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SHOP

Evercore ISI Group analyst Mark Mahaney has downgraded Shopify (NYSE:SHOP) from Outperform to In-Line and announced a $69 price target.

Portfolio Pulse from richadhand@benzinga.com

July 18, 2023 | 8:42 am

BAC

LMT

MASI

MS

NVS

Bank of America, Morgan Stanley, Novartis AG, Masimo Corporation, and Lockheed Martin Corporation are the stocks to watch heading into Tuesday. Bank of America and Morgan Stanley are expected to post earnings before the opening bell. Novartis AG reported better-than-expected Q2 results and boosted its full-year earnings forecast. Masimo Corporation reported weak preliminary Q2 revenue results. Lockheed Martin is expected to report earnings before the opening bell.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 8:10 am

EWA

Australia's S&P/ASX 200 index fell by 0.20% to end the session at 7,283.80, with seven out of 11 industry sectors finishing in the red. The industrial sector was among the worst performers. The AUD/USD was up 0.13% to 0.6824. Shares of Lendlease fell 4.9% to $8.13 after the company announced plans to cut about 10% of its workforce.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 7:00 am

EWJ

Japan's Nikkei 225 index closed higher by 0.32% at 32,493.89, reflecting gains in the financial sector and chip-making equipment company. The USD/JPY was down 0.24% to 138.38.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:52 am

BAC

LMT

MS

The CNN Money Fear and Greed index remains in the 'Extreme Greed' zone, indicating high market sentiment. The Dow Jones has recorded gains for six consecutive sessions, settling at its highest level in 2023. The NY Empire State Manufacturing Index fell by 5.5 points to a reading of +1.1 in July, exceeding market estimates. Traders anticipate a 97% chance of the US Federal Reserve raising interest rates later this month. Investors are awaiting earnings results from Bank of America Corporation, Morgan Stanley, and Lockheed Martin Corporation.

Portfolio Pulse from Lisa Levin

July 18, 2023 | 6:52 am

BTCUSD

Robert Kiyosaki, author of 'Rich Dad Poor Dad', has warned of a potential depression and advised caution for those whose futures depend on stocks and bonds. He sees signs of a severe crash in these markets and urges investors to seek professional advice. Kiyosaki's warning comes amid increasing economic uncertainty and aligns with his previous prediction of Bitcoin's rise as an alternative investment. He has predicted that Bitcoin could reach $120,000.

Portfolio Pulse from Benzinga Neuro

July 18, 2023 | 6:22 am

NVS

Novartis has raised its FY23 outlook, expecting its Innovative Medicines sales to grow in the high single digits, up from the previous mid-single digit growth forecast. The company also anticipates its core operating income to grow in the low double digits to mid-teens, an increase from the previous high single to low double digit growth prediction. This revised outlook is due to strong H1 momentum.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:11 am

F

TSLA

Ford Motor Co. has reduced the prices of its F-150 Lightning pickup truck by up to $9,979, a move seen by Deepwater Asset Management analyst Gene Munster as a reaction to Tesla's Cybertruck. Munster believes Ford's price cut indicates concern about competition from Tesla, but does not expect it to impact Cybertruck sales due to the long waiting list for the Tesla vehicle. However, he sees the price cut as potentially negative for Tesla in the long term due to increased competition.

Portfolio Pulse from Shanthi Rexaline

July 18, 2023 | 6:02 am

META

Meta Platforms Inc. (NASDAQ:META) CEO, Mark Zuckerberg, has implemented rate limits on Threads to combat spam attacks. This move, however, may restrict active users. Elon Musk, Twitter owner, mocked the situation. Threads had over 100 million users sign up in less than a week, but reports indicate a decline in daily active users and app usage time.

Portfolio Pulse from Ananya Gairola

July 18, 2023 | 6:01 am

ARKK

ARKW

COIN

HOOD

META

SOFI

TSLA

TWLO

Ark Invest, led by Cathie Wood, sold 45,184 shares of Tesla Inc (TSLA) worth approximately $13.12 million, while buying 4,184 shares of Meta Platforms Inc (META) worth nearly $1.3 million. The trades were made through the Ark Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). Other trades included the purchase of shares in Twilio Inc (TWLO), SoFi Technologies Inc (SOFI), and Robinhood Markets Inc (HOOD) through the Ark Fintech Innovation ETF (ARKF), and the sale of shares in Coinbase Global Inc (COIN).

Portfolio Pulse from Benzinga Neuro

July 18, 2023 | 5:46 am