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EFTR

eFFECTOR Therapeutics has received a decision to grant a European patent for 'EIF4-A-INHIBITING COMPOUNDS AND METHODS RELATED THERETO (FOR TREATING CONDITIONS SUCH AS CANCER)'.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 6:07 pm

MSFT

PANW

Palo Alto Networks, Inc. (NASDAQ:PANW) shares dropped amid competition concerns from Microsoft (NASDAQ:MSFT) due to the launch of Microsoft Entra Internet Access and Microsoft Entra Private Access. These products are part of Microsoft's expansion into identity and access protection. Despite this, Northland Capital Markets analyst Nehal Chokshi maintained an Outperform rating for PANW and raised the price target from $246 to $305.

Portfolio Pulse from Ryan Gustafson

July 12, 2023 | 5:47 pm

BYND

Beyond Meat announced that its Beyond Steak product is expanding distribution to multiple chains, which has led to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 5:44 pm

BA

EADSF

Boeing Co (NYSE:BA) reported strong June 2023 aircraft deliveries, signaling a substantial rebound from previous production issues. Analysts from Susquehanna, RBC Capital, and Morgan Stanley have reiterated their ratings on the company, with price targets ranging from $220 to $260. However, continued supply chain disruptions and aircraft rework could limit Boeing's ability to raise its delivery outlook. For 1H23, Airbus SE (OTC:EADSF) leads the duopoly with 1,080 orders and 316 deliveries, while Boeing has posted 527 orders and 266 deliveries.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 5:34 pm

SIBN

Needham analyst David Saxon reiterated a Buy rating on SI-BONE, Inc (NASDAQ:SIBN), raising the price target to $32 from $27. The analyst expects SIBN to beat and raise in 2Q and sees further upside to 2H23 estimates. Factors such as sales force expansion, surgeon training, new product launches, and increased market penetration are expected to drive quarterly revenue growth. SIBN is predicted to end 2Q with >$150 million in cash and equivalents. The analyst also forecasts an upside on the bottom line throughout 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 5:18 pm

GM

SPY

The National Highway Traffic Safety Administration (NHTSA) is planning to make a decision soon on General Motors' (GM) petition to deploy up to 2,500 self-driving vehicles annually without human controls, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 5:12 pm

PYPL

TSLA

Elon Musk has launched a new venture, xAI, with the aim to 'understand the true nature of the universe'. The team includes members from DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto. xAI will closely cooperate with X Corp, Tesla, and other companies. The name xAI refers to Musk's early endeavor, X.com, which later merged with PayPal Holdings Inc. Musk has previously expressed his AI ambitions and concerns about its potential dangers.

Portfolio Pulse from AJ Fabino

July 12, 2023 | 4:55 pm

SNAP

Snap, Inc. (NYSE:SNAP) shares are moving higher, adding to the stock's climb over the last 30 days. The stock is moving higher on heavy trading volume despite a lack of company specific news. Snap shares have gained more than 10% over the last two trading sessions, and the stock has surged more than 30% over the last month. Snap CEO Evan Spiegel said the company's MyAI chatbot, which was released in February, already has 150 million users and could drive higher revenues. Snap will release its second-quarter financial results on July 25.

Portfolio Pulse from Erica Kollmann

July 12, 2023 | 4:46 pm

ETHUSD

META

Ethereum Worlds, creators of Ethereum Towers, have announced the final mint of their luxury metaverse apartments for July 13. The apartments are customizable and owners can manage their assets using the Web Companion App. Ethereum Worlds has partnered with Trustless to provide apartment owners with access to events. The Ethereum Towers community is currently testing the platform and owners will soon be able to access their apartments via a headset from Meta Platforms Inc.

Portfolio Pulse from Murtuza Merchant

July 12, 2023 | 4:36 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are experiencing volatility, with the stock up nearly 5% in the last five days and 80% over the last month. The stock is moving on heavy volume with more than 53 million shares traded in the session. Barclays analyst Dan Levy maintained an Overweight rating on Rivian and raised the RIVN price target from $22 to $30. Rivian recently reported its Q2 production of 13,992 electric vehicles and delivery of 12,640 vehicles, and is on track to achieve its annual production goal of 50,000 vehicles.

Portfolio Pulse from Erica Kollmann

July 12, 2023 | 4:35 pm