La vendita allo scoperto per Opendoor Technologies dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Opendoor Technologies. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Opendoor Technologies (NASDAQ:OPEN) Azioni, Report sulle vendite allo scoperto

Opendoor Technologies

Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.

Opendoor Technologies Inc

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OPEN HSE GROUP CO LTD by OPEN HSE GROUP CO LTD

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Opendoor Technologies Appoints Selim Freiha As CFO And Shrisha Radhakrishna As Chief Technology & Product Officer

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has fallen 3.52% since its last report. The company recently reported that it has 87.64 million shares sold short, which is 14.79% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.16 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724939117_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 5.07%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Opendoor Technologies's Recent Short Interest

U.S. stocks were lower, with the Dow Jones index falling around 100 points on Thursday.
Shares of Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) rose sharply during Thursday's session following <a href="https://www.benzinga.com/news/earnings/24/08/40495102/zoom-video-reports-better-than-expected-q2-results-strong-forward-guidance-details">better-than-expected reported second-quarter financial results.</a>
Zoom reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.21 by 14.88%. Quarterly revenue of $1.16 billion also beat the consensus estimate and is a 2.09% increase from the same period last year.
Zoom Video shares jumped 12.2% to $67.62 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) shares jumped 27% to $4.27 after reporting better-than-expected second-quarter financial results.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) gained 21% to $10.70 after the company announced a partnership with ePages.</li>
<li>Opera Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRA#NASDAQ">OPRA</a>) rose 16.7% to 14.99 after the company reported better-than-expected second-quarter financial results. Also, the company issued FY24 revenue guidance above estimates.</li>
<li>EHang Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>) gained 14.6% to $14.30 after the company reported better-than-expected second-quarter financial results.</li>
<li>Grifols, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) rose 11.5% to $8.55.</li>
<li>Olaplex Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLPX#NASDAQ">OLPX</a>) rose 11.4% to $2.44.</li>
<li>Calumet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) gained 11.4% to $19.53.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 10.2% to $14.89.</li>
<li>OSI Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) rose 8.6% to $157.00 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.</li>
<li>Lindblad Expeditions Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIND#NASDAQ">LIND</a>) gained 8.6% to $8.93.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) rose 8.5% to $2.18.</li>
<li>Redfin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) rose 7% to $9.66.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) gained 4.7% to $16.14.</li>
</ul>
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Zoom Video Posts Strong Q2 Results, Joins Peloton Interactive, Opera And Other Big Stocks Moving Higher On Thursday

Expectations that the Federal Reserve will soon begin cutting interest rates have driven mortgage rates to their lowest levels in over a year Wednesday, positively impacting both new mortgage applications and <a href="https://www.benzinga.com/money/mortgages">refinancing of existing loans.</a>
The average contract interest rate for 30-year fixed-rate mortgages — with conforming loan balances of $766,550 or less — fell significantly by 27 basis points to 6.55% for the week ending Aug. 2, marking the lowest rate since early May 2023
The decrease of 27 basis points from the rate of 6.82% on July 26 represents the largest weekly drop since July 2022 and reflects sizable reductions in Treasury yields.
The 30-year Treasury yield, a key benchmark for mortgage costs, dropped 34 basis points during the week ending Aug. 2, reaching approximately 4.2%. 
&#8220;Mortgage rates decreased across the board last week&#8230;following dovish communication from the Federal Reserve and a weak jobs report, which added to increased concerns of an economy slowing more rapidly than expected,&#8221; said Joel Kan, the Mortgage Bankers Association&#8217;s vice president and deputy chief economist.
<h3 class="wp-block-heading">Chart: 30-Year Mortgage Rates Drop To Levels Last Seen In May 2023</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1024x576.png" alt="" class="wp-image-481621" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/07085307/image-1-15.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Demand For Mortgages Jumps, Driven By Lower Interest Rates</h3>
Mortgage applications soared by 6.9% during the week ending Aug. 2, the sharpest increase in nearly two months and fully erasing the cumulative declines in applications from the two prior weeks. 
Applications for a loan to refinance a mortgage, which are more sensitive to weekly changes in interest rates, soared by nearly 16%.&nbsp;The MBA Mortgage Refinance index rose to the highest level in two years. 
Although the Federal Reserve kept the federal funds target unchanged at its July meeting, it hinted at a possible rate cut in September. Market speculation around a Fed rate cut sharply increased as a result of a weaker-than-expected July jobs report.
Commenting on the data, MBA chief economist Mike Fratantoni said: &#8220;The weakness in this report including the slower rate of wage growth and the higher unemployment rate certainly support such a cut, but the next inflation report needs to confirm that price growth is also slowing.
"The market is moving ahead of the Fed, bringing down longer-term rates including those for mortgages, which should lead to both more home purchases and a pickup in refinance activity," he said. 
<h3 class="wp-block-heading">Market Reactions</h3>
Shares of real estate companies surged in premarket trading on Wednesday, with the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) rising by 0.8%, following a 2% gain on Tuesday. The VNQ ETF is on course to reach levels not seen since January 2023.
Top premarket gainers were Howard Hughes Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>), up 14.5%, Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>), up 5.4%, Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>), up 4.6% and Hudson Pacific Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>), up 4.4%.
Mortgage-linked stocks as tracked by the iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) are up over 2.5% in the premarket, after rallying 2.7% a day earlier. American Healthcare REIT, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHR#NYSE">AHR</a>) and Community Healthcare Trust Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHCT#NYSE">CHCT</a>) led gains, up 9.4% and 2.9%, respectively. 
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</ul>
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iShares FTSE NAREIT Residential PLUS Capped Index Fund

