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LLY

NVO

Novo Nordisk (NVO) announced that its weight-loss drugs, Wegovy, Ozempic, and Rybelsus, can reduce the risk of heart attack in overweight patients by 20%. This could potentially save 139,400 lives each year in the US. The announcement drove NVO shares up by 16.5%. The company's competitor, Eli Lilly (LLY), also saw its shares climb by 13.9% following the positive results and NVO's announcement. LLY's drug Mounjaro, another GLP-1 drug, is expected to follow Wegovy's path in getting FDA approval for weight loss later this year.

Portfolio Pulse from Natan Ponieman

August 08, 2023 | 7:40 pm

BIOL

Shares of Biolase (BIOL) were halted on a circuit breaker due to a significant increase in the stock price. The stock is now up by 28.6%.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 7:40 pm

VMC

Vulcan Materials Inc.'s (NYSE:VMC) stock price is currently at $226.43, after a 1.00% drop. However, the company's stock has risen by 1.40% over the past month, and by 29.81% over the past year. The company's P/E ratio is lower than the aggregate P/E of the Construction Materials industry, indicating that the stock might be undervalued.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 7:30 pm

SWAV

ShockWave Medical, Inc. (NASDAQ:SWAV) reported mixed Q2 results with an EPS miss and revenue beat. The company raised its full-year 2023 revenue guidance to between $725 million and $730 million. Two analysts changed their price targets on the stock, with Needham raising it from $325 to $330 and Wells Fargo lowering it from $275 to $251. Shares of SWAV were down 9.10% at the time of publication.

Portfolio Pulse from Ryan Gustafson

August 08, 2023 | 7:26 pm

CPT

Truist Securities analyst Michael Lewis reiterated a Buy rating on Camden Property Trust (NYSE:CPT), raising the price target to $134 from $127. The analyst projects 5.2% YoY same-store revenue growth in 2023 and 4.6% SSNOI growth. The 2023 FFO estimate was increased to $6.86 per share, primarily due to higher same-store growth projections. For FY24, the FFO estimate was raised to $7.23 per share. However, CPT shares are trading lower by 1.21% to $108.57.

Portfolio Pulse from Nabaparna Bhattacharya

August 08, 2023 | 7:26 pm

SNOW

Shares of Snowflake Inc (NYSE:SNOW) are trading lower by 5.9% after Datadog issued weak guidance, which may be interpreted as an indicator of potential industry-wide challenges. This could lead to concerns about reduced demand or other difficulties affecting technology companies, including Snowflake. Despite exceeding market projections for Q2, Datadog's Q3 projections are lower than expected, which may erode investor confidence in the sector.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 7:21 pm

CHGG

Chegg Inc's 2Q23 revenue and EPS surpassed analyst's estimates, however, its subscriber counts were below expectations. The company announced a partnership with Scale AI to develop large language models for Chegg's personalized learning assistant. This is a shift from Chegg's prior strategy of leveraging GPT 4.0 for a new offering called CheggMate. The shares of Chegg are trading higher by 4.5%.

Portfolio Pulse from Shivani Kumaresan

August 08, 2023 | 7:19 pm

INTU

A significant amount of unusual options activity has been detected for Intuit (NASDAQ:INTU), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $410.0 to $540.0 for Intuit over the last 3 months. The price of INTU is currently down -1.01% at $500.13. Keybanc maintains an Overweight rating on Intuit with a price target of $525, while Mizuho downgraded its action to Buy with a price target of $550, and Exane BNP Paribas upgraded its action to Neutral with a price target of $532.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 7:15 pm

LI

A large investor has taken a bullish stance on Li Auto (NASDAQ:LI), with 29 uncommon options trades spotted for the company. The sentiment of these big-money traders is split between 51% bullish and 48% bearish. The whales have been targeting a price range from $28.0 to $65.0 for Li Auto over the last 3 months. The price of LI is currently down -7.9% at $42.97.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 7:15 pm

LYFT

Lyft, Inc. is set to release its Q2 earnings after the markets close on Tuesday. The stock was up over 2% ahead of the event. Analysts estimate Lyft will report a loss of 1 cent per share on revenues of $1.018 billion. From a technical perspective, Lyft looks set to trade higher, having regained the 200-day simple moving average (SMA). However, holding a position in a stock over earnings can be risky.

Portfolio Pulse from Melanie Schaffer

August 08, 2023 | 7:11 pm