Streetbeat News

Partnerships

BWA

BorgWarner has won a contract to supply its dual inverter with boost function for PHEV and REEV passenger car platforms of a major Chinese OEM. This technology, which integrates two inverters and a high-power boost module into a single package, will be produced in BorgWarner's Suzhou, China plant starting September 2024. The product aims to enhance power density and performance while meeting local hybrid architecture standards in China, marking BorgWarner's first 400V dual inverter with boost function for this OEM.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:08 pm

BWA

XPEV

BorgWarner has initiated production of eMotor rotor and stator for XPeng Motors, targeting the X9 MPV and a future B-class sedan. The HVH220 eMotor, featuring high power and efficiency, began production in January 2024. This collaboration aims to enhance China's electric vehicle industry, with BorgWarner's technology offering up to 300kW power and over 97% efficiency.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:07 pm

AAPL

META

MSFT

Apple Inc. has launched a new AI image editing tool, MGIE, allowing users to edit photos with text prompts. Developed with the University of California, Santa Barbara, MGIE uses multimodal language models for edits and is available on GitHub and Hugging Face Spaces. This marks Apple's significant move into the generative AI space, aligning with CEO Tim Cook's plans to integrate more AI features into Apple devices. The launch comes amid ethical concerns over AI in image generation, highlighted by a Stanford study and comments from Microsoft CEO Satya Nadella.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 1:05 pm

NSP

WDAY

Workday and Insperity have entered into an exclusive strategic partnership to jointly develop, brand, market, and sell a leading full-service HR solution targeted at small and midsize businesses. This collaboration aims to leverage both companies' strengths to offer a comprehensive HR package that addresses the unique needs of this segment.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:59 pm

UCAR

U Power Limited (NASDAQ:UCAR) shares surged in the premarket session on Thursday following the appointment of Jean Christophe von Pfetten as an independent director and member of various committees, effective February 1, 2024. This comes after Bo Lyu's resignation and a significant share price drop over the last year. U Power received a Nasdaq compliance warning in January but also signed a memorandum with Cornerstone Technologie to develop a strategic business relationship, aiming to increase visibility for their battery swapping stations. UCAR shares rose by 47.95% to $0.0975 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 08, 2024 | 12:55 pm

BTCUSD

Investors have sued the NBA and Mark Cuban over losses of $4.2 billion linked to the collapse of Voyager Digital Holdings Inc., accusing them of gross negligence and promoting an unregistered and unsustainable fraud. The lawsuit also implicates the NBA in promoting unregistered securities through its partnership with Voyager. This follows legal actions against founders of cryptocurrency companies like FTX and Voyager, with significant legal and financial repercussions.

Portfolio Pulse from Mehab Qureshi

February 08, 2024 | 12:52 pm

DASH

GETR

UBER

Getaround, Inc. (NYSE:GETR) shares surged in premarket trading after announcing a workforce and operations restructuring plan aimed at cost reduction and aligning with the globalization of the carsharing business. The plan includes a 30% workforce reduction in North America, expected to save $7 million annually. Despite restructuring costs of up to $1 million, Getaround is expanding into gig carsharing for drivers of Uber Technologies, Inc. (NYSE:UBER) and DoorDash, Inc. (NASDAQ:DASH). The company reported a 42% year-over-year revenue increase to $23.8 million for Q3 2023 and secured a $20 million debt facility from Mudrick Capital Management. Getaround forecasts a gross booking value of $200 million to $205 million and an adjusted EBITDA loss of $(68) million to $(70) million for FY 2023. GETR shares rose 6.40% to $0.2811 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 08, 2024 | 12:41 pm

FHTX

LLY

Foghorn Therapeutics' stock price increased following Eli Lilly's decision to select FHD-909 for clinical development, initially targeting lung cancer.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:22 pm

FHTX

LLY

Foghorn announced that Eli Lilly has selected FHD-909 for clinical development targeting BRG1 mutated non-small cell lung cancer (NSCLC). Lilly plans to file an Investigational New Drug application in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:13 pm

AKTS

Akoustis Technologies has announced its patented XBAW filters are being incorporated into two new programs with an enterprise Wi-Fi access point solutions provider. This collaboration highlights the growing adoption of Akoustis's advanced filter technology in the enterprise Wi-Fi market.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:13 pm