Mortgage Rates Fall To 15-Month Lows, Boost Homebuyer Demand As Federal Reserve Hints At Rate Cuts

Deutsche Bank analyst Benjamin Black maintains Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Hold and lowers the price target from $2.4 to $1.85.

Price Target

Analyst Ratings

Deutsche Bank Maintains Hold on Opendoor Technologies, Lowers Price Target to $1.85

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has risen 5.94% since its last report. The company recently reported that it has 89.09 million shares sold short, which is 15.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722881720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 5.39%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Opendoor Technologies's Recent Short Interest

JMP Securities analyst Nicholas Jones maintains Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Market Outperform and lowers the price target from $4 to $3.25.

JMP Securities Maintains Market Outperform on Opendoor Technologies, Lowers Price Target to $3.25

Shares of DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40116158/doordash-q2-earnings-revenue-beat-eps-miss-total-orders-up-19-results-reflect-years-of-investment-a">second-quarter revenue results</a>.
DoorDash reported second-quarter revenue of $2.63 billion, beating the consensus estimate of $2.54 billion, according to Benzinga Pro. The company reported a quarterly loss of 38 cents per share, missing analyst estimates for a loss of 9 cents per share.
DoorDash shares jumped 10% to $118.88 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>VSee Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEE#NASDAQ">VSEE</a>) gained 123.4% to $5.43 in pre-market trading after the company announced an agreement with Ava Robotics to develop telepresence solutions for the inpatient intensive care market.</li>
<li>Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) gained 34.5% to $1.95 in pre-market trading after declining 3% on Thursday.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) rose 27.3% to $0.6301 in today's pre-market trading  after the company announced it received a continued listing determination from the Nasdaq.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) jumped 25% to $44.00 in pre-market trading  following better-than-expected second-quarter earnings and strong guidance.</li>
<li>OS Therapies Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSTX#NASDAQ">OSTX</a>) shares gained 22.3% to $3.07 in pre-market trading after dipping 37% on Thursday. OS Therapies reported the pricing of its IPO of 1.60 million shares at $4.00 per share.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares gained 17.3% to $4.47 in pre-market trading after dipping around 18% on Thursday.</li>
<li>Vaccinex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCNX#NASDAQ">VCNX</a>) shares gained 16.8% to $5.68 in pre-market trading. The company recently announced results of its early stage SIGNAL-AD clinical trial of pepinemab antibody in AD.</li>
<li>Integral Ad Science Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) shares rose 12.9% to $11.20 in pre-market trading after the company reported better-than-expected quarterly financial results and issued FY24 revenue guidance above estimates.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) shares rose 9.1% to $1,751.21 in pre-market trading after the company reported better-than-expected quarterly financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Gamer Pakistan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPAK#NASDAQ">GPAK</a>) shares fell 39.2% to $0.1021 in pre-market trading after the company announced it received a delisting notice from the Nasdaq.</li>
<li>Fresh Vine Wine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINE#NASDAQ">VINE</a>) shares dipped 37.5% to $0.2730 in pre-market trading after the company announced that it terminated the merger agreement with Notes Live.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell 21.9% to $22.72 in pre-market trading after the company reported its second-quarter financial results Thursday.</li>
<li>Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 8.5% to $10.11 in pre-market trading.</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.</li>
</ul>
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Pre-Market Outlook

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Why DoorDash Shares Are Trading Higher By 10%; Here Are 20 Stocks Moving Premarket

WIIM

Opendoor Technologies shares are trading lower after the company reported Q2 financial results and issued Q3 revenue guidance below estimates.

