Streetbeat News

Partnerships

C3.Ai Inc (NYSE:AI) announced an expanded collaboration with Shell for asset monitoring and predictive monitoring. The C3 AI Reliability application will now include predictive maintenance software from Shell. The companies plan to pursue a roadmap that includes reliability and asset monitoring solutions, asset integrity, process and production optimization, and sustainability solutions. C3.ai shares climbed more than 8% on Tuesday and continue to move higher Wednesday.

Portfolio Pulse from Adam Eckert

October 11, 2023 | 1:37 pm

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Several companies are in the news for various reasons. Alphabet and Discord are facing ethical concerns over Google's AI chatbot, Bard. MGM Resorts snubbed hackers' ransom demands after a cyberattack. Costco is accused of sharing confidential health data with Meta Platforms. Humana has appointed a new CEO. Novo Nordisk has stopped a kidney trial due to early signs of efficacy. Walgreens has appointed a new CEO. GSK has settled a lawsuit. LVMH reported a 9% organic revenue growth in Q3. Qantas Airways is overhauling its board. Tempest Therapeutics' stock soared after positive results from a clinical trial. Tech giants Baidu, Huawei, and Alibaba are setting standards for autonomous driving in China. Blackstone is in talks to acquire a stake in Disney's Indian subsidiary. Mallinckrodt's bankruptcy plan was approved. Birkenstock has priced its IPO.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 1:36 pm

STLA

Stellantis N.V. (NYSE: STLA) and Samsung SDI have announced Kokomo, Indiana, as the second site for their electric vehicle battery manufacturing facility in the U.S. The companies will invest over $3.2 billion in the new facility, which will be co-located with a gigafactory currently under construction. The second facility is expected to start production in early 2027, with an annual capacity of 34 gigawatt hours. The total investment for both facilities is expected to be more than $6.3 billion, creating about 2,800 new jobs.

Portfolio Pulse from Lekha Gupta

October 11, 2023 | 1:28 pm

VJET

Voxeljet (NASDAQ:VJET) has been selected by GE Research for a $14.9M contract funded by the U.S. Department of Energy (DoE) to develop advanced manufacturing technologies. The project aims to develop a voxeljet sand binder jet 3D printer for manufacturing large sand-casting molds, which will be used to produce metallic near net shape (NNS) components for the wind and hydro energy sectors. The goal is to reduce production time and costs, with the potential to reduce overall hydropower costs by 20% and lead times by four months.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:16 pm

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XPEV

Chinese EV maker XPeng Inc (XPEV) is under investigation for corruption involving its head of procurement, Li Feng. Despite this, XPeng expects the probe not to disrupt its business or production processes. The news comes as XPeng is fostering strategic alliances, including a $700 million investment from Volkswagen AG (VWAGY) for EV development in China. XPeng's shares are trading higher by 1.77% in premarket.

Portfolio Pulse from Shivani Kumaresan

October 11, 2023 | 1:16 pm

IOT

Samsara Inc. (NYSE:IOT) has announced its growth in the U.S. public sector, with the City of Houston being the latest to digitize its operations using Samsara's Connected Operations Cloud. The company's platform is being used to increase service transparency, sustainability, and safety, and to take data-informed actions. Other customers include the State of New Jersey, City of Fresno, and Hernando County. Samsara's recent fiscal quarter results showed that two of its top-five new customers and two of its top-five expansion deals were within the public sector.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:07 pm

SHEL

C3 AI (NYSE:AI) and Shell Global Solutions International BV are expanding their collaboration to include Shell's predictive maintenance software in the C3 AI Reliability application. The software, developed by Shell, anticipates maintenance needs for control valves and critical equipment. The integration will make the technology available to other customers and further advance C3 AI Reliability as the industry standard for predictive maintenance. The collaboration is part of a roadmap focusing on safety, asset integrity, process and production optimization, and sustainability solutions.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:07 pm

ROKU

Roku Inc has entered into a multi-title international distribution partnership with Fifth Season. Under the agreement, Fifth Season will serve as Roku's international format and tape distribution partner for an initial slate of unscripted Roku Originals.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:07 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) shares are trading higher after the company disclosed new information in a regulatory filing and ahead of its annual symposium. The company expects strong gross margin expansion through 2030 and has made investments to capture the planned hydrogen push. The company also provided a long-term revenue outlook, including expectations for $1.2 billion in revenue this year, $6 billion in 2027 and $20 billion in 2030. Plug Power also signed a memorandum of understanding with Fortescue to evaluate the potential supply of equipment for green hydrogen production projects across North America.

Portfolio Pulse from Adam Eckert

October 11, 2023 | 1:04 pm

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UNH

Myriad Genetics Inc has entered into a new long-term agreement with UnitedHealthCare. The contract amendment will be effective from January 1, 2024, and will run through December 31, 2027.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:04 pm