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NVDA

TSLA

Tesla investor Ross Gerber has highlighted the synergy between Nvidia and Tesla, emphasizing the convergence of AI autonomy and GPU technology. This comes as the combined market value of the two companies matches the value of companies like Starbucks and Goldman Sachs. Tesla CEO Elon Musk has been securing a significant number of GPU processors from Nvidia for his AI startup and has expressed interest in using more Nvidia hardware.

Portfolio Pulse from Benzinga Neuro

August 22, 2023 | 5:06 am

BTCUSD

A Bitcoin whale has accumulated over $3 billion worth of Bitcoin since mid-May, making it the third-largest BTC address globally. The wallet has not sold any Bitcoin since its inception. The wallet's strategy involved procuring varying amounts of BTC, with the most recent transaction involving 6,600 BTC. The whale is currently experiencing a loss of more than $92.90 million. The price of Bitcoin dropped below $26,500 last week due to decreased market activity and the crisis in China's property sector.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 3:47 am

BTCUSD

COIN

DOGEUSD

ETHUSD

USDCUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline after Ethereum co-founder Vitalik Buterin deposited 600 ETH, worth approximately $1 million, to crypto exchange Coinbase. This comes amidst a wider market downturn, with ether experiencing a 10% decline over the last seven days. Coinbase is set to acquire a minority stake in Circle Internet Financial and dissolve their Centre Consortium partnership. Analysts warn that BNB is dragging down the entire crypto market.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 2:31 am

ADPT

ADYEY

CDXS

CELL

CRSP

RXRX

SHOP

Ark Invest, led by Cathie Wood, sold $9.2 million worth of Shopify Inc (NYSE:SHOP) shares due to recent volatility following its Q2 results. The shares were sold through ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF). Ark Invest also bought shares of ADYEN NV (OTC:ADYEY), CRISPR THERAPEUTICS AG (NASDAQ:CRSP), ADAPTIVE BIOTECHNOLOGIES (NASDAQ:ADPT), and RECURSION PHARMACEUTICALS (NASDAQ:RXRX), and sold shares of CODEXIS INC (NASDAQ:CDXS) and PHENOMEX INC (NASDAQ:CELL).

Portfolio Pulse from Benzinga Neuro

August 22, 2023 | 2:27 am

BIDU

MRNA

NVDA

TSLA

US stocks showed mixed performance with the Nasdaq Composite gaining 1.56% while the Dow dipped slightly by 0.11%. The S&P 500 rose by 0.69%. NVIDIA, Zoom, Moderna, Baidu, and Tesla were the top stocks that gained attention. NVIDIA shares soared by 8.47% due to positive sentiments about its position in AI trends. Zoom's stock rose by 1.48% amid concerns related to the EG.5 COVID-19 variant. Moderna's shares surged by 9.31% after its collaboration with CARsgen Therapeutics. Baidu's stock dipped slightly by 0.19% as it prepares to release its quarterly earnings report. Tesla shares climbed by 7.33%, adding a combined value of over $120 billion with NVIDIA.

Portfolio Pulse from Benzinga Neuro

August 22, 2023 | 2:11 am

ASB

CMA

KEY

UMBF

VLY

S&P has downgraded five banks: KeyCorp, Comerica, Valley National, UMB and Associated Bank. This is part of a wider review of the banking sector by S&P.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:07 am

QABSY

Boeing is reportedly close to securing an order for more of its 787 Dreamliner aircraft from Australia’s Qantas Airways. The order for an unspecified number of 787-10s could be announced as early as this month. This would be Qantas's first order of the 787-10 model, a stretched version of the 787-9 with shorter range that is designed to compete against the Airbus A330. The deal is not final until it has won airline board approval.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 10:48 pm

DIS

Credit Suisse analyst Douglas Mitchelson maintained Walt Disney Co (NYSE:DIS) with an Outperform and lowered the price target from $126 to $122. He revised his EPS estimates for FY23 to $3.70, FY24 to $5.12, and FY25 to $6.14. Mitchelson highlighted substantial forecast uncertainty for Disney, including the timing and cost of launching the main ESPN channel and its content DTC, the pace of linear decline, and potential labor cost increases. Truist Securities analyst Matthew Thornton reiterated Walt Disney with a Buy and a $105 price target.

Portfolio Pulse from Anusuya Lahiri

August 21, 2023 | 10:46 pm

Lufax Holding (NYSE:LU) reported Q2 earnings of $0.06 per ADS, beating the analyst consensus estimate of $0.05 by 20%. However, this is a 66.67% decrease from the same period last year. The company's quarterly sales of $1.28 billion missed the analyst consensus estimate of $1.43 billion by 10.63%, marking a 44.00% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 10:07 pm

ROIVW

Presidential candidate Vivek Ramaswamy predicts a US recession in 2024, based on historical indicators such as the inverted yield curve and current labor market conditions. He also highlights the impact of inflation, with goods being 16%-20% more expensive than in 2020. Ramaswamy is known in the biotech space, having founded Roivant Sciences (NASDAQ:ROIVW) and Myovant Sciences.

Portfolio Pulse from AJ Fabino

August 21, 2023 | 9:55 pm