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Nvidia Corp and Advanced Micro Devices, Inc are performing well due to their artificial intelligence capabilities, while Qualcomm Inc's underwhelming third-quarter results and guidance are dragging down the broader indexes. The U.S. stock market is also under pressure from Fitch's downgrade of the U.S. credit rating. Bank Of America Corp's CEO Brian Moynihan dismissed recession forecasts citing strength in the jobs market and robust consumer spending. Broader index ETFs, including SPDR S&P 500 and Invesco QQQ Trust, Series 1, are trading lower by less than 1%.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:51 pm

XYL

RBC Capital has maintained an Outperform rating on Xylem's stock but has lowered its price target from $133 to $129. This has led to a decrease in Xylem's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:51 pm

BJDX

Dawson James analyst Jason Kolbert has downgraded Bluejay Diagnostics (NASDAQ:BJDX) from Buy to Neutral.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:51 pm

O

Realty Income's shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:51 pm

PYPL

PayPal Holdings Inc's (NASDAQ:PYPL) stock fell despite reporting a Q2 earnings beat. Analysts from Truist Securities, Canaccord Genuity Capital Markets, Oppenheimer, Susquehanna, and Needham weighed in on the results. While some analysts maintained a Buy rating and raised the price target, others cut the price target or maintained a Hold or Neutral rating. The analysts highlighted strong revenue, accelerating ecommerce growth, and promising new initiatives, but also noted concerns about margin pressure and the shift to lower margin unbranded revenue.

Portfolio Pulse from Priya Nigam

August 04, 2023 | 1:51 pm

TWLO

Zacks SurpriseTrader has reportedly purchased shares in Twilio (TWLO).

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:51 pm

VITL

Vital Farms, Inc. (NASDAQ:VITL) shares surged by 29.9% after the company reported strong quarterly earnings of 15 cents per share, exceeding the analyst consensus estimate of 6 cents. The company's quarterly sales reached $106.44 million, surpassing the analyst consensus estimate of $104.89 million by 1.5%. This reflects a 28.7% increase compared to sales of $82.87 million during the same period last year. The company's strong performance was driven by higher sales, improved pricing and volume gains from both new and existing retail customers.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 1:51 pm

ASND

UTHR

VRNA

Wedbush Securities VP, Equity Research Andreas Argyrides, has named Ascendis Pharma, Verona Pharma, and United Therapeutics as the firm's top three picks for the year at Benzinga's Biotech Conference.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:50 pm

MELI

A significant bearish stance has been taken on MercadoLibre (NASDAQ:MELI) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 47% bullish and 52% bearish. The whales have been targeting a price range from $900.0 to $1760.0 for MercadoLibre over the last 3 months. The current price of MELI is up 11.94% at $1303.92. Analysts from B of A Securities, Jefferies, and Credit Suisse have given neutral to positive ratings with price targets ranging from $1300 to $1780.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:50 pm

BATRA

Liberty Braves Group (NASDAQ:BATRA) is set to release its latest quarterly earnings report on August 4, 2023. Analysts estimate an earnings per share (EPS) of $0.49. The company's stock performance has been generally positive over the last 52-week period, with shares up 63.97%. However, last quarter, the company missed EPS by $1.18, resulting in a 0.0% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 1:50 pm