Streetbeat News

Partnerships

UBER

Uber Technologies, Inc. reported a 20% revenue growth in Q3 2024, surpassing analyst expectations. Despite a 9% stock price decline due to mixed results, analysts see potential in Uber's strong market position, cost discipline, and autonomous vehicle partnerships. Analysts have varied price targets, reflecting both optimism and caution regarding Uber's growth prospects.

Portfolio Pulse from Anusuya Lahiri

November 01, 2024 | 5:44 pm

IPO

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading higher following a long-term power purchase agreement with RWE, supplying electricity from a wind project in Texas. This aligns with Rivian's goal for a carbon-free future and supports its fast-charging network with renewable energy.

Portfolio Pulse from Nabaparna Bhattacharya

November 01, 2024 | 3:48 pm

CVX

Chevron's CEO Mike Wirth discussed the company's advantaged inventory, with 75% of locations breaking even at or below $50. The Pasadena refinery will shut down this quarter, and capital spending in the Permian Basin is expected to peak this year. The Hess deal requires arbitration to end, and cost-cutting benefits are expected by 2027.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 3:42 pm

AAPL

GSAT

Globalstar's stock surged after announcing an expanded $1.1 billion services agreement with Apple, enhancing satellite services and infrastructure. Apple will fund the network's construction and gain a 20% equity stake in Globalstar Licensee.

Portfolio Pulse from Anusuya Lahiri

November 01, 2024 | 3:10 pm

TOVX

Theriva Biologics shares rose after being selected as a finalist for Merck KGaA's EMEA Advance Biotech Grant.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:40 pm

GSAT

Globalstar shares rise as the company amends its services agreement with Apple to launch an extended MSS network with new satellites and infrastructure.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:40 pm

AAPL

GSAT

Globalstar has amended its services agreement with Apple to launch an extended MSS network, involving new satellites and infrastructure. Apple will provide a $1.1 billion infrastructure prepayment and purchase a 20% stake in Globalstar for $400 million. The agreement includes equity repurchase provisions, performance-based service fees, and revised debt repayment terms.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:37 pm

FXI

SPY

China's Commerce Ministry has revised measures to allow foreign individuals to make strategic investments in listed companies. This move could impact foreign investment in Chinese markets.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:09 pm

ADTN

Adtran has partnered with Sonic Fiber Internet to launch 50G PON connectivity across California. This new technology will coexist with GPON and XGS-PON, facilitating seamless network upgrades and addressing increasing bandwidth demands.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:03 pm

PURE

PURE Bioscience has entered into a multi-year distribution agreement with QuipLabs for its SDC products. The terms of the agreement have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 1:03 pm