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PHG

Exor, an Italian holding company, has become a long-term investor in Philips, a Dutch multinational conglomerate, by acquiring a 15% shareholding.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 5:33 am

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META

SPY

TSLA

The world's 10 richest people are now worth a combined $1.42 trillion, equivalent to the market capitalization of Amazon.com Inc. The S&P 500, tracked by the SPDR S&P 500 ETF Trust, fell 19.2% in 2022, marking its worst performance since 2008. However, stocks rebounded in 2023, increasing the wealth of the world's richest. Elon Musk, whose wealth is tied to Tesla Inc's valuation, regained his position as the world's richest person in 2023, adding nearly $90 billion to his net worth. The shares of Tesla and Meta Platforms, linked to Mark Zuckerberg's wealth, are up 127% and 142% year-to-date, respectively.

Portfolio Pulse from Chris Katje

August 13, 2023 | 7:57 pm

ELEP

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Four companies are set to go public this week. Solowin Holdings Limited (NASDAQ:SWIN) will be offering 2,500,000 shares at $5.00 per share. Elephant Oil Corp (NASDAQ:ELEP) will be offering 1,667,000 shares at $4.50 per share. SRM Entertainment, Inc (NASDAQ:SRM) will be offering 1,250,000 shares at $5.00 per share. SACKS PARENTE GOLF, INC. (NASDAQ:SPGC) will be offering 3,000,000 shares at $4.50 per share. All companies have a 180-day lockup period.

Portfolio Pulse from Benzinga Insights

August 13, 2023 | 7:22 pm

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BRK

MSFT

NVDA

This week in AI saw significant investments and strategic moves by major companies. Morgan Stanley highlighted AI as a pivotal investment trend for the next decade. Neuralink, backed by Elon Musk, secured $280 million in funding for its brain chip trials. A study from Lucidworks revealed a surge in generative AI spending, with companies like Microsoft leading the charge. Nvidia is indirectly challenging cloud giants like Microsoft and Amazon by supplying AI accelerators to CoreWeave. Warren Buffett has directed a significant portion of Berkshire Hathaway’s portfolio towards AI investments.

Portfolio Pulse from Benzinga Neuro

August 13, 2023 | 1:01 am

ACHR

AMC

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Barron's has highlighted several stocks in its weekend review. Twilio Inc (TWLO) received an upgrade due to its AI capabilities. AMC Entertainment Holdings Inc (AMC) saw its stock tumble after a court approved the conversion of preferred equity units into common shares. Boeing Co (BA) and Archer Aviation Inc (ACHR) settled their litigation, with Boeing investing in Archer. Analysts have become bullish on Wayfair Inc (W) following a promising investor presentation. NextEra Energy Inc is seen as a low-risk green play.

Portfolio Pulse from Justin Chan

August 12, 2023 | 9:59 pm

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ARKQ

TSLA

Cathie Wood's Ark Invest has sold Tesla shares for the second consecutive day, with a total of 31,749 shares sold on Friday through its Ark Innovation ETF (ARKK) and Ark Autonomous Technology & Robotics ETF (ARKQ). The sale fetched Ark $7.7 million. This follows a sale of 76,425 Tesla shares on Thursday, bringing the total value of Tesla shares sold this week to $26.45 million. Despite the sales, Tesla remains the top holding in most of Ark's ETFs.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 6:40 pm

AAPL

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WeWork Inc's shares have been volatile following an update that rattled the stock. After a sharp fall, retail traders are trying to push the shares back over $1. The company, once valued at $47 billion, now has a market capitalization closer to $250 million. A recent filing warned investors about the company's liquidity concerns. A Reddit thread has sparked interest in WeWork shares, comparing it to GameStop and suggesting a potential rally. WeWork needs to hit $1 in the next eight weeks to stay on the NYSE and could see institutional investors coming in to help the company’s financial situation.

Portfolio Pulse from Chris Katje

August 12, 2023 | 6:36 pm

AMC

APE

AMC Entertainment Holdings Inc (AMC) has won court approval for its revised stock conversion plan, which includes extra shares for individual investors due to the stock conversion. The value of the settlement could range up to $120 million, contingent on AMC’s stock price. The timeline for the APE conversion is uncertain. Shares of AMC are trading 24.14% lower to $3.99, while APE shares are trading 26.97% higher to $2.26.

Portfolio Pulse from AJ Fabino

August 11, 2023 | 9:30 pm

EDR

Elon Musk and Mark Zuckerberg are reportedly preparing for a potential cage fight, which has been escalating since June. Musk, who owns X (formerly known as Twitter), and Zuckerberg, who owns Instagram and recently launched Threads, seem to be using their platforms to fuel their rivalry. Musk's recent update on X detailed the upcoming fight, including location and charities benefitting from it, and explicitly excluded Endeavor Group Holdings Inc.'s (NYSE:EDR) UFC as a potential host. Zuckerberg, however, hinted at the possibility of collaborating with professional organizations like UFC or ONE.

Portfolio Pulse from AJ Fabino

August 11, 2023 | 9:20 pm

MELI

MercadoLibre Inc's CFO, Pedro Arnt, is stepping down after 24 years with the company. His successor will be Martin De Los Santos, previously a senior vice president at MercadoLibre's credit division. The company's fintech segment, which De Los Santos will oversee, accounts for about 44% of its total revenue. The announcement of Arnt's departure led to a 2.7% dip in MercadoLibre's shares in postmarket trading.

Portfolio Pulse from Jose Rodrigo Safdiye

August 11, 2023 | 9:08 pm