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A federal appeals court has vacated the SEC's rejection of Grayscale Investments' application to convert the Grayscale Bitcoin Trust into an ETF. This ruling could potentially lead to the approval of more Bitcoin ETFs. Cathie Wood, founder of Ark Invest, had predicted this outcome and believes that the approval of Bitcoin ETFs could increase demand for Bitcoin. Grayscale Bitcoin Trust and Coinbase are significant holdings in several Ark Invest ETFs.

Portfolio Pulse from Chris Katje

August 30, 2023 | 2:05 pm

DELL

Dell Technologies' shares are trading lower, following a similar trend with HP, which experienced a drop after issuing weak guidance.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 2:04 pm

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US stocks traded higher with the Dow Jones gaining around 150 points. The US economy expanded at an annualized pace of 2.1% in Q2 2023. NanoVibronix, AgileThought, and Digital Brands Group saw significant stock increases, while Outlook Therapeutics, TD Holdings, and FibroGen experienced notable drops. The US trade deficit in goods widened to $91.2 billion in July.

Portfolio Pulse from Lisa Levin

August 30, 2023 | 2:04 pm

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Several companies have made significant announcements. Warner Bros. Discovery has appointed Mark Thompson as the new leader of CNN. Hyundai's JV is investing in Korea Zinc to bolster EV battery raw material supply. Toyota's global production and sales increased in July. JetBlue has launched a new non-stop flight from New York to Amsterdam. Alphabet is trialing a new song-searching feature on YouTube. The FDA has criticized Amazon for listing unauthorized drugs. US Steel is evaluating buyout offers. Walmart is asking some pharmacists to take voluntary pay cuts. A lawsuit against Burger King alleging deceptive advertising continues. Chevron has evacuated staff from some oil platforms due to a hurricane. Conn's reported a revenue decline in Q2 FY24, while PVH's Q2 FY23 sales grew.

Portfolio Pulse from Vandana Singh

August 30, 2023 | 2:03 pm

VRA

Vera Bradley Inc (NASDAQ:VRA) reported Q2 FY24 revenue of $128.17 million, missing the consensus of $130.95 million. Direct segment revenues were down 1.5% Y/Y, while indirect segment revenues rose 0.2% Y/Y. Pura Vida segment revenues declined 3.6% Y/Y. Gross margin expanded to 56.2% from 46.4% a year ago. Adjusted EPS was $0.33, beating the estimate of $0.12. The company narrowed its FY24 outlook. VRA shares are trading higher by 10%.

Portfolio Pulse from Lekha Gupta

August 30, 2023 | 2:02 pm

CIEN

Ciena (NYSE:CIEN) is set to release its latest quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $0.51. The company's stock performance has been generally negative over the last 52-week period, with shares down 5.86%. The company's previous quarter saw an EPS beat by $0.13, resulting in a 2.1% increase in share price the next day.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:02 pm

HCP

HashiCorp (NASDAQ:HCP) is set to release its quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $-0.15. The company's past performance shows a pattern of beating EPS estimates but experiencing a drop in share price. The stock is currently trading at $28.69, down 6.11% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:02 pm

CAL

Caleres (NYSE:CAL) is set to release its latest quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $0.88. The company's past performance shows a pattern of share price changes following earnings reports. The stock was trading at $24.67 as of August 29, with a 52-week return of -2.38%.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:01 pm

GCO

Genesco (NYSE:GCO) is set to release its latest quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $-1.23. The company's past performance shows a trend of share price drops following earnings reports. Shares of Genesco were trading at $28.28 as of August 29, with a 52-week decrease of 38.37%.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:01 pm

AMRK

A-Mark Precious Metals (NASDAQ:AMRK) is set to release its latest quarterly earnings report on August 31, 2023. Analysts estimate an earnings per share (EPS) of $1.44. The company's past performance shows a pattern of beating EPS estimates, which has often led to an increase in share price. The stock is currently trading at $34.93 and has seen a 24.46% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 2:01 pm