Streetbeat News

Partnerships

SOUHY

TMQ

VMXXF

The Biden administration's plan to block the Ambler Road project in Alaska, which would have provided access to a mining district for copper and other minerals exploration, has drawn criticism from the mining industry, state officials, and some native groups. The decision is seen as a conflict between environmental protection and the need for domestic mineral sources for renewable energy. Companies like Trilogy Metals Inc. (TMQ) and South32 (SOUHY), part of the Ambler Metals joint venture, and Valhalla Metals Inc (VMXXF) are directly affected, expressing disappointment and considering legal options. The decision also highlights divisions among native tribes and concerns about economic development and environmental impacts.

Portfolio Pulse from Matt Whittaker

April 18, 2024 | 2:07 pm

BKNG

Stay, a hospitality company, has partnered with Booking.com to expand its global property portfolio. This collaboration aims to increase Stay's offerings and enhance its visibility on the Booking.com platform, potentially driving more bookings and revenue.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:06 pm

AAPL

RERE

The rise in smartphone recycling is attributed to a combination of factors including government initiatives, private sector participation, and economic conditions. President Xi Jinping's advocacy for a circular economy, the growth in used smartphone sales, and partnerships like that between ATRenew Inc. and Apple are key highlights. ATRenew's expansion into recycling various consumer goods and its commitment to ESG principles underscore the growing importance of sustainability in business practices.

Portfolio Pulse from The Bamboo Works

April 18, 2024 | 2:06 pm

STLA

VWAGY

XPEV

European passenger-car sales fell 2.8% in March, with BEV sales down 11.3%. Volkswagen and Stellantis NV reported significant drops in EV registrations, attributing the decline to reduced subsidies and high interest rates. Volkswagen's EV sales in Europe fell 24.3%, while Stellantis experienced a 12.6% decrease in registrations. Both companies anticipate a challenging 2024, with Volkswagen partnering with XPeng Inc to boost EV sales. The trend suggests European automakers need a new strategy to compete, especially against Chinese firms expanding in Europe.

Portfolio Pulse from Upwallstreet

April 18, 2024 | 1:52 pm

ETN

FTI

MARA

SMR

VRT

XOM

Jim Cramer recommends buying Ethereum or Bitcoin over Marathon Digital Holdings, citing a preference for cryptocurrency. He also commented on Exxon Mobil's 'parabolic move' and suggested buying Vertiv or Eaton for investments related to data centers. Additionally, NuScale Power's Q4 sales missed estimates, and Exxon Mobil awarded a contract to TechnipFMC for the Whiptail project in Guyana.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:25 pm

CACO

Caravelle International Group (NASDAQ:CACO) has signed a manganese ore purchase agreement with CUEX Metal AG, expected to generate $400M-$500M annually for Caravelle. The partnership, involving the supply of 4.5 million tons of manganese ore over three years, aims to advance both companies' positions in the global steel and wood drying industries. The innovative business model includes transporting manganese ore and drying wood on the same carrier, optimizing resource allocation and promoting environmental sustainability.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:20 pm

TBIO

Telesis Bio Inc. (NASDAQ:TBIO) announced a strategic shift to focus on its Gibson SOLA enzymatic DNA synthesis platform and BioXp mRNA solutions, aiming to accelerate drug discovery. The company also reported a CEO change, with Eric Esser taking over from Todd R. Nelson. Telesis Bio has entered into a co-development and marketing agreement with a leading automation provider and expanded its commercial channel through a distribution agreement with Avantor. The company has achieved cost savings by restructuring operations, reducing operating expenses, and extending its cash runway.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:17 pm

UNFI

United Natural Foods, Inc. (UNFI) has implemented Samsara's vehicle telematics, asset gateways, environmental monitors, and video-based safety solutions to enhance its operational efficiency and safety measures. This adoption signifies UNFI's commitment to leveraging technology for better fleet management and environmental monitoring.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:14 pm

ZTS

Scout Clean Energy has signed a 12-year Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt portion of the Heart of Texas Wind Farm. This agreement supports Zoetis' goal to achieve carbon neutrality by 2030 by securing renewable energy and generating Renewable Energy Certificates (RECs). The Heart of Texas Wind Farm, owned and operated by Scout, a Brookfield Asset Management portfolio company, contributes significantly to the local economy and the renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:12 pm

POCI

Precision Optics Corporation, Inc. (NASDAQ:POCI) announced receiving a $720,000 follow-on production order from a top tier defense/aerospace customer for a new optical application, bringing total orders to over $1.9 million. The company anticipates strong sequential revenue growth and continued order volumes into the next fiscal year, highlighting its expansion in the defense and aerospace market.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:11 pm