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AYX

BPTS

BYND

CHGG

HIMS

INFI

PTRA

Several stocks are experiencing significant pre-market movements. Infinity Pharmaceuticals (INFI) surged 83.5% after announcing plans to reduce headcount by 78%. Biophytis (BPTS) rose 59.4% following positive opinion from Belgian authorities for its SARA-31 Phase 3 study. Chegg (CHGG) gained 23.4% after reporting better-than-expected quarterly sales. Hims & Hers Health (HIMS) climbed 17.2% after posting upbeat Q2 results and raising full-year revenue forecast. Proterra (PTRA) fell 63% after filing for Chapter 11 bankruptcy. Alteryx (AYX) fell 25% after issuing weak Q3 revenue guidance. Beyond Meat (BYND) fell 16% after reporting downbeat Q2 results and issuing weak revenue forecast for FY23.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:20 pm

NVO

Novo Nordisk A/S (NYSE:NVO) released the results from the SELECT cardiovascular outcomes trial, which showed a 20% reduction in major adverse cardiovascular events (MACEs) for people treated with semaglutide 2.4 mg compared to placebo. The trial enrolled 17,604 adults aged 45 years or older with overweight or obesity and established cardiovascular disease with no prior history of diabetes. Novo Nordisk expects to file for regulatory approvals of a label indication expansion for semaglutide 2.4 mg (Wegovy) in the U.S. and the EU in 2023.

Portfolio Pulse from Vandana Singh

August 08, 2023 | 12:20 pm

SEAC

SeaChange International, Inc. (NASDAQ:SEAC) has announced its voluntary decision to deregister its common stock with the U.S. Securities and Exchange Commission (SEC) and delist from Nasdaq. The company expects the last trading day of its common stock on Nasdaq to be around August 28, 2023. The decision follows a strategic alternatives process initiated in December 2022, which explored potential transactions to maximize stockholder value. The company believes that delisting will save significant money, which can be used to execute its standalone plan and provide a benefit to the company's stockholders.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:20 pm

SPY

Federal Reserve's Harker predicts a decline in Core PCE to just below 4% by the end of 2023, below 3% in 2024, and reaching the 2% target in 2025.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:19 pm

SPY

Philadelphia Fed President Patrick Harker has suggested that interest rate hikes may have come to an end, according to a CNBC report. This could potentially impact the broader market and ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:19 pm

ACHR

CAVA

DKNG

DOCN

JBLU

NYCB

VICI

Jim Cramer, host of CNBC's 'Mad Money Lightning Round', has given his views on several stocks. He is bullish on VICI Properties and DraftKings, recommending investors to buy before the football season. He also supports General Electric and New York Community Bancorp. However, he advised against investing in JetBlue Airways and Archer Aviation. He also mentioned that DigitalOcean Holdings got 'crushed' last week and he needs to investigate why. Cramer also praised CAVA Group, predicting its stock could reach $60.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:14 pm

WCN

Waste Connections, Inc. (NYSE:WCN) has announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 12,881,534 common shares, or 5% of its total issued and outstanding common shares. The repurchases will be made through the Toronto Stock Exchange, the New York Stock Exchange, and/or alternative Canadian trading systems over the next 12 months. The company has not purchased any common shares under the current NCIB, which will expire on August 9, 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:12 pm

WIMI

WiMi Hologram Cloud Inc. (NASDAQ:WIMI) has developed a big data real-time computing engine component federated computing system. This system is designed to efficiently utilize data and enhance data performance. It includes modules for data acquisition and cleaning, real-time computing, algorithm database, data visualization, and high availability architecture. The system can provide more accurate and comprehensive data support for decision-makers in various fields, including finance and healthcare.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:11 pm

GBLI

Global Indemnity (NASDAQ:GBLI) reported Q2 earnings of $0.50 per share, beating the analyst consensus estimate of $0.45 by 11.11%. This is a 316.67% increase from the same period last year. However, the company's quarterly sales of $141.89 million missed the analyst consensus estimate of $146.00 million by 2.81%, a 4.04% decrease from last year.

Portfolio Pulse from sunil@benzinga.com

August 08, 2023 | 12:07 pm

PAY

Paymentus Holdings, Inc. (NYSE:PAY) reported strong Q2 results, beating market estimates. The company's shares jumped 10.8% in pre-market trading. Analysts from Goldman Sachs and Raymond James have raised their price targets on Paymentus following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:05 pm