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Wall Street analyst Ed Yardeni suggests that the recent tech stock selloff may be over, despite disappointing earnings from Alphabet and Microsoft. The Nasdaq 100, tracked by Invesco QQQ Trust, fell 2.7%, while the Roundhill Magnificent Seven ETF declined by 1.9%. The iShares Semiconductor ETF dropped over 7%. Yardeni highlights that some tech stocks, like Nvidia, Meta, and Netflix, still offer attractive valuations.

Portfolio Pulse from Piero Cingari

August 01, 2024 | 7:36 pm

KAI

Kadant shares are trading lower after the company reported Q2 financial results and issued Q3 EPS and revenue guidance with a midpoint below estimates.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:27 pm

BAND

Bandwidth shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:26 pm

META

TASK

The Bear Cave newsletter issued a report on TaskUs, Inc. (NASDAQ:TASK), claiming that many of its services can be automated by AI, leading to a decline in its stock price. The report also highlighted reduced spending by Meta Platforms, Inc. (NASDAQ:META), TaskUs' largest customer, on TaskUs' services. TaskUs is set to report its Q2 results on Aug. 8.

Portfolio Pulse from Erica Kollmann

August 01, 2024 | 7:25 pm

NFLX

Netflix announced the release date for 'Squid Game' Season 2 on Dec. 26, 2024, and secured rights to broadcast two NFL games on Christmas Day. This strategic move aims to boost viewership and engagement during the holiday season.

Portfolio Pulse from Chris Katje

August 01, 2024 | 7:24 pm

CCJ

DNN

UEC

UUU

UUUU

Shares of uranium mining companies are trading lower in possible sympathy with Cameco after the company reported worse-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:23 pm

AMD

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) shares are trading lower on Thursday ahead of its earnings release on August 6. The company announced the SuperCluster for the NVIDIA Omniverse, featuring high-performance NVIDIA-Certified Systems. On Wednesday, SMCI traded higher in sympathy with Advanced Micro Devices, Inc. (NASDAQ:AMD) after AMD reported strong earnings. SMCI is currently trading 5.71% lower at $661.60.

Portfolio Pulse from Dylan Berman

August 01, 2024 | 7:14 pm

BILL

Wolfe Research has downgraded BILL Holdings from Outperform to Peer Perform, indicating a less favorable outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:10 pm

DAN

Analysts' ratings for Dana Inc. (NYSE:DAN) vary from bullish to bearish, with recent adjustments reflecting changing market conditions. The average 12-month price target has declined to $13.5 from $14.25. Dana's financial performance shows strong revenue growth but challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

August 01, 2024 | 7:09 pm

GMAB

Eight analysts have provided ratings for Genmab (NASDAQ: GMAB) over the past quarter, with all ratings being bullish. The average 12-month price target is $50.0, reflecting a slight increase from the previous target. Genmab has shown strong financial performance with significant revenue growth, high net margins, and effective debt management.

Portfolio Pulse from Benzinga Insights

August 01, 2024 | 7:08 pm