Streetbeat News

Partnerships

WBD

Warner Bros Discovery CEO David Zaslav announced at the Milken Conference that the company is in 'constructive negotiations' with the NBA. This statement indicates ongoing discussions that could potentially impact the company's future content offerings and partnerships.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:28 pm

CLLS

Cellectis shares are trading higher following the announcement of the completion of an additional equity investment by AstraZeneca.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:34 pm

INTC

MU

The Biden administration's $280 billion CHIPS and Science Act aims to advance semiconductor technology by focusing on digital twins and establishing the CHIPS Manufacturing USA institute. This initiative will foster collaboration and resource-sharing among companies like Intel and Micron, which are among the beneficiaries of the act. The act supports the development of physical semiconductors and their virtual representations, enhancing innovation and training for the American workforce in this sector.

Portfolio Pulse from Franca Quarneti

May 06, 2024 | 5:46 pm

AMD

INTC

MU

NVDA

The Biden-Harris Administration announced a $285M funding opportunity for a CHIPS Manufacturing USA institute to develop digital twins technology for the semiconductor industry. This initiative, part of the 2022 Chips and Science Act, aims to advance U.S. chip technology and reduce dependence on international supply chains. Leading chipmakers like Nvidia, AMD, Intel, and Micron are involved, with Intel in talks for over $10B in subsidies and Micron signing a PMT for $6.1B in funding.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 5:41 pm

PEP

TSLA

WMT

A Tesla Semi with Walmart branding was spotted at a Walmart location, indicating a possible delivery of the electric truck to one of the world's largest retailers. Walmart has ordered hundreds of Tesla Semi units, though the exact number of deliveries remains unknown. Tesla has also delivered units to PepsiCo, highlighting the growing interest in Tesla's electric trucks. The sighting was well-received on social media, suggesting potential for increased production and feedback from major customers like Walmart. Tesla aims for high-volume production of the Semi, with deliveries expected to ramp up by late 2025 into 2026, supported by the expansion of Gigafactory Nevada.

Portfolio Pulse from Chris Katje

May 06, 2024 | 5:21 pm

GOSS

Gossamer Bio Inc (NASDAQ:GOSS) has partnered with Italy's Chiesi Farmaceutici to develop and commercialize seralutinib for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The collaboration aims to advance lung health solutions globally, with both companies sharing development costs and commercial profits in the U.S. Chiesi will lead commercialization outside the U.S. and pay Gossamer up to $486 million in development, regulatory, and sales milestones.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 5:17 pm

NSC

Key regulators, including the U.S. Department of Transportation (DOT) and the Surface Transportation Board (STB), have expressed support for Norfolk Southern Corporation's (NYSE: NSC) leadership and strategy, emphasizing the company's focus on safety and service. They have raised concerns about Ancora's plan for NSC, warning it could jeopardize safety and service. The DOT and STB's statements highlight Norfolk Southern's progress in safety and service improvements, while criticizing Ancora's approach and potential impact on the railroad's performance and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:05 pm

MULN

Mullen Automotive, Inc (NASDAQ:MULN) shares surged after announcing a deal with National Auto Fleet Group to sell electric vehicles nationwide, including two all-electric commercial vehicles. The partnership aims to serve national fleet customers and offer Mullen's EVs to public fleets across the U.S. Additionally, Mullen adopted a stockholder rights plan to prevent significant ownership changes without board approval, effective until May 1, 2025.

Portfolio Pulse from Dylan Berman

May 06, 2024 | 5:03 pm

RKT

Rocket Cos. has appointed Shawn Malhotra, a former Thomson Reuters executive, as its new Chief Technology Officer (CTO) to lead its companywide artificial intelligence (AI) efforts. This strategic move aims to unify and accelerate Rocket's AI initiatives across its portfolio, including Rocket Mortgage, Rocket Homes, and Rocket Money. Malhotra's role will focus on data science, product engineering, technology operations, and information security, with a primary emphasis on AI to enhance the home-buying experience. The appointment follows the departure of Rocket Mortgage's CIO, Brian Woodring, and is part of Rocket's broader strategy to integrate technology into its core operations.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:03 pm

CVLC

JPM

MS

PAPI

Crystal Zhu has moved from JPMorgan Chase & Co (JPM) to Morgan Stanley (MS) as co-head of the Asia Pacific technology team, focusing on tech sector M&As and IPOs. This follows high-level exits at Morgan Stanley and comes amid efforts to boost its APAC presence and expand into Bitcoin ETFs. Morgan Stanley recently outperformed analyst revenue and EPS estimates for Q1 2024.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 5:01 pm