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GOOG

GOOGL

MSFT

OpenAI, supported by Microsoft, is developing a web search tool to compete with Google, potentially integrating it with ChatGPT. This move intensifies the rivalry between Microsoft's Bing and Google, despite Bing's struggle to significantly increase its market share. Microsoft's continued investment in OpenAI, including a recent $10 billion, underscores the strategic importance of this initiative. However, there's a risk of functionality overlap between OpenAI's search tool and Bing, potentially cannibalizing each other's market.

Portfolio Pulse from Ananya Gairola

February 15, 2024 | 9:20 am

FUN

Cedar Fair (NYSE:FUN) reported Q4 sales of $371.12M, surpassing the $366.96M estimate, marking a 1.13% beat and a 1.40% increase YoY. However, the company experienced a net loss of $10M compared to a net income of $12M in the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:02 am

AAPL

TSM

Apple Inc. is set to enhance its next-generation chipsets, the M4 and A18, with improved Neural Engines for better AI efficiency in iOS 18. A supply chain report indicates a 50% increase in Apple's orders for 3nm processors from Taiwan Semiconductor Manufacturing Co Ltd., hinting at a significant investment in TSM operations. The M4 series and A18 processor are expected to power future iPhones and Macs, with the iPhone 16 featuring the A18 slated for a September release. The advancements in AI, including a supercharged Siri, are part of Apple's strategy to compete with tech giants like Alphabet Inc. and Microsoft Corp.

Portfolio Pulse from Rounak Jain

February 15, 2024 | 8:19 am

BYDDY

Ford Motor Co views Chinese EV makers as a significant strategic threat to its business in the U.S., with Ford's EV COO Marin Gjaja highlighting the technological advancements and strategic moves, such as potential factory setups in Mexico by Chinese companies like BYD Co Ltd, to circumvent U.S. tariffs. Ford is focusing on cost and efficiency in its EV development to compete with Tesla and affordable Chinese EVs.

Portfolio Pulse from Anan Ashraf

February 15, 2024 | 8:15 am

REVG

REV Group has announced an upsized secondary offering of 16 million shares at $16.50/share, with an option for underwriters to buy an additional 2.4 million shares. REV Group itself is not selling any shares and will not receive proceeds from the sale. The offering is expected to close around February 20, 2024. Additionally, REV Group plans to repurchase 8 million shares from the offering at approximately $15.76/share, using cash and borrowings. Baird, Goldman Sachs, Morgan Stanley, and D.A. Davidson & Co. are managing the offering.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:46 am

AIR

TGI

AAR has upsized its offering of senior notes to $550 million at a 6.750% interest rate, due 2029, to finance the acquisition of Triumph Group's Product Support business. The offering, initially set at $500 million, is expected to close by March 1, 2024. The proceeds will fund a portion of the acquisition cost.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:44 am

BTCUSD

ETHUSD

On Valentine's Day, Bitcoin's price surge to $52,000 led to $180 million in short crypto liquidations, marking a two-year peak. This event caused significant losses for traders, with over $90 million in Bitcoin shorts and around $40 million in Ethereum shorts liquidated. The cryptocurrency market is showing signs of 'greed' as investor sentiment reaches a value of 71 on the Crypto Fear & Greed Index. The overall market cap is nearing $2 trillion, with Bitcoin's market cap surpassing $1 trillion.

Portfolio Pulse from Mehab Qureshi

February 15, 2024 | 7:42 am

ABNB

COIN

DBX

LYFT

USFD

U.S. stocks closed higher with the Dow Jones up by 161 points, influenced by improved investor sentiment as indicated by the CNN Money Fear and Greed index remaining in the 'Greed' zone. Lyft shares surged 35% after positive Q4 results and guidance, while Airbnb shares dropped 2% following its Q4 financial report. The S&P 500 and Nasdaq also saw gains, with industrials, information technology, and communication services leading. Investors are looking forward to earnings from US Foods Holding, Deere & Company, Coinbase Global, and Dropbox.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 7:39 am

COIN

CSCO

HUBS

USFD

Cisco Systems reported better-than-expected Q2 results but weak full-year 2024 guidance and a workforce cut plan, causing shares to drop. US Foods Holding is expected to report earnings with shares slightly up. Deere & Company's earnings anticipation caused a minor share decrease. HubSpot reported strong Q4 results and FY24 guidance, boosting shares. Coinbase Global is expected to report a quarterly loss, yet shares increased.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 7:37 am

PFE

Pfizer Inc (NYSE:PFE) has agreed to pay $93 million to settle an antitrust lawsuit over its cholesterol drug Lipitor, accused of delaying generic versions with Ranbaxy Laboratories. The settlement, pending judge approval, ends over a decade of legal battles without Pfizer admitting liability. The lawsuit against Ranbaxy, now owned by Sun Pharma, continues. This adds to Pfizer's recent legal challenges, including patent infringement lawsuits and allegations of misleading COVID-19 vaccine efficacy.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 7:24 am