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GOOG

GOOGL

WMT

Walmart-backed fintech giant, PhonePe, has launched the Indus AppStore Developer Platform in India, challenging Google's dominance in the app store market. The platform offers zero platform fees and no commissions on in-app purchases, contrasting Google's model. The Indus AppStore also features locally relevant features, such as support for 12 Indian languages and third-party payment providers. PhonePe's move comes amid growing discontent among Indian developers with Google's operational practices.

Portfolio Pulse from Anusuya Lahiri

September 25, 2023 | 2:33 pm

NEPT

Neptune Wellness Solutions Inc (NASDAQ:NEPT) shares are trading lower by 10% after the company announced pricing of a $4.5 million public offering of 1.8 million shares at $2.50 per share. The company plans to use the proceeds for working capital, including payment of accounts payable due to suppliers.

Portfolio Pulse from Henry Khederian

September 25, 2023 | 2:25 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) announced a strategic partnership with AI startup Anthropic, investing up to $4 billion and acquiring a minority stake. Anthropic will use Amazon Web Services (AWS) for its future foundation models and become AWS's primary cloud provider. The partnership will provide AWS customers with early access to unique features for its models and Amazon developers will have access to Anthropic models. Following the announcement, Amazon's shares traded higher.

Portfolio Pulse from Adam Eckert

September 25, 2023 | 2:23 pm

AMTD

HKD

AMTD Group, AMTD IDEA Group, and AMTD Digital have announced a long-term strategic alliance with L'Officiel and ENVISEAM. The alliance aims to deliver world-class content across various platforms and reshape economic paradigms with culture and deep intellectual property. The partnership has already resulted in ENVISEAM successfully anchoring its Pre-Series A funding round, led by L'OFFICIEL.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 2:22 pm

GT

Goodyear Tire & Rubber Company (NASDAQ:GT) plans to redefine its operational presence in the Asia Pacific region, transitioning from owning its establishments to a third-party distribution and retail model. This will result in the loss of around 700 roles, exit of nine warehouse sites, and the divestment or cessation of nearly 100 retail and fleet outlets. The company expects these actions to improve Asia Pacific's segment operating income by approximately $50 million to $55 million in 2025 and annually thereafter.

Portfolio Pulse from Shivani Kumaresan

September 25, 2023 | 2:21 pm

WSM

Green Equity Investors IX, L.P. has increased its stake in Williams-Sonoma to 5%, according to a 13G filing. This has led to a rise in Williams-Sonoma's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 2:19 pm

WSM

Green Equity Investors IX, L.P. has increased its stake in Williams-Sonoma to 5%, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 2:16 pm

ICNC

Iconic Sports Acquisition Corp. (ICNC) has announced that it will redeem all of its issued and outstanding Class A ordinary shares at a per-share redemption price of approximately $10.82. The redemption is due to the company's inability to consummate an initial business combination within the required time period. The shares are expected to be redeemed on or around October 11, 2023. The company's agreement with Eagle Football Holdings Limited has expired. The company will cease all operations except for winding up after October 11, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:51 pm

GWH

HON

Honeywell International Inc (HON) has entered into a strategic collaboration with ESS Tech, Inc (GWH) to advance the development and market adoption of iron flow battery (IFB) energy storage systems. Honeywell has also invested in ESS Tech, though the financial terms were not disclosed. The global energy storage market is estimated to be $50 billion per year and is forecast to grow significantly with a cumulative investment of up to $3 trillion by 2040.

Portfolio Pulse from Shivani Kumaresan

September 25, 2023 | 1:37 pm

NIO

NIO Inc's shares experienced heavy selling pressure following rumors that the company was planning to raise $3 billion. The stock recovered after NIO clarified that it has no reportable capital raising activity beyond its convertible notes offering announced last week. The company recently closed its $1 billion notes offering and as of the end of June, had approximately $4.3 billion in cash and equivalents.

Portfolio Pulse from Adam Eckert

September 25, 2023 | 1:14 pm