U.S. stock futures were lower this morning, with the Dow futures falling around 300 points on Friday.
Shares of Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell in today's pre-market trading after the company reported its second-quarter <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">financial results Thursday</a>.
Intel reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 10 cents by 80% and represents a 84.62% decrease from the same period last year. Quarterly sales came in at $12.83 billion, missing the analyst consensus estimate of $12.94 billion and representing a 0.9% decrease year-over-year.
Intel shares fell 21.5% to $22.80 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 8.5% to $10.11 in pre-market trading.</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 6.3% to $13.20 in pre-market trading.</li>
<li>CenterPoint Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) declined 6.2% to $26.40 in pre-market trading. BMO Capital analyst James Thalacker downgraded CenterPoint Energy from Outperform to Market Perform and lowered the price target from $31 to $28.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares fell 6.2% to $828.70 in pre-market trading.</li>
</ul>
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</ul>

ASML

SMFG

Intel Reports Weak Results, Joins Amazon, Opendoor Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares are tumbling in <a href="https://www.benzinga.com/pressreleases/24/08/g40113828/opendoor-announces-second-quarter-of-2024-financial-results">Thursday&#8217;s after-hours session</a>.
 The San Francisco-based company reported financial results for the second quarter. Here&#8217;s a rundown of the print.
<ul>
<li>Q2 Revenue: $1.511 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $1.468 billion</li>
<li>Q2 EPS: Loss of 4 cents, versus estimates of for loss of 11 cents</li>
</ul>
&#8220;We are proud of our&nbsp;second quarter&nbsp;performance and the progress we&#8217;ve made in building a platform where all customers can begin their home selling journey. Revenue, Contribution Margin, and Adjusted EBITDA exceeded the high end of our&nbsp;guidance, and our acquisitions outperformed expectations, growing nearly&nbsp;80%&nbsp;year-over-year,&#8221; said Carrie Wheeler, CEO of Opendoor.
&#8220;During the back half of the second quarter, we began responding to signals that indicated additional slowing in the housing market. We are making decisions that appropriately balance growth, margin, and risk in what continues to be a challenging environment,&#8221; Wheeler added.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40116158/doordash-q2-earnings-revenue-beat-eps-miss-total-orders-up-19-results-reflect-years-of-investment-a">DoorDash Q2 Earnings: Revenue Beat, EPS Miss, Total Orders Up 19%, Results Reflect &#8216;Years Of Investment And Product-Level Focus&#8217;</a>
Outlook: Opendoor said it expects third-quarter revenue to be in the range of $1.2 billion to $1.3 billion versus estimates of $1.59 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company anticipates a third-quarter adjusted EBITDA loss of 60 million to 70 million.
Shares appear to be responding negatively to the combination of weak guidance paired with cautious commentary about the housing market. 
OPEN Price Action: Opendoor shares were down 14.6% after hours at $1.82 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Earnings

Guidance

Opendoor Technologies Q2 Earnings: Revenue Beat, EPS Beat, Weak Guidance Due To 'Additional Slowing In Housing Market'

<ul>
<li>3Q24 Contribution Profit1&nbsp;guidance&nbsp;of&nbsp;$35 million&nbsp;to&nbsp;$45 million</li>
<li>3Q24 Adjusted EBITDA1&nbsp;guidance&nbsp;of&nbsp;$(70)&nbsp;million to&nbsp;$(60)&nbsp;million</li>
</ul>

Opendoor Expects Q3 Revenue Of $1.2B - $1.3B, Est $1.59B

Opendoor Technologies shares are trading lower. The company reported Q2 financial results.

Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(0.11) by 63.64 percent. This is a 86.67 percent increase over losses of $(0.30) per share from the same period last year. The company reported quarterly sales of $1.511 billion which beat the analyst consensus estimate of $1.468 billion by 2.90 percent. This is a 23.53 percent decrease over sales of $1.976 billion the same period last year.

Earnings Beats

Opendoor Technologies Q2 2024 Adj. EPS $(0.04) Beats $(0.11) Estimate, Sales $1.511B Beat $1.468B Estimate

