Streetbeat News

Partnerships

PTGX

TAK

Takeda and Protagonist Therapeutics have entered into a global license and collaboration agreement for Rusfertide. Takeda will make an upfront payment of $300 million at the closing of the deal.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:08 pm

AAPL

AMZN

DIS

FWONA

FWONK

Formula One, under Liberty Formula One Group (FWONA, FWONK), rejected a bid by Michael Andretti and General Motors (GM) to add an all-American team. The proposal included using Renault engines, but Formula One suggested Andretti could join in 2028 with GM engines. This decision may affect U.S. growth and ESPN's media rights, owned by Disney (DIS), which recently renewed U.S. rights for $75-90 million annually. Amazon (AMZN) and Apple (AAPL) showed interest in F1 media rights, with Apple rumored to be willing to pay $2 billion annually for global rights.

Portfolio Pulse from Chris Katje

January 31, 2024 | 8:19 pm

DKNG

DraftKings Inc (NASDAQ:DKNG) has announced a partnership with NBA superstar LeBron James, who will serve as a talent ambassador sharing NFL picks and content. This move comes without financial terms being disclosed and follows a previous partnership with Michael Jordan, who also has an equity stake in the company. The deal aims to leverage James' significant social media following to boost brand awareness and attract new customers. However, sports reporter Darren Rovell expressed skepticism about the deal's potential success. DraftKings shares were trading down 2.04% at $39.47 on Wednesday.

Portfolio Pulse from Chris Katje

January 31, 2024 | 8:18 pm

ECL

TSLA

Ford Motor Company (NYSE:F) is offering eligible Mustang MachE and F150 Lightning owners a free Tesla (NASDAQ:TSLA) charger adapter for use at Tesla Superchargers in the U.S. and Canada. This initiative is part of Ford's commitment to enhance EV charging convenience and will precede Ford's transition to the NACS charge port in 2025. Additionally, Ecolab Inc. (NYSE:ECL) has agreed to purchase over 1,000 Ford electric vehicles. Ford's stock price rose by 1.1% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 6:51 pm

NVDA

SSNLF

Nvidia Corp (NASDAQ:NVDA) partners with Singapore Telecommunications to integrate AI capabilities into Southeast Asian data centers. Singtel will offer access to Nvidia's GPUs, enhancing AI services for clients. Nvidia, facing U.S. sanctions in China, is expanding globally and is in talks with SK Hynix and Samsung Electronics (OTC:SSNLF) for HBM supply. Analysts see a $1 trillion AI opportunity for Nvidia. Singtel aims for net-zero emissions by 2028 and is expanding in Southeast Asia and Japan. NVDA shares fell 2.07% to $614.81.

Portfolio Pulse from Anusuya Lahiri

January 31, 2024 | 6:46 pm

OMVKY

TTE

TotalEnergies SE (NYSE:TTE) has agreed to purchase a 50% stake in SapuraOMV Upstream Sdn from OMV AG (OTCPK: OMVKY) for $903 million, which includes the transfer of a $350 million loan. The assets are located offshore Sarawak in Malaysia, and the deal is expected to close by the end of the first half of 2024. This acquisition aligns with TotalEnergies' strategy to grow in Malaysia and strengthen its partnership with Petronas, while also contributing to the demand for gas in Asia. Additionally, TotalEnergies recently won a contract to supply 1.34 GW of renewable electricity to New Jersey.

Portfolio Pulse from Lekha Gupta

January 31, 2024 | 5:29 pm

JAZZ

Cannatrek, an Australian plant-based medicine company, has signed an MoU with Mie University in Japan to research medical marijuana. This follows Japan's legalization of medical cannabis products. Jazz Pharmaceuticals (NASDAQ:JAZZ), which acquired GW Pharmaceuticals in 2021, has Epidiolex in its portfolio, a CBD medicine approved in the US and Europe for severe epilepsy. The MoU covers agronomic research, training, pharmaceutical supply chain, e-healthcare, regulation, and expert collaboration.

Portfolio Pulse from Nina Zdinjak

January 31, 2024 | 4:50 pm

MNTS

Momentus Inc. has announced the completion of all requirements under its National Security Agreement (NSA), leading to the termination of the NSA by the Committee on Foreign Investment in the United States (CFIUS). This marks a significant step for the company, potentially removing a major regulatory hurdle that could have impacted its operations and partnerships.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:28 pm

SINT

SiNtx Technologies, Inc. (NASDAQ:SINT) experienced volatility after announcing a cooperative research and development agreement with the U.S. Army and a $4 million stock offering. The agreement focuses on ceramic additive manufacturing and ceramic matrix composites. The stock offering is priced at 25 cents per share for 16 million units, with expected gross proceeds of $4 million, closing on Feb. 2. SINT shares dropped 19.9% to around 19 cents.

Portfolio Pulse from Erica Kollmann

January 31, 2024 | 4:03 pm

MARK

MSFT

Remark Holdings Inc (MARK) shares dropped after an initial surge due to a partnership with Microsoft (MSFT). The partnership involves Remark's AI business unit consuming $80 million of Microsoft Azure cloud services over five years. Microsoft will provide Remark with $2 million in Azure credits and about $700,000 in consulting and migration credits. Remark's CEO clarified that the deal's revenue projections could exceed $240 million, which would cover the cloud services consumption agreement. Despite the partnership, MARK shares fell by 40.9% to 73 cents after the details were released.

Portfolio Pulse from Adam Eckert

January 31, 2024 | 3:47 pm