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QQQ

SPY

Michael Burry, known for his bearish bet on the U.S. housing market, has taken a contrarian view to the current market rally, buying 20,000 put options each on the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ). This indicates his belief that the markets might be at a peak and could be due for a correction. However, Mark Chaikin, founder and CEO of Chaikin Analytics, disagrees with Burry's bearish stance, stating that the current market structure is strong and unlikely to see a full 10% downturn.

Portfolio Pulse from AJ Fabino

August 17, 2023 | 5:05 pm

SELB

Selecta Biosciences Inc (NASDAQ:SELB) has announced a strategic initiative to maximize stockholder value by focusing on its gout treatment candidate, SEL-212. The company plans to suspend further investment in other pipeline assets to focus on potential licensing and corporate development activities. This is expected to extend its cash runway into 2027. Selecta will continue to develop SEL-212 in partnership with Sobi, with a BLA submission expected in the first half of 2024. The company will also continue the development of IdeXork under a licensing agreement with Astellas Gene Therapies.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 5:04 pm

PLTR

Shares of Palantir Technologies Inc. (NYSE:PLTR) are trading lower, continuing a downward trend that started after the company reported its Q2 financial results. The stock is down by 12.5% over the last month, but remains up by 50% over the last three months. The company reported Q2 earnings per share of 5 cents and quarterly revenue of $533.317 million, a 13% YoY increase, in line with expectations.

Portfolio Pulse from Erica Kollmann

August 17, 2023 | 5:04 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced an agreement to sell its Hershey Drive facility in Smiths Falls, Ontario to Hershey Canada, Inc. for approximately C$53 million in cash. This move is part of the company's transformation to an asset-light operating model. The company recently reported its first-quarter financial results with quarterly sales of C$109.00 million, beating the consensus estimate of C$67.98 million.

Portfolio Pulse from Erica Kollmann

August 17, 2023 | 5:02 pm

AAPL

MMM

UBER

CNBC's Halftime Report discussed final trades involving Apple (AAPL), 3M (MMM), and Uber Technologies (UBER). Specific details of the discussion were not provided.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 5:01 pm

EW

Over the past 3 months, 12 analysts have published their opinion on Edwards Lifesciences (NYSE:EW) stock. The analysts have an average price target of $101.5 versus the current price of Edwards Lifesciences at $77.725, implying an upside. The current average has increased by 0.82% from the previous average price target of $100.67.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

HES

Over the past 5 years, Hess (NYSE:HES) has outperformed the market by 10.76% on an annualized basis, producing an average annual return of 19.73%. If an investor had bought $1000 of HES stock 5 years ago, it would be worth $2,477.20 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

ATVI

Activision Blizzard (NASDAQ:ATVI) has outperformed the market over the past 10 years, producing an average annual return of 18.52%. If an investor had bought $1000 of ATVI stock 10 years ago, it would be worth $5,414.03 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

ETR

Analysts have provided mixed ratings for Entergy (NYSE:ETR) in the last quarter, with 2 somewhat bullish, 2 indifferent, and 3 somewhat bearish. The average 12-month price target for Entergy is $107.57, a 5.4% decrease from the previous average of $113.71.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

ZM

Over the last quarter, Zoom Video Comms (NASDAQ:ZM) has received 1 bullish and 6 indifferent analyst ratings. The average 12-month price target for the company is $80.57, representing a 1.14% decrease from the previous average price target of $81.50.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:00 pm