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SPY

The NFIB Small Business Optimism index for June came in at 91.0, higher than the estimated 89.9 and the previous month's 89.4.

Portfolio Pulse from Charles Gross

July 11, 2023 | 10:07 am

ABNB

ADBE

IEP

JPM

WFC

The S&P 500 settled higher on Monday after a 1.2% loss last week due to the addition of 209,000 jobs in June. Icahn Enterprises L.P. (NASDAQ:IEP) shares gained over 20% after Carl Icahn amended loan agreements. Big banks such as JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), and Wells Fargo & Company (NYSE:WFC) will release earnings on Friday. The Nasdaq 100 rose 0.06% despite losses in shares of Adobe Inc (NASDAQ:ADBE) and Airbnb Inc (NASDAQ:ABNB). The CBOE Volatility Index (VIX) rose 1.6%.

Portfolio Pulse from Lisa Levin

July 11, 2023 | 9:46 am

Piper Sandler analyst Thomas Champion has upgraded Zillow Gr (NASDAQ:ZG) from Neutral to Overweight and raised the price target from $42 to $62.

Portfolio Pulse from richadhand@benzinga.com

July 11, 2023 | 9:23 am

PSMT

PriceSmart Inc reported a Q3 FY23 revenue increase of 6.4% Y/Y to $1.097 billion, slightly missing the consensus of $1.100 billion. Net merchandise sales rose 7.1% Y/Y to $1.07 billion. Adjusted EBITDA stood at $63.2 million vs. $51.3 million a year ago. Adjusted EPS of $1.02 exceeded the consensus of $0.85. The company authorized a share buyback of up to $75 million in the quarter. PSMT shares closed lower by 5.06% at $73.00 after-hours on Monday.

Portfolio Pulse from Lekha Gupta

July 11, 2023 | 9:18 am

TFC

Jefferies analyst Ken Usdin has downgraded Truist Finl (NYSE:TFC) from Buy to Hold and lowered the price target from $37 to $32.

Portfolio Pulse from richadhand@benzinga.com

July 11, 2023 | 9:00 am

BTTX

The FDA has approved Better Therapeutics' AspyreRx, a prescription-only digital therapeutic treatment providing cognitive behavioral therapy to adult patients with type 2 diabetes. This has led to a rise in the company's stock.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 8:32 am

BYRN

CAMP

IOVA

VOXX

WDFC

CalAmp Corp. reported a loss for Q1 and issued a weak revenue forecast for Q2, causing its shares to fall 1.9%. Byrna Technologies is expected to post quarterly earnings of 1 cent per share on revenue of $12 million. Iovance Biotherapeutics priced its public offering of 20 million shares at $7.50 per share, leading to a 9.9% drop in its shares. WD-40 Company reported better-than-expected Q3 results and announced a 50 million share buyback program, causing its shares to gain 4.1%. VOXX International Corporation reported downbeat Q3 results, leading to a 12.8% dip in its shares.

Portfolio Pulse from Lisa Levin

July 11, 2023 | 8:16 am

ASHR

GLCN

The Shanghai Composite closed today's session at 3,221.37, up 0.55%, while the Shenzhen CSI 300 closed 0.65% higher at 3,869.49.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 8:07 am

AAPL

KeyBanc Capital Markets analyst, Brandon Nispel, has maintained an Overweight rating for Apple Inc. (AAPL) and increased the price target from $180 to $200, despite predicting a 19% quarter-over-quarter decline in U.S. hardware revenue for the June quarter. The analyst cites lukewarm consumer spending data and softness in Apple's indirect channel as reasons for the muted expectation. However, the bull case for the stock is due to excitement around new products and investors reaching for safety.

Portfolio Pulse from Shanthi Rexaline

July 11, 2023 | 8:00 am

BTCUSD

MSTR

Berenberg Capital Market has set a price target of $430 for MicroStrategy Inc (NASDAQ:MSTR), citing the company's extensive Bitcoin holdings as a key value driver. The firm anticipates that the upcoming Bitcoin halving event in 2024, which reduces the rate of new coin issuance by 50%, will likely boost MicroStrategy's prospects. However, the halving could negatively impact Bitcoin miners, particularly those operating with suboptimal efficiency or high costs.

Portfolio Pulse from Mehab Qureshi

July 11, 2023 | 7:35 am