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APPL

BRK

Berkshire Hathaway's investment in Apple is set to yield significant dividends following Apple's strong Q2 performance. Apple announced a common stock dividend of $0.24 per share, which for Berkshire's 915,560,382 shares, equates to a dividend of $219.74 million. The fair value of Berkshire's Apple investment increased from $151 billion to $177.6 billion in Q2, potentially due to Apple's stock price increase or additional shares accumulated.

Portfolio Pulse from Shanthi Rexaline

August 06, 2023 | 2:16 pm

BTCUSD

Cryptocurrency analyst Tone Vays predicts that Bitcoin (BTC) will trend upwards as long as the support level at $28,000 is not breached. He suggests that Bitcoin could appreciate by around 17% from the current level, but should rise and stay above $30,000 for a couple of days. However, the risk of BTC witnessing further corrections will likely rise if Bitcoin plunges below the support level around $28,500.

Portfolio Pulse from Bibhu Pattnaik

August 06, 2023 | 12:53 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

The past week in the crypto sector saw significant developments including a SEC lawsuit against internet marketer Richard Heart, which led to a decline in major cryptocurrencies. X, formerly known as Twitter, is considering adding Bitcoin and Dogecoin trading. Dogecoin showed signs of a possible bull flag, while Shiba Inu unveiled a security enhancement. Florida Governor Ron DeSantis made a statement about the future of Bitcoin under his potential presidency.

Portfolio Pulse from Benzinga Neuro

August 06, 2023 | 1:19 am

LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) has announced significant price reductions across its electric vehicle models, with the cheapest model now starting at $82,400, down from $92,900. The company also plans to offer a cheaper Air Pure rear-wheel drive model at $77,400. The price cuts are part of Lucid's larger sales and marketing efforts to drive demand and deliveries. The company is also offering exclusive lease and financing options through Lucid Financial Services. The price cuts come as Lucid struggles with lower-than-expected Q2 production and deliveries and liquidity issues.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 9:22 pm

FSR

IEP

MDT

NKLA

PYPL

Barron's has covered several stories over the weekend, including the sell-off of medtech stocks such as Medtronic, Edwards Lifesciences, and Boston Scientific due to rising interest in the weight-loss drug Ozempic. PayPal's stock was downgraded due to competition from Apple Pay and declining margins. Nikola Corp's stock fell by 26% following approval to issue more shares and the announcement of a new CEO. Fisker Inc reported disappointing sales and cut its production guidance despite beating earnings forecasts. Icahn Enterprises cut its quarterly distribution and reported a larger Q2 loss.

Portfolio Pulse from Justin Chan

August 05, 2023 | 9:13 pm

ARKF

ARKK

ARKW

GOOGL

HOOD

Ark Invest, led by Cathie Wood, has purchased 933,663 shares of Robinhood Markets, Inc. (NASDAQ:HOOD) across its three funds, ARK Innovation ETF (NYSE:ARKK), Ark Fintech Innovation ETF (NYS: ARKF) and Ark Next Generation Internet ETF (NYSE:ARKW), totaling $10.66 million. This comes as Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) significantly reduced its stake in Robinhood.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 7:51 pm

BONEUSD

ETHUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) and Bone Shiba Swap (CRYPTO: BONE) experienced significant gains over the weekend, with SHIB gaining about 20% and BONE rallying nearly 23%. The rally comes despite a risk-off mood in the broader financial market due to Fitch's downgrade of the U.S. sovereign rating. The sentiment towards these cryptos has improved ahead of the launch of Shiba Inu's blockchain project, Shibarium, which is expected to be more energy-efficient and faster than Ethereum (CRYPTO: ETH).

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 5:02 pm

AAPL

AXP

BAC

BRK

CVX

Berkshire Hathaway reported Q2 results showing a modest increase in operating income and a reversal to gain in investment income, thanks to the equity market rally. The firm's operating earnings were $10.04 billion, higher than last year's $9.42 billion. The increase in operating income was due to an increase in insurance underwriting income and insurance investment income. The firm's investment and derivative gains were $25.87 billion, reflecting investment gains from equity securities. The company's cash and cash equivalents increased to $147.377 billion. About 78% of Berkshire's aggregate fair value of equity investments were concentrated in Apple, Bank of America, American Express, Coca-Cola, and Chevron.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 4:28 pm

AAPL

Apple Inc's market value has dipped below $3 trillion due to concerns over the company's fourth-quarter outlook and sluggish demand for smartphones and other electronic devices. The company's shares experienced a significant drop of 4.8%, leading to a market capitalization of approximately $2.85 trillion. Rosenblatt Securities downgraded the stock to neutral, citing a slowdown phase.

Portfolio Pulse from Bibhu Pattnaik

August 05, 2023 | 3:51 pm

BLK

HOOD

JPM

MSCI

TSLA

UBER

The major stock indexes experienced a down week, with the Nasdaq, S&P, and Dow falling by roughly 2.9%, 2.3%, and 1.1% respectively. Fitch Ratings lowered the U.S. government's credit rating from AAA to AA+. Despite this, the job market remained robust with the unemployment rate dropping to 3.5%. Tesla, Inc. (TSLA) was suggested to buy Uber Technologies, Inc. (UBER) to capitalize on autonomous ride-hailing. Robinhood Markets, Inc. (HOOD), Uber, and Wayfair Inc. (W) achieved unexpected profitability in Q2. X, formerly Twitter, is exploring the possibility of building a trading hub for cryptocurrencies. Ford Motor Co's (F) Q2 revenue surge overshadowed a $4.5 billion loss in EV. BlackRock Inc (BLK) and MSCI Inc (MSCI) are under scrutiny for allegedly channeling investments into Chinese companies accused of human rights violations. JPMorgan Chase & Co (JPM) CEO Jamie Dimon expressed heightened concern over fiscal spending, quantitative tightening, and the Ukraine crisis.

Portfolio Pulse from Michael Cohen

August 05, 2023 | 1:20 pm