Markets experienced a sharp downturn, driven by heightened geopolitical tensions and economic uncertainties that negatively impacted investor risk sentiment, just a day after the Federal Open Market Committee (FOMC) meeting signaled a potential interest <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">rate cut in September.</a>
U.S. economic data released Thursday revealed a larger-than-expected rise in weekly jobless claims and a more pronounced contraction in manufacturing activity for July. 
Initial unemployment claims increased to 249,000, up from 235,000 the previous week, marking the highest level in nearly a year. The ISM manufacturing PMI dropped to 46.8% in July, extending its contraction for the fourth consecutive month and reaching its lowest point since December 2023.
In geopolitical developments, Israel announced the elimination of Hamas&#8217; military leader Mohammed Deif in a Gaza strike last month. This event followed the assassination of another top Hamas official in Tehran and the killing of Hezbollah&#8217;s commander in Beirut. Iranian officials are considering retaliatory measures against Israel, which has vowed to respond to any threats with force.
Amid rising risk aversion, Wall Street abruptly reversed prior session gains. The S&amp;P 500 Index declined by about 1% in midday trading in New York, while the Nasdaq 100 fell by 1.5% due to another wave of semiconductor selloffs driven by disappointing corporate earnings reports.
The economically-sensitive Russell 2000 index plummeted over 3%, heading for its worst session since April.
Safe-haven assets gained traction, with both the U.S. dollar and Treasuries seeing increased demand. The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.3%, while long-term Treasuries, as represented by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), surged 0.7%.
Oil prices declined by 1.5% after a 4.4% surge the previous day, as investors focused on demand concerns amid weakening economic indicators. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell by 2.6%, trading at $62,900.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day chg. %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,470.62</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,335.79</td>
<td>-1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,079.71</td>
<td>-1.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,190.02</td>
<td>-3.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.9% lower to $546.13.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 1% to $404.23.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.5% to $464.25.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 3% to $217.10.</li>
<li>Sector-wise, the Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)&nbsp;outperformed, rallying 1.3%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.2%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
Stocks reacting to earnings were: 
<ul>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), down 7%,</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), down over 15%,</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), up 2.7%, </li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), up 0.5%,</li>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), down 2.8%,</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), up 8.3%,</li>
<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), down 4.8%,</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), up 14.3%,</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), down 1.8%</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), up 2.8%,</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) up 3%,</li>
<li>EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), down 2.3%,</li>
<li>Everest Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), down 6.8%,</li>
<li>Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), down 0.4%,</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), down 2.5%,</li>
<li>Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), down 9%,</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), up 6%,</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), down over 20%,</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), up 1.2%,</li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), down over 8%,</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>), down over 6%,</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), down over 5%,</li>
<li>Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) down over 7%</li>
</ul>
Those reporting after the close include:
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Microchip Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>).
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/08/40105503/weekly-jobless-claims-rise-to-2024-high-is-the-number-signal-or-noise-ahead-of-fridays-jobs-report">Weekly Jobless Claims Rise To 2024 High: Is The Number Signal Or Noise Ahead Of Friday&#8217;s Jobs Report?</a></li>
</ul>
Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
Photo: Shutterstock

Large Cap

Broad U.S. Equity ETFs

Commodities

Global

Federal Reserve

Tech

$BTC

AAPL

BBAI

BIIB

BKNG

CHRW

COIN

CVNA

SPDR Dow Jones Industrial Average ETF Trust

DKNG

EBAY

EVGO

LRCX

MBLY

MCHP

MSTR

QCOM

REGN

ROKU

SIRI

TDOC

iShares Trust Barclays 20+ Year Treasury Bond Fund

TWLO

PowerShares DB US Dollar Index Bullish Fund

VRTX

XLRE

US Stocks Tumble On Economic, Geopolitical Concerns; Small Caps, Chipmakers Sink; Meta Rallies: What's Driving Markets Thursday?

