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Ethereum's gas fees have been fluctuating, with significant drops and surges in recent times. In October 2023, fees dropped due to decreased DeFi, NFT, and Telegram bot activity, with top spenders like Binance and Coinbase spending 30% less. The shift to Ethereum 2.0 and a PoS consensus mechanism led to a 99.9% reduction in energy consumption and lower fees. However, events like Binance activating dormant wallets and the launch of Buterin Cards NFTs caused fees to spike. High gas fees have driven users towards alternative blockchains like BNB Chain, Solana, and Cardano. Social media users have expressed frustration with the high costs, often humorously.

Portfolio Pulse from Khyathi Dalal

December 06, 2023 | 11:11 pm

CME

CME Group has announced the extension of Chairman and CEO Terry Duffy's employment agreement through December 31, 2025. The Board, recognizing Duffy's leadership and expertise, believes his continued role is in the best interest of the company and its shareholders. Duffy, with over 40 years in the futures industry, has been in his current position since 2016 and has held various leadership roles within CME Group since 2002.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:07 pm

FSR

Fisker Inc. (NYSE:FSR) Chairman and CEO Henrik Fisker issued a statement defending the company against negative reports, claiming they are 'overblown' and highlighting the company's progress and industry firsts. Despite a 10% drop in the stock price during Wednesday's trading session, Fisker expressed confidence in the long-term prospects of the company, stating that the current share price does not reflect its positive attributes. Fisker stock saw a slight increase in after-hours trading.

Portfolio Pulse from Ryan Gustafson

December 06, 2023 | 11:03 pm

AMZN

GOOG

META

MSFT

Google has launched 'Gemini', an AI software designed to compete with OpenAI's GPT-4. Gemini boasts superior math, coding, and reasoning capabilities and can process video, image, or voice inputs. This move is part of a tech industry arms race involving companies like Microsoft, Facebook, and smaller firms like OpenAI. Google's Bard will integrate Gemini, enhancing its features. Microsoft's Bing, OpenAI's GPT4, Google's Bard, Meta's Llama 2, OpenAI's GPT Store, and Amazon's Q are all part of the competitive landscape in AI development.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:57 pm

ADOC

Edoc Acquisition Corp. has received a notice from Nasdaq due to the late filing of its quarterly report on Form 10-Q. The notice is a standard procedure for non-compliance with Nasdaq's filing requirements, which could lead to delisting if not remedied.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:30 pm

AI

C3.ai Inc (NYSE:AI) reported Q2 financial results with a revenue increase of 17% year-over-year to $73.23 million, missing estimates by $1.1 million. The company beat EPS estimates with an adjusted loss of 13 cents per share versus the expected 18 cents. Subscription revenues grew by 12%, and customer engagement by 81%. C3.ai closed 62 customer agreements, including 36 pilots, and ended the quarter with $762.3 million in cash and investments. The company expressed strong interest in generative AI offerings and plans to invest further in this area, expecting to accelerate growth and gain market share. C3.ai provided a Q3 revenue outlook of $74 million to $78 million and reaffirmed full-year 2024 revenue projections of $295 million to $320 million. After the report, C3.ai shares dropped 8.88% in after-hours trading.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 10:19 pm

ABBV

CERE

Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) shares rose in after-hours trading following the announcement that AbbVie Inc. (NYSE:ABBV) will acquire the company for approximately $8.7 billion. AbbVie will purchase all outstanding CERE shares at $45 each in cash, with the deal expected to close in mid-2024. AbbVie's CEO highlighted the acquisition's enhancement to their neuroscience portfolio and potential for significant growth and multibillion-dollar sales across Cerevel's assets.

Portfolio Pulse from Ryan Gustafson

December 06, 2023 | 10:14 pm

AMD

META

MSFT

NVDA

ORCL

AMD's new AI chip, the Instinct MI300X, is being adopted by Meta, Microsoft, and OpenAI, challenging Nvidia's market dominance. The chip, with 192GB of HBM3 memory, is set to release next year and is expected to be a cost-effective alternative to Nvidia's GPUs. Meta will use it for AI tasks, and Microsoft will offer it through Azure. Oracle's cloud will also integrate these GPUs. Despite the positive news, AMD's stock fell 1.3%, while Nvidia's dropped 2.3% amidst a broader tech sector decline.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 10:10 pm

HPCO

Hempacco's stock is trading higher following the announcement of an exclusive Master Distribution Agreement with CBDAY Global, which will sell Hempacco's hemp and CBD products exclusively in India and Thailand.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:08 pm

YQ

17 Education & Technology (NASDAQ:YQ) experienced a significant decrease in sales, reporting $6.20 million this quarter, which is a 64.60% drop from $17.51 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:04 pm