Streetbeat News

Partnerships

BORR

Borr Drilling Limited (NYSE:BORR) shares fell over 5% due to a notice of temporary suspension of operations for its rig 'Arabia I' in Saudi Arabia for up to 12 months, starting in Q2. The company plans to seek alternative engagement for the rig during this period. Despite this setback, Borr Drilling has secured several new contracts in 2023, adding $728 million, with an implied rate of approximately $161,000 per day. Firm contracts and priced options already cover 87% of available capacity in 2024. Over the past year, BORR stock has lost over 23%.

Portfolio Pulse from Nabaparna Bhattacharya

April 04, 2024 | 3:40 pm

ETHUSD

XRPUSD

Ripple announced the launch of a U.S. dollar-pegged stablecoin on the XRP Ledger and Ethereum, aiming to compete with Tether and Circle in the $150 billion stablecoin market. The stablecoin is backed by U.S. dollar deposits, short-term U.S. government treasuries, and cash equivalents, with plans for third-party audits and monthly attestations for transparency. This move is seen as a strategic step for Ripple and is expected to enhance liquidity and opportunities for the XRP Ledger community.

Portfolio Pulse from Murtuza Merchant

April 04, 2024 | 2:54 pm

IBKR

Interactive Brokers Group Inc (NASDAQ:IBKR) has launched a new desktop trading application for Windows and Mac, aiming to redefine trading technology expectations. The platform, designed for serious investors, supports trading in multiple asset classes worldwide and offers features like various order types, options visualization, and technical analysis tools. The company emphasizes its competitive advantages in product breadth, cost, technology, and financial strength. Additionally, Interactive Brokers is expanding its offerings with retirement planning tools and an HTML-based client portal for advisors.

Portfolio Pulse from Renato Capelj

April 04, 2024 | 2:44 pm

CVX

Chevron Corp (NYSE:CVX) has invested $45 million in Series A financing in ION Clean Energy, a Boulder, Colorado-based technology company specializing in carbon capture technology. This investment aims to support the growth and commercial rollout of ION's ICE-31 liquid amine carbon capture technology, targeting hard-to-abate emissions. The collaboration is part of Chevron's strategy to expand its technology portfolio and address emissions from industries with high-volume but low-concentration CO2 emissions, marking a significant step towards a lower carbon future.

Portfolio Pulse from Akanksha Bakshi

April 04, 2024 | 2:36 pm

MQ

SQ

The Bear Cave released a report on Marqeta (MQ), criticizing its financial stability and its association with facilitating criminal payments through Cash App, owned by Block (SQ). Marqeta, a card issuing platform, is under scrutiny due to its major customer Block and banking partner Sutton Bank facing regulatory investigations. The report highlights Marqeta's role in processing payments for a child pornography site, emphasizing the use of Cash App for transactions. Marqeta's revenue heavily relies on Block, contributing 68% in 2023. Despite controversies, Marqeta's payment processing volume doubled from 2021 to 2023.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:32 pm

BURU

NUBURU, Inc. (NYSE:BURU) announced a $3 million investment from strategic investors and initial orders from new customers in new markets. The investment, led by fintech leader Alessandro Zamboni, aims to accelerate NUBURU's growth and revenue generation. The company received an order to supply BL-300s for EV battery module production, highlighting its expansion into the sustainable energy market. NUBURU plans to call a special stockholders meeting to approve additional common stock issuance for strategic acquisitions.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:22 pm

COIN

EWC

Coinbase has been registered as a Restricted Dealer in Canada, marking it as the first international and largest cryptocurrency exchange to achieve this status in the country. This follows its formal launch in Canada in August 2023 and is part of its commitment to regulatory compliance and operational excellence. Coinbase's registration is a result of collaboration with Canadian regulators, banks, investment advisors, and pension funds. A survey conducted by Coinbase found that 72% of Canadians view regulation of cryptocurrency exchanges as important, with 29% more inclined to buy cryptocurrency under more regulation. Coinbase's Canadian expansion includes partnerships, hiring local employees, and investments through Coinbase Ventures in Canadian tech companies.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:07 pm

CNFR

Conifer Holdings, Inc. (NASDAQ:CNFR) has initiated a capacity partnership with Accelerant to enhance its underwriting process through better risk assessment using Accelerant's Risk Exchange and analytics platform. This partnership aims to deliver tailored specialty insurance products to Conifer's niche commercial clients.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:06 pm

DTSS

Datasea Inc. (DTSS) has entered into a sales agreement with Shenzhen Xiaoranfang Marketing Co., Ltd. for the sale of up to approximately $8.45 million of its acoustic high tech products. This partnership aims to boost Datasea's product sales both domestically and internationally, including on U.S. platforms like Amazon. The agreement covers the sale of Datasea's 'Hailijia' and 'Star Dream' series, which include air disinfection machines and sleep aids. The partnership is expected to be a key driver of Datasea's future revenue growth.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:02 pm

DIS

Disney CEO Bob Iger announced that the company is actively seeking strategic partners for ESPN and has been engaged in ongoing discussions. This statement was reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 1:59 pm