Microsoft (MSFT, Financial) has announced a significant advancement in artificial intelligence with its new Phi-2 model, which is said to outperform competitors' models and can run on devices. This development has sparked interest in the tech sector, with Microsoft's shares experiencing a modest increase. The company's blog post highlighted the model's efficiency and performance, even when compared to Google's (GOOG, Financial) (GOOGL) recently announced Gemini Nano 2. This news comes as a positive note for Microsoft, which has been investing heavily in AI and cloud computing.
McDonald's (MCD, Financial) has launched a new restaurant concept named CosMc's, which focuses on specialty beverages and snacks. Despite the innovative approach, the market does not anticipate a significant disruption in the sector. The new concept is part of a national test and references a McDonaldland mascot from the late '80s and early '90s. The menu includes a variety of unique items, but it remains to be seen how this will impact McDonald's overall performance.
The Consumer Price Index (CPI) report showed a slight increase of 0.1% in November, which was above the expected 0.0%. This has led to a slump in oil prices, with Brent crude futures (CO1:COM) and Nymex crude (CL1:COM) dropping to their lowest levels in six months. The inflation data has implications for the Federal Reserve's interest rate decisions and has caused investors to reassess their expectations for aggressive rate cuts in 2024.
In the pharmaceutical sector, Cassava Sciences (SAVA, Financial) saw its shares rise after announcing a dividend distribution in the form of warrants to its common stockholders. The warrants will be listed and traded separately under the ticker SAVAW. This move is intended to support the company's ongoing Phase 3 clinical development of its Alzheimer's drug, simufilam.
Goldman Sachs has highlighted six stocks to watch, including The Estée Lauder Companies (EL), Dollar General (DG), Bath & Body Works (BBWI), Walmart (WMT), Constellation Brands (STZ), and Lululemon Athletica (LULU). These selections are based on various factors, including potential rebounds and consumer trends. The firm also sees the food sector as a potential top performer within the Staples category for 2024.
Netflix (NFLX, Financial) revealed that "The Night Agent: Season 1" was the most-watched show in the first half of 2023, with viewers spending over 800 million hours on the series. This data comes from a new report that Netflix plans to release biannually, covering the vast majority of its titles and viewing hours.
Walgreen Boots (WBA, Financial) experienced a share price increase amid reports of renewed talks for the possible sale of its UK-based Boots drug chain. The company is considering various options, including a London IPO, and the process is expected to start early next year.
Liberty Media has announced a merger between the Liberty SiriusXM tracking stock (LSXMA) and Sirius XM (SIRI), creating a new public company that will continue to operate under the SiriusXM name. This move aims to simplify the ownership structure and enhance liquidity for shareholders.
