Streetbeat News

Partnerships

F

EcoProBM, SK On, and Ford are investing C$1.2 billion to build a cathode manufacturing facility in Bécancour, Québec. The facility, which will create approximately 345 new jobs, is expected to start production in the first half of 2026. The facility will produce up to 45,000 tonnes of cathode active materials per year, which will be used in batteries for Ford's future electric vehicles. The investment is part of Ford's plan to localize key battery raw material processing in regions where it produces EVs.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:41 pm

IBM

MSFT

IBM has expanded its partnership with Microsoft to help clients accelerate the deployment of generative AI. The companies will offer expertise and technology to innovate business processes and expand generative AI effectively. They have been deploying IBM Consulting skills and Azure OpenAI Service to develop potential solutions and address specific use cases. IBM recently completed its acquisition of Apptio Inc., which is expected to drive significant synergy across key growth areas.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 2:37 pm

MOOD

Modular Medical has announced a partnership with Phillips-Medisize to expand insulin delivery alternatives, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 2:25 pm

DASH

DoorDash Canada and Staples Canada have announced a nationwide partnership to provide on-demand delivery of back-to-school and workplace essentials. The partnership will give customers access to over 290 Staples locations and over 38,000 back-to-school essentials via the DoorDash app. DoorDash is also offering a promotion of 30% off orders $25+ (up to $10) until August 30 from select retailers. Products are also available via DashPass, DoorDash’s subscription program that offers $0 delivery fees on eligible orders.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:22 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) has announced its collaboration with Turkish mobility provider, Togg, to integrate its advanced AI technology into Togg's new line of smart vehicles. The AI-powered voice assistant will be capable of tracking and understanding speech in real-time, addressing multiple questions, and controlling various vehicle functions. The technology is available in 25 different languages.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:02 pm

UNH

The New Mexico Human Services Department has announced its intention to award UnitedHealthcare, a division of UnitedHealth Group (UNH), as one of four organizations to administer Turquoise Care, the state's Medicaid program. UnitedHealthcare expects its Medicaid offering to be available to members beginning July 1, 2024. The company has previously served as a state Medicaid administrator from 2013 to 2018.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 2:01 pm

AMZN

CVS

Blue Shield of California is reportedly planning to drop CVS Health's Caremark in favor of Amazon and Mark Cuban's Cost Plus Drug Company. This has led to a decrease in the stock prices of several healthcare companies.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 1:57 pm

PRST

Presto Automation Inc. (NASDAQ:PRST) has signed agreements with 13 QSR franchise groups, representing over 500 locations nationwide. All franchisees have committed to deploying Presto Voice, Presto's proprietary drive-thru automation solution. The company estimates the serviceable addressable market for this space to be $2.25B in the U.S. alone. Presto Voice customers have seen check size increases of up to 6%, labor redeployment to accelerate service speed, and upselling up to 4X higher than human order-takers.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 1:23 pm

ILMN

Illumina Inc. (NASDAQ:ILMN) has announced the opening of a new office and state-of-the-art Illumina Solutions Center in Bengaluru, India. The expansion comes after 16 years of partnership with Premas Life Sciences in India. The new facility will help grow the genomics market in India, which is recognized as the most populous country in the world. Illumina has also supported initiatives to increase access to sequencing capability in India, including philanthropic funding with the Bill & Melinda Gates Foundation and the Rockefeller Foundation to support COVID-19 surveillance.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 1:22 pm

AGRX

Agile Therapeutics (NASDAQ:AGRX) reported strong Q2 results with significant revenue growth from its birth control patch, Twirla. Net revenue from Twirla reached $5.5 million, a 44% increase over the previous quarter and a 159% increase over Q2 2022. The company also reported a decrease in operating expenses, which helped widen its gross margin. Agile is focusing on expanding access to Twirla through strategic partnerships and reaffirmed its net annual revenue target of $25 to $30 million for 2023.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 1:16 pm