Streetbeat News

Partnerships

CHTR

DIS

Benchmark analyst Matthew Harrigan has maintained a Buy rating for Charter Communications Inc (CHTR) and raised the price target from $575 to $600. The analyst's positive stance is based on Charter's new programming template with Walt Disney Co (DIS), the upcoming launch of the Xumo Stream Box, and the upgrade of Charter’s network to multi-gig symmetrical speeds. Harrigan expects Charter's 3Q23 total sales to increase 1.1% to $13.71 billion, with EBITDA up 1.3% to $5.48 billion. He also estimates Charter gained 61K residential broadband customers in 3Q23.

Portfolio Pulse from Anusuya Lahiri

October 18, 2023 | 5:36 pm

MSFT

RXT

Rackspace Technology (NASDAQ:RXT) has partnered with Straits Interactive to create an AI Data Protection Officer (DPO) Assistant on Microsoft Azure OpenAI Service. The AI DPO Assistant, one of the first in the Asia Pacific and Japan (APJ) region, is a chatbot powered by generative AI. It will enable organizations to harness generative AI for business transformation, guide organizations in data governance and navigating data protection requirements, and securely store data in a multicloud environment by Rackspace Technology.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 4:55 pm

ADDYY

Adidas (OTC:ADDYY) is partnering with 'The Simpsons' to launch a new line of sneakers. The designs are inspired by various elements of the popular animated series, including the iconic living room, the character Homer Simpson, and the show's opening clouds. The partnership shows no signs of slowing down as 2023 nears its end, with more releases planned for November.

Portfolio Pulse from Javier Hasse

October 18, 2023 | 4:29 pm

PEP

STZ

TAP

Coca-Cola (KO) has announced a partnership with Pernod Ricard to launch Absolut Vodka & Sprite, a ready-to-drink pre-mixed cocktail, in 2024. This move is part of Coca-Cola's ongoing strategy to expand into the alcoholic beverage sector through partnerships with alcohol manufacturers. The company has previously partnered with Brown Forman, Constellation Brands (STZ), and Molson Coors Beverage Company (TAP). Coca-Cola's share price has fallen 3% over the last year and 14% year-to-date, while its rival PepsiCo (PEP) has seen a 7% decrease over the last year and 11% year-to-date.

Portfolio Pulse from Chris Katje

October 18, 2023 | 3:24 pm

NOC

Northrop Grumman Corporation (NYSE:NOC) and LIG Nex1 have signed a Memorandum of Understanding to collaborate on airborne electronic warfare and targeting systems for the Republic of Korea. The agreement was signed at the Seoul International Aerospace and Defense Exhibition 2023 (ADEX 2023). Northrop Grumman has a deep expertise in airborne electronic warfare and targeting systems, including the ALQ-257 F-16 Integrated Viper Electronic Warfare System, the LITENING advanced targeting pod and the APR-39D(V)2 and E(V)2 radar warning receivers.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:10 pm

AAPL

HNHPF

NVDA

Nvidia Corp (NVDA) is expanding its partnership with Foxconn (HNHPF) to develop AI-powered data centers and robotics platforms. However, Wall Street analysts predict a negative impact on Nvidia due to the US embargo on China, which historically represents 20%-25% of NVDA's data center revenues. KeyBanc analyst John Vinh sees this as a long-term damage for NVDA, potentially presenting a ~$20 billion headwind. Bernstein analyst Stacy A. Rasgon and Raymond James analyst Srini Pajjuri, however, remain confident in the long-term Total Addressable Market (TAM), regardless of China's participation.

Portfolio Pulse from Anusuya Lahiri

October 18, 2023 | 3:03 pm

AMZN

COOL

Noventiq Holdings PLC, a global digital transformation and cybersecurity solutions provider, has announced a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS). The collaboration aims to support customers in migrating and modernizing their IT workloads and data on the Cloud. Noventiq will expand its AWS solutions and services across India, Europe, and the Middle East. Noventiq is also in a proposed business combination with Corner Growth Acquisition Corp. (NASDAQ:COOL), which is expected to result in the combined company being listed on Nasdaq under the symbol 'NVIQ'.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:58 pm

AVGO

CDNS

Cadence Design Systems (CDNS) has collaborated with Broadcom (AVGO) to implement AI-driven design flows to accelerate the delivery of their innovative 3nm and 5nm designs. Using Cadence's AI-driven Cerebrus Intelligent Chip Explorer, Broadcom achieved performance, power and area (PPA) benefits. The AI technology has helped automate tasks, improve final design data and turnaround time, and provide valuable insights into design data.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:47 pm

FCEL

FuelCell Energy Inc (FCEL) announced that its electrolyzers will be used in a hydrogen and nuclear study in the UK, contracted by EDF Energy. The project aims to decarbonize asphalt production using hydrogen, produced in bulk at a lower cost using FuelCell's 1-Megawatt Solid Oxide Electrolyzer Cell with nuclear generated heat and electricity. The company's shares were trading lower, down 5.37% at $1.32.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 2:36 pm

EIS

SPY

President Biden has announced an agreement with Israel to allow humanitarian aid to move from Egypt to Gaza. He also reiterated his support for a two-state solution.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:22 pm