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DKNG

ROTH MKM analyst Edward Engel has reiterated a Sell rating on DraftKings Inc. (NASDAQ:DKNG), raising the price target to $20 from $18. This is due to the expected positive 2Q EBITDA, driven by higher hold rates over the past four quarters. However, the analyst believes that the recent hold improvements are more luck-driven than investors acknowledge. Despite bullish investor sentiment, the analyst warns that increased promotional intensity could limit the upside to a 2Q beat.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:54 pm

GRIL

AGGIA FZ LLC has purchased 8,855,452 shares of Muscle Maker, Inc. at an average price of $3.12 per share, according to a Form 4 filing on July 14.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 6:52 pm

FTNT

Fortinet Inc.'s stock price is currently at $80.06, after a 0.28% drop. However, over the past month, the stock increased by 11.72%, and in the past year, by 34.24%. The company's P/E ratio is lower than the aggregate P/E of the Software industry, indicating that the stock might be undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:45 pm

BABA

BEKE

BILI

HUYA

PDD

TAL

TME

Shares of several Chinese companies are trading lower due to concerns over slow economic growth in China. Additionally, China's Evergrande reported significant losses in its overdue 2021 and 2022 results.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:41 pm

EWY

SPY

North Korea has launched a ballistic missile into waters off its east coast, according to Reuters citing Yonhap. This geopolitical event may impact global markets and specific ETFs like EWY and SPY.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 6:40 pm

META

Meta Platforms, Inc. (NASDAQ:META) shares are trading higher ahead of its Q2 earnings report due in 8 days. The EPS is estimated at $2.90 and revenue at $31.06 billion. Goldman Sachs analyst Eric Sheridan has maintained a 'Buy' rating for Meta and raised the price target from $300 to $335. The stock has rallied 43.33% over the past three months and 86.74% since the start of the year.

Portfolio Pulse from Ryan Gustafson

July 18, 2023 | 6:40 pm

ARGX

IMVT

Immunovant Inc's (NASDAQ:IMVT) FcRn strategy gains momentum as analysts view the ADHERE study as a de-risking factor for CIDP clinical development. The study was conducted by Argenx SE (NASDAQ:ARGX). Stifel has increased the price target for Immunovant from $28 to $34, and HC Wainwright has revised its price target from $27 to $29. The positive ADHERE data supports the autoantibody hypothesis in CIDP, suggesting that most CIDP patients could benefit from an FcRn inhibitor.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:39 pm

Truist Securities analyst Matthew Thornton has reiterated a Buy rating on Electronic Arts Inc. (NASDAQ:EA), raising the price target to $150 from $138. The analyst is optimistic about the company's long-term games pipeline and M&A optionality. Based on pipeline strength, the analyst raised the bookings outlook for Q1. EA shares are currently trading lower by 0.22% to $137.91.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:37 pm

BPTS

ICAD

LIXT

LMT

MASI

MICS

NMTR

US stocks traded higher with the Nasdaq Composite gaining over 100 points. Lockheed Martin Corp reported better-than-expected Q2 earnings with net sales growth of 8.1% YoY to $16.69 billion. The Singing Machine Company, Biophytis S.A., and iCAD, Inc. saw their shares rise after various positive announcements. However, 9 Meters Biopharma, Lixte Biotechnology Holdings, and Masimo Corporation saw their shares drop due to various negative developments.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 6:33 pm

TEL

TE Connectivity (NYSE:TEL) has outperformed the market over the past 10 years, producing an average annual return of 11.51%. If an investor had bought $1000 of TEL stock 10 years ago, it would be worth $2,962.58 today.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:30 pm