Streetbeat News

Analyst Ratings

MLCO

B of A Securities analyst Ronald Leung has downgraded Melco Resorts and Enter (NASDAQ:MLCO) from Buy to Neutral and lowered the price target from $16 to $14.

Portfolio Pulse from richadhand@benzinga.com

June 28, 2023 | 8:18 am

LECO

Keybanc analyst Steve Barger has upgraded Lincoln Electric Holdings (NASDAQ:LECO) from Sector Weight to Overweight and announced a price target of $232.

Portfolio Pulse from richadhand@benzinga.com

June 28, 2023 | 8:13 am

AVAV

GIS

MU

TOVX

UNF

General Mills, AeroVironment, UniFirst Corporation, Theriva Biologics, and Micron Technology are the stocks to watch on Wednesday. General Mills is expected to report quarterly earnings of $1.06 per share on revenue of $5.17 billion. AeroVironment reported downbeat earnings for its fourth quarter, while sales topped estimates. UniFirst Corporation is expected to have earned $1.79 per share on revenue of $564.18 million. Theriva Biologics received Orphan Drug Designation from the FDA for VCN-01 for the treatment of pancreatic cancer. Micron Technology is expected to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 8:12 am

SNOW

Piper Sandler analyst Brent Bracelin maintains an Overweight rating on Snowflake (NYSE:SNOW) and raises the price target from $194 to $210.

Portfolio Pulse from richadhand@benzinga.com

June 28, 2023 | 8:10 am

AAPL

Jim Cramer, a prominent market commentator, has advised investors not to be afraid of paying more for high-quality stocks, as they are less likely to fail. He also emphasized the importance of patience in investments, using Apple Inc's stock as an example, which declined from over $33 to nearly $23 eight years ago but has since risen over 8 times. He advised investors to stick with companies that have quality products, customer loyalty, a steady revenue stream, and a strong cash position.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 4:00 am

LLY

Eli Lilly & Co.'s experimental drug, retatrutide, has shown significant weight loss results in a mid-stage study, with most participants losing nearly a quarter of their body weight. The drug's effectiveness seems to stem from its unique approach to manipulating appetite-controlling hormones. Beyond weight loss, retatrutide has shown promising health impacts, such as a 20% reduction in LDL or “bad” cholesterol, and an over 80% decrease in liver fat levels.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 2:21 am

QQQ

SPY

Mohamed El-Erian, Allianz's chief economic adviser, has expressed confidence in the latest set of economic data, stating that there is no reason for the US to fall into recession. He highlighted the rise in The Conference Board Consumer Confidence Index and the upbeat housing market data. The Nasdaq Composite and the S&P 500 ended over 1% higher on Tuesday. The SPDR S&P 500 ETF Trust (NYSE:SPY) closed 1.1% higher while the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) gained 1.72% on Tuesday.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 2:15 am

NVO

Aileen Lee, partner at Cowboy Ventures, likened the current fiscal tightening in Silicon Valley to the effects of the weight loss drug Ozempic, suggesting startups will need to 'do more with less and become healthier'. This comes in response to the capital challenges startups have faced since early 2022. Novo Nordisk (NASDAQ:NVO), the manufacturer of Ozempic, has seen a surge in demand for the drug due to its effectiveness in weight loss.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 1:13 am

GME

GameStop Corp (NYSE:GME) is analyzed as a compelling investment opportunity due to ventures into web3, NFTs, digital video game skins, strategic partnerships, financial stability, e-commerce growth, omnichannel integration, insider ownership, increased brand recognition, and exceptional stock performance. Partnerships with Loopring, Immutable X, and Microsoft are highlighted. Gamestop's stock performance has increased by 2,024% over the last three years, compared to the S&P 500's return of 42% during the same period.

Portfolio Pulse from Kevin Malone

June 27, 2023 | 9:45 pm

RBLX

Roblox Corp (NYSE:RBLX) is set to discuss its artificial intelligence (AI) initiatives with Morgan Stanley on Wednesday. The company previously highlighted its vision for the future of creation revolving around generative AI. Roblox believes that generative AI tools could help accelerate creator productivity and bring ideas to life. The company also recently announced a deeper push to appeal to the 17 and over crowd of gamers on its platform. Roblox shares were up 6.66% to $41.82 on Tuesday.

Portfolio Pulse from Chris Katje

June 27, 2023 | 9:22 pm