Streetbeat News

Partnerships

GEHC

GE HealthCare (GEHC) and Hartford HealthCare have renewed their Care Alliance agreement for another 7 years, aiming to enhance patient care and access in Connecticut. The collaboration will focus on innovation, improving patient and staff experiences, and advancing imaging technologies through 2030.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:31 pm

ALK

Alaska Airlines' aircraft maintenance technicians and related employees, represented by AMFA, have ratified a new five-year contract. This agreement includes increased pay, retirement contribution increases, and quality of life improvements. It was negotiated over 12 months and is part of Alaska Airlines' efforts to secure seven contracts across six represented groups since 2022. The contract, effective from October 17, 2023, aims to attract and retain skilled professionals by offering competitive benefits.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:22 pm

NTNX

WIT

Wipro Limited (NYSE:WIT) shares rose after announcing an agreement with Desjardins to modernize consumer banking services using its NetOxygen platform. The deal involves integrating Desjardins' loan origination systems into one platform, aiming to enhance customer experience and efficiency. Additionally, Wipro expanded its partnership with Nutanix, Inc. (NASDAQ:NTNX) to launch a new business unit. Despite these developments, Wipro reported a 1.4% decline in Q4 FY23 gross revenue, with IT services revenue down 2.1% Q/Q.

Portfolio Pulse from Lekha Gupta

March 14, 2024 | 4:41 pm

LAC

Lithium Americas Corp. (NYSE:LAC) shares rose after announcing a conditional commitment from the U.S. Department of Energy for a $2.26 billion loan to finance construction at Thacker Pass, aimed at producing 40,000 tonnes per year of lithium carbonate. This financing is part of the Advanced Technology Vehicles Manufacturing loan program, supporting the U.S. in leading global electrification and strengthening battery supply chains.

Portfolio Pulse from Erica Kollmann

March 14, 2024 | 4:16 pm

GM

LAC

Lithium Americas (NYSE:LAC) has received a $2.26 billion loan from the U.S. Department of Energy for its Thacker Pass project in Nevada, the largest lithium deposit in the U.S. This funding, part of the Inflation Reduction Act, aims to support the construction of a lithium carbonate processing plant crucial for electric vehicle batteries and renewable energy sources. General Motors (NYSE:GM) has invested $650 million in the project, securing exclusive access to its Phase 1 lithium production.

Portfolio Pulse from Stjepan Kalinic

March 14, 2024 | 4:02 pm

GROM

Grom Social Enterprises, Inc (NASDAQ:GROM), a Florida-based entertainment provider, has entered into a Letter of Intent to acquire Arctic7, a company specializing in game development, co-development, virtual production, and transmedia IP extension. This acquisition aims to broaden Grom's portfolio, complementing its family-friendly programming, web filtering technology, and safe social media for kids with Arctic7's gaming and virtual production capabilities. Arctic7 will operate as a division within Grom post-acquisition, focusing on delivering engaging experiences and exploring partnership opportunities.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:16 pm

CURLF

TLRY

Tilray and Curaleaf are expanding their presence in Europe, capitalizing on the rapidly growing cannabis market. Curaleaf announced a new supply agreement in the Czech Republic, while Tilray received approval for its first medical cannabis extract in Portugal. The European cannabis market surpassed €2 billion in 2023, with Germany, Czech Republic, Switzerland, and the Netherlands leading regulatory developments. The Benzinga Cannabis Capital Conference in Florida will further discuss these market dynamics.

Portfolio Pulse from Jelena Martinovic

March 14, 2024 | 2:58 pm

WMT

Walmart Inc. (NYSE:WMT) announced a pilot project with fashion tech company unspun to address waste in the apparel industry through 3D weaving technology. This initiative aims to reduce fabric loss and discarded inventory. Additionally, Walmart launched an AI-powered logistics product, Route Optimization, offered as a SaaS solution through Walmart Commerce Technologies, enhancing middle mile efficiency for businesses.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 2:11 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) announced its fiscal year 2024 Q1 business update, highlighting a licensing deal with AiBtl BioPharma Inc. for CNS drugs, regaining Nasdaq compliance, strategic investments in real estate for healthcare development, and various financial transactions including securities purchase agreements with Lind Global Fund II, LP. The company reported a decrease in revenues and operating expenses, a net loss reduction, and progress in R&D including patents, FDA approvals, and a licensing agreement with Xinnovation Therapeutics Co., Ltd for the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:35 pm

WMT

Walmart (NYSE:WMT) and unspun have announced a pilot project to explore a novel 3D weaving technology aimed at reducing waste in apparel manufacturing and supporting US-based production. This technology, which directly converts yarn into garments, could offer a more sustainable process for meeting apparel demand. The pilot will focus on producing workwear style pants under a Walmart house brand. Success in this pilot could lead to further collaboration and expansion of microsites across the U.S. for localized manufacturing.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:33 pm