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Equity Actions

RBC Capital Market analyst Rishi Jaluria has downgraded ZoomInfo Technologies Inc (ZI) to Sector Perform from Outperform, lowering the price target to $28 from $30. The downgrade is due to increasing competition, potential risks from GenAI, macro challenges, and long-term data privacy concerns. The analyst also highlighted that ZoomInfo's data is lacking for early-stage startups, which is becoming more evident with the rise of well-funded GenAI startups.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 5:14 pm

CROX

Wedbush analyst Tom Nikic reiterated an Outperform rating on Crocs, Inc. (NASDAQ:CROX) with a price target of $153. The analyst remains positive on the stock's Q2 EPS print on July 27 and has raised Q2 EPS forecast to $3.24 from $2.98. The analyst also sees less risk of investors being blind-sided by unexpected bad news and mentions a near-term trading catalyst from the resumption of share buyback.

Portfolio Pulse from Shivani Kumaresan

July 24, 2023 | 5:02 pm

FAST

Fastenal Inc.'s shares are currently trading at $57.96, after a 0.31% drop. Despite a 0.86% fall over the past month, the stock has increased by 21.48% over the past year. The company's price-to-earnings (P/E) ratio is 29.66, higher than the aggregate P/E ratio of 18.46 of the Trading Companies & Distributors industry, indicating that the stock might be overvalued.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 5:00 pm

AEM

AGI

EDVMF

THM

USAU

WRN

In a recent virtual conference by Benzinga, experts discussed the potential for a new 'Supercycle' for gold miners. They highlighted factors such as Fed interest rates, market valuations, geopolitics, ESG, and technological innovation. Imaru Casanova from VanEck, Taylor McKenna from Kopernik Global Investors, and Luke Norman from US Gold Corp. (NYSE:USAU) presented their insights. Casanova identified Endeavor Mining PLC (OTCPK: EDVMF), Alamos Gold Inc. (NYSE:AGI), and Agnico Eagle Mines Ltd (NYSE:AEM) as top stock recommendations. McKenna highlighted Seabridge Gold Inc. (NYSE:SA), International Tower Hill Mines Ltd. (NYSE:THM), and Western Copper and Gold Corp. (NYSE:WRN) as attractive smaller companies. Norman discussed the potential of US Gold Corp. despite its current market discount.

Portfolio Pulse from Piero Cingari

July 24, 2023 | 4:54 pm

A significant amount of unusual options activity has been observed for Morgan Stanley (NYSE:MS), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $80.0 to $110.0 for Morgan Stanley over the last 3 months. The current price of MS is up 1.38% at $95.31. Analysts from JP Morgan, Odeon Capital, Oppenheimer, and BMO Capital have maintained positive ratings on Morgan Stanley, with price targets ranging from $91 to $110.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 4:46 pm

AMC

APLD

APPH

KOD

TUP

XXII

US stocks traded higher with the S&P 500 gaining around 0.5%. Energy shares climbed by 2% while health care shares fell by 0.2%. Tupperware Brands Corporation (TUP), AMC Entertainment Holdings (AMC), and Applied Digital Corporation (APLD) saw significant gains. AppHarvest (APPH), Kodiak Sciences Inc. (KOD), and 22nd Century Group (XXII) experienced significant losses. The S&P Global composite PMI fell to 52.0 in July from 53.2 the prior month.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 4:43 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) has announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's listing rules. The reverse stock split will be effective as of July 25, 2023. The company's board of directors approved the reverse stock split ratio of 10 to 1, aiming to decrease the total number of shares of common stock outstanding and increase the market price of the common stock. The company's common stock will continue trading under the ticker symbol 'ABVC'.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 4:30 pm

Steve Weiss, a regular CNBC contributor, announced live on the network that he has purchased more shares of The Goldman Sachs Group.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 4:24 pm

BMRC

Bank Of Marin Bancorp (NASDAQ:BMRC) reported Q2 revenues of $26.87 million, beating the consensus of $26.30 million, but missed EPS estimates with $0.28 against the expected $0.43. The company also recorded a $500 thousand provision for credit losses on loans for Q2, up from $350 thousand in Q1. The Board of Directors declared a cash dividend of $0.25 per share and approved a new share repurchase program for up to $25 million.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 4:08 pm

BABA

NFLX

Steve Weiss, a frequent CNBC contributor, announced live on the network that he has purchased more shares of Alibaba Group (BABA) and Netflix (NFLX).

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 4:07 pm