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Lockheed Martin shares surged nearly 4% in overnight trading due to escalating Middle East tensions and a global market sell-off. The U.S. is increasing its military presence in the region, and recent assassinations have heightened regional tensions. Despite global market turmoil, Lockheed Martin's stock has been on an upward trajectory.

Portfolio Pulse from Kaustubh Bagalkote

August 05, 2024 | 7:32 am

BTCUSD

Mike Novogratz, CEO of Galaxy Digital, advocates for Bitcoin as a safe haven amid Nigeria's economic crisis, citing record-high inflation and currency devaluation. He emphasizes Bitcoin's role as a refuge for preserving wealth. Despite Bitcoin's recent price drop, it has shown significant growth year-to-date.

Portfolio Pulse from Aniket Verma

August 05, 2024 | 7:20 am

CHTR

HE

HEI and Hawaiian Electric, along with other parties, have agreed to a $4 billion settlement for the Maui wildfires, with HEI and Hawaiian Electric contributing $1.99 billion. The settlement awaits court approval and does not include any admission of liability.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 6:20 am

NVDA

QQQ

SPY

Global markets experienced significant declines, with the Nasdaq 100 and R2K futures down over 3% and the S&P 500 down about 1.75%. The sell-off was triggered by worsening manufacturing sector contraction, rising jobless claims, and negative tech earnings, including concerns about Nvidia (NVDA) under DOJ scrutiny. Analysts suggest the tech sector's previous strong performance may have led to the current correction.

Portfolio Pulse from Shanthi Rexaline

August 05, 2024 | 6:17 am

KOS

Kosmos Energy (NYSE:KOS) reported strong Q2 2024 earnings, with an adjusted EPS of $0.17 beating the $0.12 estimate and sales of $450.936 million surpassing the $436.458 million estimate. This represents significant year-over-year growth in both earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 6:08 am

K

Mars Inc. is reportedly considering acquiring Kellanova (NYSE:K), the maker of Cheez-It and Pringles. Kellanova's stock has surged by 20% since its separation from WK Kellogg Co. last October. The acquisition could be significant for the packaged food industry, which is seeing consolidation due to price inflation and declining demand. Kellanova recently reported strong Q2 results, surpassing expectations.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 5:35 am

FXI

The China Caixin Services Purchasing Managers Index (PMI) for July was reported at 52.1, higher than the estimated 51.4 and the prior 51.2.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 5:24 am

BBJP

DXJ

EWJ

The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for July was reported at 53.7, slightly below the estimated 53.9 but significantly higher than the prior 49.4.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 5:23 am

AAPL

BAC

BRK

Ross Gerber criticized Warren Buffett for selling Apple shares before the AI revolution, suggesting it was a mistake for long-term investors. Berkshire Hathaway significantly reduced its Apple stake, leading to a loss of dividend income. Elon Musk and Bill Gross also hinted at a bearish market outlook, with Buffett's firm selling other significant holdings like Bank of America shares.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 5:00 am

BTCUSD

MSTR

Economist Peter Schiff criticized former President Donald Trump's strategy of holding Bitcoin to create a strategic U.S. reserve, suggesting that Trump would have kept the plan secret if it were genuine. Schiff's comments followed the U.S. government's transfer of $2 billion worth of Bitcoin, raising concerns about a potential sell-off. Trump had previously advocated for a national Bitcoin stockpile during a Bitcoin conference.

Portfolio Pulse from Aniket Verma

August 05, 2024 | 4:34 am