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EVO 2023, a fighting game tournament, announced several updates for popular games. Capcom's Street Fighter 6 will feature a Teenage Mutant Ninja Turtles crossover and a new character, A.K.I. Warner Bros. Discovery's Mortal Kombat 1 added new fighters. Bandai Namco's Tekken 8 confirmed the return of Raven and introduced a new character, Azucena. Tencent's Riot Games revealed Yasuo as a new character in Project L. Paramount Global's Nickelodeon All-Star Brawl 2 revealed Plankton from SpongeBob SquarePants as a new character.

Portfolio Pulse from Franca Quarneti

August 07, 2023 | 6:47 pm

DIS

DISCA

Warner Bros. Discovery is planning to launch a sports tier for its Max streaming service, targeting the start of the Major League Baseball playoffs. The company plans to simulcast games from the MLB, NBA, NHL, and NCAA, and add content from Bleacher Report. The new tier will be branded under the Bleacher Report name. The company hinted at charging users more for sports during its Q2 earnings call. No MLB games would appear exclusively on Max.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 6:39 pm

IRTC

Truist Securities analyst Richard Newitter has reiterated a Buy rating on IRhythm Technologies, Inc. (IRTC), but lowered the price target to $138 from $155. This follows IRTC's Q2 report, which showed better-than-expected opex and cost efficiencies. The company's Zio product received a high medical needs designation from the Japanese Ministry of Health and Welfare, potentially setting up the company for commercialization in Japan in 2025. Despite the positive news, IRTC shares are trading lower by 2.2% to $112.72.

Portfolio Pulse from Nabaparna Bhattacharya

August 07, 2023 | 6:32 pm

MGPI

Truist Securities analyst Bill Chappell has reiterated a Buy rating on MGP Ingredients, Inc. (NASDAQ:MGPI), raising the price target to $140 from $125. The analyst praised the company's whiskey orders, which are primarily locked in for 2024, and the potential upside from recent and future acquisitions. The company's Premium Branded Spirits orders returned to normal in June, indicating good growth prospects. The analyst also raised the FY23 sales estimate to $826.4 million from $822.0 million, and the EPS estimate to $5.42 from $5.10.

Portfolio Pulse from Nabaparna Bhattacharya

August 07, 2023 | 6:19 pm

MAT

WBD

Analysts from Truist Securities and Benchmark have maintained a Buy rating for Warner Bros. Discovery Inc (WBD), despite lowering the price target from $18 to $17 and $26 respectively. The analysts are optimistic due to the success of Barbie, which crossed $1B in global box office, and the company's strong FCF and cost synergy execution. However, they noted soft results and a lack of recovery in the linear ad market. Barbie's partner, Mattel, Inc (MAT), has 14 projects in active development.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:18 pm

AAPL

GOOGL

MSFT

Microsoft is planning to integrate its AI-powered Bing Chat to all mobile browsers, after initially restricting it to its own Edge browser and later opening it up to Chrome and Safari desktop browsers. The company has also reported over 1 million chats on Bing Chat and over 750 million images generated using the service. Windows Copilot, powered by Bing Chat, will soon be available under Windows 11. This move comes as Apple is reportedly working on AI tools that could challenge those of OpenAI's ChatGPT and Alphabet's Bard.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:10 pm

AMZN

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WMT

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Amazon.com, Inc. (NASDAQ:AMZN) continues to attract investor attention with positive Q2 results and exclusive deals for the Amazon Great Freedom Sale 2023 in India. The company announced deals for Samsung Electronics Co, Ltd (OTC:SSNLF), Xiaomi Corp (OTC: XIACY), and others. Amazon plans to increase its investments in India to $26 billion by 2030. The company's Q2 revenue increased 11% YoY to $134.4 billion, beating estimates. Amazon also plans to merge its various e-commerce supermarket offerings to compete with Walmart Inc (NYSE:WMT).

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:06 pm

HLLY

Telsey Advisory Group analyst Joseph Feldman has upgraded Holley Inc (NYSE:HLLY) from Market Perform to Outperform and raised the price target from $3 to $7.5. The analyst believes the company is at an inflection point, with significant cost reductions and operational efficiency improvements. Despite a microchip shortage, the company is redesigning products to rely less on older chips. The analyst expects Q2 sales to decline 4.0% to $172.2 million and FY23 sales to decline 3.3% to $665.7 million.

Portfolio Pulse from Shivani Kumaresan

August 07, 2023 | 6:05 pm

AMZN

BBY

DELL

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MSFT

SONY

WMT

Sony Group Corp is offering a significant discount on the PlayStation 5 console and related products at various retailers including Amazon, Best Buy, Walmart, and GameStop. This follows a similar price reduction in Europe last week and a 10% discount on Microsoft's Xbox Series X as part of Dell's Black Friday in July sale.

Portfolio Pulse from Franca Quarneti

August 07, 2023 | 5:55 pm

NVO

Novo Nordisk shares are trading higher, possibly due to a KFF health tracking poll showing nearly half of US adults are at least 'somewhat interested' in taking weight loss drugs.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:47 pm