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Cryptocurrency analyst Benjamin Cowen discussed the impact of the FOMC meeting on Bitcoin, predicting an increase in Bitcoin's market dominance to 60% potentially by the end of summer or September. He compared the current market cycle to 2019, expecting a brief altcoin rally before a final capitulation. Cowen also highlighted the role of persistent inflation and the Federal Reserve's monetary policy on the crypto market, suggesting altcoins will decline against Bitcoin over time and advising investors to prepare for volatility.

Portfolio Pulse from Khyathi Dalal

May 02, 2024 | 2:59 pm

ROOT

Root shares are trading lower after a recent gain due to better-than-expected Q1 financial results. The pullback follows a surge in the stock price after the company reported its quarterly earnings.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:58 pm

AVNW

Aviat Networks shares are trading lower due to the company providing weak financial guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:57 pm

PRDO

Perdoceo Education's stock is trading higher following the announcement of their Q1 earnings per share (EPS) and sales, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:55 pm

CMPR

Cimpress shares are trading lower following the announcement of worse-than-expected Q3 sales results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:54 pm

HRTG

Heritage Insurance Holdings' shares dropped following a report of worse-than-expected Q1 earnings per share (EPS).

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:53 pm

DAT

SWI

XSW

SolarWinds Corp (NYSE:SWI) reported a 4% year-on-year revenue growth for Q1 2024, surpassing analyst expectations with $193.31 million. Adjusted EPS was $0.29, beating the consensus of $0.22. Subscription revenue increased by 26.5%, while maintenance and license revenues saw declines. The company also reported an increase in adjusted gross and EBITDA margins. SolarWinds updated its fiscal 2024 revenue and adjusted EPS projections, exceeding previous estimates and analyst consensus. SWI shares rose by 2.89% following the announcement. Investors can also gain exposure to SolarWinds through SPDR S&P Software & Services ETF (NYSE:XSW) and ProShares Big Data Refiners ETF (NYSE:DAT).

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 2:53 pm

SWTX

SpringWorks shares are trading lower following the announcement of worse-than-expected Q1 EPS results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:52 pm

XPEL

XPEL shares are trading lower due to worse-than-expected Q1 results, indicating a negative market reaction to the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:50 pm

BHC

Bausch Health Companies shares are trading lower following the announcement of Q1 revenue results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:46 pm