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President Joe Biden celebrated the first anniversary of the Inflation Reduction Act (IRA), emphasizing its role in job creation, climate change mitigation, and deficit reduction. Biden attributed the decline in inflation to the IRA's success in reinvesting in America. He also highlighted the IRA's role in repositioning the U.S. in the global clean energy landscape, with ambitious goals for solar and wind power. Companies like Tesla Inc and First Solar Inc, as well as ETFs like the Global X U.S. Infrastructure Development ETF and iShares Global Clean Energy ETF, could benefit from these policies.

Portfolio Pulse from AJ Fabino

August 16, 2023 | 8:54 pm

QQQ

SPY

The July FOMC minutes reveal a divergence of views among Federal Reserve officials, with a majority emphasizing the presence of significant upside risks to inflation, potentially requiring further tightening of monetary policy. This led to a surge in the U.S. dollar and a rise in Treasury yields, while stocks stumbled. Economists suggest that the Fed might raise rates by a quarter-point in the last quarter if the economy keeps growing and wages remain elevated. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) both closed lower.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 8:53 pm

AMD

AMD's Ryzen 5 7500F is now available for purchase in the U.S. and Europe, as reported by Tom's Hardware.

Portfolio Pulse from Charles Gross

August 16, 2023 | 8:47 pm

SHOP

A large investor has taken a bullish stance on Shopify (NYSE:SHOP), with 70% of big-money traders also showing bullish sentiment. The investor's position was noticed through publicly available options history. The mean open interest for Shopify options trades today is 3474.0 with a total volume of 1,992.00. Whales have been targeting a price range from $50.0 to $80.0 for Shopify over the last 3 months.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 8:46 pm

CSCO

Cisco Systems, Inc. reported better-than-expected Q4 earnings, leading to a rise in its shares in the after-hours session. The company reported earnings of $1.14 per share, beating the analyst consensus estimate of $1.06. Revenues of $15.20 billion also surpassed the analyst consensus estimate of $15.05 billion, marking a 16.01% increase over the same period last year. Total software revenue and software subscription revenue were up 17% and 20% year-over-year respectively. The company estimates full-year 2024 earnings per share to be between $4.01 and $4.08, and revenue to be between $57 billion and $58.2 billion.

Portfolio Pulse from Ryan Gustafson

August 16, 2023 | 8:44 pm

IDEX

Ideanomics (IDEX) has received a notice from Nasdaq regarding the late filing of its quarterly report on Form 10-Q. The company is expected to submit the report soon to avoid any potential delisting.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:38 pm

ALIT

Alight Inc. has entered into a repurchase agreement with selling stockholders to purchase approximately $10 million shares of common stock. The transaction will be privately negotiated and will occur concurrently with the closing of the offering.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:34 pm

SNPS

Synopsys reported better-than-expected Q3 financial results and issued guidance, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:33 pm

ALIT

Alight, Inc. (NYSE:ALIT) has announced a secondary public offering of up to 22.5 million shares of its Class A common stock by certain funds affiliated with Blackstone Inc., Jasmine Ventures Pte. Ltd., and Platinum Falcon B 2018 RSC Ltd. The company has also entered into a repurchase agreement with the selling stockholders to repurchase an aggregate of $10 million of shares concurrently with the closing of the offering. The offering is expected to close on August 22, 2023.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:33 pm

PBTS

Powerbridge Technologies has received a Nasdaq notification letter regarding a minimum bid price deficiency. The company's stock, PBTS, is currently not meeting the minimum bid price of $1.00 per share required for continued listing on the Nasdaq Stock Market.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:32 pm