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LLY

MDGL

MRK

TERN

VKTX

Terns Pharmaceuticals Inc (TERN) shares lost over 25% of their value due to investor pressure following Eli Lilly And Co's (LLY) announcement of positive obesity data from retatrutide. Despite this, JMP Securities maintains that TERN shares are attractively priced ahead of 3Q23 key NASH data, reiterating its Market Outperform rating and a price target of $17. Other companies in the space, Madrigal Pharmaceuticals Inc (MDGL) and Viking Therapeutics Inc (VKTX), also saw their shares drop. Merck Co & Inc's (MRK) efinopegdutide data showed a 73% reduction in liver fat.

Portfolio Pulse from Vandana Singh

June 28, 2023 | 6:53 pm

MANU

Manchester United Ltd. (NYSE:MANU) shares are rising following a Bloomberg report suggesting the Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani has expressed confidence that it’s won the bidding war for the club. However, the selling Glazer family could still decide to keep the club. The sale of the football club moves into the critical summer months, and it remains unclear when a decision could be officially announced.

Portfolio Pulse from Ryan Gustafson

June 28, 2023 | 6:53 pm

WBA

Walgreens Boots Alliance Inc (WBA) reported weaker-than-expected Q3 profits and lowered its FY23 adjusted EPS guidance to $4.00-$4.05 from the previous $4.45 - $4.65. Analysts from Truist Securities, Mizuho Securities, and Raymond James maintain a cautious stance on the company, citing disappointing quarter results and a cautious macroeconomic forward view.

Portfolio Pulse from Vandana Singh

June 28, 2023 | 6:50 pm

EXTR

Oppenheimer analyst Timothy Horan initiated coverage on Extreme Networks, Inc. (EXTR) with a price target of $35, citing attractive valuation and strong growth potential. Horan believes EXTR is well-positioned as an enterprise Edge Cloud and AI beneficiary and expects solid annual top-line revenue growth in the mid-to-high teens over the next several years. However, he also warns of potential supply chain issues, particularly prolonged semiconductor chip shortages.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2023 | 6:48 pm

NET

Cloudflare Inc (NYSE:NET) has been maintained with an Outperform rating by Baird analyst Shrenik Kothari, who raised the price target from $59 to $64. The company showcased its commitment to speed and network efficiency at the recently concluded Speed Week. Cloudflare's strategy focuses on leveraging its efficient network to foster customer loyalty, minimize churn, and compete against security market leaders. The company also launched new products and demonstrated advancements in AI/ML.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:47 pm

A whale investor has taken a bullish stance on Sea (NYSE:SE), with 58% of investors opening trades with bullish expectations and 41% with bearish. The total amount for puts is $617,288 and for calls is $447,320. Whales have been targeting a price range from $40.0 to $85.0 for Sea over the last 3 months. The price of SE is currently down -0.35% at $57.14.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 6:47 pm

MRNA

A significant bullish stance on Moderna (NASDAQ:MRNA) has been observed, with unusual options activity involving large amounts of money. The overall sentiment of these big-money traders is split between 68% bullish and 31% bearish. Whales have been targeting a price range from $110.0 to $150.0 for Moderna over the last 3 months. UBS upgraded its action to Buy with a price target of $191.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 6:47 pm

ASTS

CGTX

JOBY

KLR

NERV

SONN

UNF

U.S. stocks traded mixed with the Dow Jones dropping around 100 points and NASDAQ rising 0.23%. Unifirst Corporation reported worse-than-expected Q3 earnings and issued FY23 EPS guidance below estimates. Energy shares jumped by 1% while utilities shares fell by 1.4%. Kaleyra, Minerva Neurosciences, and Joby Aviation saw their shares rise significantly. AST SpaceMobile, Sonnet BioTherapeutics, and Cognition Therapeutics saw their shares drop. Oil traded up 2.8% while gold traded down 0.1%.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 6:39 pm

RBLX

Needham analyst Bernie McTernan reiterated a Buy rating for Roblox Corp (RBLX) with a $48 price target. He spoke with 11 RBLX developers who indicated a more positive monetization environment compared to a year ago, with opportunities from immersive advertising, engagement-based payouts, and better analytics. However, they also noted challenges in building an audience for lower-quality games and standing out among older, more established games. None of the developers currently use AI tools, but two believe it will eventually play a significant role in game creation.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 6:37 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) was down over 4% on Wednesday, in line with the wider crypto sector, including Bitcoin and Ethereum. The downtrend is taking place within a falling channel pattern on the 24-hour chart, which is bearish for the short term but could be bullish in the future. The most recent lower high within the formation was created on Tuesday at $0.00000768 and the most recent confirmed lower low was printed at the $0.00000743 mark the day prior.

Portfolio Pulse from Melanie Schaffer

June 28, 2023 | 6:35 pm