Streetbeat News

Partnerships

MSFT

Microsoft Corporation (NASDAQ:MSFT) is reportedly negotiating management changes with OpenAI, including board expansion and higher qualifications for board members. Microsoft aims to avoid being surprised by OpenAI's strategic decisions and seeks to enhance its control and oversight. The company already has approval rights for mergers, as seen when OpenAI considered merging with Anthropic. Microsoft is looking to increase protections and notification rights for various scenarios. MSFT shares rose 1.39% to $378.24.

Portfolio Pulse from Nabaparna Bhattacharya

November 22, 2023 | 4:15 pm

GXO

GXO Logistics Inc (NYSE:GXO) has announced the extension of its partnership with Avon, a health and beauty company. The partnership, which has been in place for approximately 15 years, involves GXO managing a site in Garwolin that supports Avon's largest factory in Europe. This site facilitates the distribution of Avon's products to over 50 countries across Europe, Africa, and Asia. GXO provides warehousing, co-packing, value-added services, and manufacturing support, helping Avon adapt to new regulations and market changes. Financial terms of the agreement were not disclosed. GXO's stock saw a slight increase of 0.40% to $56.91.

Portfolio Pulse from Shivani Kumaresan

November 22, 2023 | 4:01 pm

DTC

Snoop Dogg's announcement of quitting smoke was revealed to be a publicity stunt for Solo Brands' Solo Stove, a smokeless fire pit brand. Solo Brands (NYSE:DTC) has officially partnered with Snoop Dogg as their spokesman to promote their smokeless fire pit technology. The rapper's initial declaration was shared with his 120 million social media followers, but he later featured in an ad for Solo Stove, emphasizing the brand's smokeless feature. Solo Brands aims to eliminate smoke from outdoor settings, and CEO John Merris expressed excitement about Snoop Dogg promoting the smokeless experience.

Portfolio Pulse from Javier Hasse

November 22, 2023 | 3:50 pm

NIO

NIO Inc (NASDAQ:NIO) shares have declined over 6% in the past week but saw a slight boost on Monday after positive management commentary at the Guangzhou auto show. Nio's president dismissed bankruptcy rumors, and the company announced its 2,100th power swap station. Nio is collaborating with Chongqing Changan Automobile Co on battery swapping technology and possibly vehicle development. The company is set to report Q3 financial results on Dec. 5, with over 55,000 vehicles delivered last quarter, a 75.4% increase YoY. NIO shares were down 1.31% at $7.41 at the time of publication.

Portfolio Pulse from Adam Eckert

November 22, 2023 | 3:31 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS), a technology company, announced that its subsidiary, Charging Robotics Ltd., received approval for funding from the Israeli Innovation Authority for a pilot project on wireless EV charging in automated parking systems. The project, in cooperation with Parkomot Ltd., aligns with the Israeli Ministry of Energy's goals for EV market adoption. The total budget is approximately $445,000, with 50% financed by the Israel Innovation Authority.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:14 pm

AMZN

CRWD

CrowdStrike (NASDAQ:CRWD) has launched its AI-powered cybersecurity solution, Falcon Go, on Amazon Business, targeting small and medium businesses (SMBs). Falcon Go is designed to provide SMBs with advanced protection similar to that used by large enterprises, leveraging CrowdStrike's AI-native Falcon platform. The product is available at a special reduced price during the Black Friday to Cyber Monday shopping period.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:01 pm

BAER

Bridger Aerospace has formed a joint venture partnership with Marathon Asset Management and Avenue Capital's Sustainable Solutions Fund to acquire four Canadair CL-215t amphibious aircraft from the Government of Spain for €4M, as per a public tender process concluded on December 5, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:34 pm

CNVS

Cineverse has signed a global commercial agreement with Little Dot Studios to manage and grow several of their owned and operated OTT channels on YouTube. This partnership aims to leverage Cineverse's expertise in channel management to enhance the performance and viewership of Little Dot's digital content.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:32 pm

BCS

C

SCGLY

WFC

Citigroup Inc (NYSE:C) is planning to launch a direct lending strategy by early January to tap into the $1.6 trillion private credit market. This move is part of a trend among banks like Wells Fargo & Co (NYSE:WFC), Barclays Plc (NYSE:BCS), and Societe Generale SA (OTC:SCGLY), which are expanding into private debt. Citigroup's strategy will offer a range of financing options, including high-yield bonds, leveraged loans, or private credit, to meet the needs of companies and private equity owners, especially in anticipation of a rise in buyout deals.

Portfolio Pulse from Vandana Singh

November 22, 2023 | 2:15 pm

EWI

MA

Intesa Sanpaolo has partnered with Mastercard and Tapster to launch a new payment ring in Italy. This innovative wearable allows users to make payments in a convenient and secure manner. The ring is linked to one of the user's payment cards and utilizes Mastercard's tokenization platform for security.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:11 pm