Streetbeat News

Partnerships

MSFT

OpenAI's CEO, Sam Altman, proposed the UAE as a 'regulatory sandbox' for AI technologies at the World Governments Summit. He emphasized the need for global AI policy and highlighted the UAE's strategic position. Altman's discussions also aim to support a semiconductor initiative to advance AI technology. OpenAI plans to make some AI models public and develop tools for economically disadvantaged nations. OpenAI's revenue is $2 billion, expected to double by 2025. Microsoft invested $10 billion in OpenAI in 2023.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 1:08 pm

PHAT

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) announced that its VOQUEZNA tablets for Erosive GERD and associated heartburn have been added to Express Scripts' national formularies for commercial plans, effective immediately. VOQUEZNA is the first FDA-approved potassium-competitive acid blocker and a new class of treatment for Erosive GERD in the U.S. in over 30 years. This inclusion is expected to provide access to approximately 60 million covered lives in the U.S. Phathom is also engaging with other major PBMs and health plans to expand coverage and offers co-pay assistance for eligible patients.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:07 pm

LOCO

SFIX

El Pollo Loco Holdings, Inc. (NASDAQ:LOCO) has announced the appointment of Liz Williams as its new CEO and Board member, effective March 11, 2024. Williams, with extensive experience in leading high-growth businesses, succeeds Maria Hollandsworth, who becomes President and COO. Williams' background includes roles at Outfox Hospitality, Foxtrot, Dom's Kitchen and Market, Drybar, and Taco Bell. Her appointment is seen as a strategic move to leverage her experience for El Pollo Loco's growth.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:04 pm

WKSP

Worksport Ltd. (NASDAQ:WKSP) has completed production of its first 1,100 AL3PRO Hard Folding Tonneau Covers, compatible with trucks from Ford, General Motors, Stellantis, Nissan, and Toyota. These covers, made in the USA with over 90% domestically sourced materials, are now available for sale and will soon be offered on major sales platforms like Walmart, Amazon, and eBay. The company is also working on expanding its product line to include the Honda Ridgeline and is developing innovative truck accessories like the SOLIS Solar Cover and the COR Battery System.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:01 pm

PSX

Phillips 66 (NYSE:PSX) has appointed Robert W. Pease to its Board of Directors, effective immediately, expanding the board to 14 directors, with 12 being independent. This decision follows a constructive dialogue with Elliott Investment Management L.P., with whom Phillips 66 has also agreed to identify a second mutually agreed director in the coming months.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 12:52 pm

FANG

VGAS

Verde Clean Fuels, Inc. (VGAS) and Cottonmouth Ventures LLC, a subsidiary of Diamondback Energy (FANG), have entered into a Joint Development Agreement for a proposed facility in the Permian Basin. This facility aims to produce commodity-grade gasoline using natural gas feedstock from Diamondback's operations.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 12:35 pm

CI

Cigna Healthcare and HelloFresh have entered into an exclusive partnership to provide up to 12 million Cigna Healthcare customers with discounted access to HelloFresh meals via their employers. This collaboration aims to enhance the health and wellness offerings available to Cigna's customers.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 12:24 pm

CSX

WAB

Wabtec and CSX have extended their agreement to modernize over 200 AC4400 locomotives in CSX's fleet from 2024 to 2028, aiming to improve fuel efficiency, reliability, utilization, and tractive effort. This is in addition to the 260 locomotives previously ordered for modernization by CSX, most of which have been delivered. Financial details of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 12:19 pm

STLA

TSLA

Stellantis NV (NYSE:STLA) announced it will adopt Tesla Inc's (NASDAQ:TSLA) North American Charging Standard (NACS) for select electric vehicles in North America starting in 2025. This makes Stellantis the last major automaker to adopt Tesla's charging standard. Until the new standard is deployed, Stellantis will provide adapters for vehicles with CCS ports to use Tesla's supercharger network. Tesla's superchargers can recharge up to 200 miles in 15 minutes, and by the end of December, Tesla had commitments from 28 automakers to adopt NACS.

Portfolio Pulse from Anan Ashraf

February 13, 2024 | 11:22 am

RTX

Pratt & Whitney, a business unit of RTX, announced the opening of a new India Digital Capability Center in Bengaluru, India. This strategic move aims to enhance their digital capabilities and support services in the region.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 11:09 am