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MU

SSNLF

TSM

Powerchip Semiconductor Manufacturing Corp (PSMC) is planning to build a $5.3 billion semiconductor plant in Japan in partnership with SBI Holdings, aiming to start production in 2027. The project faces a significant challenge due to a shortage of chip engineers. PSMC plans to transfer over 200 engineers from Taiwan and train young Japanese engineers to overcome this. The initiative could also benefit competitors like Taiwan Semiconductor Manufacturing Co (TSMC), which is also expanding in Japan along with Micron Technology, Inc (MU), and Samsung Electronics Co (SSNLF). TSMC's shares dropped by 2.99% to $134.12.

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 6:27 pm

VMEO

Vimeo, identified by its ticker VMEO, is reportedly attracting acquisition interest from the app developer Bending Spoons, according to Bloomberg. This news could indicate a significant development for Vimeo, potentially affecting its market position and stock performance.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 6:11 pm

MS

Elon Musk's $44 billion acquisition of X (formerly Twitter) involved financing from personal funds, Tesla stock sales, and contributions from investors like Fidelity, Ark Invest, Baron Funds, and Jack Dorsey. Banks, led by Morgan Stanley (NYSE:MS), are seeking to refinance about $12.5 billion in debt from the deal. Morgan Stanley, which covered a quarter of the debt, reported $876 million in losses from corporate loans in 2022. The banks have agreed not to sell their debt until X is financially stable. Fidelity has adjusted X's valuation, currently at $14.1 billion, amidst a boycott and potential for additional capital raising by Musk.

Portfolio Pulse from Chris Katje

March 05, 2024 | 6:10 pm

AVGO

HACK

KNCT

Broadcom Inc (NASDAQ:AVGO) introduced WatchTower, an open observability solution designed to enhance business performance by simplifying the identification and resolution of incidents within the mainframe environment. WatchTower integrates various data sources to break down IT silos and improve operations. It also incorporates OpenTelemetry for streaming insights to tools like Datadog and Grafana. Additionally, Broadcom halted the sale of its security software unit, Carbon Black. Investors can gain exposure to Broadcom through ETFs like HACK and KNCT. AVGO shares dropped 3.41% to $1,354.35.

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 5:04 pm

MNTS

Momentus Inc (NASDAQ:MNTS) shares surged after securing a contract from NASA for flight and payload integration services, part of a $45 million deal with a 5-year performance period. Additionally, Momentus announced a securities purchase agreement for $4.0 million in gross proceeds.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 4:47 pm

CDNS

Cadence announced the acquisition of BETA CAE for approximately $1.24 billion, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:43 pm

BUD

TLRY

A Canadian study published in Drug and Alcohol Dependence found that legalizing cannabis led to a decline in beer sales, with an immediate drop of 96 hectoliters per 100,000 people and a further monthly decline of four hectoliters. Canada's excise tax revenue from cannabis in the 2022-23 fiscal year surpassed that from wine and beer combined. Tilray Brands (TLRY) acquired eight beer brands from Anheuser-Busch (BUD), positioning itself in both the beer and cannabis markets. Tilray's CEO plans to infuse these drinks with THC or CBD upon U.S. legalization.

Portfolio Pulse from Maureen Meehan

March 05, 2024 | 4:40 pm

MSFT

NVDA

Singapore's state-owned investment firm Temasek is in discussions with OpenAI for potential investment. The talks, initially focused on investing in Sam Altman's Hydrazine Capital, have shifted towards OpenAI directly. This comes as OpenAI's CEO, Sam Altman, seeks funding for a global semiconductor manufacturing project, estimated to cost $7 trillion, to boost AI infrastructure. Microsoft Corporation (MSFT) is OpenAI's largest investor, with a $13 billion investment, while Nvidia Corporation (NVDA) provides GPUs for OpenAI's systems.

Portfolio Pulse from Neil Dennis

March 05, 2024 | 4:17 pm

ACN

Accenture (NYSE:ACN) is set to acquire Udacity, an EdTech leader known for its digital education in technology, data, and AI. This acquisition aims to enhance Accenture LearnVantage by integrating Udacity's proprietary content, expert services, and scalable learning technology. Udacity's team of over 230 professionals will join Accenture, bringing their expertise to Accenture's clients. The terms of the transaction were not disclosed, and the completion is subject to customary closing conditions, including antitrust clearances.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:13 pm

GRUSF

Grown Rogue International Inc (OTCPK: GRUSF) is expanding into the Illinois cannabis market through a partnership with EBC Ventures, forming Rogue EBC LLC. This joint venture has acquired CannEquality LLC, which holds a craft growers license in Illinois, and plans to develop a 50,000 square foot facility in Waukegan, Illinois, with up to 14,000 square feet of cultivation space. The facility is expected to be operational by the second half of 2025. Grown Rogue's investment of up to $6,000,000 in the venture highlights its commitment to growth and market presence in Illinois, a state with over $1.5 billion in recreational cannabis sales in 2023.

Portfolio Pulse from Patricio Liddle

March 05, 2024 | 4:11 pm