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AAPL

AMZN

IEP

TSLA

The S&P 500 closed lower for the fourth straight session due to the latest jobs and earnings data. The U.S. economy added fewer jobs than expected in July, and the unemployment rate fell to 3.5%. Apple Inc. shares declined 4.8% due to a continued decline in sales, while Amazon.com, Inc. shares surged after strong quarterly results. Icahn Enterprises L.P. shares fell over 23% after weak Q2 results. The Nasdaq 100 fell 0.51% amid losses in shares of Apple Inc and Tesla Inc.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 9:36 am

NET

Guggenheim analyst John Difucci has downgraded Cloudflare (NYSE:NET) from Neutral to Sell and set a price target of $50.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 9:32 am

SAGE

RBC Capital analyst Brian Abrahams has downgraded Sage Therapeutics (NASDAQ:SAGE) from Outperform to Sector Perform and lowered the price target from $71 to $25.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 9:30 am

LUV

Redburn Partners analyst James Goodall has downgraded Southwest Airlines (NYSE:LUV) from Neutral to Sell and set a price target of $27.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 9:14 am

NGVT

BMO Capital analyst John McNulty has downgraded Ingevity (NYSE:NGVT) from Outperform to Market Perform and lowered the price target from $71 to $60.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 9:14 am

DIS

Disney (NYSE:DIS) and Florida Governor Ron DeSantis continue their feud over the 'Don't say gay' law. DeSantis has allegedly retaliated against Disney's opposition to the law by taking over the Disney World governing district and appointing his nominees to the governing board. This has led to Disney scaling back its investment in Florida and filing a federal lawsuit against DeSantis. The feud has negatively impacted both parties, with Disney's approval rating falling and DeSantis trailing in the Republican presidential primary. Disney's stock was up 0.52% in premarket trading on Monday.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 9:10 am

TSLA

Future Fund's Gary Black predicts that Tesla's revenue will grow by 24% per year between 2023 and 2027, overtaking Ford and General Motors by 2026 and 2027 respectively. He also expects Tesla's 2024 volume growth to be 53%, nearly double the Street's growth estimate of 27%, and 2024 earnings per share of $5.40, well above the consensus of $4.70. Black suggests that Tesla should be valued more like a tech company than an automaker.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 9:02 am

TIVC

Tivic Health has priced a public offering of 33.17 million shares at $0.041/share, raising $1.4 million. Following this news, the company's shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 8:11 am

ACM

CPRT

HSIC

TSN

Tyson Foods, Henry Schein, Copart, Celanese Corporation, and AECOM are the stocks to watch heading into Monday. Tyson Foods and Henry Schein are expected to post their quarterly earnings before the opening bell, while Copart announced a 2-for-1 stock split. Celanese Corporation and AECOM are projected to post their quarterly earnings after the closing bell.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 8:04 am

AMZN

GOOGL

MSFT

The Q2 results of Amazon (AWS), Microsoft (Azure), and Google Cloud show significant shifts in the cloud industry. Enterprise spending on cloud infrastructure services increased by $10 billion YoY to reach $65 billion, marking an 18% growth rate. Amazon maintained its top position despite underperforming in terms of growth compared to Microsoft and Alphabet. AWS reported net sales of $22.14 billion, a 12.16% YoY increase. Azure reported a 26% YoY revenue growth, and Google Cloud registered revenue of $8.03 billion, a 27.96% YoY growth.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 7:34 am