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EBAY

EBIZ

ONLN

eBay Inc. (NASDAQ:EBAY) reported solid Q2 FY24 results with revenue growth of 1% Y/Y to $2.57 billion, beating the consensus of $2.53 billion. Adjusted EPS of $1.18 also surpassed expectations. The company returned $1.1 billion to shareholders and declared a $0.27 per share dividend. eBay's outlook for Q3 includes revenue of $2.50 billion-$2.56 billion and adjusted EPS of $1.15-$1.20. Shares traded lower by 0.38% premarket.

Portfolio Pulse from Lekha Gupta

August 01, 2024 | 1:25 pm

FUTY

SO

XLU

Southern Company (NYSE:SO) reported a 12.4% Y/Y increase in Q2 2024 operating revenue to $6.463 billion, beating the consensus of $6.099 billion. Adjusted EPS improved to $1.10, surpassing the consensus of $0.92. Despite the positive results, SO shares are trading lower. The company reaffirmed its FY24 adjusted EPS guidance at $3.95-$4.05. Investors can gain exposure via SPDR Select Sector Fund – Utilities (NYSE:XLU) and Fidelity MSCI Utilities Index ETF (NYSE:FUTY).

Portfolio Pulse from Lekha Gupta

August 01, 2024 | 1:25 pm

CIFR

IREN

RIOT

WULF

July saw a stark contrast in the Bitcoin mining sector, with traditional miners like Cipher Mining and Riot Platforms thriving, while AI-exposed miners such as Iris Energy and TeraWulf faced significant setbacks. The broader Bitcoin market experienced volatility, with prices fluctuating and mining profitability declining.

Portfolio Pulse from Surbhi Jain

August 01, 2024 | 1:23 pm

NRSN

NeuroSense Therapeutics announced positive 12-month biomarker data from its Phase 2b clinical trial for PrimeC, showing significant improvements in ALS-related biological markers, safety, and efficacy. The trial demonstrated reduced functional and respiratory deterioration, regulation of iron levels, and improved survival rates.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:22 pm

HTZ

Hertz Global Holdings Inc (NASDAQ:HTZ) reported disappointing Q2 financial results, missing both revenue and earnings estimates. The company reported revenue of $2.4 billion and an adjusted earnings loss of $1.44 per share. Vehicle depreciation significantly impacted results, leading to a negative adjusted corporate EBITDA of $460 million. Hertz shares fell 4.4% following the announcement.

Portfolio Pulse from Adam Eckert

August 01, 2024 | 1:21 pm

BITW

BTCUSD

The cryptocurrency landscape is evolving rapidly, with significant political support emerging from both Republican and Democratic circles in the U.S. This shift is exemplified by proposals such as a national Bitcoin stockpile and potential Treasury acquisitions. Bitwise CIO Matt Hougan highlights the need for investors to recalibrate their expectations, noting both significant downside risks and expanded upside potential.

Portfolio Pulse from Murtuza Merchant

August 01, 2024 | 1:21 pm

OCGN

Ocugen Inc (NASDAQ:OCGN) shares fell by 11% to $1.25 after announcing a public offering of 30,434,783 shares at $1.15 per share, aiming to raise $35 million. The offering includes a 30-day option for the underwriter to purchase an additional 4,565,217 shares. Proceeds will be used for general corporate purposes.

Portfolio Pulse from Henry Khederian

August 01, 2024 | 1:18 pm

META

Meta Platforms Inc (NASDAQ:META) shares are rallying after the company reported strong Q2 financial results, surpassing revenue and EPS estimates. The company also issued higher-than-expected guidance for Q3. Several analysts raised their price targets on META following the earnings report.

Portfolio Pulse from Adam Eckert

August 01, 2024 | 1:18 pm

BIMI

EW

MRK

The article highlights three oversold health care stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are BIMI Holdings Inc (NASDAQ:BIMI), Edwards Lifesciences Corp (NYSE:EW), and Merck & Co Inc (NYSE:MRK).

Portfolio Pulse from Avi Kapoor

August 01, 2024 | 1:16 pm

AAPL

AI

AMD

AMZN

LOT

MADE

META

NVDA

QQQ

WAY

The top 10 trending stocks on WallStreetBets as of August 1, 2024, include NVDA, AAPL, META, AMZN, WAY, MADE, QQQ, AMD, LOT, and AI, according to data from Swaggy Stocks.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:16 pm