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Global markets experienced a major downturn due to a weaker-than-expected U.S. jobs report and heightened geopolitical risks. The U.S. economy added fewer jobs than anticipated in July, and the unemployment rate rose, leading to increased market expectations for a significant rate cut by the Federal Reserve in September. Investors are moving to safer assets, causing declines in major equity indices and gains in Treasuries, gold, and the Japanese yen.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 1:30 pm

BIAF

bioAffinity Technologies has entered into warrant exercise agreements for the immediate exercise of 1,041,667 shares, generating $1.3 million in gross proceeds. The company has issued new warrants for 1,302,083 shares at $1.50 per share and reduced the exercise price of existing warrants to $1.25. Additionally, a securities purchase agreement for 360,000 shares and private warrants for 450,000 shares at $1.25 per unit is expected to close on August 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:26 pm

CGNX

Cognex Corporation (NASDAQ:CGNX) reported mixed Q2 results, beating earnings estimates but missing on sales. Despite strong performance in Logistics and Semiconductor markets, overall factory automation revenue was weak. Analysts from Needham and Truist Securities lowered their price targets for Cognex. The stock fell 21.2% to $39.08.

Portfolio Pulse from Avi Kapoor

August 02, 2024 | 1:24 pm

LGMK

LogicMark, Inc. (NASDAQ:LGMK) has announced the pricing of a $4.5 million public offering consisting of 9.67 million units, each priced at $0.4654. Each unit includes one share of common stock (or pre-funded warrant), one Series A warrant, and one Series B warrant. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close on August 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:23 pm

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XOM

ExxonMobil reported strong Q2 FY24 results with revenues of $93.060 billion and adjusted net profit of $9.24 billion. The company plans a $19 billion share buyback in FY24 and declared a $0.95 per share dividend. Despite positive earnings, XOM shares are trading lower.

Portfolio Pulse from Lekha Gupta

August 02, 2024 | 1:22 pm

CNK

Cinemark Holdings Inc (NYSE:CNK) reported a fiscal Q2 2024 revenue of $734.2 million, beating analyst estimates. EPS of $0.32 also surpassed expectations. Despite a decline in admissions and concession revenue, the company highlighted the success of 'Inside Out 2'. CNK shares are trading higher by 7.80% premarket.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 1:21 pm

BBLG

Bone Biologics shares are trading lower after the company announced an exercise of warrants for $2.1 million gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:19 pm

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Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:16 pm

AAL

American Airlines Group (NYSE:AAL) has seen a 26.56% increase in short interest, with 110.41 million shares sold short, representing 19.11% of its float. This is significantly higher than its peers' average short interest of 10.86%. The high short interest could indicate bearish sentiment but also presents a potential for a short squeeze.

Portfolio Pulse from Benzinga Insights

August 02, 2024 | 1:15 pm

GPAK

Gamer Pakistan shares are trading lower after the company announced it received a delisting notice from the Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:14 pm