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GOOG

GOOGL

Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) is trading at its lowest valuation among the Magnificent Seven tech giants, despite a 13.24% stock dip due to an ongoing antitrust lawsuit. The lawsuit, which targets Alphabet's search distribution agreements, could impact up to 25% of Google's Search revenue. However, the current forward P/E multiple of 21.42 presents a potentially undervalued opportunity for investors.

Portfolio Pulse from Surbhi Jain

August 09, 2024 | 2:39 pm

MMAT

On August 9, 2024, Meta Materials ceased operations and filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 1:48 pm

CRWD

DAL

Malcolm Ethridge of CIC Wealth expressed a bullish stance on CrowdStrike Holdings Inc. (NASDAQ:CRWD) despite recent legal issues and operational disruptions caused by a global outage. Ethridge suggests that the current lower stock price presents a buying opportunity. The outage led to significant disruptions, including 7,000 flight cancellations and a $380 million revenue impact for Delta Air Lines, Inc. (NYSE:DAL). Despite these issues, some analysts remain optimistic about CrowdStrike's long-term growth potential.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 1:45 pm

COIN

A virtual meeting between the cryptocurrency industry and Democratic Party officials, hosted by Congressman Ro Khanna, aimed to ease tensions but turned confrontational. Crypto executives criticized the Biden administration's regulatory actions, while Anthony Scaramucci expressed optimism about Kamala Harris's potential to gain support within the crypto community.

Portfolio Pulse from Murtuza Merchant

August 09, 2024 | 1:05 pm

CRUZ

CRWD

DAL

JETS

MSFT

Delta Air Lines (NYSE:DAL) expects a $380 million revenue impact for the September quarter due to an outage caused by CrowdStrike (NASDAQ:CRWD), leading to 7,000 flight cancellations. Delta is pursuing legal claims against CrowdStrike and Microsoft (NASDAQ:MSFT) for damages totaling at least $500 million. The outage also resulted in $170 million in non-fuel expenses and a $50 million reduction in fuel expenses. DAL stock has lost around 12% in the last 12 months. Investors can gain exposure via U.S. Global Jets ETF (NYSE:JETS) and Defiance Hotel, Airline, and Cruise ETF (NYSE:CRUZ).

Portfolio Pulse from Lekha Gupta

August 09, 2024 | 10:16 am

RUM

TSLA

Elon Musk's social media company, X, has filed an antitrust lawsuit leading to the suspension of the Global Alliance for Responsible Media (GARM). The World Federation of Advertisers (WFA) announced the suspension and plans to challenge the allegations in court. Rumble Inc. has also joined X in filing similar lawsuits.

Portfolio Pulse from Ananya Gairola

August 09, 2024 | 5:26 am

GOOG

GOOGL

MSFT

Sen. Elizabeth Warren and Rep. Lori Trahan have raised concerns about OpenAI's whistleblower handling and AI safety procedures in a letter to CEO Sam Altman. The letter questions OpenAI's internal criticism suppression and safety review processes, including unauthorized testing of GPT-4. Microsoft (MSFT) and Alphabet (GOOG, GOOGL) are also mentioned due to their investments in AI startups, raising potential antitrust concerns.

Portfolio Pulse from Aaron Bry

August 08, 2024 | 7:59 pm

CRWD

DAL

MSFT

Delta Air Lines is pursuing $500 million in legal claims against CrowdStrike and Microsoft following a July outage that led to 7,000 flight cancellations. The incident is expected to impact Delta's Q3 2024 results with a $380 million revenue hit, $170 million in non-fuel expenses, and $50 million in lower fuel costs.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 7:05 pm

MSFT

Sen. Elizabeth Warren and Rep. Lori Trahan are demanding answers from OpenAI regarding its safety practices and whistleblower protections. The lawmakers cited several safety concerns and instances where OpenAI's procedures were questioned. They also highlighted OpenAI's recent efforts to improve safety, including partnerships and policy changes. The letter could signal potential federal intervention.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 6:06 pm

ZBRA

Zebra Technologies has responded to a short report by Spruce Point Capital Management, stating that the report contains numerous mischaracterizations aimed at negatively impacting Zebra's share price. Zebra remains confident in its strategy and its ability to create value for shareholders.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 5:34 pm