Streetbeat News

Partnerships

AVAXUSD

The Avalanche Foundation has announced an initiative to integrate meme coins into its Culture Catalyst program, aiming to empower creators and accelerate blockchain adoption. The program, launched last year, supports creativity and culture through blockchain technology. The foundation will purchase select Avalanche-based meme coins to create a collection that reflects the cultural significance of these tokens. The selection criteria include the number of holders, liquidity, project maturity, fair launch principles, and social sentiment. This move is part of Avalanche's strategy to diversify its engagement and portfolio within the crypto asset landscape.

Portfolio Pulse from Murtuza Merchant

December 29, 2023 | 5:54 pm

AZN

MRNA

MYNZ

PFE

AstraZeneca PLC acquired Chinese cancer therapy developer Gracell Biotechnologies, focusing on expanding its oncology business. Pfizer Inc's shares fell but are expected to rebound as it enhances its cancer treatments, including the acquisition of Seagen and approval of a blood cancer therapy. Moderna Inc, in partnership with Merck, developed an experimental cancer vaccine showing promising results. Mainz Biomed reported high sensitivity and specificity for its colorectal cancer screening test, ColoAlert. The pharma industry is making significant strides in cancer treatment and prevention.

Portfolio Pulse from Upwallstreet

December 29, 2023 | 5:49 pm

GRFS

Grifols, S.A. (NASDAQ:GRFS) shares rose after announcing a strategic alliance and share purchase agreement with Haier Group Corp, involving the sale of a 20% equity stake in Shanghai RAAS for approximately $1.8 billion. The collaboration aims to combine Grifols' plasma and diagnostic expertise with Haier's healthcare solutions, focusing on China's healthcare system. The proceeds will be used to reduce Grifols' debt, and they will retain a 6.58% stake in SRAAS and a board seat. The agreement also extends their exclusive albumin distribution agreement in China for up to 20 years, with guaranteed supply volumes for the next five years. China's albumin demand is over 50% of the global consumption and is expected to grow, which could contribute to Grifols' growth into 2024. GRFS shares were up 9.74% to $11.55.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 4:25 pm

AMZN

PLUG

Amazon.com Inc (AMZN) is partnering with Plug Power Inc (PLUG) to produce hydrogen fuel at its fulfillment centers, starting with an electrolyzer installation in Aurora, Colorado. The electrolyzer will produce hydrogen to fuel forklift trucks, aligning with Amazon's goal to decarbonize operations by 2040. Despite using the power grid, which relies on fossil fuels, Amazon plans to transition to on-site renewable energy for green hydrogen production. The company has also expanded its electric vehicle fleet in India, aiming for 10,000 EVs by 2025. AMZN shares saw a slight increase.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 2:51 pm

CAT

HON

UBER

UPS

Analysts from Stifel, Goldman Sachs, RBC Capital, UBS, Oppenheimer, Roth MKM, JP Morgan, and Raymond James have provided updates on industrial stocks Caterpillar Inc. (CAT), Honeywell International Inc. (HON), Uber Technologies, Inc. (UBER), and United Parcel Service, Inc. (UPS). The updates include changes in price targets and ratings, reflecting various expectations for stock performance. Notably, Honeywell is acquiring Carrier Global’s Global Access Solutions for $4.95 billion, and Uber has partnered with Tesla to offer discounted electric cars to its drivers.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 1:52 pm

SSKN

Strata Skin Sciences (SSKN) has announced the expansion of its distribution agreement with Kosmo Meditech, aiming to enhance the distribution of its products. This strategic move is expected to increase market penetration and revenue growth for Strata Skin Sciences.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:01 pm

CLF

IBM

RSP

UBER

On CNBC's 'Halftime Report Final Trades,' analysts recommended IBM, RSP, CLF, and UBER. IBM acquired StreamSets and webMethods for €2.13 billion. RSP was picked by Bryn Talkington. CLF, previously interested in acquiring U.S. Steel, is refocusing on share buybacks. UBER reached a 52-week high and plans to enter Japan's taxi market with Tesla vehicles. IBM and RSP shares slightly gained, while CLF and UBER shares saw minor declines.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 1:01 pm

FRSX

Foresight Autonomous Holdings announced a collaboration with a major Chinese OEM specializing in electric vehicles (EVs), rechargeable batteries, and related products. This partnership could enhance Foresight's market position in the EV sector.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:17 pm

Chinese airlines have resumed operations of all Boeing Co (NYSE:BA) 737 MAX jets, ending a global grounding since 2019 due to two fatal crashes. Boeing China's CEO, Liu Qing, announced that around 100 737 MAX planes are back in service and new planes have been delivered to Chinese customers. The Civil Aviation Administration of China (CAAC) granted approval in December, allowing Boeing to restart 737 MAX deliveries in China after over four years. This marks a potential improvement in Boeing-China relations and is financially beneficial for Boeing as it can now reduce its inventory backlog.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 7:38 am

ALRM

Alarm.com Holdings, Inc. (NASDAQ:ALRM) shares rose in after-hours trading following the announcement of a resolution to its litigation with Vivint, which includes a long-term intellectual property license agreement. The stock has seen over a 20% increase since early November, partly due to strong third-quarter earnings. After-hours, ALRM shares were up 1.98% at $64.46.

Portfolio Pulse from Ryan Gustafson

December 28, 2023 | 11:29 pm