Streetbeat News

Partnerships

HYPR

Hyperfine has entered into agreements with distributors in France, the UK, and Italy to expand its market presence in Europe. This strategic move aims to enhance the company's distribution network and increase access to its innovative medical imaging technology in these key European markets.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 1:02 pm

NVAX

A Novavax executive stated during a conference call that they expect royalties and milestones from their deal with Sanofi to exceed the value of what the company's own efforts might have yielded.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 12:49 pm

ITOS

LIDR

NVAX

Shares of iTeos Therapeutics, Novavax, and AEye are trading higher due to significant corporate developments. iTeos announced a $120 million offering and Q1 results, Novavax reported strong Q1 earnings and updated guidance, and AEye revealed a partnership with LITEON Technology.

Portfolio Pulse from ryanfaloona@benzinga.com

May 10, 2024 | 12:41 pm

AMZN

CART

DASH

UBER

WMT

Uber Technologies Inc (NYSE:UBER) reported a mixed Q1 with revenue growth but an unexpected loss due to legal issues. Revenue grew 15% to $10.13 billion, slightly above estimates, but net loss widened to $654 million. Mobility and delivery segments showed growth, but freight contracted. Uber forecasts higher gross bookings for Q2. Instacart (NASDAQ:CART) announced restaurant delivery through Uber Eats, competing with DoorDash (NASDAQ:DASH), Amazon.com (NASDAQ:AMZN), and Walmart (NYSE:WMT). Instacart reported an 8% revenue growth and a net income of $130 million.

Portfolio Pulse from Upwallstreet

May 10, 2024 | 12:35 pm

AMD

AOTG

ARM

INTC

NVDA

SOXQ

AMD has increased its market share in the client and server segments of the x86 processor market, despite competition from Intel. However, AMD faced a significant drop in gaming revenue due to decreased console demand. Intel gained market share due to AMD's reduced SoC business. AMD's server CPU market gains and competition with Nvidia in the merchant accelerators market were highlighted, alongside potential revenue synergies from the Xilinx acquisition. Arm Holdings is seen as a potential disruptor in the server CPU market due to AI adoption. AMD stock is accessible through AOT Growth And Innovation ETF and Invesco PHLX Semiconductor ETF.

Portfolio Pulse from Anusuya Lahiri

May 10, 2024 | 12:15 pm

NVAX

SNY

Novavax Inc has entered a significant co-exclusive licensing agreement with Sanofi SA for COVID-19 and flu-COVID-19 combination vaccines. The deal includes an upfront payment of $500 million to Novavax, potential milestones up to $1.2 billion, and tiered royalty payments on sales. Sanofi will also make a minority equity investment in Novavax. This partnership aims to co-commercialize Novavax's adjuvanted COVID-19 vaccine globally, excluding certain regions with existing agreements. Novavax reported improved financials with a reduced EPS loss and increased sales, though slightly below consensus. The company also announced a cost reduction program and updated its revenue guidance for 2024.

Portfolio Pulse from Vandana Singh

May 10, 2024 | 12:06 pm

Ford Motor Company announces leadership changes to bolster its Ford+ plan and drive profitable growth, particularly in EVs, software, and services. John Lawler, current CFO, will become vice chair while continuing as CFO until Sherry House, formerly CFO at Lucid Motors, joins Ford as vice president, Finance, and is planned to succeed Lawler as CFO in early 2025.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 12:03 pm

GXO

GXO Logistics has opened a new distribution hub for Conair, aiming to create around 700 new jobs over the next decade. This expansion is part of GXO's strategy to enhance its logistics capabilities and support Conair's distribution needs.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 11:14 am

INSE

Inspired Entertainment, Inc. has launched its NBA Re-Play virtual sports product in Greece in partnership with OPAP, a leading Greek betting and lottery company. This move marks a significant expansion of Inspired Entertainment's virtual sports offerings and its presence in the European betting market. The NBA Re-Play product allows users to bet on simulated NBA games using historical NBA game footage, providing a unique betting experience. This launch is expected to enhance the company's revenue streams and strengthen its position in the virtual sports sector.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 11:03 am

LIDR

AEye, Inc. (LIDR) shares are trading higher following the announcement of a partnership with LITEON Technology Corporation, indicating a positive market response to the new collaboration.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:54 am