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COHR

IFBD

RXT

WETG

During Wednesday's intraday session, several information technology stocks experienced significant movements. Notable gainers included WeTrade Group (WETG), Rackspace Tech (RXT), Cemtrex (CETX), Rekor Systems (REKR), Taoping (TAOP), and Hitek Global (HKIT). On the other hand, Infobird Co (IFBD), Coherent (COHR), Castellum (CTM), Cyngn (CYN), Powerbridge Technologies (PBTS), and WaveDancer (WAVD) saw their shares decline.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 5:31 pm

ITW

Illinois Tool Works (NYSE:ITW) has outperformed the market over the past 20 years, producing an average annual return of 9.92%. If an investor had bought $1000 of ITW stock 20 years ago, it would be worth $6,639.93 today.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 5:30 pm

CTSH

Cognizant Tech Solns (NASDAQ:CTSH) has outperformed the market over the past 20 years, producing an average annual return of 15.38%. If an investor had bought $100 of CTSH stock 20 years ago, it would be worth $1,749.97 today.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 5:30 pm

ARHS

Arhaus Inc (NASDAQ:ARHS) shares are trading lower by 13.6% after the company announced an underwritten public offering of 12 million shares of Class A common stock by selling shareholders. The offering is by certain affiliated selling stockholders associated with Freeman Spogli & Co. All proceeds from the offering will go to the Selling Stockholders, with Arhaus not participating in the sale or receiving any proceeds.

Portfolio Pulse from Henry Khederian

August 16, 2023 | 5:20 pm

PANW

A whale investor has taken a bullish stance on Palo Alto Networks (NASDAQ:PANW), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale trades have targeted a price range from $190.0 to $225.0 for PANW over the last 3 months. The current price of PANW is $215.47. Analysts from Rosenblatt, RBC Capital, Barclays, Goldman Sachs, and Keybanc have maintained positive ratings on PANW with price targets ranging from $250 to $285.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 5:16 pm

MNK

Mallinckrodt shares are trading lower following the company's announcement of restructuring support agreement discussions, which could potentially lead to Chapter 11 bankruptcy proceedings.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 5:14 pm

DWAC

The merger between Trump Media & Technology Group (TMTG) and Digital World Acquisition Corporation (DWAC) has faced several setbacks and is yet to be approved. The vote for the merger has been extended to Dec. 31, 2023. Despite facing legal challenges and potential jail time, former President Donald Trump is expected to maintain control of the media company even if he sells most of his shares. This is due to a new class of stock that will see Trump as the only holder, giving him 55% voting power of the new entity.

Portfolio Pulse from Chris Katje

August 16, 2023 | 5:12 pm

EBET

Shares of EBET are surging higher on Wednesday, despite no specific news from the company.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 5:11 pm

HD

Home Depot (HD) reported better-than-expected Q2 results, leading several analysts to raise their price targets. Despite a 2% YoY sales decline to $42.92 billion, the company beat the consensus of $42.25 billion. EPS was $4.65, surpassing the $4.46 consensus. Analysts from DA Davidson, Truist Securities, Wedbush, and Morgan Stanley revised their estimates and price targets, with a general belief that the worst is behind for Home Depot. HD shares are trading higher by 0.79% at $334.76.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 5:10 pm

SNAP

Snap Inc.'s MyAI chatbot experienced an outage, causing it to post stories for some users. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 5:02 pm