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MSFT

Sam Altman, CEO of OpenAI, was reportedly dismissed following a staff letter about a significant AI breakthrough named Q*. Elon Musk expressed extreme concern over the development. The AI, Q*, is a step towards AGI and has shown the ability to solve certain mathematical problems. Over 700 employees considered leaving for Microsoft due to the revelation. Altman is set to return as CEO with a new board. Earlier, Musk had called for a pause in advanced AI development, to which Altman had responded skeptically.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 12:25 am

BGXX

Bright Green Corporation (NASDAQ:BGXX) reported its Q3 2023 financial results with no revenues, reduced operating expenses from $5.8 million in Q3 2022 to $1.8 million, and a net loss of $1.9 million, which was in line with expectations. The company, under executive chairman Terry Rafih, is a DEA-registered entity for cannabis research and pharmaceutical purposes. It appointed Groovy Singh as CEO, executed an EB-5 capital raising program, and settled $3.6 million in debt with shares and warrants. BGXX also applied for regulatory approval to produce additional controlled substances and joined the Russell 3000 Index in June 2023. The stock traded down at $0.2878 per share, a 3.10% decrease.

Portfolio Pulse from Joana Scopel

November 22, 2023 | 10:57 pm

AMZN

GOOGL

MSFT

OpenAI's leadership turmoil has prompted rivals like Google and Amazon to target its customers with incentives to switch platforms. Google is matching OpenAI's pricing and offering cloud credits and support for customers to use its AI software. Amazon emphasizes the value of its strategy, allowing customers to choose from multiple AI systems. OpenAI, with Microsoft's $13 billion investment, remains a large player, but companies are now considering diversifying their AI suppliers to avoid overreliance on a single provider. OpenAI has reinstated Sam Altman as CEO and named a new board to address concerns. Competitors are quickly moving to capitalize on the situation, with some reporting increased interest from businesses.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:21 pm

AAPL

CMCSA

DTC

MCD

NFLX

PARA

WBD

The 97th Macy's Thanksgiving Day Parade will feature new balloons and floats from various companies. Comcast's NBC will broadcast the event, showcasing its properties with a new balloon and float. Paramount Global will feature the Good Burger Mobile and a Teenage Mutant Ninja Turtles float. Warner Bros. Discovery will present a Wonka-themed float. Solo Brands' Solo Stove will have a float emphasizing family memories. Netflix will debut a balloon for its film 'Leo' and highlight the 'One Piece' series. Apple's Peanuts franchise will introduce Beagle Scout Snoopy, and McDonald's will showcase its characters. The parade will also mark the first inclusion of an NFT collection with Cool Cats' balloon.

Portfolio Pulse from Chris Katje

November 22, 2023 | 8:09 pm

AMZN

CRWD

CrowdStrike Holdings, Inc. has launched its AI-powered cybersecurity solution, Falcon Go, targeting small and medium businesses (SMBs) on Amazon Business, Amazon.Com, Inc.'s B2B platform. This is CrowdStrike's first offering on Amazon Business and represents a significant expansion of its SMB distribution channels. Falcon Go is based on the AI-native Falcon platform, known for its high efficacy in ransomware prevention. To celebrate the launch, CrowdStrike is offering Falcon Go at a discounted price during the Black Friday to Cyber Monday shopping period. CrowdStrike's stock (CRWD) saw a slight increase of 0.39% to $209.80.

Portfolio Pulse from Nabaparna Bhattacharya

November 22, 2023 | 7:51 pm

ADSK

Mizuho analyst Matthew Broome downgraded Autodesk's price target from $220 to $200 while maintaining a Neutral rating, citing concerns over Autodesk's new transaction model that requires indirect customers to transact directly with the company. This change, which began in Australia and will roll out globally, could strain relationships with resellers. Despite solid Q3 results, Autodesk's FY25 revenue guidance of 9%+ growth is below expectations and its long-term target, reflecting a challenging operating environment. Autodesk's stock dropped 5.59% to $205.51.

Portfolio Pulse from Nabaparna Bhattacharya

November 22, 2023 | 6:34 pm

EADSY

Airbus SE's Defence and Space unit in the U.K. has received a £3.9 million grant from the U.K. Space Agency to create a space and connectivity catalyst at its Stevenage headquarters. This initiative, part of the Community for Space Prosperity (CUSP) program, aims to foster growth in the U.K. space supply chain, research, and outreach activities. The new facilities will be available to new and existing space industry players, offering laboratories, test facilities, and access to Airbus' skilled workforce.

Portfolio Pulse from Nabaparna Bhattacharya

November 22, 2023 | 6:27 pm

TXT

Textron Aviation, a Textron Inc. (NYSE:TXT) company, has announced an agreement with BAA Training for the purchase of 48 Cessna Skyhawk aircraft, to be delivered in 2026. The deal, signed at the Dubai Airshow, will expand BAA Training's fleet and enhance the flight training process. The Cessna Skyhawk is known for its stable flight characteristics and reliability, making it a popular training aircraft. BAA Training aims to increase its student capacity to 500-1000 per year, and the new aircraft will support this growth.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 6:08 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) stock rose after OpenAI reinstated Sam Altman as CEO, with a new board including Bret Taylor and Larry Summers. Wedbush analyst Daniel Ives views this as positive, reinforcing Microsoft's relationship with OpenAI. Ives maintains an Outperform rating on Microsoft with a $425 price target. MSFT shares were up 1.48% at $378.61.

Portfolio Pulse from Anusuya Lahiri

November 22, 2023 | 5:25 pm

AMZN

Amazon.com, Inc (NASDAQ:AMZN) stock rose on Wednesday following reports of founder Jeff Bezos' plans to sell 8-10 million shares, worth over $1 billion. Bezos, who still owns nearly 10% of Amazon, has been increasing his philanthropic efforts and funding his space venture, Blue Origin, by selling Amazon stock annually. Additionally, Amazon is collaborating with the NFL to broadcast a 'Black Friday' football game on Prime Video, featuring exclusive deals and 'shoppable ads' to boost ratings and sales.

Portfolio Pulse from Anusuya Lahiri

November 22, 2023 | 4:44 pm