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AMZN

Amazon's Alexa, present in over 100 million homes and connected to 400 million devices, is set to become 'a lot smarter' with AI enhancements, despite privacy concerns. Amazon plans a paid version of Alexa for a more personalized experience, aiming to make it an indispensable part of daily life. However, this raises questions about privacy as Amazon could have unprecedented access to personal data.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 4:34 pm

NVTA

Invitae, a SoftBank-backed medical genetics company, is preparing for bankruptcy as it struggles with $1.5 billion in debt. The company has hired FTI Consulting and Kirkland & Ellis to explore strategic options, including selling assets to improve liquidity.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:12 pm

AAPL

NVDA

SSNLF

Samsung Electronics Co, led by Jay Y. Lee, was acquitted of stock manipulation charges, a significant legal victory allowing Lee to continue leading the company. This ruling comes as Samsung faces competition from Apple Inc in smartphones and SK Hynix Inc in AI, with plans to commercialize advanced chips by 2025 and 2027. The acquittal removes the threat of imprisonment for Lee, enabling him to focus on Samsung's challenges, including a downturn in the smartphone and memory chip markets. Nvidia Corp, a rival in the chip sector, saw its shares rise by 3.08% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 3:41 pm

FNB

FNB has agreed to invest $11.75 million in a loan subsidy fund and spend an additional $750,000 on advertising, outreach, and education as part of a consent order with the U.S. Department of Justice. The total settlement value is $13.5 million, and the consent order will last for 5 years, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:09 pm

AAPL

GOOG

META

MSFT

Meta Platforms reported a significant rebound in its ad business and progress in its metaverse efforts with Reality Labs hitting $1 billion in revenue for the first time. Despite this, Meta faces scrutiny over its moral integrity. Other tech giants like Microsoft, Google, Apple, and Amazon also reported their earnings, with mixed results. Meta's revenue jumped 25% YoY to $40.1 billion, surpassing estimates, and its net income more than tripled to $14 billion. Meta announced its first-ever dividend and provided a positive outlook for future sales and expenses.

Portfolio Pulse from Upwallstreet

February 05, 2024 | 3:08 pm

FNB

FNB has agreed to submit a remedial plan and retain an independent monitor to assess its lending practices and improve training. Additionally, FNB will open or acquire new branches in majority-Black and Hispanic areas in Charlotte and Winston-Salem, North Carolina, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:08 pm

TSLA

SAP has decided to remove Tesla from its list of company car suppliers, citing fluctuating list prices and problematic delivery conditions as the main reasons. This decision affects Tesla's presence in the German fleet market, where it already faces challenges, as evidenced by similar moves from Hertz and Sixt and a low market share among major German fleet operators.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:52 pm

NKLA

PLUG

Nikola Corp (NASDAQ:NKLA) announced the opening of its first HYLA hydrogen refueling station in Southern California, aiming to fuel up to 40 Class 8 trucks daily. This marks the beginning of Nikola's plan to establish a significant hydrogen refueling network, with ambitions for up to 60 stations. Additionally, Ole Hoefelmann, with a 30-year background in hydrogen and former executive roles at Air Liquide and Plug Power Inc (NASDAQ:PLUG), has been appointed as president of Nikola's energy division. Nikola's stock was down 4.67% at $0.6941.

Portfolio Pulse from Adam Eckert

February 05, 2024 | 2:46 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) published a Letter to Shareholders detailing progress towards commercialization of its AI-driven DeepView System for wound care. Highlights include a $149 million BARDA contract, plans for revenue generation in the next three years, FDA and UKCA marking of its technology, promising clinical study results, and strengthening of the management team and Board.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:10 pm

MCD

During a conference call, a McDonald's executive stated that they anticipate the company's comparable sales growth to continue moderating in 2024 as it returns to a more normalized level of growth. Additionally, in the International Developmental Licensed (IDL) segment, meaningful improvement is not expected until there is a resolution in the Middle East.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:07 pm