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SPY

Federal Reserve Chairman Jerome Powell stated that it is too early to determine the full extent of banking turmoil-related credit tightening. He added that if there is a significant effect from credit tightening, it will be factored into future rate decisions. Powell also mentioned that there is not much progress on core PCE.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:59 pm

DIN

Wedbush analyst Nick Setyan downgraded Dine Brands Global Inc (NYSE:DIN) to Neutral from Outperform and reduced the price target to $65 from $80. Setyan is bearish on Applebee's and IHOP's below-consensus same-store sales (SSS) growth and lowered their growth estimates for Q2 and future years. The analyst also sees no sign of meaningful growth in share repurchases and believes management is prioritizing rebuilding cash.

Portfolio Pulse from Lekha Gupta

June 14, 2023 | 6:56 pm

SPY

Federal Reserve Chair Jerome Powell stated that when inflation flattens and softens, it will indicate that the tightening measures are working. By taking more time on tightening, the Fed aims to reduce the risk of going too far.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:56 pm

SPY

Federal Reserve Chair Jerome Powell stated that the central bank is moving towards a more moderate pace of interest rate hikes.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:54 pm

ALLO

Allogene Therapeutics' CFO Eric Schmidt is stepping down from his position, causing the company's stock to trade lower. Schmidt will remain with the company until August 2, 2023, to ensure an orderly transition. Allogene has initiated a search for a new CFO.

Portfolio Pulse from Ryan Gustafson

June 14, 2023 | 6:53 pm

SPY

Fed Chair Powell stated that he cannot predict the future of the Fed Funds Rate with high confidence, but acknowledged that they have moved closer to sufficiently restrictive levels. He also mentioned that the risks to inflation are to the upside.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:52 pm

SPY

Federal Reserve Chair Jerome Powell stated that the decision on interest rates in July will be based on three months' worth of data, considering all available information and the evolving economic outlook.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:49 pm

SPY

Fed Chair Powell stated that the speed of rate hikes is separate from the level of rates, and that the Fed is not far from its destination on Fed funds rates. He suggested it's reasonable to go slower as they approach the rates destination.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:47 pm

NEXT

NextDecade Corporation's stock is rallying 45% higher after announcing framework agreements with Global Infrastructure Partners and TotalEnergies for the development of the Rio Grande LNG project. GIP will become a majority investor in Phase 1, and TotalEnergies will hold a 16.67% stake.

Portfolio Pulse from Erica Kollmann

June 14, 2023 | 6:47 pm

SPY

Federal Reserve Chair Jerome Powell stated that any forecast about inflation decreasing this year will include a significant amount of housing disinflation. He also mentioned that housing services disinflation will be slower than expected.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:46 pm