Streetbeat News

Partnerships

BGNE

BMY

MRNA

PFE

HBM Holdings' subsidiary Nona Biosciences has entered a licensing deal with Pfizer-owned Seagen Inc. for an antibody-drug conjugate (ADC) with an initial payment of $53 million and up to $1.05 billion in milestones. Despite this, HBM shares dropped due to the deal's perceived modesty compared to a larger deal between Sichuan Biokin and Bristol-Myers Squibb. HBM's revenue increased by 48% in the first half of the year, and the company turned a profit for the first time. Future revenues depend on clinical trial outcomes and partner decisions, with HBM's valuation still considered low compared to peers.

Portfolio Pulse from The Bamboo Works

December 22, 2023 | 6:11 pm

CAN

EBON

HOOK

MARA

WBD

Benzinga's Stock Whisper Index highlights five stocks: Marathon Digital Holdings (MARA), HOOKIPA Pharma (HOOK), Ebang International Holdings (EBON), Canaan Inc (CAN), and Warner Bros. Discovery (WBD). MARA has surged due to Bitcoin's rise and an analyst's price target increase. HOOK rose after Gilead Sciences (GILD) bought shares, with potential for more purchases. EBON and CAN, both related to Bitcoin mining, saw significant gains. WBD's stock declined amid rumors of a potential merger with Paramount Global (PARA, PARAA).

Portfolio Pulse from Chris Katje

December 22, 2023 | 5:53 pm

AMZN

GOOG

GOOGL

MSFT

NVDA

At AWS re:Invent, Amazon emphasized AI to compete with Microsoft and Google's advancements in generative AI. AWS, on track to earn $90 billion this year, is investing in AI, including foundational models and a chatbot, in partnership with Nvidia and Anthropic. Amazon's stock has risen 79% YTD, outperforming Microsoft's 56% gain. However, AMZN shares dipped slightly by 0.25% in the last check.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 5:17 pm

AAPL

GOOG

GOOGL

NFLX

SPOT

Alphabet Inc's Google has agreed to pay $700 million to settle antitrust cases, including revamping its app store practices. Google lost a lawsuit to Epic Games, which accused it of operating an illegal monopoly. The settlement requires Google to allow developers to offer direct payment options and make it easier to download apps from sources other than the Play Store. Despite reduced fees for app creators, customers may not see lower prices. The trial revealed Google's preferential treatment to companies like Spotify and Netflix, and highlighted the need for regulation. Google faces further legal challenges regarding its search and digital ad practices.

Portfolio Pulse from Upwallstreet

December 22, 2023 | 5:14 pm

Bloom Energy Corp (NYSE:BE) has extended its Preferred Distributor Agreement with SK ecoplant until 2027, increasing the commitment to 500 MW of Energy Servers. The deal is expected to generate approximately $1.5 billion in product revenue and $3 billion in service revenue over 20 years. SK ecoplant, which has invested $566 million in Bloom and owns about 10% of its shares, will be a preferred distributor for Bloom's SOFC and SOEC products in key markets.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 5:06 pm

CVX

HES

TALO

Talos Energy Inc (TALO) has been named the apparent high bidder on 13 deepwater blocks in the U.S. Gulf of Mexico, totaling approximately 74,000 gross acres. Additionally, Talos has entered into Lease Exchange Agreements with BP P.L.C. (BP), Chevron Corporation (CVX), and Hess Corporation (HES) to consolidate acreage across 15 blocks in the Green Canyon area. The company expects to participate with a 15-20% interest in these blocks. Talos's strategy is to leverage proximity to existing assets to enhance its infrastructure-led approach and reduce carbon intensity. The company also anticipates first production from Venice and Lime Rock by the end of 2023 and reaffirmed its Q4 average daily production estimate. TALO shares saw a slight increase of 0.60% to $14.35.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 4:46 pm

ATXG

Addentax Group Corp (NASDAQ:ATXG) has entered into a Memorandum of Understanding (MOU) with Zhongjiu Yihe for strategic collaboration in branded apparel and other business sectors. The partnership aims to establish comprehensive supply chain services in China. Despite the news, ATXG shares dropped by 12.32% to $1.1399.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 4:02 pm

ECX

ECARX Holdings Inc. (NASDAQ:ECX) has announced a strategic partnership with Black Sesame Technologies to develop advanced ADAS solutions and integrate their R&D, product, and technical resources. This collaboration is expected to drive business growth and solution deployment for both companies. ECARX will also share supply chain information with Black Sesame, enhancing collaboration with various vehicle brands. ECARX's products are currently in over 5.6 million vehicles globally. Additionally, ECARX has partnered with Black Sesame and BlackBerry Limited (NYSE:BB) to deploy the Skyland ADAS platform in Lynk & Co's flagship SUV. ECX shares closed lower by 1.15% at $2.570 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 2:16 pm

SLS

SELLAS Life Sciences Group is in a dispute with 3D Medicines over milestone payments and the alleged failure to exert commercially reasonable best efforts to develop GPS in the licensed territory, particularly China, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:11 pm

TENB

Tenable has achieved the FedRAMP 'Ready' designation for its Tenable Cloud Security for U.S. Government - Ermetic, a comprehensive CNAPP solution. This status, which follows the acquisition of Ermetic in October 2023, allows the U.S. federal government to deploy Tenable Cloud Security across various departments and agencies, enhancing cloud security and modernization efforts. Tenable's other solutions, Tenable Vulnerability Management and Tenable Web App Scanning, achieved FedRAMP authorization in 2021.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:04 pm