After Wednesday&#8217;s tech-led rebound amid the Federal Reserve&#8217;s rate decision, the stock market could be in for further gains. The major index futures point to a higher opening, although suggesting a slowdown in the upward momentum is in the cards. Despite <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">Federal Reserve Chair Jerome Powell&#8217;s non-committal stance, </a>the market has begun discounting a September rate cut. This is evident from the extended pullback in bond yields and the rally in dollar-denominated commodities. The imminent release of the July non-farm payrolls report could introduce some caution.
The market could receive support from positive reactions to Meta Platforms, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) earnings even as it may choose to remain on &#8220;wait-and-watch&#8221; mode ahead of another batch of mega-cap tech earnings from the likes of Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.34%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.33%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.15%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.35%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) moved up 0.31% to $547.16, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.48% to $473.35, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed Wednesday&#8217;s session higher, with the S&amp;P 500 and the Nasdaq Composite rising solidly amid positive reaction to tech earnings. The Dow Jones Industrials Averages saw some moments of anxiety but stayed mostly in the green before closing modestly higher. All three averages experienced some degree of volatility amid the Fed decision, rising sharply following the release of the post-meeting policy statement. They gave back much of these gains after Powell&#8217;s presser and yet closed firmly in the green.
As expected, the central bank used the July meeting to prepare the markets for a September rate cut, said Jeffrey Roach, chief economist at LPL Financial. The rate-setting committee noted a slowdown in the labor market and said Inflation continued to move into better balance.
Weighing in on Powell&#8217;s press conference, &nbsp;Chris Zaccarelli, Chief Investment Officer at Independent Advisor Alliance, said the chairman tried to strike a neutral tone. Powell explained &#8220;why today was too soon to cut rates, but effectively said that his base case was for a 25 bps rate cut even while leaving open the possibility that they may be forced to wait again (e.g. zero cuts) or even that they would move even more quickly (e.g. several cuts),&#8221; he said.
IT stocks rallied strong and hard, while communication services, consumer discretionary, industrial, material and utility stocks also gained ground.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.64%</td>
<td>17,599.40</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.58%</td>
<td>5,522.30</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.24%</td>
<td>40,842.79</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.51%</td>
<td>2,254.48</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Monica Guerra, Head of Policy, Morgan Stanley Wealth Management, said analysis of several key economic indicators suggests the Republican candidate may still have an edge in the November election. &#8220;Recent economic cooling may be a disadvantage for Democrats, with slower annualized first-quarter GDP growth of 1.3%, down from 3.4% in 2023's fourth quarter, corresponding to a 1.4% drop in the president's approval rating this year,&#8221; she said.
Still elevated prices and interest rates, which will likely remain high by historical standards even after the Fed cut rates, may not bode well for the Democratic nominee, she added
Guerra said the performances of different equity sectors also point to a Republican win. She noted that her team experimented with two equity baskets each containing 12 sectors and industry ETFs that could benefit from a Democratic or Republican win. &#8220;So far this year, the Republican basket (which includes sectors such as Energy, Materials, Utilities and Real Estate) has outperformed by 9% the Democratic basket (including solar energy, tech and infrastructure stocks). This suggests growing investor confidence in a GOP victory,&#8221; she said.
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release the weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 235,000 in the week ended July 27, flat with the number for the previous reporting week.</li>
<li>The S&amp;P Global will release the final July manufacturing purchasing managers&#8217; index at 9:45 a.m. EDT. Flash reading released in July showed a reading of 49.5, suggesting contracting activity, down from 51.6 in June.</li>
<li>The Institute for Supply Management is due to release the results of its national manufacturing survey at 10 a.m. EDT. The manufacturing PMI for July is expected at 48.9, slightly up from 48.5 in June.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, is expected to show a 0.2% month-over-month increase following a 0.1% drop in May.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell over 10% in <a href="https://www.benzinga.com/premarket">premarket trading</a> following the chipmaker&#8217;s quarterly results.</li>
<li>The other stocks reacting to earnings are C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) (up over 11.5%), Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) (up over 13.50%), Meta (up over 6.6%), and Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) (down about 17%).</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>), Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) and Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening.</a></li>
<li>Those reporting after the close include Amazon, Apple, Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) and United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures extended gains and the yield on the 10-year Treasury note slipped 5.5 points 4.049%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back below the $65K level.
Asian stocks closed on a mixed note, with the Japanese market retreating sharply on the yen&#8217;s strength post the Bank of Japan&#8217;s rate decision. The Chinese and Hong Kong markets fell modestly after disappointing Chinese manufacturing data. The rest of the major markets in the region rose, towing in line with the sentiment on Wall Street overnight.
The European markets were mostly lower in early trading as traders await the Bank of England&#8217;s rate decision due shortly. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally&#8217;s Reacceleration: Week Ahead In Earnings</a></li>
</ul>
Image Via Shutterstock

Futures

Previews

Wall Street Looks To Ride On Earnings Cheer As Meta Q2 Impresses Investors: Analyst Says Economic Data, Stock Performances Suggest Republican Win In November

