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The Chinese government has banned its officials from using Apple's iPhones and other foreign-branded devices at work. The FTC could prosecute Amazon over antitrust claims. Toyota launched a new version of its chauffeur-driven Century model. SoftBank backed Arm Holdings has launched its roadshow for its IPO. Warner Music has acquired a majority stake in 10K Projects. Roku disclosed measures to cut down its operating expense growth rate. United Airlines flights are back in the air after a temporary grounding. Moderna's updated COVID-19 vaccine is pending FDA approval. Spotify is exploring a move to put lyrics behind its paywall. Google tentatively settled a class action suit for allegedly violating antitrust norms. General Motors said that the UAW union's demands will pressure its manufacturing momentum. C&S Wholesale Grocers, backed by SoftBank, is reportedly approaching a deal to buy stores from Kroger and Albertsons. Apple inked a fresh deal with Arm Ltd for chip technology.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 1:43 pm

SQ

UBS has downgraded Block (formerly Square, symbol SQ) from Buy to Neutral and reduced its price target from $102 to $65. This has led to a decrease in the trading price of Block shares.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 1:37 pm

ARRY

Morgan Stanley analyst Stephen Byrd has maintained an Underweight rating on Array Technologies (NASDAQ:ARRY) and raised the price target from $16 to $18.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 1:35 pm

AMPS

Morgan Stanley analyst Stephen Byrd has maintained an Overweight rating on Altus Power (NYSE:AMPS) and raised the price target from $10 to $12.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 1:34 pm

TOST

UBS has upgraded Toast Inc. (TOST) from Neutral to Buy, leading to a rise in the company's stock.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 1:32 pm

ZS

Zscaler Inc's shares are trading slightly lower despite reporting a 43% YoY increase in Q4 revenue to $455.01 million, beating the consensus estimate of $430.42 million. The company also reported quarterly earnings of 64 cents per share, surpassing analyst estimates of 49 cents per share. For the fiscal first quarter, Zscaler anticipates revenue of $472 million to $474 million and earnings of 48 to 49 cents per share. Multiple analysts have reiterated or maintained their ratings, with price targets ranging from $175 to $210.

Portfolio Pulse from Adam Eckert

September 06, 2023 | 1:27 pm

AVAV

AeroVironment Inc's (NASDAQ:AVAV) shares are trading higher after reporting better-than-expected Q1 results and issuing strong guidance. The company reported revenues of $152.3 million, up 40% YoY, and earnings of $1 per share, beating estimates. The company also announced the acquisition of Tomahawk Robotics, expected to close in Q2. Following the results, Baird analyst Peter Arment upgraded AeroVironment from Neutral to Outperform and raised the price target from $95 to $128.

Portfolio Pulse from Adam Eckert

September 06, 2023 | 1:24 pm

TRVN

Trevena Inc (NASDAQ:TRVN) released preliminary topline data from two Phase 1 proof-of-concept studies of TRV045, demonstrating CNS penetration and target engagement. The studies showed a statistically significant, dose-dependent reduction in mechanical allodynia. No serious adverse events were reported. Full safety and tolerability data is expected in early 4Q 2023. Concurrently, Trevena received a $15 million tranche under its non-dilutive ex-US royalty-based financing, triggered by the first commercial sale of Olinvyk in China. TRVN shares are up 23.4% at $1.08 during the premarket session.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 1:23 pm

APDN

Applied DNA Sciences, Inc. (NASDAQ:APDN) has appointed Beverly Wolgast as executive director of Quality and cGMP Programs. Wolgast will oversee quality assurance, control, and regulatory compliance across the company's three business segments. She brings over 30 years of experience in the pharmaceutical and biotech industry, including her recent role as Director of CleanCap GMP Manufacturing at TriLink BioTechnologies, a division of Maravai LifeSciences, where she led the manufacture of the BioNTech/Pfizer COVID-19 vaccine.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 1:20 pm

LNG

Capital One has initiated coverage on Cheniere Energy (AMEX:LNG) with an Overweight rating and a price target of $200.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 1:14 pm