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TSLA

Tesla shares are trading lower due to a negative sentiment in growth stocks following Fitch's downgrade of US Treasuries.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:43 am

VMC

Vulcan Materials's (NYSE:VMC) short percent of float has risen 3.36% since its last report, with 1.45 million shares sold short, which is 1.23% of all regular shares available for trading. It would take traders 1.74 days to cover their short positions on average. The company has less short interest than most of its peers, with the average for its peer group being 1.68%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:43 am

CIGI

Colliers International Group reported its Q2 financial results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:43 am

TQQQ

ProShares UltraPro QQQ (TQQQ) shares are down by approximately 6% after Fitch Ratings downgraded the United States' long-term credit rating from AAA to AA+. This move has sent shockwaves through global markets and has affected the nation's fiscal management.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 11:43 am

MTCH

Match Group, Inc. (NASDAQ:MTCH) shares are trading lower despite reporting better-than-expected Q2 results and above-consensus Q3 revenue guidance. The company announced a 4% YoY increase in total revenues and expects Q3 Tinder direct revenue growth of close to 10% YoY. BTIG analyst Jake Fuller upgraded Match Group from Neutral to Buy and announced a $60 price target for MTCH. However, the stock is under pressure amid overall market weakness after Fitch downgraded its rating for US Treasuries.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 11:43 am

AXP

American Express's (NYSE:AXP) short percent of float has fallen 4.31% since its last report, with 6.49 million shares sold short, which is 1.11% of all regular shares available for trading. It would take traders 2.94 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 8.64%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:43 am

OTIS

Otis Worldwide's (NYSE:OTIS) short percent of float has risen 14.89% since its last report, with 4.46 million shares sold short, which is 1.08% of all regular shares available for trading. It would take traders 2.98 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Otis Worldwide's peer group average for short interest as a percentage of float is 4.23%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 11:43 am

CDW

CDW Corp reported a Q2 FY23 net sales decline of 8.5% Y/Y to $5.63 billion, beating the consensus of $5.40 billion. Gross margin expanded to 21.0% from 19.0% a year ago, aided by higher product margin on the lower mix in notebooks, increased rate across various categories, and a favorable mix of netted down revenue. Non-GAAP EPS of $2.56 beat the consensus of $2.35. CDW declared a quarterly cash dividend per share of $0.59. CDW shares are trading higher by 6.66% at $199.80.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 11:42 am

ADI

AMD

Semiconductor and chip stocks are trading lower due to light quarterly guidance from AMD and a downgrade of the US's long-term credit rating by Fitch. This has put pressure on broader tech and growth stocks.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:42 am

SITE

SiteOne Landscape Supply reported Q2 financial results and weak H2 guidance, causing its shares to trade lower. The overall market weakness may also be contributing to the stock's decline.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:42 am