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AMD

BIDU

GOOG

GOOGL

NVDA

China's $40 billion state fund aims to boost the domestic chip industry, challenging US companies like Nvidia and AMD. The fund is a response to the US semiconductor embargo that barred China from acquiring Nvidia and AMD's AI chips. Meanwhile, Huawei and SMIC have built an advanced 7-nanometer processor, and Baidu has announced over ten new AI-based applications. US chipmakers warn of potential damage from the embargo.

Portfolio Pulse from Anusuya Lahiri

September 05, 2023 | 2:13 pm

FANG

VNOM

Viper Energy Partners LP (VNOM), a subsidiary of Diamondback Energy Inc (FANG), plans to acquire mineral and royalty interests from Warwick Capital Partners and GRP Energy Capital for $750 million and 9.02 million VNOM common units. The deal includes about 7,300 net royalty acres in the Permian Basin and other major basins. The transaction is expected to close by mid-Q4 FY23. VNOM expects the production to increase to ~4,750 bo/d (~8,500 boe/d) for 2024. VNOM provided FY24 preliminary guidance, expecting average daily production guidance of 25,500 to 27,500 bo/d (44,500 to 48,000 boe/d).

Portfolio Pulse from Lekha Gupta

September 05, 2023 | 2:11 pm

SPY

The USA Durables Excluding Defense (MoM) for July has been reported at -5.5%, slightly worse than the prior figure of -5.4%.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 2:01 pm

NSANY

Nissan Motor Co., Ltd. (OTC:NSANY) will delay the production of its next 'Kicks' SUV model in Mexico by about six months due to an alleged theft of some mold components at a local supplier. The production, which was scheduled to start in December, will likely begin around June 2024. NSANY shares closed lower by 0.47% to $8.49 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2023 | 2:01 pm

CSGP

CoStar Gr (NASDAQ:CSGP) has outperformed the market over the past 10 years by 7.11% on an annualized basis, producing an average annual return of 17.4%. If an investor had bought $1000 of CSGP stock 10 years ago, it would be worth $5,107.64 today.

Portfolio Pulse from Benzinga Insights

September 05, 2023 | 2:00 pm

NTR

Over the past 20 years, Nutrien (NYSE:NTR) has outperformed the market by 2.18% on an annualized basis, producing an average annual return of 9.85%. If an investor had bought $1000 of NTR stock 20 years ago, it would be worth $6,559.73 today.

Portfolio Pulse from Benzinga Insights

September 05, 2023 | 2:00 pm

SPY

USA Factory Orders for July have decreased by 2.1%, which is less than the estimated decrease of 2.5%. The previous month's factory orders had increased by 2.3%.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:00 pm

AULT

Ault Alliance Inc plans to sell its four recently renovated Midwest hotels for about $100 million. The sale is driven by the company's desire to focus on its core businesses, including the crane rental business, the California licensed lender, and data center operations. The company plans to use the proceeds from the sales of the hotel properties to pay off debt and commit more capital to its core businesses.

Portfolio Pulse from Shivani Kumaresan

September 05, 2023 | 1:51 pm

EWJ

MGM

The Osaka prefectural and municipal governments have announced a delay in the opening of a planned casino resort to autumn 2030, a year later than initially planned. The delay is due to the plan not receiving central government approval until April 2023. The initial investment will also increase to ¥1.27 trillion from ¥1.08 trillion due to rising construction material costs. The resort will be constructed and operated by a company led by MGM Resorts International and Japan's Orix.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 1:42 pm

JNJ

KVUE

Johnson & Johnson (JNJ) plans to use the proceeds from the recent separation of its consumer-health segment Kenvue Inc (KVUE) to bolster its growth in pharmaceuticals and medical technology. The strategy could include new acquisitions, product enhancements, and a deeper dive into robotics. The divestiture of its Kenvue stake will lead to annual savings of more than $900 million in dividend expenses. JNJ shares are up 0.10% at $160.63.

Portfolio Pulse from Vandana Singh

September 05, 2023 | 1:39 pm