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BITW

ETHUSD

The U.S. Securities and Exchange Commission (SEC) is reportedly set to approve Ether (CRYPTO: ETH) futures-based ETFs, with several potentially getting approval by October. Companies such as Volatility Shares, Bitwise, Roundhill, and ProShares have applied to introduce these ETFs. The SEC has previously approved trading in a fund associated with Bitcoin futures contracts on the Chicago Mercantile Exchange (CME).

Portfolio Pulse from Benzinga Neuro

August 18, 2023 | 9:29 am

SPY

Economist David Rosenberg has warned of a new bear phase in the stock market, noting that every major average has broken below its 50-day moving average. This includes the Value-line Arithmetic and the S&P 500 Equal-Weight. The recent weakness in the stock market is triggered by fears of the Federal Reserve continuing with its rate-hiking spree. The SPDR S&P 500 ETF Trust (SPY) ended Thursday’s session down 0.76% at $436.29.

Portfolio Pulse from Shanthi Rexaline

August 18, 2023 | 9:02 am

Edward Jones analyst John Boylan has downgraded Cigna Group (NYSE:CI) from Buy to Hold.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:58 am

CVS

Edward Jones analyst Ashtyn Evans has downgraded CVS Health (NYSE:CVS) from Buy to Hold.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:55 am

BABA

BIDU

BILI

FXI

NIO

PDD

XPEV

China's Evergrande has filed for Chapter 15 bankruptcy protection, leading to a premarket drop in shares of China stocks.

Portfolio Pulse from Charles Gross

August 18, 2023 | 8:55 am

TSLA

Tesla China is reportedly preparing for the launch of the Model 3 Project Highland, with first deliveries potentially as early as September. To attract customers, Tesla is offering an RMB 8,000 ($1098.63) insurance subsidy on Model 3 inventory vehicles and increased insurance incentives for the all-electric sedan. Customers can reserve a Model 3 for RMB 1,000 ($137) and have the option to take delivery of a current generation Tesla Model 3 with all the current incentives or wait for a Model 3 Project Highland unit.

Portfolio Pulse from Benzinga Neuro

August 18, 2023 | 8:24 am

BTCUSD

DOGEUSD

ETHUSD

PEPEUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) fell by 12% in a single day, underperforming compared to Dogecoin (CRYPTO: DOGE) and Pepe Coin (CRYPTO: PEPE). This decline comes after the launch of the Ethereum (CRYPTO: ETH) layer 2 solution, Shibarium, which faced technical difficulties. Bitcoin (CRYPTO: BTC) also saw a significant drop, falling below the $26,000 mark for the first time in two months.

Portfolio Pulse from Mehab Qureshi

August 18, 2023 | 7:55 am

ATHX

Athersys, Inc. has announced the pricing of its public offering of 10.9 million shares at $0.32 per share, raising $3.5 million. The company will also issue Series A and Series B Warrants to purchase up to an aggregate of 10.9 million shares of common stock each, exercisable immediately and expiring in five years and one and a half years, respectively.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:24 am

AMAT

FTCH

KEYS

ROST

Applied Materials and Ross Stores reported better-than-expected earnings and revenues, causing their stocks to rise. Farfetch's stock fell due to weak quarterly results and its exit from the beauty category. Keysight Technologies' stock also fell despite an earnings beat due to concerns over soft guidance. Deere & Company is expected to report earnings.

Portfolio Pulse from Lisa Levin

August 18, 2023 | 6:50 am

AAPL

AMZN

GOOGL

MSFT

QQQ

TSLA

Tesla's stock has fallen about 25% since its Q2 results on July 19, underperforming against mega-cap tech peers. Future Fund's Gary Black attributes this to CEO Elon Musk's comments on imminent vehicle price cuts. Tesla's average selling price has declined 20% YoY globally, and the 2023 EPS has fallen 36% YTD and 41% YoY. However, Black remains optimistic due to increasing global EV adoption and Tesla's strong product and visionary CEO.

Portfolio Pulse from Shanthi Rexaline

August 18, 2023 | 6:37 am