Streetbeat News

Partnerships

ECX

ECARX Holdings Inc has entered into a shareholders' agreement with Smart Automobile Co., Ltd to establish a joint venture in China for the development of automotive operating system software, according to an SEC filing dated November 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:31 pm

BB

BlackBerry Limited (NYSE:BB) has entered into a long-term cybersecurity deal with the Government of Malaysia, announced at the APEC Leaders' Summit. The agreement includes BlackBerry's suite of cybersecurity solutions, establishment of a Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur, and collaboration with the Government of Canada to build cybersecurity capacity in Southeast Asia. The CCoE will provide training to address Malaysia's shortage of cyber professionals and enhance regional cyber threat intelligence and incident response.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:12 pm

LUXH

LuxUrban Hotels Inc. (LUXH) has secured a non-dilutive financing agreement for up to $10 million from its Chairman and Co-CEO, Brian Ferdinand. The financing is structured as a 36-month unsecured advancing term promissory note with a 1% annual interest rate, prepayable at the company's discretion. The funds, raised through the sale of Ferdinand's shares, will be used for growth capital to lease hotels in the U.S. and internationally. The company's growth strategy is supported by proceeds from a recent preferred stock offering and partnership with Wyndham Hotels & Resorts. The financing is not required to meet the company's 2023 and 2024 guidance for net rental revenue, EBITDA, and hotel rooms under long-term Master Lease Agreements.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:09 pm

PFE

Serina Therapeutics has entered into a non-exclusive License Agreement with Pfizer Inc. to provide access to its proprietary POZ polymer technology. This technology may be used in lipid nanoparticle (LNP) formulations for RNA-based therapeutics. The agreement marks a significant milestone for Serina, indicating potential research and development advancements for Pfizer using the POZ polymer technology.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:02 pm

BA

Boeing Co, in partnership with the U.S. government, has initiated a project to promote the development and utilization of Sustainable Aviation Fuel (SAF) in Asia-Pacific Economic Cooperation (APEC) member countries. SAF is crucial for achieving net-zero carbon emissions by 2050 as set by the International Civil Aviation Organization and the industry. Despite its potential to reduce CO2 emissions by up to 85%, SAF currently makes up only 0.1% of global jet fuel demand due to limited supply and high costs. The initiative, sponsored by the U.S. Department of Transportation and the FAA, aims to address these challenges by identifying sustainable feedstocks, optimizing production pathways, leveraging existing infrastructure, and developing SAF-specific policies.

Portfolio Pulse from Shivani Kumaresan

November 17, 2023 | 12:22 pm

EVGO

HTZ

EVgo Inc has partnered with Hertz Global Holdings to provide electric vehicle renters with one year of special charging rates. This collaboration aims to enhance the EV rental experience by offering more accessible and affordable charging options, potentially increasing the adoption of EV rentals.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:10 pm

EVGO

HTZ

Hertz and EVgo have launched a joint promotion providing one year of special charging rates to drivers renting EVs from Hertz. This offer is exclusive to new EVgo customers and includes no monthly subscription or session fees for a year.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:02 pm

MSFT

OpenAI, supported by Microsoft Corp (NASDAQ:MSFT), is planning to integrate its ChatGPT chatbot into the education sector. OpenAI's COO, Brad Lightcap, announced the initiative, which aims to leverage ChatGPT as an educational tool in classrooms. Despite initial concerns about cheating, educators are recognizing its potential benefits. OpenAI is forming a new team to develop educational applications and has existing partnerships with groups like Khan Academy and Schmidt Futures. The online learning market is expected to grow significantly, and ChatGPT could contribute to this by serving as a tutor and assisting with curriculum development. However, privacy concerns for children using ChatGPT in schools have been raised. OpenAI anticipates generating over $1 billion in revenue from AI software and services within the next year.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 11:20 am

NOC

Northrop Grumman Corp (NYSE:NOC) is in advanced talks to produce 120mm tank ammunition in Poland, aiming to expand its European defense production capacity. CEO Kathy J. Warden is seeking the right industrial partners and contract structures. The state-owned PGZ armaments group's Mesko is finalizing negotiations for an offset agreement related to Poland's Abrams tanks purchase, which includes production of ammunition for Bushmaster guns. Northrop Grumman reported a 9% sales growth in Q3 FY23, with a backlog of $83.9 billion. NOC shares saw a slight decrease of 0.24% in the last trading session.

Portfolio Pulse from Lekha Gupta

November 17, 2023 | 10:46 am

GOEV

Canoo Inc. (NASDAQ:GOEV) has landed a significant contract with Prime Time Shuttle for the delivery of up to 550 electric vehicles. The Lifestyle Vehicle (LV) Premium model will be incorporated into Prime Time Shuttle's luxury and airport transportation fleets in the Los Angeles area. Prime Time Shuttle, with operations in 34 states and over 50 million customers since 1984, plans to expand the use of electric vehicles beyond California. Canoo's leadership is optimistic about the deal and California's zero-emission goals.

Portfolio Pulse from Benzinga Neuro

November 17, 2023 | 9:14 am