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AMZN

GOOG

MSFT

NVDA

Nvidia Corp's stock is trading higher as the U.S. prepares to implement another round of semiconductor technology sanctions on China. Many U.S. chip firms, including Nvidia, generate over 20% of their revenue from China. Nvidia and other chipmakers are urging the U.S. government to soften its China policy. Nvidia's revenue in the data center segment has soared from $339 million in fiscal 2016 to over $15 billion last year, bolstered by the launch of OpenAI’s AI chatbot ChatGPT. Nvidia GPUs are extensively used in AI and data centers of tech giants like Alphabet Inc, Microsoft Corp, and Amazon.Com, Inc.

Portfolio Pulse from Anusuya Lahiri

October 06, 2023 | 4:42 pm

DEO

Guinness Nigeria Plc, a unit of Diageo Plc (NYSE:DEO), plans to halt imports of certain spirits, including Johnnie Walker whiskey, from April 2024 due to currency fluctuations. This move aligns with Diageo's strategy to establish a new venture for managing spirit imports and distribution across West and Central Africa. The decision is expected to help Guinness Nigeria focus on its core business, fully utilize its assets, reduce foreign exchange requirements, and mitigate the impacts of foreign exchange scarcity and exchange rate volatility.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 4:33 pm

SPY

President Biden has stated that he was told he had no choice but to continue building new sections of the border wall. The impact on the stock market or specific companies is not directly mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:32 pm

FXI

SPY

President Biden has stated that there is no meeting set up with Chinese President Xi Jinping, but it remains a possibility. This statement could potentially impact the relations between the two countries and their respective economies.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:32 pm

SPY

President Biden has stated that he will work with whoever becomes the next House Speaker. The statement was made in response to questions about potential changes in the House leadership.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:31 pm

SPY

President Biden has stated that the U.S. economy does not need more tax cuts for the wealthy at this time. This statement could potentially impact the overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:30 pm

LCID

RIVN

TSLA

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have revamped the $7,500 EV tax credit system, making the savings immediate rather than waiting for a tax return. This applies to both new and previously owned clean vehicles. Dealers must register via a new IRS portal called Energy Credits Online to facilitate the transaction. The new rule is expected to boost the electric vehicle market in the U.S. Shares of Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN), and Lucid Group Inc (NASDAQ:LCID) saw a lift after the Treasury Department issued its new guidance.

Portfolio Pulse from AJ Fabino

October 06, 2023 | 4:27 pm

TELA

First Light Asset Management, LLC has reported a 10.33% stake in TELA Bio, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:52 pm

SLNO

Janus Henderson Group plc has acquired a 10.1% stake in Soleno Therapeutics, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:48 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is reportedly working on a new project named 'Giga Water Loop', according to a building permit discovered by Electrek. The permit details a project with an Austin Energy electric pole located near a proposed pipe on the northern side of the river. However, no further details about the project have been revealed. Tesla's Gigafactory Texas, where the project is presumably located, is a comprehensive manufacturing site for the Model Y, Cybertruck, battery cells, and cathode materials.

Portfolio Pulse from Benzinga EV Insights

October 06, 2023 | 3:40 pm