Streetbeat News

Partnerships

COF

WMT

Walmart Inc. (NYSE:WMT) and Capital One Financial Corporation (NYSE:COF) have ended their exclusive agreement for the Walmart Consumer Credit Cards. Despite the termination, current cardholders will not see immediate changes. Both companies' shares are trading higher following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 3:58 pm

INTC

TSM

President Biden's push for unionization faces a new challenge in the semiconductor industry. The Communications Workers of America (CWA) is preparing for labor negotiations with Micron Technology Inc. (NASDAQ:MU), which is investing $50 billion in New York factories. The United Auto Workers (UAW) is also targeting semiconductor companies. Intel Corp. (NASDAQ:INTC) has been hesitant to engage in union talks. The Biden administration is leveraging the Chips Act to encourage union commitments.

Portfolio Pulse from Shivani Kumaresan

May 24, 2024 | 3:32 pm

AAPL

REAL

RENT

RERE

ATRenew Inc. (NYSE:RERE) reported strong Q1 revenue growth, driven by China's national recycling campaign and strong ties with JD.com (NASDAQ:JD). Despite a 4.2% stock drop on the announcement day, ATRenew's stock has more than doubled since early February. The company benefits from JD.com's recycling initiatives and has seen increased consumer trade-ins. ATRenew's partnerships with JD.com and Apple (NASDAQ:AAPL) have bolstered its performance, with significant gains in its refurbishment business.

Portfolio Pulse from The Bamboo Works

May 24, 2024 | 3:28 pm

MARA

Marathon Digital Holdings has entered into an agreement with the Ministry of Energy and Petroleum of Kenya to support energy utilization and optimize renewable energy projects across the country.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:28 pm

MULN

Mullen Automotive (NASDAQ:MULN) has announced GAMA as a new distribution partner for southeastern Europe, covering the Balkans Region. GAMA's initial order includes 53 commercial EVs. Additionally, Mullen received approval for Foreign Trade Zone status in Mississippi, which offers financial benefits. MULN shares rose by 5.74% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 3:22 pm

OKLO

Oklo Inc. (NYSE:OKLO) shares surged 14.9% after announcing a partnership with Wyoming Hyperscale to supply 100 megawatts of clean power to a data center for 20 years. The companies signed a non-binding letter of intent for a power purchase agreement, emphasizing Oklo's commitment to scalable clean energy solutions.

Portfolio Pulse from Dylan Berman

May 24, 2024 | 3:15 pm

EIS

SPY

USO

Israeli minister Benny Gantz spoke with U.S. Secretary of State Blinken regarding the ICJ ruling on Rafah, as reported by Axios' Barak Ravid.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 2:23 pm

NVDA

SNOW

Snowflake Inc (NYSE:SNOW) missed Q1 profit expectations but surpassed revenue estimates due to strong AI product demand. The company raised its product revenue guidance for fiscal 2025 and expects Q2 product revenue to exceed Wall Street estimates. Snowflake is also expanding its collaboration with Nvidia (NASDAQ:NVDA) and plans to acquire technology assets from TruEra.

Portfolio Pulse from Upwallstreet

May 24, 2024 | 2:09 pm

RENB

Renovaro Inc. and Amsterdam UMC Cancer Center have announced their intention to form a partnership and have signed a Memorandum of Understanding (MoU) to establish a joint company in the Netherlands. This new venture will focus on next-generation personalized cancer immunotherapy.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:21 pm

COF

WMT

Capital One Financial Corporation (NYSE: COF) and Walmart Inc. (NYSE: WMT) have ended their agreement that made Capital One the exclusive issuer of Walmart Consumer Credit Cards. Cardholders can continue to use their cards and earn and redeem rewards as usual.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:16 pm