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SPY

Governor of Pennsylvania, Josh Shapiro, stated that the Biden-Harris infrastructure spending law is positively impacting Pennsylvania. The state has also cut taxes for businesses to enhance competitiveness.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:25 pm

AMZN

BABA

PDD

Temu, an online marketplace owned by PDD Holdings, faces supplier protests in China over its shift to a semi-managed model. This change aims to recruit Amazon merchants with goods in U.S. and EU warehouses to mitigate tax loophole risks and reduce delivery times. Alibaba and Amazon are mentioned as rivals.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 3:20 pm

BMY

PFE

A Pfizer executive expressed confidence in the company's ability to navigate the impact of the Inflation Reduction Act (IRA) on Eliquis, a key drug in its portfolio. The executive also mentioned that the financial impact of the IRA on Pfizer is somewhat muted and highlighted $1.5 billion in cost savings from the first phase of a multi-phase program.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:19 pm

ADM

Archer-Daniels-Midland (NYSE:ADM) shares dropped after the company reported Q2 earnings per share of $1.03, missing the analyst consensus of $1.22. Quarterly sales also missed expectations, coming in at $22.248 billion versus the expected $23.177 billion. Despite the miss, CEO Juan Luciano expressed optimism about margin improvements for the rest of the year. ADM reaffirmed its FY24 adjusted EPS guidance of $5.25 – $6.25.

Portfolio Pulse from Nabaparna Bhattacharya

July 30, 2024 | 3:16 pm

AAPL

AMZN

DIS

NFLX

Amazon is challenging Netflix by offering cheaper ad slots on its Prime Video platform, which could generate over $5 billion in high-margin advertising revenue. This move has forced competitors to lower their prices. Amazon and Netflix each hold a 22% share of the U.S. SVOD market.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 3:09 pm

PFE

Pfizer has significantly strengthened its contracting position for its RSV vaccine, Abrysvo, with changes set to take effect in August.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:06 pm

JBLU

JetBlue's executive announced that the company expects its total capital expenditures for the next year to be a few hundred million dollars lower compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:04 pm

WBTCUSD

Wrapped Bitcoin (WBTC) has experienced a 3.12% price drop in the last 24 hours, continuing a week-long negative trend with a 1.0% loss. Despite the price drop, trading volume has increased by 10.0%, while the circulating supply has decreased by 0.35%. WBTC's market cap is currently ranked #14 at $10.22 billion.

Portfolio Pulse from Benzinga Insights

July 30, 2024 | 3:02 pm

SOLUSD

Solana (SOL) has decreased by 3.67% in the past 24 hours to $180.75, despite a 1.0% uptrend over the past week. Trading volume has decreased by 1.0%, and the circulating supply has increased by 0.18%. Solana's market cap is ranked #4 at $84.06 billion.

Portfolio Pulse from Benzinga Insights

July 30, 2024 | 3:01 pm

WAB

Wabtec Corporation has announced a $277 million order for its Evolution Series locomotives from the SimFer Joint Venture. These locomotives will be used for the Simandou Iron Ore Project in Guinea.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:00 pm