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Stock Prices

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares slumped nearly 10% following the company's Q2 earnings, wiping off roughly $90 billion off the company's market capitalization. This was despite the company exceeding top- and bottom-line expectations. The drop was attributed to an increase in the 'other income' component, a production warning for Q3, hints at more price cuts, and a lack of clarity on the margin outlook. CEO Elon Musk's net worth fell by $20.3 billion as a result.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 10:13 am

JNJ

NFLX

TSLA

US markets ended mixed on Thursday, with Tesla and Netflix dragging S&P 500 and NASDAQ lower, while Dow Jones recorded a nine-day winning streak following strong Q2 earnings from Johnson & Johnson. Asian markets closed lower on Friday, with Japan's Nikkei 225, Australia's S&P/ASX 200, Shanghai Composite, and Shenzhen CSI 300 all recording losses. However, the Hang Seng index in Hong Kong closed higher. In the Eurozone, the Pan-European STOXX 600 index was up, while the DAX index in Germany traded lower. The U.K.'s FTSE 100 traded higher following stronger than expected retail sales data.

Portfolio Pulse from Akanksha Bakshi

July 21, 2023 | 10:11 am

NFLX

TSLA

CNBC Mad Money host Jim Cramer has termed Tesla Inc (TSLA) and Netflix Inc (NFLX) as the greatest investments of all time. This comes after both companies reported their Q2 earnings. However, both stocks closed down on Thursday, with Tesla shares falling 9.7% and Netflix down 8.4%. Tesla's stock dipped after the earnings call due to lack of a clear timeline for the delivery of its upcoming Cybertruck and a warning that production will slow down in Q3.

Portfolio Pulse from Anan Ashraf

July 21, 2023 | 10:08 am

ABT

BAC

JNJ

JPM

WFC

CNBC's Jim Cramer has identified potential winners as the market shifts focus away from tech. He highlighted sectors such as industrials, healthcare, and financials. His top picks include Johnson & Johnson (JNJ), Abbott Labs (ABT), JP Morgan (JPM), Wells Fargo (WFC), and Bank of America (BAC). He also suggests looking at the utilities sector but warns investors to understand the fundamentals of a company before investing.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 10:07 am

NFLX

TSLA

The S&P 500 closed lower on Thursday due to losses in shares of Tesla Inc and Netflix Inc. Tesla's shares dipped 9.7% after reporting lower second-quarter gross margin. Netflix also contributed to the decline. The Dow, however, gained for the ninth straight session. The Nasdaq 100 dipped 2.28% amid these losses. The CBOE Volatility Index rose 1.7% to close at 13.99 on Thursday.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 9:57 am

AZPN

Loop Capital analyst Mark Schappel has downgraded Aspen Technology (NASDAQ:AZPN) from Buy to Hold and lowered the price target from $240 to $170.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 9:49 am

QBTS

D-Wave Quantum Inc (NYSE:QBTS) has provided Q2 2023 preliminary revenues below the consensus, expecting revenues in the $1.65 million-$1.80 million range, below the consensus of $2.3 million. The company has also cut its 2023 outlook for revenue to $11 million-$13 million, down from $12 million-$13 million. Despite this, QBTS shares are trading higher by 1.09% at $2.78 premarket.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 9:49 am

KNX

Knight-Swift Transportation Holdings Inc. reported lower than expected Q2 earnings and reduced its 2023 EPS outlook, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 9:47 am

SIRI

Evercore ISI Group analyst Vijay Jayant has downgraded Sirius XM Holdings (NASDAQ:SIRI) from In-Line to Underperform and set a price target of $4.5.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 9:29 am

SIRI

Pivotal Research analyst Jeffrey Wlodarczak has downgraded Sirius XM Holdings (NASDAQ:SIRI) from Hold to Sell, while raising the price target from $4 to $4.5.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 9:27 am