Streetbeat News

Partnerships

SAVE

Spirit Airlines Inc (NYSE:SAVE) shares surged after the company announced an agreement with International Aero Engines, providing Spirit with a monthly credit through 2024 due to GTF engine issues. This compensation is in response to the need for accelerated inspection and potential replacement of certain engine parts, identified by Pratt & Whitney last year. The financial impact of this agreement on Spirit's liquidity is estimated to be between $150 million and $200 million.

Portfolio Pulse from Adam Eckert

April 01, 2024 | 2:41 pm

IYT

TPOR

UPS

United Parcel Service, Inc. (NYSE:UPS) shares fell by over 1.4% to $146.60 after announcing a significant air cargo contract with the USPS, making it the primary air cargo provider in the US. UPS also shared optimistic three-year financial targets, including a consolidated revenue of $108 billion to $114 billion and a free cash flow of $17 billion to $18 billion. Exposure to UPS stock can be gained through IShares Trust IShares U.S. Transportation ETF (BATS:IYT) and Direxion Daily Transportation Bull 3X Shares (NYSE:TPOR).

Portfolio Pulse from Lekha Gupta

April 01, 2024 | 2:36 pm

WETH

Wetouch Technology Inc. (NASDAQ:WETH) preannounced its 2023 revenue of $39.71M, up from $37.92M in 2022, despite a slight decrease in net income from $8.73M to $8.31M. The company attributes its revenue growth to strategic partnerships and anticipates further increases in revenue and net income in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:27 pm

DIS

LSXMK

Liberty Media's CEO, Greg Maffei, is currently in an exclusive negotiating period with ESPN, as revealed in a CNBC interview. This negotiation phase indicates potential strategic moves or partnerships between Liberty Media and ESPN, which could have implications for both entities and their stakeholders.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:21 pm

NVDA

OpenAI is reportedly taking steps to reduce its dependence on certain Nvidia hardware, according to The Information. This move could have implications for Nvidia's business, given OpenAI's prominence in the AI sector.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:17 pm

CNFR

Conifer Holdings, Inc. (NASDAQ:CNFR) has announced a strategic partnership with Palomar Holdings, Inc. to provide comprehensive insurance coverage tailored for the cannabis industry. This partnership leverages both companies' expertise to address the unique risks faced by cannabis businesses, aiming to offer unparalleled coverage options.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:03 pm

BA

UAL

United Airlines is requesting pilots to take unpaid time off due to delays in aircraft deliveries from Boeing, impacting the airline's growth plans and leading to a pause in pilot hiring. The delays are attributed to production problems and a safety crisis at Boeing, affecting United's 2024 forecast and delivery schedule for various Boeing 737 Max models. Boeing's CEO Dave Calhoun announced his departure amid these issues.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:58 pm

BMY

ZLAB

Bristol Myers Squibb (BMY) announced mixed results for two of its drugs. The Phase 3 YELLOWSTONE trial of Zeposia for Crohn’s disease did not meet its primary endpoint, while the KRYSTAL-12 study of Krazati for NSCLC met its primary and key secondary endpoints. Zai Lab (ZLAB) has exclusive rights to develop and commercialize adagrasib in Greater China.

Portfolio Pulse from Vandana Singh

April 01, 2024 | 1:44 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) has advised its customers against using third-party adapters at Tesla superchargers, emphasizing the necessity of using Rivian-provided adapters. Rivian vehicles, equipped with a Combined Charging System (CCS) charge port, require an adapter to use Tesla's supercharger network, which uses the North American Charging Standard (NACS). Rivian plans to offer these adapters to its customers for free and will start incorporating Tesla's charging standard into its vehicles from 2025, eliminating the need for an adapter. Tesla's supercharger network, with over 15,000 stations, represents three-quarters of all fast chargers in North America.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 1:42 pm

DASH

LOW

DoorDash Inc (NASDAQ:DASH) has partnered with Lowe's Companies Inc (NYSE:LOW) to offer on-demand delivery from over 1,700 Lowe's stores nationwide. This marks DoorDash's entry into the home improvement sector, allowing consumers to purchase Lowe's products directly through the DoorDash app, including same-day delivery. Lowe's stores will also be featured on DashPass, DoorDash's membership program, which provides a $0 delivery fee for members. DoorDash's expansion into non-restaurant stores now includes more than 150,000 locations globally, while Lowe's operates over 1,700 home improvement stores.

Portfolio Pulse from Shivani Kumaresan

April 01, 2024 | 1:21 pm