Streetbeat News

Partnerships

MMI

Marcus & Millichap has entered into a strategic partnership with real estate technology firm Archer, which includes an equity investment and a commercial relationship. This partnership aims to enhance Marcus & Millichap's service offerings through advanced technology solutions provided by Archer.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:40 am

DOGEUSD

SHIBUSD

The meme cryptocurrency MEME has seen a 50% increase in value, outperforming Dogecoin (DOGE) and Shiba Inu (SHIB), which fell by 2-4%. MEME's market cap rose to $288 million, and its trading volume surged by over 780%. Despite having no utility or roadmap, MEME's success is partly due to its association with the Memeland Group and 9GAG. The token is not intended for use as a payment method, and its white paper includes a disclaimer to this effect.

Portfolio Pulse from Mehab Qureshi

November 14, 2023 | 5:30 am

LCID

Lucid Group Inc (NASDAQ:LCID) has entered into a strategic partnership with Riyadh Air, a new airline founded by Saudi Arabia's Crown Prince Mohammed bin Salman and wholly owned by the Public Investment Fund (PIF). The partnership includes a memorandum of understanding to explore co-marketing, commercial, and operational collaborations. Lucid, which is 60% owned by the PIF, also recently opened a new EV manufacturing facility in Saudi Arabia. At the Dubai Airshow, Lucid Air vehicles are showcased with Riyadh Air branding.

Portfolio Pulse from Anan Ashraf

November 14, 2023 | 3:47 am

NAK

Northern Dynasty Minerals Ltd. has received a $2 million advance under the second tranche of an amended royalty agreement for the Pebble Project. The amendment allows for increased payment flexibility and extends the expiration date of the agreement. The Royalty Holder has the option to fund the second $12 million tranche in six $2 million installments, receiving a portion of the payable gold and silver production per installment. The full $60 million agreement remains unchanged, aiming to enhance the company's financial liquidity and continue the Pebble Project's development.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 2:01 am

TLLTF

TILT Holdings Inc. (OTCQB:TLLTF) reported a strong Q3 2023 with a 10% revenue increase to $44.6 million and a 20% reduction in operating expenses. The company saw a 44.8% improvement in net loss and a substantial increase in adjusted EBITDA to $2.2 million. Operational highlights include a sale of membership interests, a claim for employee retention credits, a brand partnership, and a fundraising partnership. CEO Tim Conder anticipates a delay in Q4 revenue due to Chinese New Year but expects growth in 2024. TLLTF's stock was down 18.42% at $0.031 per share.

Portfolio Pulse from Joana Scopel

November 13, 2023 | 10:45 pm

OCN

Z

ZG

PHH Mortgage, a subsidiary of Ocwen Financial Corporation (NYSE:OCN), has entered into a mortgage subservicing agreement with Zillow Home Loans, expanding their existing relationship. The initial onboarding of loans was completed in August 2023. This partnership aligns with PHH's strategy to grow its subservicing portfolio and reinforces its position as a leading subservicer. PHH has been recognized for servicing excellence by Freddie Mac, Fannie Mae, and HUD, highlighting its industry standing.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:42 pm

HSAI

Hesai Technology has secured a design win to supply its AT128 ultra-high resolution long-range lidar to Great Wall Motors for multiple passenger vehicle models. Mass production and delivery are set to begin in 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:41 pm

AZTA

Azenta, Inc. (NASDAQ:AZTA) has announced a Memorandum of Understanding with the Ministry of Public Health of the DRC for a €100 million National Vaccination Service project. B Medical Systems, a part of Azenta, will provide cold chain solutions for vaccine storage and transport, including customized Toyota vehicles and other equipment. Over 50% of the project's value will be recognized as revenue for Azenta, with deliveries expected in fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:32 pm

LICY

Li-Cycle Holdings Corp. has engaged investment bank Moelis & Company to explore financing and strategic alternatives to enhance shareholder value. This could include a sale, merger, divestiture, or other options. The company's decision to seek strategic alternatives suggests it is looking to optimize its operations and financial structure amid the growing industry for battery recycling.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:17 pm

ATSG

BA

Air Transport Services Group, Inc. (ATSG) has delivered a Boeing 767-300 freighter to My Freighter Cargo Airlines under a multi-year lease. This marks the start of a business partnership aimed at enhancing My Freighter's service capabilities in Uzbekistan and Central Asia. ATSG's LeasePlus+ service model is expanding, with plans to offer Airbus A321 and A330 freighters in addition to Boeing 767s, targeting e-commerce and express customers in growing regions.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:06 pm