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MSTR

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) shares are down amid a decline in Bitcoin prices. Riot's stock is trading below its 50-day moving average and near the lower end of its 52-week range. The company reported worse-than-expected earnings for Q2 2024, leading to price target adjustments from several analysts. Other crypto-linked stocks like MicroStrategy Inc. (NASDAQ:MSTR) are also trading lower.

Portfolio Pulse from Dylan Berman

August 02, 2024 | 6:07 pm

BHC

Bausch Health Companies (NYSE:BHC) reported a second-quarter 2024 GAAP EPS of $0.03, missing the consensus of $0.28. Revenues were $2.403 billion, up 11% year-over-year, beating the consensus of $2.339 billion. Despite positive revenue growth, Piper Sandler downgraded Bausch to Underweight from Neutral, citing solvency concerns with $9.4 billion in debt maturing in 2027/2028 and Xifaxan losing exclusivity by January 2028. BHC stock is down 6.80% at $5.69.

Portfolio Pulse from Vandana Singh

August 02, 2024 | 6:06 pm

SEM

Over the past three months, four analysts have evaluated Select Medical Holdings (NYSE:SEM), with the majority being bullish. The average 12-month price target has increased to $44.5, reflecting a 7.88% rise. Analysts from Benchmark and RBC Capital have raised their price targets, indicating positive sentiment. Despite strong financial metrics like net margin and ROE, the company faces challenges with a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

August 02, 2024 | 6:02 pm

Trane Technologies (NYSE:TT) has significantly outperformed the market over the past 20 years, delivering an average annual return of 13.51%. A $100 investment in TT 20 years ago would be worth $1,287.13 today. The article highlights the power of compounded returns over time.

Portfolio Pulse from Benzinga Insights

August 02, 2024 | 6:01 pm

APH

Amphenol (NYSE:APH) has significantly outperformed the market over the past 5 years, delivering an average annual return of 21.84%. A $100 investment in APH 5 years ago would be worth $271.85 today. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

August 02, 2024 | 6:01 pm

AEO

AMZN

ANF

BBY

BNED

BOOT

BURL

CONN

CVNA

DKS

GPS

KMX

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ULTA

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WSM

Shares of retail companies are trading lower due to overall market weakness and soft guidance from Amazon, which may be negatively impacting the sector.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:59 pm

APA

COP

DVN

OXY

SLB

Shares of oil and gas stocks are trading lower despite Middle East tensions, likely due to weak US economic data impacting demand outlook.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:50 pm

SPY

Federal Reserve's Goolsbee suggests that current data indicates a 'golden path' for the economy, emphasizing the need to balance policy with economic conditions quickly. If inflation and the job market continue to cool, the Fed should consider cutting rates. Recent jobs data shows a cooling labor market.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:49 pm

AAPL

AMZN

FXY

IWM

NVDA

QQQ

SMH

SPY

TLT

XLK

XLP

Wall Street experienced a sharp decline on Friday, driven by a cooler-than-expected July jobs report and concerns over the Federal Reserve's rate cut timing. The Magnificent Seven tech giants lost over $300 billion in market value, with Apple being the only exception due to positive earnings. The Nasdaq 100 entered a correction phase, and the CBOE Volatility Index surged over 30%. Small caps and semiconductors were hit hard, with the iShares Semiconductor ETF (SMH) down over 5%. Nvidia fell 3.4% amid a DOJ investigation. Treasuries and the Japanese yen saw gains, while gold and oil prices fell.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 5:49 pm

BTCUSD

ETHUSD

SOLUSD

XRPUSD

Crypto analyst Miles Deutscher highlights the weakness of the altcoin market against Bitcoin and Ethereum, attributing it to altcoin dispersion, inflows into BTC and ETH spot ETFs, and liquidity moving towards meme coins. He advises focusing on quality assets and taking profits during market rotations.

Portfolio Pulse from Khyathi Dalal

August 02, 2024 | 5:49 pm