The earnings reports of last week were a mixed bag, with some Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>), among companies <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">disappointing to the downside</a>. As the focus shifts to the unfolding week, more tech companies are lined up to disclose their quarterly results, potentially offering cues regarding the health of the sector.
The Week That Was: Most on Wall Street viewed Tesla&#8217;s earnings as lacking quality because a significant portion of them came from one-time regulatory credits. On the other hand, Google-parent Alphabet alienated investors by flagging higher capex that will likely weigh down on margins and in turn the bottom line.
Franco-Italian chipmaker, which is a key supplier to the automotive market, cut its full-year guidance. But not all tech tidings were received with pessimism. International Business Machines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) rose as investors cheered the company&#8217;s strong artificial intelligence bookings. 
Healthy Trend: Data from financial data analytics company FactSet <a href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_072624C.pdf">showed</a> that about 14% of the S&amp;P 500 companies have reported their quarterly results so far. The percentage of S&amp;P 500 names that reported upside earnings surprise is 80%, above the one-year average (78%), five-year average (77%), and 10-year average (74%). But the percentage of upside was sub-part at 5.5%, below the one-year average (+6.5%), five-year average (+8.6%), and 10-year average (+6.8%).
The blended earnings of S&amp;P 500 companies are expected to grow by 9.7%, the fastest pace since the fourth quarter of 2021. Eight of the 11 S&amp;P 500 companies are on track to report year-over-year earnings growth for the June quarter, with communication Services, healthcare, IT, and financials likely reporting double-digit growth.
On the other hand, the materials space is expected to witness the steepest earnings decline.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
The Week Ahead: According to FactSet, this week will feature earnings reports from 138 S&amp;P 500 companies, including seven components of the Dow 30. Some heavily-weighted companies such as Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are all in the mix.
Meta is expected to be the largest contributor to earnings per share growth, given the consensus models nearly 60% increase.
After last week&#8217;s brutal tech sell-off, a bullish analyst is optimistic concerning the the sector, its prospects and the stock trajectory. &#8220;We believe the tech sell-off seen last week will be short-lived as the Street better digests results and commentary from the broader tech sector over the coming weeks during 2Q earnings season,&#8221; Wedbush&#8217;s Daniel Ives said in a note published Sunday.
&#8220;This is the start….not the end of this tech bull run we expect the next few years,&#8221; he said, adding that companies, utilities, governments will spend over $1 trillion combined in AI capex over the coming years fueling this AI Revolution.
The analyst said investors will likely look for clues around the pace of AI revolution from the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">earnings reports of Microsoft,</a> Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta and Apple and others.
Tech stocks extended their weekly declines in the week ended July 26 amid the disappointment from early tech reporters. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an index that tracks the performance of the Nasdaq 100 Index, ended Friday&#8217;s session down 1.03% to $462.97, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> The ETF is trading off its record close of $502.96 reached on July 10. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 1.12% on Friday before closing at $5544.44. The QQQ and SPY climbed 0.48% and 0.25%, respectively, in premarket trading Monday.
Notable among the companies reporting this week are:
Monday
Before market open:
<ul>
<li>McDonald&#8217;s Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>)</li>
<li>ON Semiconductor Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</li>
</ul>
After close:
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>)</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>)</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>)</li>
<li>Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
<li>Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>)</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>)</li>
</ul>
Tuesday
Before market open:
<ul>
<li>American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>)</li>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>)</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)</li>
<li>Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>)</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>)</li>
<li>LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>)</li>
<li>Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>)</li>
<li>Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>)</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</li>
<li>Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>)</li>
<li>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
</ul>
After close:
<ul>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>)</li>
<li>Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>)</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>)</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>)</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>)</li>
<li>Microsoft</li>
<li>Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>)</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>)</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>)</li>
</ul>
Wednesday
Before market open:
<ul>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>)</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>)</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>)</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>)</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)</li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>)</li>
<li>&nbsp;Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>)</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>)</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>)</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>)</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</li>
</ul>
After close:
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>)</li>
</ul>
Thursday
Before market open:
<ul>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>)</li>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>)</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>)</li>
<li>EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>)</li>
<li>&nbsp;Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>)</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>)</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>)</li>
<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</li>
<li>Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>)</li>
</ul>
After close:
<ul>
<li>Amazon</li>
<li>Apple</li>
<li>Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>)</li>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>)</li>
<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)</li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>)</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>)</li>
<li>Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>)</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</li>
<li>DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>)</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>)</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>)</li>
<li>RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>)</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>)</li>
<li>Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>)</li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>)</li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)</li>
</ul>
Friday
Before market open:
<ul>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</li>
<li>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</li>
<li>Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>)</li>
<li>Cinemark Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>)</li>
<li>Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>)</li>
</ul>
After close:
<ul>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future&#8217;</a></li>
</ul>
Image via Shutterstock

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SOFI

Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally's Reacceleration: Week Ahead In Earnings

