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ENPH

Enphase Energy, Inc. (NASDAQ:ENPH) announced that its cloud-based design and proposal software platform, Solargraf, is now available in Brazil. The company also received a price target change from Morgan Stanley analyst Andrew Percoco, who maintained an Equal-Weight rating but lowered the price target from $268 to $234. Shares of ENPH were up 5.95% at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 17, 2023 | 5:58 pm

WDC

Western Digital Corp (NASDAQ:WDC) is reportedly planning to merge with Kioxia in a tax-free spinoff of its flash business. The combined company, which would be headquartered in Japan and trade on the NASDAQ, could challenge Samsung for NAND share leadership. The merger could result in a combined loss of $2.67 billion over the current and prior quarters. However, there could be significant synergistic savings and a return to profitability depending on the degree of these savings. WDC shares traded lower by 1.40% at $39.11 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 5:56 pm

GORO

H.C. Wainwright analyst Heiko F. Ihle reiterated a Buy rating on Gold Resource Corporation (GORO), increasing the price target to $3.25 from $3.00. This comes after GORO announced a 33% Y/Y decrease in 2Q23 production results. Despite the decline, the company maintains its 2023 guidance of 30,000 – 31,000 gold equivalent ounces. The analyst expects GORO's ongoing exploration focus and new zone of mineralization to contribute to future operational results. GORO shares are trading higher by 9.9%.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 5:54 pm

FORR

Barrington Research analyst has reiterated an Outperform rating on Forrester Research Inc (NASDAQ:FORR) with a price target of $32. The analyst expects Forrester to report 2Q23 non-GAAP EPS of $0.61, a 61% Y/Y decline, and less than the FactSet consensus forecast of $0.73. The analyst also expects Forrester to report 2Q23 adjusted EBITDA of $19.1 million and revenue of $126.4 million, both less than the FactSet consensus forecast. The company's weak research subscription bookings in 1Q were due to economic headwinds, client losses, and longer sales cycles for Forrester Decisions, the company’s new research platform.

Portfolio Pulse from Shivani Kumaresan

July 17, 2023 | 5:53 pm

CORN

SOYB

WEAT

The United Nations has given the green light for the final grain corridor ship from Ukraine to proceed. This could potentially impact the prices of grain-related ETFs.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 5:52 pm

CVS

A significant bullish stance has been taken on CVS Health (NYSE:CVS) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 76% bullish and 23% bearish. The whales have been targeting a price range from $60.0 to $87.5 for CVS Health over the last 3 months. Several financial institutions have maintained their positive ratings on CVS Health, with price targets ranging from $88 to $106.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 5:47 pm

BBY

COST

KSS

TGT

The U.S. Department of Commerce's June Retail Sales report is expected to show a 1.1% year-over-year dip and a 0.5% month-over-month increase. Auto industry sales surged 21% to 1.38 million units in June, marking the third-highest sales pace this year. Nonfarm payrolls rose 209,000, missing expectations of 225,000. Retail stocks have shown mixed performance, with Costco, Best Buy, and Kohl's gaining, while Target fell.

Portfolio Pulse from AJ Fabino

July 17, 2023 | 5:43 pm

PLTR

Shares of Palantir Technologies Inc (NYSE:PLTR) are trading higher, adding to gains of over 95% in the last three months. The rally is driven by optimism surrounding the future of AI, with Palantir reporting strong demand for its new AI platform. The company's shares accelerated in May after better-than-expected quarterly results and guidance for continued profitability in 2023. Palantir's CEO reiterated the high demand for its AI products at the company's first AIPCon in June.

Portfolio Pulse from Adam Eckert

July 17, 2023 | 5:42 pm

ACGL

ACGLN

AFGB

AIZN

BHG

LMND

MHLA

PGR

TIRX

TRUP

UIHC

Insurance stocks showed mixed performance in Monday's intraday session. Lemonade, Trupanion, F&G Annuities & Life, Arch Capital Group, Progressive, and United Insurance Holdings were the gainers, while Maiden Holdings, Tian Ruixiang Holdings, American Financial Group, Arch Capital Group, Assurant, and Bright Health Gr were the losers.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 5:40 pm

BFAM

BMO Capital Markets analyst Jeffrey M. Silber has downgraded Bright Horizons Family Solutions Inc (NYSE:BFAM) to Market Perform from Outperform with a price target of $99. Silber believes that consensus estimates for 2024 may be too high due to government funding roll-off headwinds. He expects BFAM to recover from the pandemic but thinks the stock may have gotten ahead of itself. Silber estimates adjusted EPS of $2.68 in 2023 vs. consensus of $2.83 and BFAM's guidance of $2.80-$3.00. BFAM shares are trading lower by 3.13% at $92.75.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 5:36 pm