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Stock Prices

ARKK

NVDA

Cathie Wood's Ark Invest has divested its entire stake in Zoom Video Communications from its ARK Innovation ETF, following a similar exit from Nvidia earlier this year. Despite Zoom's recent 13% rally, the stock has been underperforming since its pandemic peak. ARKK has also seen a significant decline, down nearly 3% on Thursday and over 15% year-to-date.

Portfolio Pulse from Shanthi Rexaline

August 23, 2024 | 6:46 am

SONY

Sony Group Corp. has announced the launch of its Ethereum Layer-2 blockchain, Soneium, developed in collaboration with Startale Labs. This move is part of Sony's strategy to enter the Web3 space, offering Web3 games, NFT marketplaces, and entertainment services. A test version will be available soon, but the mainnet launch date is undisclosed. This follows Sony's recent launch of S.BLOX Inc., a revamped cryptocurrency exchange.

Portfolio Pulse from Aniket Verma

August 23, 2024 | 6:42 am

PTON

WSM

U.S. stocks closed lower as investors await Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. Williams-Sonoma shares fell over 9% after Q2 results, while Peloton shares surged 35% on better-than-expected earnings. The CNN Money Fear and Greed index remained in the 'Neutral' zone.

Portfolio Pulse from Avi Kapoor

August 23, 2024 | 6:40 am

MSFT

A leaked spreadsheet reveals that Microsoft's AI organization engineers receive the highest compensation compared to other units, including Azure. The AI unit, led by Mustafa Suleyman, focuses on consumer AI products and offers higher salaries and bonuses.

Portfolio Pulse from Ananya Gairola

August 23, 2024 | 6:38 am

SNOW

WSM

Jim Cramer predicts a market slowdown, suggesting that recent gains may pause as reality sets in. He notes that stocks like Snowflake, Williams-Sonoma, and BJ's Wholesale Club have suffered despite decent earnings. Investors are cautious ahead of Fed Chair Powell's speech, with potential interest rate cuts on the horizon.

Portfolio Pulse from Benzinga Neuro

August 23, 2024 | 6:34 am

COE

INTU

ROST

RRGB

WDAY

Intuit, Ross Stores, 51Talk Online Education, Workday, and Red Robin Gourmet Burgers are stocks to watch as they report earnings and provide guidance. Intuit and Ross Stores reported strong earnings, while Red Robin missed expectations.

Portfolio Pulse from Avi Kapoor

August 23, 2024 | 6:20 am

TSLA

In July, BMW surpassed Tesla in battery-electric vehicle (BEV) registrations in Europe for the first time, with 14,869 units compared to Tesla's 14,561. Despite this, the Tesla Model Y remained the bestselling EV. Overall EV demand in Europe declined, with market share dropping to 13.5% from 14.6% the previous year.

Portfolio Pulse from Anan Ashraf

August 23, 2024 | 5:46 am

GBTC

Avalanche (AVAX) surged over 13% after Grayscale Investments launched a new investment fund tracking the cryptocurrency. This move, along with Franklin Templeton's expansion into Avalanche's network, has increased interest in AVAX, making it the market's best performer.

Portfolio Pulse from Aniket Verma

August 23, 2024 | 3:58 am

LMT

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) has appointed Kenneth Possenriede, former CFO of Lockheed Martin Corp (NYSE:LMT), to its Board of Directors. This move is expected to enhance Rocket Lab's strategic direction, leveraging Possenriede's extensive experience in aerospace and defense. Following the announcement, Rocket Lab's stock surged over 4% in after-hours trading.

Portfolio Pulse from Benzinga Neuro

August 23, 2024 | 3:49 am

VEXTF

VRNOF

Arizona's cannabis market is experiencing a decline in sales despite strong asset valuations. Sales have dropped significantly from their peak in March 2023, with both adult-use and medical marijuana sectors affected. Increased competition and falling prices due to market saturation are contributing factors. Vext Science Inc. reported a steep decline in dispensary net sales, while Verano Holdings Corp. acquired three Arizona subsidiaries, indicating continued interest in the market.

Portfolio Pulse from Juan Spínelli

August 23, 2024 | 2:56 am