Streetbeat News

Partnerships

ABBV

AbbVie and OSE Immunotherapeutics have formed a strategic partnership to develop OSE-230, a monoclonal antibody for treating chronic inflammation. OSE Immunotherapeutics will receive an upfront payment of $48 million and could receive up to $665 million in milestone payments.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:03 am

SKM

SKT Telecom, Iceotope, and SK Enmove have signed an MOU to collaborate on enhancing AI data center cooling efficiency through the deployment of Precision Liquid Cooling (PLC) using SK Enmove's thermal fluid at SKT's AI Data Center Testbed. SKT will also develop an integrated Coolant Distribution Unit (CDU) with Iceotope's technical support.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:26 am

BTCUSD

TRX

Justin Sun, founder of TRON, revealed his Bitcoin holdings of 28,613 BTC, valued at approximately $1.638 billion. He made this disclosure in response to comments about his usage of the HTX exchange, emphasizing his active participation. This announcement coincides with Bitcoin's price surge to $57,000, a peak not seen since December 2021. The crypto market has seen a ripple effect from this rally, with increased investments in Bitcoin ETFs and a significant rise in the global cryptocurrency market cap. Sun also highlighted TRON's commitment to integrating Bitcoin scalability solutions and collaborating with Bitcoin layer-2 protocols.

Portfolio Pulse from Mehab Qureshi

February 28, 2024 | 5:54 am

LUNR

Intuitive Machines will join NASA at a news conference at the Johnson Space Center in Houston on February 28, 2024, at 2:00 PM ET to discuss details of its upcoming lunar mission.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:14 pm

SFM

UBER

BofA Securities analyst Robert Ohmes upgraded Sprouts Farmers Market Inc (NASDAQ:SFM) from Underperform to Buy and raised the price target from $30 to $70 following a deal with Uber Eats and strong Q4 results. Sprouts will make over 15,000 products available on Uber Eats, and aims for a store growth rate of around 9%, targeting more than 10% by 2025. The company's unique position in food retail and differentiated product assortment contribute to its competitive edge. Following strong Q4 results, the 2024 earnings estimate for SFM has been raised to $2.90 per share.

Portfolio Pulse from Priya Nigam

February 27, 2024 | 10:08 pm

NFGC

SPOFF

EarthLabs (OTC:SPOFF), a Canadian mining investment and technology company, is preparing for a potential commodity market boom by adopting a multi-faceted business approach. This includes investments in mining, a media group comprising several platforms for outreach, and a robust royalty portfolio, including a notable royalty on New Found Gold Corp (NYSE:NFGC). CEO Denis Laviolette highlighted EarthLabs' unique strategy, comparing it to General Electric's broad product range and the versatility in mixed martial arts. Laviolette also discussed the challenges and opportunities in the African commodity market, emphasizing the competition from China and India, and the potential for the continent's mining sector. Additionally, he addressed the current state of the metals and minerals space, the difficulty for U.S. retail investors to access Canadian junior miners, and EarthLabs' efforts to simplify access to mining investments.

Portfolio Pulse from Melanie Schaffer

February 27, 2024 | 8:40 pm

DASH

DoorDash shares are trading higher following the announcement of a partnership with Pet Supplies Plus for on-demand delivery services. This partnership is expected to enhance DoorDash's offerings and potentially increase its market share in the on-demand delivery sector.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 8:30 pm

EBAY

GOOG

GOOGL

Sophie Riegel, a 23-year-old with a full-time job, has successfully turned her thrifting side hustle into a significant income source, bringing in over $10K per month. Starting in 2020 as a student at Duke University, Riegel has netted over $192,000 in profit by selling thrifted clothes online. She utilized YouTube, particularly Alphabet Inc's platform, for reselling tips and sells her finds on eBay, among other online marketplaces. Riegel is considering expanding her operation by hiring help for online listing tasks.

Portfolio Pulse from Adam Eckert

February 27, 2024 | 8:10 pm

DPZ

UBER

J.P Morgan analyst John Ivankoe downgraded Domino's Pizza Inc (DPZ) to Neutral from Overweight, despite raising the forecast to $430 from $420, citing the stock is now fully priced. Meanwhile, BMO Capital Markets analyst Andrew Strelzik reiterated an Outperform rating on Domino's, raising the price target to $535 from $475, highlighting January promotions, weather benefits, and contributions from Uber Eats. Domino's is seen as a beneficiary of food cost deflation and is expected to see restaurant margin improvements and unit growth acceleration in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 27, 2024 | 7:12 pm

BONKUSD

DOGEUSD

PEPEUSD

SHIBUSD

Dogecoin (DOGE) experienced a 10% rally, driven by a significant increase in large transactions and recent ecosystem developments. Trading volumes surged 319.6%, and DOGE re-entered the top 10 cryptocurrencies by market cap. Twitch announced it would accept DOGE for its Turbo subscription, and Bitflyer, a major Japanese exchange, listed DOGE. Whale transactions and derivatives metrics also saw increases. Dogecoin led meme coins in social activity, outperforming Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK). Analysts and traders are bullish, with predictions of further price increases.

Portfolio Pulse from Khyathi Dalal

February 27, 2024 | 6:01 pm