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Major cryptocurrencies traded mixed following the U.S. central bank's decision to raise the interest rate by 25 basis points. Despite the rate hike, investors remain hopeful that the Federal Reserve will eventually cease its series of interest rate increases. The global crypto market capitalization stands at $1.18 trillion, a 0.93% increase in the last day. The US stock market experienced a decline on Wednesday following a Federal Reserve rate hike and major corporate earnings. Analysts warn that Bitcoin may be prone to corrections post-halving.

Portfolio Pulse from Mehab Qureshi

July 27, 2023 | 2:37 am

BYDDY

CCJ

COIN

EXAS

IOVA

Ark Invest, led by Cathie Wood, has continued to sell shares of Chinese EV maker BYD Co Ltd and Coinbase Global Inc. The firm sold 19,752 shares of BYD through its ARK Autonomous Technology & Robotics ETF and also reduced its holdings in Coinbase by selling 6,992 shares. Additionally, Ark Invest's ARK Genomic Revolution ETF sold shares of Exact Sciences Corp and Iovance Biotherapeutics Inc, and bought shares of Cameco Corp.

Portfolio Pulse from Benzinga Neuro

July 27, 2023 | 1:39 am

SPWR

B of A Securities analyst Julien Dumoulin-Smith has downgraded SunPower (NASDAQ:SPWR) from Neutral to Underperform and lowered the price target from $11 to $7.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:34 pm

BUD

DEO

STZ

TAP

Bud Light, owned by Anheuser-Busch InBev (BUD), has seen a significant drop in sales and market share due to controversies and boycotts. The brand has fallen to fourth place in retail rankings, with a 7.3% market share, and has seen a year-over-year sales drop of 26.1%. Meanwhile, rivals Constellation Brands (STZ) and Molson Coors (TAP) have seen their shares hit 52-week highs. Diageo PLC (DEO), owner of Guinness, is also mentioned as a potential competitor.

Portfolio Pulse from Chris Katje

July 26, 2023 | 11:19 pm

QQQ

SPY

T

TSLA

Benzinga's AI experiment, 'Is ChatGPT A Better Financial Advisor?' is in its eleventh week. The AI-curated portfolio, which started with a hypothetical $10,000, is compared against 10 leading U.S. equity funds. The portfolio has performed well, with a 11.21% increase, and is among the top five contenders. Tesla Inc (TSLA) has been a strong performer in the portfolio, up 56.2% since the start of the experiment, while AT&T Inc (T) has underperformed, with shares down 10.83%.

Portfolio Pulse from AJ Fabino

July 26, 2023 | 10:05 pm

EVTC

EVERTEC has increased its FY23 adjusted EPS outlook from $2.59-$2.68 to $2.75-$2.83, surpassing the consensus estimate of $2.67.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 9:50 pm

EVTC

EVERTEC has increased its FY23 total consolidated revenue forecast from $644M-$652M to $652M-$658M, surpassing the consensus estimate of $649.97M.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 9:48 pm

MXL

MaxLinear has projected its Q3 net revenue to be between $125M and $155M, which is significantly lower than the estimated $184.47M.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 9:43 pm

CNMD

CONMED has increased its FY23 adjusted EPS outlook from $3.30-$3.50 to $3.40-$3.55, which is above the consensus estimate of $3.42.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 9:41 pm

SDC

SmileDirectClub's stock is trading higher following Align Technology's better-than-expected Q2 earnings report.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 9:40 pm