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IWM

QQQ

July saw a significant market rotation with investors moving towards small-cap stocks, anticipating Federal Reserve interest rate cuts. The iShares Russell 2000 ETF (IWM) had its best monthly performance against the Nasdaq 100 (QQQ) since April 2002, with a 9.2% rally. The Russell 2000 could continue to outperform if the Fed cuts rates as expected.

Portfolio Pulse from Piero Cingari

July 30, 2024 | 7:28 pm

USO

Oil prices are trading lower due to concerns over demand from China.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 7:18 pm

AMZN

NVDA

Goldman Sachs and RBC Capital analysts have reiterated their positive ratings on Amazon (AMZN) ahead of its Q2 earnings, citing strong eCommerce and cloud business performance, potential margin upside, and AI-driven growth. Amazon's GPU activity with Nvidia (NVDA) is also noted.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 7:11 pm

CAVA

Analysts have provided mixed ratings for Cava Group (NYSE:CAVA) over the past three months, with a recent increase in the average 12-month price target to $88.92. The company has shown strong revenue growth and profitability, but faces challenges in return on equity.

Portfolio Pulse from Benzinga Insights

July 30, 2024 | 7:00 pm

XRPUSD

XRP's price has increased by 4.78% in the past 24 hours to $0.63, with a weekly uptick of over 6.0%. Trading volume has risen by 32.0% over the past week, while the circulating supply has slightly decreased. XRP's market cap is currently ranked #6 at $35.44 billion.

Portfolio Pulse from Benzinga Insights

July 30, 2024 | 7:00 pm

AMT

American Tower Corp (NYSE: AMT) reported strong Q2 2024 earnings with revenue growth of 4.6% year-on-year to $2.90 billion, beating analyst estimates. AFFO per share increased by 9.8% to $2.79, also surpassing expectations. The company saw significant growth in tenant billings and free cash flow, and raised its FY24 outlook. AMT shares rose 2.61% following the report.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 6:46 pm

FLR

Fluor (NYSE:FLR) has outperformed the market over the past 5 years with an average annual return of 17.26%, resulting in a $1000 investment growing to $2,062.64. The company currently has a market capitalization of $8.00 billion.

Portfolio Pulse from Benzinga Insights

July 30, 2024 | 6:32 pm

MSFT

Activision, a subsidiary of Microsoft, released a study on the effects of skill-based matchmaking (SBMM) in Call of Duty: Modern Warfare 3. The study found that reducing the importance of skill in matchmaking led to a significant decline in player retention, particularly among lower-skilled players. The findings suggest that maintaining a balanced SBMM system is crucial for keeping a diverse player base engaged.

Portfolio Pulse from Franca Quarneti

July 30, 2024 | 6:31 pm

SPGI

S&P Global Inc (NYSE:SPGI) reported strong Q2 results with a 14% increase in sales and a 30% rise in adjusted EPS, beating analyst estimates. The company raised its full-year revenue and EPS outlook and announced a $1.5 billion share buyback plan.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 6:30 pm

AMZN

WBD

Amazon.com Inc (NASDAQ:AMZN) has secured NBA rights for $1.8 billion annually, aiming to boost Prime Video subscribers. However, a Benzinga poll indicates limited impact, with only 10% of non-subscribers willing to join for NBA content. Warner Bros. Discovery (NASDAQ:WBD) is suing the NBA over the deal, claiming a contractual right to match Amazon's offer.

Portfolio Pulse from Chris Katje

July 30, 2024 | 6:26 pm