Streetbeat News

Partnerships

GOEV

Canoo Inc (NASDAQ:GOEV) announced an expansion of its partnership with the U.S. Department of Defense's Defense Innovation Unit (DIU). The collaboration involves Canoo delivering an advanced battery pack for use on operational military platforms. Canoo's stock experienced volatility following the announcement, peaking at 66 cents before falling 2.02% to 54 cents.

Portfolio Pulse from Adam Eckert

July 10, 2023 | 2:21 pm

GOOGL

MSFT

Google, a subsidiary of Alphabet Inc., is testing its medical AI chatbot, Med-PaLM 2, at Mayo Clinic. The chatbot can answer questions and summarize documents. It is a variant of the PaLM 2 language model, which also powers Google Bard. Google has trained Med-PaLM 2 on questions and answers from medical licensing exams. Microsoft is also developing an AI chatbot for the healthcare industry.

Portfolio Pulse from Rounak Jain

July 10, 2023 | 2:16 pm

GOEV

Canoo Inc. (NASDAQ:GOEV) has expanded its partnership with the U.S. Department of Defense's Defense Innovation Unit (DIU) to develop a high-power battery pack. This partnership validates Canoo's technological and operational reliability for demanding U.S. government projects. The battery pack will set the standard for energy-dense lithium batteries for the U.S. Navy. Despite this, GOEV shares are trading lower by 2.3%.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 2:12 pm

IPAR

Inter Parfums Inc (NASDAQ:IPAR) has signed an exclusive worldwide fragrance license agreement with the Roberto Cavalli brand. The deal will be effective from July 6, 2023, and will see IPAR's subsidiary manage the Cavalli fragrance business. The company plans to modernize and elevate the fragrance portfolio, with brand extensions planned for 2024 and a new scent for women in 2025. In Q1 2023, IPAR reported revenues of $311.7 million and an EPS of $1.68.

Portfolio Pulse from Lekha Gupta

July 10, 2023 | 1:57 pm

ETHUSD

Mantle Network, an Ethereum layer-2 network, is proposing a $200 million ecosystem fund, the Mantle EcoFund, to promote developer and decentralized applications (dApps) adoption. The fund will consist of $100 million USDC from the Mantle Treasury and an expected matching capital of $100 million from various venture partners. An independent committee will oversee the investments made by the Mantle EcoFund. The fund will operate with a three-year target deployment period and a possible two-year extension.

Portfolio Pulse from Murtuza Merchant

July 10, 2023 | 1:55 pm

JNJ

NBTX

Nanobiotix (NBTX) has entered into a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV, a unit of Johnson & Johnson (JNJ), for the investigational radioenhancer NBTXR3. Janssen will pay $60 million in upfront fees and funding for an exclusive worldwide license. The agreement also includes potential milestone payments of up to $650 million for five new indications that Janssen may develop, and up to $220 million per indication that Nanobiotix may develop in alignment with Janssen.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 1:52 pm

MSFT

Opportunity International, a global non-profit organization, has announced the appointment of Greg Nelson, a former Microsoft executive, as its new Chief Technology Officer. Nelson, who spent 26 years at Microsoft, will lead the development of technological innovations to increase financial inclusion and business development efforts in developing countries.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 1:49 pm

CBAT

CBAK Energy Technology's subsidiary, Nanjing CBAK New Energy Technology, has signed a strategic agreement with Guangzhou Echom Science & Technology. Echom will purchase about ¥180 million worth of CBAK Energy's cylindrical lithium-ion batteries over the next three years. Echom is also obligated to prioritize CBAK Energy's batteries in its new energy storage products and ensure that over 50% of its relevant products utilize CBAK Energy's batteries.

Portfolio Pulse from Shivani Kumaresan

July 10, 2023 | 1:47 pm

SPY

VGK

The European Union has sealed a new transatlantic data transfers pact with the United States, according to Reuters. This agreement is expected to ensure that companies can continue to transfer personal data across the Atlantic, a process that is crucial for many businesses.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 1:44 pm

DIS

EA

Cliffhanger Games, a new EA studio, has announced an upcoming title based on Marvel's Black Panther. The game is being developed in collaboration with Marvel Games and is led by Kevin Stephens, a veteran from Monolith Productions. The team includes leaders from acclaimed franchises such as Halo Infinite, God of War, and Call of Duty. The game aims to provide an authentic Black Panther experience and allow players to explore the world of Wakanda.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 1:40 pm