Stocks of the Hour: Perpetual, Santos & Brainchip

A milestone was achieved with Perpetual (ASX:PPT) after their assets under management hit $101 billion for the first time. The group expanded in all four divisions, with asset growth up 2.7 per cent in the September quarter. Shares closed 7.8 per cent higher at $40.38.

A quarterly sales record was achieved by energy giant Santos (ASX:STO) after sales revenue surged 6.0 per cent to $1.52 billion in the September quarter. Gas production was strong in Queensland and Papua New Guinea. The energy giant also had success with a start-up of the first well at the gas project in the Timor Sea. Shares closed 1.1 per cent lower at $7.20.

Brainchip (ASX:BRN) is now taking orders for two development kits for its artificial intelligence (AI) chips called Akida1000, a move that the company describes as a “major step to full commercialisation” of its technology. The U.S. Patents and Trademarks office has also granted the company their fifth patent for its AI chip to do “spontaneous machine learning and feature extraction”. Shares closed 6.7 per cent higher at $0.48.

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