Streetbeat News

Partnerships

PBI

Pitney Bowes has reached a cooperation agreement with Hestia Capital. Mary Guilfoile will retire from her role as Chair and from the Board after the 2024 Annual Meeting. The Board will elect a new Chair post-retirement. Pitney Bowes also announced the addition of two independent board members, William S. Simon and Jill Sutton, effective February 1, 2024. The next permanent CEO of Pitney Bowes will join the Board as its tenth member.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:51 pm

SPHR

Sphere Entertainment's Las Vegas Sphere venue gained attention with U2 concerts and viral ads. It's set to benefit from Super Bowl LVIII with ad rates up to $2M for the week. Dead & Company, featuring Grateful Dead members, confirmed potential shows at the Sphere. Sphere Entertainment reported Q1 revenue of $118M, down 4% YoY, with $7.8M from the Sphere. The second quarter will include U2 concert revenue and Super Bowl ad earnings. SPHR shares were up 0.6% to $35.38.

Portfolio Pulse from Chris Katje

January 31, 2024 | 10:41 pm

G

Genpact has entered into a multi-year engagement with Advantage Solutions to develop a custom digital platform for automating back-office processes such as order-to-cash services, contract management, and more. The platform aims to improve speed and accuracy in client support services. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:35 pm

USDTUSD

Tether (CRYPTO: USDT) reported a Q4 profit of $2.85 billion, contributing to an annual profit of $6.2 billion. The profit includes $1 billion from U.S. T-bill interests and $1.85 billion from gold and Bitcoin holdings. Tether's assets under management are $98.5 billion, with a market cap increase from $91.7 billion to $96.2 billion over the past month. The company is expanding into Bitcoin mining and other sectors, with plans to build mining facilities in Uruguay, Paraguay, and El Salvador. Tether's transparency efforts and asset backing have been acknowledged by Cantor Fitzgerald CEO Howard Lutnick.

Portfolio Pulse from Khyathi Dalal

January 31, 2024 | 9:58 pm

AAPL

QCOM

Qualcomm has extended its licensing agreement with Apple until March 2027, ensuring a continued partnership between the two tech giants for the next several years.

Portfolio Pulse from Charles Gross

January 31, 2024 | 9:54 pm

BTBT

Bit Digital has finalized an agreement to secure an additional 6 megawatts of hosting capacity for its cryptocurrency miners at a facility in Massena, New York, operated by a subsidiary of Coinmint LLC. This expansion brings Bit Digital's total contracted hosting capacity with Coinmint to around 46 megawatts.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:32 pm

PTGX

Protagonist Therapeutics' stock is up following the announcement of a global license and collaboration agreement with Takeda for the development and commercialization of rusfertide.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:29 pm

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

GM

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