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AT&T has addressed concerns about lead exposure, asserting that it has maintained a safe working environment for decades. The company clarified that less than 10% of its footprint is lead-sheathed, and a small minority will need to be removed. The cost of removal is not expected to exceed $20k per mile, with the total exposure estimated to be between $2 billion and $20 billion. The company's shares traded higher by 8.36% following the announcement. However, AT&T has been downgraded to Hold from Buy by Argus analyst Joseph Bonner due to potential environmental risks.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 5:47 pm

NKLA

Nikola Corp's shares are trading lower by 1.98% to $2.47, potentially due to profit-taking after a 79% rally over the past five sessions. The stock's recent strength is attributed to its popularity among high short interest stocks. Nikola's stock surged last week following the announcement of an agreement with BayoTech, which includes the acquisition of up to 50 Nikola Class 8 fuel cell electric vehicles over five years.

Portfolio Pulse from Henry Khederian

July 19, 2023 | 5:46 pm

WAL

Wedbush has maintained an Outperform rating on Western Alliance Bancorporation and raised its price target from $45 to $50. This has led to a rise in the trading of Western Alliance Bancorporation shares.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:45 pm

CNFR

FANH

HALL

LMND

During Wednesday's intraday session, insurance stocks saw significant movement. Gainers included Lemonade (LMND), Conifer Holdings (CNFR), Marpai (MRAI), Conifer Holdings, Inc. - Senior Unsecured Notes (CNFRL), Reliance Global Group (RELI), and Trupanion (TRUP). Losers included Hallmark Financial Servs (HALL), Fanhua (FANH), Crawford (CRD), Vericity (VERY), Kingsway Financial Servs (KFS), and Waterdrop (WDH).

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 5:40 pm

MSFT

MVIS

The U.S. Army has confirmed that Microsoft is on track to deliver improved goggles. Traders are speculating that MicroVision is a partner on the contract, causing its shares to spike higher.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 5:40 pm

GLBE

SHOP

Morgan Stanley analyst James Faucette has downgraded Global-E Online Ltd (NASDAQ:GLBE) from Overweight to Equal-Weight and raised the price target from $38 to $45. The analyst believes that the market has adequately anticipated the likely growth rates for '23 and '24, and built those expectations into valuation. The analyst also noted a reduction in bear concerns around GLBE, particularly since GLBE has acquired competitors and its relationship with Shopify Inc. (NYSE:SHOP) has become more durable.

Portfolio Pulse from Shivani Kumaresan

July 19, 2023 | 5:38 pm

BAC

COIN

EWBC

FHN

JPM

KEY

TFC

USB

Benzinga's options activity scanner has identified significant options activity in the financial sector. The stocks involved include Bank of America (BAC), U.S. Bancorp (USB), JPMorgan Chase (JPM), Morgan Stanley (MS), East West Bancorp (EWBC), KeyCorp (KEY), First Horizon National (FHN), Goldman Sachs (GS), Truist Financial (TFC), and Coinbase Global (COIN). The options activity ranges from bullish to bearish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 5:35 pm

AAPL

AMD

APPS

IBM

MSFT

NET

NVDA

ORCL

PLTR

TSM

The article reports on significant options activity in the Information Technology sector. The stocks mentioned include Apple (AAPL), Nvidia (NVDA), Palantir (PLTR), Microsoft (MSFT), Oracle (ORCL), Advanced Micro Devices (AMD), Taiwan Semiconductor Manufacturing (TSM), Cloudflare (NET), Digital Turbine (APPS), and IBM. The article provides details on the type of options activity (call or put), the sentiment (bullish, bearish, or neutral), the expiration date, the strike price, and the total trade price.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 5:35 pm

AMRN

APVO

AQMS

BDRX

CVNA

PBLA

SEV

SMX

The article lists the stocks that have gained and lost the most in Wednesday's mid-day session. Among the gainers, Biodexa Pharmaceuticals, SMX, Carvana, and Panbela Therapeutics saw significant increases due to various reasons such as patent allowances, better-than-expected sales, and asset divestitures. Among the losers, Sono Group, Amarin Corporation, Aqua Metals, and Aptevo Therapeutics saw significant decreases due to reasons such as delisting notices, organizational restructuring, and public offerings.

Portfolio Pulse from Lisa Levin

July 19, 2023 | 5:34 pm

TMDX

William Blair initiated coverage on TransMedics Group Inc (TMDX) with an Outperform rating. The analyst notes that TMDX shares trade at a premium to the peer group, which is justified by the company's growth and margin profile. TransMedics has a clear leadership position in the organ transplant market, estimated at $7.5 billion, and its solution could become the industry standard. Despite a 3.56% drop in TMDX shares to $92.65, the analyst expects robust long-term cash flows due to solid gross margin profiles and compelling long-term scale economies.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 5:34 pm