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SUM

JP Morgan analyst Adrian Heurta has downgraded Summit Materials (NYSE:SUM) from Neutral to Underweight, while raising the price target from $32 to $37.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 9:32 am

PERI

Perion Network Ltd's shares are trading higher following the company's preliminary Q2 2023 results. The company expects to report revenues of $176.0 million, a 20% increase year-over-year, and adjusted EBITDA of $40.0 million, a 40% increase year-over-year. The company's incoming CEO, Tal Jacobson, attributes the positive results to the company's executional agility, technological innovation, and market fit. The company will announce its Q2 2023 financial results and an updated annual outlook on August 2, 2023.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 9:28 am

AFRM

Piper Sandler analyst Kevin Barker has downgraded Affirm Holdings (NASDAQ:AFRM) from Neutral to Underweight and set a price target of $11.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 9:26 am

META

Meta Platforms, Inc. (NASDAQ:META) has launched its Twitter clone, Threads, to mixed reviews. KeyBanc Capital Markets analyst Justin Patterson has raised the price target from $280 to $335, suggesting a potential 14% upside. Patterson believes that if Meta can capture at least one-third of Twitter’s U.S. audience or reach 50% of Facebook’s U.S.-Canada audience, it could increase KeyBanc’s 2024 revenue estimate by $800 million to $6.7 billion.

Portfolio Pulse from Shanthi Rexaline

July 06, 2023 | 8:45 am

CSIQ

UBS analyst Jon Windham has upgraded Canadian Solar (NASDAQ:CSIQ) from Neutral to Buy.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 8:38 am

META

Keybanc analyst Justin Patterson maintains an Overweight rating on Meta Platforms (NASDAQ:META) and raises the price target from $280 to $335.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 8:27 am

KRUS

LEVI

TRIB

VBIV

VMEO

Levi Strauss & Co., Vimeo, Inc., Kura Sushi USA, Inc., VBI Vaccines Inc., and Trinity Biotech plc are the stocks to watch heading into Thursday. Levi Strauss is expected to post quarterly earnings of 3 cents per share on revenue of $1.34 billion. Vimeo announced the departure of its CEO, Anjali Sud, and named Adam Gross as interim CEO. Kura Sushi is expected to have earned 13 cents per share on revenue of $49.57 million. VBI Vaccines announced the expansion of their hepatitis B partnership and a proposed public offering. Trinity Biotech is expected to report a quarterly loss of 6 cents per share on revenue of $18.50 million.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 8:18 am

UMC

United Microelectronics Corporation (UMC) reported a year-on-year sales decline of 23.24% for June 2023. The company's unaudited net sales for the month amounted to NT$19,056,484, compared to NT$24,825,649 in June 2022.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:13 am

PERI

Perion Network Ltd. (PERI) has announced preliminary results for Q2 2023, expecting a revenue of $176.0M, up 20% YoY, and an adjusted EBITDA of $40M, up 40% YoY. These figures exceed the consensus estimate of $169.88M for revenue.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:38 am

KRUS

LEVI

TRIB

Investor sentiment improved slightly according to the CNN Money Fear and Greed index, despite U.S. stocks closing lower on Wednesday. The Dow Jones and S&P 500 ended their three-session win streaks. Investors are awaiting earnings results from Levi Strauss & Co. (NYSE:LEVI), Trinity Biotech plc (NASDAQ:TRIB) and Kura Sushi USA, Inc. (NASDAQ:KRUS).

Portfolio Pulse from Lisa Levin

July 06, 2023 | 6:59 am