Streetbeat News

Partnerships

HYMTF

Hyundai Motor Group's Executive Chair Euisun Chung visited India to discuss the company's mid- to long-term mobility strategies, aiming to solidify its position as a leading mobility provider. The group plans to increase Hyundai Motor India's annual production to one million units by 2025 and, combined with Kia India, reach a total annual production capacity of 1.5 million units. The visit also focused on expanding the electrification strategy to strengthen leadership in the Indian EV market, including increasing local EV production and creating an EV ecosystem. A town hall meeting was held to share visions and strengthen trust with employees, attended by approximately 400 local employees in person and over 3,000 via video.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:18 am

DOOO

BRP's subsidiary, Juniper Re, has entered into a multi-year collaboration with ICEYE to enhance flood and wildfire data analysis. This partnership aims to improve risk assessment and disaster response through ICEYE's satellite technology.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:46 am

NVDA

Nvidia Corp. CEO Jensen Huang personally delivered the first DGX H200 GPU to OpenAI, symbolizing the strong partnership between Nvidia and OpenAI. The donation of the H200 GPU, announced alongside the GB200 AI super chip in March, is aimed at advancing AI, computing, and humanity. The H200 GPU is a significant upgrade over its predecessor, offering 1.8 times the memory and 1.4 times the bandwidth, while the GB200 AI superchip is vastly faster than the DGX-1 supercomputer donated in 2016.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 6:32 am

ADBE

IBM

NOW

NVDA

IBM CEO Arvind Krishna announced during the Q1 2024 Earnings Call that the company's AI bookings have surpassed $1 billion, emphasizing the growing importance of AI in driving productivity and enhancing customer experiences. Key partnerships with NVIDIA, ServiceNow, and Adobe were highlighted as instrumental in accelerating clients' AI journeys and digital transformation. Despite a revenue miss, IBM's focus on AI and strategic partnerships are seen as vital for future growth. IBM shares dropped 8.47% after hours to $168.51.

Portfolio Pulse from kaustubh@benzinga.com

April 25, 2024 | 2:33 am

ABAT

CDE

GROY

STLD

American Battery Technology refines its Tonopah Flats Lithium Project, improving project economics. Steel Dynamics reports strong Q1 results with significant net sales and income. Gold Royalty Corp partners with Taurus Mining for co-investment in precious metals. Coeur Mining releases its 2023 ESG Report, highlighting environmental and social achievements.

Portfolio Pulse from austin@walkonholdings.com

April 24, 2024 | 10:17 pm

TM

Toyota has become the official vehicle provider for World Wide Technology Raceway, marking its first-ever automotive manufacturer partnership with the racing facility. This includes leading fields at the NASCAR race weekend and renewing their race entitlement for the NASCAR CRAFTSMAN Truck Series Toyota 200. The Toyota Camry XSE and Toyota Tundra TRD Pro will serve as pace and support vehicles for the NASCAR Cup Series and Truck Series races, respectively.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:34 pm

ARES

AmWest Funding Corp, Ares Management Corporation (NYSE:ARES), and Park Capital Management have finalized a joint venture to purchase and invest in Non-QM loans. Ares will provide 90% of the capital, with AmWest providing the remaining 10%. The venture aims to leverage AmWest's strong mortgage origination and servicing capabilities, alongside Ares' significant experience in asset-based credit investment, to capitalize on the current market environment and build large-scale Non-QM investment and securitization platforms.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:07 pm

CNMD

CONMED Corporation (NYSE:CNMD) has promoted Patrick Beyer to the role of Chief Operating Officer (COO), effective immediately. Beyer, previously President of International and Global Orthopedics at CONMED, will now oversee the company's commercial businesses, Operations, Distribution, Regulatory Affairs / Quality Assurance, and Customer Excellence. His promotion reflects his contributions to CONMED's growth and market expansion. Beyer's experience includes leadership roles at Stryker and as CEO of ICNet International, along with leading CONMED's acquisitions of In2Bones and BioRez.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:58 pm

CDTX

JNJ

Cidara Therapeutics reacquires global rights to CD388 from Johnson & Johnson for $85M and announces a $240M private placement financing led by RA Capital Management. The financing, with significant contributions from Bain Capital Life Sciences, BVF Partners, and Canaan Partners, will fund the Phase 2b trial of CD388, a universal preventative against influenza A and B. The reacquisition and financing are seen as transformational for Cidara, with CD388 positioned as a key asset in its pipeline.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:47 pm

CDTX

Cidara Therapeutics, Inc. (CDTX) has divested its antifungal drug, rezafungin, to Mundipharma, enabling an estimated $128 million in cost savings. This strategic move allows Cidara to concentrate on advancing its Cloudbreak DFC pipeline, including the development of its lead oncology candidate, CBO421. The divestiture includes transferring future royalties, milestones, and other assets related to rezafungin to Mundipharma, which already held commercial rights outside the U.S. and Japan. This decision follows Cidara's successful development and approval of rezafungin in the US, EU, and UK for life-threatening fungal infections.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:46 pm