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Chinese entities have acquired high-end NVIDIA chips despite a U.S. ban, using third-party vendors and embedding them in servers from Super Micro Computer, Dell Technologies, and Gigabyte Technology. The chips were obtained for servers between Nov. 20 and Feb. 28, after the U.S. expanded its embargo on Nov. 17. Nvidia and server makers claim compliance with export controls, while the situation underscores the challenges of enforcing U.S. chip-export restrictions to China.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 5:01 am

META

Former President Donald Trump has criticized a potential TikTok ban, suggesting it benefits Meta Platforms Inc. (Facebook) by making it more dominant. Trump, who previously attempted to ban TikTok, now argues the move would unfairly advantage Facebook. The House has passed legislation requiring TikTok's sale or facing a ban, which President Biden supports. The White House denies seeking a TikTok ban, aiming instead for American ownership to protect data.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 12:43 am

CPRI

TPR

Capri Holdings Limited issued a statement expressing strong disagreement with the Federal Trade Commission's (FTC) decision to block its proposed transaction with Tapestry, Inc. The FTC's action represents a significant regulatory hurdle for the merger between the two companies.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:21 pm

CDTX

Cidara Therapeutics, Inc. (CDTX) received a Nasdaq delinquency notice for not filing its Annual Report on time, risking delisting. The company plans to submit a compliance plan and announced a 1-for-20 reverse stock split effective April 24, 2024, to meet Nasdaq's $1.00 bid price requirement by May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:08 pm

SCPX

Scorpius Holdings, Inc (SCPX) received a notice from NYSE Regulation for not complying with listing standards due to the late filing of its Form 10-K for the year ended December 31, 2023. The delay was attributed to finance staff turnover and the need for additional time to complete revenue recognition calculations for certain contracts. CEO Jeff Wolf expressed regret over the delay and a commitment to high standards of financial reporting and governance.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:05 pm

ABAT

AMSYF

FQVLF

GOLD

GROY

American Battery Technology (ABAT) has initiated its lithium hydroxide pilot plant in Reno, Nevada, to produce battery-grade lithium hydroxide from unconventional sources, supported by a $4.5 million U.S. Department of Energy grant. ArcelorMittal Calvert (AMSYF) plans to construct a facility in Alabama for producing non-grain-oriented electrical steel, backed by $280.5 million in investment tax credits. Gold Royalty (GROY) reported a significant increase in revenue and gold equivalent ounces for Q1, projecting higher revenues for 2024. Saudi Arabia's Manara Minerals (FQVLF) is nearing a deal to acquire a minority stake in Pakistan's Reko Diq mine, a project 50% owned by Barrick Gold (GOLD).

Portfolio Pulse from austin@walkonholdings.com

April 22, 2024 | 9:01 pm

ABEO

Abeona Therapeutics' stock trades lower following the FDA's issuance of a Complete Response Letter for its Biologics License Application for pz-cel, aimed at treating recessive dystrophic epidermolysis bullosa.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:59 pm

PXS

Pyxis Tankers Inc has filed with the SEC for a mixed shelf offering, allowing it to issue various securities up to a total value of $100 million. This strategic move could provide the company with flexible financing options for future growth, acquisitions, or debt management.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:52 pm

ASST

Asset Entities received a notice from Nasdaq on April 18 regarding delisting or failure to satisfy continued listing rules, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:49 pm

FRLA

Fortune Rise Acquisition Corp. (FRLA) received a Nasdaq notice on April 16 for failing to regain compliance with the public holders rule during the extension period. The company has requested a hearing, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 8:49 pm