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Stock Prices

TWKS

Thoughtworks Holding, Inc. (NASDAQ:TWKS) reported lower than expected Q2 results and issued Q3 guidance below estimates. The company's shares dipped 25.8% to close at $5.21 on Tuesday. Analysts from RBC Capital, Citigroup, and Piper Sandler have cut their price targets on Thoughtworks following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 11:58 am

SONY

Sony Group Corp reported a 33% YoY sales growth in Q1 FY23, beating consensus estimates. The surge was driven by strong PS5 performance, with 3.3 million units sold in the quarter. However, consolidated operating income declined by 31% YoY. Sony raised its FY23 sales outlook and net income attributable outlook.

Portfolio Pulse from Anusuya Lahiri

August 09, 2023 | 11:57 am

AGTI

DDOG

GLBE

QSR

SQSP

UAA

Several analyst forecasts were released on Wednesday, with price target changes for multiple companies. Notably, Needham raised the price target for Global-e Online Ltd. (GLBE) from $44 to $48, Piper Sandler increased Squarespace, Inc.'s (SQSP) price target from $35 to $38, and TD Cowen raised Restaurant Brands International Inc.'s (QSR) price target from $85 to $90. On the other hand, price targets were cut for companies such as Agiliti, Inc. (AGTI), Datadog, Inc. (DDOG), and Under Armour, Inc. (UAA).

Portfolio Pulse from Lisa Levin

August 09, 2023 | 11:53 am

BABA

BIDU

MPNGF

NTES

PDD

TCEHY

Alibaba Group Holding Limited (BABA) and Tencent Holding Ltd (TCEHY) have gained $66 billion in market value since May, driven by optimism over a return to pre-crackdown growth amid government support assurances. However, investors remain cautious due to challenges in the Chinese economy and competition from emerging companies like ByteDance Ltd and PDD Holdings Inc (PDD). Alibaba and Tencent have also faced job cuts and increased competition from rivals like Baidu, Inc (BIDU) and Meituan (OTC:MPNGF).

Portfolio Pulse from Anusuya Lahiri

August 09, 2023 | 11:52 am

AAPL

DIS

Speculations are rife about a potential acquisition of Disney by Apple. The idea has been discussed in the past, but recent signals from Disney's Bob Iger suggest it could be a possibility. Apple, with $62 billion in cash and a $2.8 trillion market cap, could be a potential buyer. Disney's linear TV networks, like ABC and FX, may be sold, making Disney a more attractive acquisition target. However, any such deal would face intense scrutiny from regulatory bodies.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 11:50 am

ACN

AMZN

TSLA

Insiders at Tesla, Amazon, Zoom Video Communications, and Accenture have recently sold shares. Tesla's CFO sold 3,750 shares, Amazon's CEO sold 50,000 shares, Zoom's Director sold 2,067 shares, and Accenture's CEO sold 3,000 shares. The reasons behind these sales are not clear, but they could be preplanned or due to concerns about the companies' prospects or overpricing of the stocks.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 11:47 am

DOGEUSD

The latest episode of Futurama on Hulu features a storyline involving cryptocurrencies, particularly Dogecoin (CRYPTO: DOGE). The episode introduces a location called 'Crypto Country' and 'Doge City', where cryptocurrency mining is the main source of income. Dogecoin's co-creator, Billy Markus, expressed his delight on social media. At the time of writing, DOGE was trading at $0.075, up 1.85% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 09, 2023 | 11:46 am

SKIN

BeautyHealth has refined its FY23 net sales outlook to $460M-$480M, in line with the consensus of $461.57M. The company has also adjusted its EBITDA margin outlook from 18%-20% to 18%-19%.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 11:44 am

DBTX

Trading of Decibel Therapeutics, Inc. shares is set to resume at 8:00 a.m. ET.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 11:43 am

AAPL

DIS

HMC

LYFT

RIVN

TSLA

WEN

The CBOE Volatility Index has increased ahead of inflation data. Lyft, Disney, and three other stocks are to be watched. Moody's has downgraded the credit ratings of banks, causing a decline in investor sentiment. In crypto news, Shiba Inu has jumped 7% as Shibarium launch nears, and Bitcoin, Ethereum, Dogecoin are rising amid spot BTC ETF optimism. In tech news, Sundar Pichai has hailed end-to-end encryption as a game-changer for messages on Android, and Apple's upcoming iOS 17 update is expected to bring significant changes. In the electric vehicle sector, Tesla's China rival is confident of toppling Mercedes-Benz, BMW, Audi in the luxury car market, and Rivian is set to boost R1S production. TikTok is reportedly preparing to challenge YouTube, Spotify, and Apple's podcast dominance. Honda has reported double-digit revenue growth in Q1, and Wendy's is likely to post higher Q2 earnings.

Portfolio Pulse from Akanksha Bakshi

August 09, 2023 | 11:41 am