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MSFT

OpenAI's CFO Sarah Friar revealed that 75% of the company's revenue comes from consumer subscriptions to ChatGPT. The company plans to double the price of ChatGPT over the next five years. OpenAI has reached 1 million paid users for its corporate ChatGPT versions and recently closed a $6.6 billion fundraising round.

Portfolio Pulse from Ananya Gairola

October 29, 2024 | 8:59 am

LKNCY

SBUX

Luckin Coffee, China's largest coffee chain, plans to re-enter the U.S. market with low-cost drinks after a fraud scandal led to its Nasdaq delisting. The company aims to challenge Starbucks by targeting cities with large Chinese populations and leveraging its affordable pricing strategy.

Portfolio Pulse from Benzinga Neuro

October 29, 2024 | 8:49 am

LCID

TTDKY

TDK Corp., a key Apple supplier, has partnered with McLaren Racing to enhance its presence in Formula E by supplying components for McLaren's electric cars. This move highlights TDK's focus on the growing EV market, where it sees significant opportunities.

Portfolio Pulse from Benzinga Neuro

October 29, 2024 | 8:31 am

TSLA

S&P Global Mobility forecasts a significant 11% year-over-year growth in U.S. light vehicle sales for October, with EVs expected to surpass 9% market share. Tesla aims to boost its annual vehicle delivery volume, needing to deliver over 514,926 vehicles in the last quarter to surpass last year's figures.

Portfolio Pulse from Anan Ashraf

October 29, 2024 | 8:12 am

PSO

Pearson reported a 5% growth in Q3 underlying group sales, excluding OPM and strategic review businesses, and is on track to meet full-year expectations. The company is advancing its 2024 strategic priorities, including a new deal with ServiceNow and expanding AI in its products.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:08 am

IDCC

InterDigital, Inc. has signed a global license agreement with OPPO Group, covering OPPO, realme, and OnePlus devices. This deal, along with existing agreements with Apple, Samsung, and Xiaomi, allows InterDigital to cover 70% of the global smartphone market. The agreement also resolves all pending litigations between InterDigital and OPPO.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:03 am

TSM

Chinese President Xi Jinping has urged U.S. President Joe Biden to change the U.S. language on Taiwan's independence, but the U.S. maintains its 'One China' policy. This ongoing tension impacts the global chip industry, particularly affecting Taiwan Semiconductor Manufacturing Co. (TSM).

Portfolio Pulse from Benzinga Neuro

October 29, 2024 | 8:01 am

MAIA

MAIA Biotechnology has secured $2.44 million in a private placement to fund the manufacturing of THIO for its Phase 2 THIO-101 trial in non-small cell lung cancer (NSCLC) and for working capital.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:43 am

BP

BP expects slightly higher upstream production in 2024 compared to 2023, with divestments exceeding $3 billion. Growth is anticipated in convenience and Castrol, while refining margins are expected to be lower. BP completed acquisitions of BP Bunge Bioenergia and Lightsource BP.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:36 am

BP

BP anticipates a decrease in upstream production and customer business volumes in Q4 2024 compared to Q3 2024. Fuels and refining margins are expected to remain sensitive to supply costs.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:27 am