Streetbeat News

Partnerships

LFMD

MED

Medifast Inc (NYSE:MED) has formed a strategic alliance with LifeMD Inc (NASDAQ:LFMD), investing $20 million into LifeMD, including a $10 million purchase of LifeMD's shares. Medifast has discontinued its quarterly cash dividends to provide flexibility for evolving its business model. The collaboration will integrate LifeMD's virtual care technology with Medifast's OPTAVIA program, aiming to offer a clinically supported weight management program. This partnership follows a successful pilot program and positions LifeMD in a growing market. However, following the announcement, LFMD shares dropped by 6.30%, and MED stock fell by 11.7%.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 4:11 pm

FOX

FOX News Media (FNM) has announced the promotion of three senior executives to enhance its digital leadership team. Jason Klarman is now Chief Digital and Marketing Officer, Porter Berry is President of FOX News Digital and Editor-In-Chief, and Lauren Petterson is President of FOX Nation and Talent Development. Petterson will also step down as President of FOX Business Network (FBN), with Jay Wallace taking over. Megan Albano and Gavin Hadden have also been promoted within the organization. These changes aim to further grow and expand FOX News Media's successful digital platforms.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:05 pm

TRS

TriMas (NASDAQ:TRS) announced that its TriMas Packaging group is innovating in the packaging industry with new tethered cap designs. These designs are winning new business from global customers, including Coca-Cola and Granarolo. The new caps are sustainable, enhance consumer experience, and comply with the EU's Single-Use Plastics Directive. The 38mm sports drink cap for Coca-Cola is set to launch in mid-2024, and the lightweight cap for Granarolo's milk-based products is designed for easy use and recyclability.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:02 pm

CTSH

NOW

Cognizant (NASDAQ:CTSH) is set to acquire Thirdera, an Elite ServiceNow Partner, to enhance its digital transformation capabilities with ServiceNow and create one of the world's largest ServiceNow partners. The acquisition will add over 940 employees and a significant number of ServiceNow certifications to Cognizant's ServiceNow Business Group. Thirdera has a global presence and has been recognized with several ServiceNow awards. The deal is expected to close in January 2024, with financial details not disclosed. Cognizant and ServiceNow (NYSE:NOW) have been expanding their strategic partnership, aiming to build a $1 billion combined business focused on AI-driven automation.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:02 pm

DANOY

DEO

HSY

LRLCY

UL

Kahlil Lozoraitis, CEO of Weekenders Cannabis, applies a brand-centric leadership philosophy honed from his experience at major companies like Diageo PLC, L’Oréal SA, Danone SA, The Hershey Co, and Unilever PLC. Weekenders Cannabis, known for its sun-grown flower pre-rolls, operates in California and New York. Lozoraitis emphasizes the importance of persistence, managing uncertainty, and diversity in leadership. He advocates for more investment in minority entrepreneurs in the cannabis industry, noting that diverse teams yield superior results. Weekenders' collaboration with Gorilla RX on a community initiative in LA highlights his commitment to partnerships and sustainability.

Portfolio Pulse from Joana Scopel

December 13, 2023 | 3:58 pm

HCP

Google Cloud and HashiCorp, Inc. (NASDAQ: HCP) have announced an expanded partnership to integrate generative AI into HashiCorp's products using Google Cloud's Vertex AI. This collaboration aims to enhance automation workflows for developers and accelerate cloud transformation. HashiCorp will also add support for Google Cloud's Duet AI to assist with Terraform configurations. The partnership, which includes clients like Deutsche Bank and Vodafone, will develop AI models tailored to HashiCorp's customer use cases and strengthen Terraform's AI compatibility.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:29 pm

CVX

Venezuela's Deputy Oil Minister announced that PDVSA's unit CVP and U.S. Chevron (CVX) have sought a 15-year extension for two joint ventures from the Venezuelan government, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:18 pm

EPAM

EPAM Systems, Inc. has launched its AI-powered DIAL Open Source Platform, designed to facilitate the development of applications using large language models (LLMs). The platform is adaptable, model-agnostic, and supports a wide range of applications across industries. It is already used in over 500 use cases and is available under the Apache 2.0 license, promoting open source collaboration. EPAM's DIAL platform is containerized, Kubernetes-ready, and compatible with major public cloud providers. The company also highlighted StatGPT, a tool developed on the DIAL platform to automate SDMX queries using LLMs.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:04 pm

GOOGL

Google has introduced Gemini Pro, an enhanced generative AI feature for cloud customers, targeting businesses and app developers. It is now integrated into Google AI Studio and Vertex AI Developer tools. This move is part of Google's efforts to compete with Microsoft and OpenAI in the cloud AI space.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:04 pm

LLY

Ro, a direct-to-patient healthcare company, has expanded its Body Program with the launch of Zepbound (tirzepatide), an FDA-approved weight loss treatment from Eli Lilly and Company. Zepbound has shown significant results in clinical trials, helping people lose an average of 48 pounds over 72 weeks. Ro's Body Program offers a comprehensive telehealth weight loss solution, integrating various medications, insurance coverage verification, side effect tracking, and AI learning models. The program also integrates with Apple Health for data sharing.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:54 pm