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The article discusses the impact of a weak Treasury auction and jobless claims on the stock market. It highlights the importance of monitoring the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ), as well as the Magnificent Seven stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA). The Bank of Japan's hawkish stance and the weak Treasury auction have led to market volatility. Investors are advised to consider protection bands and focus on high-quality bonds.

Portfolio Pulse from The Arora Report

August 08, 2024 | 4:25 pm

SNY

Sanofi SA (NASDAQ:SNY) reported positive results from the GMMG-HD7 phase 3 study of Sarclisa in combination with other drugs for treating multiple myeloma. The study showed significant improvement in progression-free survival. The FDA has accepted a supplemental Biologics License Application for Sarclisa, with a decision expected by September 27, 2024.

Portfolio Pulse from Vandana Singh

August 08, 2024 | 4:23 pm

FCG

FTXN

NETZ

OILT

OXY

RSPG

Occidental Petroleum (NYSE: OXY) exceeded Q2 earnings expectations but received a neutral outlook from analysts due to concerns over its balance sheet, slowing chemicals business, and asset sales strategy. Despite the earnings beat, analysts expect a neutral impact on the stock's near-term performance. ETFs tracking the stock also saw gains.

Portfolio Pulse from Michael Juliano

August 08, 2024 | 4:23 pm

KRMD

KORU Medical Systems shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 revenue guidance above estimates. Piper Sandler maintained an Overweight rating on the stock and raised its price target from $2.5 to $3.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:22 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares rose by 9.97% to $15.16 following the release of its second-quarter financial results. The company reported $1.16 billion in revenue, slightly above the consensus estimate of $1.13 billion, but posted a larger-than-expected loss per share of $1.46. Rivian produced 9,612 vehicles and delivered 13,790 in the quarter, and ended with $7.9 billion in cash and cash equivalents. Analysts revised their ratings post-earnings.

Portfolio Pulse from Henry Khederian

August 08, 2024 | 4:21 pm

MATV

Mativ shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:20 pm

RDW

Redwire shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:19 pm

CRNC

Cerence shares are trading higher after the company reported better-than-expected Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:12 pm

OGI

Organigram Holdings Inc. (NASDAQ:OGI) announced promising preliminary results from a clinical study on their new nanoemulsion technology, branded FAST. The study showed faster onset of effects and improved bioavailability for cannabis edibles. Organigram plans to commercialize FAST in fall 2024, starting with gummies.

Portfolio Pulse from Rolando García

August 08, 2024 | 4:10 pm

BMBL

Bumble Inc (NASDAQ:BMBL) shares plummeted by 32.01% following mixed Q2 results and a significant downgrade in its 2024 outlook. Analysts from JPMorgan, Piper Sandler, and RBC Capital Markets have downgraded their ratings and slashed price targets, citing a strategic reset and misexecution in user growth and monetization efforts.

Portfolio Pulse from Adam Eckert

August 08, 2024 | 4:08 pm