Streetbeat News

Regulatory

ASML

FXI

SPY

The US government has updated its regulations on the export of advanced chip manufacturing technology, which will affect ASML Holding N.V.'s sales distribution in the medium to long term. However, ASML does not anticipate a significant impact on its financial outlook for 2023, 2025, and 2030. The company will seek further clarification from US authorities on the scope of the new regulations.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 2:08 pm

BABA

JD

KWEB

NVDA

PDD

Alibaba Group Holding Limited (NYSE:BABA) is facing economic slowdown and deflationary pressure, with its stock trading lower. The U.S. government plans to halt shipments of advanced AI chips to China, affecting Nvidia Corp (NASDAQ:NVDA). Alibaba's Taobao & Tmall Group are offering massive discounts to compete with JD.com Inc (NASDAQ: JD) and PDD Holdings Inc (NASDAQ: PDD). Analysts have been reducing their price targets for Alibaba and JD.com due to sales not meeting expectations.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 2:08 pm

GS

Goldman Sachs CEO has warned of a 'significant' impact on its prime business if draft rules are implemented. The rules in question are not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 2:05 pm

AAPL

HNHPF

NVDA

Nvidia Corp (NVDA) is facing a potential impact due to the US government's plans to halt shipments to China of advanced AI chips, including Nvidia's A800 and H800 chips. The embargo extends to several countries and blacklists Chinese chip designers. Meanwhile, Nvidia's partnership with Foxconn (HNHPF) and Apple Inc (AAPL) continues, with plans for AI and electric vehicles. Nvidia's shares traded lower by 6.08% at $432.96.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 2:05 pm

SPY

The National Association of Home Builders (NAHB) Housing Market Index for October came in at 40, lower than the estimated 44 and the prior 44.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 2:01 pm

LOPE

Citron Research has criticized Grand Canyon Education Inc. (LOPE) for its anti-government rhetoric, stating that it shows the company's vulnerability as a for-profit education provider to the newly enacted Gainful Employment Act. Citron also called the company's management posturing disgraceful.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:51 pm

SPY

TSLA

Tesla has urged the Biden administration to finalize stricter fuel economy standards through 2032. The electric vehicle manufacturer believes that the proposed standards are not aggressive enough to address climate change and promote electric vehicle adoption.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:47 pm

CIR

CIRCOR International has announced that all regulatory approvals for its merger have been obtained. The transaction is expected to be completed on October 18, 2023, pending the fulfillment of standard closing requirements.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:46 pm

AMD

AVGO

INTC

NVDA

STM

The Biden administration plans to halt advanced AI chip shipments to China, causing several semiconductor stocks to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:42 pm

GS

Goldman Sachs CEO has expressed concerns that the proposed capital rules could negatively impact the competitive standing of the global economy. The CEO believes these rules could potentially harm the financial sector and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:40 pm