Streetbeat News

Partnerships

RIO

Rio Tinto (LSE: RIO) is set to initiate the world's largest mining project in Guinea's Simandou mountains, overcoming decades of challenges. The project includes two iron mines, a 400-mile rail system, and a port, with an initial investment of $6.2 billion. Partners include Chalco Iron Ore Holdings and China Baowu Steel Group. The high-grade iron ore from Simandou is crucial for cleaner steelmaking processes, aligning with global climate change goals. Production is expected to start in 2025 with an annual capacity of 60 million tons, Rio Tinto's share being about 27 million tons.

Portfolio Pulse from Stjepan Kalinic

January 08, 2024 | 8:54 pm

MBLY

Mobileye Global Inc. (NASDAQ:MBLY) shares rose on Monday after announcing production design wins from a major Western automaker for automated driving solutions in 17 vehicle models. The technology will be featured in both internal combustion and electric vehicles, with a rollout expected in 2026. Mobileye's CEO highlighted the milestone in automated driving development. Despite a tough previous week and a sell-off after preliminary 2023 financial results and 2024 guidance, the stock was up 2.95% at $31.39. Raymond James analyst Brian Gesuale maintained an Outperform rating but lowered the price target from $48 to $40.

Portfolio Pulse from Ryan Gustafson

January 08, 2024 | 8:48 pm

F

GM

PCRFY

TSLA

Panasonic has reaffirmed its plans to build a third electric vehicle (EV) battery plant in the United States, according to a Nikkei report. This move is part of Panasonic's strategy to meet the growing demand for EV batteries, particularly from major automakers in the U.S. market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:22 pm

HMC

Honda (HMC) is set to meet with the Canadian federal government this week amid reports of a potential deal to establish an electric vehicle (EV) plant. The meeting and emerging reports suggest that Honda may be expanding its EV production capabilities in Canada, which could signal a significant investment in the country's automotive sector and a commitment to the EV market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:09 pm

AMZN

GETY

LI

NVDA

At CES 2024, NVIDIA Corp (NASDAQ:NVDA) showcased new products and partnerships, including the Avatar Cloud Engine (ACE), GeForce RTX 40 Super Series GPUs, and collaborations with Getty Images, Tencent, and others. NVIDIA's stock reached all-time highs, reflecting its strong performance and market capitalization of $1 trillion. The company also announced its involvement in the automotive sector with Li Auto (NASDAQ:LI) using NVIDIA DRIVE Thor, and enhanced broadcasting features for Twitch, owned by Amazon.com, Inc. (NASDAQ:AMZN). Getty Images Holdings (NYSE:GETY) is utilizing NVIDIA Picasso for its iStock generative AI service.

Portfolio Pulse from Chris Katje

January 08, 2024 | 6:46 pm

NYT

OpenAI has responded to a lawsuit from The New York Times, stating that the suit lacks merit. The company emphasizes its ongoing efforts to make its systems more resistant to adversarial attacks that could cause the regurgitation of training data. Despite the legal challenge, OpenAI remains optimistic about forming a constructive partnership with The New York Times.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:08 pm

ATEC

Alphatec Holdings' stock is trading higher following the company's announcement of preliminary Q4 and FY23 revenue guidance that exceeded expectations. Additionally, Alphatec has entered into a strategic partnership with Aclarion to further the commercialization of Nociscan.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:43 pm

MBLY

Mobileye's stock is trading higher following the announcement of winning a series of production design contracts from a significant Western automaker.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:42 pm

GOLF

MODG

NKE

ONON

Tiger Woods has ended his 25-year sponsorship with Nike Inc (NKE), causing speculation about his next partnership. Rumors of Woods joining On Holding Ag (ONON) led to an 8% stock increase, which fell 4% after the company denied the rumors. Shares of Topgolf Callaway Brands Corp (MODG) and Acushnet Holdings Corp (GOLF) rose amid speculation that Woods might sign with them. The new deal is expected to be costly due to Woods' popularity in golf.

Portfolio Pulse from Aaron Bry

January 08, 2024 | 5:15 pm

JNJ

Predicine, Inc. has announced a collaboration with Janssen Pharmaceutica NV, a Johnson & Johnson company, to develop PredicineCARE™, a urine cfDNA NGS assay, as a companion diagnostic tool for localized bladder cancer. The assay, which received FDA Breakthrough Device Designation, aims to identify patients who may benefit from targeted therapy by detecting genomic alterations in key cancer-associated genes.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:08 pm