Streetbeat News

Partnerships

HSY

PFGC

Performance Food Group (PFGC) has partnered with The Hershey Company (HSY) to feature Hershey's iconic chocolate brands in its premium dessert line. This collaboration is expected to enhance PFGC's dessert offerings by incorporating well-known Hershey's chocolate products.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 6:07 pm

GILD

HOOK

MRK

RHHBY

Roche Holdings AG (OTC:RHHBY) has terminated its collaboration with HOOKIPA Pharma Inc (NASDAQ:HOOK) on the HB-700 program for KRAS mutated cancers. HOOKIPA will regain full control of the program in April 2024 and plans to submit an IND in Q1 2024, seeking a new partner. HOOKIPA is refocusing on its HB-200 program for HPV16+ HNSCC and infectious disease programs with Gilead Sciences Inc (NASDAQ:GILD). The company will reduce its workforce by 30% and rebalance costs. HOOKIPA's cash position was $117.5 million as of December 31, 2023, bolstered by Gilead's purchase of 15 million shares in December. HOOKIPA's stock price dropped 15% to $0.59.

Portfolio Pulse from Vandana Singh

January 29, 2024 | 5:55 pm

LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares are experiencing a significant increase on heavy trading volume, despite a 25% decline over the past month. The movement comes ahead of Lucid's Q4 financial results expected on Feb. 21, with an anticipated loss of 29 cents per share and revenue of $179.881 million. The stock's activity may also be influenced by a high short interest of 21.97% and a recent partnership between Lucid's majority owner, Saudi Arabia's Public Investment Fund, and Formula E. Meanwhile, Tesla, Inc. (NASDAQ:TSLA) reported Q4 earnings below analyst estimates, affecting other EV stocks.

Portfolio Pulse from Erica Kollmann

January 29, 2024 | 5:34 pm

FXI

SPY

U.S. lawmakers have requested the Biden Administration to impose export restrictions on four Chinese companies involved in Ford Motor's planned battery plant in Michigan. This could potentially affect the progress of the plant and Ford's electric vehicle strategy.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:16 pm

NCMI

National CineMedia (NCMI) has entered into a five-year exclusive agreement with Santikos Enterprises. The financial terms of the deal have not been disclosed. This partnership could potentially influence NCMI's advertising reach and revenue streams.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:06 pm

NFLX

Netflix Inc (NASDAQ:NFLX) has seen a 16% rise in stock price in 2024 and a 64% increase in 2023, despite challenges like subscription fatigue and competition. Disney's decision to license more TV shows to Netflix is a significant boost to its content library. Netflix has been investing heavily in content, with expenditures over $17 billion, and has introduced measures like cost-cutting, addressing password sharing, and ad-supported tiers to improve profitability. The company's debt exceeds $14 billion, but operating margin is expected to increase to 24%. Post-earnings, the stock opened 9% higher, despite Q4 earnings falling short, indicating investor confidence. Netflix's stock closed at $570.42 on January 26, up by 1.52%.

Portfolio Pulse from Zaheer Anwari

January 29, 2024 | 4:17 pm

BLK

BTCUSD

Harvest Fund has applied for the first Bitcoin spot ETF in Hong Kong, indicating growing acceptance of cryptocurrencies in financial markets. This follows the SEC's approval of Bitcoin spot ETFs in the U.S. The approval could attract more investors, including those from China, where the stock market underperformed in 2023. Anndy Lian suggests this could lead to more Chinese investment in crypto. The SFC aims to list the ETF on the Hong Kong Stock Exchange after the Chinese New Year, potentially allowing direct Bitcoin subscriptions.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 4:03 pm

MSFT

NSIT

Insight Enterprises has signed a multibillion dollar global strategic partnership framework agreement with Microsoft to drive digital transformation using Microsoft cloud technologies. The financial terms of the agreement were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 3:46 pm

BLKB

The University of Nebraska Foundation has renewed its partnership with Blackbaud for five years. This renewal signifies continued trust in Blackbaud's services for managing the foundation's philanthropic operations and engagement with donors. The extended collaboration is expected to support the foundation's mission through advanced technology solutions provided by Blackbaud.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 3:07 pm

VUZI

Vuzix, a company specializing in augmented reality (AR) technology, has announced the establishment of an Ophthalmic Advisory Board. Dr. Shabbir Khambati, an ophthalmologist, has been appointed as a founding member of this new board. The creation of the board is aimed at enhancing the company's focus on AR applications within the ophthalmic field.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 3:01 pm