Streetbeat News

Partnerships

IDAI

Trust Stamp (NASDAQ:IDAI) has been selected for the ICBA ThinkTECH Accelerator program, starting January 8, 2024, in Atlanta. The program aims to support community bank innovation in areas such as analytics, automation, and compliance. Trust Stamp provides AI-powered identity services with biometric solutions that enhance privacy and operational efficiency. Over 35 community banks have adopted Trust Stamp's technology since the launch of its Orchestration Layer in 2022. The ICBA ThinkTECH Accelerator connects fintech companies with community bankers to develop solutions for modern banking needs.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:51 pm

ACB

Ronan Levy, President of Safe Supply Streaming Co., discusses the potential mental health benefits of the coca plant and the company's role in supporting legal and regulated drug supply. Safe Supply, listed on the Canada and Frankfurt Stock Exchanges, invests in infrastructure for analyzing, manufacturing, and distributing psychoactive substances. Levy compares the current interest in the coca plant to the past interest in hemp and CBD, suggesting a similar trajectory for policy and industry development.

Portfolio Pulse from Lara Goldstein

December 08, 2023 | 8:46 pm

DPZ

UBER

Morgan Stanley analyst Brian Harbour has reiterated an Overweight rating on Domino's Pizza Inc (DPZ) and increased the price target from $435 to $455, citing a strong long-term outlook. The analyst highlighted DPZ's strategic details, financial goals, and positive near-term indicators from its first investor day in years. DPZ is expected to continue gaining market share and aims for over $3 billion in incremental sales over the next 5 years. The partnership with Uber Technologies Inc (UBER) is also seen as a positive contributor to sales. DPZ's new long-term algorithm through 2028 includes a 7%+ global retail sales growth, 3%+ same-store sales growth, and 1,100+ annual net unit growth. The company targets $400 million incremental operating income by 2028, driven by top-line growth, disciplined investments, and moderate margin expansion post-2024. Internationally, DPZ aims for over $4 billion incremental sales through FY28, with significant growth expected from China and India. Technological advancements, including automation and AI, are seen as potential boosts for customer and store operations. Despite the positive outlook, DPZ shares were trading down by 1.94% at $394.22.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 6:45 pm

AAPL

RBLX

UMGNF

Nicki Minaj is collaborating with Roblox Corp (NYSE:RBLX) for the launch of her new album 'Pink Friday 2,' which has already topped the US Apple Music charts, surpassing SZA's 'SOS'. The album, produced by Universal Music Group NV (OTC:UMGNF), features artists like J. Cole and Drake. Roblox shares surged by 2.93% following the news, with strong Q3 FY23 results showing a 20% increase in Bookings and a 38% revenue rise. The stock has surged over 46% year-to-date.

Portfolio Pulse from Franca Quarneti

December 08, 2023 | 6:12 pm

BLUE

Bluebird Bio announced the commercial launch of LYFGENIA gene therapy for sickle cell disease patients aged 12+ with a history of vaso-occlusive events. The therapy is priced at $3.1M and will be available through a network of Qualified Treatment Centers in Q1 2024. Bluebird offers outcomes-based contracts to payers and a patient support program. Clinical data shows LYFGENIA may be curative, reducing healthcare costs and improving life quality. Discussions are ongoing with major payers and Medicaid agencies, with 27 centers ready for patient referrals.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 6:04 pm

RNLSY

RNSDF

VWAGY

Volkswagen AG (OTC:VWAGY) is in preliminary talks with Renault SA (OTC:RNSDF, OTC:RNLSY) to develop an affordable electric vehicle (EV) priced around €20,000. The discussions are at an early stage and may not result in a partnership. The goal is to produce 200,000-250,000 vehicles annually. Renault confirms ongoing talks for cooperation in the small-entry EV segment. European automakers are competing with lower-priced Chinese models, with the average EV price in Europe at over €65,000, compared to €31,000 in China. Renault launched a new electric Twingo model, and Volkswagen plans to launch an EV for about €25,000 by 2025. VWAGY shares are up 0.19% at $13.35.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 5:59 pm

CRSP

VRTX

Vertex Pharmaceuticals and CRISPR Therapeutics announced FDA approval of CASGEVY, a CRISPR-based gene-editing therapy for sickle cell disease (SCD) in patients 12+ with severe symptoms. This marks the first U.S. approval of a CRISPR therapy, potentially benefiting 16,000 patients. Vertex will make a $200 million milestone payment to CRISPR and handle global development, manufacturing, and commercialization of CASGEVY, recording 100% of revenues and costs, and sharing net profits or losses with CRISPR. CASGEVY is also under review in Europe and Saudi Arabia, and a PDUFA date for TDT treatment in the U.S. is set for March 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:54 pm

ALT

KVUE

MLGO

NIO

SATL

Benzinga's Stock Whisper Index highlights five stocks that are gaining attention: Kenvue Inc (KVUE), MicroAlgo Inc (MLGO), NIO Inc – ADR (NIO), Satellogic Inc (SATL), and Altimmune Inc (ALT). Kenvue beat Q3 sales estimates with EPS in-line, while options activity suggests bearish sentiment. MicroAlgo's stock surged then fell after announcing a postgraduate training practice base. NIO delivered strong Q3 results and plans to spin off its battery division, but faced potential job cuts. Satellogic signed a multi-million dollar deal with Uzma, boosting its stock. Altimmune's Phase 2 obesity trial results were positive, especially as Pfizer halted its weight loss pill development, and M&A activity in the sector is rising.

Portfolio Pulse from Chris Katje

December 08, 2023 | 5:50 pm

AMZN

META

The social media platform formerly known as Twitter, now owned by Elon Musk, is seeking to attract smaller advertisers after alienating some of the largest brand advertisers. The company has initiated preliminary discussions with Amazon to utilize its ad-buying software to facilitate this new strategy.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:18 pm

PSX

Phillips 66 (NYSE:PSX) announced a 2024 capital budget of $2.2 billion, with $923 million allocated for sustaining capital and $1.3 billion for growth. The budget supports strategic priorities such as the NGL value chain, the Rodeo renewable fuels facility, and refining performance enhancements. Excluding joint venture debt repayments, the budget is $2 billion. The company aims to return $13B-$15B to shareholders by the end of 2024. The budget includes savings from business transformation efforts and the consolidation of DCP Midstream. Phillips 66's share of capital spending in joint ventures CPChem and WRB is expected to be $1 billion and self-funded. The total 2024 capital program, including joint ventures, is projected at $3.2 billion.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:10 pm