Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Renewed fears of a global economic slowdown fed by weak economic data out of China and Europe drove U.S. stocks down on Tuesday. Over the day, oil also fell substantially, gas gained about 2 percent, and metals slipped.
The S&P 500 Index delivered a 0.87 percent decline, with Chesapeake Energy Corporation (NYSE: CHK) and Freeport-McMoRan Inc (NYSE: FCX) having posted the largest decays.
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The Dow Jones Industrial Average fell 0.78 percent. Among the biggest decliners were United Technologies Corporation (NYSE: UTX), JPMorgan Chase & Co. (NYSE: JPM) and Chevron Corporation (NYSE: CVX).
The Nasdaq 100 Index slipped 1.13 percent, partly driven by losses at SBA Communications Corporation (NASDAQ: SBAC), Seagate Technology PLC (NASDAQ: STX) and Tesla Motors Inc (NASDAQ: TSLA).
Earnings & After-Hours Movers
A few fast casual restaurant chains reported their results on Tuesday afternoon:
- Potbelly Corp (NASDAQ: PBPB) posted EPS of $0.04, in line with the Street’s consensus. Revenue of $95.96 million missed estimates by $230,000, but shares were trading up 0.77 percent in Tuesday’s after-hours session.
- Noodles & Co (NASDAQ: NDLS) reported a first quarter profit in line with expectations but missed estimates on the revenue side. The company delivered a net loss of $(0.06) per share on sales of $113.99 million, which missed estimates by $720,000, even though they were up 7.8 percent year-over-year.
Other notable results on Tuesday afternoon:
- Zillow Group, Inc. (NASDAQ: ZG)(NASDAQ: Z), which reported a net loss of $(0.13) per share, $0.04 wider than expected, on revenue of $186 million, $9.3 million above consensus. Second quarter and full year guidance also came in ahead of expectations. These results drove the stock up more than 13 percent after the market closed.
- Illumina, Inc. (NASDAQ: ILMN) posted EPS of $0.71, missing estimates by $0.03, on revenue of $572 million, also below consensus. Guidance for the second quarter disappointed investors; shares were down about 3.5 percent after-hours.
- CBS Corporation (NYSE: CBS) delivered EPS of $1.02 on revenue of $3.849 billion, beating estimates for $0.94 and $3.819 billion, respectively. The 10 percent surge in revenue was partly driven by strong ad growth and surging affiliate and subscription fees. Shares gained more than 2 percent since the bell rang.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.