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NTES

TCEHY

Tencent Holdings ADR (OTC:TCEHY) reported slower-than-expected Q2 revenue growth due to a sluggish economy and competition in the gaming industry. Despite a 12% increase in international gaming revenue, domestic gaming revenue remained nearly unchanged. The company also faced competition from rivals such as NetEase Inc (NASDAQ:NTES) and miHoYo. Overall revenue rose by 11%, falling short of the average analyst projection. However, net profit surged by 41% compared to the previous year.

Portfolio Pulse from Franca Quarneti

August 17, 2023 | 5:59 pm

LII

RBC Capital Markets analyst Deane Dray initiated coverage on Lennox International Inc (LII) with a Sector Perform rating and a price target of $391. Despite benefiting from Indoor Air Quality and WFH trends, and having a ROIC of 35%, LII's 70% exposure to the residential market is seen as a concern due to higher interest rates and a weakening macroeconomic market. The company is also facing labor shortages, supply chain disruptions, and inflation.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:58 pm

AAPL

SSNLF

Global smartphone shipments are predicted to experience their worst performance in a decade due to challenges in the U.S. and China. However, Apple Inc. is expected to emerge as the dominant player in the smartphone market, driven by steady demand for its premium iPhone line. Apple's shipments are likely to see a minor increase due to rising demand in markets like China. Apple is also making significant inroads into the Indian market. The company's shares traded higher by 0.21% at $176.91 premarket on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 5:57 pm

PDD

Unusual options activity has been observed for PDD Holdings (NASDAQ:PDD), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 11 options trades for PDD Holdings, with 63% bullish and 36% bearish sentiment. Whales have been targeting a price range from $65.0 to $100.0 for PDD Holdings over the last 3 months. The price of PDD is up 1.4% at $80.13, with RSI indicators suggesting the stock may be approaching overbought.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:46 pm

SLG

BMO Capital Markets analyst John P. Kim has downgraded SL Green Realty Corp (NYSE:SLG) to Market Perform from Outperform, citing high leverage and potential refinancing challenges due to higher interest rates. Despite this, SLG shares have risen 56% over the past three months, and the company has a strong leasing pipeline that could drive occupancy growth. Kim also lowered revenue estimates for FY23 and FY24.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:43 pm

DEN

XOM

KeyBanc Capital Markets analyst Tim Rezvan downgraded Denbury Inc (DEN) to Sector Weight from Overweight and removed the price target of $102. This follows DEN's share losses since the announcement of its acquisition by Exxon Mobil Corp (XOM) for $4.9 billion. Rezvan does not expect another bidder for DEN and sees a low chance of the deal breaking. However, if it does, DEN's share price could decline by 10% or more.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:41 pm

DGICB

EHTH

HIPO

SLQT

During Thursday's intraday session, insurance stocks showed mixed performance. Gainers included Hippo Holdings (HIPO), Donegal Gr (DGICB), Marpai (MRAI), Huize Holding (HUIZ), United Fire Gr (UFCS), and Intl General Insurance (IGIC). Losers included eHealth (EHTH), SelectQuote (SLQT), GoHealth (GOCO), Vericity (VERY), Heritage Insurance Hldgs (HRTG), and Selective Insurance Gr (SIGIP).

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:40 pm

HKIT

Shares of Hitek Global (HKIT) have resumed trading but were halted again due to a circuit breaker. The stock is currently down by 51.4%.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 5:38 pm

APPF

J.P.Morgan analyst Alexei Gogolev initiated coverage on AppFolio Inc (NASDAQ:APPF) with an Overweight rating and a price target of $200. The analyst believes APPF is an attractive play in the U.S. real estate market amid high-interest rates and increased vacancies from newly constructed residential properties. APPF posted Q2 FY23 revenues of $147.1 million, beating the consensus of $143.8 million, and EPS of $0.23, beating the consensus of $0.12.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:38 pm

ALKS

APLS

CVS

DHR

GILD

HRTX

LLY

NVO

RVPH

TLRY

Benzinga's options activity scanner has identified significant trading activity in 10 health care stocks. The stocks include HRTX, CVS, RVPH, TLRY, APLS, ALKS, LLY, DHR, GILD, and NVO. The options activity ranges from neutral to bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:35 pm