Streetbeat News

Partnerships

AHI

Advanced Health Intelligence Ltd (NASDAQ:AHI) has signed a collaboration agreement with UAE-based IntelliGen FZ-LLC to deploy AHI's technology in the Middle East. IntelliGen will receive up to 2 million AHI shares for the delivery of a $20 million license to AHI in the region, and a revenue share on all sales across the region delivered by IntelliGen.

Portfolio Pulse from Charles Gross

August 14, 2023 | 9:03 am

TSLA

Ford Motor Co CEO, Jim Farley, shared his experiences from a road trip in the F 150 Lightning electric pickup, highlighting the importance of efficient charging stations for electric vehicles (EVs). Farley praised the quick and easy charging at a 350 kW station in Baker, California, but also noted the challenges faced at slower stations. He mentioned that Ford is working with Tesla to provide Ford drivers access to over 12,000 superchargers and that EV-certified Ford dealers are installing fast chargers at their dealerships.

Portfolio Pulse from Anan Ashraf

August 14, 2023 | 8:30 am

AMZN

BRK

MSFT

NVDA

This week in AI saw significant investments and strategic moves by major companies. Morgan Stanley highlighted AI as a pivotal investment trend for the next decade. Neuralink, backed by Elon Musk, secured $280 million in funding for its brain chip trials. A study from Lucidworks revealed a surge in generative AI spending, with companies like Microsoft leading the charge. Nvidia is indirectly challenging cloud giants like Microsoft and Amazon by supplying AI accelerators to CoreWeave. Warren Buffett has directed a significant portion of Berkshire Hathaway’s portfolio towards AI investments.

Portfolio Pulse from Benzinga Neuro

August 13, 2023 | 1:01 am

GOOGL

LCID

NIO

RIVN

TSLA

The week ending August 1 saw a downturn in electric vehicle (EV) stocks due to inflation worries and earnings news. Key events included the resignation of Tesla's CFO Zachary Kirkhorn, PepsiCo's endorsement of Tesla's Semi, and Elon Musk's announcement of a 'mind-blowing' full-self driving software update. General Motors' pricing strategy for its new Cadillac EV was criticized, while Rivian and Lucid reported earnings. GM's Cruise and Alphabet's Waymo received approval for expanded driverless operations in San Francisco. Nio denied rumors of a partnership with Mercedes-Benz.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 1:30 pm

AMC

DIS

PENN

PLUG

RIVN

The S&P 500 and Nasdaq Composite saw losses while the Dow Jones gained. July's consumer price index rose to 3.2% in annual inflation, below market expectations. Stifel's Chief Equity Strategist predicts a flat market for the rest of the year. Penn Entertainment Inc announced an exclusive sports betting deal with ESPN, causing a 20% spike in shares, but ended the week with a 4.47% loss. Disney reported a mixed third quarter, with revenue growing 4% annually but below analyst expectations. AMC Entertainment Holdings ended the week 4.37% higher after reporting earnings. Rivian Automotive Inc lost more than 16% of its value this week after reporting losses. Plug Power Inc shares tanked 20.78% despite better-than-expected quarterly results. Canopy Growth, Curaleaf Holdings, and Aurora Cannabis Inc all saw losses after reporting earnings.

Portfolio Pulse from Natan Ponieman

August 11, 2023 | 8:37 pm

ACB

CBDD

CURLF

IMCC

OGI

TLRY

Cannabis companies in the U.S. and Canada are set to capitalize on the expanding European market as regulatory frameworks become more favorable. Israel's Ministry of Health has announced a reform of medical cannabis regulations, which is expected to boost the country's exports of medical cannabis. IM Cannabis Corp. (NASDAQ:IMCC) (CSE:IMCC) has praised the move. Germany is also set to approve a marijuana legalization bill. Cannabis giants Tilray Brands Inc. (NASDAQ:TLRY) (TSX:TLRY) and Aurora Cannabis Inc. (NASDAQ:ACB) are among the best-positioned companies to benefit from Germany's legalization. Other companies eyeing the new market include Curaleaf Holdings, Inc. (OTCQX:CURLF), CBD of Denver Inc. (OTC:CBDD), and Organigram Holdings Inc. (NASDAQ:OGI).

Portfolio Pulse from Jelena Martinovic

August 11, 2023 | 8:10 pm

PFE

TBIO

KeyBanc Capital Markets analyst Paul Knight has downgraded Telesis Bio, Inc. (TBIO) to Sector Weight from Overweight, despite TBIO slightly exceeding consensus in 2Q23 results and progress in its technical collaboration with Pfizer, Inc. (PFE). The downgrade is due to limited top-line visibility and significant dilution from raising capital through an equity plus-warrant transaction. TBIO expects two more technical milestone achievements of ~$2.5 million each, one in 2H23 and the final in FY24. Pfizer has the option to trigger additional charges if the products meet certain clinical milestones.

Portfolio Pulse from Nabaparna Bhattacharya

August 11, 2023 | 7:09 pm

TTWO

Take-Two Interactive Software's Rockstar Games has announced a partnership with the modding team behind the popular Grand Theft Auto 5 roleplay servers, FiveM and RedM. The collaboration involves integrating Cfx.re, the team responsible for these roleplay and creator communities, into Rockstar Games. This move marks a significant shift from Rockstar's previous stance towards modders. Despite speculation, the Cfx.re team has stated that this partnership does not imply any concrete plans for the upcoming Grand Theft Auto 6.

Portfolio Pulse from Franca Quarneti

August 11, 2023 | 6:53 pm

GLOB

MSFT

Globant SA has launched a dedicated Microsoft Studio to enhance the value of its client investments. The studio will combine Globant's expertise with Microsoft's capabilities, focusing on AI acceleration and cloud computing. This follows Globant's recent announcement of a $1 billion investment over five years in Latin America to boost its regional presence.

Portfolio Pulse from Lekha Gupta

August 11, 2023 | 6:30 pm

ACHR

JOBY

Benchmark analyst Josh Sullivan reiterated a Buy rating on Archer Aviation Inc (ACHR) with a price target of $12. This follows Boeing Co (BA) becoming a strategic partner and investor in Archer as part of a $215 million investing round. Archer also secured two new contracts with the Air Force totaling $142 million and received FAA authorization for flight testing of its eVTOL Midnight aircraft. Despite these developments, ACHR's shares are trading lower by 5.93% at $5.49.

Portfolio Pulse from Shivani Kumaresan

August 11, 2023 | 6:20 pm