Streetbeat News

Partnerships

ENB

The Biden administration has urged a U.S. appeals court to reconsider an order for Enbridge Inc. (NYSE:ENB) to drain parts of its Line 5 pipeline, which runs through Native American tribal land in Wisconsin. This request is based on a 1977 U.S.-Canada treaty to keep oil flowing. The U.S. DOJ believes the lower court's decision to stop portions of the pipeline by 2026 should be rethought, despite acknowledging Enbridge's trespassing on tribal land. The pipeline, crucial for transporting Canadian oil to Ontario, is at the center of a legal dispute initiated by the Bad River Band of Lake Superior Chippewa in 2019. Enbridge has offered $80 million to settle, and a U.S. District Judge ordered the company to pay nearly $5.2 million for trespassing, a sum the DOJ deems too low.

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 12:49 pm

QTI

QT Imaging's Breast Acoustic CT Scanner will now be available at the Center For New Medicine, enhancing personalized prevention and breast cancer detection efforts.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:43 pm

BLNK

Keystone Purchasing Network has chosen Blink Charging (BLNK) for EV charging services, starting March 1, 2024, with potential extensions for three more years. Blink has installed approximately 2,000 charging stations.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:35 pm

ELYM

RENT

RLYB

Rallybio collaborates with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT, causing RLYB shares to surge by 104%. Rent the Runway's mixed Q4 results and future guidance boost RENT shares by 77%. Eliem Therapeutics announces acquisition of Tenet and a $120 million private placement, leading to a 65% increase in ELYM shares.

Portfolio Pulse from ryanfaloona@benzinga.com

April 11, 2024 | 12:31 pm

MCHP

Microchip Technology Inc. (NASDAQ:MCHP) has completed the acquisition of VSI Co. Ltd., a Seoul, Korea-based pioneer in automotive networking technologies, to enhance its leadership in the automotive networking market. The acquisition aims to address the growing demand for Advanced Driver Assistance Systems (ADAS) and digital cockpit connectivity, leveraging the Automotive SerDes Alliance (ASA) open standard. The automotive radar, camera, and LiDAR modules market is expected to double in revenue by 2028, driven by the adoption of ADAS and next-generation software-defined vehicles (SDV). VSI's expertise in ASA Motion Link technologies will complement Microchip's automotive networking portfolio, supporting the industry's shift towards Ethernet, PCIe, and ASA Motion Link standards.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:09 pm

FCEL

FuelCell Energy, Inc. (NASDAQ:FCEL) will use its carbonate fuel cell technology in a Sacramento Sewer biogeneration project developed by Ameresco to convert biofuel into clean electricity. The project will utilize a 2.8-Megawatt fuel cell platform capable of producing power and heat from biogas, with potential for renewable green hydrogen production. FuelCell Energy will also provide comprehensive maintenance services for the system. This initiative supports community facilities in producing efficient, clean electricity, reducing greenhouse gas emissions, and helping local governments meet sustainability goals.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:08 pm

HRMY

Harmony Biosciences (HRMY) has entered into an exclusive licensing agreement with Bioprojet to develop and commercialize TPM-1116, a promising oral orexin-2 receptor agonist for treating narcolepsy and other sleep/wake disorders. Harmony will pay Bioprojet $25.5 million upfront, with potential future payments totaling up to $367.5 million based on development, regulatory, and sales milestones, plus mid-teen royalties on sales. This agreement aims to bolster Harmony's position in the sleep/wake disorder market by leveraging the potential of TPM-1116 to offer a best-in-class clinical profile.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:07 pm

NVEE

NV5 has been awarded contracts totaling $13 million for the expansion of data center assets for technology and financial companies in Asia and the US. This development indicates NV5's growing influence in the tech and financial sectors' infrastructure projects.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:06 pm

RVSN

Rail Vision shares surged following the announcement of an initial purchase order worth about $1 million, part of a larger contract potentially worth up to $5 million with a U.S.-based rail and leasing services company.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:58 am

RAMP

Cross Screen Media has announced a strategic partnership with LiveRamp (NYSE:RAMP) to enhance video ad targeting and measurement for local agencies. This collaboration aims to improve Cross Screen Media's capabilities and prepare for a cookieless future by utilizing LiveRamp's identity resolution and transcoding app, Powered by Snowflake, ensuring compliance with privacy measures.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:47 am