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SEC Chairman Gary Gensler warned investors about 'AI washing' by companies exaggerating AI's impact on their business. He emphasized the need for disclosing AI's operational, legal, and competitive risks. Gensler's comments come amid a surge in AI investments, particularly in tech giants like Apple, Meta Platforms, NVIDIA, Amazon, Alphabet, Microsoft, and Tesla. He also highlighted the potential systemic risks of AI in financial markets and the challenge new technologies pose to existing laws.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 3:39 am

COIN

META

NVDA

TSLA

Cathie Wood's Ark Invest adjusted its portfolio by increasing stakes in Tesla and Meta Platforms, while reducing holdings in Coinbase and Nvidia. The firm's strategic moves reflect its response to market dynamics and growth prospects, with purchases and sales made through various Ark ETFs. The adjustments highlight Ark's confidence in Tesla and Meta's future growth, while taking profits in Coinbase and addressing valuation concerns in Nvidia.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 3:32 am

CLSK

COIN

IREN

MARA

MSTR

RIOT

Bitcoin, Ethereum, and Dogecoin surged in a Valentine's Day market rally, with Bitcoin reaching its highest value in 26 months at $52,000 and a market cap over $1 trillion. U.S.-listed spot bitcoin ETFs saw substantial inflows, notably BlackRock's IBIT. Crypto-related equities like Coinbase, Microstrategy, Iris Energy, CleanSpark, Marathon Digital, and Riot Platforms also saw significant gains. Analysts predict Bitcoin could hit $60,000 before the April halving event, as on-chain data shows a decrease in Bitcoin held in exchange wallets, suggesting a shift towards long-term holding.

Portfolio Pulse from Mehab Qureshi

February 15, 2024 | 2:49 am

COIN

MARA

QS

RIOT

TSLA

The U.S. stock market saw gains with the Dow Jones, S&P 500, and Nasdaq all closing higher. Coinbase, Marathon Digital Holdings, Riot Platforms, QuantumScape, and Tesla were among the top stocks gaining attention due to various factors including Bitcoin's rally, anticipated earnings, and technological advancements.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 2:22 am

PTEN

Patterson-UTI Energy (PTEN) projects Q1 drilling products revenue at ~$90M with $50M in direct operating costs and an adjusted gross profit of $40M. The company anticipates steady oil basin activity and potential impacts on natural gas basins due to current low prices. It expects to operate an average of 120 U.S. rigs, slightly up from Q4's 118. Completion Services revenue is forecasted at $940-950M with a gross profit of $190-200M. The company plans $740M in capital expenditures for 2024 and aims for an effective tax rate of 24%.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:58 pm

ASTL

Algoma Steel announced the completion of repair work and the restart of its blast furnace, resuming steel production on February 11, 2024, after a structure collapse at its coke-making plant on January 20, 2024. The company has strengthened its operations through these essential repairs.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:05 pm

MMC

Marsh McLennan announced the pricing of a $1 billion senior notes offering, with plans to use the proceeds for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:03 pm

AMPE

Ampiolans announced plans to take immediate actions to preserve its cash to ensure it can fund any options identified by its Board. The company's management and Board are assessing both internal and external options.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:00 pm

UBER

Third Point, a notable investment firm, has significantly reduced its stake in Uber Technologies Inc., cutting down from 4.2 million shares to just 1 million shares. This move indicates a major shift in Third Point's investment strategy regarding Uber.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:23 pm

NVDA

SOUN

SoundHound AI's stock price increased following Nvidia's disclosure of a 1.73 million share stake in the company.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:15 pm