Streetbeat News

Partnerships

GCTS

GCT Semiconductor Holding's shares surged following the announcement of a Memorandum of Understanding (MOU) with Aramco. The MOU outlines a collaboration to design and co-develop chipsets and modules for LTE, 5G, and the NTN spectrum, signaling a significant partnership in the telecommunications and technology sectors.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:29 pm

GCTS

GCT Semiconductor shares surged following the announcement of a Memorandum of Understanding (MOU) with Aramco to expedite the development of the 4G and 5G ecosystem in Saudi Arabia. This strategic partnership aims to enhance connectivity and technological advancements in the region.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:28 pm

AAPL

HNHPF

Foxconn, a major supplier for Apple, reported a 9% decline in its first-quarter revenue for 2024, totaling $41.2 billion. Despite the drop, Foxconn anticipates revenue growth in the second quarter. Apple, facing its first revenue and EPS decline in a decade due to falling iPhone sales, plans to launch more affordable AirPods to potentially boost sales and Foxconn's production.

Portfolio Pulse from Benzinga Neuro

April 05, 2024 | 12:11 pm

TARA

Protara Therapeutics, Inc. (NASDAQ:TARA) announced an oversubscribed $45M private placement financing to fund its operations into 2026. The financing includes the sale of common stock and pre-funded warrants, with RA Capital Management and Acorn Bioventures leading the offering. The transaction, involving institutional accredited investors, is expected to close on April 10, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:05 pm

BKR

Baker Hughes (NASDAQ:BKR) has been awarded an order by Black & Veatch to supply Cedar LNG in Canada with electric-driven liquefaction technologies, including refrigeration compressors, boil-off gas compressors, and centrifugal pumps. This project, powered by renewable electricity, aims to make Cedar LNG one of the lowest carbon intensity LNG facilities globally. It represents a significant step in the Haisla Nation's economic and social development and is part of global decarbonization efforts. This order highlights Baker Hughes' strength in the LNG market and its commitment to providing lower carbon solutions.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:04 pm

WDS

Woodside Energy Group Ltd (NYSE:WDS) has partnered with Yara Pilbara Fertilisers Pty Ltd to explore carbon capture and storage (CCS) for decarbonizing Yara's operations in Western Australia. The non-binding MOU aims to assess the feasibility of a large-scale, multi-user CCS hub near Karratha, which could serve various industries and support the development of lower-carbon industries like hydrogen, ammonia, and green steel production. This initiative aligns with global emissions reduction targets and could enhance the competitiveness of local industries. Additionally, Woodside recently sold a 15.1% stake in Scarborough JV for $1.4 billion, solidifying its role as an operator. WDS shares saw a slight increase of 0.25% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 05, 2024 | 11:44 am

HTZ

Hertz Global Holdings' ambitious plan to revolutionize the car rental industry with a 100,000 Tesla EV fleet faced significant setbacks due to high repair costs, frequent accidents, and customer charging anxiety. The company's strategy, which also included a nationwide charging network and partnerships with Uber, was undermined by Tesla price cuts, leading to a devaluation of Hertz's EV fleet. Operational challenges and leadership disagreements further complicated the situation, prompting Hertz to shift focus back to gas-powered vehicles and seek new leadership with operational expertise.

Portfolio Pulse from Ramakrishnan M

April 05, 2024 | 11:24 am

AAPL

DIS

Bob Iger, CEO of The Walt Disney Co. (NYSE:DIS), once believed that a merger between Disney and Apple Inc. (NASDAQ:AAPL) would have been likely if Steve Jobs had not passed away. In his 2019 book, Iger expressed that Jobs's death prevented discussions about merging the two companies, despite their later competitive positions with the launch of Disney+ and Apple TV+. Iger's relationship with Jobs, including Disney's acquisition of Pixar, is highlighted as a foundation for this belief. Despite the speculation, Iger clarified he never discussed the merger idea with Jobs. The article also touches on Disney's recent proxy battle with Nelson Peltz, indicating Disney's leadership is confident in its current strategy without seeking major changes like a merger with Apple.

Portfolio Pulse from Rounak Jain

April 05, 2024 | 10:49 am

HUT

Hut 8 Corp. (HUT) announced strategic site closures and progress on new site energization, alongside an operations update for March 2024. The company closed its Drumheller site, relocating efficient miners to Medicine Hat and retiring inefficient ones. Significant progress was made on the Salt Creek site, expected to be energized in April. Hut 8 also transitioned site-level operating responsibilities at Kearney and Granbury to a new owner, with a termination fee expected by end of April. The company holds 9,102 Bitcoin, positioning it for growth ahead of the cryptocurrency halving.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 10:32 am

PEP

SMX

SMX is collaborating with PepsiCo Europe to enhance sustainability in their supply chain, with a focus on using SMX's invisible marker system for packaging identification and waste sorting. This partnership, moving towards a final agreement, could significantly boost SMX's revenue, given PepsiCo's volume and sustainability goals. SMX's technology has already seen success with other major brands, suggesting a strong potential for a long-term relationship with PepsiCo.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 10:10 am