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AAPL

ABG

AMZN

CVX

XOM

U.S. stock futures are trading lower this morning. Key stocks to watch include Exxon Mobil, Apple, Chevron, Amazon, and Asbury Automotive Group. Exxon Mobil and Chevron are set to release their earnings reports, while Apple and Amazon have already reported their results. Asbury Automotive Group is also expected to release its earnings report.

Portfolio Pulse from Avi Kapoor

August 02, 2024 | 6:25 am

AMD

INTC

Intel Corp. (NASDAQ: INTC) is offering a two-year extended warranty for its 13th and 14th Gen CPUs due to stability issues. This move comes after a disappointing financial report and significant cost reduction plans. Intel's stock has seen a significant decline, closing at $29.05 and falling further in after-hours trading.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 6:15 am

EWA

Australia's Producer Price Index (PPI) for Q2 met expectations at 1.0%, slightly higher than the previous quarter's 0.9%.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:06 am

EWA

Australia's Producer Price Index (PPI) for Q2 has increased to 4.8% year-over-year, up from 4.3% in the previous quarter. This indicates rising production costs in Australia.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:06 am

EWA

Australia's home loans for June increased by 0.5%, surpassing the estimated -1.0% and showing improvement from the revised -1.9% in the prior month.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:05 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk envisions the company making a drivetrain every second, significantly faster than the current rate. This announcement follows Tesla's milestone of producing its 10 millionth drive unit. Most of Tesla's drive units are made in Giga Nevada, which has produced 5 million units. The drive unit is crucial for EVs, converting electrical energy to mechanical energy.

Portfolio Pulse from Anan Ashraf

August 02, 2024 | 6:02 am

AMZN

Amazon reported a shift in consumer preferences towards lower-priced items and everyday essentials, leading to a drop in average selling prices (ASPs). Despite slower growth in high-ticket items, Amazon's faster delivery services have boosted sales of everyday essentials. The company reported second-quarter net sales of $148 billion, a 10% increase year-over-year, but fell short of the Street consensus estimate. Amazon shares dropped 6.88% in after-hours trading following the announcement.

Portfolio Pulse from Ananya Gairola

August 02, 2024 | 5:43 am

BAC

BRK

Warren Buffett's Berkshire Hathaway has sold over $3.8 billion worth of Bank of America shares in the past two weeks, reducing its stake to 12.1%. The sales come after a significant rise in Bank of America's stock price.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 5:36 am

CORZ

Jack Dorsey, co-founder of Block Inc. (NYSE:SQ), expressed optimism about the Bitcoin mining chip market, highlighting Block's technological advantages over market leader Bitmain. Block recently made a significant sale of 3nm mining ASICs to Core Scientific Inc. (NASDAQ:CORZ). Block reported a 20% YoY growth in gross profit for Q2 2024, with Bitcoin gross profit at $67 million. Shares of Block rose 5% in after-hours trading.

Portfolio Pulse from Aniket Verma

August 02, 2024 | 5:10 am

AAPL

AMZN

INTC

TSLA

On Thursday, major U.S. indices closed lower, with notable declines in Amazon, Apple, Block, Intel, and Tesla stocks. Amazon missed revenue estimates, Apple faced concerns over China and Services performance, Block missed earnings estimates, Intel significantly missed earnings expectations, and Tesla announced a production milestone but saw a sharp stock decline.

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 4:31 am