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Partnerships

NVAX

Novavax has updated its Full Year 2024 Financial Guidance, now expecting combined revenue and Sanofi agreement payments to range between $970M and $1.17B, up from the previous forecast of $800M to $1B. Additionally, the company anticipates combined R&D and SG&A expenses to be between $700M and $750M, a slight improvement from the prior estimate of $700M to $800M.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:23 am

NVAX

SNY

Novavax and Sanofi have entered into a co-exclusive licensing agreement to co-commercialize a COVID-19 vaccine and develop COVID-19-Influenza combination vaccines. The deal includes a $1.2 billion investment in Novavax, comprising a $500 million upfront payment and up to $700 million in additional milestones, plus tiered royalties. Novavax will also receive up to $200 million in milestones and royalties for each additional vaccine developed using its adjuvant technology. This partnership aims to enhance access to protein-based, non-mRNA COVID-19 vaccines from 2025 and accelerate the development of a novel combination vaccine.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:10 am

AVGO

INTC

QCOM

China's Semiconductor Manufacturing International Corp (SMIC) reported a significant drop in profit margin to a 15-year low, despite a 19.7% revenue increase in Q1 2024. The decline to 13.7% is attributed to U.S. export controls and expansion costs. SMIC anticipates further margin declines as it focuses on meeting demand from clients like Huawei. U.S. firms Intel, Broadcom, and Qualcomm continue to see significant revenue from China despite geopolitical tensions.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 2:58 am

GOOG

GOOGL

MSFT

OpenAI, known for its ChatGPT product, is reportedly set to announce an AI-powered search product, potentially ahead of Google's I/O conference. This move could intensify the rivalry with Alphabet Inc.'s Google, which also plans to unveil AI-related products. OpenAI's search product, an extension of ChatGPT, aims to provide accurate, real-time web information. Microsoft Corporation, having invested significantly in OpenAI, previously integrated ChatGPT with Bing for paid subscribers. Google and Microsoft are enhancing their search engines with generative AI features, amidst a competitive landscape that includes other AI search initiatives.

Portfolio Pulse from Ananya Gairola

May 10, 2024 | 1:51 am

GOOGL

MSFT

OpenAI is set to announce a new AI-powered search product on Monday, aiming to compete with Google's search engine. This move intensifies the rivalry between OpenAI, supported by Microsoft, and Alphabet's Google. The product, an extension of ChatGPT, will allow the chatbot to fetch real-time information from the web with citations. The announcement is strategically planned before Google's I/O conference. Meanwhile, startup Perplexity, with a former OpenAI researcher and 10 million monthly users, is also mentioned as a competitor in the AI search space.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:40 pm

LIDR

AEye, Inc. (LIDR) shares surged following the announcement of a partnership with LITEON Technology Corporation, signaling a positive development for the company.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:13 pm

LIDR

AEye, Inc. (NASDAQ:LIDR) and LITEON Technology Corporation have announced a partnership to supply AEye's 4Sight-based lidar products to automotive OEMs for use in Advanced Driver Assistance Systems (ADAS). This collaboration aims to leverage AEye's capital light business model and LITEON's industrialization capability to deliver competitive long-range lidar solutions.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:12 pm

META

NTDOY

Nintendo ADR (OTC:NTDOY) announced it will end X/Twitter integration on the Switch by June 10, 2024, following similar moves by PlayStation and Xbox. The decision, influenced by X's increased API charges, affects sharing capabilities to X but retains Meta Platforms Inc.'s (NASDAQ:META) Facebook integration. X, despite the change, commits to enhancing the gaming community's experience and continues its partnership with Nintendo.

Portfolio Pulse from Franca Quarneti

May 09, 2024 | 9:59 pm

EVC

Entravision has appointed Mark Boelke as its new CFO. Boelke, with over 30 years of experience in business and legal fields, particularly in media, advertising, and technology, has been with Entravision since 2005, serving as General Counsel and Secretary since 2006. His expertise includes mergers and acquisitions, strategic partnerships, and corporate finance among others.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:47 pm

NVDA

RXRX

Recursion Pharmaceuticals Inc (RXRX) shares rose in after-hours trading following Q1 earnings that surpassed analyst expectations. The company reported $13.491 million in revenue, beating estimates of $12.65 million, and a loss of 39 cents per share, better than the expected 42 cents loss. Recursion highlighted its partnership with Nvidia (NVDA) in expanding its supercomputer capabilities, specifically mentioning the near completion of BioHive-2, a powerful supercomputer designed with Nvidia's help. Nvidia has also been identified as a significant investor in Recursion.

Portfolio Pulse from Adam Eckert

May 09, 2024 | 9:25 pm