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Microsoft CEO Satya Nadella has admitted that exiting the smartphone industry was a mistake. The company shut down Windows Phone in 2017, two years after writing off its $7.6 billion acquisition of Nokia's smartphone business. Since then, Microsoft has attempted to re-enter the smartphone market with the Android-powered Surface Duo and Surface Duo 2. However, it's unclear if the company plans to launch a new phone.

Portfolio Pulse from Rounak Jain

October 25, 2023 | 7:00 am

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Warren Buffett-backed electric vehicle maker BYD Manufacturing Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) has been outperforming Tesla, Inc. (NASDAQ:TSLA) in China in terms of sales. California Governor Gavin Newsom praised BYD's ultra-luxury Yangwang U8 extended-range EV during a visit to China. BYD sold 286,903 new energy vehicles in September, compared to Tesla's 74,073 made-in-China vehicles. BYD expects its Q3 profits to increase by 67%-102% YoY due to strong sales and effective cost controls.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 6:10 am

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Alphabet Inc's self-driving technology unit, Waymo, is expanding its commercial ride-hailing service, adding over 100,000 people from its San Francisco waitlist. The company also announced that Austin will be the next city for its ride-hail service. This comes after Waymo and General Motors' Cruise received permits for 24/7 fare-based autonomous operations in San Francisco in August.

Portfolio Pulse from Anan Ashraf

October 25, 2023 | 6:04 am

General Motors' autonomous driving unit, Cruise, reported a 47% increase in losses from $497 million to $732 million in the last quarter due to ambitious scaling efforts. Despite this, GM's CEO Mary Barra remains optimistic about Cruise's growth and expansion. However, the California Department of Motor Vehicles suspended Cruise's autonomous vehicle deployment and driverless testing permits in San Francisco due to safety concerns. Morgan Stanley's Adam Jonas remains bullish on Cruise's prospects, predicting $1 billion in revenue by 2025.

Portfolio Pulse from Anan Ashraf

October 25, 2023 | 5:37 am

BTCUSD

Seattle-based company, Unciphered, has developed a method to crack the password of a decade-old IronKey model, potentially offering a chance to recover a lost fortune of 7,002 Bitcoins (CRYPTO: BTC), worth nearly $235 million. The IronKey belongs to Stefan Thomas, a Swiss crypto entrepreneur, who has lost the password to unlock it. Despite Unciphered's offer to help, Thomas has declined, having already made a deal with two other cracking teams.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 5:02 am

AAPL

Walter Isaacson, a well-known biographer, has stated that Apple Inc. (NASDAQ:AAPL) could be the most affected US company if economic tensions between the US and China continue to rise. Isaacson believes that Apple will find it challenging to decrease its reliance on China, which manufactures the majority of its products. His comments come after reports of sluggish iPhone 15 sales in China and difficulties faced by Apple's production side in the country.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 4:23 am

AAPL

Apple Inc. has announced a 'Scary Fast' event scheduled for October 30, with speculation that it may focus on new Mac products. The event will be online-only, leading some to believe that it may not showcase any major visual innovations. There is speculation that the event could unveil the M3 silicon chip, and potentially new MacBook Pro models. Apple has reportedly partnered with Taiwan Semiconductor Manufacturing Company Limited to develop the M3 chipset, which is expected to significantly boost performance for Apple's forthcoming Mac devices.

Portfolio Pulse from Ananya Gairola

October 25, 2023 | 3:30 am

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General Motors' autonomous vehicle subsidiary, Cruise, is pausing operations in San Francisco following a suspension from the California Department of Motor Vehicles (DMV) due to 'unreasonable risk' to public safety. The suspension comes after an accident involving a Cruise vehicle. Despite the incident, Cruise maintains that its vehicles are safer than human drivers in urban environments. The suspension could increase uncertainty for Alphabet's Waymo and Tesla's future autonomous robotaxi, potentially raising regulatory hurdles and decreasing customer uptake for autonomous ride-hailing due to safety concerns.

Portfolio Pulse from Anan Ashraf

October 25, 2023 | 3:27 am

ABNB

OpenAI CEO, Sam Altman, praised Airbnb CEO, Brian Chesky, for his dedication and support in the tech industry. Altman highlighted Chesky's willingness to work extensively on any topic and his interest in expanding his knowledge of AI. Earlier this year, Chesky expressed his excitement for AI, stating that Airbnb could uniquely benefit from AI's capabilities.

Portfolio Pulse from Ananya Gairola

October 25, 2023 | 2:36 am

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US stocks showed positive momentum on Tuesday with Dow Jones, NASDAQ, and S&P 500 indices rising. Microsoft, Alphabet, Snap, Amazon, and Tesla were the top stocks gaining attention. Microsoft reported a 13% YoY increase in its fiscal first-quarter revenue. Alphabet reported an 11% YoY increase in its third-quarter revenue. Snap announced a $500 million buyback program. Amazon received a Buy rating from Seaport analyst Aaron Kessler. Tesla hinted at a driving range for its upcoming Cybertruck comparable to or better than a Model X.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 1:30 am