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TOST

Toast Inc. has decided to remove the $0.99 order processing fee from the new version of its digital ordering suite. This decision is expected to be implemented by the end of this week.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 7:50 pm

AAPL

MSFT

QQQ

Microsoft Inc’s (NASDAQ:MSFT) stock traded lower on Wednesday following reports of Apple (NASDAQ:AAPL) working on AI tools that could compete with those of OpenAI. Microsoft's stock could also be experiencing a pullback after hitting all-time highs on Tuesday. The company recently announced an aggressive pricing plan for its AI-powered Microsoft Office tools. The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) was in the red, while the S&P 500 and Dow Industrial remained in the green.

Portfolio Pulse from Aaron Bry

July 19, 2023 | 7:46 pm

F

GM

SPY

TSLA

The Biden administration plans to purchase 9,500 electric vehicles (EVs) for government fleets in the current budget year, according to a government report cited by Reuters. The move is part of the administration's efforts to transition to clean energy and reduce carbon emissions.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 7:23 pm

ATVI

Activision Blizzard Inc (NASDAQ:ATVI) has faced backlash from gamers following the release of Diablo 4's latest patch, 1.1.0, which players believe has slowed down progression in the game. The company has assured players that it will address their concerns, with Diablo community development director Adam Fletcher announcing a 'Campfire Chat' to discuss the changes.

Portfolio Pulse from Franca Quarneti

July 19, 2023 | 6:45 pm

TRSSF

The New York State Cannabis Control Board (NYCCB) has decided to add 212 additional retail dispensary licenses, bringing the total to 463. The move is part of the state's delayed rollout of legal cannabis. Jason Wild, executive chairman of Terrascend Corp (OTC: TRSSF), criticized the slow rollout, suggesting that the state lost out on millions in tax revenue and hurt stakeholders.

Portfolio Pulse from Maureen Meehan

July 19, 2023 | 6:34 pm

GKOS

SGHT

Needham expects Glaukos Corp (GKOS) to surpass expectations and raise its Q2 FY23 outlook, driven by rebounding iStent inject volumes and the accelerating iAccess and iPRIME launches. The analyst firm maintains a Buy rating and raises the price target to $89 from $67. Glaukos could see increasing iStent momentum before favorable ASC facility fee changes in 2024. The changes could potentially drive $10 million in revenue to GKOS in 2024.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 6:26 pm

AMZN

GOOG

MSFT

QQQ

Amazon Inc's stock rose by nearly 2% on Wednesday, outperforming other mega-cap tech stocks like Alphabet Inc and Microsoft Corp, despite no specific company news and a general weakness in the tech sector. The Invesco QQQ Trust Series 1, which tracks 100 of the biggest NASDAQ-listed companies, was trading down slightly. Amazon's recent Prime Day event and a summer heat wave driving up sales of cooling products may have contributed to the stock's performance.

Portfolio Pulse from Aaron Bry

July 19, 2023 | 6:12 pm

SPLK

BMO Capital and Truist analysts have reiterated their Buy ratings on Splunk Inc (NASDAQ:SPLK), with price targets of $117.00 and $130.00 respectively. The analysts highlighted the improved integration of Splunk's observability solution and the launch of the Splunk AI assistant. Despite pricing frustrations, all companies renewed with Splunk. The company's multiple growth levers, operational efficiencies, and upcoming renewal conversations provide expansion opportunities.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 6:11 pm

PEN

Baird has initiated coverage on Penumbra Inc (NYSE:PEN) with an Outperform rating and a price target of $375. The analyst notes that Penumbra, a pioneer in aspiration mechanical thrombectomy (MT), is set for robust revenue growth over the next 2-3 years, supported by various factors. The company's proprietary FLASH and BOLT MT systems, launched in 2023, are expected to drive growth. Penumbra has identified multiple large and underpenetrated addressable market opportunities in vascular and neuro segments. The company's ongoing clinical trials hold the potential to accelerate MT adoption and expand the addressable markets.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 5:59 pm

CWBR

CohBar has received a Notice of Allowance for its U.S. patent application titled 'Therapeutic Peptides (for the treatment of metabolic disease, cancer, liver disease, and methods of modulating fatty acid metabolism)'. This could potentially strengthen the company's intellectual property portfolio and provide a competitive edge in the market.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:58 pm