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Major cryptocurrencies experienced mixed trading on Wednesday evening as investors awaited the release of July's Consumer Price Index (CPI) in the United States. The Securities and Exchange Commission (SEC) is planning to appeal a recent court decision related to Ripple Labs. The global crypto market capitalization stands at $1.18 trillion, a 0.38% decrease in the last day. Stocks experienced a decline on Wednesday as investors eagerly anticipated upcoming inflation data. The S&P 500 saw a decline of 0.7%, while the Nasdaq Composite slipped 1.17%.

Portfolio Pulse from Mehab Qureshi

August 10, 2023 | 2:40 am

DIS

NFLX

WBD

The Walt Disney Company (NYSE:DIS) has announced a 27% increase in its ad-free Disney+ subscription cost, from $10.99 to $13.99 per month, starting Oct. 12. The ad-supported version will retain its current price of $7.99 per month. Disney also plans to introduce ad-supported Disney+ subscription options in Canada and select European markets from Nov. 1. The company is adjusting its bundle options and prices for Hulu as well. The revised pricing brings Disney+ closer to the rates of other streaming giants like Netflix Inc. (NASDAQ:NFLX) and Warner Bros. Discovery Inc.'s (NASDAQ:WBD) Max.

Portfolio Pulse from Ananya Gairola

August 10, 2023 | 2:27 am

BABA

DIS

PLUG

RBLX

TSLA

U.S. stocks ended the day in the red, with the Dow Jones, NASDAQ, and S&P 500 all experiencing declines. The stocks that gained the attention of retail traders and investors throughout the day were The Walt Disney Company, Plug Power Inc, Alibaba Group Holding Limited, Tesla Inc, and Roblox Corp. Disney's stock declined by 0.73%, Plug Power's stock decreased by 1.47%, Alibaba's stock rose by 0.67%, Tesla's stock dropped by 3.01%, and Roblox's stock plummeted by 21.90%.

Portfolio Pulse from Benzinga Neuro

August 10, 2023 | 2:19 am

JAZZ

Jazz Pharmaceuticals reported Q2 2023 financial results, with GAAP net income of $104.4 million, up from $34.7 million in Q2 2022. Non-GAAP adjusted net income reached $325.1 million, up from $305.5 million in Q2 2022. Total revenues increased by 3% compared to Q2 2022. Neuroscience revenue was steady at $696.9 million, while oncology net product sales increased by 10% to $252.2 million. The company's financial position as of June 30, 2023, included $1.4 billion in cash and investments, and $5.8 billion in long-term debt. The company also repurchased approximately $100 million of shares.

Portfolio Pulse from Joana Scopel

August 09, 2023 | 11:37 pm

CVS

ELV

IHF

UNH

Nearly 4 million Americans have lost their Medicaid coverage in the last three months, with an estimated 15 million expected to lose access by the end of the year. This could impact the success of the Democratic party in the upcoming presidential election. The disenrollment is due to the end of the program's continuous enrollment provisions, which were implemented during the COVID-19 pandemic. The states with the highest numbers of people disenrolled are Texas and Florida. Shares of UnitedHealth Group Inc (UNH), Elevance Health Inc (ELV), and CVS Health (CVS) have been affected, as well as the iShares U.S. Healthcare Providers ETF (IHF).

Portfolio Pulse from Natan Ponieman

August 09, 2023 | 11:36 pm

PLNHF

Planet 13 Holdings Inc. (OTC:PLNHF) reported Q2 2023 financial results, showing a 9.1% revenue decrease to $25.8 million due to lowered cannabis prices in Nevada. However, the company reported improved gross and EBITDA margins, and reduced total expenses by 1.6% to $15.4 million. The net loss expanded to $4.3 million due to potential M&A-associated costs. The company's co-CEOs highlighted strategic growth and margin improvements, and the outlook for 2024 appears promising with $40.5 million in cash and strategic projects.

Portfolio Pulse from Nicolás Jose Rodriguez

August 09, 2023 | 10:58 pm

GHL

Greenhill & Co (NYSE:GHL) reported Q2 earnings of $0.21 per share, missing the analyst consensus estimate of $0.30 by 30 percent. This is a 120.39 percent increase over losses from the same period last year. The company also reported quarterly sales of $71.44 million, missing the analyst consensus estimate of $71.47 million by 0.05 percent, a 98.16 percent increase over sales from the same period last year.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 10:23 pm

HYFM

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) reported Q2 2023 financials with net sales of $63.1 million, down from $97.5 million, but gross profit surged to $14.5 million from $7.3 million. Adjusted EBITDA turned positive at $2.5 million from $(6.8) million. CEO Bill Toler expressed confidence in the firm's future, highlighting robust gross margin expansion and cost reductions. The 2023 outlook anticipates net sales of $230-240 million, positive adjusted EBITDA, and encouraging free cash flow. Shares of Hydrofarm were up 3.81% after the report.

Portfolio Pulse from Nicolás Jose Rodriguez

August 09, 2023 | 10:01 pm

CERT

Certara has reduced its FY23 revenue guidance from $370M-$385M to $345M-$360M, which is below the consensus estimate of $377.16M.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 9:55 pm

PENN

Dave Portnoy has bought back Barstool Sports from Penn Entertainment for $1. Penn Entertainment, which spent $551 million to acquire Barstool, expects to record a loss of between $800 million-$850 million on the deal. Penn has also announced a deal with ESPN to rebrand its Barstool Sportsbook as ESPN Bet, for which it will pay ESPN $1.5 billion and $500 million in stock warrants.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 9:52 pm