Mortgage rates are on a steady decline as investors have cemented expectations for upcoming reductions in the federal funds rate, yet mortgage demand continues to <a href="https://www.benzinga.com/topic/real-estate-investing">depict challenges among homebuyers. </a>
The Mortgage Bankers Association has reported Wednesday that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) dropped by 5 basis points to 6.62% for the week ending July 19, 2024. 
This marks the lowest borrowing cost for home purchases since early February 2024.
Despite the decline in mortgage rates, long-term Treasury yields remained stable last week. The 30-year Treasury yield has held steady between 4.20% and 4.25% over the past week.
Market expectations for a 25 basis point rate cut in September hover at 100%, remaining unchanged from the previous week, according to the CME FedWatch Tool. 
<h3 class="wp-block-heading">Bumpy demand for mortgages</h3>
Despite the decline in mortgage rates, mortgage demand has shown some setbacks. While the <a href="https://www.benzinga.com/real-estate/reit/24/07/39816656/fed-rate-cut-expectations-drop-mortgage-rates-to-4-month-lows-surge-in-new-applications-refinanc">previous week&#8217;s drop in mortgage rates </a>spurred a sharp rise in new mortgage and refinancing applications, these trends were more subdued last week.
Mortgage applications fell by 2.2% week-over-week, while the refinance index edged up by 0.3% to 614.9, hitting the highest level since mid-August 2022.
On Tuesday, the National Association of Realtors reported a significant 5.4% decline in existing home sales for June. This drop is likely due to rising buyer apprehensions as median home prices reach new all-time highs. 
Jeffrey Roach, chief economist for LPL Financial, commented on the situation, stating, &#8220;The low supply of homes and high interest rates have depressed affordability to near-term lows. Because of the tight supply of homes available for sale, median prices continue to rise. We should not expect this dynamic to improve until mortgage rates drop and supply increases.&#8221;
<h3 class="wp-block-heading">Market Reactions</h3>
The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) was flat during the premarket trading session on Wednesday, following a 1% rise on Tuesday.
The SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) fell 0.5% at the time of this writing, while the VanEck Mortgage REIT Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MORT#NYSE">MORT</a>) rose 0.5%. 
The worst performers in the premarket among real estate stocks were: 
<ul>
<li>Gladstone Land Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAND#NASDAQ">LAND</a>) down 3.96%.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) down 3.96%.</li>
<li>Service Properties Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVC#NASDAQ">SVC</a>) down 3.47%.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) down 2.71%.</li>
<li>Office Properties Income Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>) down 1.48%. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/07/39920377/us-home-sales-see-sharpest-monthly-decline-in-1-5-years-as-record-high-prices-keep-buyers-on-the-sid">US Home Sales See Sharpest Monthly Decline In 1.5 Years As Record High Prices Keep Buyers On The Sideline</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

COMP

LAND

MORT

Mortgage Rates Hit Lowest Point Since February As Investors Anticipate Fed Rate Cuts

Existing home sales in the United States plunged 5.4% in June 2024 from the previous month, marking the steepest monthly drop since November 2022. This decline is attributed to heightened buyer apprehension, as the median sales price reached a record high for <a href="https://www.benzinga.com/money/how-to-invest-in-real-estate">the second consecutive month.</a>
In June 2024, sales totaled 3.89 million units, a decrease from 4.11 million in May, according to data released Tuesday by the National Association of Realtors (NAR). Year-over-year, sales also fell by 5.4%.
The median existing-home price for all housing types in June was $426,900, an all-time high and an increase of 4.1% from $410,100 a year ago. 
Total housing inventory at the end of June was 1.32 million units, up 3.1% from May and 23.4% from a year ago (1.07 million). Unsold inventory stands at a 4.1-month supply at the current sales pace, up from 3.7 months in May and 3.1 months in June 2023.
NAR chief economist Lawrence Yun commented, "We&#8217;re seeing a slow shift from a seller&#8217;s market to a buyer&#8217;s market."
 "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers.&nbsp;More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis," the economist added.
<h3 class="wp-block-heading">Chart: Home Sales Drop 5.4% In June</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1024x501.png" alt="" class="wp-image-451631" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1536x751.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Regional Performance</h3>
All four U.S. regions saw both sales declines and price gains.
<ul>
<li>In the Midwest, existing-home sales dropped 8% from the previous month to an annual rate of 920,000 in June, a 6.1% decrease from the prior year. The median price in the Midwest was $327,100, up 5.5% from June 2023.</li>
<li>In the South, existing-home sales fell 5.9% from May to an annual rate of 1.76 million in June, down 6.9% from a year earlier. The median price in the South was $373,000, a 1.7% increase from last year.</li>
<li>Existing-home sales in the West declined 2.6% in June to an annual rate of 740,000, matching the figure from a year ago. The median price in the West was $629,800, up 3.5% from June 2023.</li>
<li>In the Northeast, existing-home sales decreased 2.1% from May to an annual rate of 470,000 in June, a 6% decline from June 2023. The median price in the Northeast was $521,500, a significant 9.7% increase from a year earlier.</li>
</ul>
<h3 class="wp-block-heading">Buyer Activity And Mortgage Rates</h3>
Properties typically remained on the market for 22 days in June, down from 24 days in May but up from 18 days in June 2023, the monthly Realtors Confidence Index showed.
First-time buyers accounted for 29% of sales in June, down from 31% in May but up from 27% in June 2023. NAR&#8217;s 2023 Profile of Home Buyers and Sellers – released in November 2023 – reported the annual share of first-time buyers was 32%.
Freddie Mac reported the 30-year fixed-rate mortgage averaged 6.77% as of July 18, down from 6.89% a week earlier and 6.78% a year ago.
All-cash sales made up 28% of transactions in June, unchanged from May and up from 26% a year ago. Individual investors or second home buyers, who constitute a significant portion of cash sales, purchased 16% of homes in June, the same as in May but down from 18% in June 2023.
Distressed sales – foreclosures and short sales – accounted for 2% of sales in June, unchanged from the previous month and the prior year.
<h3 class="wp-block-heading">Market Reactions</h3>
Real estate stocks, as tracked by the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), inched 0.4% higher Tuesday, on track to close the session at the highest level since February 2023.
Leading the sector were Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) and eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>), each recording gains between 3% and 3.5%.
NexPoint Diversified Real Estate Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXDT#NYSE">NXDT</a>), Office Properties Income Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>) and Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) were the laggards, down 3.5%, 2.9% and 2.6%, respectively. 
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39905739/veteran-wall-street-investor-downplays-recession-odds-current-bull-market-has-more-">Veteran Wall Street Investor Downplays Recession Odds: &#8216;Current Bull Market Has More Support From Earnings&#8217;</a></li>
</ul>
Photo via Unsplash.

