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BMO

BNPQY

MFG

WFC

Regulators have imposed over $500 million in fines on Wall Street banks for unauthorized use of WhatsApp and email for communication between employees. Wells Fargo & Co (WFC) and BNP Paribas (BNPQY) were among the banks fined, with Wells Fargo responsible for $125 million and BNP Paribas for $110 million. Other smaller firms like Mizuho Financial Group Inc (MFG), BMO Capital Markets (BMO), and Wedbush were also fined. Wells Fargo’s stock traded lower by 1.29% to $44.48 following the news.

Portfolio Pulse from Aaron Bry

August 08, 2023 | 8:50 pm

IOSP

Innospec (NASDAQ:IOSP) reported Q2 adjusted earnings of $1.28 per share, missing the analyst consensus estimate of $1.31 by 2.29%. This is a 18.99% decrease from the same period last year. The company also reported quarterly sales of $480.40 million, missing the analyst consensus estimate of $498.47 million by 3.63%. However, this is a 2.74% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:49 pm

SMCI

Super Micro Computer (SMCI) has projected its Q1 adjusted EPS to be between $2.75 and $3.50, compared to the estimated $2.96. The company also expects its revenues to be between $1.9 billion and $2 billion, slightly lower than the estimated $2.03 billion.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:48 pm

AZEK

AZEK, a leading manufacturer of building products, expects its Q4 consolidated net sales to be between $356M and $376M, surpassing the estimated $334.52M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:47 pm

AZEK

AZEK has projected its FY23 consolidated net sales to be between $1.338 billion and $1.358 billion, surpassing the consensus estimate of $1.3 billion.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:46 pm

BTCUSD

QQQ

Bitcoin (BTC) surged by over 2.6% during Tuesday's trading session, marking its strongest daily gain since July 13. The cryptocurrency's rise came despite a 'risk-off' climate impacting U.S. banks, following a wave of downgrades and warnings from Moody's. Bitcoin has historically shown positive reactions when concerns about the stability of traditional banks arise. The cryptocurrency is testing two important resistances: the $30,000 mark and the 50-day moving average. Bitcoin has risen 80% this year, doubling the performance of the Invesco QQQ Trust (QQQ).

Portfolio Pulse from Piero Cingari

August 08, 2023 | 8:46 pm

BABA

A significant number of bearish trades have been observed in Alibaba Group Holding's (NYSE:BABA) options, with 53% of investors showing bearish expectations. The price range targeted by these investors over the last three months is $45.0 to $270.0. The price of BABA is currently down by 2.42% at $94.22. Baird has downgraded its action to Outperform with a price target of $115, while B of A Securities maintains a Buy rating with a price target of $137.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 8:45 pm

DHI

A significant investor has taken a bearish stance on D.R. Horton (NYSE:DHI), with 53% of recent trades being bearish and 46% bullish. The total amount for puts is $463,168 and for calls is $388,700. Whales have been targeting a price range from $123.0 to $135.0 for D.R. Horton over the last 3 months. Several financial institutions have maintained or upgraded their ratings on D.R. Horton, with price targets ranging from $140 to $160.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 8:45 pm

STR

Sitio Royalties Corp has projected its FY23 average daily production to be between 34,000 and 37,000 barrels of oil equivalent per day (Boe/d). The company also reported a cash tax rate of 11%-13%.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:45 pm

CASA

Casa Systems reported Q2 losses of $0.26 per share, missing the analyst consensus estimate of $0.11 by 136.36%. This is a 73.33% decrease from the same period last year. The company also reported quarterly sales of $58.00 million, missing the analyst consensus estimate of $65.00 million by 10.76%. This is an 18.12% decrease from the same period last year.

Portfolio Pulse from vinayak@benzinga.com

August 08, 2023 | 8:43 pm