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LG Energy Solution and Toyota have signed a long-term battery supply agreement. LG Energy Solution will supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025. The modules will be produced in LG Energy Solution's Michigan facility and used to power a new BEV model assembled in North America, at Toyota Motor Manufacturing Kentucky, among others.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 7:06 pm

AAPL

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc., has launched Pixel Watch 2, a competitor to Apple's Watch Series 9. The Pixel Watch 2 is priced at $349, $50 less than the base Apple Watch Series 9. Both watches offer impressive screens, but the Apple Watch Series 9 has twice the brightness of the Pixel Watch 2. Google's watch leverages Fitbit technology for health tracking, while Apple's watch offers features like an ECG app and blood oxygen measurements. Google claims the Pixel Watch 2 can last 24 hours with the always-on display, while Apple promises up to 18 hours of battery life.

Portfolio Pulse from Ananya Gairola

October 04, 2023 | 6:54 pm

SPOT

Morgan Stanley analyst Benjamin Swinburne has maintained an Overweight rating on Spotify Technology SA (NYSE:SPOT) with a price target of $185. Spotify is entering the audiobooks market, starting with the U.K. and Australia. The offer will include 15 hours of free listening for Premium subscribers. The analyst believes this move will lower churn and increase pricing power for Spotify, and that it was factored into both 2023 guidance and the intermediate and long-term plans.

Portfolio Pulse from Shivani Kumaresan

October 04, 2023 | 6:36 pm

MSFT

ZM

Stifel analyst J. Parker Lane has reiterated a Hold rating on Zoom Video Communications, Inc. (ZM), lowering the price target to $70 from $75. The analyst noted Zoom's decision to include AI Companion at no additional cost for paid users, a feature competitors charge $30-$50 per seat for. Despite a slowdown in revenue growth, Zoom's AI Companion and the announcement of Zoom Docs, an AI-powered workspace, could enhance user experience and increase platform stickiness. Benchmark analyst Matthew Harrigan reiterated a Buy rating on Zoom, with an unchanged price target of $95.

Portfolio Pulse from Nabaparna Bhattacharya

October 04, 2023 | 6:21 pm

MSFT

Chicago's Personal Property Lease Transaction Tax now applies to OpenAI's ChatGPT, adding a 9% tax for users of its premium version. The tax law states that charges incurred for the ability to use a provider’s computer to input, modify, or retrieve data are taxable. This includes AI platforms like ChatGPT, which is backed by Microsoft Corp. The tax has exemptions for small businesses, government bodies, educational institutions, and other entities.

Portfolio Pulse from AJ Fabino

October 04, 2023 | 5:53 pm

DIS

Rumors are circulating that musician Taylor Swift may make a cameo in the highly anticipated 'Deadpool 3' movie, set to release in 2024. The rumors were fueled by Swift's appearance at a Kansas City Chiefs game with Ryan Reynolds and Hugh Jackman, both of whom are part of the 'Deadpool 3' cast. If Swift does appear in the movie, it could potentially boost the box office performance, possibly helping it reach the $1 billion milestone that Disney (NYSE:DIS) failed to achieve in 2023.

Portfolio Pulse from Chris Katje

October 04, 2023 | 5:38 pm

NVAX

Novavax shares are trading lower despite the FDA granting Emergency Use Authorization for the company's updated protein-based COVID-19 vaccine for people aged 12 and older. This comes after a recent gain in the stock.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 5:38 pm

NVDA

TSM

Semiconductor manufacturer Kneron has raised an additional $49 million in a Series B funding round, with contributions from Foxconn Technology Group and Horizon Ventures, among others. The funding will be used to accelerate the commercialization of Kneron's artificial intelligence (AI) chips, which are designed for use in consumer electronics and automobiles. The chips are cheaper than those produced by Nvidia, and are seen as a potential rival to Nvidia's dominance in the AI chip market. Kneron's chips are produced by Taiwan Semiconductor Manufacturing Co. (TSMC), but the company plans to diversify its production to manufacturers in the U.S. and Europe due to rising tensions between the U.S. and China.

Portfolio Pulse from Aditi Ganguly

October 04, 2023 | 5:26 pm

GOOG

GOOGL

MSFT

Google, a subsidiary of Alphabet Inc., has announced 'Assistant with Bard', a new generative AI-powered personal assistant. The new assistant combines the personalized help of Google Assistant with the generative and reasoning skills of Bard. The company plans to roll out the new assistant to early testers on Android and iOS in the coming months. This move comes after Google was outdone by Microsoft-backed OpenAI's ChatGPT.

Portfolio Pulse from Rounak Jain

October 04, 2023 | 5:22 pm

AAPL

Apple has released a software update to address the overheating issue in iPhone 15, according to a company spokesperson.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 5:14 pm