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AMZN

SPY

Global markets crashed on Black Monday 2.0, prompting reflection on Jeff Bezos' comments from the 2000 dotcom bubble. Despite a 4% drop in Amazon shares, the company has shown significant growth over the years. The SPDR S&P 500 ETF Trust (SPY) also fell by 2.91%.

Portfolio Pulse from Shanthi Rexaline

August 06, 2024 | 7:03 am

BTCUSD

El Salvador continues its plan to buy one Bitcoin per day despite market sell-offs, adding to its reserves. The country now holds 5,833.76 Bitcoins worth over $324 million. This move contrasts with Saxony, Germany, which liquidated its Bitcoin holdings. Bitcoin is currently trading at $55,623.37, rebounding 2.94% after a weekend crash.

Portfolio Pulse from Aniket Verma

August 06, 2024 | 6:59 am

ACM

CAT

UBER

WYNN

ZI

Several key stocks are expected to be in focus today as U.S. stock futures trade higher. Uber Technologies (UBER) is anticipated to report strong quarterly earnings, AECOM (ACM) posted better-than-expected Q3 results, Wynn Resorts (WYNN) is expected to release its earnings after market close, ZoomInfo Technologies (ZI) reported disappointing Q2 results and announced a CFO transition, and Caterpillar (CAT) is expected to report its earnings before the opening bell.

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 6:49 am

ABVX

The Phase 3 ABTECT Trial evaluating obefazimod in moderately to severely active ulcerative colitis (UC) has surpassed the 600-patient enrollment milestone and is on track to reach full enrollment by early Q1 2025. Baseline participant characteristics and trial trends are consistent with observations from the Phase 2b trial.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:46 am

LCID

Lucid Group (NASDAQ:LCID) announced a $1.5 billion investment from an affiliate of Saudi Arabia’s Public Investment Fund (PIF). The investment includes $750 million in convertible preferred stock and a $750 million unsecured delayed draw term loan facility. This capital will support the production of Lucid's new Gravity SUV, expected to start in late 2024. Despite the investment, Lucid shares fell 3.9% due to wider-than-expected Q2 losses but rose 5.67% in after-market trading.

Portfolio Pulse from Anan Ashraf

August 06, 2024 | 6:42 am

CRWD

DAL

CrowdStrike Inc. (NASDAQ:CRWD) is facing a class action lawsuit due to a global computer outage that affected air travel, banks, hospitals, and emergency lines. The plaintiffs allege negligence in software testing and deployment, seeking compensatory and punitive damages. Delta Air Lines (NYSE:DAL) also plans to take legal action against CrowdStrike.

Portfolio Pulse from Ananya Gairola

August 06, 2024 | 6:20 am

YUM

Yum! Brands, Inc. (NYSE:YUM) is expected to report lower Q2 earnings on Aug. 6, 2024, with EPS projected at $1.33, down from $1.41 last year. Revenue is expected to rise slightly to $1.8 billion. Recent analyst ratings include downgrades and reduced price targets from Stifel, Morgan Stanley, Deutsche Bank, and Evercore ISI Group. JP Morgan increased its price target. Yum! Brands declared a quarterly dividend of 67 cents per share and authorized up to $2.0 billion in share repurchases.

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 6:12 am

ADTN

ADTRAN has provided its revenue and operating margin guidance for Q3 2024. The company expects revenue between $215 million and $235 million, compared to the consensus estimate of $225.875 million. The non-GAAP operating margin is projected to be between -1% and +3%.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:05 am

EWG

Germany's factory orders for June increased by 3.9% month-over-month, significantly surpassing the estimated 0.4% and recovering from the previous month's decline of 1.6%.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:01 am

LMT

PLTR

Palantir Technologies Inc (NYSE:PLTR) CEO Alex Karp warned of potential severe conflicts in the Middle East and reaffirmed the company's support for U.S. interests and allies, including Israel. This announcement led to a 12.16% surge in Palantir's stock during after-hours trading. The warning comes amid escalating tensions in the region, with increased U.S. military presence and potential threats from Iran. Palantir's AI technology continues to play a crucial role in supporting U.S. government goals in the Middle East.

Portfolio Pulse from Kaustubh Bagalkote

August 06, 2024 | 5:38 am