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Partnerships

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

ASXC

FLEX

Asensus Surgical, Inc. has entered into an agreement with Flex Ltd. for the design and advanced manufacturing services of the LUNA Surgical System. This partnership aims to leverage Flex's expertise in design and manufacturing to enhance the development of Asensus Surgical's LUNA system, which is expected to contribute to the company's growth in the surgical devices market.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:24 pm

TKO

UFC and Atomic Brands have expanded their marketing partnership with a multi-year agreement, featuring Monaco Cocktails at UFC events in the U.S. Monaco will be the Official Canned Cocktail of UFC, with brand placement in Pay-Per-Views, Fight Nights, and The Ultimate Fighter. The partnership includes original content distribution through UFC's digital channels. Monaco Cocktails, known for their malt-free, real spirit cocktails with 9% ABV, will be featured at UFC 295 in New York City.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:04 pm

RACE

Ferrari plans to hire 250 new employees in the first half of 2024 and launch a broad-based share ownership plan for its 5,000+ employees, starting in Italy. The plan includes a one-off grant of shares and additional shares after 36 months. Ferrari also renewed its Competitiveness Award agreement, allowing employees to convert part of the award into company shares. The company is committed to sustainability by including an ESG indicator in the award calculation. Additionally, Ferrari is expanding its health and parenting support initiatives, including free annual medical check-ups and extended support for parents.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:51 pm

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GM

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TSLA

VLKAF

Tesla Inc (NASDAQ:TSLA) is facing a decline in EV market share in China, with October 2023 deliveries down 2.6% from September, while BYD Co Ltd (OTCPK:BYDDF) saw a 5% increase. Tesla's aggressive discounts in China have affected margins, but with factory upgrades complete, the revamped Model 3 has begun deliveries. The Chinese market is focusing on AI and smart cockpits, with domestic and non-Chinese OEMs, including Volkswagen AG (OTCPK:VLKAF), Bayerische Motoren Werke AG (OTCPK:BMWYY), Toyota Motor Corp (NYSE:TM), and General Motors Co (NYSE:GM), investing in R&D. Elon Musk's new AI venture, xAI, has produced Grok, which may be integrated into Tesla vehicles to leverage their onboard computing for AI applications.

Portfolio Pulse from Surbhi Jain

November 13, 2023 | 5:46 pm