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Regulatory

AMAT

FTXL

LRCX

NVDA

NXTE

Applied Materials Inc (NASDAQ:AMAT) may reconsider its $4 billion R&D facility in Silicon Valley due to insufficient federal funding, impacting its plans and potentially affecting other companies like Nvidia Corp (NASDAQ:NVDA) and Lam Research Corp (NASDAQ:LRCX). The Biden administration's decision not to finance semiconductor R&D facilities, despite a global semiconductor shortage, has led to challenges for California's semiconductor industry. Applied Materials, under investigation for allegedly exporting equipment to China's SMIC without proper licenses, reported Q1 fiscal 2024 sales of $6.71 billion, surpassing estimates. Investors can gain exposure to AMAT through First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) and Investment Managers Series Trust II AXS Green Alpha ETF (NYSE:NXTE).

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 11:45 am

AAPL

Jim Cramer criticized Apple Inc. (NASDAQ:AAPL) for sending receipts for subscription services at odd hours, such as 3:50 a.m., suggesting it could lead to customers overlooking these emails. This critique comes amid broader scrutiny of Apple's services business, which faces potential legal and regulatory challenges. Apple's billing practices have been questioned by users, with some reporting being charged for subscriptions without receiving bills and difficulties in canceling subscriptions. Additionally, Apple is under investigation by the European Union for potential antitrust violations, alongside Meta Platforms Inc. and Alphabet Inc.'s Google.

Portfolio Pulse from Rounak Jain

April 09, 2024 | 11:42 am

DFIN

Donnelley Financial Solutions (NYSE:DFIN), a provider of risk and compliance solutions, announced it successfully test filed a full N-CSR, including an iXBRL tagged Tailored Shareholder Report (TSR), to the SEC ahead of the July 24 compliance deadline. This test was conducted on behalf of a large Chicago-based asset manager, marking a critical milestone for DFIN in meeting new regulatory requirements.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:33 am

BE

Bloom Energy's stock is on the rise following the announcement that it has been awarded up to $75 million in tax credits for its Fremont facility, signaling strong government support and financial incentives for the company's operations.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:14 am

SYRS

Syros Pharmaceuticals has been granted Fast Track designation by the FDA for Tamibarotene, aimed at treating newly diagnosed unfit AML patients with RARA gene overexpression. This designation could expedite the development and review process for Tamibarotene, potentially bringing it to market quicker.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:10 am

BMY

TSVT

The FDA has approved the use of a suspension lentiviral vector for the manufacturing of Abecma, as announced by 2Seventy Bio and Bristol Myers Squibb. This approval marks a significant advancement in the production process of Abecma.

Portfolio Pulse from Charles Gross

April 09, 2024 | 11:06 am

ALKS

Alkermes announced positive topline results from its Phase 1b study of ALKS 2680, a treatment for patients with Narcolepsy Type 2 and Idiopathic Hypersomnia. This marks a significant milestone in the development of a potential new treatment option for these sleep disorders.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:03 am

GOGO

Gogo has received FCC regulatory approval for its Gogo Galileo Terminals, with plans to begin flight testing this summer on its Challenger 300 testbed. The HDX terminal is expected to be certified and commercially launched later this year.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:03 am

WISA

WiSA Technologies has announced that Nasdaq has accepted its compliance plan. This acceptance indicates that WiSA Technologies has addressed or plans to address issues that previously put it at risk of not meeting Nasdaq's listing requirements. The acceptance of the compliance plan by Nasdaq is a positive development for WiSA Technologies, potentially stabilizing its position on the exchange and providing a pathway to maintain its listing status.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 10:06 am

BCLI

Brainstorm Cell Therapeutics has received a written agreement from the FDA under a Special Protocol Assessment for the design of a Phase 3B trial of NurOwn in Amyotrophic Lateral Sclerosis, expected to start in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 10:02 am