Streetbeat News

Partnerships

BMY

NVO

PRTA

RHHBY

Prothena Corporation (NASDAQ:PRTA) is reportedly preparing for a potential sale, attracting interest from large drugmakers. The company has collaborations with Bristol Myers Squibb Co (NYSE:BMY), Roche Holding AG (OTC:RHHBY), and Novo Nordisk A/S (NYSE:NVO). Recently, Bristol Myers Squibb exercised its option to obtain exclusive worldwide commercial rights for PRX005, an anti-tau antibody for potentially treating Alzheimer's disease, and will pay Prothena $55 million. Prothena's shares are up 20% at $52.90.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 3:28 pm

AAPL

HNHPF

NVDA

Nvidia Corp's stock is trading higher amid reports of the U.S. planning to prevent American chipmakers from selling semiconductors to China that bypass government restrictions. The restrictions will apply to shipments of advanced chips and chipmaking equipment to China. Nvidia released new variants, including the H800 chips for the Chinese market. There is speculation about a potential cooperation between Nvidia and Apple partner Foxconn. Nvidia also increased the price of GeForce Now in Europe and Canada.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 3:20 pm

PRTA

Biotech firm Prothena Corp., known for developing a treatment for Alzheimer's disease, is reportedly preparing for a potential sale or partnership. This comes ahead of key data expected in the coming months.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:47 pm

AAPL

ALB

AZN

BTCUSD

CVS

HON

MANU

NVAX

NWSA

PFE

RAD

WBA

Bitcoin's price spiked on false rumors of an ETF approval by BlackRock. Albemarle Corporation withdrew its offer to acquire Liontown Resources. Pfizer cut its annual revenue guidance by $9B due to a slump in COVID-19 vaccine sales, and BioNTech warned of €900M write-offs. Rite Aid filed for Chapter 11 bankruptcy. AstraZeneca's Tagrisso-Chemo combo is under FDA priority review. Honeywell projects a 10% increase in new business jet deliveries in 2024. WeWork appointed David Tolley as CEO. Novavax faces a setback as the EMA delays a decision on its COVID-19 vaccine. Activist shareholder Starboard Value acquired a stake in News Corp. Goldman Sachs is reconsidering its consumer lending venture. Manchester United shares fell as the Qatari group pulled away from acquisition. Apple is reshuffling its executive ranks and focusing on reducing the price of Vision Pro. Walgreens and CVS pharmacy staff are planning a nationwide walkout over poor working conditions.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 2:35 pm

APPL

BYDDF

DIDIY

TSLA

XPEV

Analysts predict a potential spike in the stock price of China's largest EV maker, BYD Company Limited (OTC:BYDDF) (OTC:BYDDY), due to rising sales, improving margins, and rapid overseas expansion. Despite underperforming compared to peers like Tesla Inc (NASDAQ:TSLA), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), BYD is seen as undervalued. The company's battery business, which supplies many EV manufacturers and holds 16% of the global EV battery market, has helped maintain profit margins over 18%. DBS Bank and Livy Investment Research have bullish outlooks for BYD, citing strong vehicle sales, a net cash balance of $8.4 billion, partnerships with companies like Apple Inc (NASDAQ:APPL), and a solid overseas market strategy.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 2:09 pm

KTOS

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) and Boeing Company (NYSE:BA) have signed a Memorandum of Understanding for the use of Kratos' TDI-J85 turbine engine in Boeing’s Powered Joint Direct Attack Munition (JDAM). The partnership aims to enhance range and affordability of the JDAM, which is engineered for mass production and exportable to 35 partner nations.

Portfolio Pulse from Akanksha Bakshi

October 16, 2023 | 1:56 pm

MEDIF

Several new cannabis products have been introduced to the global health and wellness market. Cornbread Hemp has launched the first USDA-certified organic CBD Sleep Gummies. UCG Inc. has partnered with Mana Supply to introduce the Dabstract brand to Missouri's recreational cannabis market. Earthy Select has expanded its premium THCa flower product line. MediPharm Labs Corp. has introduced GMP-certified Beacon Medical cannabis products into the Australian medical market.

Portfolio Pulse from Joana Scopel

October 16, 2023 | 1:48 pm

VUZI

Vuzix Corporation (NASDAQ:VUZI), a supplier of smart glasses and Augmented Reality (AR) technology, has received and partially delivered additional follow-on and new design orders from three Tier-1 aerospace and defense contractors. The revenue from these orders is in the mid six-figure range. The company expects to receive additional non-recurring engineering orders for subsequent phases from some of these contractors. The final product designs could lead to production program orders.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:22 pm

WISA

WiSA Technologies is exploring strategic alternatives, which may include acquiring or selling assets, merging with another company, forming partnerships, or repurchasing stock purchase warrants using funds from its next financing round, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:21 pm

AMZN

BRZE

Braze (NASDAQ:BRZE), a customer engagement platform, announced its availability in AWS Marketplace, a digital catalog for software listings that run on Amazon Web Services (AWS). This move deepens the relationship between Braze and AWS, simplifying procurement and deployment for Braze customers. The platform enables brands to create multi-channel experiences that exceed customer expectations, boosting retention rates and purchases per user.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:14 pm