Streetbeat News

Partnerships

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

STTK

Shattuck Labs has entered into a drug discovery collaboration with Ono Pharmaceutical to develop bifunctional fusion proteins for autoimmune and inflammatory diseases. Shattuck will receive an upfront payment and is eligible for milestone payments totaling up to $227 million.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 11:04 am

CDNS

DASTF

NVDA

Cadence Design Systems Inc (NASDAQ:CDNS) reported Q4 FY23 results with revenue of $1.069 billion, surpassing consensus estimates. Adjusted EPS was $1.38, also above expectations. The company's year-end backlog was $6.0 billion, with $3.2 billion in current remaining performance obligations. However, its Q1 FY24 revenue outlook of $990 million-$1.01 billion and adjusted EPS of $1.10-$1.14 fell short of consensus estimates, leading to a 6.46% premarket drop in shares. Cadence also announced an expanded partnership with NVIDIA Corp (NASDAQ:NVDA) and Dassault Systèmes (OTC:DASTF).

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 10:41 am

BYDDY

China's leading battery and car manufacturers, including BYD Co Ltd (OTC:BYDDY) and CATL, have formed the China All-Solid-State Battery Collaborative Innovation Platform (CASIP) to develop solid-state batteries for electric vehicles (EVs). This initiative aims to establish a solid-state battery supply chain by 2030, challenging the dominance of Japanese and Western companies in the EV market. The move is significant amid a U.S. ban on Pentagon battery procurements from Chinese manufacturers, set to commence in October 2027.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 9:52 am

CRWD

CrowdStrike (NASDAQ:CRWD) has partnered with Ignition Technology to distribute its AI-native CrowdStrike XDR Falcon platform in the UK, aiming to meet the rising cybersecurity demand through Ignition's extensive partner network.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:06 am