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AAPL

MASI

Wells Fargo initiated coverage on Masimo Corporation (MASI) with an Equal Weight rating and a price target of $173. The analyst is optimistic about the Healthcare business and sees potential upside from new Consumer Health products in 2024 and beyond. However, concerns about the proxy overhang and litigation risk from Apple Inc (AAPL) are keeping them on the sidelines. Politan Capital Management, which owns a 9% stake in Masimo, has signaled interest in joining the board, a move that could result in MASI separating the Sound United business.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 7:15 pm

QQQ

SPY

The Federal Reserve Bank of New York's survey shows that short-term consumer inflation expectations have dropped to the lowest point since April 2021. However, the outlook for inflation over the next five years has risen to its highest since March 2020. The stock market recovered its session losses, with the SPDR S&P 500 ETF Trust (NYSE:SPY) and the QQQ Invesco Trust (NASDAQ:QQQ) showing slight improvements.

Portfolio Pulse from Piero Cingari

July 10, 2023 | 7:11 pm

FTNT

Shares of Fortinet, Inc. (NASDAQ:FTNT) are trading higher after Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $77 to $84. The stock has rallied over 25% since the start of the year and over 17% in the past three months. The company will hold a conference call on August 3 to discuss its Q2 2023 financial results.

Portfolio Pulse from Ryan Gustafson

July 10, 2023 | 7:10 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 2.25% to $126.86, despite no company-specific news. The drop is potentially due to investors awaiting Wednesday’s inflation report. Amazon has otherwise seen a 48% increase on a year-to-date basis due to interest in tech and AI-related stocks. The company's leadership in cloud services and AI solutions has contributed to its strength.

Portfolio Pulse from Henry Khederian

July 10, 2023 | 7:07 pm

BLK

Keefe, Bruyette & Woods analyst Michael Brown has upgraded BlackRock Inc (NYSE:BLK) to Outperform from Market Perform, raising the price target from $770 to $835. Brown is bullish on BLK's organic growth and profitability, and believes the high-interest rate environment and the shift to outsourcing will benefit the company. He also sees opportunities for international expansion and enhancement of the private asset platform.

Portfolio Pulse from Lekha Gupta

July 10, 2023 | 7:07 pm

AAPL

Apple Inc's shares are trading lower by 1.19% to $188.42, potentially due to investors awaiting Wednesday’s inflation report. The company has seen a year-to-date increase in its trading value of approximately 50.65%, attributed to interest in technology and AI-related stocks. Apple's integration of AI technology into its products and services could attract investors. The June CPI inflation report is anticipated as a significant economic event, with traders awaiting its release for insights into the Fed's future policy decisions.

Portfolio Pulse from Henry Khederian

July 10, 2023 | 7:06 pm

SNOW

A significant bullish stance has been taken on Snowflake (NYSE:SNOW) by a large investor or institution, as indicated by a large position in the company's options. The sentiment among these big-money traders is split, with 55% bullish and 44% bearish. The price target for Snowflake, based on the volume and open interest of these contracts, ranges from $120 to $250. Several financial institutions, including Goldman Sachs, JMP Securities, Mizuho, Needham, and Barclays, have maintained their positive ratings on Snowflake.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 7:06 pm

SQ

A significant investor has taken a bearish stance on Block (NYSE:SQ), with 57% of the detected trades being bearish. The trades include 8 puts amounting to $349,996 and 13 calls amounting to $806,596. The whales have been targeting a price range from $55.0 to $80.0 for Block over the last 3 months. The price of SQ is currently up 2.32% at $68.83, and the next earnings are expected in 24 days.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 7:06 pm

INTA

BTIG has initiated coverage on Intapp with a Buy rating and a price target of $55. This has led to an increase in Intapp's stock price.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 7:05 pm

ADBE

ADSK

APP

BILL

DDOG

RNG

TEAM

ZM

Shares of software stocks are trading higher amid overall market strength. The stocks mentioned include ADBE, ADSK, APP, BILL, DDOG, RNG, TEAM, ZM.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 7:05 pm