Streetbeat News

Regulatory

NIO

Nio, Inc. (NYSE:NIO) shares dropped after Ohio Senator Sherrod Brown urged President Biden to ban Chinese EV imports, citing threats to domestic automakers and data security. This follows Treasury Secretary Janet Yellen's discussions in China on subsidies and trade. Wall Street views Nio as Neutral, with JP Morgan's Nick Lai predicting a 41.18% decline. Nio's stock fell 40.7% in the past 3 months, despite a 3.43% revenue increase over the past year.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 3:01 pm

AMD

GLD

INTC

JPM

USO

WFC

JP Morgan reported better-than-expected earnings but with a guidance slightly less than expected, leading to a temporary break in its rising trendline. Citigroup and Wells Fargo also reported earnings, with Citigroup's restructuring showing positive signs. Intel and AMD face challenges in China as telecom carriers are instructed to stop using their chips. Early trade money flows are neutral for Amazon, negative for Apple, Alphabet, Meta, Microsoft, NVIDIA, Tesla, SPDR S&P 500 ETF, and Invesco QQQ Trust. Gold and oil futures rose on reports of a potential Iranian attack, affecting related ETFs like SPDR Gold Trust and United States Oil ETF.

Portfolio Pulse from The Arora Report

April 12, 2024 | 3:01 pm

Boeing Company (NYSE:BA) shares have declined over 5% in the past five days amid ongoing scrutiny of its safety and quality standards. A new whistleblower has raised concerns about the 787 Dreamliners' fuselage sections, leading to a Senate hearing on Boeing's safety culture. Analysts from JP Morgan and B of A Securities have lowered their price targets for Boeing. Despite this, the average 1-year price target from analysts suggests a 37.8% upside in 2025.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 2:55 pm

AZN

LLY

NVO

SNY

The European Medicines Agency's PRAC found no substantial evidence linking GLP-1 receptor agonists, used for type 2 diabetes and weight management, to suicidal behaviors. This follows similar findings by the FDA. Medications reviewed include those from Novo Nordisk, AstraZeneca, Sanofi, and Eli Lilly. The PRAC requested additional data from these companies and concluded no changes to product information are necessary, with companies to continue monitoring and reporting.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 2:40 pm

EIS

SPY

USO

The U.S. has issued sanctions targeting a Hamas spokesperson and officials of its drone unit. These measures are part of efforts to curb the activities of Hamas by restricting their access to resources. The sanctions could have implications for global markets and specific sectors, potentially affecting investor sentiment towards assets related to defense, security, and the geopolitical landscape.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:35 pm

AMD

BABA

BIDU

INTC

PDD

Alibaba Group Holding Limited (NYSE:BABA) and its Chinese peers, including Baidu, Inc (NASDAQ:BIDU), JD.Com, Inc (NASDAQ:JD), and PDD Holdings Inc (NASDAQ:PDD), are trading lower amid China's retaliation against U.S. semiconductor sanctions. This includes directives to phase out foreign processors by 2027, impacting Intel Corp (NASDAQ:INTC) and Advanced Micro Devices, Inc (NASDAQ:AMD), with both companies seeing revenue reductions in China. Alibaba has also reduced its cloud service prices internationally by up to 59% due to competitive pressures and U.S. sanctions.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:29 pm

EIS

SPY

The White House has stated that it cannot verify the claim made by Hamas that they do not have 40 hostages, as reported by Reuters. This situation could potentially escalate tensions and have implications on the geopolitical landscape, affecting market sentiment and investor behavior.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:24 pm

AMD

BOTZ

INTC

NVDA

SMH

China is phasing out foreign processors from its telecom systems by 2027, impacting AMD and Intel significantly as they are major suppliers. This move aligns with China's goal to use domestic chips, challenging the dominance of American semiconductor companies in its largest market. Nvidia, despite U.S. sanctions, remains competitive by adapting its products for the Chinese market and maintaining its lead in AI chips. AMD and Intel are shifting focus to AI in personal computers. Nvidia, AMD, and Intel stocks traded lower following these developments.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:24 pm

EIS

SPY

The White House has stated that the latest round of hostage talks with Hamas is still not sufficient, indicating ongoing negotiations and awaiting a response from Hamas. This situation underscores the tense geopolitical landscape and its potential impact on financial markets.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:22 pm

WFC

Wells Fargo's CFO announced in a conference call that the bank faces potential operating losses due to outstanding litigation, regulatory issues, and customer remediation matters for the remainder of the year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:19 pm