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The Federal Reserve's 2023 stress tests showed that all 23 large U.S. banks have sufficient capital to absorb hypothetical losses of $540 billion in a severely adverse scenario. However, concerns remain over the vulnerability of certain banks to a collapse in the commercial real estate (CRE) market and unrealized fixed income losses. Goldman Sachs, Morgan Stanley, Citizens Financial Group, Northern Trust, and Deutsche Bank are among the most vulnerable to a CRE collapse. Bank of America is facing significant paper losses due to its decision to invest pandemic-era deposit inflows into debt markets.

Portfolio Pulse from Piero Cingari

June 29, 2023 | 3:38 pm

BNTX

BioNTech Inc.'s (NASDAQ:BNTX) shares are currently trading at $107.16, after a 0.24% increase. Over the past month, the stock has risen by 2.91%, but it has decreased by 31.97% over the past year. The company's P/E ratio of 3.81 is lower than the Biotechnology industry average of 50.29, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

June 29, 2023 | 3:33 pm

TJX

TJX Companies (NYSE:TJX) has outperformed the market over the past 15 years, producing an average annual return of 17.11%. If an investor had bought $1000 of TJX stock 15 years ago, it would be worth $10,655.14 today. The company currently has a market capitalization of $95.62 billion.

Portfolio Pulse from Benzinga Insights

June 29, 2023 | 3:31 pm

OKE

ONEOK (NYSE:OKE) has outperformed the market over the past 20 years by 1.82% on an annualized basis, producing an average annual return of 9.41%. If an investor had bought $100 of OKE stock 20 years ago, it would be worth $599.80 today.

Portfolio Pulse from Benzinga Insights

June 29, 2023 | 3:30 pm

MU

A significant number of call options for Micron Technology (MU) with a strike price of $70, expiring on September 15, were purchased near the ask price. The volume of these options was 1095, compared to an open interest of 6109. The reference price for MU was $64.96.

Portfolio Pulse from Charles Gross

June 29, 2023 | 3:30 pm

SPCE

Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares are experiencing volatility as the company prepares for its first commercial space launch, 'Galactic 01'. The company's shares have been fluctuating throughout June, rising with the announcement of the expected commercial spaceflight and falling after the announcement of a $400 million at-the-market stock offering. At the time of publication, Virgin Galactic shares are trading 2.24% lower at $4.63.

Portfolio Pulse from Erica Kollmann

June 29, 2023 | 3:27 pm

KGS

Kodiak Gas Services' initial public offering (IPO) is indicating a price of $15.90-$16 per share. The IPO was priced at $16 per share on 16 million shares.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:25 pm

FIHL

Fidelis Insurance Holdings' IPO is indicating a price of $13 per share, which is lower than the initially expected range of $16-$19 per share for 17 million shares.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:25 pm

SVV

Savers Value Village's IPO is indicating a price of $25 per share, which is significantly higher than its initial pricing of $18 per share on approximately 22.3 million shares.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:24 pm

DIA

IWM

SPY

Major indexes have risen following better-than-expected GDP and initial jobless claims data. The Fed's stress test also revealed that all 23 banks tested remained above minimum capital requirements during a hypothetical recession.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 3:24 pm