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NKLA

Nikola Corp (NASDAQ:NKLA) reported strong fiscal Q2 2024 results, doubling truck deliveries and beating analyst estimates on sales and EPS. The company produced 77 trucks and shipped 73, maintaining a dominant market share in California's HVIP vouchers. Despite a gross loss of $54.7 million, adjusted EBITDA loss improved. NKLA stock surged 14.70% following the news.

Portfolio Pulse from Anusuya Lahiri

August 09, 2024 | 2:44 pm

CHK

EQT

UNG

U.S. natural gas prices are set to extend their gains for a fourth session due to lower-than-expected inventory builds and persistent heat. The United States Natural Gas Fund LP (NYSE:UNG) is tracking these gains. Major producers like EQT Corp. (NASDAQ:EQT) and Chesapeake Energy Corp. (NASDAQ:CHK) are planning to reduce output in response to low prices, which could help balance the market. Weather forecasts remain favorable for natural gas prices in the near term.

Portfolio Pulse from Piero Cingari

August 09, 2024 | 2:41 pm

GOOG

GOOGL

Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) is trading at its lowest valuation among the Magnificent Seven tech giants, despite a 13.24% stock dip due to an ongoing antitrust lawsuit. The lawsuit, which targets Alphabet's search distribution agreements, could impact up to 25% of Google's Search revenue. However, the current forward P/E multiple of 21.42 presents a potentially undervalued opportunity for investors.

Portfolio Pulse from Surbhi Jain

August 09, 2024 | 2:39 pm

ARWR

Arrowhead Pharmaceuticals shares are trading lower after the company reported worse-than-expected Q3 EPS results and a year-over-year Q3 revenue decrease.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 2:33 pm

Deere (NYSE:DE) has outperformed the market over the past 5 years with an average annual return of 18.63%, resulting in a $100 investment growing to $235.13. The article highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 2:30 pm

Blackstone (NYSE:BX) has outperformed the market over the past 10 years with an average annual return of 14.84%, resulting in a $100 investment growing to $400.31. The article highlights the impact of compounded returns on long-term investment growth.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 2:30 pm

ABNB

AMZN

EXPE

Investment strategist Tim Urbanowicz has expressed concerns about a slowdown in consumer spending, urging caution on stocks exposed to consumer demand. Companies like Amazon, Airbnb, and Expedia have reported or forecasted slowing demand, attributing it to various global events and market conditions.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 2:19 pm

CGC

Canopy Growth Corporation (NASDAQ: CGC) reported a 13% YoY decline in Q1 revenue and a wider net loss. Despite this, the company saw a record quarter for Canadian medical marijuana and is expanding in the U.S. market. Shares traded 8.38% lower following the announcement.

Portfolio Pulse from Jelena Martinovic

August 09, 2024 | 2:09 pm

AMZN

MAGS

MSFT

NVDA

QQQ

SPY

A recent Benzinga poll asked readers which of the Magnificent 7 stocks they believe will best weather a recession. Amazon and Nvidia tied for the top spot, followed by Microsoft. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) experienced significant drops due to economic uncertainties. Despite recent market recovery, investors remain cautious about a potential recession.

Portfolio Pulse from Chris Katje

August 09, 2024 | 2:03 pm

ALTM

Analysts have recently evaluated Arcadium Lithium (NYSE:ALTM) with mixed sentiments, ranging from bullish to bearish. The average 12-month price target has decreased by 24.52% to $5.51. Key analysts from firms like Keybanc, Scotiabank, and Goldman Sachs have lowered their price targets, reflecting a negative shift in sentiment. Despite challenges, Arcadium Lithium shows strong profitability and effective cost control.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 2:00 pm