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AMZN

Sean Cassidy, the director of safety, flight operations, and regulatory affairs for Amazon's drone delivery unit, has left the company. His departure is a setback for Amazon's Prime Air program, where he played a crucial role in liaising with the FAA. Despite obtaining Part 135 certification from the FAA, Amazon's drone program has faced challenges, including layoffs, regulatory issues, and a recent crash under investigation. Amazon has expanded drone delivery services in Texas and announced plans for the UK, Italy, and another US state.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 6:38 am

AAPL

MSFT

Apple Inc. (AAPL) celebrated its 43rd IPO anniversary, reflecting on a journey from a $22 share price to becoming the largest company by market cap at $3.004 trillion. An initial $1000 investment in Apple's IPO would now be worth $1,524,838.86, outperforming the Nasdaq and S&P 500 returns for the same period. Despite challenges, including Steve Jobs' departure and return, Apple has thrived, launching revolutionary products like the iPod and iPhone, and continues to grow under CEO Tim Cook.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 6:30 am

JOE

The St. Joe Company has announced plans to expand Watersound Town Center with new tenants including a Starbucks, additional retail, dining, medical, and office spaces. This expansion is expected to enhance the company's real estate portfolio and attract more visitors and businesses to the area.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 6:23 am

NFLX

Netflix Inc. (NASDAQ:NFLX) experienced a significant global outage on Monday, with users reporting a 'tvq-pb-101' error message. The issue, which lasted several hours, affected various devices including Roku smart TVs, PS5, and Xbox, but did not impact services like Google or Amazon. The outage was resolved by 8 PM ET. This comes amid customer dissatisfaction over rising subscription costs, which could influence Netflix's subscriber numbers and competitive standing.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 3:00 am

F

Ford Motor Co (NYSE:F) is reducing its production targets for the F-150 Lightning electric pickup by 50% starting next year due to changing market demand. The new target is approximately 1,600 vehicles per week, down from the initial 3,200 units. This decision follows Ford's Q3 announcement of delaying a $12 billion EV investment and focusing on combustion engine vehicles and hybrids. Despite the production cut, Ford's Lightning sales increased by 113% year-on-year in November.

Portfolio Pulse from Anan Ashraf

December 12, 2023 | 2:31 am

GOOG

GOOGL

MSFT

Elon Musk's AI chatbot Grok is accused of copying OpenAI's ChatGPT responses and codebase. A user highlighted that Grok's disclaimer matched ChatGPT's, raising suspicions of codebase plagiarism. OpenAI, backed by Microsoft, responded with a snarky comment, to which Musk replied, hinting at OpenAI's use of data from social platforms. The incident reflects ongoing tensions between Musk and OpenAI's Sam Altman, and has led to Musk restricting access to X (formerly Twitter) and Reddit implementing strategies to monetize data access for companies like OpenAI and Google.

Portfolio Pulse from Rounak Jain

December 12, 2023 | 2:20 am

HAS

Hasbro has announced that its Providence, Rhode Island office is not being fully utilized and has decided to vacate the space when the lease expires in January 2025.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 10:06 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has included 77 temporary game testers from ZeniMax Studios into a quality assurance union, with 23 testers becoming full-time employees and all testers receiving raises. The unionization has also provided testers with paid holidays, sick time, and complimentary copies of Starfield. This move by Microsoft, following its acquisition of ZeniMax's parent Bethesda for $8.1 billion in 2020, sets a new standard in the gaming industry's labor practices and contrasts with allegations against Sega of America for threatening unionized staff.

Portfolio Pulse from Franca Quarneti

December 11, 2023 | 10:06 pm

LCID

Lucid Group, Inc. (NASDAQ:LCID) shares fell in after-hours trading following the announcement of CFO Sherry House's immediate resignation to pursue other opportunities. This news comes on the heels of Lucid being removed from the Nasdaq-100 Index, further impacting the stock negatively. Gagan Dhingra, VP of Accounting and PAO, will serve as interim CFO and PFO.

Portfolio Pulse from Ryan Gustafson

December 11, 2023 | 10:05 pm

HAS

Hasbro has announced further headcount reductions as part of its strategic transformation, which will affect 1,100 employees globally. This is in addition to the approximately 800 job cuts already made, as reported in a recent filing.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 10:04 pm