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WFC

Raymond James has maintained its Strong Buy rating for Wells Fargo (NYSE:WFC) and increased its price target from $48.00 to $51.00. Wells Fargo's shares are currently trading up 1.53% at $43.34 per share. A move to $51.00 would represent a 17.69% increase from the current share price.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 5:00 pm

CRM

MSFT

Microsoft Corp (NASDAQ:MSFT) stock is trading lower following reports of an EU investigation into the company's practices. The tech giant has previously faced penalties for breaching EU competition rules, including product bundling. The company's integration of Teams into its Office product has been a point of contention, with rival Slack alleging unfair practices. Microsoft has attempted to stave off investigation by offering to cut the price of its Office product without Teams, but the European Commission reportedly seeks a deeper price cut.

Portfolio Pulse from Anusuya Lahiri

July 03, 2023 | 4:58 pm

HII

Huntington Ingalls Industries, Inc. (NYSE:HII) has successfully completed sea trials for the U.S. Coast Guard's newest national security cutter, Calhoun (WMSL 759). The company has delivered nine legend-class national security cutters to the Coast Guard. However, Ingalls Shipbuilding revenues for the first quarter of 2023 were $577 million, a decrease of 8.6% from the same period in 2022, primarily due to lower revenues in amphibious assault ships and the Legend-class National Security Cutter (NSC) program. HII shares are trading higher by 0.53% to $228.79.

Portfolio Pulse from Nabaparna Bhattacharya

July 03, 2023 | 4:51 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher after Cboe Global Markets, Inc. refiled Bitcoin (CRYPTO: BTC) ETF proposals and indicated it would work with Coinbase to prevent market manipulation. Cboe resubmitted an application with the SEC seeking approval for a Bitcoin ETF managed by Fidelity Investments. Coinbase shares are trading more than 10% higher on heavy volume with more than 18 million shares traded already on Monday.

Portfolio Pulse from Erica Kollmann

July 03, 2023 | 4:50 pm

TSM

A significant amount of unusual options activity has been observed for Taiwan Semiconductor (NYSE:TSM), with a mix of bullish and bearish stances. The majority of the trades are bearish, with whales targeting a price range from $85.0 to $110.0 over the last 3 months. The current price of TSM is up 1.8% at $102.74. Susquehanna maintains a positive rating on TSM with a price target of $128.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 4:48 pm

VALE

A significant bearish stance has been taken on Vale (NYSE:VALE) by a large investor or institution, as indicated by a large position in options. The overall sentiment of these big-money traders is 80% bearish and 20% bullish. The whales have been targeting a price range from $12.0 to $18.0 for Vale over the last 3 months. The price of VALE is currently up 3.02% at $13.82.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 4:48 pm

MELI

A large investor has taken a bullish stance on MercadoLibre (NASDAQ:MELI), with 13 uncommon options trades spotted. The sentiment of these trades is split between 53% bullish and 46% bearish. The whales have been targeting a price range from $1060.0 to $1330.0 for MercadoLibre over the last 3 months. Citigroup has maintained their Buy rating on MercadoLibre, with a price target of $1500.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 4:48 pm

ABNB

Airbnb shares are trading higher without any company-specific news driving the increase.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 4:47 pm

FUTU

Shares of Futu Holdings Ltd (NASDAQ:FUTU) are trading higher by 5.79% to $42.04 ahead of U.S. Treasury Secretary Janet Yellen's upcoming visit to China. Yellen's visit is expected to focus on securing national security interests, fostering mutually beneficial growth, and cooperating on global challenges like climate change and debt distress.

Portfolio Pulse from Henry Khederian

July 03, 2023 | 4:44 pm

LHX

L3Harris Technologies, Inc (NYSE:LHX) is reportedly planning to sell its avionics business, which could fetch about $1 billion. The avionics unit makes electronic systems for commercial and military aircraft. This move follows the company's trend of selling non-core assets. L3Harris shares are trading higher by 1.06% at $197.85.

Portfolio Pulse from Anusuya Lahiri

July 03, 2023 | 4:44 pm