Microsoft-Backed OpenAI Remains ‘Uncontested Leader’ in Artificial Intelligence, Macquarie Says

/ / Technology /

Microsoft-backed (MSFT) OpenAI continues to be the “uncontested leader” in artificial intelligence despite the cases filed against it by Tesla (TSLA) Chief Executive Elon Musk and The New York Times (NYT), Macquarie said in a note emailed on Monday. Musk is seeking the removal of GPT-4 from the scope of Microsoft’s intellectual property licensing agreement with OpenAI, while The New York Times sued OpenAI for copyright infringement. “But, regardless of these cases, we have seen the performance gap between GPT-4 and other models narrow, but certainly not close, throughout 2023,” the note said. Macquarie said Microsoft’s Copilot product roadmap would likely be set back if GPT-4 becomes inaccessible to the company because of any of those cases. “But we do not think it would derail its AI product initiatives by any means,” Macquarie said. Macquarie maintained its outperform rating and $455 price target on Microsoft stock.

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DoorDash Close in on Profitability With New Ventures, International Market, RBC Says

/ / Technology /

DoorDash (DASH) has the potential to stabilize profitability with entry in new verticals and international markets, RBC Capital Markets said in a note Monday. DoorDash’s new verticals and international segment may have peaked at losses of around $1.3 billion annually, RBC added. The firm expects that while the company’s core business investment may be minimal, new vertical losses are unlikely to increase year-over-year. The investment firm said it previously underestimated the company’s order growth resilience primarily because of the frequency “which should continue to be a multi-year mid-to-high-teens grower.” DoorDash’s potential partnerships, particularly with LYFT (LYFT), could drive significant incremental orders and enhance its loyalty program, according to the note. The firm said consumer concerns and slow expansion into non-restaurant verticals remain a risk to the company’s growth with low likelihood and potential for upward estimate revisions. RBC raised DoorDash’s stock rating to outperform from sector perform and increased the

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Lyft a ‘Stable Duopoly’ With Potential for DoorDash Partnership, RBC Says

/ / Consumer Discretionary /

Lyft (LYFT) is a “stable duopoly” with a potential for a DoorDash (DASH) partnership, RBC Capital Markets said in a note to clients Monday. The investment firm upgraded Lyft’s rating to outperform from sector perform and raised its price target to $23 from $17. RBC said its latest driver supply analysis points to a “stable duopoly” compared with the past two years, which showed Uber (UBER) “flexing its structural advantage.” “The improved execution of Lyft’s core business is foundational to our thesis in that it allows it to build scale and marketplace efficiency to grow down-market products which drive elasticity and gives any potential partners greater confidence in being a sustainable competitor longer term,” RBC analysts said. A partnership with DoorDash “makes enormous sense and becomes more probable,” RBC said. The analysts estimate mid-single-digit to mid-teens of additional orders is possible, along with a 22% revenue or rides headwind, which

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FactSet Research Systems to ‘Modestly Beat’ Fiscal Q2 Consensus, RBC Capital Markets Says

/ / Financials /

FactSet Research Systems’ (FDS) fiscal Q2 financial results are expected to “modestly beat” consensus estimates, RBC Capital Markets said in a note Friday. Consensus for the quarter is adjusted EPS of $3.85 on revenue of $546 million, lower than RBC’s estimated adjusted EPS of $4 on revenue of $547 million, RBC said. FactSet Research is set to report fiscal Q2 earnings on March 31. For fiscal 2024, RBC said it expects FactSet to maintain its guidance for adjusted EPS of $15.60 to $16 on revenue of $2.20 billion to $2.21 billion. “We expect FDS to reiterate their fiscal 2024 revenue guidance due to benefits from two customer wins in fiscal Q1, a wealth manager with [about] 17,000 seats, and Analytics win at a large US asset manager,” RBC said. The investment bank said it forecasts fiscal 2024 adjusted EPS of $16.06 on revenue of $2.21 billion for FactSet, compared with

