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VTNR

Oppenheimer analyst Noah Kaye has downgraded Vertex Energy, Inc (NASDAQ:VTNR) to Perform from Outperform due to an uncertain forecast and challenging commodity environment. Kaye has lowered FY23-24 revenue estimates and reduced FY23 sales/EPS estimates to $2.7 billion/$0.80, from $2.8 billion/ $1.41. For FY24, sales/EPS estimates have been lowered to $3.3 billion/$0.49 from $3.8 billion/$0.99.

Portfolio Pulse from Nabaparna Bhattacharya

July 26, 2023 | 6:53 pm

BANC

PACW

Banc of California and PacWest have announced a merger agreement, leading to a rise in the shares of community and regional bank stocks.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:52 pm

WPRT

H.C. Wainwright analyst Amit Dayal has reiterated a Buy rating on Westport Fuel Systems Inc (NASDAQ:WPRT), raising the price target to $30 from $7. This is due to the completion of the consolidation of its common shares and the signing of a non-binding letter of intent to establish a joint venture for the commercialization of the company's HPDI fuel system technology. The analyst projects the company's revenues to increase from $329.2 million in 2023 to $1.6 billion in 2033 at a ten-year CAGR of approximately 16.9%.

Portfolio Pulse from Nabaparna Bhattacharya

July 26, 2023 | 6:51 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that core inflation remains high, necessitating the maintenance of restrictive monetary policy. He also indicated that the Fed is prepared to raise rates further if deemed appropriate.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 6:51 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the worst outcome would be to not deal with inflation, according to Reuters. This statement could potentially impact the overall market, including the SPDR S&P 500 ETF (SPY).

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:50 pm

SPY

Federal Reserve Chair Jerome Powell has stated that core inflation remains elevated. This could potentially impact the broader market, including ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:49 pm

SPY

Federal Reserve Chair Jerome Powell has announced that the Fed will need to maintain its policy at restrictive levels for some time. This could potentially impact the overall market and ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:48 pm

FALN

KBWB

QQQE

XONE

A screening of small-cap ETFs revealed significant changes in net assets. Invesco KBW Bank ETF (KBWB) gained $411.89 million, with its largest holdings being Bank of America Corp (BAC) and Morgan Stanley (MS). BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) added $197.26 million. On the losing side, Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) lost $351.16 million, with its largest holdings being Sirius XM Holdings, Inc. (SIRI) and Old Dominion Freight Line, Inc. (ODFL). iShares Fallen Angels USD Bond ETF (FALN) lost $262.93 million.

Portfolio Pulse from Johnny Rice

July 26, 2023 | 6:46 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the significant decrease in headline inflation is a positive development. This statement could influence the market's perception of the Federal Reserve's future monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:46 pm

INZY

Inozyme Pharma Inc (NASDAQ:INZY) has updated its global development strategy for INZ-701, a treatment for ENPP1 Deficiency, following meetings with the FDA and the European Medicines Agency's Paediatric Committee. The company plans to initiate the ENERGY-3 pivotal trial in October 2023 and aims to commercially launch INZ-701 for infant and pediatric patients by the second half of 2026. The company's cash balance of $140.2 million is expected to provide a cash runway into the first quarter of 2025. INZY shares are down 11.40% at $5.47.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 6:45 pm