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BZUN

DG

ENLC

ESTC

KSS

Several top Wall Street analysts have downgraded their ratings for major companies, including Elastic N.V., Dollar General, Kohl's, EnLink Midstream, and Baozun. These downgrades reflect changes in price targets and market outlooks.

Portfolio Pulse from Avi Kapoor

August 30, 2024 | 12:53 pm

DIA

UUP

The Federal Reserve's preferred inflation measure, the PCE Price Index, remained steady in July but fell slightly short of expectations. Personal spending and income showed strong growth, suggesting robust consumer health. This data impacts expectations for future Fed rate cuts, with market probabilities for a 50-basis-point cut in September slightly decreasing. The U.S. dollar index rose, and futures on major U.S. equity indices increased.

Portfolio Pulse from Piero Cingari

August 30, 2024 | 12:48 pm

NCNA

NuCana plc (NASDAQ:NCNA) announced the discontinuation of its NuTide:323 study after disappointing data, leading to a significant stock drop. The study aimed to compare NUC-3373/NUFIRI-bev to FOLFIRI-bev for colorectal cancer. Despite the setback, other studies with NUC-3373 and NUC-7738 continue. William Blair downgraded the stock to Market Perform.

Portfolio Pulse from Vandana Singh

August 30, 2024 | 12:47 pm

NVDA

Nvidia's AI strategy faces challenges with delays in Blackwell GPU production, but strong demand and revenue growth potential remain. Analysts highlight Nvidia's pivotal role in the semiconductor sector and the early stage of AI investment cycles.

Portfolio Pulse from Surbhi Jain

August 30, 2024 | 12:47 pm

BABA

Alibaba shares rose as the Chinese government announced the completion of the company's rectification process after an antitrust fine.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:44 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) has been cleared of a three-year antitrust investigation by Chinese regulators, leading to a premarket stock gain. The company had previously been fined $2.8 billion in 2021 for monopolistic practices. Despite recent challenges, including U.S. semiconductor sanctions and a weak economy, analysts remain optimistic about Alibaba's stock, with a 12-month price target of $106.45.

Portfolio Pulse from Anusuya Lahiri

August 30, 2024 | 12:41 pm

INTC

Intel shares rise as the company considers splitting its product design and manufacturing businesses.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:41 pm

BAC

CARG

CHRW

META

The article discusses recent insider sales of shares by executives at Meta Platforms, Bank of America, C.H. Robinson Worldwide, and CarGurus. These sales could indicate various motivations, such as preplanned sales or concerns about company prospects.

Portfolio Pulse from Avi Kapoor

August 30, 2024 | 12:33 pm

SPY

US Personal Spending for July increased by 0.5%, matching the estimated growth rate. This indicates stable consumer spending, which is a positive sign for the economy.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:30 pm

SPY

The USA Core PCE Price Index for July remained unchanged at 0.2%, matching both the estimate and the prior month's figure. This indicates stable inflationary pressures in the economy.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:30 pm