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ZBH

Zimmer Biomet Holdings announced leadership changes, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 4:50 pm

MMM

ZBH

3M Co has filled several leadership positions for its independent healthcare company post-spin-off. Bryan C. Hanson, former president and CEO of Zimmer Biomet Holdings Inc, has been named CEO, and Monish Patolawala has been named president and CFO. Both appointments are effective from September 1. Last year, 3M announced its intention to spin off its Health Care business, which generated revenues of $8.4 billion in 2022.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 4:39 pm

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DKS

FRBK

FULC

SIDU

US stocks traded mixed with the Dow Jones falling over 100 points while the NASDAQ and S&P 500 rose. Existing-home sales in the US fell 2.2% from a month ago. Fulcrum Therapeutics, Fabrinet, and Sidus Space saw their shares rise after positive news. Republic First Bancorp, DICK'S Sporting Goods, and Dragonfly Energy Holdings saw their shares drop due to negative news.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 4:36 pm

BIDU

A significant investor has taken a bearish stance on Baidu (NASDAQ:BIDU), with 58% of recent trades being bearish and 41% bullish. The total amount for puts was $81,720 and for calls was $526,548. The targeted price range for Baidu over the last 3 months has been $60.0 to $145.0. The current price of BIDU is up 3.47% at $129.26. The next earnings are expected to be released imminently.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 4:31 pm

HKD

AMTD Digital has announced a $30 million share repurchase program, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 4:30 pm

ANET

Josh Brown, a renowned investor, has purchased shares in Arista Networks, as reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 4:10 pm

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CLVT

HRB

JLL

KMPR

META

MSFT

NVDA

OXY

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THC

WMT

Goldman Sachs has revealed a list of 50 stocks that are expected to see substantial long-term growth due to the adoption of artificial intelligence (AI). The list includes companies from the Russell 1000 index that are expected to benefit significantly from AI integration. The bank's analysis suggests that the median stock in their basket could see a 72% increase in earnings per share (EPS) following widespread AI adoption, compared to a 19% rise for the median stock in the Russell 1000 index.

Portfolio Pulse from Piero Cingari

August 22, 2023 | 4:02 pm

FDX

A significant bearish stance on FedEx (NYSE:FDX) has been observed through unusual options activity. The sentiment among big-money traders is split between 27% bullish and 72% bearish. Whales have been targeting a price range from $240.0 to $280.0 for FedEx over the last 3 months. The price of FDX is currently down -0.42% at $258.85. Stephens & Co. downgraded its action to Overweight with a price target of $290.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 4:01 pm

FXI

SPY

White House's Sullivan has noted a reduction in the level of transparency in reporting on the Chinese economy in recent months, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 3:46 pm

VFS

Shares of Vietnamese EV maker VinFast Auto Ltd (NASDAQ:VFS) have been extremely volatile since its debut on the Nasdaq last week. The company's shares surged approximately 270% in its first day of trading before pulling back. The volatility is partly due to the fact that only 1% of the float was opened to outside investors, with the remaining 99% owned by the company's founder. The company's stock has also been trending among retail traders. Additionally, reports suggest that the company's magnet supplier, South Korea's Star Group Industrial, is investing $80 million in a new factory in Vietnam to double output, which may have contributed to the stock's resurgence.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 3:40 pm