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Shares of hardware and data center companies are trading lower amid a selloff in chips and AI-related stocks.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 6:24 pm

FDMT

4D Molecular Therapeutics (NASDAQ: FDMT) released interim 24-week data from its Phase 2 PRISM trial for wet AMD, showing promising results in reducing anti-VEGF injections and improving visual outcomes. The company plans to update the Phase 3 trial design in September 2024 and start the first Phase 3 trial in early 2025. Despite the positive data, FDMT shares are down 35.7% to $17.19.

Portfolio Pulse from Vandana Singh

July 17, 2024 | 6:22 pm

SAVA

Cassava Sciences Inc (NASDAQ:SAVA) is experiencing a leadership shake-up with the resignation of its CEO and SVP of Neuroscience. The company is prioritizing transparency and scientific rigor in its Alzheimer's trials. SAVA shares are down 27.20% amid these changes.

Portfolio Pulse from Vandana Singh

July 17, 2024 | 6:17 pm

CHWY

Chewy's (NYSE:CHWY) short interest has risen by 9.25%, with 21.75 million shares sold short, representing 18.66% of its float. This is higher than the peer group average of 12.94%. Increased short interest can indicate bearish sentiment but may also present bullish opportunities.

Portfolio Pulse from Benzinga Insights

July 17, 2024 | 6:15 pm

AVY

Avery Dennison's (NYSE:AVY) short interest has risen by 3.23%, with 1.58 million shares sold short, representing 2.24% of its float. This increase in short interest suggests a more bearish sentiment among investors. However, compared to its peers, Avery Dennison has a lower short interest percentage.

Portfolio Pulse from Benzinga Insights

July 17, 2024 | 6:15 pm

SPY

The Federal Reserve's Beige Book reports that prices have increased at a modest pace overall, with a few districts noting only slight increases.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 6:02 pm

SPY

The Federal Reserve's Beige Book indicates that expectations for the future of the economy are for slower growth over the next six months. This is due to uncertainty around the upcoming election, domestic policy, geopolitical conflict, and inflation.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 6:02 pm

TXRH

Over the past three months, 21 analysts have evaluated Texas Roadhouse (NASDAQ:TXRH), with a mix of bullish and indifferent sentiments. Recent evaluations show an increase in the average 12-month price target to $174.76, up from $161.14. Analysts have predominantly raised their ratings and price targets, reflecting positive sentiment towards the company's financial performance and growth prospects.

Portfolio Pulse from Benzinga Insights

July 17, 2024 | 6:01 pm

CRWD

CrowdStrike Holdings (NASDAQ:CRWD) has been analyzed by 21 analysts over the past three months, revealing a range of perspectives from bullish to bearish. The average 12-month price target is $405.52, with a high of $440.00 and a low of $370.00. Recent analyst actions include both raises and lowers in price targets, reflecting diverse opinions on the company's future performance. CrowdStrike has shown a positive revenue trend with a 32.99% growth rate but faces challenges in profitability and returns on equity and assets.

Portfolio Pulse from Benzinga Insights

July 17, 2024 | 6:00 pm

TOST

Toast (NYSE:TOST) has seen a 16.18% increase in its short percent of float, now at 7.18%. This indicates a bearish sentiment among investors, as it surpasses the peer group average of 5.40%. It would take traders 4.14 days to cover their short positions.

Portfolio Pulse from Benzinga Insights

July 17, 2024 | 6:00 pm