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ZM

Zoom Video Communications (ZM) stock is trading higher amid reports of the company increasing its technology investments in the Asia-Pacific region to boost growth. The company is optimistic about the growth of its phone product in the region. Zoom's cloud-based phone solution now makes up 10% of its revenue. The company is also investing in AI, including a recent investment in Anthropic, an AI safety and research company. In Q1, Zoom reported total revenue of $1.11 billion, up 3% YoY, beating estimates.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 10:38 am

MCD

McDonald's India's North and East divisions have announced the removal of tomatoes from their menu items due to seasonal procurement challenges. The company is facing difficulties in securing tomatoes that meet its quality control standards due to seasonal disruptions. India's tomato prices have increased due to heavy rainfall and seasonal issues affecting supply chains, transportation, and crop quality. McDonald's India assures this is a temporary situation and plans to reintegrate tomatoes into its menu as soon as possible.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 07, 2023 | 10:35 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher amid reports of China looking to end its regulatory overhaul on fintech affiliate Ant Group with a penalty of $1.1 billion. The penalty will help Ant Group secure a financial holding company license and revive its listing plans. Alibaba also announced that its AI image generator will be initially available to enterprise customers in beta form.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 10:33 am

BONEUSD

SHIBUSD

Shiba Inu's lead developer, Shytoshi Kusama, has announced the launch of Shibarium, a layer 2 blockchain solution, in August. Shibarium aims to address scalability issues and reduce transaction fees. The launch will coincide with the release of the 'World paper', a comprehensive guide to the SHIB ecosystem, and the launch of DoggyDAO, a funding mechanism for blockchain projects. The news comes as the Shibarium testnet crossed 25 million transactions. Meanwhile, SHIB's price fell by 5.08%, while BONE rose by 4.98%.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 10:09 am

GOOGL

TSM

Google, a subsidiary of Alphabet Inc., has delayed the launch of its first fully-custom designed Tensor chipset to 2025, a year later than initially planned. The delay is due to a hold-up in the transition from Samsung to Taiwan Semiconductor Manufacturing Company (TSMC). As a result, Samsung will continue to manufacture Tensor chipsets until 2024. The first Pixel smartphone with a TSMC-made Tensor chipset will be the Pixel 10 series in 2025.

Portfolio Pulse from Rounak Jain

July 07, 2023 | 9:57 am

AMZN

GOOG

GOOGL

MSFT

Amazon's CEO, Andy Jassy, has outlined the company's strategy to compete in the AI race against Microsoft and Google. Jassy dismissed the notion that Amazon is lagging behind, stating that the company is focusing on deeper advancements in AI rather than superficial applications. He highlighted Amazon Web Services (AWS) as a key part of this strategy, with AWS recently launching Bedrock, a generative AI service. Despite recent cost-cutting measures, Jassy emphasized that AI remains a strategic investment for Amazon.

Portfolio Pulse from Ananya Gairola

July 07, 2023 | 9:34 am

TSLA

Tesla Inc. has started laying off battery production workers at its Shanghai plant amidst a price war in China. The exact number of layoffs and specific reasons are unclear. Some employees have been offered transfers to other workshops. Automation equipment is being designed to potentially replace human labor on the battery production line. Despite layoffs, Tesla's deliveries from Shanghai rose almost 20% YoY in June. CEO Elon Musk is comfortable with making less money on each car sold, following several rounds of price cuts.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 9:27 am

META

Meta Platforms Inc. is considering allowing users to delete their Threads account without deleting their Instagram account. Currently, Threads is an extension of Instagram and deleting a Threads account also deletes the associated Instagram account. Threads has gained significant popularity, reaching 50 million users on its launch day and becoming the fastest app to hit 1 million users.

Portfolio Pulse from Rounak Jain

July 07, 2023 | 9:26 am

FXI

TSLA

Tesla has announced that it is increasing cash rewards for new buyers of Model 3 and Model Y vehicles in China, based on recommendations from existing owners. This information was cited from the company's Weibo account.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:48 am

NKLA

A fire that occurred at Nikola Corp's headquarters last month remains unsolved, with no evidence supporting arson. The fire affected multiple battery electric trucks, but no one was injured. This comes after the discovery of a significant defect in the battery module of Nikola’s electric trucks. Nikola reported retail sales of 66 battery-electric trucks for the second quarter and wholesale sales of 45 trucks. The company plans to introduce its hydrogen fuel cell electric truck this quarter.

Portfolio Pulse from Anan Ashraf

July 07, 2023 | 7:22 am