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MSFT

OpenAI's CEO, Sam Altman, proposed the UAE as a 'regulatory sandbox' for AI technologies at the World Governments Summit. He emphasized the need for global AI policy and highlighted the UAE's strategic position. Altman's discussions also aim to support a semiconductor initiative to advance AI technology. OpenAI plans to make some AI models public and develop tools for economically disadvantaged nations. OpenAI's revenue is $2 billion, expected to double by 2025. Microsoft invested $10 billion in OpenAI in 2023.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 1:08 pm

PHAT

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) announced that its VOQUEZNA tablets for Erosive GERD and associated heartburn have been added to Express Scripts' national formularies for commercial plans, effective immediately. VOQUEZNA is the first FDA-approved potassium-competitive acid blocker and a new class of treatment for Erosive GERD in the U.S. in over 30 years. This inclusion is expected to provide access to approximately 60 million covered lives in the U.S. Phathom is also engaging with other major PBMs and health plans to expand coverage and offers co-pay assistance for eligible patients.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:07 pm

FELE

Franklin Electric projects its FY24 sales to range between $2.10B and $2.17B, compared to the estimated $2.14B. The company also forecasts EPS to be between $4.22 and $4.40, against an estimate of $4.37.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:06 pm

AXP

HII

MC

SNAP

Notable insider sales were reported for Snap Inc. (SNAP), Moelis & Company (MC), American Express Company (AXP), and Huntington Ingalls Industries, Inc. (HII). These sales come amidst various company-specific developments, such as Snap's repurchase transactions, Moelis's narrower-than-expected quarterly loss, American Express's fiscal fourth-quarter revenue and EPS missing consensus, and Huntington Ingalls's stronger-than-expected earnings.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 1:06 pm

BB

BlackBerry Ltd (NYSE:BB) is implementing strategic cost-saving measures aimed at achieving $100 million in annualized net profit improvements, building on previous savings of $50 million. The company has already identified and implemented $55 million of this target in the current quarter. BlackBerry is progressing towards operating cash flow positivity by Q4 FY25, having reduced its debt by 45% and maintaining a strong revenue outlook. The company is also streamlining its cost structure, including job cuts and exiting six global office locations, as part of its efforts to enhance profitability and growth.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 1:03 pm

PLCE

Analyst ratings for Children's Place (NASDAQ:PLCE) show a bearish trend with a significant decrease in the average 12-month price target from $29.75 to $15.00, a 49.58% drop. Recent actions by analysts include lowering ratings and price targets, reflecting concerns over the company's performance and market conditions. Despite challenges in revenue growth and a high debt-to-equity ratio, Children's Place maintains a strong market position with a notable net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 1:00 pm

PAYO

Four financial analysts have recently shared mixed evaluations of Payoneer Global (NASDAQ:PAYO), with a consensus leaning towards a bullish outlook despite a decrease in the average 12-month price target from $7.50 to $7.00. The company has shown significant revenue growth of 30.91% over the past three months, outperforming its peers in the Financials sector. However, it faces challenges in profitability, asset utilization, and equity capital efficiency, as indicated by below-average net margin, ROA, and ROE. Payoneer's prudent financial strategy is reflected in its low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 1:00 pm

PWR

Quanta Services (NYSE:PWR) received mixed analyst ratings in the last quarter, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for PWR is $230.75, marking a 3.48% increase from the previous target of $223.00. Analysts from Evercore ISI Group, Citigroup, and Stifel have recently adjusted their ratings and price targets, reflecting optimism about the company's performance and market position. Quanta Services, a leader in specialty contracting services, has shown strong financial health with significant revenue growth, high net margin, and effective debt management.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 1:00 pm

DIA

GLD

QQQ

SPY

USO

On February 12th, U.S. stock markets ended mixed with the Nasdaq down, the Dow up, and the S&P 500 slightly down. Japan's Nikkei 225 surged, led by gains in several sectors, while European markets and Australia's S&P/ASX 200 saw declines. Crude oil prices increased, and the U.S. dollar index slightly fell.

Portfolio Pulse from Akanksha Bakshi

February 13, 2024 | 12:56 pm

USO

OPEC has maintained its global oil-demand growth forecasts, projecting a growth of 2.2 million barrels per day (B/D) for 2024 and 1.8 million B/D for 2025, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

February 13, 2024 | 12:54 pm