Streetbeat News

Partnerships

PEP

SMX has entered a pilot program with PepsiCo to combat counterfeiting and ensure product authenticity. Initial tests were successful, and both parties are considering scaling the technology across operations. This technology has proven effective in accurately identifying marked PepsiCo packaging, enhancing brand integrity and supply chain transparency.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:40 pm

CVNA

REAL

RENT

RERE

ATRenew Inc. (NYSE:RERE) reported its first-ever quarterly net profit since its 2021 IPO, with shares surging 27% following the announcement. The company's revenue increased by 30% in Q4, driven by efficiencies and a significant iPhone recycling collaboration with Apple. ATRenew's diversification into other electronics and consumer products, alongside operational improvements, contributed to this milestone. The company's alignment with China's recycling priorities and expansion into global markets with its automated inspection technology further supports its growth outlook.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 3:30 pm

BMY

JNJ

LEGN

NVS

GenScript Biotech Corp. and its subsidiary Legend Biotech Corp. reported significant growth in 2023, driven by the success of the CAR-T cell therapy, Carvykti, for cancer treatment. GenScript's revenue increased by 34.2% to $840 million, and its loss decreased to $95.5 million from $230 million in 2022. Legend Biotech, in partnership with Janssen Biotech (a Johnson & Johnson subsidiary), has seen rapid sales growth for Carvykti, especially in the U.S. and Europe. The therapy's success has led to a licensing deal with Novartis and plans to expand production capacity. Despite challenges, including potential U.S.-China tensions, GenScript's diversified business and strategic partnerships position it for future growth.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 3:30 pm

AMD

AMZN

ESPO

SPRX

AMD partners with Sony Semiconductor Solutions to enhance LiDAR technology in autonomous vehicles, leveraging AMD's adaptive computing technology. This collaboration aims to improve the performance of SSS's LiDAR systems, crucial for autonomous driving. KeyBanc analyst John Vinh noted AMD's modest growth, with a 1% month-on-month increase in processor instances, largely driven by Amazon AWS. Despite a decline in traditional server demand, AMD's outlook remains moderately optimistic. AMD's stock, which gained over 87% last year, is included in the VanEck Video Gaming And ESports ETF and Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:22 pm

WWR

Westwater Resources, Inc. (NYSE:WWR) shares surged after reporting FY23 results, showing an EPS loss improvement, increased product development expenses, and a significant cash settlement from the Republic of Turkey. The company highlighted its first off-take agreement with a Tier 1 battery manufacturer and progress on the Kellyton Graphite Plant, positioning it well for 2024.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 3:10 pm

UNG

USO

XOM

Suriname is planning to allocate a total of 20-21 shallow water blocks in an upcoming bidding round, with flexibility in negotiating terms for gas developments. This move could potentially attract significant interest from energy companies looking to expand their exploration and production portfolios.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:43 pm

TRUG

TruGolf Holdings Inc (NASDAQ:TRUG) stock surged 52% to $1.75 after announcing a partnership with AI firm mlSpatial to enhance its APOGEE launch monitor. The collaboration involves integrating an advanced AI engine and gives TruGolf an option to acquire mlSpatial's assets in the future.

Portfolio Pulse from Henry Khederian

March 20, 2024 | 2:11 pm

SOPH

SOPHiA GENETICS announced its first customer in Canada for Homologous Recombination Deficiency (HRD) testing, marking a significant milestone in its expansion and adoption of its genetic testing services in the country.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:02 pm

AREN

Sports Illustrated, a 70-year-old iconic sports magazine, has been saved from closure by Minute Media, which has become its new publisher. Authentic Brands Group, the owner of Sports Illustrated's intellectual property rights, announced the deal, which includes Minute Media's plan to retain and rehire some staff. The magazine has faced challenges, including layoffs and managerial changes, but this deal marks a pivotal moment for its future. Authentic Brands Group will also acquire an equity stake in Minute Media as part of the agreement. Arena Group Holdings Inc (NASDAQ:AREN) previously missed a $2.8-million payment to Authentic Brands Group, leading to job cuts and the termination of their licensing agreement.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 2:01 pm

TRUG

TruGolf's stock price increased following the announcement of an expanded AI technology licensing agreement with mlSpatial. This partnership is expected to enhance TruGolf's offerings by incorporating advanced AI capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:01 pm