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NVDA

QQQ

SPY

Nvidia Corp (NVDA) stock traded lower on Friday, in line with broader indexes SPDR S&P 500 (SPY) and Invesco QQQ Trust, Series 1 (QQQ). The drop is attributed to a drag from big technology and growth stocks, as evidence of a resilient U.S. economy flared fears of interest rates staying higher for longer. Despite this, Nvidia continues to attract analyst confidence ahead of its quarterly results, with Wedbush analyst Matt Bryson reiterating an Outperform rating and a $490 price target.

Portfolio Pulse from Anusuya Lahiri

August 18, 2023 | 2:50 pm

BTCUSD

Cryptocurrency expert, PlanB, predicts a potential surge in Bitcoin's (CRYPTO: BTC) value, possibly reaching $300,000 to $500,000 by 2024. This prediction is based on the stock-to-flow (S2F) model, which compares an asset's price to its available supply. According to this model, Bitcoin's value could reach $60,000 by the anticipated halving event in April 2024, followed by a significant jump to between $300,000 and $500,000.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 2:48 pm

HKIT

Shares of Hitek Global (HKIT) were halted on a circuit breaker to the upside, with the stock now up 24.6%.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 2:47 pm

FCO

abrdn Glb Inc Fund (AMEX:FCO) has announced a monthly dividend of 7 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 7 cents lower to reflect the payout. Shareholders who own FCO as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on August 31, 2023.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 2:45 pm

DIA

QQQ

SPY

Major indexes are experiencing a downturn due to rising Treasury yields and uncertainty in China following Evergrande's Chapter 15 bankruptcy protection filing.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 2:43 pm

BRID

CHGG

STG

VLGEA

The article lists five value stocks in the consumer defensive sector that may be undervalued. These include Sunlands Technology (STG), Bridgford Foods (BRID), Chegg (CHGG), iHuman (IH), and Village Super Market (VLGEA). The companies have varying P/E ratios and recent earnings per share reports. The risk of investing in these value stocks is that they may never rebound from their undervalued position.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 2:40 pm

BVN

LXU

SUZ

Benzinga Insights has identified five value stocks in the basic materials sector: ArcelorMittal (MT), CF Industries Holdings (CF), LSB Industries (LXU), Buenaventura Mining Co (BVN), and Suzano (SUZ). These companies have been selected based on their low P/E multiples, indicating they may be undervalued. Recent earnings and dividend yields have been reported for each company.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 2:39 pm

TSLA

VWAGY

XPEV

XPeng Inc's Q2 report showed a significant loss due to the price war initiated by Tesla Inc, causing XPeng's U.S. shares to drop 7% in pre-market trade. The company's gross margin turned negative 3.9% due to inventory writedowns of the G3i crossover sports utility vehicle. However, XPeng's vehicle deliveries rose 27% quarter over quarter, and the company expects to deliver between 39,000 and 41,000 vehicles in Q3. XPeng is also working with Volkswagen on developing two EVs for the Chinese market.

Portfolio Pulse from Upwallstreet

August 18, 2023 | 2:37 pm

EHang Holdings shares are trading lower following disappointing Q2 revenue results. The situation is further exacerbated by China Evergrande Group's filing for Chapter 15 bankruptcy protection in New York, which may be contributing to the weakness.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 2:33 pm

BLMN

DRI

QSR

Bloomin' Brands Inc's shares are trading higher after activist investor Starboard Value disclosed a 9.9% stake in the company. The intentions of Starboard are unclear, but in the past, activist investors have urged Bloomin' to reduce expenses and separate some of its brands. Bloomin' Brands reported a 2.4% YoY sales growth in Q2 FY23, in line with consensus. The company's stock has surged almost 30% YTD, rebounding from pandemic setbacks.

Portfolio Pulse from Vandana Singh

August 18, 2023 | 2:32 pm