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Microsoft CEO Satya Nadella is satisfied with the company's partnership with OpenAI, indicating no desire for greater control despite a $13 billion investment. Microsoft has integrated ChatGPT technology into its products and maintains its own AI development. Nadella sees AI as key to future hardware development. Microsoft surpassed Apple as the most valuable company but Nadella views market cap as a lagging indicator, focusing instead on innovation. Analysts from Piper Sandler and Mizuho maintain positive ratings on Microsoft, seeing the OpenAI partnership as strategic for AI leadership. Microsoft's stock outperformed Invesco QQQ Trust last year and traded higher in premarket.

Portfolio Pulse from Anusuya Lahiri

January 16, 2024 | 2:41 pm

CVNA

JMP Securities analyst Nicholas Jones has reiterated a 'Market Outperform' rating on Carvana (NYSE:CVNA) and maintained a price target of $60.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:41 pm

BPMC

JMP Securities analyst Reni Benjamin has reiterated a 'Market Outperform' rating on Blueprint Medicines (NASDAQ:BPMC) and maintained a price target of $114.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:39 pm

ACVA

JMP Securities analyst Nicholas Jones has maintained a Market Outperform rating on ACV Auctions (NASDAQ:ACVA) but reduced the price target from $20 to $19.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:38 pm

AAPL

SPY

The U.S. Supreme Court has declined to hear Apple's appeal in the legal challenge brought by Epic Games against App Store rules. This decision leaves in place a lower court's ruling, which could have implications for Apple's App Store operations and revenue.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:37 pm

BTCUSD

CHZUSD

ENSUSD

ETHUSD

KLAYUSD

Bitcoin (BTC) saw a slight increase, trading just below the $43,000 mark, while Ethereum (ETH) experienced a minor decline, staying under $2,600. Chiliz (CHZ) and Klaytn (KLAY) were among the top gainers in the crypto market, with significant 24-hour increases in price. The global crypto market cap rose by 0.5% to $1.69 trillion. Ethereum Name Service (ENS) was the biggest loser with a 12.8% drop in price. Other notable losers included Sui (SUI), Aptos (APT), Tezos (XTZ), and Ethereum Classic (ETC).

Portfolio Pulse from Avi Kapoor

January 16, 2024 | 2:36 pm

RVP

SHWZ

TLRY

Insiders at Retractable Technologies, Tilray Brands, and Medicine Man Technologies have recently purchased shares of their respective companies, signaling potential confidence in their future prospects. Retractable Technologies' CEO acquired shares at $1.14 each, despite the company reporting an operational loss for the first nine months of 2023. Tilray Brands saw purchases by its President and CEO, CFO, and Global General Counsel, following an agreement with Double Diamond Holdings. Medicine Man Technologies' Chief Legal Officer also bought shares, with the company reporting an 8% revenue increase in Q3.

Portfolio Pulse from Avi Kapoor

January 16, 2024 | 2:36 pm

AAPL

SPY

The U.S. Supreme Court has declined to hear an appeal by Epic Games in its antitrust case against Apple, effectively upholding lower court decisions. This development is a setback for Epic Games, which had challenged Apple's App Store policies, alleging they constitute monopolistic practices. The refusal to hear the case means that Apple's current App Store model, including its payment systems and commission structure, remains intact without further legal challenge from this case.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:36 pm

Goldman Sachs Group Inc (NYSE:GS) reported a Q4 2023 GAAP EPS of $5.48, beating the consensus of $3.43. Despite a 24% Y/Y dip in net income for fiscal 2023, Q4 net income rose 51% to $2 billion. Q4 revenue was $11.32 billion, up 7% Y/Y, with Asset & Wealth Management revenue increasing 23% Y/Y to $4.39 billion. The firm hit its $225 billion alternatives fundraising target. GS shares rose 0.25% to $378.69.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 2:35 pm

DWAC

Shares of Digital World Acquisition Corp (NASDAQ:DWAC) rose after former President Donald Trump won the Iowa caucus with 51% of the vote. Trump's victory margin set a new record for the Iowa Republican caucus. Digital World is a SPAC planning to merge with Trump Media & Technology Group, which operates the Truth Social app. Trump's lead in the Republican primary race and his association with Digital World likely contributed to the stock's positive movement.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 2:31 pm