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GRIN

Grindrod Shipping announced that its previously declared Selective Capital Reduction has become effective. All issued ordinary shares, except those held by Good Falkirk (MI) Limited, have been canceled. A cash distribution of $14.25 per share will be paid to participating shareholders by August 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:33 am

RLX

RLX Technology reported Q2 adjusted EPADS of $0.02, which met the estimate, but sales of $86.30M missed the $87.91M estimate.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:33 am

AZN

The FDA has approved AstraZeneca's Imfinzi (Durvalumab) in combination with chemotherapy for the treatment of resectable early-stage non-small cell lung cancer (NSCLC) without known EGFR mutations or ALK rearrangements. This approval could potentially expand the market for Imfinzi and improve AstraZeneca's revenue from oncology drugs.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:18 am

TXN

Texas Instruments (TI) has secured a preliminary agreement for up to $1.6 billion in funding from the CHIPS and Science Act for semiconductor manufacturing in Texas and Utah. Additionally, TI expects to receive $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for U.S. manufacturing investments, and $10 million for workforce development, creating over 2,000 new jobs.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:13 am

VGK

The Eurozone's trade balance for June significantly exceeded expectations, coming in at 22.3 billion euros compared to the estimated 13.3 billion euros and the prior 13.9 billion euros.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 9:03 am

GOOG

GOOGL

SPY

XHB

Kamala Harris' campaign has released a preview of her first major economic policy speech, focusing on residential construction and banning food price hikes. The plan includes building three million new housing units, expanding tax incentives for affordable housing, and providing down-payment support for first-time homeowners. Harris also aims to ban food price hikes to prevent corporate exploitation. The SPDR S&P Homebuilders ETF (XHB) and SPDR S&P 500 ETF Trust (SPY) saw gains following the news.

Portfolio Pulse from Shanthi Rexaline

August 16, 2024 | 8:42 am

SGML

Sigma Lithium reported its Q2 2024 financial results, missing both earnings and sales estimates. The company posted a GAAP EPS of C$0.13, falling short of the C$0.20 estimate, and sales of C$62.857 million, missing the C$93.394 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 8:37 am

GLD

QQQ

SPY

Peter Schiff highlighted Bitcoin's sharp decline amidst a stock market rally, contrasting it with gold's gains. Despite Bitcoin's recent increased correlation with stocks, Schiff remains skeptical about its potential as a reserve asset.

Portfolio Pulse from Aniket Verma

August 16, 2024 | 8:33 am

QQQ

SPY

Paul Christopher from Wells Fargo predicts a significant upswing in the stock market, similar to the 1995 boom, due to falling inflation and stable economic growth. He expects the Federal Reserve to cut rates, which could benefit financial and tech stocks. The S&P 500 and Russell 2000 are showing strong performance, with SPY and QQQ ETFs closing higher.

Portfolio Pulse from Benzinga Neuro

August 16, 2024 | 8:09 am

MSGE

Madison Square Garden Entertainment Corp. (NYSE:MSGE) is set to release its Q4 earnings on Aug. 16. Analysts expect a quarterly loss of 52 cents per share and revenue of $169.61 million. Recent analyst ratings include a mix of Neutral, Equal-Weight, and Buy, with price targets ranging from $36 to $43.

Portfolio Pulse from Avi Kapoor

August 16, 2024 | 7:55 am