Streetbeat News

Partnerships

AMAL

Amalgamated Financial Corp. (NASDAQ:AMAL) has completed three community solar projects in Oregon and expects to complete three more by Q3 2024. The projects, financed by a $25 million construction term facility to SolRiver Capital, aim to commence commercial operations soon. This initiative is part of Amalgamated's commitment to sustainable lending and the Oregon Community Solar Program, which offers energy at fixed prices to subscribers, including low to moderate income households.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:34 pm

HRTG

Heritage Insurance Holdings, Inc. (HRTG) has successfully placed its 2024-2025 catastrophe excess-of-loss reinsurance program, with a total consolidated cost of approximately $422.3 million. This program is designed to provide coverage for Heritage's insurance subsidiaries and includes a mix of traditional reinsurance and catastrophe bonds issued by Citrus Re. The program replaces the Florida Reinsurance to Assist Policyholders (RAP) program and includes specific exhaustion points for different regions. The company has also maintained participation in the Florida Hurricane Catastrophe Fund at 90%.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:32 pm

BLND

Blend Labs shares surged following the announcement of a strategic partnership with Haveli Investments, which includes a significant $150 million investment into the company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:32 pm

BLND

Blend Labs, Inc. (NYSE:BLND) has announced a strategic partnership with Haveli Investments, including a $150 million investment in convertible preferred stock with a 0% coupon. Blend will use approximately $145 million to repay its existing credit agreement, enhancing its financial position for long-term growth. Brian Sheth, Haveli's Chief Investment Officer, will join Blend's Board of Directors, signaling confidence in Blend's growth strategy and its role in transforming financial services.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:29 pm

ST

Sensata Technologies announced CEO Jeff Cote's retirement and the appointment of Martha Sullivan as Interim President and CEO. The company also entered into cooperation and information sharing agreements with Elliott and formed a CEO Search Committee to find a permanent CEO. Phillip Eyler was appointed to the Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:22 pm

LIVE

LL

LL Flooring has reached a cooperation agreement with Live Ventures and Isaac Capital Group regarding director nominations for its upcoming Annual Meeting of Stockholders. Isaac Capital Group, holding 3.8% of LL Flooring's common stock, withdrew its three director nominations in favor of the company's choices. LL Flooring also received additional nominations from other shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:19 pm

DB

PHG

TSLA

Philips closed higher after announcing a settlement, Deutsche Bank's stock fell following an update on Postbank litigation, and Tesla's stock rose on news of a partnership with Baidu for Full Self-Driving (FSD) technology.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:12 pm

PARA

Paramount Global announces leadership changes with Bob Bakish stepping down. George Cheeks, Chris McCarthy, and Brian Robbins appointed to lead as Office of the CEO. The new leadership aims to accelerate growth, streamline operations, and optimize streaming strategy. Paramount Global's Board expresses confidence in the new leaders' ability to enhance company performance and value creation.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:01 pm

TSLA

UBER

BofA analyst Justin Post reiterated a Buy rating on Uber Technologies, Inc (NYSE:UBER) with a price target of $91, citing strong bookings and EBITDA growth. Post expects Uber's core bookings to accelerate and new verticals like Hailables and Grocery to drive growth. Despite potential competition from Tesla's robotaxi plans, Post sees a possible future partnership between Uber and Tesla. He remains constructive on Uber as a top travel and transportation stock.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 6:58 pm

ADXN

ANVS

CAUD

CLVR

DCPH

ON

PHG

U.S. stocks saw modest gains with the S&P 500, Nasdaq, and Dow all trading higher. ON Semiconductor reported better-than-expected Q1 results but projected Q2 revenues below consensus. Deciphera Pharmaceuticals surged after an acquisition announcement by ONO Pharmaceutical. Collective Audience and Koninklijke Philips also saw significant gains, while Clever Leaves, Addex Therapeutics, and Annovis Bio experienced sharp declines.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 6:34 pm