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TDS

Telephone And Data Systems, Inc (NYSE:TDS) reported Q2 fiscal 2024 revenues of $1.238 billion, slightly below the analyst consensus of $1.240 billion, and a loss of 13 cents per share, in line with expectations. UScellular revenues declined by 3%, while TDS Telecom segment revenues grew by 4% due to broadband investments. TDS expects UScellular service revenues of $2.95 billion-$3.05 billion and TDS Telecom operating revenues of $1.05 billion-$1.08 billion for FY24. TDS shares have gained 169% in the last 12 months but are trading lower by 1.47% premarket.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 1:51 pm

LEEEF

LEEF Brands, a Canadian cannabis company, reported financial results for Q2 2024, showing a net sales decrease to $7.9 million from $9.3 million YoY. Despite this, the company was cash flow positive for the third consecutive quarter and reduced its net loss to $3.9 million from $20.3 million YoY. Adjusted EBITDA improved to $437,138. LEEF shares closed 6.67% lower at $0.0070 per share.

Portfolio Pulse from Nina Zdinjak

August 02, 2024 | 1:50 pm

SPY

Senator Warren criticized Fed Chair Powell for not cutting interest rates, warning that delaying could harm the economy. She emphasized that job data indicates urgent action is needed.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:44 pm

VWAGY

Audi's upcoming China-specific EV series will not feature its iconic four-ring logo, reflecting a shift towards local suppliers and technologies. The series, internally known as 'Purple,' will be developed in collaboration with SAIC and feature components from CATL and Momenta. This move aims to strengthen Audi's position in the competitive Chinese EV market.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 1:41 pm

FTXN

OILT

OXY

Occidental Petroleum Corporation (NYSE:OXY) shares are trading lower following the acquisition of CrownRock, L.P. for $12 billion. The deal is expected to enhance Occidental's Permian portfolio and increase free cash flow. The company also announced a dividend increase. Ecopetrol (NYSE:EC) will not purchase a stake in CrownRock. Occidental recently sold Delaware Basin assets to Permian Resources Corp (NYSE:PR) for $818 million. Investors can gain exposure to OXY via Texas Capital Texas Oil Index ETF (NYSE:OILT) and First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN).

Portfolio Pulse from Lekha Gupta

August 02, 2024 | 1:37 pm

VREOF

Vireo Growth Inc. has extended its credit facility with Chicago Atlantic, which has also converted all its convertible notes into equity shares. The extension moves the loan due date to January 29, 2027, and Vireo will issue 12.5 million shares to the lenders. This move is expected to save Vireo approximately $2.3 million in interest expenses. Vireo's shares rose 10.7% following the announcement.

Portfolio Pulse from Nina Zdinjak

August 02, 2024 | 1:36 pm

KARS

KGRN

NIO

NIO Inc. (NYSE:NIO) shares are trading lower due to a supplier statement about the construction of two new vehicle assembly plants. Miracle Automation Engineering has secured a contract for NIO's F3-1 final assembly mainline conveyor project. NIO's stock has lost over 72% in the past year. Investors can gain exposure to NIO via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS). NIO delivered 20,498 vehicles in July, marking a slight dip from June.

Portfolio Pulse from Nabaparna Bhattacharya

August 02, 2024 | 1:35 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower after the company posted mixed Q2 results, missing net sales estimates but slightly exceeding AWS revenue expectations. The company issued soft Q3 guidance, leading to several analysts lowering their price targets. The stock is down 9.39% in premarket trading.

Portfolio Pulse from Erica Kollmann

August 02, 2024 | 1:33 pm

YORW

The York Water (NASDAQ:YORW) reported Q2 earnings per share of $0.35, missing the analyst estimate of $0.45 by 22.22%. Sales were $18.75M, slightly below the $19.00M estimate. Both earnings and sales showed a decline compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:31 pm

FXY

GLD

IWM

KRE

SMH

TLT

USO

UUP

XLK

XLU

Global markets experienced a major downturn due to a weaker-than-expected U.S. jobs report and heightened geopolitical risks. The U.S. economy added fewer jobs than anticipated in July, and the unemployment rate rose, leading to increased market expectations for a significant rate cut by the Federal Reserve in September. Investors are moving to safer assets, causing declines in major equity indices and gains in Treasuries, gold, and the Japanese yen.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 1:30 pm