Streetbeat News

Partnerships

ABBV

AKAN

CYTO

FSR

LABP

NKTX

SINT

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all seeing declines. Energy shares rose by 1%, while communication services fell by 0.5%. Sales of new single-family houses in the U.S. dropped slightly. Landos Biopharma's stock surged 170% after announcing AbbVie will acquire it. Nkarta and Altamira Therapeutics also saw significant gains, while Sintx Technologies, Akanda Corp., and Fisker Inc. experienced sharp declines.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 4:07 pm

HMC

NSANY

TSLA

Nissan Motor Co Ltd (OTC:NSANY) announced the launch of 30 new models over the next three years, with 16 being electrified, in response to the rapid developments in the EV industry. This move contrasts with other automakers like Tesla Inc (NASDAQ:TSLA), Ford Motor (NYSE:F), and General Motors (NYSE:GM), which are bracing for cooling EV demand. Nissan aims to sell an additional 1 million vehicles by fiscal year 2026, targeting an operating profit margin of over 6% and total shareholder returns of over 30%. The company is also exploring a strategic partnership with Honda Motor Co Ltd (NYSE:HMC) to produce key EV components and develop AI in automotive software platforms.

Portfolio Pulse from Upwallstreet

March 25, 2024 | 4:07 pm

CYTO

Altamira Therapeutics Ltd. (NASDAQ:CYTO) shares surged after announcing a collaboration with Univercells Group to evaluate Altamira's SemaPhore platform for mRNA vaccine delivery. The agreement involves testing a proprietary mRNA vaccine with Altamira's platform, potentially leading to a commercial deal for nanoparticle-based mRNA vaccine development and manufacturing. The news has significantly increased trading volume, with over 51.2 million shares traded, far exceeding the 100-day average.

Portfolio Pulse from Erica Kollmann

March 25, 2024 | 4:06 pm

AAPL

BIDU

Apple has chosen Baidu to provide AI technology for its iPhone 16 and other products in China, using Baidu's Ernie Bot. This decision aligns with Apple's strategy to use locally-built technology in China for compliance reasons. The partnership was revealed amid Tim Cook's visit to China, highlighting Apple's commitment to the Chinese market. Baidu's stock in Hong Kong saw a 2.55% increase following the news. Meanwhile, Apple faces increased competition in China, with iPhone sales down 24% in the first six weeks of 2024. Samsung is also integrating Baidu's AI in its Galaxy S24 series in China.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:06 pm

ERIC

FIVG

IDGT

NOK

Ericsson (NASDAQ:ERIC) is laying off 1,200 employees in Sweden, 8.6% of its Swedish workforce, due to decreased demand and a cautious approach from mobile service providers. This is part of a broader cost-cutting strategy amid challenges in the European telecom equipment sector. The company had previously announced a pessimistic outlook for 2024 but expects a surge in the latter half due to a $14 billion agreement with AT&T Inc (NYSE:T). Ericsson's stock has gained 8% in the last six months, and exposure to Ericsson can be gained through IShares U.S. Digital Infrastructure And Real Estate ETF (NYSE:IDGT) and Defiance Next Gen Connectivity ETF (NYSE:FIVG).

Portfolio Pulse from Anusuya Lahiri

March 25, 2024 | 4:06 pm

TSLA

CATL's Chairman expressed confidence that the company will not be affected by the broader tech war, as global efforts to combat climate change take precedence. Despite geopolitical tensions, CATL plans to expand in the U.S. and is currently in discussions with Tesla and other automakers to license its battery technology in the country.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:06 pm

SABS

SAB Biotherapeutics, Inc. (SABS) announced a clinical partnership with the Naval Medical Research Center (NMRC) to advance SAB-176, a potential influenza treatment. The partnership, supported by the Henry Jackson Foundation, will conduct a pharmacokinetic, safety, and tolerability study of SAB-176 in healthy volunteers. SAB-176, developed using SAB's DiversitAb platform, targets influenza A and B and has received Breakthrough Therapy and Fast Track Designations from the FDA. This study marks the first intramuscular administration trial of a DiversitAb platform product.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 2:18 pm

FCX

GOLD

NEM

The Biden administration announced a $475 million funding allocation for clean energy projects in the mining sector, targeting companies like Freeport-McMoRan (FCX), Barrick Gold (GOLD), and Newmont (NEM). This initiative aims to support communities affected by the energy transition, with each company pursuing unique projects and strategies. Freeport-McMoRan is focusing on a geothermal and battery storage project in Arizona, Barrick Gold is expanding into copper mining in Africa and the Middle East, and Newmont is streamlining operations post-Newcrest acquisition.

Portfolio Pulse from Stjepan Kalinic

March 25, 2024 | 2:18 pm

CRWD

CrowdStrike (NASDAQ:CRWD) and HCLTech (NSE: HCLTECH) have announced a strategic partnership where HCLTech's managed detection and response (MDR) solutions will utilize CrowdStrike's AI-native Falcon XDR platform. This collaboration aims to enhance enterprise cybersecurity transformation, leveraging the Falcon platform's capabilities across various cybersecurity domains. The partnership is expected to address the increasing sophistication of cyberattacks and the cybersecurity skills gap by combining HCLTech's MDR expertise with CrowdStrike's technology.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 1:30 pm

RYAAY

Ryanair is actively working with Boeing's CEO and BCA CEO to address and eliminate the delays in Boeing 737 deliveries, which are currently hindering Ryanair's growth prospects through 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 1:27 pm