Streetbeat News

Partnerships

CRBP

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) shares rose over 35% to close at $25.16 on Tuesday and are trading higher in premarket on Wednesday. The company announced plans for an underwritten registered public offering of common stock or pre-funded warrants. The proceeds will fund clinical development and for general corporate purposes. Data from a clinical study of CRB-701 was presented at a symposium, and Point72 Capital Advisors disclosed an 8.8% passive stake in Corbus. Oppenheimer analyst Jeff Jones maintained an Outperform rating and raised the price target to $51 from $20.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 1:25 pm

GOOG

GOOGL

MARK

MINM

NVVE

PARA

REVB

SINT

Sintx Technologies, Inc. (SINT) shares surged over 39% in pre-market trading after announcing a Cooperative Research and Development agreement with the U.S. Army. Other stocks showed significant movement in pre-market trading, with Revelation Biosciences, Inc. (REVB) and Minim, Inc. (MINM) among the gainers, while Nuvve Holding Corp. (NVVE) and Remark Holdings, Inc. (MARK) were among the losers. Paramount Global (PARA) gained after a buyout offer, and Alphabet Inc. (GOOG, GOOGL) shares fell despite better-than-expected earnings due to lower advertising sales.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 1:17 pm

MARK

MSFT

Remark Holdings CEO announced that Microsoft's initial investment includes $700K in cash to assist with onboarding and migration fees, plus a $2M credit for Azure cloud services. The CEO suggests that with cloud services being about 30% of the cost of goods sold, the 5-year revenue projection from operations could exceed $240MM. This revenue would enable Remark Holdings to meet or surpass the $80MM cloud services consumption agreement with Microsoft.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:13 pm

CRSP

DOCN

SGRY

VOD

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' expressed his views on several stocks. He recommended avoiding Surgery Partners, Inc. (SGRY) due to the industry's volatility, despite the company reaffirming its 2023 EBITDA and revenue guidance. He was cautious about CRISPR Therapeutics AG (CRSP) because of their losses, even though the FDA approved their gene-edited cell therapy. Cramer has consistently disliked Vodafone Group (VOD) for 20 years, despite their new alliance with Microsoft. He was uncertain about DigitalOcean Holdings, Inc. (DOCN) due to its stock performance not reflecting its good business, and they have appointed a new CEO. Cramer believes it's not too late to buy Energy Transfer LP (ET), which recently increased its cash distribution. Lastly, he was neutral on MP Materials Corp. (MP), which experienced a slight stock decline.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 12:57 pm

SNAP

SPOT

Spotify has enhanced its partnership with Snapchat by introducing a new Snapchat sharing lens. This feature allows users to share their current music in a more interactive and engaging way on the Snapchat platform. The collaboration aims to leverage the popularity of Snapchat among younger audiences to increase user engagement on Spotify.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:57 pm

INTC

MSFT

Prophetic, a new startup, is developing an AI-powered headband named Halo, which is claimed to help control and stabilize lucid dreams using a 'closed-loop neurostimulation system'. The headband, priced at $2000, is currently open for beta tester registrations with a $100 deposit. The technology uses ultrasound, 3D spatial pulse controls, fMRI training data, and EEG sensors. Prophetic has received 2,926 registrations for beta testing. The relevance of this development is highlighted by the increasing focus on AI by companies like Microsoft (MSFT) and Intel (INTC), with Microsoft backing OpenAI and Intel betting on AI's potential.

Portfolio Pulse from Rounak Jain

January 31, 2024 | 12:31 pm

RKLB

SPIR

Rocket Lab USA, Inc. (RKLB) shares are trading lower in the premarket session despite the successful launch of its first Electron mission for 2024, which included a space-junk-focused mission for Spire Global, Inc. (SPIR) and NorthStar Earth & Space. The mission also marked a step towards reusability by returning the Electron rocket's first stage post-launch. CEO Peter Beck highlighted the mission's success and the company's record number of missions booked for 2024. Earlier in the month, Rocket Lab secured a $515 million contract with the Space Development Agency for 18 satellites, contributing to a backlog of over 40 satellites in development and production.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 12:29 pm

TIXT

TELUS International (NYSE: TIXT) has announced a partnership with Morpheus Data to enhance its hybrid cloud platform operations. The collaboration aims to simplify and make more agile the management of TELUS International's hybrid cloud environments, leveraging Morpheus Data's expertise in this area. This strategic move is expected to improve operational efficiencies and potentially lead to better service offerings for TELUS International's customers.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:57 am

FSR

Fisker Inc. held its first Open House event, welcoming dealers from across North America. During this event, Mills Auto Group was announced as Fisker's first US dealer partner. This partnership is a significant step for Fisker as it expands its retail presence in the United States.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:54 am

Ford Motor Co (NYSE:F) will supply over 1,000 F-150 Lightning and Mustang Mach-E electric vehicles to Ecolab as part of the latter's initiative to electrify its North American fleet by 2030. Ecolab aims to reduce costs and save approximately $1,400 in fuel per vehicle annually. Ford's electric truck and SUV will join Ecolab's predominantly Ford fleet, continuing a nearly 100-year partnership between the companies. In 2023, Ford's F-150 Lightning was the best-selling electric truck in America.

Portfolio Pulse from Anan Ashraf

January 31, 2024 | 10:45 am