Streetbeat News

Partnerships

PEP

PepsiCo Inc. (NASDAQ:PEP) has won a 10-year deal to become the exclusive beverage supplier for Subway restaurants across the U.S. starting January 1, 2025. This agreement includes a wide range of PepsiCo's beverages, such as Pepsi, MTN DEW, and Gatorade, and marks a significant shift as it replaces The Coca-Cola Company (NYSE:KO) as Subway's primary drink provider. The transition will see Coca-Cola products phased out from Subway locations beginning January 2025. This deal also strengthens PepsiCo's existing relationship with Subway, including snack provision through its Frito-Lay division until 2030.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 3:35 pm

FSR

Fisker Inc (NYSE:FSR) shares dropped 9.5% to $0.13 after announcing a financing commitment of up to $150 million and plans to halt production for six weeks to balance inventory. The company is also in talks with a major automaker for potential collaboration on EV platforms and manufacturing in the US. Fisker delivered approximately 1,300 vehicles globally in 2024 and has around 4,700 vehicles in inventory.

Portfolio Pulse from Henry Khederian

March 19, 2024 | 3:33 pm

KMB

MCD

McDonald's Corporation announced the retirement of Enrique 'Rick' Hernandez, Jr. from the Board of Directors, with Chris Kempczinski assuming the combined role of CEO and Chairman. Miles White will become Lead Independent Director. Mike Hsu, CEO of Kimberly-Clark, is nominated to the Board, bringing over 30 years of consumer products experience. The changes reflect McDonald's commitment to adapt to the evolving business and social landscape, aiming to continue its strong performance and growth.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 3:16 pm

EADSY

UAL

Boeing Company (NYSE:BA) faces multiple crises, affecting the aerospace industry's reputation, as noted by Airbus SE's CEO, Guillaume Faury. Faury expressed concern at the 'Europe 2024' conference, highlighting Boeing's technical issues. Meanwhile, United Airlines Holdings, Inc. (NASDAQ:UAL) is reportedly close to a deal for 36 Airbus A321neo jets, indicating a shift from Boeing 737 Max 10 orders to Airbus, benefiting the latter. BA shares rose by 0.50%, while EADSY increased by 1.71%.

Portfolio Pulse from Akanksha Bakshi

March 19, 2024 | 3:10 pm

EWJ

EWJV

FLJP

MUFG

SWJ

The Bank of Japan's decision to introduce positive interest rates is expected to significantly boost profits for Japanese banks like Mitsubishi UFJ Financial Group Inc. (MUFG). With a combined reserve of $712 billion at the BoJ, these banks could see a substantial increase in interest earnings. Goldman Sachs has issued Buy ratings for MUFG and other Japanese banks, predicting a 30% surge in net interest margins. US investors can gain exposure to these stocks through ETFs like EWJ, EWJV, FLJP, and SWJ. Warren Buffett's earlier investments in Japanese equities have also paid off, with returns ranging from 117% to 276% since July 2019.

Portfolio Pulse from Piero Cingari

March 19, 2024 | 3:10 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) is restructuring its leadership to support global expansion, aiming for 55,000 stores worldwide. Michael Conway is appointed as CEO, North America, and Brady Brewer as CEO, Starbucks International. The company plans to open three-quarters of new stores outside the U.S. and is also introducing new executive roles to enhance its global and product strategy.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 2:54 pm

AAPL

PFE

QCOM

Top executives from major companies including Apple, Qualcomm, Pfizer, and Blackstone, along with Bridgewater Associates' Ray Dalio, will attend the China Development Forum in Beijing, highlighting the importance of China in global business strategies.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 2:19 pm

COSM

Cosmos Health Inc. (NASDAQ:COSM) is nearing regulatory approval in the UK for its C-Scrub disinfectant hand soap and has received its first purchase order. The approval from the UK's Health Security Agency will enable distribution across the UK, with plans to supply the National Health Service. C-Scrub is a biocide disinfectant formulated with 4% chlorhexidine gluconate, offering up to 6 hours of antimicrobial action. Cosmos Health is also exploring opportunities in non-EU markets, targeting the global hospital disinfectant market projected to reach $75.6 billion by 2033.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 2:13 pm

CHKP

NVDA

Check Point Software Technologies Ltd. (CHKP) and NVIDIA (NVDA) have announced a collaboration to enhance the security of AI cloud infrastructure. The partnership involves integrating NVIDIA's BlueField DPUs into Check Point's new AI Cloud Protect solution, aimed at preventing threats at both network and host levels. This solution is designed to protect sensitive and private AI workloads against cyber threats, addressing the increasing sophistication of attacks targeting AI, such as backdooring AI models and data exfiltration. The AI Cloud Protect, powered by NVIDIA BlueField 3 DPU and DOCA software, offers robust defense against AI-specific threats, scalable integration, and optimized performance without compromising AI operations.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 2:10 pm

FUSN

NCMI

SPIR

ZCAR

National CineMedia, Inc. (NCMI) reported strong Q4 results and announced a $100 million share repurchase program, leading to a 25.5% stock increase. Other stocks like Fusion Pharmaceuticals (FUSN), Spire Global (SPIR), and Zoomcar Holdings (ZCAR) also saw significant gains due to various positive developments. Notably, Fusion Pharmaceuticals is being acquired by AstraZeneca, and Spire Global announced a collaboration with NVIDIA.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 2:03 pm