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The escalating geopolitical tensions between China and Taiwan pose a significant risk to the Magnificent Seven tech giants, including Apple, Amazon, NVIDIA, Tesla, Meta Platforms, Alphabet, and Microsoft, as per Jeremy Grantham's GMO. These companies, with substantial revenue exposure and ties to Taiwan's chip industry, could face challenges in accessing crucial technologies for AI development.

Portfolio Pulse from Ananya Gairola

February 10, 2024 | 3:59 am

MSFT

SGAMY

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

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The S&P 500 index surpassed 5,000 points, driven by AI optimism. The 'Magnificent Seven' tech giants reached a $13 trillion market cap, while Palantir led the Russell 1000 with a 40% surge. Tesla's status is threatened as its market cap falls. Meta Platforms celebrates Facebook's 20th anniversary with significant returns. Novo Nordisk's weight-loss drugs impact the food industry, and Bill Ackman launches a retail investor fund. Amazon's Alexa faces privacy concerns amid AI enhancements.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 9:08 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares rose in premarket trading after rejecting five nominees from former Chairman Trevor Milton, who was convicted of fraud. Milton owes Nikola $165 million from a legal judgment. Nikola also opened its first HYLA hydrogen refueling station in Southern California, aiming for nine stations by Q2's end. Baird analyst Ben Kallo gave Nikola an Outperform rating with a $2 forecast.

Portfolio Pulse from Nabaparna Bhattacharya

February 09, 2024 | 2:28 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) has rejected a slate of five director nominees proposed by Trevor Milton's entity, M&M Residual, LLC, for its 2024 Annual Meeting. The nominees were deemed to lack public company experience and the necessary expertise for Nikola's zero-emissions trucking and energy infrastructure business. Milton, separated from Nikola since September 2020 and convicted of securities and wire fraud, has had no involvement in day-to-day operations. Nikola's Board, comprising experts in various fields relevant to the company's business, remains committed to its strategic initiatives and long-term financial strength.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 1:14 pm

SHCO

Soho House has publicly rejected a report by GlassHouse Research, criticizing it for factual inaccuracies, analytical errors, and misleading statements aimed at benefiting short-sellers by negatively impacting Soho House's stock price.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 12:35 pm

AAPL

German customs officials have been confiscating Apple Inc.'s Vision Pro headsets due to import tax issues, causing fines and potential year-long waits for travelers. The device, only available in the U.S., has seen a high demand with its resale price reaching $5,000 overseas. This situation highlights the complexities of international import duties and could impact global sales and buyer decisions.

Portfolio Pulse from Ananya Gairola

February 09, 2024 | 8:04 am

OPTT

Ocean Power Technologies (OPTT) has postponed its annual meeting for the third time until February 28, 2024, due to a lack of quorum. Paragon, led by Chairman and CEO Sham Gad, criticizes OPTT for its poor financial results and board actions, suggesting a disconnect with shareholders. Paragon is also investigating the legality of the meeting's adjournment under SEC rules.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 7:00 am

DOLE

Dole Fresh Vegetables has issued a recall for a limited number of salad kits due to a possible health risk from Listeria monocytogenes. This recall could potentially impact consumer trust and sales in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:49 am

TSLA

Tech analyst Dan Ives has called on Tesla Inc.'s board to secure Elon Musk's leadership through 2030 with a new compensation package, emphasizing the importance of Musk's role in AI and Full Self-Driving. This comes amid a tense climate following a court decision to nullify Musk's $56 billion stock compensation plan, prompting calls for corporate governance changes at Tesla.

Portfolio Pulse from Benzinga Neuro

February 09, 2024 | 6:28 am