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AMZN

Amazon.Com Inc (NASDAQ:AMZN) reported record-breaking sales during its extended Black Friday and Cyber Monday event, with over 1 billion items sold. The event, which ran from November 17 to November 27, offered customers nearly 70% more savings than last year. CEO Doug Herrington stated that Amazon will continue to offer new deals daily until December 24. Popular items included COSRX Snail Mucin skincare, Fire TV sticks, Ring doorbells, and Bissell vacuum cleaners. U.S. consumers spent a record $12.4 billion on Cyber Monday, with total online sales for Cyber Week reaching $38 billion. AMZN shares were down 0.40% at $147.14 on the last check Tuesday.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 6:08 pm

AMZN

AWS has introduced four new capabilities to enhance its AWS Supply Chain service. These include Supply Planning for accurate forecasting and planning, N-Tier Visibility for improved planning and execution with suppliers, Supply Chain Sustainability for tracking carbon emissions and compliance data, and Amazon Q, an AI-powered assistant for risk management and scenario visualization. Companies like Boston Consulting Group, Equipment Depot, and Woodside Energy are already utilizing these new features.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:01 pm

ETHUSD

A total of 6,902.89 Ether (ETH) worth approximately $14.3 million was burned on Monday, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -7.42% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 6:00 pm

CMND

Clearmind Medicine's stock is trading higher following the announcement of positive results from its weight loss and metabolic disorder program.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:57 pm

DELL

NVDA

Dell Technologies Inc. has partnered with AI startup Imbue in a $150 million deal to create a high-performance computing cluster for training AI models focused on reasoning. Imbue, which recently raised $200 million with NVIDIA Corporation as an investor, is utilizing Dell PowerEdge servers with NVIDIA GPUs for this project. The collaboration aims to advance AI innovation, particularly in developing systems with enhanced reasoning capabilities. Dell's stock saw a slight decrease of 0.19% to $74.32.

Portfolio Pulse from Nabaparna Bhattacharya

November 28, 2023 | 5:56 pm

AMZN

Amazon Web Services (AWS) has introduced new generative AI capabilities in Amazon Connect, its cloud contact center service, to enhance customer service experiences. These capabilities include Amazon Q in Connect for real-time agent assistance, Amazon Connect Contact Lens for AI-generated summaries of customer conversations, Amazon Lex for easier chatbot and IVR creation, and Amazon Connect Customer Profiles for aggregating customer data. Companies like Choice Hotels, NatWest Group, NeuraFlash, Traeger Grills, and USAN are already using these features to improve productivity and customer satisfaction. The new features are designed to be easily implemented by non-technical business leaders and are generally available, with Amazon Connect Contact Lens in preview.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:52 pm

AMD

AMD has opened its largest global design center in Bengaluru, India, with plans to invest $400M over the next five years. The new campus, named AMD Technostar, will focus on semiconductor technology, including 3D stacking, AI, and machine learning, and will house around 3,000 engineers. The center will contribute to the development of CPUs, GPUs, SoCs, and FPGAs for various applications. AMD's India workforce constitutes 25% of its global employees. The stock was down 0.6% to $121.85.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 5:50 pm

AMZN

CHWY

ETSY

GOOGL

META

NKE

Cyber Monday saw consumers taking advantage of discounts, with online sales growth in various categories. Goldman Sachs, Adobe, Salesforce, and Mastercard reported sales growth, with electronics, footwear, sporting goods, and jewelry performing well. Raymond James noted a significant increase in active footwear sales. Consumers showed a preference for value, with increased use of 'buy-now-pay-later' and 'no-rush shipping' options. Promotions were prevalent, with Nike, Foot Locker, Etsy, and Chewy offering substantial discounts. Analysts expect promotions to continue into 2024 due to a weak macroeconomic environment and high inventory levels. Goldman Sachs recommends Amazon as a preferred investment in the sector, with Alphabet and Meta also well-positioned to benefit from digital advertising.

Portfolio Pulse from Neil Dennis

November 28, 2023 | 5:47 pm

GILD

Gilead Sciences has expressed confidence in the safety profile of its cancer treatments Tecartus and Yescarta, stating there is no evidence that these treatments cause new malignancies.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:46 pm

DELL

MSFT

NVDA

Micron Technology Inc. (MU) raised its revenue and earnings guidance for Q1 2024, signaling a potential end to the chip slump. However, shares dropped due to projected operating expenses of $990 million, exceeding analyst expectations. Dell Technologies Inc. (DELL) secured a $150 million deal with AI startup Imbue, which recently raised funds with Nvidia Corporation's (NVDA) involvement. Dell is also collaborating with Microsoft Corporation (MSFT) to implement Microsoft 365 Copilot, leveraging Dell's technology expertise.

Portfolio Pulse from Upwallstreet

November 28, 2023 | 5:22 pm