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IDN

IREN

TROO

VERI

In Friday's intraday session, 12 Information Technology stocks showed significant movements. Notably, Intellicheck (IDN) surged by 68.6% following its Q4 earnings release. Other gainers included Veritone (VERI), Movella Holdings (MVLA), My Size (MYSZ), WaveDancer (WAVD), and BTC Digital (BTCT) with notable upward movements. Conversely, TROOPS (TROO), Wrap Technologies (WRAP), Iris Energy (IREN), SMX (Security Matters), Abits Group (ABTS), and SoundHound AI (SOUN) experienced declines.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:31 pm

SLB

Options market activity indicates a bullish sentiment towards Schlumberger (NYSE:SLB), with a majority of trades being bullish. The options trading volume and open interest suggest a price target range of $50.0 to $60.0. Notable options activity includes both bullish and bearish trades, with significant volumes and open interests. Schlumberger, the world's largest oilfield service firm, has seen its stock price increase by 0.29% to $54.6, with a potential overbought condition indicated by the current RSI values. An analyst from Benchmark has set a price target of $68.0, downgrading the stock to Buy.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:30 pm

HOOD

Robinhood shares are trading lower following the announcement that Co-Founder and Chief Creative Officer, Baiju Bhatt, will step down from his executive role.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:30 pm

GBTC

Bitcoin Cash (BCH) and Ethereum Classic (ETC) are trading lower, down 4.9% and 5% respectively, amid a broader pullback in altcoins following a decline in Bitcoin. The Grayscale Bitcoin Trust (GBTC) experienced significant outflows, indicating cautious investor sentiment.

Portfolio Pulse from Henry Khederian

March 22, 2024 | 5:26 pm

AMZN

FDIS

XLY

Truist analyst Youssef Squali maintains a Buy rating on Amazon (AMZN) with a $195 price target, predicting revenue growth driven by AWS and retail sales. U.S. revenue is expected to exceed consensus, reaching $87.0 billion (+13% Y/Y) for the quarter. The first-ever U.S. Big Spring Sale is anticipated to boost demand. Total Q1 revenues are projected at $143.1 billion (+12.3% Y/Y), with AWS revenues at $24.5 billion (+14.5% Y/Y). Amazon's ads business is also expected to sustain above-market growth. AMZN shares rose 0.40% to $178.66. Exposure to AMZN can be gained through XLY and FDIS ETFs.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 5:24 pm

IVVD

Trading of Invivyd's shares (IVVD) has been temporarily halted due to pending news. This action is a standard procedure in situations where significant announcements are expected that could influence the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:17 pm

CHX

OIH

PXJ

ChampionX Corporation (NASDAQ:CHX) announced its plan to acquire RMSpumptools Limited for approximately $110 million, aiming to strengthen its global presence in artificial lift solutions. The acquisition, expected to close by Q3 2024, is anticipated to generate around $65 million in revenues and $18 million in adjusted EBITDA for 2024. This move aligns with ChampionX's strategy for technology acquisitions and is funded by cash on hand, without affecting its 2024 capital return framework. CHX stock has seen over a 35% increase in the past year.

Portfolio Pulse from Nabaparna Bhattacharya

March 22, 2024 | 5:17 pm

EPAM

EPAM Systems' shares declined following Morgan Stanley's decision to maintain an Underweight rating on the stock, with a reduced price target from $250 to $236.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:15 pm

NLY

Annaly Capital Management (NYSE:NLY) has seen a 3.91% increase in short interest, now at 8.27 million shares or 1.86% of float. It would take 1.78 days to cover short positions. Despite the rise, NLY's short interest is below its peer group average of 6.81%. This increase in short interest signals a more bearish market sentiment but does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:15 pm

MPLX

MPLX's (NYSE:MPLX) short interest has decreased by 13.8%, with 9.90 million shares sold short, representing 2.81% of its float. This decline in short interest could indicate a more bullish sentiment towards MPLX among traders. The company's short interest is below its peer group average of 3.60%, suggesting it is performing well compared to its peers. Short interest is a key indicator of market sentiment, and a decrease often signals increasing bullishness.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:15 pm