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Regulatory

AMAT

Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower due to concerns about inflation, rate hikes, and potential restrictions on Chinese companies accessing American AI chips. These factors could lead to a broader sell-off in the stock market and disrupt the global semiconductor supply chain, negatively impacting Applied Materials' revenue and stock price.

Portfolio Pulse from Henry Khederian

October 13, 2023 | 6:16 pm

ILMN

Illumina has responded to the European Commission's order to divest GRAIL. The company will have 12 months to complete the divestiture.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 6:14 pm

ETHUSD

A total of 1,784.03 Ether (ETH) worth $2,755,313 was burned from Ethereum transactions on Thursday. This follows the implementation of the Ethereum improvement proposal EIP-1159 on August 5th, 2021, which changed the fee model and introduced a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was 1.01%.

Portfolio Pulse from Benzinga Insights

October 13, 2023 | 6:00 pm

AMAT

AMD

NVDA

Semiconductor stocks are trading lower due to inflation and rate hike concerns. The U.S. is reportedly planning to close the loophole that allowed Chinese companies to access American AI chips, which is also negatively affecting these stocks.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 5:58 pm

SPY

Treasury Secretary Janet Yellen has stated that no funds from the unfrozen Iranian assets in Qatar have been spent. The impact of this news on the market and specifically on SPY is uncertain.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 5:51 pm

BTCUSD

Anthony Scaramucci, founder of SkyBridge Capital, criticized the Federal Reserve's handling of inflation in an interview with Benzinga. He believes the Fed was late in reacting to high inflation and that its data is lagging, making it hard for the poor and middle class. Scaramucci predicts a soft recession and a need for the Fed to cut rates. He also expressed concern over the high level of US debt, which he believes will lead to the devaluation of the US dollar. He suggested that cryptocurrencies and houses could increase in value and outpace inflation if the dollar's value decreases.

Portfolio Pulse from Chris Katje

October 13, 2023 | 5:45 pm

JCSE

JE Cleantech Holdings Limited (NASDAQ:JCSE) has announced a 1-for-3 reverse stock split to regain compliance with NASDAQ's minimum $1.00 bid price per share requirement. The split will be effective from October 13, 2023, and the shares will begin trading on a split-adjusted basis from October 16, 2023. The total number of authorized shares will be reduced from 15,020,000 to 5,006,666. Proportional adjustments will be made to the number of shares issuable upon the exercise of any outstanding stock options and the number of shares issuable pursuant to outstanding restricted stock awards.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 5:15 pm

HOOD

Steve Quirk, the inaugural Chief Brokerage Officer of Robinhood Markets Inc (NASDAQ:HOOD), will discuss the future of trading platforms at Benzinga's Fintech Deal Day. Quirk, who has over three decades of experience in the brokerage sector, joined Robinhood in January 2022. He previously worked at TD Ameritrade for 14 years, where he oversaw the strategy and deployment of initiatives for trading on the platform.

Portfolio Pulse from Khyathi Dalal

October 13, 2023 | 5:09 pm

EIC

SPY

USO

The White House has stated that the U.S. has not observed any external actor indicating a willingness to escalate the Israel-Hamas conflict.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 5:01 pm

GOOG

GOOGL

VGK

The EU Industry Chief has warned Alphabet's CEO to ensure compliance with EU tech rules, following the spread of disinformation after Hamas attacks in Israel. This comes as a part of the EU's efforts to regulate tech companies and their handling of information.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:44 pm