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Partnerships

IDAI

Trust Stamp (NASDAQ:IDAI), a provider of AI-powered trust and identity services, has been recognized by the Federal Reserve as a Fraud Mitigation Service Provider for synthetic identity fraud. This recognition follows their participation in a call for participation by the Federal Reserve in September 2022. Trust Stamp serves nearly fifty US banks and is involved in the ICBA ThinkTECH Accelerator, emphasizing the importance of combating synthetic identity fraud for their clients. The company's technology aims to address the challenges posed by Trojans to third-party device-based biometric solutions.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:27 pm

ATHM

BIDU

CANG

CVNA

KXIN

Autohome Inc. (ATHM) reported a 4% increase in net profit to 1.88 billion yuan for the last year, with sales of new energy vehicles (NEVs) soaring by nearly 82%. The company's collaboration with Baidu (BIDU) on artificial intelligence and big data aims to enhance its service offerings. Despite rising costs, Autohome's strategic investments and focus on NEVs and the used car market are positioning it for growth. Its P/S ratio significantly exceeds that of peers Cango (CANG), Kaixin Auto (KXIN), and Carvana (CVNA), indicating strong investor confidence.

Portfolio Pulse from The Bamboo Works

February 16, 2024 | 3:51 pm

SBSW

Sibanye-Stillwater (NYSE:SBSW) is exploring new applications for palladium in the hydrogen market as demand from the automotive sector decreases due to the shift towards electric vehicles. The company, facing a decline in palladium prices and industry layoffs, has formed a joint venture with Heraeus Precious Metals to innovate in hydrogen applications, aiming to reduce costs and dependence on scarce materials like iridium.

Portfolio Pulse from Stjepan Kalinic

February 16, 2024 | 3:01 pm

CMCSA

PARA

Paramount is reportedly in discussions with Comcast about a potential streaming deal as it explores various strategic options. This move indicates Paramount's efforts to strengthen its position in the competitive streaming market.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 2:55 pm

MSFT

Elon Musk criticizes OpenAI, co-founded with Sam Altman, for its shift from a non-profit, open-source model to a profit-oriented, closed-source structure, particularly in light of its collaboration with Microsoft Corp. (NASDAQ:MSFT). Musk's disapproval stems from OpenAI's partnership with Microsoft and its transition towards profit-making, despite Musk's own ventures into for-profit AI companies like xAI, Neuralink, and Optimus.

Portfolio Pulse from Rounak Jain

February 16, 2024 | 2:19 pm

COIN

MSTR

SPY

YELP

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged amid increased US demand. MicroStrategy's potential S&P 500 inclusion could broaden Bitcoin's reach. Dogecoin's co-creator disclosed minimal Bitcoin holdings. Cathie Wood praised Coinbase's timing and execution after selling shares. Coinbase is named custodian in multiple Ethereum ETF applications, seen as beneficial for the company. Yelp, Roku, and Dropbox stocks moved lower in pre-market trading. S&P 500 hit a record high, reflecting improved investor optimism. Political and economic events also influenced market sentiments.

Portfolio Pulse from Akanksha Bakshi

February 16, 2024 | 2:08 pm

SONY

STX

Sony Group Corp (NYSE:SONY) and Seagate Technology Holdings Plc (NASDAQ:STX) are collaborating to double HDD capacity to 30TB to meet the increasing demands of data centers. Sony will invest $33 million in expanding facilities for mass production of advanced laser diodes starting May. This technology aims to address the growing data needs by enabling denser data packing, promising to double storage capacity while reducing space and electricity consumption by 40%. Sony reported a 22% year-on-year sales growth in Q3 FY23, with plans to list its financial arm in October 2025. However, Sony's stock was downgraded by Macquarie analyst Damian Thong from Outperform to Neutral.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 2:05 pm

BFA

BFB

Brown-Forman Corporation (NYSE:BFA, BFB) has announced the sale of its Trinity, Alabama cooperage to Independent Stave Company (ISCO), with the transaction expected to close by May 1, 2024. The facility will be renamed to Alabama Cooperage and continue producing barrels for Jack Daniel's Tennessee Whiskey under a strategic relationship. This move follows Brown-Forman's previous sales of stave mills to ISCO and is part of a strategy to ensure a steady supply of high-quality barrels. Brown-Forman will still own and operate the Brown-Forman Cooperage in Louisville, Kentucky.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 2:03 pm

DIS

FOX

NFLX

PARA

WBD

The Justice Department is reviewing a proposed joint streaming service by Disney (DIS), Fox (FOX/FOXA), and Warner Bros. Discovery (WBD), focusing on potential consumer harm and sports rights control. The service, combining ESPN, ABC, Fox, TNT, and TBS content, could control 55% of US sports rights. Concerns include price inflation and limited rights-selling options for sports leagues. The review is part of broader antitrust scrutiny in sports and media. Disney is also evaluating its TV network strategy, considering sales or shifts to joint ventures, amid broader challenges in the streaming market.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 1:58 pm

MIGI

Mawson Infrastructure Group Inc. (MIGI) reported a significant growth in its January 2024 revenue, reaching approximately $7.06 million, which is a 3X increase from January 2023 and an 18% month-over-month growth. This growth is attributed to the company's expansion in its three primary business lines: energy management, co-location, and self-mining. MIGI also announced the addition of a new co-location customer, FTI, marking the third such agreement since Q4 2023. The company's operational capacity includes two sites in Pennsylvania with a total power capacity of 109 MW, capable of supporting 35,650 miners.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:47 pm