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AMZN

SPIKE

Amazon.com, Inc (NASDAQ:AMZN) launched its Fire TV Channels app to compete with Netflix, Inc and Walt Disney Co. Despite this, the stock has been in a downtrend since August 4. S&P Global Ratings downgraded several U.S. banks, which may have affected Amazon's stock. Wedbush analyst Michael Pachter assumed an Outperform rating on Amazon and announced a price target of $180, suggesting a 32% upside for the stock. However, if Amazon continues to trend lower, it could signal increased volatility in the stock market.

Portfolio Pulse from Melanie Schaffer

August 22, 2023 | 3:48 pm

FN

Fabrinet's (NYSE:FN) stock price surged over 28% after the company reported strong Q4 results, driven by significant growth in its AI sector. Analyst Alex Henderson from Needham maintained a Buy rating on Fabrinet and raised the price target from $150 to $165. Despite a decline in Telecom and traditional Data Comm, the company's AI-related products have grown from near-zero to $100-$140 million in just 15 months.

Portfolio Pulse from Priya Nigam

August 22, 2023 | 3:48 pm

CSIQ

Canadian Solar has reduced its FY23 revenue guidance, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:46 pm

PNC

A significant bearish stance has been taken on PNC Financial Services Group (NYSE:PNC) as evidenced by unusual options activity. The overall sentiment of these big-money traders is 90% bearish and 10% bullish. The trades include 6 puts for a total amount of $457,630 and 4 calls for a total amount of $263,160. The targeted price range for PNC over the last 3 months is from $105.0 to $132.0.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:46 pm

NVAX

Novavax shares are experiencing an upward trend due to a new wave of COVID-19 and increasing hospitalizations.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:45 pm

ASAN

Asana's shares are trading higher following the announcement of new intelligent product capabilities. These enhancements are expected to revolutionize how Project Management Office (PMO) teams drive strategic alignment and build smarter enterprise processes that scale.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:41 pm

VFS

Shares of Vietnamese EV maker VinFast Auto Ltd (NASDAQ:VFS) have been extremely volatile since its debut on the Nasdaq last week. The company's shares surged approximately 270% in its first day of trading before pulling back. The volatility is partly due to the fact that only 1% of the float was opened to outside investors, with the remaining 99% owned by the company's founder. The company's stock has also been trending among retail traders. Additionally, reports suggest that the company's magnet supplier, South Korea's Star Group Industrial, is investing $80 million in a new factory in Vietnam to double output, which may have contributed to the stock's resurgence.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 3:40 pm

AMZN

CACI

CACI International, Inc. has signed a multi-year strategic collaboration agreement with Amazon Web Services (AWS) to accelerate cloud capabilities for the U.S. Government. The deal will allow CACI to deliver information advantage to analysts within the Intelligence Community, the Department of Defense, and law enforcement. The agreement is expected to enhance CACI's ability to deliver faster cloud adoption, innovation in disconnected environments, and more insightful outcomes from data.

Portfolio Pulse from Nabaparna Bhattacharya

August 22, 2023 | 3:40 pm

PFIE

Profire Energy (PFIE) has been bought by the Navalier Newsletter, according to recent reports. This could potentially influence the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:36 pm

DHI

LEN

LOW

NVR

PHM

TOL

Existing home sales in the US declined 2.2% from June to July, marking a 16.6% drop YoY. The decline is attributed to inventory availability and mortgage rates. Lowe's Companies Inc reported better than expected earnings but missed revenue estimates. The company remains optimistic about the home improvement industry's mid-to-long term outlook. Investors are anticipating Toll Brothers Inc's earnings, with other homebuilding giants like DR Horton Inc, Lennar Corp, PulteGroup, Inc, and NVR Inc recently beating earnings expectations.

Portfolio Pulse from AJ Fabino

August 22, 2023 | 3:34 pm