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QSR

THCH

TH International has opened its 700th store in China, marking a significant milestone in its expansion in the country. The company is also expanding its presence in China's northwest region.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:54 am

BIIB

ESALF

The FDA has granted traditional approval to Biogen and Eisai for LEQEMBI, a treatment for Alzheimer's disease. This approval could potentially boost the companies' revenues and stock prices.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:42 am

IMBI

IMBIL

iMedia Brands has received a delisting notice from Nasdaq following its Chapter 11 bankruptcy filing. The company's stocks, listed under the symbols IMBI and IMBIL, may be affected by this development.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:27 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a drop following the release of the U.S. ADP private employment report. The report revealed an addition of 497,000 private-sector jobs in June, surpassing the consensus forecast of 220,000. This led to concerns about the state of the economy and the trajectory of interest rates, causing a decline in stocks. Analysts suggest that a rally in Bitcoin could follow if the SEC approves a spot-Bitcoin ETF in the US.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 3:50 am

BIIB

META

PWM

RIVN

TSLA

US stocks traded lower with the Nasdaq Composite dropping over 100 points. Prestige Wealth Inc announced the pricing of its IPO of 1,000,000 ordinary shares at $5.00 per share. Rivian Automotive is facing a lawsuit alleging it deceived shareholders during its 2021 IPO. Meta Platforms launched a new social platform, Threads, to compete with Twitter. Tesla shares are trading lower amid market weakness and concerns over rate hikes. Biogen received FDA approval for Leqembi for treating Alzheimer’s Disease.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 12:27 am

BLK

JPM

SPY

WFC

The market is anticipating the impacts of a strong jobs report on inflation, with expectations of higher rates and no cuts in 2023 due to core inflation. The Federal Reserve's slow rate increases are seen as insufficient to curb high prices. The market is also bracing for potential aggressive rate hikes if employment remains high. The upcoming CPI release and the start of the earnings season could trigger market movements. JPMorgan, Wells Fargo, Blackrock, and Citibank are set to report earnings on July 14th. The SPY ETF's performance is being closely watched, with its price overdue to break beneath the 20 Day SMA.

Portfolio Pulse from Joe Benjamin

July 07, 2023 | 12:13 am

CAVA

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) is closing all five of its Pizzeria Locale restaurants in Colorado, a test concept that had been operating since 2013. The company did not provide specific reasons for the closure. Chipotle's stock traded lower on Thursday, closing down 1.29% at $2,093.37, amid overall market weakness. The company will report earnings on July 26. CAVA Group Inc (NYSE:CAVA), a company with a similar model to Chipotle, went public last month and is currently valued at around $4 billion.

Portfolio Pulse from Aaron Bry

July 06, 2023 | 10:12 pm

MNK

Mallinckrodt is in talks to reduce its opioid settlement payments to as low as $200 million, potentially cutting the settlement by up to $1 billion, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

July 06, 2023 | 9:32 pm

CARA

ITHUF

TCNNF

VFF

XXII

The cannabis sector experienced a bearish sentiment on July 6, 2023. iAnthus Capital Hldgs and Trulieve Cannabis shares closed up 8.80% and 3.29% respectively. However, several cannabis stocks including 22nd Century Group, Village Farms Intl, Cara Therapeutics, Canopy Gwth, SNDL, Tilray Brands, Cresco Labs, GrowGeneration, Cronos Group, OrganiGram Holdings, and Aurora Cannabis closed down.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:30 pm

LEVI

Levi Strauss CFO has announced a lowering of the company's outlook due to softer U.S. wholesale trends, as revealed in a conference call.

Portfolio Pulse from Charles Gross

July 06, 2023 | 9:29 pm