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Partnerships

BA

SPR

Boeing Co reported a decline in Q1 fiscal 2024 revenue by 8% year-over-year to $16.569 billion, surpassing consensus estimates. The decrease was attributed to lower commercial deliveries and considerations for the grounding of the 737-9. Adjusted loss per share improved to $(1.13) from $(1.27) year-over-year, beating consensus estimates of $(1.76). The company emphasized a commitment to enhancing quality and safety, with a reduction in 737 production to improve quality management. Defense, Space & Security and Global Services segments saw revenue increases. Boeing also made a $425 million advance payment to Spirit Aerosystems Holdings, Inc. (SPR) amid FAA restrictions. Boeing's shares rose 4.01% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 1:22 pm

BIG

Gordon Brothers has provided Big Lots Inc. with a $200 million delayed draw term loan to support strategic initiatives and enhance working capital flexibility. This partnership aims to assist Big Lots in its turnaround strategy by offering financial flexibility and enabling the execution of short- and long-term strategies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:21 pm

NCNC

noco-noco Inc. (NASDAQ:NCNC) has signed a Memorandum of Understanding with Binex Inc. Tokyo to develop agriculture-based carbon credits, leveraging sorghum cultivation for biofuel production and soil carbon sequestration. This collaboration aims to support climate action initiatives and aligns with United Nations ESG goals. noco-noco's involvement extends beyond its X-SEPA technology for lithium-ion batteries, indicating a diversification into sustainable agriculture practices.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:20 pm

TSLA

Huawei, a Chinese tech giant and competitor to Apple Inc, has launched a new software brand for intelligent driving named 'Qiankun.' This software aims to revolutionize the electric vehicle (EV) industry by providing self-driving systems. Huawei's Intelligent Automotive Solution (IAS) business unit CEO, Jin Yuzhi, announced the software ahead of the Beijing auto show, with plans for mass commercialization by 2024. Huawei also plans to install 100,000 EV charging stations in China by 2024, directly competing with Tesla. Despite potential U.S. sanctions on Chinese semiconductor firms associated with Huawei, the company has begun mass deliveries of the Luxeed S7 electric sedan in collaboration with Chery Auto. Tesla, on the other hand, is preparing to launch its Full Self-Driving feature in China and has recently reduced the price of its FSD package.

Portfolio Pulse from Benzinga Neuro

April 24, 2024 | 1:19 pm

ADSK

Autodesk, Inc. (NASDAQ:ADSK) and the Nemetschek Group have entered into an interoperability agreement to enhance collaboration and efficiency in the architecture, engineering, construction, operations (AECO), and media and entertainment (M&E) industries. This agreement aims to improve the exchange of information across the companies' cloud and desktop products, leveraging Autodesk Platform Services (APS) for better project outcomes. The partnership emphasizes openBIM standards and will provide mutual access to APIs and industry clouds, facilitating improved data exchanges and new data-centric workflows across various software solutions.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:18 pm

ETWO

E2open has successfully achieved interoperability certification on the Catena-X network, marking a significant milestone for the company in enhancing its capabilities in the automotive supply chain network.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:18 pm

UBER

Klarna, a Swedish fintech company, has announced a significant global partnership with Uber, integrating its payment options into the Uber and Uber Eats apps in the U.S., Germany, and Sweden. This collaboration, one of Klarna's most notable merchant agreements, comes as Klarna prepares for a potential IPO, rumored to value the company at over $20 billion. The deal allows users to pay instantly or bundle purchases into a single payment, excluding Klarna's popular installment plans. Klarna's move to secure big pre-IPO merchant wins follows a challenging period where it saw a significant valuation drop, but it has recently reported a quarterly profit for the first time in four years.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:14 pm

DASH

WBA

DoorDash (NASDAQ:DASH) and Walgreens (NASDAQ:WBA) announced a collaboration to offer SNAP/EBT payment options at nearly 7,800 Walgreens stores nationwide, making DoorDash the first platform to enable such transactions. This partnership aims to expand food access to over 40 million people in communities with significant SNAP/EBT reliance. DoorDash users can now order over 4,000 SNAP-eligible products from Walgreens for delivery, with DashPass members enjoying additional savings. This initiative marks a significant expansion of DoorDash's offerings to SNAP/EBT recipients, furthering its commitment to increasing food accessibility.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:08 pm

MAMO

Massimo Group has expanded its partnership with a global omnichannel retailer to include the Mini Tractor and Mini 125 Go Kart in its youth series vehicles lineup. These products will now be available for sale in over 1,300 stores across 13 states in the U.S. This expansion is likely to increase the visibility and sales of Massimo's youth series vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:06 pm

BOF

BranchOut Food (BOF) shares surged following the announcement of an expanded partnership with the nation's largest retailer, increasing the annualized value of commitments to over $8 million.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:04 pm