Streetbeat News

Partnerships

GM

STLA

UPS

The International Brotherhood of Teamsters has secured a five-year contract with United Parcel Service, Inc (UPS), valued at approximately $30 billion, averting a potential strike. The contract includes wage increases and safety measures. Meanwhile, the United Auto Workers (UAW) is in a historic strike against Detroit's major automakers, including Ford Motor Company (GM), General Motors Co (GM), and Stellantis NV (STLA), pushing for a 46% pay increase.

Portfolio Pulse from AJ Fabino

September 15, 2023 | 7:09 pm

F

GM

STLA

UAW President Shawn Fain announced that the union has sent a comprehensive counteroffer to the Detroit Three (Ford, General Motors, and Stellantis) and is awaiting their response. Negotiations are expected to continue tomorrow.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:29 pm

GO

WMT

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Grocery Outlet Holding Corp (NASDAQ:GO) with a price target of $40. The company's business is expected to remain solid due to strong traffic and consumer spending on basics. Grocery Outlet is leveraging technology and partnerships to gain new customers and increase productivity. The company plans to open 25-28 new stores in 2023 and focus on square footage growth and digital marketing beyond 2023.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 6:10 pm

SATL

Skyloom and Satellogic have signed an agreement for multipath optical comms data transmission. Satellogic's spacecraft will conduct a low Earth orbit-to-ground link, paving the way for low latency, high capacity data transmission.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:10 pm

AMZN

PDD

PYPL

Mizuho analyst Dan Dolev reiterated a Buy rating for PayPal Holdings Inc (PYPL) with a $92 price target. The analyst sees potential growth for PYPL's Branded Checkout button due to the surge in popularity of China's Temu, an online marketplace launched by PDD Holdings Inc (PDD) in the U.S. PYPL is among the payment options available on Temu. Web traffic to Temu has increased significantly, contributing to a higher share of incoming traffic to PYPL.

Portfolio Pulse from Anusuya Lahiri

September 15, 2023 | 5:42 pm

KR

Kroger Company (NYSE:KR) is partnering with Performance Kitchen to offer medically tailored meals (MTMs) through its healthcare division. These meals are designed to meet the specific needs of individuals with various health conditions. The meals are frozen, single serve and ready to heat. A study by Tufts University estimated that MTM programs could prevent 1.6 million hospitalizations and save health insurers $13.6 billion in a year.

Portfolio Pulse from Shivani Kumaresan

September 15, 2023 | 3:06 pm

ETRGF

TLRY

Entourage Health Corp. has extended its supply agreement with HEXO Corp., securing ongoing access to high-quality cannabis biomass for its product portfolio. The prices of all products supplied under the agreement are fixed but subject to adjustments depending on production costs. Following HEXO's acquisition by Tilray Brands Inc., Entourage shifted its sourcing strategy, now obtaining cannabis from Tilray cultivation sites. HEXO's obligations under the deal have been assigned to Aphria Inc., Tilray's principal operating entity.

Portfolio Pulse from Jelena Martinovic

September 15, 2023 | 3:00 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) has announced an agreement with ITD Industries, Inc. to become the first dealer for Nikola Class 8 EV trucks in Canada. ITD will integrate a Nikola showroom and service department into its manufacturing facility in Toronto. Shares of NKLA are up more than 40% since Wednesday on heavy trading volume.

Portfolio Pulse from Erica Kollmann

September 15, 2023 | 2:52 pm

AMD

AMD's partner, TSM, has reportedly instructed suppliers to delay the delivery of high-end chipmaking equipment. This has led to a decrease in AMD's share price.

Portfolio Pulse from Bill Haddad

September 15, 2023 | 2:51 pm

IZEA

EdTech company has awarded IZEA a 7-figure contract. The details of the contract and its implications for IZEA's business operations are not specified.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 2:29 pm