Streetbeat News

Partnerships

AIG

ESGR

Enstar has entered into an adverse development cover agreement with AIG. Under the agreement, Enstar will provide $400 million of adverse development cover in excess of carried loss reserves on assumed reinsurance contracts underwritten by Validus Re.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:32 am

AFLYY

AFRAD

EADSY

Airbus SE (OTC:EADSY) and Air France-KLM (OTC:AFLYY) (OTC:AFRAD) are in exclusive negotiations to establish a joint venture for Airbus A350 component maintenance services worldwide. The joint venture will involve transferring aircraft components assets from both partners into the joint venture's pool. The joint venture is expected to be operational by the first half of 2024.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2023 | 11:21 am

SSNLF

TSLA

Samsung Electronics has won a contract to supply camera modules to Tesla Inc. This is the second major win for Samsung in the EV space this year, following a contract to supply chips for Tesla's Level-5 autonomous driving vehicles. The camera modules will be used in Tesla's Full Self-Driving technology. Samsung is now a key supplier for Tesla, replacing LG Innotek as the lead camera module supplier.

Portfolio Pulse from Rounak Jain

September 05, 2023 | 11:15 am

BA

Saab has signed an extension agreement with Boeing for the manufacturing of large cargo doors, bulk cargo doors, and access doors for the Boeing 787 Dreamliner.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:08 am

GILD

MGNX

Gilead Sciences has nominated the first of two research programs, leveraging Macrogenics' DART and TRIDENT platforms for generating bispecific antibodies. This triggers a milestone payment of $15M to Macrogenics.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:07 am

JYD

Jayud Global Logistics Limited (NASDAQ:JYD) has entered into a customs service agreement with Zhuhai Xiaomi Communications, a subsidiary of Xiaomi Corporation. The partnership aims to streamline and optimize Xiaomi's international cargo operations, including import and export customs clearances and related services at each port.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:02 am

NSANY

RNLSY

Renault's CEO Luca de Meo has indicated that the company's new electric vehicle division, Ampere, could reach a valuation of up to $10.75 billion in an IPO expected in the first half of 2024. The exact pricing is yet to be confirmed. Nissan, as part of its restructured alliance with Renault, has committed to invest up to €600 million in Ampere. Renault's shares (RNLSY) closed lower by 6.7% to $7.52 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2023 | 10:54 am

GRRR

Gorilla Technology Group Inc. (NASDAQ:GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, has officially commenced its Smart Government Security Convergence project in Egypt. The project, funded by the Government of Egypt, is a significant step towards achieving Egypt's Vision 2030 objectives.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:35 am

BMY

Zenas BioPharma has entered into a license and collaboration agreement with Bristol Myers Squibb to develop and commercialize obexelimab for autoimmune diseases in several Asian countries. Zenas will receive a $50 million up-front cash payment and additional payments for achieving certain milestones. Bristol Myers Squibb will also make an equity investment in Zenas.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:07 am

QUBT

Quantum Computing Inc. (QUBT) has signed a strategic sales and teaming agreement with AI-empowered cybersecurity company, Assured Cyber Protection Ltd. The partnership aims to leverage Quantum's quantum optics and nanophotonics technology in the cybersecurity sector.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:03 am