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The disinflationary trend continued in July, with the annual CPI inflation rate slightly increasing from 3% to 3.2%, lower than the expected 3.3%. This led to a fall in core inflation to 4.7% YoY, below the anticipated 4.8%. As a result, traders updated their expectations for future interest rates, with over 90% probability assigned to rates remaining on hold in September. This shift in rate expectations revitalized the markets and risk assets. Five ETFs rallied after the CPI data release: Invesco QQQ Trust, ARK Innovation ETF, Consumer Discretionary Select Sector SPDR Fund, iShares Biotechnology ETF, and iShares Expanded Tech-Software Sector ETF.

Portfolio Pulse from Piero Cingari

August 10, 2023 | 3:58 pm

DNUT

Krispy Kreme reported worse-than-expected Q2 sales results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:55 pm

ENS

EnerSys reported mixed Q1 financial results, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:54 pm

VIRI

Virios Therapeutics reported worse-than-expected Q2 earnings per share (EPS) results, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:54 pm

ALRM

Alarm.com reported better-than-expected Q2 financial results and issued guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:54 pm

AKU

Akumin reported a year-over-year decrease in Q2 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:53 pm

EDBL

Edible Garden AG Incorporated (NASDAQ:EDBL) reported better-than-expected Q2 financial results, with losses of 24 cents per share, beating the analyst consensus estimate by 73.33%, and sales of $4.22 million, beating the consensus estimate by 15.33%. The company's shares are trading higher on heavy trading volume, with more than 63.5 million shares traded in the session.

Portfolio Pulse from Erica Kollmann

August 10, 2023 | 3:53 pm

XFOR

X4 Pharmaceuticals reported worse-than-expected Q2 earnings per share (EPS) results, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:53 pm

PTRA

Proterra Inc (PTRA) shares have dropped by 22.9% to $0.12 after the company announced it has filed for Chapter 11 bankruptcy. Despite this, the company plans to continue operations and secure funding for salaries, benefits, and vendor payments. The scheduled earnings conference call for August 9 has been canceled.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 3:52 pm

PTRA

Proterra has filed for Chapter 11 bankruptcy, leading to a continued downward trend in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:52 pm