Streetbeat News

Regulatory

EW

Edwards Lifesciences Corp (NYSE:EW) is under scrutiny by EU antitrust regulators for its patent practices and policies aimed at thwarting copycat devices. The focus is on the company's activities related to the transcatheter aortic valve replacement (TAVR) device and its global unilateral pro-innovation (anti-copycat) policy. The company's shares are down 1.02% at $70.55.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 6:28 pm

KLAC

KLA Corp's stock is trading lower due to new U.S. regulations designed to prevent China, Iran, and Russia from using American AI technology for military purposes. These rules restrict chip exports and blacklist two Chinese chip makers, potentially reducing demand for KLA's products and disrupting global semiconductor supply chains.

Portfolio Pulse from Henry Khederian

October 17, 2023 | 6:23 pm

ETHUSD

On Monday, 2,385.36 Ether (ETH) worth $3,743,275 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's EIP-1159 upgrade, which changes the fee model and burns a variable base fee from each transaction. This reduces the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, but this is expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 6:00 pm

AMD

INTC

NVDA

The Chinese Embassy in Washington has announced that China firmly opposes the export restrictions imposed by the U.S. on advanced artificial intelligence chips, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:38 pm

EIS

The Health Ministry reports at least 500 casualties in an Israeli air strike on a hospital in Gaza, according to Reuters. The article may mention EIS (iShares MSCI Israel ETF).

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:25 pm

SPY

The article reports that no member has received enough votes to be elected as the Speaker. A second vote is expected to take place.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:20 pm

BABA

BIDU

JD

Chinese stocks are trading lower due to increased US-China tensions following the US's announcement to stop shipments of advanced AI chips to China.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:11 pm

SPY

Five Republican lawmakers have voted against Jim Jordan for the position of Speaker. The voting process is still ongoing.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:09 pm

AMD

INTC

NVDA

Analyst Ming-Chi Kuo suggests that the U.S. ban on AI chip sales to China could provide a short-term entry opportunity for AMD, negatively impact Nvidia, and make Intel the biggest loser. Nvidia's Chinese customers account for 15–20% of AI chip shipments in 2024, and Intel's Habana Gaudi 2 customers are mainly from China.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:03 pm

SPY

Republican Jim Jordan has been nominated to be the U.S. House Speaker. Meanwhile, Democrat Caucus Chair Aguilar is nominating Jeffries for the same position.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 4:49 pm