Streetbeat News

Partnerships

DTSS

Datasea Inc (NASDAQ:DTSS) shares dropped 19% to $7.35 after announcing a joint venture, Datasea Yiyun Digital Technology Co., Ltd., with Shenzhen Yiyun Technology Co., Ltd. in China. The venture aims to enhance their 5G multimodal communications presence by integrating AI and leveraging their technological strengths. Datasea holds a 66% equity stake, and Yiyun Technology 34%. The collaboration is expected to offer competitive advantages in technology, customer acquisition, and pricing strategies within China's 5G sector.

Portfolio Pulse from Henry Khederian

February 20, 2024 | 7:43 pm

ARM

NVDA

SSNLF

Samsung Electronics Co (OTC:SSNLF) and Arm Holdings Plc (NASDAQ:ARM) have announced a collaboration to develop the next-generation Arm Cortex-X CPU using Samsung's Gate-All-Around process technology. This partnership aims to drive innovations in the semiconductor industry, focusing on a 2-nanometer AI chipset for mobile computing and data centers. Meanwhile, Nvidia Corp (NASDAQ:NVDA) increased its stake in Arm Holdings, which has seen its shares surge by 119% over the past quarter following its IPO.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 6:08 pm

BMR

Beamr Imaging Ltd. (NASDAQ:BMR) announced the launch of Beamr Cloud Video Software as a Service, aimed at optimizing video processing at scale. The service, showcased on Amazon AWS, offers up to 50% savings compared to traditional methods and includes features like codec modernization and AI-specific workflows. Beamr's CEO, Sharon Carmel, highlighted the service's efficiency, quality, and scalability, positioning it as a game-changer in the rapidly growing video processing industry.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:42 pm

CCI

Crown Castle Inc. (CCI) has rejected a slate of directors nominated by Ted Miller's Boots Capital for its Board, focusing instead on a CEO search and a strategic review of its fiber business. The company has made significant progress, including appointing three new independent directors and initiating a comprehensive review of its fiber operations with the help of top advisors. CCI's Board will present its formal recommendation for the election of directors at the 2024 Annual Meeting of Stockholders scheduled for May 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:40 pm

GFS

INTC

Intel Corp (NASDAQ:INTC) stock rose amid discussions with the U.S. government to secure a record sum under the U.S. Chips Act, aiming to enhance its position in the AI market. The company could receive over $10 billion in loans and grants. Intel is also expanding its manufacturing capabilities, including a significant investment in a new plant in Ireland and a partnership with Brookfield Infrastructure in Arizona. However, analysts predict a first-quarter sales miss due to various challenges. Meanwhile, GlobalFoundries Inc (NASDAQ:GFS) secured $1.5 billion in grants under the same act.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 5:37 pm

SYBX

Synlogic, Inc. (NASDAQ:SYBX) has adopted a limited duration shareholder rights plan and authorized a dividend distribution of one right for each outstanding share of common stock, effective immediately with a one-year duration, expiring on February 20, 2025. The plan is a response to unsolicited share accumulation by an investor, aiming to protect stockholders and ensure fair value in case of control changes. The rights become exercisable if an entity acquires 15% or more of Synlogic's stock without Board approval. Synlogic has also engaged Ladenburg Thalmann & Co. Inc. as a financial advisor to explore strategic options to maximize shareholder value.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:18 pm

UNVGY

Universal Music Group (UMG) is set to acquire a 25.8% stake in Chord Music Partners for $240 million, valuing Chord at $1.85 billion. This deal, advised by Goldman Sachs and others, involves UMG and Dundee Partners forming a strategic partnership to manage and acquire music IP. Chord, established by KKR and Dundee, holds over 60,000 copyrights from top artists. KKR will exit Chord, leaving Dundee and UMG with 74.2% and 25.8% ownership, respectively. The partnership aims to leverage UMG's global network for rights management and future acquisitions.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:17 pm

PINS

Pinterest is launching its first streaming show, 'Deliciously Entertaining,' in partnership with Tastemade. The cooking and lifestyle series aims to increase user engagement on Pinterest by featuring shoppable Pins linked to each episode's recipes and DIY tutorials. The show, premiering on Tastemade's streaming channel and apps, will not generate direct sales revenue for Pinterest but is expected to boost platform activity.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:51 pm

SBGI

Sinclair Broadcast Group (NASDAQ:SBGI) has announced a new distribution agreement with TEGNA to expand the reach of its multicast network, The Nest, to 79% of US OTA TV households, making it available in 44 of the top-50 markets. This expansion includes 35 additional channels in major markets. Additionally, Sinclair's Comet network will be upgraded on TEGNA's KHOU TV in Houston. The Nest, launched in Oct '23, offers a variety of programming and is part of Sinclair's growing portfolio of multicast networks, which have seen significant year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:40 pm

BA

UAL

United Airlines' CFO expressed deep disappointment in Boeing due to delays in aircraft deliveries, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:39 pm