Streetbeat News

Partnerships

WDC

Kioxia Corporation and Western Digital Corporation (NASDAQ:WDC) have been approved to receive up to 150 billion yen in subsidies for their Yokkaichi and Kitakami plants. This subsidy, aimed at boosting semiconductor production in Japan, will support the production of advanced 3D flash memory. This is the second time their joint venture has received such support, following a 92.9 billion yen subsidy in 2022.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:06 am

ACIW

ACI Worldwide (NASDAQ:ACIW), a leading provider of real-time payments software, has been selected by Nepal Clearing House to develop the National Payment Switch, including a card payment central infrastructure and a domestic card scheme named NEPALPAY. This initiative, under the guidance of Nepal Rastra Bank, aims to enhance card-based transaction interoperability in Nepal.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:01 am

COTY

Coty (NYSE:COTY) has entered into a long-term licensing agreement with Italian luxury fashion brand Marni to develop, produce, and distribute fragrances and beauty products beyond 2040. This partnership aims to strengthen Coty's position in the luxury fragrance market and reinforces its alliance with the OTB Group.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 6:45 am

PLTR

Palantir Technologies Inc's AI technology is being extensively used to support U.S. government objectives in the Middle East, particularly aiding Ukraine and Israel's defense efforts. During the Q4 earnings call, executives highlighted the deployment of Palantir's platforms like Gaia, Gotham Foundry, and AIP for various tactical and intelligence purposes. CEO Alex Karp emphasized Palantir's unique role in these operations. The company reported a 20% increase in Q4 revenue, surpassing estimates.

Portfolio Pulse from Navdeep Yadav

February 06, 2024 | 5:12 am

DIS

Brittney Griner, a WNBA All-Star and two-time Olympic Gold Medalist, was not selected for the US Women's Olympic Qualifying Roster despite participating in a training camp. Griner, who spent 10 months in a Russian prison before being released in December 2022, is partnering with Walt Disney Co to produce a documentary and other projects about her ordeal. The US Women's Basketball Team aims for an eighth consecutive Olympic gold medal.

Portfolio Pulse from Maureen Meehan

February 06, 2024 | 3:09 am

TSLA

Investors are being drawn to Elon Musk's AI venture, xAI, with a presentation highlighting its potential by leveraging Musk's network of companies and comparing its path to OpenAI's success. The presentation lists Tesla Inc. (TSLA) and X (formerly Twitter) as strategic partners, providing crucial training data for xAI. Despite Musk's denial of seeking up to $6 billion in funding, xAI has reportedly secured $500 million in financing, aiming for $1 billion in equity and a valuation between $15 billion and $20 billion.

Portfolio Pulse from Ananya Gairola

February 06, 2024 | 2:24 am

MSFT

NTDOY

SONY

Microsoft Corp. is reportedly considering releasing certain Xbox games, including Indiana Jones and the Great Circle and possibly Starfield, on Sony Group Corp.'s PS5. This potential shift to multi-platform gaming may also extend to Nintendo ADR's Switch. The strategy reflects Microsoft's broader aim to be a 'good publisher' across multiple platforms, following its acquisition of Activision Blizzard. The move could change the exclusivity dynamics of future titles like The Elder Scrolls 6.

Portfolio Pulse from Franca Quarneti

February 05, 2024 | 11:13 pm

DIS

Walt Disney Co (NYSE:DIS) is set to report Q1 financial results on Feb. 7, 2024, with expected revenue of $23.685 billion and EPS of 99 cents. Analysts highlight Disney's cost-cutting and strong cash flow growth guidance, particularly from the Experiences and DTC segments. Disney+ subscriber growth and battles with Elon Musk and Florida Gov. Ron DeSantis are key issues. Disney faces challenges from activist investor Nelson Peltz. DIS shares are down 0.49% to $96.65, with a 7% increase YTD in 2024.

Portfolio Pulse from Chris Katje

February 05, 2024 | 10:36 pm

BA

SPR

Spirit AeroSystems notified Boeing of a non-conformity found by an employee, which, after engineering review, was determined not to be a safety-of-flight issue. The review is ongoing, with a final disposition expected soon. Spirit will continue delivering fuselages with additional inspections and repairs as needed, maintaining normal production operations.

Portfolio Pulse from Charles Gross

February 05, 2024 | 10:06 pm

MOR

NVS

MorphoSys AG has entered into a Business Combination Agreement with Novartis for a takeover valued at €2.7 billion, or €68 per share in cash, representing a significant premium over recent share prices. This agreement also includes the sale of rights for tafasitamab to Incyte Corporation for US$25 million. Novartis aims to maximize the potential of pelabresib, a promising therapy in MorphoSys' pipeline, with its resources. The takeover offer is subject to customary closing conditions and regulatory approvals, expected to close in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:53 pm