Streetbeat News

Partnerships

EZGO

JPM

MOTS

PXMD

JPMorgan Chase & Co. shares fell by 5.1% despite beating first-quarter earnings and revenue expectations, with other stocks experiencing significant movements in Friday's mid-day session. Notable gainers include PaxMedica, EZGO Technologies, and Allarity Therapeutics, among others, with various reasons for their stock movements. Conversely, several companies faced declines, such as Motus GI Holdings, Lixiang Education, and Monogram Orthopaedics, each with specific challenges impacting their stock prices.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 6:47 pm

BLK

JPM

The article discusses the significant role of crypto-native institutions in advancing the blockchain and cryptocurrency industry, highlighting their understanding and appreciation of decentralization from the industry's inception. It contrasts this with the gradual involvement of traditional financial giants like BlackRock (NYSE:BLK) and JPMorgan (NYSE:JPM), noting that while the entry of these institutions into the crypto space is important, the real driving force behind the industry's growth and innovation are the crypto-native entities. These institutions have been pivotal in major developments such as the rise of DeFi, Ethereum's migration to proof-of-stake, and the approval of Bitcoin ETFs.

Portfolio Pulse from Jupiter Zheng

April 12, 2024 | 4:58 pm

EZGO

EZGO Technologies Ltd (NASDAQ:EZGO) shares surged 44.83% to $2.26 after announcing a procurement agreement with Hangzhou Huiyu Zhichuang Industrial Co., Ltd, a subsidiary of Huiyu Holdings Group. Under the deal, EZGO will sell twelve security patrol robots and one intelligent patrol platform for $1.84 million, with delivery and installation within nine months. The robots feature advanced capabilities like self-navigation and live video streaming, intended for use in Huiyu Intelligent Innovation Park in Hangzhou, China.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 4:56 pm

AMZN

GOOG

IDGT

MRVL

MSFT

SPRX

Marvell Technology Inc (NASDAQ:MRVL) is poised for significant growth with its AI accelerators for Amazon, Google, and a potential deal with Microsoft, according to analysts. Needham analyst Quinn Bolton reiterated a Buy rating with a price target of $95, highlighting Marvell's growth opportunities in custom computing, cloud optics, and more. Marvell aims for AI revenue to exceed $2.5 billion by fiscal 2026 and targets a 20% share of the Data Center TAM, expected to exceed $75 billion by 2028. The company announced major deals with Amazon and Google and is developing an AI accelerator for a potential deal with Microsoft, which could be larger than the Amazon and Google engagements combined. Rosenblatt analyst Hans Mosesmann also maintained a Buy rating with a $100 price target, noting Marvell's competitive roadmap in switching and interconnect markets. Marvell stock gained 80% in the last 12 months and can be accessed through ETFs like IDGT and SPRX.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 4:23 pm

ADAP

Adaptimmune Therapeutics' stock trades lower following the announcement of the termination of its Strategic Collaboration and License Agreement with Genentech and F. Hoffman-La Roche Ltd.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:45 pm

ACN

DFNL

IETC

KBWB

VNSE

BNY Mellon (BK) and Accenture (ACN) are collaborating to modernize financial services, focusing on data management and analytics. This partnership aims to leverage technology for rapid growth and innovation in private markets and wealth management tech. ACN stock has gained 12% in the past year, while BK stock has gained over 20%. Investors can also gain exposure to these stocks through ETFs like IETC, VNSE, DFNL, and KBWB.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 3:40 pm

CEG

CMG

RBLX

RENT

RLYB

Benzinga's Stock Whisper Index highlights five stocks: Rent the Runway (RENT), Rallybio Corp (RLYB), Constellation Energy Corp (CEG), Roblox Corp (RBLX), and Chipotle Mexican Grill (CMG). RENT's stock soared with positive Q4 results and guidance. RLYB shares jumped after a development agreement with Johnson & Johnson (JNJ). CEG's stock is up 148% over the past year, with strong Q4 results. RBLX is gaining interest ahead of Q1 results, partly due to a new advertising strategy with PubMatic Inc (PUBM). CMG's stock is near all-time highs, with a proposed 50-for-1 stock split.

Portfolio Pulse from Chris Katje

April 12, 2024 | 3:26 pm

SRE

Mitsui & Co and Mitsubishi Corp are collaborating with U.S.-based Sempra Infrastructure to sell liquefied natural gas (LNG) that generates up to 90% less carbon dioxide. They are in discussions to sell this LNG to Japanese electricity and gas companies, aiming to start production around 2029 at a major LNG facility in Louisiana.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:14 pm

MSFT

Sam Altman, CEO of OpenAI, has been engaging with Fortune 500 executives to showcase OpenAI's AI services, including ChatGPT Enterprise, directly competing with Microsoft (NASDAQ:MSFT), their main investor. Meetings in major cities have attracted over 100 senior executives each, discussing applications in finance, healthcare, and energy. OpenAI emphasizes direct collaboration benefits over Microsoft's Azure platform services. OpenAI's valuation hit $86 billion, nearing a $1 billion revenue goal for 2024, with over 600,000 users for ChatGPT Enterprise and Team.

Portfolio Pulse from Michael Cohen

April 12, 2024 | 3:07 pm

DIS

DKNG

NKE

PARA

Tiger Woods is a key figure at the 88th Masters Tournament, with a chance to break records. DraftKings Inc (NASDAQ:DKNG) listed odds for Woods making the cut. Benzinga's poll showed 61% believe Woods will make the cut. Woods finished the first round tied for 35th. DraftKings adjusted Woods' odds for winning and finishing in top positions after his performance. Woods started a partnership with TaylorMade, moving away from Nike Inc (NYSE:NKE). ESPN (Walt Disney Co (NYSE:DIS)) and CBS (Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA)) hold the television rights for the tournament.

Portfolio Pulse from Chris Katje

April 12, 2024 | 2:12 pm