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The S&P 500 settled lower following the release of the U.S. Federal Reserve's recent meeting minutes. U.S. factory orders rose less than expected, and the Philadelphia SE Semiconductor Index fell, with Intel Corporation shares losing over 3%. Meta Platforms shares gained in anticipation of the launch of its Threads platform. The Nasdaq 100 slipped slightly, with minor declines in shares of Apple Inc and NVIDIA Corp. The CBOE Volatility Index rose 3.5%.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 9:58 am

PERI

Perion Network reported preliminary results for Q2 of 2023 that exceeded street expectations, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:48 am

MULN

Mullen Automotive has hired a law group to investigate potential naked short selling of its shares. This news has led to an increase in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:42 am

META

Meta Platforms Inc. (NASDAQ:META) has unveiled its decentralized social media platform, Threads, which has already attracted over 7.5 million users. CEO Mark Zuckerberg has been actively engaging with users and taunting Elon Musk, who purchased Twitter for $44 billion last year. Despite the rivalry, it remains uncertain whether Threads can surpass Twitter's long-term popularity.

Portfolio Pulse from Ananya Gairola

July 06, 2023 | 9:42 am

HSTO

Histogen has decided to pause further development of its programs and commence exploring strategic alternatives. This decision has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:39 am

SUM

JP Morgan analyst Adrian Heurta has downgraded Summit Materials (NYSE:SUM) from Neutral to Underweight, while raising the price target from $32 to $37.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 9:32 am

PERI

Perion Network Ltd's shares are trading higher following the company's preliminary Q2 2023 results. The company expects to report revenues of $176.0 million, a 20% increase year-over-year, and adjusted EBITDA of $40.0 million, a 40% increase year-over-year. The company's incoming CEO, Tal Jacobson, attributes the positive results to the company's executional agility, technological innovation, and market fit. The company will announce its Q2 2023 financial results and an updated annual outlook on August 2, 2023.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 9:28 am

AFRM

Piper Sandler analyst Kevin Barker has downgraded Affirm Holdings (NASDAQ:AFRM) from Neutral to Underweight and set a price target of $11.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 9:26 am

META

Meta Platforms, Inc. (NASDAQ:META) has launched its Twitter clone, Threads, to mixed reviews. KeyBanc Capital Markets analyst Justin Patterson has raised the price target from $280 to $335, suggesting a potential 14% upside. Patterson believes that if Meta can capture at least one-third of Twitter’s U.S. audience or reach 50% of Facebook’s U.S.-Canada audience, it could increase KeyBanc’s 2024 revenue estimate by $800 million to $6.7 billion.

Portfolio Pulse from Shanthi Rexaline

July 06, 2023 | 8:45 am

CSIQ

UBS analyst Jon Windham has upgraded Canadian Solar (NASDAQ:CSIQ) from Neutral to Buy.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 8:38 am