Streetbeat News

Partnerships

TSLA

Tesla CEO Elon Musk met with China's President Xi Jinping on Wednesday, where he received support from Xi for Tesla's development in China, according to Tesla's Weibo account.

Portfolio Pulse from Charles Gross

November 16, 2023 | 10:39 am

BLK

BlackRock's Evergreen Infrastructure fund has garnered nearly $1 billion in commitments from European investors to invest in energy transition and energy security. The fund is acquiring a U.S. commercial and industrial solar and battery platform, subject to closing conditions.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 8:02 am

CXM

Sprinklr, a unified customer experience management platform, has announced a partnership with infinit.cx, specialists in Contact Center as a Service (CCaaS) and customer experience. The collaboration aims to optimize Sprinklr Service and support enterprises in transitioning to cloud-based customer service across more than 30 digital channels. This partnership is designed to help businesses future-proof their customer service, marketing, engagement, and research strategies using Sprinklr's platform.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 8:01 am

CRSP

VRTX

Vertex Pharmaceuticals and CRISPR Therapeutics have received conditional marketing authorization from the UK MHRA for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease and transfusion-dependent beta thalassemia. The treatment is approved for patients 12 years and older who lack a matched stem cell donor, with an estimated 2,000 eligible patients in the UK.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 7:29 am

MSFT

NVDA

ORCL

Jim Cramer expressed skepticism about Microsoft's ability to compete with Nvidia in the AI chip market, despite Microsoft's announcement of its in-house AI chips at the Ignite 2023 conference. Microsoft has partnered with Oracle to access Nvidia chips, which Cramer sees as an indication of Microsoft's inability to compete with Nvidia's technology. Microsoft launched the Azure Cobalt CPU and AI accelerator chip Maia, and plans to resell Azure Cobalt to other cloud providers. The Microsoft-Oracle partnership allows Microsoft to use Oracle Cloud AI Infrastructure alongside Azure AI infrastructure. Oracle is also a customer of Nvidia's AI chips. Microsoft's stock saw a marginal increase, while Nvidia's stock ended a winning streak with a slight decline.

Portfolio Pulse from Shanthi Rexaline

November 16, 2023 | 6:04 am

ETH-USD

SHIB-USD

The Shiba Inu ecosystem Shibarium has partnered with the Manny Pacquiao Foundation to aid in fundraising and operations. Shibarium, a layer 2 blockchain built on Ethereum, offers faster and cheaper transactions, which could benefit the foundation's charitable activities. Despite initial launch issues, Shibarium is processing thousands of transactions daily. SHIB, the ecosystem's token, has seen a 4.70% increase in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:09 am

VLVLY

The United Auto Workers (UAW) union announced that its members have voted 93% in favor of a new contract with Volvo Group's Mack Trucks, ending a 39-day strike. The strike began on October 7 after workers rejected a previous tentative agreement. This ratification follows a series of strikes by UAW against major automakers, with agreements with the Detroit Three still pending.

Portfolio Pulse from Anan Ashraf

November 16, 2023 | 3:10 am

ACB

CANSF

Willow Biosciences Inc. (OTCQB:CANSF) reported strong financial results for Q3 2023, with record revenue of $0.7 million and year-to-date revenue of $1.1 million. The company, specializing in precision fermentation for health and wellness, food and beverage, and personal care markets, has made significant strides in business expansion and operational efficiency. Key achievements include a reduction in cash burn, a successful insider-led convertible debenture financing, and progress in various R&D programs. Willow also settled patent litigation with Aurora Cannabis Inc. (NASDAQ:ACB). Shares of CANSF rose 8.13% to $0.0556.

Portfolio Pulse from Joana Scopel

November 15, 2023 | 9:45 pm

JPM

J.P. Morgan Chase & Co.'s Onyx and Apollo Global have launched a proof-of-concept with Avalanche under Singapore's Project Guardian. The initiative aims to digitize and tokenize assets using Avalanche's technology. Avalanche's price surged by 23% in the past 24 hours, with monthly gains reaching 117%. The Onyx digital assets platform processes $1-$2 billion in tokenized assets daily and has settled over $950 billion in tokenized treasuries. A LayerZero protocol will connect Onyx Digital Assets with an Avalanche subnet designed for institutional needs, allowing access to tokenized funds by WisdomTree.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 9:22 pm

MOR

MorphoSys AG has updated its FY23 financial guidance, raising the lower end of its Monjuvi U.S. net product sales forecast from $80M to $85M, with the upper end remaining at $95M. The gross margin for Monjuvi sales is expected to be approximately 75%, and the profit/loss is split 50/50 with Incyte. R&D expenses are projected to be between €290M to €315M, and SG&A expenses between €140M to €155M. Tremfya royalties will be recorded as revenue but passed on to Royalty Pharma, and no significant cash-accretive revenues from milestones are expected in 2023. Sales of tafasitamab outside the U.S. to Incyte will result in zero gross profit/margin.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:05 pm