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The Biden administration is considering blacklisting several Chinese semiconductor firms linked to Huawei Technologies, including Qingdao Si'En, SwaySure, and Shenzhen Pensun Technology Co., due to Huawei's advancements in AI chip development. This move aims to curb China's AI and semiconductor ambitions, impacting companies like Nvidia, Tencent, Alibaba, and others involved in competing or collaborating in the AI and semiconductor sectors.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 12:01 pm

INTC

NVDA

Intel Corp. (NASDAQ:INTC) shares surged nearly 4% premarket following the announcement of a proposed $8.5 billion funding from the Biden administration under the CHIPS and Science Act for semiconductor projects in the U.S. This funding aims to create tens of thousands of jobs and solidify the U.S.'s stance in the global semiconductor market. Intel's investments over the next five years are expected to exceed $100 billion, generating significant employment opportunities. Additionally, Nvidia Corp. (NASDAQ:NVDA) is considering Intel Foundry for its AI chip production.

Portfolio Pulse from Rounak Jain

March 20, 2024 | 11:54 am

EVTV

Envirotech Vehicles, Inc (NASDAQ:EVTV) has secured its largest deal ever, selling 200 electric vans and trucks to Texas-based PlugD Commercial Electric Leasing and Rentals for approximately $16.2 million. This deal underscores the growing demand for electric vehicles and highlights Envirotech's commitment to developing zero-emissions vehicles. Despite the positive news, EVTV shares dropped 4.59% to $2.08 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 11:49 am

ANVS

Annovis Bio announced the completion of data cleaning for its Phase 2/3 study of Buntanetap in Alzheimer's patients, with topline efficacy data expected in April, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:40 am

NLSP

NLS Pharmaceutics has obtained an exclusive global license for a next-generation non-sulfonamide dual orexin agonist platform, aiming to advance treatments in the sleep disorder pharmaceutical sector.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:39 am

SLRN

Acelyrin's stock price increased following positive results from its Phase 1/2 trial of lonigutamab in treating thyroid eye disease, showing improvements in proptosis, clinical activity scores, and diplopia compared to placebo, alongside a favorable safety profile.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:26 am

ENB

Enbridge Inc. (NYSE:ENB) plans to expand the Gray Oak oil pipeline capacity in Texas by 80,000 barrels per day in 2024 and an additional 40,000 barrels per day in 2025, revising its initial target to a total increase of 100,000-200,000 barrels per day. The expansion aims to enhance the pipeline's connection between the Permian basin and Corpus Christi. Enbridge's Ingleside Energy Center, noted as the largest crude oil storage and export terminal in the U.S., is positioned to compete effectively against SPOT. The company also reported a Q4 FY23 adjusted EPS of C$0.64 and reaffirmed its 2024 financial guidance.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 11:25 am

MBLY

Mobileye's stock is experiencing an uptick following the announcement that it will supply technologies for Volkswagen Group's partially and highly automated driving systems. This partnership highlights Mobileye's continued growth and presence in the automotive technology sector.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:17 am

RIVN

Jim Cramer, on CNBC's 'Mad Money', expressed a preference for Rivian Automotive Inc.'s (NASDAQ:RIVN) vehicle over its stock, despite acknowledging the company's effective management. He highlighted the challenges faced by EV stocks like Rivian and Tesla due to potential interest rate hikes. Additionally, Rivian's vehicles becoming compatible with Tesla's supercharger network and the announcement of priority delivery for its second-generation EV in 2026 were noted.

Portfolio Pulse from Benzinga Neuro

March 20, 2024 | 11:10 am