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The US lender announced a 71% reduction in dividend and a rare net loss in Q4 due to higher provision for credit losses, reigniting fears around regional banks nearly a year after the Silicon Valley Bank failure

Intel Stock gapped down on 26 January following the chip makers outlook for Q1 2024, which lagged analysts’ forecasts. However, it is notable that the company’s stock price nearly doubled in 2023, surging by 91%.

The social media giant delivered another blowout quarter on the back of higher ad sales, its main revenue generator, which is also helped by the AI push

Microsoft (MSFT.us) delivered $2.93 EPS on a revenue of $62.02 billion for the quarter ended 31 December 2023. This is ahead of Wall Street estimates of $2.77 EPS and $61.1 billion. In effect, the company’s earnings increased 33% on a year-over year basis and sales increased by 18%.

Jensen Huang, Nvidia’s CEO, acknowledged that the demand for artificial intelligence chips is booming. According to reporters in Taiwan, he said that AI is a “rebirth of the industry” with this year as “a huge year.”

The EV leader recorded its smallest revenue increase in years and warned of slower vehicle volume growth in 2024, but Mr Musk sounded optimistic around the future and touted a next gen model

Netflix (NFLX.us) posted better-than-expected revenue for Q4. The company also added 13.1 million net new subscribers in the quarter, which is a substantial beat over the 8.7 million net subscribers the company had forecast. This makes it the best-ever fourth quarter for new subscribers. Promising was that the growth was for all regions, and the company now has 260.3 million subscribers globally.

Apple has been banned from selling current versions of its Apple Watch in the US as a federal appeals court decides on the patent dispute regarding a sensor. This suggests that the company may pull the watches from stores for the second time in less than a month.

FXCM’s US.BANKS basket has risen strongly since its low in mid-October last year. However, the strong appreciation resulted in an overbought condition to start 2024 (red vertical). As a result, it not a surprise to see the basket pulling back over the last week and a half as the oscillator normalises.

Microsoft (MSFT.us) is expanding the scope of its Copilot artificial intelligence software. In particular, the company will focus on consumers and small businesses.

On Friday, Microsoft (MSFT.us) passed Apple (AAPL.us) as the world’s most valuable company. Microsoft’s value is $2.89 trillion, whilst Apple’s is $2.78 trillion. Over the last 12 months, Microsoft has rallied almost 63% against Apples 40%. This has effectively ended Apple’s more than 500 days as the highest valued company in the world, with Microsoft last holding the spot in November 2021.