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SPY

Building permits for June came in at 1.446 million, surpassing the estimated 1.4 million. This indicates a stronger-than-expected housing market.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:30 pm

FTXO

IAT

USB

U.S. Bancorp (NYSE:USB) reported its Q2 FY24 earnings, showing a dip in net interest income but growth in fee income. Revenue was $6.867 billion, beating expectations. Net interest income fell 8.9% Y/Y, while non-interest income rose 3.3% Y/Y. Adjusted EPS was $0.98, beating the consensus of $0.94. The provision for credit losses decreased by 30.8% Y/Y. USB shares are up 1.41% premarket.

Portfolio Pulse from Lekha Gupta

July 17, 2024 | 12:29 pm

FDIS

TSLA

XLY

Tesla Inc (NASDAQ:TSLA) has extended the delivery wait times for its Model 3 sedan in China to 3-5 weeks. The Model Y's delivery time remains unchanged. Tesla's Shanghai factory, which produces both models, has an annual production capacity of over 950,000 units. Tesla sold 59,261 vehicles in China in June, a decrease from last year but an increase from May. Tesla's stock has lost over 11% in the last 12 months. Investors can gain exposure to Tesla via ETFs like XLY and FDIS.

Portfolio Pulse from Shivani Kumaresan

July 17, 2024 | 12:25 pm

VFC

VF Corporation shares are trading higher after announcing a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica for $1.5 billion in cash.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:22 pm

AMAT

AMKR

ASML

CERS

CLNE

FIVE

GPCR

HYLN

LPA

SAVA

SAVE

ASML, Spirit Airlines, and other major stocks experienced declines in pre-market trading on Wednesday. ASML reported strong Q2 results but saw a 6.8% drop in share price. Spirit Airlines issued soft Q2 revenue estimates, leading to a 5.7% decline. Other notable declines include Cassava Sciences, Logistic Properties of the Americas, and Five Below.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 12:21 pm

BTCUSD

PLTR

TSLA

Elon Musk highlighted the support of Silicon Valley investors Marc Andreessen and Ben Horowitz for Donald Trump, citing their belief that Trump's policies are more favorable for the tech industry. Andreessen and Horowitz criticized the Biden administration's approach to AI regulation and proposed tax on unrealized capital gains. Musk's endorsement of Trump has raised eyebrows, especially given Trump's past criticism of Musk and the electric vehicle sector.

Portfolio Pulse from Benzinga Neuro

July 17, 2024 | 12:20 pm

CTBI

Community Trust Bancorp (NASDAQ:CTBI) reported Q2 earnings per share (EPS) of $1.09, surpassing the analyst consensus estimate of $1.04 by 4.81%. This marks a 0.93% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:18 pm

LLY

NVO

Eli Lilly and Novo Nordisk shares are trading lower following weight loss data from competitor Roche.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:18 pm

NTCT

NETSCOUT SYSTEMS, INC. (NASDAQ:NTCT) has launched a new suite of Business Edge Observability products aimed at enhancing performance management for networks, applications, and user experience. These products, including the nGenius Edge Sensor and Remote InfiniStreamNG solutions, are designed to provide IT observability for remote locations, helping to mitigate risks and reduce Mean Time to Repair (MTTR).

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:17 pm

NIO

TSLA

Li Auto Inc. (NASDAQ:LI) shares are trading marginally lower due to China's softer-than-expected Q2 GDP growth. Li Auto is investing in AI technology for autonomous driving, following NIO Inc. (NYSE:NIO). The company has formed a specialized team and is expanding its computing power. Tesla, Inc. (NASDAQ:TSLA) has set a precedent with its FSD V12 release, influencing other companies.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2024 | 12:15 pm