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CBST

CURLF

MSOS

VRNOF

Boris Jordan discusses the rescheduling of cannabis, with 90% of comments reviewed and no ALJ hearing so far. Verano Holdings will acquire operations from The Cannabist Co. for $15M in cash and $105M in licenses in Arizona and Virginia. Virginia is seen as a promising market for cannabis.

Portfolio Pulse from The Dales Report

August 02, 2024 | 3:03 pm

BABA

NVDA

Hong Kong's Futu Securities International has introduced retail cryptocurrency trading and is offering shares of Alibaba (NYSE:BABA) and Nvidia (NASDAQ:NVDA) as incentives to attract investors. The initiative aligns with Hong Kong's efforts to become a virtual asset business hub.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 2:49 pm

LLY

RMD

ResMed Inc. (NYSE:RMD) reported strong Q4 2024 earnings with revenue of $1.22 billion, driven by increased demand for sleep devices and masks. Gross margin improved significantly, and adjusted EPS beat consensus. The company also increased its quarterly dividend by 10%. Despite short-term challenges, analysts remain positive on ResMed's fundamentals. Eli Lilly (NYSE:LLY) released results from phase 3 trials for tirzepatide injection for obstructive sleep apnea.

Portfolio Pulse from Vandana Singh

August 02, 2024 | 2:46 pm

LLY

Eli Lilly and Company (NYSE:LLY) shares are trading lower on Friday despite promising results from its SUMMIT phase 3 clinical trial. The company is set to release its Q2 2024 earnings on Aug. 8, with analysts estimating revenue of $9.9 billion and EPS of $2.7. The trial showed that tirzepatide reduced heart failure events by 38% and caused a 15.7% weight loss in patients.

Portfolio Pulse from Dylan Berman

August 02, 2024 | 2:39 pm

AMZN

GOOG

GOOGL

MSFT

Amazon's Q2 results showed AWS growth reacceleration, but increased capital spending pressured margins. Revenue grew 10% YoY to $148 billion, missing estimates. Advertising revenue rose 20% to $12.77 billion, also missing estimates. AWS sales surged 19% to $26.28 billion, but margins shrank due to higher investments. Net income doubled to $13.5 billion, exceeding expectations. Amazon's Q3 guidance indicates continued pressure on margins due to AI investments.

Portfolio Pulse from Upwallstreet

August 02, 2024 | 2:38 pm

AAPL

JPMorgan analyst Samik Chatterjee reiterates an Overweight rating for Apple Inc. (NASDAQ:AAPL) following its strong Q3 FY2024 results. Chatterjee highlights Apple's focus on AI as a key growth driver, with upcoming AI features in iPhone 16, iOS 18, iPadOS 18, and macOS Sequoia. Apple's Q3 revenue of $85.8 billion exceeded estimates, and the company is set to expand AI-driven features internationally. Chatterjee maintains a price target of $265 for December 2025, citing AI as a significant opportunity for Apple.

Portfolio Pulse from Surbhi Jain

August 02, 2024 | 2:21 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are trading lower by 3.58% following the announcement of the phased rollout of its streaming platform, Truth+. The service will initially be available on the Web, with Android and iOS availability to follow. The company aims to provide a reliable home for TV content that is neglected by big corporations.

Portfolio Pulse from Nabaparna Bhattacharya

August 02, 2024 | 2:20 pm

BONKUSD

DOGEUSD

FLOKIUSD

SHIBUSD

Crypto traders warn of significant downside for Bonk (CRYPTO: BONK), predicting a 60-70% drop from current levels. This could impact meme cryptocurrencies, with Bonk having recently outperformed Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).

Portfolio Pulse from Khyathi Dalal

August 02, 2024 | 2:16 pm

LYB

LyondellBasell Industries (NYSE: LYB) reported strong Q2 fiscal 2024 results, with revenues of $10.55 billion and adjusted EPS of $2.24, both beating consensus estimates. Despite a slight contraction in margins, the company saw increased production and favorable cost conditions. LYB provided optimistic margin guidance for Q3, expecting continued benefits from low natural gas costs. The company also reported strong cash flow and significant investments, including a stake in the NATPET joint venture.

Portfolio Pulse from Akanksha Bakshi

August 02, 2024 | 2:03 pm

META

TUR

Turkey has announced that it will unblock Instagram once the company meets its obligations. This decision could impact Meta Platforms Inc. (META), the parent company of Instagram.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:44 pm