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Corporate Responsibility

MSFT

Sam Altman, former president of OpenAI, is considering a return to the company if certain board members resign. This follows tensions after his move to Microsoft Corp. (NASDAQ:MSFT) was announced. OpenAI staff have signed an open letter calling for the board's resignation and Altman's reinstatement. Despite the appointment of Emmett Shear as CEO, the situation is uncertain, with employees boycotting a meeting with Shear. Meanwhile, Microsoft's stock hit a record high, with a 2.3% increase on Monday and a 58% year-to-date performance, potentially its best year since 1999.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 8:40 pm

GM

General Motors (GM) has decided not to participate in the Super Bowl 2024 advertising, ending a four-year streak of commercial presence during the event. The company stated that this decision aligns with their current business priorities.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:34 pm

TCNNF

A report from Maine's cannabis regulator found that half of the state's medical marijuana is tainted with contaminants. The American Medical Association calls for more education on cannabis risks to children and pregnant women. Georgia expands its medical cannabis industry with four new licenses, including FFD GA Holdings LLC, TheraTrue Georgia, LLC, Natures GA, LLC, and Treevana Remedy Inc. Over half of the US population lives in states where cannabis is legal. The DOJ argues for a firearms ban for marijuana users, citing historical firearm regulations.

Portfolio Pulse from Jelena Martinovic

November 20, 2023 | 8:33 pm

MSFT

Nat Friedman, former CEO of Microsoft's GitHub, declined the offer to become Interim CEO of OpenAI. The offer came after OpenAI's board fired co-founder Sam Altman, leading to several senior resignations. OpenAI co-founder Ilya Sutskever confirmed Altman's non-reinstatement and announced Emmett Shear, Twitch co-founder, as the interim leader.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:19 pm

JCI

Johnson Controls (NYSE:JCI) received a $33M DOE grant to expand U.S. heat pump manufacturing, increasing production by 200% and creating 1,000 jobs. Facilities in Texas, Kansas, and Pennsylvania will produce 200,000 heat pumps annually, reducing CO² emissions by 25 million metric tons per year. The expansion is part of the Defense Production Act to boost clean energy tech and will involve local partnerships for workforce development.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:15 pm

AI

MSFT

C3.ai, Inc. (NYSE:AI) stock is trading higher as interest in AI companies grows due to leadership changes at Microsoft Corporation (NASDAQ:MSFT) and OpenAI. OpenAI's board removed CEO Sam Altman, who is joining Microsoft's new AI team, along with former OpenAI president Greg Brockman. OpenAI has appointed former Twitch CEO Emmett Shear as interim-CEO. C3.ai is set to report Q2 financial results on Dec. 6. The stock is popular among retail investors and has a high short interest of 39.64%.

Portfolio Pulse from Erica Kollmann

November 20, 2023 | 7:11 pm

MSFT

Sam Altman is reportedly attempting to return as CEO of OpenAI, with the situation at the company remaining unresolved. Despite earlier reports of Altman's move to Microsoft, this transition is not yet finalized. OpenAI's board dynamics are in flux, with Ilya Sutskever, a board member and chief scientist, now supporting Altman. Only two of the three remaining board members need to change their stance for Altman's return to be possible. Altman hinted at ongoing efforts to work together in a recent post on X. Microsoft has declined to comment on the situation.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 7:05 pm

MSFT

Sam Altman and Greg Brockman, formerly of OpenAI, have been hired to lead a new advanced AI research team at Microsoft following their ouster from OpenAI. Analysts from Wedbush, Oppenheimer, and Evercore ISI view this as a positive move for Microsoft, with all maintaining an Outperform rating and setting price targets ranging from $410 to $432. Microsoft's stock was trading at $376.5 at the time of publication.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 7:02 pm

FSR

Fisker Inc. has experienced the departure of its second Chief Accounting Officer in less than a month, according to the Wall Street Journal citing sources. This executive turnover could raise concerns among investors regarding the stability of the company's financial management team.

Portfolio Pulse from Charles Gross

November 20, 2023 | 6:50 pm

AMZN

GOOG

GOOGL

MSFT

OpenAI is facing potential customer defections to competitors Anthropic, Google, and Cohere following board member Ilya Sutskever's regret over the firing of CEO Sam Altman. Over 100 customers have contacted Anthropic, which has received funding from Amazon and Google, and others have reached out to Google Cloud and Cohere. OpenAI investors hope for Altman's return.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 6:06 pm