Streetbeat News

Corporate Responsibility

CBT

Cabot Corporation and its partners have been selected to receive a $5 million grant from the U.S. Department of Energy to support the development of innovative, scalable manufacturing processes for producing carbon catalyst supports for fuel cells. This initiative aims to enhance fuel cell deployment by improving the production efficiency and reducing costs of key components.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:07 pm

CARR

Carrier Global Corporation (NYSE:CARR) announced an investment and technology partnership with Strategic Thermal Labs (STL) for the development of a liquid cooling solution for data centers. This technology is expected to significantly reduce energy consumption in data centers, with the liquid cooling market projected to grow to $3-5B by 2028. Carrier's investment in STL, following its acquisition of Nlyte in 2021, aligns with its ESG goals to reduce greenhouse gas emissions and develop sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:06 pm

INVZ

Innoviz Technologies Ltd. (NASDAQ:INVZ) successfully completed an 18-day winter test of its InnovizTwo LiDAR and Perception Software in extreme conditions across ten countries. This test demonstrated the robustness and reliability of Innoviz's technology, essential for advanced autonomous driving. The company's achievement is a significant R&D milestone, showcasing its commitment to leading the automotive LiDAR market. Innoviz also received TÜV SÜD Certification for Roof Racks, further establishing its industry credibility. Market projections suggest a significant increase in LiDAR scanner sales in the automotive sector by 2035.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:05 pm

COIN

Nana Murugesan, a former Coinbase executive, has joined Matter Labs as its first president to help scale zkSync, a technology designed to enhance the Ethereum blockchain. Murugesan's move is seen as a significant step for Matter Labs, especially in a bear market, highlighting the ongoing innovation within the blockchain space. Matter Labs, which recently raised $200 million, aims to expand its team and operations under Murugesan's leadership.

Portfolio Pulse from Murtuza Merchant

April 18, 2024 | 12:58 pm

RENB

Renovaro Inc. (NASDAQ:RENB), a leader in AI-driven cancer diagnostics and therapeutics, announces Professor Dr. Geert Kazemier as the Chairman of its Scientific Advisory Board. Kazemier's extensive experience in oncology and his role at Amsterdam University Medical Center's Cancer Center align with Renovaro's mission to advance cancer care through AI and immunotherapy. His leadership is expected to guide Renovaro's strategic initiatives, enhancing its position in cancer diagnosis, monitoring, and treatment innovation.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:55 pm

VIR

Sung Lee, the Executive Vice President and CFO of Vir Biotechnology, will resign effective May 3, 2024, to pursue a new career opportunity. The company has begun searching for his successor. His departure is not due to any disagreements with the company's operations, policies, or practices.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:49 pm

SOAR

Volato Group, Inc. (NYSE:SOAR), the largest HondaJet operator in the U.S., announced its Q1 2024 KPIs, showing growth in total flight hours, a decrease in empty percentage, and a stable demand mix between owner and program & ad hoc flights. Despite challenges like winter weather, the company maintained a strong blended yield and a high Net Promoter Score, indicating continued operational success and customer satisfaction.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:43 pm

GOOG

GOOGL

IXP

XLC

Alphabet Inc's Google has initiated another round of job cuts, focusing on the real estate and finance departments as part of its ongoing cost-cutting measures. This move is in response to the economic uncertainties in the tech industry, aiming to streamline operations and align resources with key product initiatives. Despite the layoffs, Google continues to expand internationally and invest in AI, cloud, and hardware, which analysts believe could lead to a re-evaluation of Alphabet's shares. GOOG stock has seen a 49% increase over the last 12 months, with potential exposure through IXP and XLC ETFs.

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 12:39 pm

ACHR

Archer Aviation Inc. (NYSE:ACHR) has announced strategic hires and the opening of a new office in Washington D.C. to bolster its government relations efforts as it prepares for the commercial launch of its electric vertical takeoff and landing (eVTOL) aircraft. The team, led by former FAA Chief Billy Nolen, includes key policy and regulatory affairs leaders. The new office is located near FAA and DOT headquarters and will showcase Archer's eVTOL technology to policymakers. This move is part of Archer's proactive approach to efficiently progress through the U.S. regulatory process.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:38 pm

NRXP

NRx Pharmaceuticals, Inc. (NRXP) announced a $2M underwritten public offering of its common stock at $3.30 per share. The offering includes an option for underwriters to purchase additional shares and is expected to close on April 19, 2024. Proceeds will be used for working capital, general corporate purposes, and possibly to repay debt.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:35 pm