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Stock Prices

MODG

Goldman Sachs has maintained a Neutral rating on Topgolf Callaway Brands (NYSE:MODG) and lowered the price target from $29 to $20.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:26 pm

IONQ

IonQ reported mixed Q2 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:24 pm

DOGEUSD

SHIBUSD

Cryptocurrency analyst Ali Martinez has highlighted a positive correlation between meme cryptocurrencies Shiba Inu (SHIB) and Dogecoin (DOGE), suggesting their price movements are closely related. Data from IntoTheBlock shows a correlation coefficient of 0.74 between the two digital assets. Despite SHIB experiencing a 20% surge in the past week, DOGE has not yet shown a similar pattern.

Portfolio Pulse from Mehab Qureshi

August 11, 2023 | 12:23 pm

CAAS

China Automotive Systems Inc (NASDAQ:CAAS) reported Q2 FY23 sales growth of 8.1% to $137.41 million, missing the analyst consensus of $140.72 million. The gross profit margin compressed to 16.5%, and the gross profit remained flat at $22.7 million. The company reiterated its revenue guidance for the full year 2023 of $560.0 million, below the consensus of $566.7 million. CAAS shares are trading higher by 5.11% at $5.55 in premarket Friday.

Portfolio Pulse from Shivani Kumaresan

August 11, 2023 | 12:23 pm

ACHR

AMRS

ETON

SMLR

WE

Several stocks experienced significant pre-market movements. Amyris, Inc. (AMRS) shares dipped over 80% after filing for Chapter 11 bankruptcy. Semler Scientific, Inc. (SMLR) rose 40% after reporting better-than-expected Q2 results. Eton Pharmaceuticals, Inc. (ETON) gained 25.3% after posting upbeat Q2 results. WeWork Inc. (WE) rose 22.1% amid volatility and doubts over its ability to stay in business. Archer Aviation Inc. (ACHR) rose 22% after announcing a $215 million investment and a litigation settlement with Wisk Aero and Boeing. Other notable movers include 1847 Holdings LLC (EFSH), Innodata Inc. (INOD), Pagaya Technologies Ltd. (PGY), Rigetti Computing, Inc. (RGTI), and Matinas BioPharma Holdings, Inc. (MTNB).

Portfolio Pulse from Lisa Levin

August 11, 2023 | 12:23 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) reported better-than-expected Q1 FY23 results, with a 14% YoY revenue growth to $32.29 billion, beating the consensus of $31.20 billion. Non-GAAP earnings per ADS of $2.40 also beat the consensus of $2.02. Following the announcement, Bernstein, Baird, and B of A Securities raised their price targets on Alibaba.

Portfolio Pulse from Lisa Levin

August 11, 2023 | 12:23 pm

MAXN

Maxeon Solar reported mixed Q2 financial results and issued Q3 and FY23 revenue guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:21 pm

CANO

Cano Health reported worse-than-expected Q2 financial results, withdrew its guidance, and announced it is pursuing a sale process. The company also expressed doubt over its ability to continue as a going concern, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:20 pm

DPZ

MAT

MGM

USB

Insiders at Domino's Pizza, MGM Resorts International, Mattel, and U.S. Bancorp have recently sold significant amounts of shares. While insider selling can sometimes indicate concern about a company's prospects, it can also be part of a preplanned sale. Domino's Pizza, MGM Resorts, and Mattel have all reported positive recent developments, while U.S. Bancorp has announced a debt/equity conversion with Mitsubishi UFJ Financial.

Portfolio Pulse from Lisa Levin

August 11, 2023 | 12:17 pm

FWRD

Shares of Forward Air (FWRD) are trading lower following multiple analyst downgrades. This comes after the company announced a merger with Omni Logistics.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:14 pm