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The stock market pulled back from the mini resistance zone due to signs that the AI frenzy is breaking. This was triggered by earnings from Super Micro Computer Inc (SMCI) which showed that it was not selling as many AI servers as investors had hoped for, causing a sell-off in NVIDIA Corp (NVDA). Money flows are negative in NVDA but positive in Amazon.com, Inc. (AMZN), Microsoft Corp (MSFT), Alphabet Inc Class C (GOOG), Meta Platforms Inc (META), Tesla Inc (TSLA), and Apple Inc (AAPL). Money flows are also positive in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

August 10, 2023 | 2:55 pm

HBI

HanesBrands Inc reported a 5% YoY decline in Q2 2023 sales to $1.44 billion, missing the analyst consensus estimate of $1.46 billion. The company's Innerwear sales increased 3% YoY, while Activewear sales declined 19%. Global Champion brand sales decreased 16%. The company's gross margin contracted 430 basis points YoY to 33.5%. HanesBrands expects 2023 sales of $5.8 billion to $5.9 billion, lower than the estimate of $6.05 billion. HBI shares are trading lower by 3.1%.

Portfolio Pulse from Shivani Kumaresan

August 10, 2023 | 2:53 pm

HCANF

Halo Collective Inc. reported a 32% decrease in FY22 revenue to $24.5M, compared to $36.2M in FY21. Despite the decline, the company saw improvements in gross profit and margins. The decrease in revenue was primarily attributed to pricing challenges in the cannabis markets of Oregon and California. The company is focusing on optimizing operations and product mix to drive long-term growth.

Portfolio Pulse from Vuk Zdinjak

August 10, 2023 | 2:53 pm

LQR

Trading of LQR House shares has been halted due to a circuit breaker triggered by a significant upward price movement.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 2:52 pm

ASB

CMA

HSBC

OPHC

VBFC

The article identifies five value stocks in the financial services sector: Comerica (CMA), Village Bank & Trust Finl (VBFC), Associated Banc (ASB), HSBC Holdings (HSBC), and OptimumBank Hldgs (OPHC). All these companies have low P/E multiples, indicating they may be undervalued. However, all of them have also reported a decrease in earnings per share and dividend yield in the most recent quarter.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 2:49 pm

TAST

Carrols Restaurant Group, Inc. (NASDAQ:TAST) reported Q2 FY23 sales growth of 9.8% YoY to $485.22 million, beating the consensus of $475.23 million. Adjusted EPS of $0.27 beat the analyst consensus of $0.02. The company's Burger King and Popeyes restaurants saw comparable sales increase by 10.4% and 11.6% respectively. The company's net debt totaled $435.89 million at the end of the quarter.

Portfolio Pulse from Nabaparna Bhattacharya

August 10, 2023 | 2:46 pm

LQR

Shares of LQR House have started trading at $5 per share.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 2:46 pm

BAM

Brookfield Asset Management's stock is trading higher following BMO Capital's decision to maintain a Market Perform rating on the stock and increase its price target from $33 to $34.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 2:45 pm

NRP

Natural Resources (NYSE:NRP) has announced a quarterly dividend of 75 cents per share. The ex-dividend date is Tuesday, meaning the stock will likely open 75 cents lower to reflect the payout. Shareholders who own NRP as of the end of Monday's session are eligible to receive the dividend, which will be paid out on August 23, 2023.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 2:45 pm

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) reported Q3 losses of 12 cents per share, beating the analyst consensus estimate of a loss of 17 cents per share. However, the company missed the analyst consensus estimate of $45.71 million in sales, reporting $45.52 million instead. CleanSpark's CEO announced that the company operates over 9 EH/s of efficient computing power and has over $90 million in cash and almost 1,200 bitcoins on its balance sheet. HC Wainwright & Co. analyst Mike Colonnese maintained a Buy rating on CleanSpark and raised the price target from $12 to $14.

Portfolio Pulse from Erica Kollmann

August 10, 2023 | 2:41 pm