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WMT

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Grocery Outlet Holding Corp (NASDAQ:GO) with a price target of $40. The company's business is expected to remain solid due to strong traffic and consumer spending on basics. Grocery Outlet is leveraging technology and partnerships to gain new customers and increase productivity. The company plans to open 25-28 new stores in 2023 and focus on square footage growth and digital marketing beyond 2023.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 6:10 pm

COTY

IPAR

D.A. Davidson analyst Linda Bolton Weiser reiterated a Buy rating on Inter Parfums Inc (IPAR) with an unchanged price target of $187. IPAR's fragrance segment is performing well globally, with Europe's recovery and Asia's growing luxury market contributing to the success. The company is optimistic about its 2024 sales guidance for Lacoste and Roberto Cavalli, transferred from Coty Inc (COTY), and the DKNY line, transferred from Estee Lauder Companies Inc (EL). The analyst raised 3Q23E sales and EPS to above consensus.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 6:06 pm

SCLX

Scilex Pharmaceuticals has completed its SP-103 Phase 2 study, which evaluates the safety and efficacy of its product in subjects with acute lower back pain (LBP). This has led to an increase in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 5:51 pm

AAPL

ABT

DXCM

PODD

TNDM

Apple Inc has appointed Tim Millet to oversee its team developing a noninvasive blood sugar monitor. The move signals a significant step in Apple's health technology endeavors. High-tech diabetes stocks DexCom Inc, Insulet Corporation, and Tandem Diabetes Care Inc are down YTD. Abbott Laboratories is also a player in the market. Apple aims to make the glucose monitor compact enough to fit within the Apple Watch.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 5:46 pm

Micron Technology Inc's shares are trading lower due to weakness in semiconductor and chip stocks. This is reportedly due to Taiwan Semiconductor Manufacturing Company (TSMC) instructing its suppliers to postpone the delivery of high-end chipmaking equipment amid demand uncertainty. This could potentially cause delays in the supply of critical components to companies like Micron, disrupting their production schedules and increasing costs.

Portfolio Pulse from Henry Khederian

September 15, 2023 | 5:41 pm

AMAT

TSM

Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower due to a reported delay in delivery of high-end chipmaking equipment by Taiwan Semiconductor Manufacturing Company (TSMC). As a major supplier of such equipment, Applied Materials' revenue and earnings could be affected by this delay. The delay reflects concerns about the market outlook, driven by weaker economic conditions and softer end-market demand.

Portfolio Pulse from Henry Khederian

September 15, 2023 | 5:38 pm

CRM

Salesforce Inc (NYSE:CRM) received mixed reviews on its AI monetization despite bullish analyst predictions. RBC Capital analyst Rishi Jaluria reiterated Salesforce with an Outperform and a $240 price target, while Needham analyst Scott Berg reiterated Salesforce with a Buy and a $250 price target. Both analysts attended the Dreamforce conference and noted the company's focus on AI. However, there were concerns about the company's ability to monetize its AI functionality. CRM shares traded lower by 2.00% at $214.40 on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

September 15, 2023 | 5:30 pm

AMC

GME

SONY

The movie 'Dumb Money', which portrays the GameStop meme stock saga, is set to hit theaters in limited release this week, with a national expansion on Sept. 22. Citadel founder and CEO Ken Griffin, who is portrayed in the film, was reportedly unhappy with the original script, citing several errors and inaccuracies. Screenwriters deny that changes were made due to Griffin's request. The movie is adapted from the book 'The Antisocial Network' and is produced by Sony Group Corp. It also features the story of AMC Entertainment Holdings and BlackBerry Limited.

Portfolio Pulse from Chris Katje

September 15, 2023 | 4:44 pm

AVTX

FFIE

IOVA

NVX

PTCT

Several stocks experienced significant price movements in Friday's mid-day session. Novonix Limited's shares rose by 27.4% after the company announced it achieved high-performance battery grade synthetic graphite production milestones. Iovance Biotherapeutics' shares jumped 20.8% after the FDA extended its BLA Priority Review for lifileucel. Faraday Future Intelligent Electric's shares gained 19.5% after announcing a new car delivery. On the other hand, Avalo Therapeutics' shares fell 31.6% after agreeing to divest AVTX-800 series. PTC Therapeutics' shares fell 31.6% after receiving a negative opinion on the conversion of the conditional marketing authorization to full marketing authorization of Translarna.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 4:40 pm

DXCM

PODD

TNDM

Shares of diabetes and glucose monitoring companies are trading lower following a report that Apple is developing a glucose tracker. Raymond James also cut its price targets on Dexcom and Insulet.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:18 pm