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QS

QuantumScape Corp (NASDAQ:QS) shares dropped by 11.3% after the company announced a $300 million public offering of Class A common stock. The underwriters have a 30-day option to purchase up to an additional 5.6 million shares at the offering price. The offering is set to close on August 8. Evercore ISI and Morgan Stanley were joint lead book-running managers, with Goldman Sachs & Co. LLC and UBS Investment Bank as additional book-running managers.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 3:32 pm

ITT

ITT (NYSE:ITT) has received 5 analyst ratings in the last quarter, with 2 being bullish and 3 somewhat bullish. The average price target is $110.8, indicating an upside from the current price of $101.255. The average price target has increased by 7.57% over the past month.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 3:31 pm

BTCUSD

ETHUSD

SPAUSD

Sperax (CRYPTO: SPA) has surged by 34% in the last 24 hours, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Over $3.59 million worth of Sperax has been traded in one day, with Coinbase being the major exchange platform for these trades. Sperax is a suite of yield automation tools built on two protocols. The Sperax team is currently upgrading the USDs protocol to version 2.0.

Portfolio Pulse from Mehab Qureshi

August 04, 2023 | 3:31 pm

RETO

Shares of ReTo Eco-Solutions (RETO) have resumed trading but were halted again due to a circuit breaker triggered by a 26.5% drop in the stock price.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:31 pm

AEO

Traders are circulating a rumor that Gordon Haskett's Bilson believes there is a significant activist in American Eagle Outfitters. Bilson also mentioned that Barclays was buying the company for someone in Q2 and exited Q2 as a top-10 holder.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:31 pm

ACAX

Alset Capital Acquisition Corp. (NASDAQ:ACAX) has provided an update on stockholder redemptions. As of July 28, 2023, public stockholders holding 1,934,749 shares out of a total of 1,976,036 shares of Class A common stock have submitted requests to redeem their shares for a pro rata portion of the trust account holding the proceeds from Alset's initial public offering. The redemption price was approximately $10.50. Alset will be accepting requests to withdraw previously submitted redemption requests until August 7, 2023.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:31 pm

INTU

Intuit's (NYSE:INTU) short percent of float has risen 25.21% since its last report, with 4.05 million shares sold short, which is 1.49% of all regular shares available for trading. It would take traders 2.94 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Intuit's peer group average for short interest as a percentage of float is 3.15%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 3:31 pm

NKLA

Nikola Corp reported a 15.3% YoY decline in Q2 FY23 sales to $15.36 million, slightly missing the consensus of $15.43 million. The company's gross loss was $27.6 million, and adjusted EBITDA loss expanded to $125.1 million. Nikola produced 33 trucks in Q2, down from 50 last year, and shipped 45 trucks, down from 48 in 2022. The company also announced that CEO Michael Lohscheller would step down, with Chairman Stephen Girsky taking over. Following the news, NKLA shares fell by 10.6%.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:31 pm

AMCX

AMC Networks Inc. reported a Q2 FY23 revenue decline of 8% YoY to $678.63 million, missing the consensus of $717.48 million. Adjusted operating income decreased 10% to $177 million. However, adjusted EBITDA improved by $68.8 million to $7.1 million and operating cash flow increased to $158 million, up from $41 million a year ago. AMC shares surged 17.35% higher to $14.41 during early trading on Friday.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:31 pm

FUBO

FuboTV Inc reported Q2 FY23 sales growth of 41% YoY to $312.7 million, beating the consensus of $301.9 million. Adjusted EPS loss of $(0.12) beat the consensus loss of $(0.23). The company ended the quarter with $299.7 million of cash and equivalents. FuboTV sees Q3 North America revenue of $272.5 million-$277.5 million and Rest of the World revenue of $7.2 million-$8.2 million. FUBO shares were up 9.3% at $3.50 at last check Friday.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:31 pm