Streetbeat News

Partnerships

FCEL

FuelCell Energy, Inc. (NASDAQ:FCEL) has secured a project debt financing deal for its Connecticut Municipal Electric Energy Cooperative (CMEEC) fuel cell microgrid-ready project at the Naval Submarine Base New London. The financing includes $12 million from Liberty Bank and Amalgamated Bank with a seven-year term, and $8 million from the Connecticut Green Bank with a 20-year term. The funds will be used to retire a $3 million corporate credit facility with Connecticut Green Bank, fund project reserves, and pay transaction fees.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 8:21 pm

PHUN

Phunware has announced a purchase agreement with Lincoln Park Capital Fund for up to $30M over a 24-month period. Phunware will control the timing and amount of any sales with no upper limits to the price.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:15 pm

IMNN

IMUNON has entered into a Cooperative Research and Development Agreement (CRADA) for preclinical studies of its PlaCCine modality in preventive vaccines against the Lassa virus. The CRADA will evaluate the immunogenicity and efficacy of two DNA-based Lassa virus vaccine candidates in animal models.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:13 pm

ARKF

ARKK

ARKW

BLK

COIN

GBTC

Ark Invest Founder Cathie Wood believes that the price of Bitcoin will rise and could hit $1 million by 2030. She suggests that the approval of Bitcoin ETFs could increase demand for Bitcoin. Coinbase Global Inc is a top holding in the Ark Innovation ETF, Ark Next Generation Internet ETF, and the Ark Fintech Innovation. Wood also highlighted the importance of Coinbase’s partnership with BlackRock Inc for the cryptocurrency sector. The Grayscale Bitcoin Trust is also a top holding in the Ark Next Generation Internet ETF.

Portfolio Pulse from Chris Katje

August 24, 2023 | 7:07 pm

EFTR

PFE

HC Wainwright has initiated coverage on eFFECTOR Therapeutics Inc (EFTR) with a Buy rating and a price target of $5. The analysts highlight eFFECTOR's lead candidate, zotatifin, and another potential value driver, tomivosertib, which could reach the market by 2027 and achieve blockbuster status by 2030. A collaboration with Pfizer Inc (PFE) provides strategic validation and potential long-term upside. EFTR shares are currently trading flat at $0.71.

Portfolio Pulse from Vandana Singh

August 24, 2023 | 6:18 pm

SPG

Fast-fashion giant Shein has acquired a one-third interest in Forever 21's operator, SPARC Group, making it a minority shareholder. The deal will allow Forever 21's goods to be manufactured and sourced by SPARC and then sold to Shein. The partnership could potentially expand to include other SPARC brands. Forever 21 sees this as an opportunity to tap into the Gen Z market, while Shein aims to build trust among American consumers amid controversies over its environmental footprint and cotton sourcing.

Portfolio Pulse from Vandana Singh

August 24, 2023 | 6:05 pm

GOOG

GOOGL

WMT

Alphabet's drone delivery venture, Wing, is partnering with two Walmart Superstores in the Dallas-Fort Worth area to provide drone delivery services to approximately 60,000 households. The global delivery drones market is expected to reach $10.47 billion by 2030. Wing's drones can deliver a range of items, from groceries to over-the-counter medications, within a six-mile radius and commit to a 30-minute delivery window.

Portfolio Pulse from Anusuya Lahiri

August 24, 2023 | 5:31 pm

FOX

GOOG

IAC

NYT

The New York Times Co (NYSE:NYT) has updated its Terms of Service to prevent AI companies from freely accessing its archives. Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, however, plans to continue scraping web data until regulations require them to stop. The Associated Press (AP) has partnered with OpenAI, granting them access to its textual archives. Barry Diller, co-founder of Fox Corp (NASDAQ:FOX) (NASDAQ:FOXA) and current Chairman at IAC Inc (NASDAQ:IAC), has expressed concerns about the AI industry's assertion of 'fair use' when using copyrighted content.

Portfolio Pulse from AJ Fabino

August 24, 2023 | 4:40 pm

BLNK

Blink Charging Co (NASDAQ:BLNK) has signed a two-year contract with the Tennessee Valley Authority (TVA) to provide EV charging solutions. The agreement includes Level 2 charging equipment and DC Fast Chargers for public and commercial fleet applications. This follows Blink's strong Q2 2023 earnings, with revenues increasing to nearly $33 million. The company has also raised its 2023 revenue target to $110 million-$120 million.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:39 pm

DIN

Dine Brands Global Inc (DIN) owned restaurant chain IHOP is partnering with Google Cloud to enhance its online ordering experience with AI technology. IHOP is the first restaurant chain to use Google Cloud's Recommendations AI technology. This move is part of IHOP's strategic investments in its rapidly growing online ordering and to-go business, which has grown to more than 20% of total sales in recent years.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:01 pm