Streetbeat News

Partnerships

MGM

MGM Resorts International (NYSE:MGM) reported Q1 earnings of 74 cents per share, surpassing the analyst consensus of 56 cents. Quarterly sales were $4.383 billion, exceeding estimates of $4.236 billion and marking a 13.16% increase from the previous year. The growth was attributed to MGM China's performance and the lifting of COVID-19 restrictions in Macau. The company also highlighted a strategic growth plan and a successful partnership with Marriott, leading to a 1.94% after-hours stock price increase.

Portfolio Pulse from Erica Kollmann

May 01, 2024 | 8:41 pm

CHDN

CMCSA

COIN

Photo Finish LIVE, a virtual horse racing game, announced a SuperFecta Scratch-Off event for the 150th Kentucky Derby, offering a $100,000 prize. Tickets are minted on the Base Network, supported by Coinbase Global. The event, in partnership with Churchill Downs, aims to attract new fans to horse racing, leveraging web3 technology. Over 26,000 of the 116,280 tickets have been claimed. NBC and Peacock, owned by Comcast Corporation, will broadcast the race.

Portfolio Pulse from Chris Katje

May 01, 2024 | 8:38 pm

VICI

VICI Properties announced it will provide $700 million in capital to the Venetian Resort Las Vegas through its Partner Property Growth Fund. This investment aims to support the expansion and enhancement of the resort's facilities, ensuring its continued competitiveness and appeal in the hospitality and gaming industry.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:16 pm

BODY

The Beachbody Company has partnered with telehealth provider Dr. B to allow pre-tax reimbursements for BODi fitness solutions across all 50 states, as exclusively reported by Benzinga Co.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:15 pm

DIS

DKNG

FWONA

FWONK

NFLX

RACE

Formula 1, owned by Liberty Formula One (FWONA, FWONK), halted a Trump fundraiser at the Miami Grand Prix, citing a violation of their suite license agreement. The event's cancellation and the connection to Miami Dolphins owner Stephen Ross, who also owns the Grand Prix, spotlight the race's significance. Ferrari (RACE) unveiled a special car design for the event, celebrating its 70th anniversary in North America. The race, airing on ABC and ESPN+ owned by Disney (DIS), is expected to draw significant viewership. DraftKings (DKNG) lists Max Verstappen as the favorite to win. The growth of Formula 1 in the U.S., partly attributed to Netflix (NFLX), enhances the value of related assets.

Portfolio Pulse from Chris Katje

May 01, 2024 | 7:04 pm

BWEB

IAS

METV

RBLX

Roblox Corporation (NYSE:RBLX) shares are up after announcing a partnership with Integral Ad Science Holding Corp (NASDAQ:IAS) to expand access to immersive video ads for all advertisers. This move opens monetization opportunities for Roblox creators, with ads being served to users aged 13 and up. Roblox plans to introduce a brand Lift Solution with Kantar Context Lab and aims for full integrations with multiple brand lift partners. Investors can also gain exposure to RBLX through Bitwise Web3 ETF (BWEB) and Roundhill Ball Metaverse ETF (NYSE:METV).

Portfolio Pulse from Nabaparna Bhattacharya

May 01, 2024 | 5:57 pm

MSFT

NTDOY

SONY

South Korea's Ministry of Culture, Sports, and Tourism has announced a five-year plan to expand its console gaming market by 2028, aiming to reduce its reliance on mobile and online gaming. The plan includes supporting local developers in partnerships with major console manufacturers like Microsoft, Sony, and Nintendo to boost South Korea's global console market share from 1.5% to closer to the global average of 28%.

Portfolio Pulse from Franca Quarneti

May 01, 2024 | 5:50 pm

ROKU

TTD

Roku, Inc. (NASDAQ:ROKU) shares rose after announcing new video experiences, ad solutions, and content partnerships at its IAB NewFront presentation. The company highlighted its advertising business innovation, reaching nearly 120 million people daily. New content on The Roku Channel includes series produced by Bryan Cranston and starring Ty Burrell, among others. Roku also announced a data-driven TV streaming partnership with The Trade Desk, Inc. (NASDAQ:TTD) and an expanded measurement partnership with iSpot.tv, aiming to enhance advertiser capabilities on TV streaming.

Portfolio Pulse from Nabaparna Bhattacharya

May 01, 2024 | 5:06 pm

ACSI

PTON

VTI

Hyatt Hotels Corporation (NYSE:H) and Peloton Interactive Inc (NASDAQ:PTON) have partnered to integrate Peloton's fitness equipment and classes into Hyatt's global properties, enhancing the World of Hyatt loyalty program. This collaboration will feature Peloton Bikes and, in select U.S. locations, the Peloton Row at over 800 Hyatt properties worldwide. The partnership aims to cater to the growing traveler interest in health and wellness amenities. The announcement comes ahead of Peloton's Q3 earnings release, which is expected to show a 4% revenue decline. Peloton's CEO Barry McCarthy is focusing on expanding market presence through partnerships, similar to a previous deal with Hilton. Hyatt's stock has seen a 28% increase over the past 12 months, and its performance can impact investors in ACSI and VTI ETFs.

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 4:47 pm

AMZN

GOOGL

PINS

Pinterest Inc (PINS) shares surged after reporting Q1 results surpassing expectations, driven by strong earnings, user growth, and successful ad monetization strategies. Analysts from Goldman Sachs, Roth MKM, Wedbush, Piper Sandler, and JPMorgan have raised their price targets, citing the company's product initiatives, partnerships with Amazon (AMZN) and Alphabet (GOOGL, GOOG), and improved advertising capabilities as key growth drivers. The partnerships are expected to significantly contribute to revenue momentum through 2024.

Portfolio Pulse from Priya Nigam

May 01, 2024 | 4:18 pm