Streetbeat News

Partnerships

RUN

Sunrun (NASDAQ:RUN), a leading clean energy provider, has networked over 16,200 home solar-plus-storage systems in California to support the state's electrical grid, particularly during peak demand times in summer. This initiative, known as CalReady, aims to reduce grid strain and prevent power emergencies by supplying critical energy. Sunrun's efforts have doubled the capacity and participant number from the previous year, making CalReady the largest virtual power plant in the country. The program, part of California's Strategic Reliability Reserve, compensates Sunrun customers for sharing their stored solar energy, enhancing grid resilience and reducing the risk of blackouts.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 9:03 pm

DVAX

Dynavax has reaffirmed its full-year 2024 financial guidance, expecting an increase in cash and equivalents year-over-year by December 31, 2024. The company anticipates HEPLISAV-B net product revenue to be between $265 million and $280 million, which includes about $3 million from ex-U.S. sales through a commercialization partnership in Germany. Additionally, the HEPLISAV-B gross margin is projected to be around 80%.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:56 pm

AMC

AMC Entertainment Holdings (NYSE:AMC) reported Q1 financial results with revenue of $951.4 million, slightly down by 0.3% YoY but surpassing the consensus estimate of $871.0 million. The company also reported a smaller-than-expected loss of 78 cents per share. Despite a 6% decline in the North American box office, AMC gained domestic market share and ended the quarter with $624 million in unrestricted cash, having raised an additional $124.1 million from the sale of common shares. CEO Adam Aron highlighted the impact of Hollywood strikes on the box office but remains optimistic about future film lineups and partnerships with musical artists, including a unique event with Billie Eilish.

Portfolio Pulse from Chris Katje

May 08, 2024 | 8:42 pm

AMC

AMC has announced its ongoing interactions with several musical artists, aiming to capitalize on the success of its Taylor Swift and Beyonce films in 2023. This strategy suggests a continued focus on leveraging popular music content to attract audiences.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:29 pm

BHP

CMP

IDR

USAU

Gold King, a subsidiary of U.S. Gold (NYSE:USAU), received a key permit from the Wyoming Department of Environmental Quality, advancing its project development. Ivanhoe Electric (NYSE:IE) and BHP (NYSE:BHP) launched a mining alliance to explore and develop projects in the Southwest U.S., with BHP funding $15 million initially. Compass Minerals (NYSE:CMP) reported fiscal Q2 results, announcing dividend suspension to save $25 million annually and other cost-saving measures. Idaho Strategic Resources (NYSE:IDR) signed an MOU with Radiant Industries to potentially operate meltdown-proof microreactors.

Portfolio Pulse from austin@walkonholdings.com

May 08, 2024 | 8:12 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

SOLUSD

Cryptocurrency markets remained stagnant with Bitcoin, Ethereum, Dogecoin, and others trading slightly down. Notable developments include FTX's plan to repay customers with interest, a major trading firm's $1B Bitcoin ETF purchase, and Hong Kong's launch of a $128M Crypto ETF Liquidity Fund. Analysts remain optimistic about Bitcoin's potential, predicting significant price targets despite current market consolidation.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 8:03 pm

NLCP

NewLake Capital Partners, Inc. (NLCP) is investing $16M in a Connecticut marijuana cultivation facility, expanding its partnership with C3 Industries. The investment includes a $4M purchase price and a $12M construction allowance for retrofitting a former cold-storage facility. This marks the second collaboration between NewLake and C3, following a previous partnership on a Missouri cultivation facility. The new Connecticut facility aims to produce high-quality indoor cannabis and drive economic development. The investment comes amid news that the DEA may reclassify marijuana, potentially benefiting the cannabis sector.

Portfolio Pulse from Jelena Martinovic

May 08, 2024 | 8:01 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has secured agreements to add Lords of the Fallen and Sniper Ghost Warrior Contracts 2 to its Xbox Game Pass service, as confirmed by CI Games. The games are expected to be available on both Xbox and PC Game Pass. Lords of the Fallen, developed by Hexworks, and Sniper Ghost Warrior Contracts 2, developed by CI Games, are the highlighted additions. This announcement comes amidst a restructuring within Microsoft's gaming division, including the closure of several Bethesda studios.

Portfolio Pulse from Franca Quarneti

May 08, 2024 | 7:38 pm

EQNR

SLI

Equinor ASA has formed a strategic partnership with Standard Lithium Ltd, investing up to $160 million in Standard Lithium's sustainable lithium projects in the Smackover Formation. Equinor acquires a 45% stake in these projects, including a $30 million initial payment and up to $130 million in contingent investments. This partnership aims to accelerate the development of these projects, with Equinor funding significant portions of the development and exploration costs. Standard Lithium will remain the majority owner and operator, benefiting from Equinor's expertise in project development and financing. The deal strengthens Standard Lithium's financial position and marks Equinor's entry into the lithium market.

Portfolio Pulse from Shivani Kumaresan

May 08, 2024 | 7:01 pm

OWL

The NFL is considering a rule change to allow teams to sell up to 30% of their franchise to private equity, potentially opening investment opportunities in NFL teams. The Green Bay Packers are currently the only publicly traded NFL team, offering a ceremonial investment. A special committee is reviewing the rule change, with a decision expected by October. Private equity firms would need NFL approval and possibly a dedicated fund for team ownership. This change could help teams capitalize on rising valuations and fund new ventures. NFL team valuations are increasing, with recent sales setting records. Private equity firms like RedBird Capital Partners, Ares Management Corp., and Arctos Partners have shown interest in sports team investments. Blue Owl Capital (NYSE:OWL), owning Dyal Homecourt, could benefit from this rule change by potentially investing in NFL teams, similar to its NBA team investments.

Portfolio Pulse from Chris Katje

May 08, 2024 | 6:56 pm