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SG

Piper Sandler analyst Brian Mullan upgraded Sweetgreen, Inc. (NYSE:SG) from Neutral to Overweight, raising the price target to $19 from $13. The upgrade is based on the potential of the company's new automated ordering technology, which is expected to significantly boost margins. The technology is expected to contribute to a 300 to 350 bps lift to SG's consolidated margins by the end of the decade.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 5:50 pm

F

TSLA

VWAGY

XOM

Exxon Mobil Corp is in discussions with Tesla Inc, Ford Motor Co, and Volkswagen AG to supply lithium, a key component in electric vehicle (EV) batteries, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 5:47 pm

ANAB

GSK

AnaptysBio, Inc. (NASDAQ:ANAB) and GSK have received FDA approval for their immuno-oncology treatment, JEMPERLI, in combination with chemotherapy for the treatment of dMMR/MSI-H primary advanced or recurrent endometrial cancer. This is the first such treatment approved in the frontline setting for this patient population. The approval could significantly drive JEMPERLI royalties. AnaptysBio is entitled to receive milestones and tiered royalties of 8% for net sales of JEMPERLI below $1 billion and 12% up to 25% of net sales above $1 billion.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 5:37 pm

QTRX

Quanterix Corporation's shares are trading higher following the announcement that its Simoa technology supported a large international study to establish sNfL reference ranges for assessing neurological disease activity in children and adolescents.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 5:25 pm

F

Ford Motor Co (NYSE:F) reported a Q2 revenue surge, overshadowing a $4.5 billion loss in its electric vehicle (EV) segment. Morgan Stanley analyst Adam Jonas maintains an Overweight rating on Ford with a price target of $16.00, despite raising the EV loss estimate by 50%. Ford's Q2 revenue was $45.0 billion, a 12% YoY increase, beating the consensus estimate of $40.38 billion. Jefferies analyst Philippe Houchois downgraded Ford from Buy to Hold and lowered the price target from $17 to $15. Ford also recalled 870,000 F-150 trucks due to a possible wiring issue.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 5:21 pm

TSLA

UBER

Uber plans to purchase 100 Tesla Model Y vehicles for the Japan market. These vehicles will be deployed as Uber Premium exclusive vehicles by 2024.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 5:18 pm

W

Wayfair Inc's shares are trading higher due to positive analyst coverage. Piper Sandler analyst upgraded Wayfair from a Neutral rating to an Overweight rating and raised the price target from $35 to $97. Other analysts also increased their price targets. Last week, Wayfair launched a new AI product, Decorify, which allows customers to reimagine their spaces based on their style preferences.

Portfolio Pulse from Adam Eckert

July 31, 2023 | 5:10 pm

BAX

Baxter International Inc (BAX) has issued an urgent correction for its Spectrum V8 and Spectrum IQ infusion pumps due to a software error causing false alarms. The correction involves reverting the software to an earlier version. The false alarms could interrupt or delay medical therapy, posing serious health risks. Baxter has received three reports of severe injury potentially linked to this issue. Meanwhile, Barclays and Keybanc analysts have lowered their price targets for BAX.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 4:57 pm

AMZN

EBAY

MSFT

WMT

eBay Inc's shares dropped 10.5% after Q2 results, despite beating earnings expectations. The company's revenue grew 5% YoY to $2.54 billion, but gross merchandise value (GMV) contracted 2% to $18.2 billion. eBay lost 1 million active buyers QoQ, totaling 132 million. The company has integrated Microsoft's Azure's open AI API into its core listing flow to simplify listings for sellers. However, eBay is facing stiff competition from Amazon and Walmart.

Portfolio Pulse from Upwallstreet

July 31, 2023 | 4:55 pm

MRK

MRNA

Merck & Company (NYSE:MRK) is set to report its Q2 financial results, with analysts expecting a revenue of $14.387 billion and a loss of $2.17 per share. The company's Keytruda cancer immunotherapy is in focus, with recent trial results suggesting further applications and increased revenue possibilities. Merck has also reported data from two late-stage studies for its pneumococcal conjugate vaccine and results from a midstage trial for a cancer vaccine being developed with Moderna Inc (NASDAQ:MRNA).

Portfolio Pulse from Chris Katje

July 31, 2023 | 4:34 pm