Streetbeat News

Regulatory

INTC

Intel Corporation's shares are trading lower following the announcement by the Biden administration to cease shipments of advanced AI chips to China. The U.S. government has imposed new rules to prevent China from utilizing American AI technology for military objectives. This includes limitations on chip exports to China, Iran, and Russia, and the blacklisting of two Chinese chip manufacturers. The halt in chip shipments could signal a broader shift in U.S.-China trade relations, raising concerns about Intel's business prospects.

Portfolio Pulse from Henry Khederian

October 18, 2023 | 2:30 pm

EIS

SPY

President Biden has announced an agreement with Israel to allow humanitarian aid to move from Egypt to Gaza. He also reiterated his support for a two-state solution.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:22 pm

EIS

SPY

President Biden has announced the allocation of $100M in new U.S. funding for humanitarian assistance in Gaza and the West Bank.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:18 pm

SPY

The U.S. Senate Committee has approved President Biden's nominee to head the Federal Aviation Administration (FAA).

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:18 pm

NVO

VGK

The European Medicines Agency (EMA) has alerted EU patients and healthcare professionals to reports of falsified Ozempic pens. However, there is no evidence that any falsified pens have been dispensed to patients from legal pharmacies. The issue is currently being investigated by EMA and police.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:17 pm

EIS

SPY

The Archbishop of Canterbury has called for restraint in assigning responsibility for the attack on a Gaza hospital, stating that facts should be clear first. No specific entities or companies were directly implicated in the news.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:11 pm

AMAT

AMD

KLAC

LRCX

NVDA

NXPI

Semiconductor and chip stocks are trading lower due to the Biden administration's plan to halt advanced AI chip shipments to China and weak quarterly earnings report from ASML. Stocks mentioned include AMAT, AMD, KLAC, LRCX, NVDA, NXPI, ON.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:00 pm

BAER

ICU

NUZE

NVVE

SFT

TGL

US stocks traded lower with the Dow Jones falling around 100 points. Procter & Gamble Co (PG) reported better-than-expected earnings for its third quarter. Shift Technologies (SFT) announced it will file for Chapter 11 bankruptcy protection. Treasure Global Inc. (TGL) announced an AI robot designed for TikTok. SeaStar Medical Holding Corporation (ICU) gained after the FDA granted the company’s device Breakthrough Device Designation. Nuvve Holding Corp. (NVVE) shares dropped after reporting pricing of $1 million underwritten public offering. NuZee, Inc. (NUZE) were down after pricing its $1.275 million underwritten public offering. Bridger Aerospace Group Holdings, Inc. (BAER) fell after announcing a $70 million proposed public follow-on offering.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 2:00 pm

TSLA

Billionaire hedge fund investor Bill Ackman, CEO of Pershing Square Holdings Ltd., has expressed interest in taking X public again through his newly approved special purpose acquisition rights company (SPARC). X, formerly Twitter, was taken over by Tesla Inc. CEO Elon Musk last year. Ackman believes that X's substantial debt burden of approximately $13 billion could be a compelling incentive for Musk to consider the proposed deal. However, the likelihood of Pershing Square successfully finalizing a deal with Musk remains uncertain.

Portfolio Pulse from Aditi Ganguly

October 18, 2023 | 1:54 pm

EIS

SPY

President Biden had a meeting with Netanyahu where he asked tough questions about the situation on the ground, security needs, and information on unaccounted Americans. The meeting was held in Tel Aviv.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:47 pm