Streetbeat News

Partnerships

MMI

Marcus & Millichap has entered into a strategic partnership with EquityMultiple, a move that could potentially expand the company's reach and services in the real estate investment sector.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:28 am

EVO

EVOTF

Evotec's insomnia drug, EVT201, has received approval from the Chinese medical authority through its partner Zhejiang Jingxin Pharmaceutical. Evotec is set to receive double-digit royalties on net sales and additional milestones based on commercial success and potential sub-licensing.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:04 am

AAPL

DIS

NFLX

VZ

WBD

Verizon Communications Inc. (NYSE:VZ) is offering a new bundle including Netflix and Max for $10 a month, a discount of $7 from their combined individual subscription costs. The bundle is available to Verizon myPlan customers, with the cheapest plan starting at $75 per month. The offer also includes a Disney bundle for $10 and an option for a comprehensive package with Netflix, Max, Disney Plus, Hulu, and ESPN for $20 per month. Verizon's myPlan also offers options with Apple Inc.'s (NASDAQ:AAPL) One subscription and a Walmart+ membership.

Portfolio Pulse from Rounak Jain

December 06, 2023 | 4:17 am

MSFT

Elon Musk's AI venture, xAI, is seeking to raise $1 billion in equity funding and has already secured nearly $135 million from four investors. The company, which launched a chatbot named Grok, aims to compete with other AI firms. Musk, who also owns X (formerly Twitter), announced that equity investors in X will have a 25% stake in xAI. Microsoft Corporation (NASDAQ:MSFT) has invested approximately $13 billion in OpenAI, a company Musk co-founded and left. Musk has criticized OpenAI and called for a pause in training powerful AI models.

Portfolio Pulse from Ananya Gairola

December 06, 2023 | 3:40 am

MSFT

Reid Hoffman, co-founder of LinkedIn and former director of OpenAI, expressed confusion at the temporary removal of CEO Sam Altman from OpenAI, with no clear reasons provided. The decision, which followed investor pressure and a potential employee walkout, has since been reversed, and Altman has been reinstated. Despite this, the reasons behind the turmoil remain unclear, with rumors of Altman neglecting AI safety and disagreements over funding for a new AI chip startup. OpenAI continues its operations and maintains its partnership with Microsoft (NASDAQ:MSFT).

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 3:14 am

DIS

TSLA

Elon Musk, CEO of Tesla Inc, has intensified his conflict with Walt Disney Co by criticizing the company's decision to suspend advertisements on his social media platform, X. During an interview with Sandy Munro, Musk expressed his disdain for political correctness and predicted internal challenges for civilizations, hinting at the 2024 election. Disney's ad suspension followed Musk's interaction with an antisemitic post, for which he later apologized. Musk's comments have led to social media trends calling for the cancellation of Disney Plus and Hulu subscriptions, and he foresees a 'meaningful decline' in Disney's future.

Portfolio Pulse from Chris Katje

December 06, 2023 | 12:14 am

ARKK

GBTC

Cathie Wood, in an interview with Benzinga, predicted a $25 trillion Bitcoin market by 2030. Since then, Bitcoin's price and market cap surged 70%, with a current market cap of $856.8 billion. Wood remains optimistic, suggesting Bitcoin could reach $650,000 in five to seven years and potentially $1 million to $1.5 million later. Despite public bullishness, Wood's Ark Invest has been reducing Bitcoin exposure, selling over 700,000 shares of Bitcoin Grayscale Trust. Ark Invest is also collaborating with 21Shares for a spot Bitcoin ETF.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 10:31 pm

ASPN

Aspen Aerogels, Inc. (ASPN) announced a commercial award from The Automotive Cells Company to supply the Stellantis STLA Medium vehicle platform with PyroThin EV Thermal Barriers, starting production in 2025. Additionally, Aspen updated on its U.S. Department of Energy Loan Programs Office application, confirming it has moved to the due diligence phase for a loan to build a second manufacturing facility in Georgia. However, this does not guarantee further progress or loan approval.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:22 pm

ACRS

Aclaris Therapeutics has entered into an exclusive patent license agreement with Sun Pharma for the rights to Deuruxolitinib. The deal includes an upfront payment of $15M, along with additional milestone payments and royalties.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:02 pm

IGMS

IGM Biosciences, Inc. (NASDAQ:IGMS) is prioritizing its clinical development on DR5 agonist for colorectal cancer and T cell engagers for autoimmune diseases. The company plans to file an IND for IGM-2644 to treat autoimmune diseases and is halting all hematologic oncology clinical development. This strategic refocus includes a workforce reduction of about 22% and is expected to extend the company's cash runway into Q2 2026. The company continues to collaborate with Sanofi on oncology and immunology product candidates.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:02 pm