Streetbeat News

Partnerships

GK

MSFT

Ross Gerber, Tesla investor and CEO of Gerber Kawasaki Wealth And Investment Management, named Microsoft CEO Satya Nadella as 'CEO of the year' for his leadership and the company's success, particularly highlighting the OpenAI partnership. Microsoft's stock hit a record high this week, with the company's growth attributed to Nadella's 'cloud-first, mobile-first' strategy and a $10 billion investment in OpenAI. AdvisorShares Gerber Kawasaki ETF, which has Microsoft as its third biggest holding, may be influenced by these developments.

Portfolio Pulse from Shanthi Rexaline

November 26, 2023 | 9:18 pm

HSBC

Bob Ras, co-creator of Sologenic, discussed the benefits of tokenization in an interview with Benzinga, highlighting its potential to enhance liquidity and inclusivity in global markets, especially in emerging economies. He sees regulatory changes as positive for the crypto industry and notes major financial institutions like HSBC are entering the tokenization space, specifically with tokenized gold. Ras emphasizes the advantages of self-custody and instantaneous settlements with tokenized assets and envisions a transformative impact on sectors like real estate and art. He also acknowledges the need for appropriate licensing and regulations to protect investors.

Portfolio Pulse from Murtuza Merchant

November 24, 2023 | 7:19 pm

MSFT

Sam Altman, CEO of OpenAI, was briefly sacked and then reinstated amid media speculation about safety concerns related to a powerful AI model called Q*. Microsoft Corp, a major backer of OpenAI, was mentioned in the context of providing access to computer terminals worldwide. Q* is reported to solve novel math problems, indicating progress in AI but not yet achieving AGI, which OpenAI aims to develop safely. Concerns around AGI include job displacement, privacy, and cybersecurity. The situation highlights the lack of structured global discourse on AI's future.

Portfolio Pulse from Neil Dennis

November 24, 2023 | 6:33 pm

LILM

Lilium N.V. (NASDAQ:LILM) has signed a memorandum of understanding with CITIC Offshore Helicopter Co. to collaborate on establishing an eVTOL operation network in China, starting with the Greater Bay Area. The partnership aims to develop regional services based on market demand and eventually offer regular eVTOL services. This move is part of Lilium's expansion in China, following agreements with Heli-Eastern and an MOU with the Bao'an District of Shenzhen. CEO Klaus Roewe emphasizes the importance of the Chinese market, which is expected to account for 25% of the eVTOL market. LILM shares rose 8.23% to $0.9029 following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

November 24, 2023 | 4:31 pm

XPEV

XPeng Inc. (NYSE:XPEV) stock is trading higher after Volkswagen announced plans to develop an affordable EV platform in China. XPeng and Volkswagen have a partnership to develop two new EV models for mid-level customers, with a rollout expected in 2026. XPeng recently unveiled the XPeng X9 Large 7-seater MPV for the Chinese market. Over the last five days, XPEV shares have risen over 14%, and in the past six months, they have increased by 114%.

Portfolio Pulse from Erica Kollmann

November 24, 2023 | 4:17 pm

WMT

YGF

YanGuFang International Group Co., Ltd. (NASDAQ:YGF) is expanding its distribution in China by targeting major retail chains such as Yonghui, Century Mart, and RT-MART for its whole grain food products. The company has a diverse product portfolio available in various regions across China and has established new partnerships with supermarkets since the beginning of 2023. YanGuFang, which holds patents and copyrights, aims to strengthen its global market position and contribute to the whole grain industry. YGF shares rose 4.14% to $3.02 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 24, 2023 | 4:16 pm

GS

Goldman Sachs Group, Inc. (NYSE:GS) ended its sponsorship deal with golfer Patrick Cantlay, which was part of its consumer banking marketing efforts. The deal, signed in 2020, was worth at least $1.1 million annually plus performance bonuses. The decision follows Goldman Sachs' strategic shift under CEO David Solomon, which includes closing its personal loan division and halting other unprofitable consumer banking ventures. Cantlay, who has earned over $42 million since turning professional, was previously featured with the Marcus brand but will no longer wear the Goldman logo.

Portfolio Pulse from Nabaparna Bhattacharya

November 24, 2023 | 3:56 pm

TSLA

TWTR

Elon Musk is expected to visit Israel next week, meeting with President Herzog and PM Netanyahu, and visiting towns hit by Hamas. Musk, owner of X (formerly Twitter), faces criticism for not combating antisemitism on the platform. Advertisers like Apple and Disney have reduced spending on X. Musk announced X will donate ad and subscription revenue from the Gaza war to hospitals in Israel and the Red Cross/Crescent in Gaza. Musk also plans to provide Starlink internet to Gaza, promising it will be used for humanitarian reasons. A ceasefire between Israel and Hamas is set to begin.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 3:47 pm

BITF

BTBT

BTDR

Major crypto miners are preparing for the Bitcoin halving event in April 2024 by focusing on capital reserves, fleet efficiency, and the use of stranded energy. At Benzinga's Future of Digital Assets event, executives from SATO Technologies, Bitfarms, and Bitdeer Technologies Group discussed strategies to mitigate the halving's impact. They emphasized the importance of sustainable energy sources, geographical diversification, and the role of institutional investors in mining. The industry is also committed to environmental sustainability by leveraging and creating renewable energy resources.

Portfolio Pulse from Murtuza Merchant

November 24, 2023 | 3:40 pm

STM

STMicroelectronics NV (STM) has signed a fifteen-year Power Purchase Agreement with ERG to supply renewable energy to its Italian operations from 2024 to 2038. The deal involves the sale of approximately 250 GWh of renewable energy annually from Sicilian wind farms, contributing to STM's goal of becoming carbon neutral by 2027. STM recently reported Q3 FY23 revenue growth of 2.5% YOY to $4.43 billion, surpassing estimates, with an EPS of $1.16.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 3:02 pm