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Regulatory

CVNA

Carvana Co (NASDAQ:CVNA) shares surged by 7.72% to $143.78 on Tuesday, driven by a softer-than-expected Producer Price Index (PPI) report. The July PPI data showed a 0.1% month-over-month increase, below the anticipated 0.2%, fueling investor speculation of a potential aggressive interest rate cut by the Federal Reserve. This could ease Carvana's financial burden and make auto financing more affordable, potentially boosting sales and revenue.

Portfolio Pulse from Henry Khederian

August 13, 2024 | 5:15 pm

GOVX

SIGA

SPY

The U.S. is closely monitoring the spread of Mpox in Central Africa, according to a Reuters report citing the State Department.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 4:37 pm

MZDAF

Ford Motor Company and Mazda Motor Corp. have issued urgent 'Do Not Drive' alerts for over 457,000 vehicles with unrepaired Takata airbags. The National Highway Traffic Safety Administration (NHTSA) has confirmed that defective Takata airbags have caused 27 fatalities and injured at least 400 people in the U.S. Ford has made extensive efforts to inform customers, resulting in 95% of U.S. customers addressing their recalls. The advisory affects various Ford, Lincoln, Mercury, and Mazda vehicles.

Portfolio Pulse from Nabaparna Bhattacharya

August 13, 2024 | 4:29 pm

CGC

MSOS

TLRY

Roger Stone, a longtime ally of former President Donald Trump, believes that Trump's endorsement of a Florida marijuana legalization initiative would guarantee its victory. Trump has yet to take a definitive stance but has indicated he will make a statement soon. The initiative, Amendment 3, has mixed support and opposition, with significant financial backing on both sides. The measure would allow adults 21 and older to purchase and possess cannabis, potentially generating significant tax revenue for the state.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 3:43 pm

AMSC

On August 12, 2024, American Superconductor filed a prospectus for the resale of up to 1.3 million shares of common stock with the SEC.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 3:24 pm

BIDU

NVDA

VGT

XLK

Nvidia Corp (NASDAQ:NVDA) may face challenges in the Chinese market due to Huawei's new AI chip, the Ascend 910C. This chip aims to fill the void left by U.S. export controls that prevent Nvidia from selling its advanced chips in China. Major Chinese companies like ByteDance and Baidu Inc (NASDAQ:BIDU) have shown interest in Huawei's chip, potentially threatening Nvidia's market share. Despite this, Nvidia's stock has risen over 149% in the last 12 months. Investors can gain exposure to Nvidia through SPDR Select Sector Fund – Technology (NYSE:XLK) and Vanguard Information Tech ETF (NYSE:VGT).

Portfolio Pulse from Anusuya Lahiri

August 13, 2024 | 3:11 pm

SPY

USO

The Biden administration has lifted restrictions on the sale of bombs to Saudi Arabia, resuming shipments worth over $750 million. This move reflects Saudi Arabia's central role in U.S. Middle East policy.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:49 pm

AMZN

TLN

Talen Energy is proceeding with the initial buildout of an Amazon data center despite facing regulatory pushback.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:37 pm

GOOG

GOOGL

The U.S. Federal Trade Commission (FTC) has outlined its concerns regarding remedies in an amicus brief following a jury verdict that found Google illegally monopolized its app store. This development could have significant implications for Google's business operations and regulatory environment.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:33 pm

BYDDF

TSLA

The global electric vehicle (EV) market continues to grow, with China leading the charge with a 31% increase in sales over the past year. In contrast, EV sales in the EU and UK have declined by 8%. Tesla's sales in China surged by 15% year-on-year in July, despite a dip in the overall NEV market. The European Commission has imposed provisional tariffs on Chinese EV imports, which will have a lesser impact on Tesla and BYD. BYD's pure EV sales fell by nearly 4% in July, raising concerns about EV demand.

Portfolio Pulse from Lekha Gupta

August 13, 2024 | 1:56 pm