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MSFT

Elon Musk continues his criticism of OpenAI, urging the company to change its name due to its refusal to open-source its AI technology. This follows OpenAI's official response to Musk's lawsuit, which accuses the company and its CEO of prioritizing profits over open-source principles, specifically pointing to Microsoft Corp. (NASDAQ:MSFT) as a major investor benefiting from this strategy. Musk, who has founded his own AI startup, xAI, emphasizes the importance of adhering to OpenAI's founding open-source principles.

Portfolio Pulse from Rounak Jain

March 06, 2024 | 9:19 am

AAPL

Apple Inc (NASDAQ:AAPL) faces a potential 5% share price drop due to decreased demand in China and a European Commission fine, according to Jim Cramer. Despite these challenges, including a 24% drop in iPhone sales in China and a nearly $2 billion EU fine, Cramer advises holding Apple shares. Apple aims to counteract these setbacks with AI-integrated iPhones.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 8:55 am

TSLA

Tesla Inc. (NASDAQ:TSLA) experienced a nearly 5% drop in stock price on Tuesday, attributed to weak shipments in China and a temporary shutdown of its German factory. This downturn is part of a 27% year-to-date decline. Jim Cramer commented on the situation, calling it 'magnificent.' The decline is also influenced by production halts, price hikes in China, diminishing U.S. EV demand, and scrutiny over CEO Elon Musk's $56 billion pay package. Despite these challenges, Tesla's energy storage business is seen as a potential revenue driver, though its valuation is debated.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 7:03 am

DIS

Jim Cramer has advised investors to be cautious with Walt Disney Co (NYSE:DIS) stock, which has hit a 52-week high, due to concerns over the sustainability of its recent rally. Disney is currently facing a proxy battle with activist investor Nelson Peltz, and despite efforts to revitalize its film slate, Cramer suggests trimming positions in Disney stock.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 4:52 am

MSFT

TSLA

Elon Musk mocked ChatGPT in favor of xAI's Grok for providing real-time updates on Bitcoin's price movements. Musk's comments followed Bitcoin's volatile week, where it hit an all-time high then dropped to $63,000. Musk is also in a legal battle with OpenAI, accusing it of breaching contract and favoring profits over open-source principles.

Portfolio Pulse from Mehab Qureshi

March 06, 2024 | 4:44 am

DIS

Nelson Peltz of Trian Fund Management is leading an activist battle against Walt Disney Co (NYSE:DIS), aiming to 'restore the magic' by addressing the company's underperformance. Trian's plan includes refining Disney Parks strategy, developing a direct-to-consumer strategy, improving accountability, and enhancing cost structure. Trian criticizes Disney's late entry into streaming, poor acquisitions, and suggests a CEO succession plan. Disney faces another activist challenge from Blackwells Capital, suggesting a spin-off of real estate holdings and investment in virtual/augmented reality. Disney's annual meeting on April 3 is highly anticipated amid these activist battles.

Portfolio Pulse from Chris Katje

March 05, 2024 | 11:52 pm

CSGP

Z

ZG

Spruce Point Capital Management issued a bearish report on Zillow Group Inc, predicting a 40%-60% downside in its stock due to concerns over its Premier Agent program, litigation risks, competition from Homes.com, and questionable accounting practices. Zillow's stock closed 4.9% lower following the report.

Portfolio Pulse from Adam Eckert

March 05, 2024 | 9:29 pm

BAYRY

BAYZF

Bayer AG, under new CEO Bill Anderson, has decided to postpone any plans to split the company into separate units for the next three years, focusing instead on addressing current challenges, boosting performance, and creating strategic flexibility. The company is evaluating the potential separation of its Consumer Health or Crop Science divisions but has ruled out a three-way split. Bayer aims to focus on its pharmaceuticals pipeline, litigation, debt reduction, and implementing a new operating model to improve performance, expecting to cut annual costs by €2 billion from 2026. Fiscal year 2023 saw a decline in Crop Science sales, stable Pharmaceuticals sales, and an increase in Consumer Health sales. Bayer forecasts fiscal year 2024 sales between €47 billion to €49 billion, with adjusted EBITDA of €10.7 billion to €11.3 billion, and core earnings per share of €5.10 to €5.50.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 8:25 pm

JNJ

Johnson & Johnson announced a mistrial in the Sugarman case, reaffirming the safety of its Johnson's Baby Powder. The company stated the product does not contain asbestos and does not cause cancer.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 8:04 pm

AAPL

GOOGL

U.S. lawmakers are proposing legislation to force ByteDance to divest TikTok within six months or face a U.S. ban. The bill, supported by a bipartisan group, aims to address national security concerns related to Chinese ownership of the app. It would make it unlawful for app stores like those operated by Apple and Google to offer TikTok or provide services to ByteDance-controlled apps. The bill also grants the president powers to ban or restrict apps posing national security threats. This move follows previous unsuccessful efforts to regulate or ban TikTok, despite the White House's support for such measures.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 5:33 pm