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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

LEVI

Levi Strauss CFO has stated that the latter half of the year will benefit from incremental phase drivers and margin tailwinds due to lower product costs and freight, laying a solid foundation for the next year.

Portfolio Pulse from Charles Gross

July 06, 2023 | 9:22 pm

GORO

Gold Resource Corporation (GORO) has stated that it is unaware of the reason behind the recent volatility in its stock price. The company confirmed that there is no material corporate development relating to its business and affairs that has not been previously announced.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:17 pm

BIIB

The U.S. FDA has granted traditional approval to Leqembi (lecanemab), a drug for treating Alzheimer's Disease, developed by Eisai Inc. and Biogen Inc. Eisai and Biogen have been collaborating on the development and commercialization of Alzheimer's treatments since 2014. Biogen's shares were flat in Thursday's after-hours session after falling marginally by 0.31% to $284.99 during regular trading.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 9:08 pm

LEVI

Levi Strauss & Co's Q2 revenue decreased 9% YoY to $1.337 billion, narrowly missing the consensus estimate of $1.34 billion. The company reported quarterly adjusted earnings of 4 cents per share, beating analyst estimates of 3 cents per share. Inventories increased 18% YoY, and the company ended the quarter with $472 million in cash and equivalents, and total liquidity of $1.3 billion. Levi expects full-year 2023 net revenues to grow between 1.5% and 2.5%, and earnings to be between $1.10 and $1.20 per share. The company's shares were down 7.10% after hours.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 9:02 pm

GXO

Over the last quarter, GXO Logistics (NYSE:GXO) has received 10 analyst ratings, with 2 being bullish and 8 somewhat bullish. The average price target for GXO is $65.1, which is higher than its current price of $61.41. This average price target has increased by 7.11% from the previous average of $60.78.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:01 pm

PRA

ProAssurance (NYSE:PRA) has received four somewhat bullish ratings and one indifferent rating from analysts in the last quarter. The average 12-month price target for the stock is $20.2, which has increased by 12.22% over the past month.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:00 pm

SPT

In the last quarter, Sprout Social (NASDAQ:SPT) received 8 analyst ratings, with 4 being bullish, 2 somewhat bullish, and 2 indifferent. The company's average 12-month price target is $61.0, a 16.81% decrease from the previous average of $73.33.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:00 pm

RIVN

Rivian Automotive (NASDAQ:RIVN) has received mixed analyst ratings in the last quarter, with 5 bullish, 2 somewhat bullish, 7 indifferent, and 1 somewhat bearish. The average price target is $21.47, slightly below the current price of $21.62, indicating a potential downside. This average has decreased by 19.56% from the previous average price target of $26.69.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:00 pm