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EchoStar reported its Q2 2024 financial results, with a GAAP EPS of $(0.76), missing the estimate of $(0.17). Sales were $3.953 billion, also missing the estimate of $3.983 billion.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:08 am

IMOS

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) reported a 12.4% year-over-year revenue growth for July 2024, driven by strong DDIC demand and improved inventory levels. The revenue for July 2024 was NT$2,063.4 million (US$63.1 million), marking a 7.6% increase from June 2024.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:06 am

MNMD

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) announced a proposed public offering to fund the research and development of its product candidates. The terms of the offering are currently undisclosed.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:04 am

AAPL

AMZN

GOOGL

IWM

MAGS

META

MSFT

NVDA

QQQ

TSLA

Morgan Stanley analysts, led by Erik Woodring, have analyzed the recent sell-off's impact on mega-cap stocks, particularly the 'Magnificent Seven' (Nvidia, Microsoft, Meta, Apple, Alphabet, Amazon, and Tesla). Despite a 9% average decline month-to-date, these stocks are seen as attractive due to their future growth prospects. The analysis suggests that while there is downside risk in a recession scenario, the Magnificent Seven may outperform small-caps if the economy avoids a hard landing. ETFs like Invesco QQQ Trust, Roundhill Magnificent Seven ETF, and iShares Russell 2000 ETF also saw gains.

Portfolio Pulse from Shanthi Rexaline

August 09, 2024 | 10:03 am

FREY

FREYR Battery (NYSE:FREY) reported a Q2 2024 GAAP EPS of $(0.19), missing the analyst consensus estimate of $(0.18) by 5.56%.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:01 am

AMZN

PDD

Colin Huang, founder of PDD Holdings (NASDAQ:PDD), has become China's richest person, surpassing Zhong Shanshan. This is attributed to the successful expansion of Pinduoduo's operations under the Temu brand, which rivals Amazon (NASDAQ:AMZN). Amazon is ramping up its recruitment of sellers in China to compete with Temu.

Portfolio Pulse from Ananya Gairola

August 09, 2024 | 9:49 am

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) reported a 44.7% year-over-year revenue increase for July 2024, leading to a 3.54% rise in pre-market trading. Despite production issues with Nvidia's AI chips, analysts predict strong third-quarter revenue growth for TSMC.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 9:40 am

HLN

As of August 9, 2024, two consumer staples stocks, Haleon PLC (HLN) and Kellanova (K), are showing signs of being overbought based on their RSI values. Haleon posted weak H1 sales results but saw a 12% gain over the past month, while Kellanova is reportedly a potential acquisition target for Mars Inc., with a 32% gain over the past month.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 9:40 am

BTCUSD

Vice President Kamala Harris announced Minnesota Governor Tim Walz as her running mate, contrasting with Donald Trump's pick, J.D. Vance. Vance's wealth is significantly higher, with investments in various financial assets, while Walz's wealth is modest, primarily in pensions and a college savings plan. Harris has gained an edge in polls since replacing Biden as the Democratic nominee.

Portfolio Pulse from Shanthi Rexaline

August 09, 2024 | 9:21 am

WENA

Anew Medical has announced its intention to pursue a neurological approach to treating weight loss and eating disorders through the use of melanocortin receptor binding peptides.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 9:13 am