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US home sales experienced a significant decline of 5.4% in June 2024, the sharpest monthly drop in 1.5 years, due to record high prices. The median home price reached an all-time high of $426,900. Real estate stocks showed mixed reactions, with some gaining and others declining.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 2:46 pm

KMB

Kimberly-Clark Corporation (NYSE:KMB) shares fell after the company reported mixed Q2 earnings. While adjusted EPS of $1.96 beat expectations, revenues of $5.029 billion missed estimates. Sales declined 2% year-over-year due to currency impacts and divestitures. Despite this, the company improved its gross margin and raised its EPS growth outlook for FY24.

Portfolio Pulse from Nabaparna Bhattacharya

July 23, 2024 | 2:46 pm

MAIA

REGN

MAIA Biotechnology announced promising long-term benefits from its Phase 2 THIO-101 trial for advanced non-small-cell lung cancer patients. The trial, which combines MAIA's THIO with Regeneron's cemiplimab, shows high efficacy and low toxicity. Despite positive results, MAIA's stock is down 14.25%.

Portfolio Pulse from Vandana Singh

July 23, 2024 | 2:38 pm

IRDM

Iridium Communications Inc (NASDAQ:IRDM) shares surged after reporting strong Q2 earnings of 27 cents per share, beating expectations. Despite missing sales estimates, the company saw a 13% year-over-year growth in billable subscribers, driven by commercial IoT. Iridium plans to continue aggressive shareholder-friendly activities in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

July 23, 2024 | 2:35 pm

FLYE

Fly-E Group shares resumed trading but were halted again, with the stock now down 37.46%.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 2:34 pm

CCSO

GRID

JCI

Johnson Controls International (NYSE:JCI) has agreed to sell its Residential and Light Commercial HVAC business to Bosch Group for $8.1 billion. The deal is expected to enhance profit margins and provide net cash proceeds of around $5.0 billion after taxes and costs. The company plans to use the proceeds to reduce debt and return funds to shareholders. The transaction is expected to close in about 12 months, pending regulatory approvals.

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 2:32 pm

ORCL

Recent options trading trends indicate a bearish stance on Oracle (NYSE:ORCL) by big-money investors. Benzinga's options scanner identified 8 significant trades, with a mix of bullish and bearish sentiments. The predicted price range for Oracle is between $130.0 and $170.0. Analysts have mixed ratings on Oracle, with target prices ranging from $125 to $175.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:32 pm

Investors with significant capital have taken a bullish stance on JD.com (NASDAQ:JD), as observed through 11 uncommon options trades. The sentiment is 72% bullish and 27% bearish, with a price target range of $22.5 to $37.5. The stock is currently trading at $26.11, down by 2.74%.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:32 pm

NOW

Deep-pocketed investors have adopted a bearish approach towards ServiceNow (NYSE:NOW), as revealed by Benzinga's options scanner. The scanner highlighted 17 extraordinary options activities, with 41% of the sentiment being bearish. The price of NOW is currently up 2.19% at $773.05, but RSI indicators suggest it may be approaching overbought territory. Analysts have mixed opinions, with price targets ranging from $640 to $920.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:32 pm

VRTX

Vertex Pharmaceuticals (NASDAQ:VRTX) has significantly outperformed the market over the past 5 years, delivering an average annual return of 24.11%. A $100 investment in VRTX 5 years ago would now be worth $293.44, highlighting the power of compounded returns.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 2:30 pm