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DVN

RBC Capital Markets analyst Scott Hanold has reiterated a Sector Perform rating on Devon Energy Corporation (DVN), but lowered the price target to $60 from $63 due to reduced commodity price forecast. The analyst lowered 2Q EPS estimates by $0.49 to $1.18, reflecting lower final benchmark commodity prices and wider price realizations. Hanold expects 2Q capital spending at $985 million, below the midpoint of the guidance and consensus estimates. DVN shares are trading lower by 0.86% to $50.65.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 5:28 pm

JYD

Shares of Jayud Global Logistics were halted on a circuit breaker to the upside, with the stock now up 14.8%.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:27 pm

CCI

BMO Capital Markets analyst Ari Klein initiated coverage on Crown Castle Inc (NYSE:CCI) with an Underperform rating and a price target of $113. Despite CCI's strong position as a U.S. tower operator and potential for higher share of initial 5G deployments, Klein expects CCI's adjusted FFO/share to decline by 1.7% in 2024 and 1.3% in 2025, with minimal dividend growth. CCI's AFFO/share growth is expected to lag peers over the next few years.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 5:25 pm

AMZN

Dan Niles, a prominent investor, tweeted that the slowdown in e-commerce demand post-pandemic seems to be over. He noted that Amazon sold more than 375 million items during Prime Day, exceeding last year's 300 million and estimates of 325-350 million. Niles expects this to drive solid retail margin leverage, which he identifies as the biggest EPS driver going forward.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:24 pm

GS

Goldman Sachs is expected to report its worst quarterly earnings in years next week, with writedowns on its GreenSky consumer-lending business and commercial real estate holdings likely to exceed $2 billion. The poor performance is expected to increase pressure on CEO David Solomon, who has been criticized for his resource allocation and strategic decisions. The firm's relationship with the Federal Reserve has also reportedly deteriorated under Solomon's leadership.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:23 pm

ADSK

A significant bearish stance has been taken on Autodesk (NASDAQ:ADSK) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 23% bullish and 76% bearish. The whales have been targeting a price range from $175.0 to $300.0 for Autodesk over the last 3 months. Currently, the price of ADSK is up 1.35% at $218.22. Rosenblatt has downgraded its action to Buy with a price target of $235.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 5:22 pm

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares have gained more than 20% in the past five sessions and have climbed more than 65% higher over the last three months. The company is scheduled to launch its next mission on July 14 and will release its Q2 financial results on August 8.

Portfolio Pulse from Erica Kollmann

July 13, 2023 | 5:07 pm

GGAA

Shares of Genesis Growth Tech Acquisition Corp have resumed trading.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:06 pm

EDTX

Shares of EdtechX Holdings Acquisition Corp. II (EDTX) were halted on a circuit breaker due to a significant increase in the stock price, which is now up by 459.9%.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:06 pm

NVDA

NVIDIA Corporation's stock gapped up slightly to start Thursday's trading session, breaking up from a rising channel pattern on the daily chart. This move was a continuation after Nvidia rose over 4% Wednesday following reports indicating the company will make a long-term investment in the Arm IPO, set to take place in September. The stock negated a possible bearish double top pattern at the $439.90 mark and confirmed its uptrend remains intact.

Portfolio Pulse from Melanie Schaffer

July 13, 2023 | 5:06 pm