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QQQ

UUP

The Purchasing Managers’ Index (PMI) data released by S&P Global shows strong resilience in the US private sector's economic activity in July. The US Manufacturing PMI increased from 46.3 in June to 49 in July, while the US Services PMI fell from 54.4 in June to 52.4 in July. The US dollar reacted positively to the release, with the Invesco DB USD Index Bullish Fund ETF (UUP) up 0.2% for the day, while tech stocks, as tracked by the Invesco QQQ Trust (QQQ), shifted into negative territory. The Federal Reserve is expected to raise interest rates by 25 basis points this week.

Portfolio Pulse from Piero Cingari

July 24, 2023 | 2:15 pm

KOD

Trading of shares in Kodiak Sciences has resumed.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:15 pm

CSCO

Cisco Systems Inc.'s stock is currently trading at $52.77, marking a 0.26% increase. Over the past month, the stock has risen by 3.75% and by 20.39% over the past year. The company's P/E ratio is 18.86, lower than the Communications Equipment industry average of 35.02, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 2:15 pm

EL

Estee Lauder's stock has been downgraded from Overweight to Neutral by Piper Sandler, with a lowered price target from $265 to $195. Raymond James also lowered its price target from $240 to $220.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 2:13 pm

APLD

Applied Digital Corporation (NASDAQ:APLD) reported Q4 and full year 2023 financial results, missing revenue estimates but beating EPS estimates. The company reported Q4 revenue of $22 million, missing the analyst consensus estimate of $29.57 million by 25.60 percent, but marking a 192.44% increase over the same period last year. The company also reported a Q4 adjusted loss per share of less than $0.01, beating the analyst consensus estimate of $(0.04) by 75%. Shares of APLD are trading higher on above-average volume.

Portfolio Pulse from Erica Kollmann

July 24, 2023 | 2:12 pm

KOD

Shares of Kodiak Sciences were halted on a circuit breaker to the upside, but the stock is now down by 47.7%.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:10 pm

CHPT

TSLA

ChargePoint Holdings Inc. (CHPT) shares dropped by 1.44% following a decline in several EV and EV-related stocks last week due to Tesla Inc's (TSLA) Q2 earnings results. Tesla's lower than expected gross margins have led to investor caution about the growth prospects of other EV companies, including ChargePoint. This may result in a decrease in ChargePoint's stock price.

Portfolio Pulse from Henry Khederian

July 24, 2023 | 2:10 pm

AAPL

Apple Inc. is expected to increase the prices of its upcoming iPhone 15 Pro and iPhone 15 Pro Max models, according to a Bloomberg report. This would be a rare price hike for the company, which has not increased the prices of its 'Pro Max' iPhones since their introduction in 2018. The new iPhones are expected to be launched at Apple's September hardware event, but shipments could be delayed by a few weeks, according to Bank of America analyst Wamsi Mohan.

Portfolio Pulse from Rounak Jain

July 24, 2023 | 2:08 pm

BMY

IMTX

Immatics N.V. (NASDAQ:IMTX) shares are trading higher after the company announced a $35 million equity investment from Bristol-Myers Squibb Company (NYSE:BMY). Bristol Myers Squibb purchased 2.42 million ordinary shares in a private placement transaction at a subscription price per share of $14.46. The companies had expanded their strategic alliance last year to pursue the development of multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 2:05 pm

AAPL

AMD

GOOGL

MARA

META

MSFT

SPY

TSLA

The upcoming week is expected to be eventful with Fed Chair Jerome Powell and FOMC set for Wednesday, GDP numbers pre-market on Thursday and PCE data on Friday. Companies such as Microsoft, Google, and Meta are also set to report earnings. The author anticipates a possible pullback in the market due to these events, with specific predictions for stocks like Apple, Tesla, Google, AMD, and MARA.

Portfolio Pulse from Mando Trading

July 24, 2023 | 2:03 pm