Streetbeat News

Partnerships

DIS

ESPN and the NCAA have entered into a $920 million, eight-year media rights agreement for NCAA championships, starting Sept. 1, 2024. The deal covers 40 championships, including the Division I men's basketball tournament. ESPN Chairman Jimmy Pitaro expressed excitement over the continuation of their long-standing partnership. The Walt Disney Company (NYSE:DIS), ESPN's parent company, saw its stock trend on WallStreetBets and is set to report Q1 financial results on Feb. 7, with expected earnings of $1.04 per share and revenue of $23.84 billion. DIS shares were down 1.2% at the time of the article's publication.

Portfolio Pulse from Erica Kollmann

January 04, 2024 | 5:17 pm

AIR

AAR Corp (NYSE:AIR) has signed a multi-year agreement with Ontic to distribute military products to the U.S. government. AAR already supports Ontic's facilities in the U.K. and North Carolina. The company reported Q2 FY24 sales of $545.4 million, a 16% increase year-over-year, but slightly below estimates. Adjusted EPS was 81 cents, surpassing the estimate by 1 cent. AAR shares saw a modest increase of 0.51% to $62.48.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 5:12 pm

PCLOF

Benuvia Operations LLC and PharmaCielo Ltd (OTCQX:PCLOF) (TSXV:PCLO) have announced a strategic partnership to manufacture CGMP pharmaceutical-grade Active Pharmaceutical Ingredients (APIs) for the global market. PharmaCielo will cultivate cannabis and hemp in Colombia, while Benuvia will produce the final product in Texas. The partnership aims to offer Seed-to-Pharma products globally, ensuring quality and compliance. PharmaCielo also plans to issue common shares to satisfy interest payments on debentures. PCLOF's shares were trading at $0.107 at the time of the announcement.

Portfolio Pulse from Patricio Liddle

January 04, 2024 | 5:11 pm

ATXI

DYN

MBLY

OMGA

OPK

SLS

U.S. stocks saw gains with the Dow Jones rising by 200 points. Financial shares led the gains, while energy shares declined. The S&P Global US Services PMI was revised slightly higher for December. Dyne Therapeutics announced a public offering, Omega Therapeutics surged after a collaboration with Novo Nordisk, and Avenue Therapeutics rose on FDA agreement news. Conversely, SELLAS Life Sciences, Mobileye Global, and OPKO Health fell sharply due to a public offering, preliminary financial results, and a private offering of notes, respectively.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 5:00 pm

QS

VLKAF

VWAGY

Volkswagen AG's battery unit PowerCo and its US partner QuantumScape Corp. have reported promising test results for a new solid-state EV battery. The battery retained 95% of its original capacity after 1,000 cycles, surpassing industry targets of 700 cycles with a maximum loss of 20% capacity. This development could make EVs more efficient and less expensive.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:52 pm

RPID

Rapid Micro Biosystems' stock is trading higher following the announcement that Samsung Biologics has chosen its Growth Direct platform for automating microbiology quality control testing.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:40 pm

JFBR

Jeffs' Brands, Ltd. (NASDAQ:JFBR) stock continues to rise, with a 28% increase following a 25% gain the previous day. The surge is attributed to a recent letter of intent with Sky Growth Partners Ltd. for defense and drone charging technology, and an exclusive distribution agreement with Bolly Jon Ltd. for hair care products on Amazon Marketplace. The stock's low float and high trading volume are also noted.

Portfolio Pulse from Erica Kollmann

January 04, 2024 | 4:24 pm

AAPL

FXI

Apple's suppliers, including Foxconn, have invested $16 billion since 2018 to diversify manufacturing away from China due to US/China trade tensions, COVID measures, and power supply issues. TD Cowen's research indicates Apple's revenues were impacted by over $30 billion during the pandemic. Reshoring efforts are aimed at reducing future production disruptions, with investments in India, Mexico, the US, and Vietnam. Apple's operating margins may benefit long-term, despite higher near-term costs. iPhone production remains largely in China, but India is emerging as a significant manufacturing hub. Vietnam is becoming a major hub for Mac and iPad production, potentially meeting 40% of US demand. The reshoring process is expected to take years, with challenges in establishing new plants and organizing supply chains.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:19 pm

PTON

Peloton Interactive's stock is on the rise following the announcement of an exclusive partnership with TikTok, which will introduce Peloton's workout content to TikTok users.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:16 pm

DIS

ESPN and the NCAA have announced a new eight-year media rights agreement starting September 1, 2024, for exclusive coverage of 40 NCAA championships, including international rights to the Division I men's basketball tournament. The deal includes over 800 hours of NCAA Championships on ESPN linear networks and over 2,300 hours on ESPN linear and digital platforms annually. The agreement aims to increase exposure for student-athletes, particularly women, and is expected to impact revenue distribution for the women's basketball tournament. Endeavor's IMG and WME Sports advised the NCAA in the negotiations. The deal extends ESPN's relationship with the NCAA, which began in 1979, and will utilize ESPN's broad platform portfolio, including ESPN+, which has over 25 million subscribers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:16 pm