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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

EIS

SPY

USO

The White House has stated that it would be imprudent for the U.S. not to reassess its own force posture in light of threats from Iran. This suggests a potential shift or intensification in U.S. military readiness or positioning in response to perceived threats.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:16 pm

SPY

USO

The White House has declined to comment on reports suggesting an imminent attack by Iran on Israel, labeling it a viable threat. Officials stated they are monitoring the situation very closely.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:12 pm

USO

VGK

Russian oil and products are currently stranded on four tankers due to new Iran-related sanctions, according to Reuters citing LSEG data. This development could impact the global oil supply chain and market dynamics, potentially affecting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:58 pm

NVO

Novo Nordisk's stock is trading higher following reports that EU regulators have dismissed any connection between its weight loss drugs and suicidal thoughts. Furthermore, BMO Capital has started covering the stock, giving it an Outperform rating.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:37 pm

MOTS

Motus GI Holdings announced it likely won't maintain its Nasdaq listing and won't appeal the decision. The company is exploring strategic and financing alternatives.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:34 pm