EXPI

NXDT

US Home Sales See Sharpest Monthly Decline In 1.5 Years As Record High Prices Keep Buyers On The Sideline

Shares of Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) rose sharply in <a href="https://www.benzinga.com/markets/equities/24/07/39785537/tinder-parent-match-group-soars-nearly-9-in-after-hours-trading-as-activist-hedge-fund-starboard">today's pre-market trading</a>.
Starboard Value has taken a keen interest in Match Group. The hedge fund has accumulated a stake of over 6.5% in the online dating company and is advocating for a potential sale if the company's performance does not improve, The Wall Street Journal reported on Monday, citing people familiar with the matter.
Match Group shares jumped 8% to $34.56 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) gained 89.8% to $0.4556 in pre-market trading after declining over 8% on Monday.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) shares rose 46% to $1.27 in pre-market trading after surging around 15% on Monday.</li>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares rose 17.1% to $2.67 in pre-market trading after jumping around 63% on Monday.</li>
<li>36Kr Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRKR#NASDAQ">KRKR</a>) rose 11.1% to $0.33 in pre-market trading. 36Kr Holdings said it has entered into a strategic partnership with Zhi-Tech Group to broaden its business expansion and commercialization initiatives.</li>
<li>ConnectM Technology Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) gained 11% to $2.54 in pre-market trading after dipping 35% on Monday.</li>
<li>AgEagle Aerial Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NASDAQ">UAVS</a>) shares gained 9.1% to $0.4990 in pre-market trading after declining around 5% on Monday.</li>
<li>Siebert Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) shares climbed 8.6% to $1.89 in pre-market trading.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares surged 8.6% to $2.76 in pre-market trading. Opendoor Technologies is expected to report second quarter financial results after the closing bell on Thursday, Aug. 1.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) gained 5.4% to $3.34 in pre-market trading. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Greenpro Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRNQ#NASDAQ">GRNQ</a>) shares fell 20.5% to $0.9384 in pre-market trading. Greenpro Capital shares surged around 35% on Monday after the company announced that its subsidiary, Green-X, secured over $100 million in digital assets.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares declined 17.4% to $1.14 in pre-market trading. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>American Rebel Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares fell 17.4% to $0.5550 in pre-market trading after jumping 29% on Monday.</li>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 15% to $7.80 in pre-market trading after jumping 54% on Monday.</li>
<li>DatChat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DATS#NASDAQ">DATS</a>) fell 12.2% to $1.66 in pre-market trading. Shares of DatChat jumped around 78% on Monday possibly after the attempted assassination of former President Donald Trump over the weekend.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) shares fell 9.7% to $0.3493 in pre-market trading after dipping more than 10% on Monday.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares dipped 10.8% to $0.57 in pre-market trading after dipping 10% on Monday.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares fell 8.8% to $37.03 in pre-market trading. Trump Media &amp; Technology Group shares jumped over 31% on Monday following the attempted assassination of Donald Trump.</li>
<li>Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) fell 7% to $5.43 in pre-market trading after surging 8% on Monday.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares declined 6.5% to $0.40 in pre-market trading after gaining around 10% on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39770427/top-5-consumer-stocks-that-may-explode-in-q3">Top 5 Consumer Stocks That May Explode In Q3</a>

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