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Sam Altman Rejoins OpenAI Board; Coinbase, MicroStrategy Surge Pre-Market Amidst Bitcoin’s Latest Milestone

Fernanda T
Latest News
March 11 2024 6:39AM

OpenAI – Sam Altman, CEO of OpenAI, returns to the board along with three new directors, following a WilmerHale investigation into his dismissal last November. The company has strengthened its governance rules and conflict of interest policy, with unanimous board support.

Coinbase (NASDAQ:COIN), MicroStrategy (NASDAQ:MSTR), Marathon Digital (NASDAQ:MARA) – In pre-market trading, Coinbase registers a 6.6% increase, while MicroStrategy jumped 7% and Marathon Digital rose 6.35%, driven by Bitcoin’s appreciation over the last 24 hours.

Nvidia (NASDAQ:NVDA) – Nvidia faces a lawsuit from three authors for using their books without permission to train NeMo, its AI platform. They seek compensation, adding to a wave of litigation related to generative AI. Nvidia lost $128 billion in market capitalization on Friday, ending a six-session winning streak for the chip company. Nvidia recorded a 1.52% increase in pre-market trading.

Apple (NASDAQ:AAPL) – Apple will open its eighth store in Shanghai this month, strengthening its presence in China despite a slowdown in iPhone sales. The new store, Apple Jingan, will be one of 47 in the country, part of the technology giant’s ongoing expansion.

Microsoft (NASDAQ:MSFT) – Hackers linked to Russian foreign intelligence attempted to breach Microsoft’s systems again, using stolen corporate email data in January. The company, whose products are widely used in the US national security system, warned about the attempts, raising concerns about the security of its systems and services.

Oracle (NYSE:ORCL) – Oracle’s shares saw a 0.12% increase in pre-market ahead of the quarterly report, scheduled for release after Monday’s close. Analysts predict Oracle will achieve earnings of $1.38 per share, with revenue of $13.28 billion, representing a 7.2% increase from the previous year. Although its cloud computing business is growing faster than competitors, capacity issues have been a challenge.

Tesla (NASDAQ:TSLA) – Tesla announced that the gigafactory under construction in Germany, near Berlin, might resume power on Monday, after being cut off since March 5 due to a criminal attack. Resumption depends on tests and technical approvals.

Boeing (NYSE:BA) – Boeing shares are down 0.84% in Monday’s pre-market trading. Boeing revealed concerns, indicating that crucial documents regarding the removal of a part on a 737 MAX 9 involved in an incident were never produced. Following criticism, the company disclosed the names of the employees. The National Transportation Safety Board is investigating the incident, while debate over Boeing‘s cooperation continues amid a planned letter by the NTSB chair.

Delta Air Lines (NYSE:DAL) – Delta anticipates possible delays in the deliveries of Boeing 737 Max 10 aircraft until 2027, following a January incident. Delta is negotiating delay protections as Boeing faces scrutiny. The airline had planned to receive the aircraft starting in 2025.

BP plc (NYSE:BP) – BP announced on Friday that its global carbon emissions increased in 2023 for the first time since 2019, due to the start of new oil and gas projects and increased production. Scope 3 emissions rose to 315 million metric tons, while operational emissions increased by 0.6%.

Reddit – Reddit and its investors plan to raise up to $748 million in their initial public offering, with a sale of 22 million shares priced between $31 and $34 per share, according to Bloomberg.

Goldman Sachs (NYSE:GS) – Jessica Uhl is leaving the Goldman Sachs board to focus on her position as chair of GE Vernova, a General Electric (NYSE:GE) energy spin-off. Uhl joined the Goldman board in 2021, becoming the fifth female director.

JPMorgan Chase (NYSE:JPM) – Wall Street is downplaying concerns about a tech stock bubble. JPMorgan notes that valuations of tech giants like Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) are currently lower, suggesting that tech stocks might still have room to grow. Goldman Sachs strategists agree, highlighting performance divergences among megacap stocks.

Alibaba Group (NYSE:BABA) – Alibaba will launch an incentive plan in April, blending equity with cash to attract talent. This move aims to improve the certainty and liquidity of employee compensation, in response to fierce competition.