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ALIM

Alimera Sciences (NASDAQ:ALIM) has received four bullish analyst ratings in the last quarter, with an average price target of $5.75, indicating potential upside from the current price of $3.41. This average price target has decreased by 14.81% from the previous average of $6.75.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 7:00 pm

SOUN

Shares of SoundHound AI are trading higher on Monday, despite no company-specific news. The stock's rise may be attributed to the overall momentum in the AI sector.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 6:59 pm

MELI

MercadoLibre's stock is trading lower following a change in the company's CFO last week.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 6:57 pm

ATVI

MSFT

SONY

A leaked video suggests Sony Group Corp (SONY) may release a PlayStation 5 Slim, a smaller version of its current console, in 2023. The Slim model, which was mentioned in court documents presented by Microsoft Corp (MSFT) during the FTC trial against the acquisition of Activision Blizzard Inc (ATVI), is expected to cost $400. The new model may have a detachable disk drive and two USB-C ports. Sony may discontinue the current models and transition to the Slim version as its main offering.

Portfolio Pulse from Franca Quarneti

August 14, 2023 | 6:55 pm

EL

Telsey Advisory Group analyst Dana Telsey has reiterated an Outperform rating on Estee Lauder Companies Inc (NYSE:EL) with a price target of $250. The company is expected to report 4Q23 earnings on August 18, with an estimated EPS of $0.00 and a 4.3% Y/Y revenue increase to $3.714 billion. The company is expected to face Asia travel retail pressure due to headwinds in Korea and retailer inventory tightening in Hainan through 1H24. Despite this, the analyst is optimistic about the recovery prospects and the strength in demand across the rest of the business.

Portfolio Pulse from Shivani Kumaresan

August 14, 2023 | 6:54 pm

HD

LOW

Home Depot Inc (NYSE:HD) is set to report its Q2 financial results. Analysts expect a revenue of $42.25 billion, down from last year's $43.79 billion. The company has missed revenue estimates for the last two quarters. Earnings per share are expected to be $4.44, down from $5.05 last year. Analysts have mixed opinions on the stock's future, with some downgrading it due to a weak housing market and cautious consumer spending. Home Depot's fiscal 2023 guidance predicts a 2-5% sales decrease year-over-year. The company's shares are currently trading at $329.87, up 4.5% year-to-date.

Portfolio Pulse from Chris Katje

August 14, 2023 | 6:54 pm

AMC

BTAI

HE

MNDY

ZYNE

U.S. stocks traded mixed with the Nasdaq Composite gaining around 90 points. Monday.com Ltd reported better-than-expected earnings for its second quarter and raised 2023 revenue guidance. Zynerba Pharmaceuticals shares shot up 280% after Harmony Biosciences announced it will acquire the company for $200 million. Shares of Taysha Gene Therapies and Hanryu Holdings also rose significantly. BioXcel Therapeutics shares dropped 42% after the company reported second-quarter results and announced plans to reduce over 50% of jobs. Shares of Hawaiian Electric Industries were down 38% after Wells Fargo maintained an Underweight rating on the stock and lowered its price target. AMC Entertainment was down, falling 34% after the company received court approval for its revised stock conversion plan.

Portfolio Pulse from Lisa Levin

August 14, 2023 | 6:52 pm

DKNG

PENN

DraftKings Inc. (NASDAQ:DKNG) shares are trading lower following the agreement between Penn Entertainment (NASDAQ:PENN) and ESPN, which gave Penn exclusive rights to the ESPN Bet trademark for online sports betting in the U.S. for an initial 10-year term. This news impacted DKNG shares negatively. However, DKNG had previously received a boost from a strong earnings report and raised full-year 2023 revenue guidance.

Portfolio Pulse from Ryan Gustafson

August 14, 2023 | 6:51 pm

DKS

Bank of America Securities analyst has raised the price target for Dick's Sporting Goods Inc. (DKS) from $170 to $180, maintaining a Buy rating. The analyst also increased the Q2 EPS estimate to $3.83 and expects same-store sales growth of +4.0%. The company is set to report Q2 results on August 22. Despite expecting H2 comps at negative low-single-digits%, the analyst believes DKS has a stronger buffer compared to peers due to higher median household income.

Portfolio Pulse from Lekha Gupta

August 14, 2023 | 6:49 pm

COST

A significant bearish stance has been taken on Costco Wholesale (NASDAQ:COST) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is almost evenly split, with 48% bullish and 52% bearish. The price target for Costco Wholesale over the last three months has been between $220.0 and $595.0. Analysts from Jefferies, Truist Securities, and Oppenheimer maintain a 'Buy' rating on Costco, while Telsey Advisory Group has downgraded its action to 'Outperform'.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 6:46 pm