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WETG

Chinese companies' shares are trading lower following the filing for Chapter 15 bankruptcy protection in NY by property developer, China Evergrande Group.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 3:45 pm

WOLF

Wolfspeed's shares are trading lower following the company's mixed Q4 financial results and Q1 adjusted EPS guidance that fell below estimates.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 3:44 pm

ADT

An option alert has been issued for ADT Inc. for January 19 $8 calls. A total of 3491 contracts were traded near the ask price of $0.201, compared to an open interest of 82 contracts. The reference price is $6.37.

Portfolio Pulse from Charles Gross

August 18, 2023 | 3:43 pm

TSLA

Tesla shares are trading lower due to rising yields, Chinese economic uncertainty, recent price cuts, and weakness in China rival XPeng.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 3:42 pm

SPY

The CBOE Put/Call ratio, a key market sentiment indicator, has surged above the critical 1 level benchmark, indicating a bearish market sentiment. This suggests that traders are increasingly buying put options over call options, indicating a demand for protection and speculation on possible market declines. Michael Hartnett, chief investment strategist at Bank of America, warned that this could lead to a risk off in markets and a possible retest of the 4,200 level for the S&P 500 Index. The SPDR S&P 500 ETF Trust (NYSE:SPY) is on track to close its third straight week of losses, down over 5% since the start of the month.

Portfolio Pulse from Piero Cingari

August 18, 2023 | 3:42 pm

GOOG

GOOGL

Alphabet Inc's stock dropped about 2.6% during Friday's trading session, despite the announcement of its Android 14 phones coming equipped with emergency SOS via satellite. The stock was affected by the general market, which saw the S&P 500 gap down 0.58% due to concerns about the Federal Reserve's rate hike campaign. Alphabet's stock is likely to continue downwards in the short term, but could be bullish in the long term. The stock's weakness, along with other FAANG stocks, caused volatility in the stock market to spike higher.

Portfolio Pulse from Melanie Schaffer

August 18, 2023 | 3:42 pm

LITE

Analysts have revised their forecasts for Lumentum Holdings Inc (NASDAQ:LITE) following its Q4 FY23 earnings report. The company reported revenue of $370.8 million, down 12.2% Y/Y, beating the consensus of $366.5 million. Adjusted EPS of $0.59 beat the consensus of $0.55. Analysts from Morgan Stanley, Rosenblatt, and Needham have adjusted their revenue and EPS estimates for Q1 and FY24 due to ongoing telecom demand weakness and inventory digestion across the product portfolio.

Portfolio Pulse from Lekha Gupta

August 18, 2023 | 3:40 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) has partnered with TruHC Pharma GmbH, a medical cannabis expert based in Germany. TruHC holds an EU-GDP certification and is expected to receive an EU-GMP license by the end of September. As part of the deal, Hendrik Knopp, a key figure in Germany's medical cannabis landscape, will join Flora's management team. The partnership follows Germany's cabinet approving a marijuana legalization bill. Flora's shares traded 1.4706% higher at $2.07 per share.

Portfolio Pulse from Jelena Martinovic

August 18, 2023 | 3:37 pm

RLX

RLX Technology's shares are trading higher after the company reported its Q2 results.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 3:33 pm

DAL

A whale investor has taken a bullish stance on Delta Air Lines (NYSE:DAL), with 63% of investors opening trades with bullish expectations and 36% with bearish. The whale has been targeting a price range from $39.0 to $55.0 for Delta Air Lines over the last 3 months. The current price of DAL is down -0.67% at $41.5. RSI indicators suggest that the stock may be oversold. Next earnings are expected to be released in 55 days.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 3:31 pm