Streetbeat News

Regulatory

NVDA

Chloe Wang, partner at the Guangzhou-based Yang Cheng Fund, supports the US government's ban on certain advanced chip exports to China, including Nvidia's A800 and H800 chips. The ban was imposed due to concerns that the chips could be used for military development. Wang's fund invests in semiconductor companies and she believes the ban will boost the domestic ecosystem and reduce reliance on Nvidia's AI software. The US Commerce Secretary, Gina Raimondo, stated that the ban aims to prevent China's access to advanced semiconductors for potential military use, not to impair Chinese economic growth.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 9:52 am

EWJ

GOOG

GOOGL

Japan's Fair Trade Commission has announced it will investigate Google for potential breaches of antimonopoly laws in its web search services. This follows similar investigations in Europe and other major economies.

Portfolio Pulse from Charles Gross

October 23, 2023 | 9:37 am

AZN

AstraZeneca and Daiichi Sankyo's Enhertu has been approved in the European Union for the treatment of adult patients with advanced non-small cell lung cancer. This approval makes Enhertu the first HER2-directed therapy for patients with HER2-mutant advanced NSCLC in the EU.

Portfolio Pulse from Charles Gross

October 23, 2023 | 9:33 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is considering entering the Indian market, but the Indian government has clarified that concessions will only be given if Tesla agrees to local manufacturing. The Indian Central Government's new strategy could potentially reduce import duties on eco-friendly vehicles from 100% to 15%, contingent on automakers initiating manufacturing operations in India and sourcing components locally. Tesla's initial attempt to enter the Indian market in 2021 was hindered by high import taxes, but discussions were reopened in 2023, hinting at the possibility of establishing a manufacturing base in India.

Portfolio Pulse from Shomik Sen Bhattacharjee

October 23, 2023 | 9:12 am

BTCUSD

Argentine presidential candidate and Bitcoin enthusiast, Javier Milei, failed to secure a win in the first round of Argentina's presidential election. Milei, who advocates for reducing government size and replacing the Argentinian peso with the U.S. dollar, is trailing behind economy minister Sergio Massa. Massa, who leads with over 36% support, plans to launch a central bank digital currency (CBDC) to address Argentina's inflation crisis.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 8:30 am

MSFT

Microsoft's CEO, Satya Nadella, emphasized the company's focus on artificial intelligence (AI) and its potential to revolutionize productivity and communication. He compared AI's transformative power to that of cloud computing. However, he also stressed the need for global governance of AI to ensure it does not go beyond human control.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 8:21 am

MARA

RIOT

The value of Bitcoin surged to around $30,000, impacting the performance of Bitcoin mining stocks Marathon Digital Holdings (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT). Both stocks experienced similar trends, with significant declines during 2022. However, Riot has shown better returns over the past 9 months while Marathon Digital Holdings still lingers in the red. The price of MARA stock on January 1, 2023, was $3.40 and has now risen to $7.76, reflecting a growth rate of 128.24%. The price of RIOT stock stood at $3.37, and it has since increased to $8.87, representing a growth rate of 163.2%.

Portfolio Pulse from Mehab Qureshi

October 23, 2023 | 7:39 am

AAPL

HNHPF

Foxconn Technology Group, a key supplier for Apple Inc., is under investigation by Chinese authorities over tax and land use. The investigations are taking place in provinces where Foxconn manufactures for Apple. The scrutiny comes amid the company founder's campaign for the Taiwanese presidency, which critics argue could make him susceptible to pressure from Beijing.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 7:37 am

BTCUSD

New evidence presented by Jameson Lopp, co-founder of Bitcoin custody firm Casa, suggests that Bitcoin pioneer Hal Finney is not Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Lopp's research is based on the activity timeline of both individuals on April 18, 2009, and other discrepancies in their work. However, Lopp concedes that there could be counterarguments to his theory.

Portfolio Pulse from Mehab Qureshi

October 23, 2023 | 7:27 am

NBTX

Nanobiotix has announced updated preliminary results from its Phase 1 pancreatic cancer trial and new exploratory analysis from its completed Phase 1 head and neck cancer trial. The ongoing Phase 1 study of NBTXR3 in locally advanced pancreatic cancer established a favorable safety profile and recommended dose. An exploratory analysis of completed Study 102 showed a positive correlation between Objective Response to RT-activated NBTXR3 and the extension of Overall Survival for elderly, frail patients with head and neck cancer.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 7:01 am