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Tech stocks led the Dow Jones Industrial Average to its largest drop in almost two years, with the index falling 2.6% and the S&P 500 shedding 3%. Major tech stocks like Intel, Apple, and Cisco saw significant declines. The SPDR Dow Jones Industrial Average and SPDR S&P 500 ETF Trust also fell. Investors are concerned about a weakening U.S. economy following a cooler-than-expected jobs report.

Portfolio Pulse from Michael Juliano

August 05, 2024 | 11:32 pm

GTBIF

Green Thumb Industries Inc. (OTC:GTBIF) reported strong Q2 2024 financial results with an 11% increase in revenue to $280 million, a net income of $20.7 million, and an adjusted EBITDA of $94 million. The company also repurchased shares worth $20 million and opened new dispensaries, contributing to its market expansion. However, rising costs and regulatory challenges remain areas to watch.

Portfolio Pulse from Nicolás Jose Rodriguez

August 05, 2024 | 11:15 pm

OTTR

Otter Tail Corporation has increased its FY24 EPS guidance from $6.23 - $6.53 to $6.77 - $7.07, citing continued strength in its Plastics segment. Despite strong quarterly results in the Manufacturing segment, the company anticipates demand-related headwinds in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 10:05 pm

OTTR

Otter Tail (NASDAQ:OTTR) reported Q2 2024 GAAP EPS of $2.07, beating the $1.70 estimate, but sales of $342.336M missed the $367.714M estimate.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 10:01 pm

VSTO

Vista Outdoor has reaffirmed its FY25 outlook, projecting sales between $2.665 billion and $2.775 billion, with an estimated $2.728 billion. The company also expects adjusted EPS to range from $3.60 to $4.50, with an estimated $4.17.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 9:44 pm

NINE

Nine Energy Service expects its Q3 revenue and profitability to be relatively flat compared to Q2.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 9:38 pm

BSM

Black Stone Minerals (NYSE:BSM) reported Q2 2024 earnings per share of $0.29, missing the analyst estimate of $0.36 by 19.44%. The company also reported sales of $109.624 million, missing the estimate of $119.591 million by 8.33%. This represents a 6.30% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 9:31 pm

ELF

e.l.f. Beauty (NYSE:ELF) has significantly outperformed the market over the past 5 years, with an annualized return of 59.08%. A $1000 investment in ELF 5 years ago would now be worth $10,147.31. The company's market capitalization is currently $9.90 billion.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 9:30 pm

VKTX

Viking Therapeutics (NASDAQ:VKTX) has significantly outperformed the market over the past 5 years, delivering an average annual return of 48.79%. A $100 investment in VKTX 5 years ago would be worth $716.25 today. The company's current market capitalization is $5.83 billion.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 9:30 pm

LUMN

Lumen Technologies (NYSE:LUMN) shares surged 53.28% after-hours following the announcement of securing $5 billion in new business driven by AI demand. The company is also in discussions for an additional $7 billion in sales opportunities. Lumen has created a new Custom Networks division to manage its Private Connectivity Fabric solutions, addressing the needs of hyperscalers and large organizations.

Portfolio Pulse from Erica Kollmann

August 05, 2024 | 9:29 pm