Streetbeat News

Partnerships

DAL

FLXS

WIT

Wipro Limited (NYSE:WIT) shares surged over 16% after reporting Q3 results, guidance, and an interim dividend. Other stocks showed significant movement in Friday's mid-day session, with various gainers such as Charge Enterprises, Inc. (NASDAQ:CRGE) and losers like Genius Group Limited (NYSE:GNS). Notable movements included Flexsteel Industries, Inc. (NASDAQ:FLXS) rising after strong Q2 preliminary results and Delta Air Lines, Inc. (NYSE:DAL) falling post Q4 financial results and 2024 guidance.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 6:28 pm

MNTS

Momentus Inc. (NASDAQ:MNTS) shares dropped after the company was not selected for the Tranche 2 Tracking Layer funding by the Space Development Agency. The company expressed substantial doubt about its ability to continue as a going concern, following a 20% reduction in workforce and a significant decrease in cash from $62 million to $10 million year-over-year. Despite discussions with potential strategic partners, no definitive agreements have been reached. Momentus is seeking capital to bridge to profitable commercial production, without which operations may be further reduced or stopped. MNTS shares fell 18.43% to $1.01.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 5:53 pm

PLTR

Palantir Technologies Inc. (NYSE:PLTR) has partnered with the Israeli Defense Ministry to provide technology for military operations. The collaboration was confirmed by Palantir's Executive Vice President Josh Harris. Specifics of the technology to be supplied were not disclosed. Palantir's AIP, introduced last year, could be part of the technology support. The partnership is expected to significantly aid the Israeli Ministry of Defense. Palantir's co-founder Alex Karp expressed that their products are in high demand and defended the military campaign, despite some internal resistance.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 4:17 pm

CVS

TGT

WBA

CVS Health Corp is closing some of its pharmacies within Target stores due to shifts in market dynamics, consumer behavior, and health needs. The closures will start in February and end by April. Prescriptions will be transferred to nearby CVS locations. This is part of a broader industry trend of cost-cutting by U.S. pharmacy chains. CVS acquired Target's pharmacies in 2015 and recently introduced CVS 'CostVantage' for transparent drug cost reimbursement. Blue Shield of California will stop using CVS Caremark for drug benefits administration, except for specialty drugs. CVS shares fell 3.45% to $76.21.

Portfolio Pulse from Vandana Singh

January 12, 2024 | 3:27 pm

GEF

Greif, Inc. has entered into a pilot-project partnership with IonKraft to address recyclability and sustainability issues in plastic jerrycan packaging. The partnership focuses on developing a barrier solution to enhance the environmental friendliness of these containers.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:02 pm

601899.SS

LUG.TO

Zijin Mining Group is investing $97 million in Solaris Resources to advance its Warintza copper project in Ecuador. Zijin will purchase 28.5 million shares at a 14% premium, becoming the second-largest shareholder with about 15% ownership. The investment will help Solaris leverage Zijin's expertise and financial capacity. Despite security concerns in Ecuador, mining operations continue with enhanced measures, and no foreign companies have left the country.

Portfolio Pulse from Stjepan Kalinic

January 12, 2024 | 2:59 pm

AUVI

Applied UV, Inc. (NASDAQ:AUVI) shares surged after announcing the launch of its Fighter Flex LED solution for HVAC systems at the AHR Expo on January 22nd. The company is finalizing distribution agreements with major smart-building technology brands. The new solution is expected to offer significant energy savings and maintenance benefits. Last month, AUVI also announced a collaboration with Silver Cross Hospital for implementing Far-UVC Puro Protect 222nm fixtures.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 2:43 pm

FXLV

LULU

NKE

PLNT

PTON

The article discusses the trend of partnering up for fitness in 2024, highlighting the potential investment opportunities in fitness-related companies. Gym memberships are on the rise, benefiting Planet Fitness (NYSE:PLNT), which promotes workouts with a gym buddy. F45 Training (OTC:FXLV) offers community training classes. Peloton Interactive (NASDAQ:PTON) has partnered with TikTok for custom content, causing its shares to jump despite its low valuation. Nike (NYSE:NKE) and Lululemon Athletica (NASDAQ:LULU) provide athletic apparel, with Nike's shares potentially at a good value and Lululemon's shares falling after a strong 2023. Under Armour (NYSE:UA) offers hiking and waterproof gear, with its shares possibly undervalued.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 2:00 pm

LUXH

LuxUrban Hotels announced that The Royalton by LuxUrban, part of the Trademark Collection by Wyndham, will start receiving guests in January. This news indicates the expansion of LuxUrban Hotels' operations and its partnership with Wyndham.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:05 pm

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla Inc (NASDAQ:TSLA) investor, criticized the potential integration of Elon Musk's Grok AI into Tesla vehicles. He believes it's a conflict of interest for Tesla shareholders if they don't own the AI OS on Tesla cars, suggesting instead that Tesla should develop its own Large Language Model (LLM) using its resources and AI team. Musk has previously hinted at a partnership between Tesla and his AI startup, xAI, to integrate Grok AI into Tesla cars.

Portfolio Pulse from Anan Ashraf

January 12, 2024 | 12:23 pm