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OKTA

Shares of Okta Inc (NASDAQ:OKTA) surged after the company reported better than expected Q2 earnings. Analysts from BMO Capital Markets, Oppenheimer, RBC Capital Markets, Needham, Raymond James, and William Blair all provided positive feedback on Okta's performance, highlighting improved sales execution, high gross retention, strong upsell/cross-sell activity, and solid margin expansion. The company's integration of Auth0 was also noted as a positive factor.

Portfolio Pulse from Priya Nigam

August 31, 2023 | 4:14 pm

COIN

GBTC

MSTR

Analysts at German bank Berenberg suggest that the recent legal victory of Grayscale Investments in its effort to turn its Grayscale Bitcoin Trust into an ETF could influence the SEC to approve other spot Bitcoin ETF applications. Stocks linked to cryptocurrencies, such as Coinbase and MicroStrategy, have seen a surge following Grayscale's success. The potential endorsement of a spot Bitcoin ETF could significantly impact the cryptocurrency sector by attracting more institutional investors.

Portfolio Pulse from Murtuza Merchant

August 31, 2023 | 4:12 pm

VSCO

Victoria's Secret & Co (NYSE:VSCO) reported a 6.2% Y/Y decline in Q2 revenue to $1.43 billion, missing the consensus of $1.44 billion. Adjusted EPS of $0.24 also fell short of the expected $0.26. The company anticipates a decrease in net sales and an adjusted EPS loss for Q3. Following the announcement, Wells Fargo, BMO Capital, and B of A Securities reduced their price targets on Victoria's Secret. Despite the downbeat results, the company's shares rose 7.5% to trade at $19.28 on Thursday.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:11 pm

CRWD

CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading nearly 10% higher after the company issued its second-quarter earnings results. The company reported revenues of $731.63 million, a 37% increase YoY, beating the $724.13 million analyst estimate. Earnings per share were 74 cents, surpassing the 56-cent analyst estimate. Analysts from Stifel, Cantor Fitzgerald, Oppenheimer, Needham, and Keybanc Capital Markets provided mixed reviews, with some expressing concerns over decelerating growth rate and competitive environment, while others were optimistic about the company's prospects in Cloud Security, Identity Protection, and LogScale.

Portfolio Pulse from AJ Fabino

August 31, 2023 | 4:11 pm

SPY

USO

According to the U.S. Energy Information Administration, crude production in New Mexico fell by 2.1% to 1.764M barrels/day in June, marking the lowest level since November 2022.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 4:10 pm

SPY

USO

The U.S. Energy Information Administration reports a 3.3% increase in crude production in North Dakota to 1.155M barrels/day in June, the highest since December 2020.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 4:09 pm

SPY

USO

The U.S. Energy Information Administration (EIA) reported that U.S. crude production in Texas rose by 1.1% to a monthly record high of 5.518 million barrels per day in June.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 4:08 pm

EFSH

1847 Holdings announced the successful restructuring of promissory notes to non-dilutive debt instruments, which has led to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 4:07 pm

AMZN

EBAY

HYMTF

MBGAF

TSLA

WKSP

WMT

Worksport Ltd. has revealed its sales strategy, which includes the world’s first solar-powered tonneau cover SOLIS and the portable battery system COR. The company has secured a $1.6 million order and announced four sales partners. Its products will be available on Amazon, Walmart, and eBay. A customized version of its products will be part of Hyundai's Santa Cruz 2024 pickup. Mercedes Benz Group AG has announced that its first high-power charging station will be operational this fall. The company plans to expand its global charging network to more than 2,000 points by the end of 2024.

Portfolio Pulse from Upwallstreet

August 31, 2023 | 4:07 pm

SPY

USO

According to the U.S. Energy Information Administration (EIA), crude oil production in June increased by 1.6% to 12.844 million barrels per day, marking the highest level since February 2020.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 4:07 pm