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ChatGPT excelled at predicting a stock's price direction based on news sentiment. They found that while ChatGPT excelled at predicting a stock's direction based on news sentiment, it is not without limitations. They prompted ChatGPT to assign the following scores to headlines: "1" for good news, "0" for unknown and "-1" for bad news. Is this headline good or bad for the stock price of (company name) in the term (short or long-term)?" This meant negative news had a greater and longer impact in the real world than in the simulation,, likely giving ChatGPT an advantage, Lopez-Lira noted.
Persons: ChatGPT, Bard, Alejandro Lopez, Yuehua Tang, Merrill Lynch, Lopez, Lira, Tang, Russell, BERT, Philip Morris, Gene Tipps, David Capablanca, Alpesh Patel, Praefinium, Patel, Capablanca, GPT's, it's, Cory Mitchell, would've, Mitchell, you'll, they're Organizations: University of Florida, of Florida's Department, Finance, Lira, Center for Research, Linux, NYSE, Nasdaq, GPT, Design, Cadence Design, Philip Morris Beats, Global, Global Operations, Dow Locations: GPT
July 20 (Reuters) - Philip Morris International (PM.N) on Thursday beat Wall Street expectations for quarterly profit, boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its smokeless Zyn and IQOS products. The company has bet heavily on Zyn and IQOS products as younger customers are showing a preference for these "smoke-free" alternatives to traditional combustible cigarettes. Demand for higher-margin IQOS devices - that heat cigarettes, instead of lighting them - and Zyn nicotine pouches has helped protect margins for the tobacco giant. The company raised the lower-end of its full year profit forecast, and now expects earnings per share between $6.13 and $6.22, compared to its previous forecast of $6.10 and $6.22. The company's second-quarter adjusted profit per share of $1.60 beat analysts' average estimates of a profit of $1.47, as per Refinitiv data.
Persons: Philip Morris, Juveria, Pooja Desai Organizations: Philip Morris International, Thomson Locations: Bengaluru
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