Streetbeat News

Partnerships

PRU

Prudential Financial, Inc. (NYSE:PRU) has entered into a $9.2 billion longevity risk transfer agreement with NN Life, a subsidiary of NN Group, marking its first international transaction in the Dutch market. The deal involves reinsuring over 200,000 policies and is part of Prudential's growth strategy to expand its Institutional Retirement Strategies business into The Netherlands. The company sees potential growth in the market following Dutch pension reform legislation.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:39 pm

WPRT

Westport Fuel Systems has secured a $33 million contract from a global heavy truck manufacturer to adapt and commercialize its next-generation LNG HPDI fuel system for the Euro 7 vehicle platform. The development program will be funded by the OEM.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:14 pm

IVCB

OpSec Group, a leader in IP management and brand protection, and Investcorp Europe Acquisition Corp I (NASDAQ:IVCB), a SPAC, announced a strategic investment from SAKATA INX via unsecured convertible loan notes. This investment supports OpSec's upcoming public listing through a business combination with Investcorp Europe, which was agreed upon on April 25, 2023. The combined entity will trade under the symbol 'OPSC' on Nasdaq post-closing.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:14 pm

IMXI

V

International Money Express, Inc. (Intermex) partners with Visa to enhance its money transfer services. The collaboration enables fast transfers to Visa cards and bank accounts in over 20 new countries. Visa Direct will be integrated into Intermex's platform, offering improved services to countries in Asia, Africa, Europe, and the Caribbean. The service was launched on 12/15/2023 and is available through the Intermex app on Apple and Google Play stores.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:11 pm

CELH

KDP

KO

MNST

PEP

Patrick Mahomes has signed with PRIME Drink Company as a PRIME Hydration Athlete, potentially boosting the brand's profile and challenging the dominance of Coca-Cola and Pepsi in the sports drink market. PRIME, co-founded by Logan Paul and KSI, has shown significant growth, with $565 million in sales and a 896% increase year-over-year. Coca-Cola and Pepsi, with their respective brands Powerade, BodyArmor, and Gatorade, may face increased competition as PRIME continues to expand its market presence.

Portfolio Pulse from Chris Katje

December 19, 2023 | 9:09 pm

MGM

MGM Resorts International's stock (NYSE:MGM) saw an increase after BetMGM, a sports betting and iGaming operator, announced an extended multi-year partnership with the National Hockey League (NHL) in North America. The partnership will allow BetMGM to create VIP fan experiences and offer league and team-branded casino games. MGM's CEO Adam Greenblatt emphasized the enhancement of the BetMGM product and the creation of unique entertainment experiences for fans. The stock rose over 4% on Tuesday, closing at $45.03, up 3.42%.

Portfolio Pulse from Ryan Gustafson

December 19, 2023 | 9:08 pm

LUV

Southwest Airlines and its pilots' union have reached a preliminary labor agreement after lengthy negotiations, with the last major U.S. airline securing a deal set to provide significant pay raises to aviators. The five-year deal, valued at approximately $12 billion, is pending ratification by the pilots. This follows similar agreements by American, United, and Delta pilots earlier in the year, which included double-digit pay hikes after the pandemic disrupted the industry.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:41 pm

MGM

MGM Resorts International's stock is trading higher following the announcement of a multi-year partnership extension with the National Hockey League in North America.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:27 pm

AWRE

Aware, Inc. (NASDAQ:AWRE) has partnered with Avanza Solutions to deliver biometric authentication solutions to financial services institutions in the Middle East, Asia, and Africa. This collaboration is expected to open new revenue opportunities for both companies by providing secure and convenient identity verification methods that meet the increasing demand in these regions. The partnership will leverage Aware's global authentication technology and Avanza's regional expertise to offer both cloud-based and on-premises solutions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:26 pm

TCNNF

Florida is on the cusp of a significant shift in cannabis policy, potentially moving from medical to recreational marijuana use. A ballot initiative supported by Smart & Safe Florida and Trulieve (OTC:TCNNF) aims to legalize recreational cannabis for adults over 21. The Benzinga Cannabis Capital Conference in Hollywood, Florida, will be a pivotal event for stakeholders to discuss these changes. The state has already seen progress with a bill approved by the Florida Senate Criminal Justice Committee to legalize recreational marijuana and establish a regulatory framework.

Portfolio Pulse from Abbey Higginbotham

December 19, 2023 | 7:58 pm