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SPY

Philadelphia Federal Reserve Bank President Patrick Harker stated that the Fed has probably done enough in terms of rate hikes. He noted strong GDP growth, declining inflation, and low unemployment, but also mentioned a tightening of credit standards and a slight increase in credit card delinquencies. Harker is not overly concerned about the 10-year yield and sees a softening of demand trends, particularly from low-income consumers. He expects a broader slowdown in the economy and believes it's okay if unemployment rises to around 4% or slightly higher.

Portfolio Pulse from Adam Eckert

August 24, 2023 | 4:16 pm

ATVI

A significant bullish stance has been taken on Activision Blizzard (NASDAQ:ATVI) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 76% bullish and 23% bearish. The whales have been targeting a price range from $80.0 to $92.5 for Activision Blizzard over the last 3 months. The current price of ATVI is $91.77, with the stock considered neutral between overbought and oversold.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:16 pm

NVDA

Jim Lebenthal announced on CNBC that he has purchased shares of Nvidia (NVDA).

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 4:10 pm

LTH

Life Time Group Holdings Inc (NYSE:LTH) has had its issuer credit rating upgraded to B2 from B3 by Moody's Investor Service, citing improving performance, membership, revenue and EBITDA trends, and steps taken to improve its balance sheet and reduce leverage. The company also closed a sale-leaseback transaction for approximately $45 million in gross proceeds. However, LTH shares are trading lower by 1.72% at $16.59.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:10 pm

FITB

Raymond James analyst David J. Long initiated coverage on Fifth Third Bancorp (NASDAQ:FITB) with a Market Perform rating. Long believes FITB is well positioned for long-term loan growth, boosted by its investment in Southeastern U.S. However, he sees near-term loan and deposit growth headwinds due to uncertain economic outlook and higher interest rates. He expects rising deposit costs and the mix shift to higher-cost deposits to result in NIM contraction in H2 2023 and 2024. FITB's shares are trading higher by 0.92% at $25.67.

Portfolio Pulse from Lekha Gupta

August 24, 2023 | 4:05 pm

BLZE

GES

OIG

SCTL

TDCX

WOOF

US stocks turned lower with the Dow Jones falling more than 200 points and NASDAQ falling 1.35%. Initial jobless claims fell by 10,000 to 230,000. TDCX Inc., Guess?, Inc., and Backblaze, Inc. saw their shares rise following positive Q2 earnings and raised revenue outlooks. Orbital Infrastructure Group, Inc., Societal CDMO, Inc., and Petco Health and Wellness Company, Inc. saw their shares drop due to bankruptcy filings, public offering pricing, and Q2 results respectively.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 4:03 pm

NVDA

NVIDIA (NASDAQ:NVDA) has outperformed the market over the past 20 years by 25.88% on an annualized basis, producing an average annual return of 33.41%. If an investor had bought $100 of NVDA stock 20 years ago, it would be worth $31,903.74 today.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:01 pm

BOWL

Over the past 3 months, 4 analysts have published their opinion on Bowlero (NYSE:BOWL) stock. The analysts have an average price target of $19.0 versus the current price of Bowlero at $10.35, implying upside. This current average has decreased by 11.63% from the previous average price target of $21.50.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:01 pm

VMC

Vulcan Materials (NYSE:VMC) has received mostly bullish ratings from analysts in the last quarter, with an average price target of $250.91, indicating an upside from the current price of $215.5. The average price target has increased by 11.2% over the past month.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:01 pm

RIVN

Over the past 3 months, 21 analysts have published their opinion on Rivian Automotive (NASDAQ:RIVN) stock. The average price target for Rivian Automotive has increased by 27.96% from the previous average price target of $22.07 to $28.24. The majority of the ratings are bullish.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:00 pm