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SPY

Federal Reserve Bank of San Francisco President Mary Daly stated that the Fed is nearing the end of its rate-hiking cycle. This could potentially impact the overall market and ETFs like SPY.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:53 pm

EYPT

EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) shares are trading higher after the company appointed Jay Duker as CEO, transitioning from his role as COO and president. Duker has also been appointed to the company's Board of Directors. Former CEO Nancy Lurker has transitioned to executive vice chair of the Board of Directors. EYPT shares are up 9.13% at $8.77.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 3:50 pm

EVLO

Evelo Biosciences, Inc. (NASDAQ:EVLO) has entered into a securities purchase agreement to sell 11.03 million shares at $2.31 each in a private placement. The total proceeds of $25.5 million will be used to fund the Phase 2a trial of EDP2939, a product candidate for moderate psoriasis, pay down $5 million in debt, and for general corporate purposes. The private placement is expected to close on or about July 11, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 3:47 pm

KODK

Eastman Kodak Co (KODK) shares are trading higher by 2.15% on above-average volume, possibly due to continued momentum after the company and its subsidiaries announced a Term Loan Amendment. The amendment involves the company, Term Loan Lenders affiliated with Kennedy Lewis Investment Management LLC and Alter Domus (U.S.) LLC. The Refinancing Term Loan Lenders have committed to providing the company with $450 million in term loans, expected to be funded by July 21. The funds will be used for various purposes, including refinancing existing loans, repaying credit facility commitments, and meeting general corporate and working capital needs.

Portfolio Pulse from Henry Khederian

July 10, 2023 | 3:46 pm

AMCR

Bank of America Securities has downgraded Armcor's stock from Buy to Underperform and reduced its price target from $12.4 to $9. This has resulted in Armcor shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 3:46 pm

SPY

Federal Reserve's Loretta Mester has expressed her preference for a rate hike in June. This news could potentially impact the market and the SPY ETF.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:46 pm

AMBP

Ardagh Metal Packaging's stock has been downgraded from Buy to Neutral by B of A Securities, which also lowered its price target from $5 to $4. This has resulted in the company's shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 3:45 pm

AAPL

Apple Inc. (AAPL) reached a $3 trillion market valuation again on June 30th, closing at $193.97 per share, surpassing the required stock price of $190.73. The company's stock price has grown by over 45% this year, indicating a strong financial year ahead. However, the stock price is currently undergoing a pullback towards the 20 SMA at $186.93. The company's next major milestone is hindered by the $200 round number, which holds immense psychological significance.

Portfolio Pulse from Zaheer Anwari

July 10, 2023 | 3:44 pm

MELI

Bank of America Securities has downgraded MercadoLibre's stock from Buy to Neutral and reduced its price target from $1680 to $1350. This has led to a decrease in MercadoLibre's share price.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 3:43 pm

AAN

Loop Capital has downgraded Aarons Holdings from Buy to Hold, causing the company's shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 3:42 pm