Streetbeat News

Partnerships

DASH

SBH

DoorDash Inc (NASDAQ:DASH) has announced new partnerships with Sally Beauty Holdings Inc (NYSE:SBH) and M·A·C Cosmetics, alongside an expanded offering with Sephora, to deliver beauty, hair, makeup, and nail essentials on-demand in under an hour. This expansion builds on DoorDash's beauty on-demand service launched in 2021, now featuring over 400,000 products. The service is available from over 2,000 Sally Beauty stores and all M·A·C stores across the U.S., with Sephora's Beauty Insider members gaining access to exclusive sale events.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 2:37 pm

AMZN

LLY

MRK

NVO

Eli Lilly's Zepbound overtakes Novo Nordisk's Wegovy in new U.S. prescriptions for weight loss, marking a significant milestone since its launch in December. Despite Wegovy's lead in total prescriptions, Zepbound's surge highlights the competitive landscape in the GLP-1 drug market, expected to reach $105 billion by 2029. Additionally, Eli Lilly partners with Amazon Pharmacy for home delivery of select medications, enhancing access to treatments. Eli Lilly also combats counterfeit tirzepatide products through legal action.

Portfolio Pulse from Vandana Singh

March 18, 2024 | 2:21 pm

GOOGL

NVDA

PEP

U.S. stocks were higher on Monday, with notable gains in shares of Alphabet Inc., Nvidia, PepsiCo, and other companies. Alphabet shares rose 6.3% following reports of discussions with Apple to integrate Google Gemini into iPhones. Other stocks like Brand Engagement Network, Nuvei Corp, and NuScale Power Corporation also recorded significant gains. Nvidia and PepsiCo saw their stock prices increase after positive analyst ratings and upgrades.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 2:13 pm

GOEV

Canoo Inc (NASDAQ:GOEV) shares surged 56% to $3.03 after the U.S. Department of Commerce approved its Oklahoma City facility as a Foreign Trade Zone (FTZ). This designation allows Canoo to significantly reduce customs duties on international vehicle sales and defer duties on imported parts for domestic sales. Over 90% of Canoo's parts are sourced from the U.S. and allied nations, with 70% from North America. The FTZ status is expected to lower international vehicle costs by up to 5% and improve working capital for domestic sales. Canoo plans to expand its Oklahoma manufacturing site and aims to establish one of the largest FTZs in the state, which is anticipated to create high-paying jobs and contribute to the growth of the advanced manufacturing sector.

Portfolio Pulse from Henry Khederian

March 18, 2024 | 2:11 pm

FSR

Fisker Inc (NYSE:FSR) shares dropped 8.4% to $0.16 after announcing a financing commitment of up to $150 million from an existing investor, subject to conditions including the filing of its 2023 Form 10-K. The company is also in talks with a major automaker for EV collaboration in the US and plans to halt production for six weeks to balance inventory. Fisker disclosed these updates in a Form 8-K filed with the SEC.

Portfolio Pulse from Henry Khederian

March 18, 2024 | 2:09 pm

UPS

Teamsters announced that UPS administrative and specialist workers have ratified a contract to join the Teamsters National Master Agreement, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 2:05 pm

AAPL

GOOG

GOOGL

Gene Munster of Deepwater Asset Management highlighted the potential deal between Apple Inc. (AAPL) and Alphabet Inc. (GOOG/GOOGL) to license Google's Gemini AI model for iPhone software features as a significant win for both companies. This collaboration could lead to Apple integrating advanced AI into its iPhones, benefiting from Google's AI technology, while Google could see substantial annual payments and widespread distribution. The deal, still under negotiation, has been positively received by investors, with premarket stock movements reflecting optimism.

Portfolio Pulse from Rounak Jain

March 18, 2024 | 2:01 pm

AMZN

FDX

UPS

FedEx Corp (NYSE:FDX) and Amazon.com Inc (NASDAQ:AMZN) have reportedly revisited potential collaborations, following their previous split. Discussions included FedEx handling Amazon returns at its retail locations. Despite the talks, no deal was reached. This comes as FedEx seeks to increase parcel volumes and Amazon aims to improve its return processes. Notably, FedEx ended its delivery contract with Amazon in 2019, viewing Amazon's growing delivery capabilities as a threat.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 1:51 pm

VFS

Pham Nhat Vuong, founder of VinFast Auto Ltd (NASDAQ:VFS), launched V-Green, an EV charging venture to support VinFast vehicles globally. V-Green aims to expand charging infrastructure in key markets, manage VinFast's network in Vietnam, and may extend services to other EV manufacturers after five years. An investment of $404 million over two years is planned to enhance infrastructure. Vuong's previous venture, Green SM, significantly contributed to VinFast's sales in 2023. VFS shares rose 0.80% to $5.06 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 1:29 pm

SOLUSD

The founder of the Slerf meme coin project accidentally destroyed 150,000 Solana (SOL) tokens, worth about $10 million, intended for an airdrop. This mistake occurred during an attempt to burn the project's liquidity pool using Solana tools and then switching to a different platform, leading to the accidental inclusion of the airdrop tokens in the burn transaction. The crypto community reacted with shock, humor, and skepticism, and the future of the Slerf project remains uncertain. The incident has sparked discussions about the potential for legal repercussions and the project's ability to refund pre-sale participants.

Portfolio Pulse from Murtuza Merchant

March 18, 2024 | 1:24 pm