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The S&P 500 and Dow Jones closed higher on Friday, with the S&P adding 1.01% and the Dow climbing 0.66% for the week. The PCE price index rose 0.2% in June, and the Fed raised its benchmark overnight interest rate by 25 basis points. Intel Corporation and The Procter & Gamble Company saw gains after reporting better-than-expected results and strong guidance. The Nasdaq 100 rose 1.85% amid gains in shares of Amazon.com, Inc. and Tesla Inc. The CBOE Volatility Index fell 7.5%.

Portfolio Pulse from Lisa Levin

July 31, 2023 | 9:54 am

CTXR

Citius Pharmaceuticals received a Complete Response Letter from the FDA for Lymphir (Denileukin Diftitox) for relapsed/refractory cutaneous T-cell lymphoma, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:39 am

NAVB

Navidea Biopharmaceuticals has announced that the NYSE American has started delisting proceedings against the company. Navidea intends to appeal against this decision. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:37 am

LUV

Bernstein analyst David Vernon has downgraded Southwest Airlines (NYSE:LUV) from Outperform to Market Perform and lowered the price target from $41 to $32.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:35 am

PAG

JP Morgan analyst Rajat Gupta has downgraded Penske Automotive Group (NYSE:PAG) from Neutral to Underweight and lowered the price target from $150 to $140.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:29 am

CSX

RBC Capital analyst Walter Spracklin has downgraded CSX (NASDAQ:CSX) from Outperform to Sector Perform and set a price target of $35.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:28 am

OTLY

RBC Capital's analyst Nik Modi has downgraded Oatly Group (NASDAQ:OTLY) from Outperform to Sector Perform.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:26 am

ABR

Piper Sandler analyst Crispin Love has downgraded Arbor Realty Trust (NYSE:ABR) from Overweight to Underweight and set a price target of $16.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:24 am

EWH

TSLA

Tesla has reportedly reduced prices on some Model 3 and Model Y vehicles in Hong Kong, according to HK Economic Times cited by Reuters.

Portfolio Pulse from Charles Gross

July 31, 2023 | 9:10 am

VGK

The Eurozone Consumer Price Index (CPI) for July was reported at 5.3%, in line with estimates but slightly lower than the previous month's 5.5%.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:07 am