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AMZN

DKNG

DraftKings Inc (NASDAQ:DKNG) CEO Jason Robins is optimistic about the upcoming 2023 NFL season, expecting big growth for the sports betting industry. The company's Q2 financial results beat analysts' estimates for revenue and earnings per share. The expansion of primetime games for the NFL, including a game on Black Friday, is seen as a value addition for DraftKings. The company's shares hit new 52-week highs of $34.49 during the intraday trading session on Friday, Aug. 5.

Portfolio Pulse from Chris Katje

August 07, 2023 | 5:47 pm

MA

PYPL

V

PayPal has announced its new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), which is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents. Paolo Ardoino, CTO of Tether, does not see PYUSD as a competitor to Tether, but believes it will lead to a further loss of revenue for competitors like USD Coin. Ardoino also suggested that PYUSD could erode revenues for payment companies like MasterCard and Visa.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 5:36 pm

PLNT

Planet Fitness (PLNT) is reportedly testing price increases for its $15/month membership, according to a note circulated by Baird.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:33 pm

MNST

RBC has confirmed that Red Bull will be increasing its prices in November. The price increase will be mid-single digits on 12oz cans and high-single digits on 8oz cans. This is expected to be positive for Monster Beverage Corporation (MNST) who is likely to follow suit in increasing prices.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 5:07 pm

TSLA

Used Tesla Inc vehicles may now be eligible for a federal tax credit of up to $4,000, according to updated guidance from the Internal Revenue Service (IRS). This change could be a significant boost for prospective Tesla buyers looking to enter the electric vehicle (EV) market at a lower price point. The IRS has not explicitly confirmed the eligibility of used Tesla vehicles for this tax credit, but the new direction suggests a possible change in their status.

Portfolio Pulse from Benzinga EV Insights

August 07, 2023 | 4:37 pm

INTC

MU

Micron Technology has launched the sample availability of Micron CZ120 memory expansion modules, which offer higher capacity and increased bandwidth. The modules use Compute Express Link (CXL) standards and fully support the CXL 2.0 Type 3 standard. Intel Corporation is collaborating with Micron to test and evaluate the CZ120 memory expansion module on Intel's 4th generation Xeon Scalable processors and Xeon platforms.

Portfolio Pulse from Nabaparna Bhattacharya

August 07, 2023 | 4:24 pm

LLY

NKTR

Nektar Therapeutics Inc (NKTR) has announced that its former partner Eli Lilly And Co (LLY) presented incorrect data from two Phase 1b studies of its atopic dermatitis drug, rezpegaldesleukin (Rezpeg). The corrected data shows improved results, leading to a surge in NKTR's stock price. Nektar is planning to prioritize the development of Rezpeg, either in collaboration with Eli Lilly or independently.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 4:20 pm

GOOG

MSFT

Alphabet Inc. faces regulatory risks due to the UK's new data protection bill, which critics say favors big businesses and undermines individual data control. A federal judge has narrowed the antitrust lawsuit against Google, but the case will proceed focusing on Google's default search engine agreements. Google's generative AI tools are being exploited to flood fake news sites, posing a threat to the company's ad business.

Portfolio Pulse from Mohit Manghnani

August 07, 2023 | 4:19 pm

AAPL

ARES

MGOL

OWL

Soccer superstar Lionel Messi's move to Major League Soccer (MLS) team Inter Miami could benefit several publicly traded companies. Ares Management Corp (NYSE:ARES) recently invested $75 million in preferred equity in Inter Miami, marking its second investment in the team. Other companies that could benefit include Apple Inc (NASDAQ:AAPL), which has exclusive rights to MLS games, and MGO Global Inc (NASDAQ:MGOL), which manages the online Messi store.

Portfolio Pulse from Chris Katje

August 07, 2023 | 4:12 pm

BNBUSD

COIN

AI-driven risk management platform, Libertify, has introduced an AI audit feature for crypto wealth management. The feature allows crypto investors to assess and manage their portfolio risks and receive optimization suggestions. The AI audit is compatible with major digital wallets, including Coinbase Global Inc and Binance. Libertify plans to extend its AI risk management tool to the traditional stock market by Q3 2023.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 4:09 pm