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Brad Gerstner, CEO of Altimeter Capital, expressed optimism for the potential of artificial intelligence (AI), stating it could be more impactful than the internet or mobile technology. His comments come amid a surge of interest in AI, which led Nvidia Corp. to rise 190% and exceed a market cap of $1 trillion. Altimeter Capital held significant stakes in Meta Platforms Inc., Microsoft Corp., Nvidia, and Snowflake Inc. at the end of the second quarter.

Portfolio Pulse from Piero Cingari

September 28, 2023 | 9:16 pm

FTNT

Fortinet (NASDAQ:FTNT) has outperformed the market over the past 5 years, producing an average annual return of 26.3%. If an investor had bought $100 of FTNT stock 5 years ago, it would be worth $317.48 today. The company currently has a market capitalization of $46.02 billion.

Portfolio Pulse from Benzinga Insights

September 28, 2023 | 9:00 pm

AJG

Arthur J. Gallagher (NYSE:AJG) has outperformed the market over the past 10 years by 8.21% on an annualized basis, producing an average annual return of 17.94%. If an investor had bought $1000 of AJG stock 10 years ago, it would be worth $5,211.61 today.

Portfolio Pulse from Benzinga Insights

September 28, 2023 | 9:00 pm

GOOG

GOOGL

Bill Ackman, the founder of Pershing Square Capital Management, has revealed that Alphabet Inc. is now the firm's second largest investment.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:52 pm

GOOG

GOOGL

Bill Ackman, the founder of Pershing Square Capital Management, has revealed that his decision to buy Alphabet Inc. stock was largely influenced by the company's advancements in artificial intelligence (AI).

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:39 pm

GT

Goodyear Tire & Rubber Co reported a fire at its tire manufacturing facility in Debica, Poland, causing a temporary shutdown. The incident is expected to negatively impact EMEA consumer sales by $20M to $25M in Q3 of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:37 pm

GT

Goodyear Tire & Rubber Co announced that full ramp-up at its tire manufacturing facility in Debica, Poland is not expected until Q4 of 2024. The company resumed tire production at Debica on August 22, 2023, at approximately 55% of capacity.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:36 pm

MA

PYPL

PayPal (NASDAQ:PYPL) has filed a patent application for a system that would enable the transfer and trading of non-fungible tokens (NFTs) within its network. The system aims to facilitate off-chain transactions through NFTs in a market platform, offer digital wallets associated with the NFT marketplace, and allow users to buy and sell NFTs using fiat currency or other cryptocurrencies. Mastercard (NYSE:MA), a PayPal competitor, has also filed 15 NFT and metaverse trademark applications.

Portfolio Pulse from Khyathi Dalal

September 28, 2023 | 8:36 pm

FBRT

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) has closed BSPRT 2023-FL10, a $900 million Commercial Real Estate Collateralized Loan Obligation (CLO). This is FBRT's tenth CLO since June 2017. The CLO has an 18-month reinvestment period, an initial advance rate of 85.5%, and a weighted average interest rate of Term SOFR+275%. J.P. Morgan, LLC was the sole structuring agent, while Wells Fargo Securities, LLC and Barclays Capital Inc. were co-lead managers and joint bookrunners.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:33 pm

FERG

Over the past 5 years, Ferguson (NYSE:FERG) has outperformed the market by 8.03% on an annualized basis, producing an average annual return of 16.04%. If an investor had bought $1000 of FERG stock 5 years ago, it would be worth $2,103.94 today.

Portfolio Pulse from Benzinga Insights

September 28, 2023 | 8:30 pm