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GM

TSLA

General Motors (GM) plans to invest $850 million in its loss-making Cruise self-driving unit, which has incurred significant losses and faced operational challenges. Tesla CEO Elon Musk criticized the move, suggesting GM is not making the right decisions. Tesla's own self-driving technology is still under development and faces regulatory hurdles.

Portfolio Pulse from Shanthi Rexaline

June 12, 2024 | 9:23 am

ZH

Zhihu reported its Q1 2024 financial results, highlighting total revenues of RMB960.9 million (US$133.1 million), a gross margin expansion to 56.6%, and a net loss of RMB165.8 million (US$23.0 million). The company also reported 89.0 million average monthly active users and 14.8 million average monthly subscribing members.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 9:18 am

ZH

Zhihu reported Q1 sales of $133.08 million, surpassing the estimated $124.00 million.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 9:12 am

AAPL

Apple Inc. (NASDAQ:AAPL) has introduced 'Apple Intelligence,' a suite of AI-powered features, following a similar branding approach by Jack Ma of Alibaba Group, who called AI 'Alibaba Intelligence' in 2019. The announcement has reignited discussions about AI branding, especially given the historical debate between Ma and Elon Musk. Apple's new features include enhancements to Siri, generative AI tools, and photo editing capabilities.

Portfolio Pulse from Rounak Jain

June 12, 2024 | 9:00 am

AAPL

Tim Cook has expressed doubts about Apple's ability to completely prevent AI hallucinations in its new Apple Intelligence system. Despite efforts to ensure high quality, Cook admits the technology is not 100% foolproof. The system, introduced at the WWDC, includes AI features for iPhone, iPad, and Mac, and Apple has partnered with OpenAI to integrate ChatGPT into Siri.

Portfolio Pulse from Ananya Gairola

June 12, 2024 | 8:45 am

AAPL

Needham analyst Laura Martin expressed skepticism about Apple's recent WWDC announcements, suggesting the presentation lacked substance and failed to address generative AI adequately. Despite a recent stock rally, Martin remains cautious about Apple's long-term prospects, citing minimal revenue growth and a focus on stock buybacks over capital expenditure.

Portfolio Pulse from Shanthi Rexaline

June 12, 2024 | 8:33 am

AVGO

MAMA

ORCL

OXM

PLAY

Key stocks to watch on Wednesday include Broadcom, Oracle, Dave & Buster's, Mama's Creations, and Oxford Industries. Broadcom is expected to report strong earnings, Oracle posted weaker-than-expected earnings but announced a partnership with Google Cloud, Dave & Buster's and Oxford Industries are set to release earnings, and Mama's Creations posted downbeat earnings.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 8:00 am

TSLA

Elon Musk faces allegations of intimate relationships with female colleagues at SpaceX, raising concerns about a culture of sexism and harassment. SpaceX President Gwynne Shotwell refutes the claims, calling them misleading. The news could impact investor sentiment towards Musk's companies, including Tesla, which is currently holding a shareholder vote on Musk's $46 billion pay package.

Portfolio Pulse from Benzinga Neuro

June 12, 2024 | 7:54 am

AAPL

AVGO

GM

OXM

PLAY

The S&P 500 and Nasdaq hit record highs as Apple shares surged following an upgrade by DA Davidson. The CNN Money Fear and Greed index showed improved market sentiment, remaining in the 'Neutral' zone. General Motors saw gains after announcing a $6 billion share repurchase authorization. Investors are awaiting the Federal Reserve's interest-rate decision and consumer price index, as well as earnings results from Broadcom, Dave & Buster’s, and Oxford Industries.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 7:39 am

TSLA

Tesla's annual shareholder meeting will decide on CEO Elon Musk's controversial compensation plan, which could significantly impact Tesla's stock. The plan has faced legal challenges and mixed analyst predictions, with potential stock price volatility depending on the outcome.

Portfolio Pulse from Shanthi Rexaline

June 12, 2024 | 7:21 am