Streetbeat News

Revenues

The S&P 500 had its best week of 2024, rising 3.9% due to favorable economic data, including lower inflation, increased retail sales, and decreased jobless claims. Analysts at Goldman Sachs remain optimistic about continued economic growth and decelerating inflation.

Portfolio Pulse from Bibhu Pattnaik

August 17, 2024 | 1:30 pm

TSLA

Tesla CEO Elon Musk envisions a future where humans can upload their memories to the cloud and download them into humanoid robots, enhancing the capabilities of Tesla's Optimus bots. Musk believes this technology could lead to a $25 trillion market cap for Optimus, significantly higher than the autonomous vehicle market. Tesla plans to have useful humanoid robots in low production by next year and aims for high-volume production by 2026.

Portfolio Pulse from Anan Ashraf

August 17, 2024 | 4:58 am

GTBIF

MRMD

VRNOF

Pablo Zuanic of Zuanic & Associates analyzed the Q2 2024 performance of Verano Holdings, Green Thumb Industries, and MariMed Inc. Verano saw a 6% revenue increase due to strategic acquisitions, Green Thumb's revenue grew 10% with strong free cash flow, and MariMed reported a 4% revenue increase with a focus on organic growth.

Portfolio Pulse from Nicolás Jose Rodriguez

August 16, 2024 | 10:30 pm

ERIC

Ericsson is expected to receive approximately $1 billion in cash after settling anticipated taxes, transaction expenses, and other liabilities.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:46 pm

SPRC

SciSparc Ltd. (NASDAQ: SPRC) has finalized an exclusive global out-licensing agreement with Polyrizon Ltd. for its SCI-160 pain therapy program. The deal is valued at $3 million in Polyrizon shares, with potential additional cash payments and fees if development milestones are met.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:36 pm

HRB

SPY

H&R Block (HRB) closed higher following strong earnings, while consumer sentiment slightly beat expectations. Additionally, Harris unveiled a new economic plan.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:26 pm

TIRX

Tian Ruixiang Holdings (NASDAQ:TIRX) reported a significant decline in its financial performance for the first half of the year. The company posted a loss of $(2.68) per share, a 7.2% increase in losses compared to $(2.50) per share from the same period last year. Sales also plummeted by 75.40%, dropping to $178.34K from $724.86K year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:17 pm

BABA

BIDU

CMG

SBUX

WMT

Recent economic data has eased recession fears, reducing the likelihood of large rate cuts by the Federal Reserve and boosting investor confidence. The S&P 500 and Nasdaq 100 indices saw their strongest week since October 2023. Inflation is decelerating, jobless claims rose less than expected, and retail sales surged. Starbucks gained $15 billion in market value while Chipotle lost $7 billion following a CEO move. Walmart's earnings exceeded expectations, and Michael Burry increased his stakes in Chinese tech companies.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 8:16 pm

ARCH

BTU

COAL

FAN

HCC

ICLN

TAN

TSLA

The article discusses the contrasting fortunes of the coal and clean energy sectors. The First Trust Global Wind Energy ETF (FAN) has seen gains, while the coal industry faces setbacks despite some continued global demand. The Range Global Coal Index ETF (COAL) was launched this year, showing modest gains. Major coal companies like Peabody Energy (BTU) and Arch Resources (ARCH) have had mixed performances. Clean energy ETFs like iShares Global Clean Energy (ICLN) and Invesco Solar (TAN) have struggled, while Tesla (TSLA) might be poised for a rebound.

Portfolio Pulse from Natan Ponieman

August 16, 2024 | 8:14 pm

BBWI

DIA

DXCM

PDD

QQQ

SPY

TEAM

TPR

TTWO

ULTA

WBD

WST

The S&P 500 and Nasdaq 100 indices marked their seventh consecutive day of gains, achieving their strongest weekly performance since October 2023. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) closed with modest daily gains, while the SPDR Dow Jones Industrial Average ETF (DIA) also saw gains. Positive economic indicators, including better-than-expected consumer sentiment, lower initial jobless claims, and strong retail sales, fueled market enthusiasm. The latest earnings season showed record-high earnings per share for the S&P 500 companies.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 8:09 pm