Streetbeat News

Partnerships

NBR

SLB

SLB (formerly Schlumberger) and Nabors Industries Ltd. (NBR) have announced a collaboration. The details of the collaboration, such as its nature, terms, and expected impact on both companies' operations or financials, are not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:04 pm

OPI

RELL

SPEC

Spectaire (SPEC) has signed a distribution agreement with MLab and Mosolf to distribute its AireCore Emissions System in Europe, causing its stock to rise by 70%. Office Properties Income Trust (OPI) saw its shares drop by 17% after announcing a reduction in its quarterly dividend to $0.01 per share. Richardson Electronics (RELL) experienced a 14% decline in its stock price after reporting a Q2 EPS of $(0.13), missing the $0.01 estimate, and sales of $44.13M, which fell short of the $52.00M estimate.

Portfolio Pulse from ryanfaloona@benzinga.com

January 11, 2024 | 1:47 pm

RWAY

Runway Growth Finance Corp. (RWAY) reported Q4 2023 portfolio updates, with eight investments totaling $154.6M in funded loans and other investments. Investments included new and existing portfolio companies, such as Blueshift Labs, Linxup, Betterment, Synack, Bombora, Route 92 Medical, Snagajob, and Gynesonics. The company also experienced two prepayments totaling $61.7M. The CEO highlighted strong momentum and opportunities for 2024, especially in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:46 pm

AREC

American Resources Corporation has signed a Memorandum of Understanding (MoU) with Duesenfeld to receive regular deliveries of high-quality LFP (lithium iron phosphate) black mass, Duesenfeld Black®, which ReElement, a division of American Resources, will refine into battery-grade products. Duesenfeld's technology is recognized for its sustainable processing of end-of-life lithium-ion batteries.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:46 pm

BTM

Bitcoin Depot (NASDAQ:BTM), a leading Bitcoin ATM operator, has announced the hiring of 13 new sales representatives across the U.S., including Hawaii and Puerto Rico. This move is part of the company's aggressive expansion strategy for 2024, aiming to significantly increase the number of Bitcoin Depot kiosk locations and set a new record for installed BTMs by the end of 2024. The new hires are expected to secure 100-200 new kiosk locations monthly and will contribute to Bitcoin Depot's growth and partnerships with regional and national retailers.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:45 pm

GMM

Global Mofy Metaverse Limited (NASDAQ:GMM), a provider of technology solutions for the metaverse industry, has announced a strategic investment in MERAEDU, a vocational education platform. The RMB 8 million funding round was led by the Anji County Government Industrial Guidance Fund, with Global Mofy Metaverse participating as a co-investor. MERAEDU, established in 2023, offers professional courses in various fields and has enrolled nearly 20,000 students. The investment aims to combine Global Mofy's virtual content creation technology with MERAEDU's educational expertise to innovate in the vocational education sector. The vocational education market in China is rapidly growing, with a projected market size of over RMB 900 billion in 2023. The partnership intends to enhance the quality of training content and explore educational technology innovations.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:43 pm

META

The Chan Zuckerberg Initiative (CZI) is shifting its focus to become a 'science-first philanthropy,' as reported by Business Insider. This strategic pivot will see CZI investing the majority of its resources into scientific research, integrating its Biohub Network with CZI for efficiency. The organization's first COO, Josué Estrada, is set to leave in March, with Marc Malandro, VP of operations for science, taking over. This move follows layoffs in CZI's education segment and the discontinuation of its education policy grants portfolio, reflecting a similar 'year of efficiency' campaign by Meta Platforms Inc. (NASDAQ:META).

Portfolio Pulse from Rounak Jain

January 11, 2024 | 1:39 pm

BLIN

Bridgeline Digital, Inc.'s HawkSearch technology has been chosen by Nail Gun Depot to provide an AI-powered search bar for their website. The technology will enhance the customer shopping experience by displaying promotional content through keyword-triggered campaigns and categorizing products based on user ratings in relation to search terms.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:39 pm

GP

GreenPower Motor Company Inc. has delivered 10 EV Star Cab and Chassis to a global retailer's Canadian unit for last and middle-mile home deliveries in the Toronto area. The vehicles, financed by a Canadian leasing company, are zero-emission electric vehicles with a 7,000-pound capacity and 150-mile range. GreenPower also delivered various other electric vehicles during the quarter, including school buses and transit buses, and has over 100 EV Star Cab and Chassis ready for delayed delivery. Lion Truck Body, a GreenPower subsidiary, delivered 40 truck bodies in the same quarter.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:37 pm

ADEA

Adeia Inc. (NASDAQ:ADEA) has announced the renewal of its media IP license agreement with Funai Electric Co., Ltd., a manufacturer of connected TVs and related devices. This renewal signifies Funai's commitment to enhancing consumer electronics with Adeia's foundational technologies that enable users to search and enjoy content on connected devices.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:35 pm