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Equity Actions

BABA

FXI

KWEB

Alibaba Group Holding Limited (NASDAQ:BABA) stock is trading higher following China's 31-point plan to provide more robust support for private firms. The plan addresses issues like market entry, fair competition, financing support, payment defaults, intellectual property rights, and legal protection. Alibaba is also focusing on its generative AI endeavors and organizational restructuring to unlock higher shareholder value. Chinese ETFs IShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) are also trading higher.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 11:48 am

CNVS

DUO

LOV

MOBQ

The article lists four oversold stocks in the communication services sector that may present buying opportunities. These include Cineverse Corp. (NASDAQ:CNVS), Fangdd Network Group Ltd. (NASDAQ:DUO), Spark Networks SE (NASDAQ:LOV), and Mobiquity Technologies, Inc. (NASDAQ:MOBQ). All four stocks have an RSI value below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 11:46 am

NFLX

QQQ

SPY

TSLA

TSM

Stock futures suggest a positive start to the week's final trading session, reflecting optimism for positive earnings reports from AI-levered big techs. However, caution is expected due to the upcoming Fed meeting and its commentary on the rate outlook. The tech slump on Thursday, driven by negative reactions to earnings from Tesla, Taiwan Semiconductor Manufacturing Company, and Netflix, dragged the Nasdaq Composite Index lower. The Dow Industrials continued to push higher, closing at nearly an 18-month high. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Tesla rebounded from Thursday's slide, while Xirius SM Holdings fell after its rally on Thursday.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 11:19 am

BJDX

Bluejay Diagnostics' board has approved a reverse stock split of its shares at a ratio of 1-for-20.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 11:08 am

ROP

Roper Technologies has raised its Q3 2023 adjusted EPS forecast to $4.16 - $4.20, from an estimate of $4.16. The company also increased its full-year 2023 adjusted EPS guidance to $16.36 - $16.50, up from the previous range of $16.10 - $16.30.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:59 am

FOR

BTIG analyst Carl Reichardt has upgraded Forestar Group (NYSE:FOR) from Neutral to Buy and set a price target of $32.

Portfolio Pulse from richadhand@benzinga.com

July 21, 2023 | 10:41 am

HITI

High Tide has filed a prospectus for a mixed shelf of up to C$100 million.

Portfolio Pulse from Charles Gross

July 21, 2023 | 10:17 am

LTRY

Lottery.com has entered into a funding agreement with United Capital Investments London, Ltd. The terms of the agreement have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:08 am

CHWY

Steven Cohen has reported a 5.8% passive stake in Chewy, according to a 13G filing on Thursday.

Portfolio Pulse from Charles Gross

July 21, 2023 | 9:14 am

JNJ

KVUE

Johnson & Johnson (JNJ) shareholders will soon be able to exchange their shares for those of Kenvue Inc. (KVUE), a consumer health company that spun off from J&J two months ago. J&J, which owns nearly 90% of Kenvue shares, plans to reduce its stake through an exchange offer. The split-off process will allow J&J shareholders to exchange all or a portion of their shares for Kenvue’s common stock.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 5:54 am