Streetbeat News

Partnerships

META

Meta Platforms announced the election of Hock E. Tan and John Arnold to its board of directors, aiming to leverage their expertise in silicon and energy infrastructure to advance its AGI ambitions. Tan brings extensive experience from Broadcom and other tech firms, while Arnold offers insights from his work in energy and public systems through Arnold Ventures and Grid United.

Portfolio Pulse from Happy Mohamed

February 14, 2024 | 9:24 pm

SSNC

SS&C Technologies Holdings, Inc. (SSNC) has entered into a long-term agreement with DDH Graham, an Australian investment management firm. Under this agreement, DDH Graham will utilize SS&C's financial administration and technology resources on a sub-contracting basis. The transition of administration services to SS&C is expected to occur over the next few months.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:20 pm

CMCSA

DIS

DKNG

NKE

PARA

Tiger Woods returns to the PGA Tour at the Genesis Invitational after ending his partnership with Nike and launching a new apparel brand, Sun Day Red. The event, where Woods has historically struggled but is a longshot favorite, will be broadcasted by The Walt Disney Company, Paramount Global, and Comcast Corporation. Betting odds from DraftKings show Woods as a longshot to win, with various payouts for different finishes.

Portfolio Pulse from Chris Katje

February 14, 2024 | 8:22 pm

BIIB

ESALY

NVS

Biogen Inc (NASDAQ:BIIB) reported Q4 2023 sales of $2.39 billion, missing estimates and showing a 6% Y/Y decline. Adjusted EPS also fell by 27%. The company's partner, Eisai Co Ltd (OTC:ESALY), faces delays with Leqembi's patient enrollment, impacting Biogen's stock growth. Baird analyst lowered Biogen's price target to $316 from $333 but maintained an Outperform rating. Competition in Spinal Muscular Atrophy treatments from Novartis AG (NYSE:NVS) and Roche's Genentech affects Biogen's Spinraza. Biogen may pursue $1B-$2B deals to fill revenue gaps, focusing on the CNS space.

Portfolio Pulse from Vandana Singh

February 14, 2024 | 8:11 pm

OKTA

Okta announced a collaboration with OpenAI to host a session on building identity automation using Okta Workflows and OpenAI. The event is scheduled for this Thursday.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 8:11 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has announced a collaboration with 'Dune: Part Two', introducing a unique Xbox Series S console and the 'world's first floating Xbox controller'. This exclusive set, inspired by the film, is available through a competition running from Feb. 13 to March 25, 2024. The collaboration also includes the 'Dune' expansion on Microsoft Flight Simulator, allowing exploration of Arrakis. Microsoft is known for its innovative controller designs, with past creations including 'Sonic the Hedgehog'-themed gamepads and an edible controller.

Portfolio Pulse from Franca Quarneti

February 14, 2024 | 8:00 pm

MIMO

The Division of Naval Surface Warfare Center has announced its intention to procure hardware manufactured by Airspan Networks. This procurement indicates a strategic move towards enhancing the naval division's technological capabilities, potentially involving MIMO technology, which is known for improving wireless communication efficiency.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 7:32 pm

HITI

NVACF

High Tide Inc. (HITI) has signed an agreement with the Manitoba Liquor and Lotteries Corporation to distribute cannabis products in Manitoba through its subsidiary Valiant Distribution Canada. This deal enhances High Tide's distribution capabilities in Canada, adding to its presence in Saskatchewan, the United States, and Europe. High Tide, recognized by ATB Capital Markets as one of the top cannabis retailers in North America, continues to expand its footprint. The company's strategic expansion and positive financial indicators, such as generating positive free cash flow and trading at low multiples, position it as a leader in the cannabis retail sector.

Portfolio Pulse from Jelena Martinovic

February 14, 2024 | 7:02 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is expanding its global footprint by seeking partnerships in Saudi Arabia and the UAE, aligning with China's initiative to strengthen Gulf relations. This strategic move aims to help Alibaba recover from recent regulatory challenges and strategic missteps in China. The company's recent financial performance showed a slight miss in revenue and adjusted earnings expectations. Meanwhile, PDD Holdings Inc (NASDAQ:PDD) is mentioned as a domestic competitor, having experienced a significant stock price increase last year, contrasting Alibaba's decline.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 6:43 pm

C

Citigroup, Inc. (NYSE:C) has completed a proof of concept for the tokenization of private funds, in collaboration with Wellington Management and WisdomTree, demonstrating potential operational efficiencies through smart-contract capabilities. This innovation could enable enhanced rule enforcement and workflow integration in financial transactions. The experiment also involved simulated scenarios with DTCC Digital Assets. Citigroup's shares rose by 1.93% to $53.78 following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

February 14, 2024 | 6:33 pm