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FOXO

FOXO Technologies Inc. (NYSE:FOXO) has completed its strategic review and announced a significant restructuring of the business, including cost rationalization and divestment of certain assets. The company has reduced headcount expenses by approximately 65% and is leveraging AI technologies to enhance efficiency and drive its new direct-to-consumer strategy. FOXO has also been granted two key patents by the USPTO, which will be integrated into its new consumer-focused health and wellness offering.

Portfolio Pulse from Happy Mohamed

October 23, 2023 | 12:05 pm

SUM

Summit Materials' subsidiary, Continental Cement, has signed a Memorandum of Understanding (MoU) with PCC Hydrogen to explore opportunities to reduce carbon emissions. The collaboration aims to leverage PCC Hydrogen's expertise in hydrogen production and utilization to lower the carbon footprint of Continental Cement's operations.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 11:48 am

FMC

FMC Corporation has initiated an immediate restructuring process in Brazil and launched a broader, more comprehensive process to review and adjust its total company cost structure.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 11:41 am

HOPE

Hope Bancorp has announced a realignment of its business and product delivery channels. The company expects this move to generate estimated annualized cost savings of over $40 million.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 10:37 am

MSFT

Microsoft's CEO, Satya Nadella, emphasized the company's focus on artificial intelligence (AI) and its potential to revolutionize productivity and communication. He compared AI's transformative power to that of cloud computing. However, he also stressed the need for global governance of AI to ensure it does not go beyond human control.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 8:21 am

GOOG

GOOGL

Google's VP of Cloud’s global AI business, Philip Moyer, has stated that artificial intelligence (AI) will eliminate tedious tasks and make work more satisfying, contradicting fears of widespread job losses. He suggested that generative AI tools such as ChatGPT and Bard will likely boost job satisfaction and productivity. He also mentioned that AI could transform sectors like finance, invoicing, and medicine that involve significant administrative work.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 7:52 am

FB

GOOGL

GS

JPM

PFE

SBUX

The Israel-Hamas conflict has stirred controversy within the global business sector, with executives and workers facing repercussions for voicing their opinions. Pfizer's CEO expressed horror at the atrocities in Israel, while the CEO of Web Summit resigned after backlash for a tweet implying Israel's guilt in war crimes. Starbucks is in a legal dispute over a pro-Palestinian tweet. Leaders from J.P Morgan Chase, Goldman Sachs, Google, and Meta Platforms have denounced the Hamas attacks and expressed solidarity with Israel.

Portfolio Pulse from Benzinga Neuro

October 22, 2023 | 5:55 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is reportedly late to the AI party, with executives expressing concern over the company's slow progress in the field. The company's only significant AI release so far is an improved auto-correct feature in iOS 17. Apple is now working on its own large-language model called Ajax and has rolled out an internal chatbox dubbed 'Apple GPT' to test out the functionality. The company is likely to spend about $1 billion per year on these efforts.

Portfolio Pulse from Shanthi Rexaline

October 22, 2023 | 5:03 pm

AAPL

Apple Inc. (NASDAQ:AAPL) had a busy week with developments including TV show cancellations, iPhone 15 Pro Max glitches, CEO Tim Cook's talks with Chinese officials, product timeline updates, and the launch of a new, more affordable Apple Pencil. Apple TV+ cancelled 'The Problem With Jon Stewart' due to creative differences. Apple's customer support suggested that a bug in the iOS 17 beta update might be causing the iPhone 15 Pro Max's display burn-in issue. Amid concerns over a potential iPhone ban and the declining market in China, Tim Cook met with China's commerce minister Wang Wentao. Tech analyst Ming-Chi Kuo suggested that the mass production of Apple's AirTag 2 might be delayed to 2025. Apple launched a new, cost-effective Apple Pencil with a USB-C port.

Portfolio Pulse from Benzinga Neuro

October 22, 2023 | 11:14 am

AMZN

Sen. Amy Klobuchar and Rep. Joseph Morelle have expressed concern over Amazon's Alexa spreading election misinformation. The concerns stem from a report by The Washington Post, which disclosed instances of Alexa echoing false claims about the 2020 election. Amazon responded to these allegations, citing the inaccuracies as errors that were promptly addressed. A survey found that 53% of Americans are concerned that AI might spread false information about the 2024 election.

Portfolio Pulse from Ananya Gairola

October 21, 2023 | 8:22 am