Streetbeat News

Partnerships

SPR

Spirit Aero's CEO has acknowledged the company's disappointing performance and expressed a desire to restore stakeholder confidence. The company expects to reverse $350M-$370M in losses on the 787 program due to an agreement with Boeing.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 3:09 pm

BOX

GOOG

GOOGL

Box, Inc. (BOX) and Google Cloud (GOOG, GOOGL) have expanded their partnership to integrate generative AI into enterprise work. Box will integrate with Vertex AI to build new AI features that help customers process and analyze data stored in the Box Content Cloud, now available on Google Cloud Marketplace. Box will also use Vertex AI to power its new metadata extraction feature, which will automatically identify and tag key context from documents. Box is also expanding its use of Google Cloud services across networking, data analytics, and machine learning.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 3:01 pm

Morgan Stanley Tactical Value is partnering with Kobalt to invest over $700 million in music copyrights over the next few years. Kobalt will manage the creative, synch, licensing, administration, and investment services for the copyrights. This deal marks a return to managing investment for outside capital for Kobalt. Goldman Sachs acted as an advisor in the new partnership.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:57 pm

ALDX

Aldeyra Therapeutics has entered into an exclusive options agreement with AbbVie, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:52 pm

ABBV

ALDX

Aldeyra Therapeutics has entered into an exclusive option agreement with AbbVie for the development and commercialization of reproxalap. AbbVie has the option to acquire a co-exclusive license to develop, manufacture, and commercialize reproxalap in the U.S. and an exclusive license outside the U.S. Aldeyra will receive a non-refundable option fee of $1 million and an upfront payment of $100 million less option fees if AbbVie exercises the option. Aldeyra could receive up to $300 million in regulatory and commercial milestone payments.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:51 pm

FOXA

FOX News Audio has expanded its partnership with Audacy to include FOX Weather, a free, ad-supported streaming weather service. The deal, effective from November 1, will allow listeners to access FOX Weather's news and live programming via the Audacy app and Audacy.com. FOX Weather is also available on platforms such as Verizon Fios, Samsung TV Plus, Cox, The Roku Channel, fuboTV, YouTube TV, Fire TV Channels, Optimum, Spectrum, LG Channels, DIRECTV STREAM, Xumo Play, WOW!, Vidgo, TuneIn, Plex and Astound Broadband.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:42 pm

FXI

SPY

VGK

The US, China, and 26 other nations have agreed to cooperate over AI development, according to Financial Times. This could potentially impact the global tech industry and the stocks of companies involved in AI.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:04 pm

AMD

BABA

INTC

MSFT

NHNCF

NVDA

TSM

Nvidia Corp is facing challenges due to U.S. semiconductor sanctions on China and increasing competition from Intel Corp and Advanced Micro Devices, Inc. The company has lost orders over $5 billion in 2024 from China's leading AI and cloud-computing companies, including Alibaba Group. South Korean internet conglomerate Naver Corp has replaced Nvidia with Intel as the leading chip supplier of its AI server. Nvidia's GPU price hikes and a global shortage of its GPUs have also affected the company. Intel and Naver are collaborating to compete against Nvidia, which holds an estimated 80% market share in the global AI processor market. Microsoft Corp has reportedly tapped AMD to help expand into AI processors.

Portfolio Pulse from Anusuya Lahiri

November 01, 2023 | 1:31 pm

EHang Holdings Limited (NASDAQ:EH) has inaugurated its first European Urban Air Mobility (UAM) Center in Spain. The center, located at the Lleida–Alguaire International Airport, is the first of its kind in Europe for unmanned electric vertical take-off and landing (eVTOL) aircraft. The center is a result of a collaboration between EHang and Aeroports de Catalunya. The UAM Center includes a vertiport that complies with EASA's design criteria and will enable seamless incorporation with the airport terminal, platform, control tower, equipment, procedures, and regulations.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 1:29 pm

JBLU

JetBlue (NASDAQ:JBLU) has announced a partnership with CIBC FirstCaribbean and Mastercard (NYSE:MA) to launch two credit cards in five Caribbean markets. The JetBlue Mastercard and JetBlue Select Mastercard will offer exclusive rewards and the opportunity to earn TrueBlue points for travel. The cards will be available to residents in The Bahamas, Jamaica, Barbados, Trinidad and Tobago, and the Cayman Islands from November 2023. The cards offer a welcome bonus of either 10,000 or 30,000 TrueBlue points.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 1:24 pm