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OpenAI, the company behind ChatGPT, has filed for a trademark for ChatGPT-5, indicating a more advanced version of the AI chatbot may be coming soon. This comes amid reports of declining active users for ChatGPT. Microsoft, a major investor in OpenAI, recently announced new pricing plans for its AI-powered Office tools. Other companies like Alphabet and Apple are also developing their own proprietary technologies.

Portfolio Pulse from Aaron Bry

July 31, 2023 | 3:48 pm

ORCL

A large bullish position has been taken on Oracle (NYSE:ORCL), as noticed by Benzinga's options scanner. The sentiment among big-money traders is split between 53% bullish and 46% bearish. Whales have been targeting a price range from $105.0 to $130.0 for Oracle over the last 3 months. Piper Sandler has downgraded its action to Overweight with a price target of $130.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:45 pm

FFIN

First Financial Bankshares, Inc. (NASDAQ:FFIN) has announced the renewal of its existing stock repurchase plan. The company may repurchase up to 5 million shares of its common stock from July 25, 2023, through July 31, 2024. This represents approximately 3.5% of the company's outstanding shares. The repurchase will be made through the open market, block trades, or privately negotiated transactions.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 3:31 pm

LMT

Lockheed Martin Inc.'s (NYSE:LMT) shares are currently trading at $446.56, after a 0.54% decrease. Over the past month, the stock decreased by 3.50%, but over the past year, it spiked by 4.14%. The company's P/E ratio is 16.46, lower than the Aerospace & Defense industry average of 36.28, indicating that the stock might be undervalued or expected to perform worse than its industry peers.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:30 pm

GM

HMC

STLA

TSLA

VWAGY

XPEV

Last week, Tesla Inc (TSLA) initiated discussions about constructing a factory in India. Volkswagen AG (VWAGY) formed a partnership with Chinese EV rival, XPeng (XPEV), investing approximately $700 million for a 4.99% stake. Stellantis (STLA), General Motors (GM), and Honda (HMC) are collaborating to establish EV charging services across the US. Volkswagen's EV growth has been slower than expected, with BEV sales growing only 26% YoY. However, the company is taking steps to strengthen its position in China.

Portfolio Pulse from Upwallstreet

July 31, 2023 | 3:24 pm

ADBE

MS

Shares of Adobe Inc (NASDAQ:ADBE) are trading more than 3% higher after Morgan Stanley (NYSE:MS) upgraded the stock from Equal-Weight to Overweight and raised the price target from $510 to $660. The upgrade reflects Morgan Stanley's growing confidence in Adobe’s growth potential, particularly its ability to capitalize on advancements in Generative AI (GenAI). Adobe's GenAI is expected to drive product innovation and improve the integration of functionality into existing workflows. Morgan Stanley also revised its predictions for Adobe’s earnings, suggesting a Compound Annual Growth Rate (CAGR) of 17% for Adobe’s EPS from fiscal 2022 to fiscal 2025.

Portfolio Pulse from AJ Fabino

July 31, 2023 | 3:19 pm

EPD

Enterprise Prods Partners Inc. (NYSE:EPD) shares are currently trading at $26.42, after a 0.11% drop. Despite a decrease of 0.45% over the past month, the stock has increased by 0.28% over the past year. The company's P/E ratio is lower than the industry average, which could indicate that the stock is undervalued or that shareholders do not expect it to perform well in the future.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:15 pm

JD

A whale investor has taken a bearish stance on JD.com (NASDAQ:JD), with 61% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $22.5 to $52.5 for JD.com over the last 3 months. The price of JD is up 2.0% at $41.34. Benchmark has decided to maintain their Buy rating on JD.com, which currently sits at a price target of $73.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:03 pm

NOW

A significant bearish stance has been taken on ServiceNow (NYSE:NOW) by a large investor, as indicated by a large position in the company's options. The overall sentiment of these big-money traders is 30% bullish and 70% bearish. The whales have been targeting a price range from $290.0 to $610.0 for ServiceNow over the last 3 months. The price of NOW is up 1.48% at $577.97. RBC Capital, Barclays, and MoffettNathanson have maintained their Outperform rating on ServiceNow, while Guggenheim downgraded its action to Buy.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:02 pm

FTEL

Fitell Corporation (NASDAQ:FTEL) is set to IPO on August 1st on the NASDAQ exchange under the ticker FTEL. The company is offering shares at an expected price between $5.00 and $6.00 per share with an insider lock-up period of 180 days ending on January 28, 2024. Fitell operates through its wholly owned subsidiary GD Wellness PTY LTD, a gym and fitness equipment retailer.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:00 pm