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BLDR

Builders FirstSource Inc (NYSE:BLDR) reported a Q2 FY23 sales decline of 34.6% YoY to $4.53 billion, beating the consensus of $4.25 billion. The sales fall was driven by a decline in core organic net sales and commodity deflation, partially offset by acquisitions. The company's gross profit decreased 33.9% to $1.6 billion, and the profit margin expanded to 35.2%. The company repurchased 7 million shares at an average price of $103.68 for $722.7 million during the quarter. For FY23, the company sees sales of $16.8 billion - $17.8 billion against the consensus of $16.46 billion.

Portfolio Pulse from Akanksha Bakshi

August 04, 2023 | 11:34 am

BPMC

Blueprint Medicines reported Q2 financial results, which led to a decrease in its share prices. The overall market weakness may also be contributing to the stock's decline.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:34 am

AMD

NVDA

QQQ

SPY

Nvidia Corp's stock is trading lower along with the broader market after Fitch downgraded the U.S. credit rating. Advanced Micro Devices reported its Q2 beat and shared plans to ramp up production of its AI chips, potentially competing with Nvidia. Analysts claim Nvidia as the biggest beneficiary of the AI game, but untapped demand from Microsoft, Alphabet, and Apple could fuel potential for AMD. The broader index ETFs, SPDR S&P 500 and Invesco QQQ Trust, are also trading lower.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 11:34 am

AAPL

AMD

META

MSFT

QQQ

SPY

Market Clubhouse's Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, AMD, and META. The analysis is based on a proprietary formula that considers price, volume, and options flow. The memo suggests potential price levels for each stock and advises traders to stay alert and adjust their tactics based on market conditions. The market's primary focus is expected to be on digesting the Fitch downgrade.

Portfolio Pulse from RIPS

August 04, 2023 | 11:34 am

LUMN

Lumen Technologies reported Q2 financial results, which led to a decrease in its share price. The overall market weakness may also be contributing to the stock's decline.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:34 am

LPX

Louisiana-Pacific Corporation reported worse-than-expected Q2 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:34 am

INFY

Infosys's (NYSE:INFY) short percent of float has fallen 4.08% since its last report, indicating a decrease in bearish sentiment. The company has 58.64 million shares sold short, which is 1.41% of all regular shares available for trading. Compared to its peers, Infosys has less short interest as a percentage of float, with an average of 4.64%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:34 am

F

Ford Motor Co reported a 5.9% increase in total vehicle sales in July, with 173,639 units sold.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:34 am

GPRO

GoPro (NASDAQ:GPRO) is set to release its latest quarterly earnings report on August 3, 2023. Analysts estimate an earnings per share (EPS) of $-0.07. The company's past performance shows a trend of share price drops following earnings reports. Shares of GoPro were trading at $4.11 as of August 01, with a 52-week decrease of 41.67%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:33 am

SPT

Sprout Social (NASDAQ:SPT) is set to release its quarterly earnings report on August 3, 2023. Analysts estimate an earnings per share (EPS) of $-0.02. The company's past performance shows a mixed impact on the share price post-earnings release. The stock is currently trading at $56.13, down 10.03% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:33 am