Streetbeat News

Corporate Responsibility

UBER

Smartcar has partnered with Uber Technologies to integrate EV battery level data into Uber's Driver app, reducing range anxiety for EV drivers. This feature will initially be available for select makes and models, with plans to expand. It aims to make EV rideshare more user-friendly and supports Uber's goal of becoming a zero-emission platform by 2030 in the U.S. and Canada, and carbon-free by 2040 globally. Uber is investing $800 million to assist drivers in transitioning to EVs, and Smartcar's technology enables battery range checks without additional hardware.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:08 pm

FXI

JPM

KBE

KRE

SPY

XLF

JP Morgan CEO Jamie Dimon, speaking at the NYT/Dealbook Summit, advocated for engagement with China, stating it is beneficial for American banks to have a presence there. He also mentioned ongoing discussions with China about managing security risks.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:42 pm

FREY

Freyr Battery (NYSE:FREY) shares are experiencing an uptick following an operations update where the company reported successful automated cathode casting runs, a critical step towards starting automated production at its plant. The positive update comes shortly after Freyr announced organizational changes to enhance long-term shareholder value.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 2:29 pm

RUM

Rumble (NASDAQ:RUM) has filed a federal defamation lawsuit in Florida against Check My Ads co-founders Nandini Jammi and Claire Atkin, and unidentified individuals, for allegedly spreading false information about Rumble's financial health and reliance on Google Ads revenue. Rumble claims this narrative is damaging as it contradicts their mission to be independent from Big Tech and poses a false financial risk. The company seeks damages and a prohibition on repeating the false claims. This lawsuit is part of a broader battle against censorship and follows similar legal actions by other companies.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:10 pm

NVEI

Nuvei Corporation has launched a card issuing solution in 30 markets, enabling clients to issue physical and virtual white-labelled cards. This service enhances working capital efficiency, improves authorization rates, offers seamless payouts, and increases customer loyalty. The solution is available in the European Economic Area, with plans to expand to the UK, US, and Latin America in 2024. Nuvei's CEO, Philip Fayer, highlights the solution's practical applications and its role in accelerating client business and expanding Nuvei's market.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:03 pm

AMZN

Aerodyne, a Malaysian drone services company, has partnered with Amazon Web Services (AWS) to leverage cloud computing for delivering insights to the telecommunications, agriculture, and energy industries. By using AWS, Aerodyne has reduced its data processing costs by 70% compared to its previous on-premises infrastructure. The collaboration also enhances safety for workers during cell tower inspections by utilizing drone technology.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:01 pm

GFL

GFL Environmental Inc. (NYSE:GFL) outlined its 2024 capital allocation strategy, focusing on sustainability investments and M&A to densify its footprint. The company plans to invest $250-$300 million in renewable natural gas projects and infrastructure under EPR legislation, and $600-$650 million in M&A within existing geographies. Total growth investments will not exceed $900 million, in addition to normal capital expenditures of $850-$900 million. These investments are expected to generate $80-$100 million of incremental Adjusted EBITDA by 2026. GFL's first RNG facility is operational, with more projects coming online from Q4 2024 to 2026. The company aims to achieve at least $2.2 billion of Adjusted EBITDA in 2024 and reduce leverage to the mid 3's, with growth investments adding 20 basis points to year-end Net Leverage, targeting between 3.65x and 3.85x.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:53 pm

TTEC

TTEC Holdings has expanded its global presence by opening a new customer experience delivery center in Cape Town, South Africa. This move is part of the company's strategic expansion in Africa and contributes to the growth of its global delivery footprint.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:37 pm

NEPT

Neptune Wellness Solutions Inc. (NASDAQ:NEPT) has announced that its subsidiary, Biodroga Nutraceuticals Inc., has secured an accounts receivable factoring facility with Alterna Capital Solutions, LLC. The facility starts at $3 million and can be increased to $8 million. It carries a minimum interest rate of 9.5% per annum and is secured by Biodroga's accounts receivable and inventory. The agreement is for 12 months starting November 8, 2023, with automatic renewal, and Neptune has provided a commercial guaranty.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:36 pm

PCSA

Processa Pharmaceuticals, Inc. (PCSA) CEO George Ng issued a shareholder letter detailing the company's pivot to oncology drug development, focusing on Next Generation Chemotherapy (NGC) agents to improve safety and efficacy for cancer patients. The letter outlines the current pipeline, including NGC-Capecitabine (PCS6422), NGC-Gemcitabine (PCS3117), and NGC-Irinotecan (PCS11T), all targeting various cancers. Processa aims to address chemotherapy's limitations and expand its market, leveraging a strong team and regulatory science approach. The company has a stable financial position with $6.9 million in cash as of September 30, 2023, and plans to out-license non-NGC assets to supplement funding. Upcoming milestones include completing Phase 1b study enrollment for NGC-Cap by early 2024 and meeting with the FDA to discuss Phase 2 study designs.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:18 pm