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CAMT

LESL

MSFT

Several analyst forecasts were released on Tuesday for various companies. Notably, B of A Securities boosted the price target for Camtek Ltd. (CAMT) from $30 to $50 and upgraded the stock from Neutral to Buy. Loop Capital cut Leslie's, Inc. (LESL) price target from $16 to $6 and downgraded the stock from Buy to Hold. Keybanc increased Microsoft Corporation (MSFT) price target from $340 to $400 and maintained an Overweight rating.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 11:37 am

LMT

Lockheed Martin has raised its FY23 outlook, with revenue now expected to be between $66.25B and $66.75B, up from the previous estimate of $65B - $66B. The EPS is now projected to be $27 - $27.20, up from $26.60 - $26.90. The free cash flow remains unchanged at $6.2B.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:34 am

SYF

Synchrony Financial (SYF) reported Q2 sales of $4.12 billion, in line with consensus. Net interest income rose 8% Y/Y to $4.1 billion, while net earnings declined to $569 million from $804 million a year ago. The company beat the consensus with Q2 EPS of $1.32. SYF revised its 2023 outlook, expecting loan receivable growth of +10% and a net interest margin of 15.00% – 15.15%. The company's shares are trading higher by 1.30% at $35.97 premarket.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 11:32 am

LMT

Lockheed Martin has reported a record backlog of $158 billion in Q2.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:31 am

LSEA

MOD

NEGG

ZGN

The article lists five consumer stocks that are considered overbought, indicating they may be overvalued. The stocks are RH (NYSE:RH), Newegg Commerce, Inc. (NASDAQ:NEGG), Modine Manufacturing Company (NYSE:MOD), Landsea Homes Corporation (NASDAQ:LSEA), and Ermenegildo Zegna N.V. (NYSE:ZGN). The Relative Strength Index (RSI) values for these stocks are above 70, suggesting they may be due for a price correction.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 11:30 am

AAPL

INTC

NVDA

QCOM

TSM

Nvidia Corp (NVDA) stock is trading higher as U.S. chipmaker executives, including those from Intel Corp (INTC) and Qualcomm Inc (QCOM), met with top Biden administration officials to discuss a softer China policy. Nvidia has tweaked its AI chip for the Chinese market, which is gaining traction. Meanwhile, Chinese chip startup Shanghai Biren Intelligent Technology Co is considering a Hong Kong IPO by 2023 and is in discussions for a separate funding round.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:21 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock traded lower as China's economy growth lagged market expectations and Wall Street banks reduced their targets. China's GDP grew at an annual pace of 6.3% last quarter, trailing the consensus forecast of a 7.1% gain. Analysts do not expect the GDP data to prompt Beijing to step up stimulus measures. Morgan Stanley, JPMorgan Chase, and Citigroup trimmed their growth forecasts for China's GDP this year to 5%.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:18 am

UBER

Uber Technologies, Inc (NYSE:UBER) stock is trading lower following reports of its ongoing legal battle with a California lawsuit claiming it should have covered UberEats drivers' work-related expenses. The California Supreme Court ruled that UberEats driver Erik Adolph did not give up his right to sue on behalf of a large group of workers, despite agreeing to bring his work-related legal claims in private arbitration. This ruling conflicts with the Viking River decision and violates a federal law that requires enforcing valid arbitration agreements, according to Uber's lawyer.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:14 am

RUN

Morgan Stanley has maintained an Overweight rating on Sunrun's stock and raised its price target from $30 to $39. This has led to Sunrun shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:05 am

CATC

Cambridge Bancorp (NASDAQ:CATC) reported Q2 adjusted earnings of $1.23 per share, beating the analyst consensus estimate of $1.18 by 4.24%. However, this is a 35.26% decrease from the same period last year. The company's quarterly sales were $39.79 million, missing the analyst consensus estimate of $40.61 million by 2.02%, and marking a 12.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:04 am