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F

RIVN

TSLA

Needham analyst Chris Pierce has increased the price target for Rivian Automotive, Inc. (NASDAQ:RIVN) from $28 to $31, suggesting a 19% upside from the current levels. This comes ahead of Rivian’s Q2 results and follows another iteration of its electric vehicle OEM used vehicle price tracker. Pierce also compared Rivian to Ford Motor Co.’s (NYSE:F) F-150 Lightning, noting that Rivian performed better in Needham’s weekly check of used vehicle prices. Rivian's stock ended Thursday's session down 4.05% at $26.05.

Portfolio Pulse from Shanthi Rexaline

July 28, 2023 | 9:11 am

FFND

TSLA

Tesla's stock has fallen by 12% since the company reported its Q2 results, reflecting investor concerns about potential price cuts and margin erosion. Future Fund's Gary Black attributes the decline to fears of further price cuts and regulatory risks surrounding Tesla's self-driving software. However, Black remains bullish on Tesla, citing several potential catalysts that could boost the stock, including gross margin stabilization, the launch of new models, and a potential $10 billion buyback in 2024. Tesla is the second biggest holding of Future Fund's Active ETF (FFND).

Portfolio Pulse from Shanthi Rexaline

July 28, 2023 | 9:00 am

LCID

Lucid Motors (NASDAQ:LCID) has teased the release of its limited-production Air Sapphire, a luxury electric super-sports sedan. The vehicle, which is expected to be available soon, will be sold in the U.S. and Canada for $249,000 USD and $325,000 CAD, respectively. The Air Sapphire can deliver over 1,200 horsepower with its three-motor powertrain and can accelerate from 0-60 mph in less than 2 seconds. In recent tests, the Sapphire prototype outperformed a Ferrari SF90 Spider and beat a Tesla Model S Plaid and a Bugatti Chiron Pur Sport in a quarter-mile drag race.

Portfolio Pulse from Anan Ashraf

July 28, 2023 | 8:41 am

DXCM

DexCom's shares are trading higher following the company's Q2 FY23 results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 8:41 am

SNBR

Sleep Number reported mixed Q2 results, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 8:38 am

SG

Sweetgreen reported worse-than-expected Q2 FY23 results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 8:13 am

CVX

F

INTC

PG

XOM

Chevron, Intel, Procter & Gamble, Ford, and Exxon Mobil are the stocks to watch heading into Friday. Chevron is expected to post quarterly earnings of $3.13 per share on revenue of $48.17 billion. Intel reported better-than-expected Q2 results and issued strong guidance. Procter & Gamble is expected to have earned $1.32 per share on revenue of $19.98 billion. Ford reported upbeat Q2 earnings and raised its FY23 adjusted EBIT guidance. Exxon Mobil is expected to report quarterly earnings of $2.01 per share on revenue of $80.19 billion.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 8:12 am

EWG

VGK

Germany's Q2 Gross Domestic Product (GDP) has decreased by 0.2% quarter-on-quarter, compared to the estimated 0.1%. The year-on-year GDP has also decreased by 0.6%, compared to the prior -0.2%.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 8:01 am

CL

META

PG

XOM

Investor sentiment in the US has declined, as indicated by the CNN Money Fear and Greed index. The Dow Jones closed lower on Thursday, snapping a 13-day win streak. Meta Platforms, Inc. reported better-than-expected Q2 results, causing its shares to jump around 4.4%. The US economy grew by an annualized 2.4% QoQ in Q2, higher than market estimates of 1.8%. Investors are awaiting earnings results from Colgate-Palmolive Company, The Procter & Gamble Company, and Exxon Mobil Corporation.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 7:04 am

EWQ

VGK

France's Harmonised Index of Consumer Prices (HICP) for the month shows no change, falling short of the estimated 0.1% increase and the previous 0.2% increase.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 6:51 am