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The Dow Jones edged higher while NASDAQ and S&P 500 fell. Energy shares jumped by 1.7% while information technology shares fell 0.7%. Wendy's reported upbeat earnings but missed sales estimates. Benitec Biopharma, Decibel Therapeutics, and Renovaro Biosciences saw significant stock increases. Palisade Bio, Tigo Energy, and WeWork saw significant stock decreases.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 6:59 pm

LYFT

Lyft shares fell over 9% after the company reported Q2 earnings and issued guidance. Q2 sales were $1.02 billion, a 3.05% increase YoY, meeting analyst consensus. Q3 revenue is expected between $1.13 billion and $1.15 billion, above the $1.09 billion estimate. Several analysts updated their price targets on the stock, with mixed adjustments.

Portfolio Pulse from Ryan Gustafson

August 09, 2023 | 6:58 pm

AZEK

Stephens analyst Noah Merkousko reiterated an Overweight rating on The AZEK Company Inc. (AZEK) and raised the price target to $40 from $32. This follows AZEK's Q3 results, which exceeded estimates, and the company's raised fiscal year 2023 adjusted EBITDA outlook. The company's residential business has shown impressive performance, significantly outpacing market growth. Merkousko also raised Q4 and FY23 net sales guidance for AZEK.

Portfolio Pulse from Nabaparna Bhattacharya

August 09, 2023 | 6:57 pm

BABA

Mizuho analyst James Lee maintains a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $145. Lee expects Alibaba's June quarter top line to reflect a recovery in consumer consumption, with GMV growth at 7.5% YoY. The analyst also predicts China Commerce EBITA of 49 billion RMB, ahead of the consensus of 47 billion, reflecting continued progress on loss reductions across all segments. Alibaba's shares are trading higher by 1.05% at $95.21.

Portfolio Pulse from Anusuya Lahiri

August 09, 2023 | 6:56 pm

OLPX

Telsey Advisory Group analyst Dana Telsey downgraded Olaplex Holdings, Inc. (NASDAQ:OLPX) from Outperform to Market Perform, lowering the price target to $4 from $6. This follows disappointing Q2 results and a reduced FY23 outlook due to macro challenges in the consumer and professional segments. OLPX's revised guidance now looks for investments in sales and marketing to support stabilization in trends instead of growth.

Portfolio Pulse from Nabaparna Bhattacharya

August 09, 2023 | 6:51 pm

DDD

3D Systems Corporation reported a Q2 revenue decline of 8.5% YoY to $128.2 million, missing the consensus of $134 million. The company also reported an adjusted EPS of $(0.07), missing the consensus loss of $(0.05). The company lowered its FY23 revenue outlook to $525 million - $545 million from the prior expectation of $545 million and $575 million. DDD shares are trading lower by 7.73% at $7.46.

Portfolio Pulse from Anusuya Lahiri

August 09, 2023 | 6:51 pm

NDAQ

The New York Stock Exchange (NYSE) and Nasdaq Inc (NASDAQ:NDAQ) are competing for new stock listings, indicating a revival of the IPO market. Nasdaq has secured listings for Instacart and Arm, while NYSE has secured Klaviyo and Birkenstock. The competition between the two exchanges is a significant indicator for investors, suggesting a potential influx of IPOs and a shift in the investment landscape.

Portfolio Pulse from AJ Fabino

August 09, 2023 | 6:47 pm

EOG

EOG Resources reported better-than-expected Q2 results, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 6:46 pm

ROP

Roper Techs Inc.'s stock has increased by 3.25% over the past month and by 13.53% over the past year. The company's P/E ratio of 44.95 is lower than the Software industry's aggregate P/E ratio of 304.89, which could indicate that the stock is undervalued or that shareholders do not expect the stock to perform better in the future.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 6:45 pm

QDEL

QuidelOrtho shares are trading lower despite reporting better-than-expected Q2 earnings.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 6:40 pm