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Nvidia Corp is trading higher in line with broader market ETFs SPDR S&P 500 and Invesco QQQ Trust, Series 1. Amazon is reportedly designing custom microchips to bypass Nvidia GPUs for large language model training. Microsoft, Alphabet, and Meta Platforms are also focusing on in-house chip building. Nvidia might struggle with surging demand for AI chips, creating opportunities for Advanced Micro Devices. Chinese companies, including Huawei Technologies and Alibaba Group, are building their AI chips due to U.S. AI chip sanctions.

Portfolio Pulse from Anusuya Lahiri

August 14, 2023 | 2:27 pm

MANU

Manchester United Ltd (NYSE:MANU) shares are trading higher following reports that the company is preparing to announce a sale. The board has been exploring strategic alternatives for the club since last November and has been reviewing offers from multiple potential buyers. Cardiff City chairman Mehmet Dalman suggested a takeover deal will be announced soon, with the sale price estimated at £7.2bn-7.3bn.

Portfolio Pulse from Adam Eckert

August 14, 2023 | 2:25 pm

INTU

PYPL

PayPal Holdings, Inc (NASDAQ:PYPL) has appointed Alex Chriss, currently Executive Vice President and General Manager of Intuit's Small Business and Self-Employed Group, as its new CEO effective from September 27, 2023. Chriss, who has been with Intuit Inc (NASDAQ:INTU) for 19 years, will also join PayPal's Board. The announcement follows the planned retirement of current CEO Dan Schulman at the end of the year.

Portfolio Pulse from Anusuya Lahiri

August 14, 2023 | 2:24 pm

HRYU

Trading of Hanryu Holdings' shares has resumed.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 2:22 pm

HRMY

ZYNE

Harmony Biosciences (NASDAQ:HRMY) announced it will acquire Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) for $200 million. The purchase price is $1.1059 per share in cash, or $60 million in aggregate, plus one non-tradeable contingent value right (CVR) per share, representing the right to receive potential additional payments of up to $140 million. Zynerba's shares are up by more than 280% at $1.29.

Portfolio Pulse from Erica Kollmann

August 14, 2023 | 2:21 pm

ZYNE

Harmony Biosciences has announced its plans to acquire Zynerba Pharmaceuticals, leading to a rise in Zynerba's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 2:17 pm

LCID

Vanguard Group has reported an increased stake in Lucid Group, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 2:17 pm

IMPP

Imperial Petroleum Inc's (NASDAQ:IMPP) shares are trading lower by 4.0% to $1.56 after the company announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit. The stock is lower by 40% since Friday's open. The company also reported Q2 earnings of $1.46 per share and $59.04 million in sales, a 420% increase over the same period last year.

Portfolio Pulse from Henry Khederian

August 14, 2023 | 2:15 pm

SCCO

Southern Copper's (NYSE:SCCO) short percent of float has fallen 5.16% since its last report, with 5.17 million shares sold short, which is 6.07% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. However, Southern Copper's short interest as a percentage of float is higher than its peer group average of 3.75%.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:15 pm

GWW

W.W. Grainger's (NYSE:GWW) short percent of float has fallen 13.9% since its last report, with 1.01 million shares sold short, which is 2.54% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, W.W. Grainger has less short interest as a percentage of float, with an average of 4.95%.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 2:15 pm