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Stock Prices

LYFT

Lyft shares are trading lower due to overall market weakness caused by concerns over rate hikes.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:32 pm

EDTX

Shares of EdtechX (EDTX) are trading higher on strong volume without any apparent news to justify the price action.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:23 pm

DVN

A significant bullish stance has been taken on Devon Energy (NYSE:DVN) by a large investor, as indicated by a large position in the company's options. The sentiment among these big-money traders is split evenly between bullish and bearish. The whales have been targeting a price range from $37.5 to $57.5 for Devon Energy over the last 3 months. The price of DVN is currently down -2.2% at $47.44. Several experts have given their opinions on Devon Energy, with price targets ranging from $58 to $71.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:17 pm

PFE

A significant bullish stance has been taken on Pfizer (NYSE:PFE) by a large investor, as observed in the publicly available options history. The overall sentiment of these big-money traders is split between 56% bullish and 43% bearish. The whales have been targeting a price range from $22.5 to $43.0 for Pfizer over the last 3 months. Currently, PFE's price is down -1.95% at $35.75. Cantor Fitzgerald and Credit Suisse have downgraded their actions on Pfizer with price targets of $75 and $40 respectively.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:17 pm

NKLA

Nikola Corp (NASDAQ:NKLA) shares are trading lower by 6.29% amid overall market weakness on concerns over further rate hikes. The company has rallied 148% over the past month after regaining Nasdaq listing compliance. However, higher interest rates could exacerbate cost differentials, making hydrogen electric vehicles less attractive due to potentially higher financing costs, which could impact the demand for Nikola's vehicles.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 7:12 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) is trading lower by 3.14% amid overall weakness in cryptocurrencies. The altcoin may be trading lower in sympathy with the broader U.S. market following better-than-expected US jobs data, which could raise concerns over further rate hikes. Higher interest rates increase the opportunity cost of holding altcoins like Shiba Inu, which can negatively impact its price and liquidity.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 7:12 pm

RBLX

Roblox Corporation (NYSE:RBLX) shares are trading lower due to concerns over further Federal Reserve rate hikes, which have negatively impacted the wider tech sector. The overall market downturn is due to the increased likelihood of the Federal Reserve raising interest rates further this year. The ADP National Employment Report showed that U.S. private employers added 497,000 jobs in June, exceeding the estimated 220,000, leading to a 90% chance of a 0.25% interest rate hike in July.

Portfolio Pulse from Ryan Gustafson

July 06, 2023 | 7:11 pm

MMSI

Barrington Research analyst Michael Petusky has reiterated an Outperform rating on Merit Medical Systems, Inc. (MMSI) with a price target of $95. The company is expected to report 4%-6% revenue growth in 2Q 2023. Petusky expects Merit's peripheral intervention business to grow 9% Y/Y to $120.9 million, while the cardiac intervention is estimated to generate $92.3 million, up 3% Y/Y in 2Q. The analyst also expects Merit to continue affirming its multi-year growth plan foundations, generating at least $300 million in aggregate free cash flow in 2021, 2022, and 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 7:06 pm

SPY

The latest American Association of Individual Investors (AAII) Sentiment Survey shows a bullish undercurrent sweeping across the market, with optimism levels hitting their peak for 2023. The survey shows 46.4% of investors predicting rising stock prices over the next six months, a 4.5% jump from the previous week. The AAII's optimistic five-week streak is the longest seen since a similar five-week run in late 2021. The bull-bear spread, indicating the degree of optimism, widened by 7.4% to reach 21.9%, above its historical average of 6.4%.

Portfolio Pulse from AJ Fabino

July 06, 2023 | 7:06 pm

MTG

RBC Capital Markets analyst Scott Heleniak has downgraded MGIC Investment Corp (NYSE:MTG) to Sector Perform from Outperform with a price target of $17. The analyst believes MTG shares have reached fair value and anticipates increasing challenges in the housing market. Despite this, the company has improved its capital efficiency and risk management, and is expected to deliver strong earnings and shareholder returns in H2 2023 and 2024.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 7:03 pm