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American Airlines MAX 10 Jet Order Juices Boeing Stock — Barrons.com

/ / Consumer Discretionary /

Boeing stock turned higher in Monday trading after investors stopped worrying about quality problems for a minute and thought about strong demand for new commercial jets instead. Boeing shares had dipped to as low as about $197 early Monday after Friday’s $200 close. Investors have been weighing what a potential takeover of supplier Spirit AeroSystems Holdings means for Boeing stock and efforts to improve manufacturing quality. Both companies confirmed talks this past Friday. Early Monday, Boeing stock was down about $10 dollars since buyout talks surfaced. Spirit Aero shares were up about $5, to $33.32 over the same span. Boing shares rebounded, for a gain of about 0.3% in midday trading while the S&P 500 and Dow Jones Industrial Average are down 0.1% and 0.2%, respectively. American Airlines Group helped turn things around. Monday, American announced an order for 260 jets, including 85 Airbus A321neo jets and 85 Boeing 737

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Nvidia Envisions Delivering Any Form of Data Center Computing

/ / Technology /

Nvidia’s vision as a platform company makes its focus different from companies focusing on silicon or a specific chip for a certain workload, CFO Colette Kress says. The chip company finance chief, speaking at a Morgan Stanley conference, says a platform company is able to deliver any form of data center computing that may be needed in the future. “Our focus [is] to make sure at every data center level all of the different components we may be able to provide them, whether it would be the computing infrastructure, the networking infrastructure, the overall memory part of it, just overall full supercomputer we can put together,” Kress says. Shares rise 3.6% to $852.51, extending a run that has vaulted Nvidia into one of the most valuable companies.

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AMD Hires Thomas Zacharia to Expand Strategic AI Relationships

/ / Technology /

Former head of Oak Ridge National Laboratory to accelerate adoption of AMD technologies for sovereign AI deployments benefiting citizens around the world SANTA CLARA, Calif., March 04, 2024 (GLOBE NEWSWIRE) — Today AMD (NASDAQ: AMD) announced that Thomas Zacharia has joined AMD as senior vice president of strategic technology partnerships and public policy. Zacharia will lead the global expansion of AMD public/private relationships with governments, non-governmental organizations (NGOs) and other organizations to help fast-track the deployment of customized AMD-powered AI solutions to meet rapidly growing number of global projects and applications targeting the deployment of AI for the public good. “Thomas is a distinguished leader with decades of experience successfully creating public/private partnerships that have resulted in consistently deploying the world’s most powerful and advanced computing solutions, including the world’s fastest supercomputer Frontier,” said AMD Chair and CEO Lisa Su. “As the former Director of the U.S.’s largest multi-program science

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Netflix Sees Games Following Similar Path To TV, Film

/ / Consumer Discretionary /

Netflix sees its strategy for game licensing following a familiar playbook. CFO Spencer Neumann says at a Morgan Stanley conference that the company’s relatively new gaming business is just starting to add in-house content. Like with TV and film, Neumann says he expects the company to over time build a higher mix of non-licensed content. He says licensed games are likely going to play a major role in the company’s games business for a long time, “probably forever.” “The mix will change over time,” Neumann says. The company sees games driving further retention on the platform in the future.

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CFRA Retains Strong Buy Opinion On Shares Of Eli Lilly And Company

/ / Health Care /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $56 to $885, reflecting 57.0x our 2025 EPS, justified by LLY’s robust revenue and earnings growth outlook. We lift our 2024 EPS estimate by $0.10 to $12.50 and our 2025 view by $0.06 to $15.53. Leaving behind a year of robust performance in 2023 with top-line revenue growth of 28% Y/Y, we think LLY will continue to outperform peers. We see superior growth prospects for Eli Lilly in the next two years in an environment where competitors will see slower growth and more limited cushion against key drugs’ loss of exclusivities. We updated our model and now expect 2024 revenue growth of 21% Y/Y and another 14% Y/Y in 2025, while we expect record EPS growth of 98% Y/Y and 24%

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