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Major US banks are set to release their Q2 results on July 14 and 17. The top performers in Q2 were Wells Fargo, JP Morgan, and Charles Schwab, while Morgan Stanley and Citigroup lagged behind. The financial sector, tracked by the Financial Select Sector SPDR Fund, posted a 5.44% gain, while regional banks saw a 4.8% decline. Investors should monitor the impact of rising deposit rates, credit normalization, and the aftermath of the regional bank crisis in March. All 23 large US banks passed the Federal Reserve's stress tests last month.

Portfolio Pulse from Piero Cingari

July 11, 2023 | 6:20 pm

MELI

A significant amount of unusual options activity has been detected for MercadoLibre (NASDAQ:MELI), with a bearish stance being taken by a majority of investors. Of the 53 strange trades detected, 41% were bullish and 58% were bearish. The price target range for MercadoLibre over the last 3 months has been between $820.0 to $1840.0. The current price of MELI is up 2.86% at $1118.21. B of A Securities has downgraded its action to Neutral with a price target of $1350.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:17 pm

CVX

Unusual options activity has been observed for Chevron (NYSE:CVX), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 options trades for Chevron, with 70% bearish sentiment. The price range targeted by these investors for Chevron over the last 3 months is from $110.0 to $170.0. The price of CVX is currently up 1.53% at $157.62. Analysts from Mizuho, Piper Sandler, and Citigroup have maintained their Neutral and Overweight ratings on Chevron, with price targets of $205, $188, and $170 respectively.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:17 pm

Blackstone Inc. (BX) shares are trading higher on Tuesday after Wells Fargo analyst Timothy O'Shea maintained an Overweight rating and raised the price target from $101 to $104. Blackstone is set to report second-quarter earnings in nine days with estimated earnings per share of 93 cents and revenue of $2.42 billion. BX stock experienced above-average trading volume of 4.63 million shares on Tuesday.

Portfolio Pulse from Ryan Gustafson

July 11, 2023 | 6:16 pm

TTWO

Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) hit a new 52-week high, trading higher by 4.38% to $150.24. The rise is in sympathy with Activision Blizzard after a federal judge denied the FTC's request for a preliminary injunction of Microsoft's acquisition of the company. The FTC had not shown it is likely to succeed on its assertion that the combined firm will lessen competition in the video game library subscription and cloud gaming markets.

Portfolio Pulse from Henry Khederian

July 11, 2023 | 6:14 pm

TBLT

ToughBuilt Industries has received a notice from Nasdaq for failing to maintain a minimum bid price of at least $1.00 per share for the prior 30 consecutive trading days. The company has until January 3, 2024, to regain compliance.

Portfolio Pulse from Charles Gross

July 11, 2023 | 6:13 pm

MVST

Microvast Holdings Inc (NASDAQ:MVST) announced an expansion of its energy division with a new manufacturing facility in Windsor, Colorado. The facility, expected to be operational in 2023, will play a significant role in delivering energy storage systems to the fast-growing utility-scale energy storage market. The strategic location will optimize the company's supply chain and reduce lead times. Microvast's stock has rallied over the past few months, driven by better-than-expected quarterly results and raised full-year 2023 guidance.

Portfolio Pulse from Adam Eckert

July 11, 2023 | 6:12 pm

EVBG

Needham analyst Scott Berg upgraded Everbridge, Inc. (NASDAQ:EVBG) to Buy from Hold, with a price target of $35. The analyst notes that Everbridge's sales productivity is rapidly improving, setting up a more predictable future growth outlook benefiting from CEM multi-product sales. The company's upcoming free cash flow (FCF) generation is impressive, with margins quickly jumping above 15%. The company looks to generate ~$60 million of FCF in FY23, up rapidly from $1.6 million in FY22. For FY23, Berg sees total revenues to jump 6.3% Y/Y to $459.12 million.

Portfolio Pulse from Nabaparna Bhattacharya

July 11, 2023 | 6:10 pm

Shares of Unity Software Inc (NYSE:U) are trading higher by 8.33% following a federal judge's denial of the FTC's request for a preliminary injunction of Microsoft's acquisition of Activision Blizzard. The judge stated that the FTC failed to show that the acquisition would lessen competition in the video game library subscription and cloud gaming markets.

Portfolio Pulse from Henry Khederian

July 11, 2023 | 6:08 pm

SPY

TUR

U.S Secretary of State Blinken has had discussions with Congress, including Senator Menendez, regarding the sale of F-16 jets to Turkey. The companies and ETFs potentially impacted by this news include General Dynamics (GD), SPDR S&P 500 ETF Trust (SPY), and iShares MSCI Turkey ETF (TUR).

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 6:04 pm