Streetbeat News

Partnerships

CVS

CVS Health is reportedly seeking an investor to support the expansion of its Oak Street Health clinics, according to Bloomberg. This move is part of CVS's strategy to enhance its healthcare services and expand its footprint in the primary care market.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 6:51 pm

GOOG

GOOGL

META

Alphabet and Meta are offering millions of dollars to partner with Hollywood on AI initiatives, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 6:42 pm

CYTK

RPRX

Cytokinetics and Royalty Pharma have entered a strategic funding collaboration to support the commercialization of aficamten and advance Cytokinetics' cardiovascular pipeline. The deal provides up to $575 million in funding. Cytokinetics also priced a public offering of 9.8 million shares at $51/share, raising approximately $500 million. Analysts note that despite acquisition rumors, Cytokinetics remains focused on its operations, though the stock may experience volatility.

Portfolio Pulse from Vandana Singh

May 23, 2024 | 6:30 pm

LSPD

UBER

Uber Technologies Inc. (NYSE:UBER) shares are moving lower after announcing a new partnership with Lightspeed Commerce Inc. (NYSE:LSPD) to integrate Uber Direct and Uber Eats into Lightspeed’s platform. This partnership will allow Lightspeed merchants to list their offerings on Uber Eats and use Uber Direct for deliveries.

Portfolio Pulse from Dylan Berman

May 23, 2024 | 5:03 pm

NVDA

SNOW

SPRX

Snowflake, Inc (NYSE:SNOW) experienced volatility after its mixed Q1 earnings report, with revenue beating estimates but EPS missing. In contrast, NVIDIA Corporation (NASDAQ:NVDA) surged over 10% post-earnings. Snowflake's CEO hinted at increased collaboration with Nvidia. The Spear Alpha ETF (NASDAQ:SPRX), which holds significant positions in Snowflake, Nvidia, and AMD, is also highlighted as a diversified investment option.

Portfolio Pulse from Melanie Schaffer

May 23, 2024 | 4:59 pm

IDEX

Energica Motor Company, a majority-owned subsidiary of Ideanomics, and Electra have announced a strategic R&D partnership aimed at revolutionizing the electric two-wheeler market.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 4:55 pm

AMZN

FDIS

GOOG

GOOGL

META

NVDA

XLY

Amazon's cloud unit AWS has partnered with AI startup Hugging Face to enhance the efficiency of running AI models on Amazon's custom Inferentia2 chips. This collaboration aims to attract more AI developers to AWS. Amazon, Google, and Nvidia back Hugging Face, which is a key platform for AI researchers. AWS leads the global cloud service market, and Amazon's stock has gained 59% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 4:54 pm

GDRX

KR

RBC Capital Markets has upgraded GoodRx Holdings Inc (NASDAQ:GDRX) from Sector Perform to Outperform, raising the price target from $8 to $10. The upgrade is based on new initiatives like the Integrated Savings Program (ISP), direct contracting (DC), and the expansion of its manufacturing solutions business, which are expected to provide significant growth opportunities. GoodRx has also secured a new direct contracting agreement with Kroger Co. (NYSE:KR), allowing patients to use GoodRx coupons at Kroger Pharmacies for more savings on generics starting June 1.

Portfolio Pulse from Vandana Singh

May 23, 2024 | 4:38 pm

ONMD

OneMedNet Corp. (NASDAQ:ONMD) shares surged by 128% following the announcement of a significant expansion of its iRWD network and platform. The company has entered into new network partnership agreements, including one with a nation-wide medical records custodian, resulting in a network of 1,402 healthcare system and provider partner sites, 31 million patients, and 121.4 million clinical exams. This expansion represents substantial year-to-date growth in partner sites, patients, and clinical exams.

Portfolio Pulse from Erica Kollmann

May 23, 2024 | 4:25 pm

MPW

Medical Properties Trust shares are trading higher following a report suggesting that the company is close to an agreement with financial institutions for a $800 million refinancing deal covering 27 UK hospitals operated by Circle Health on long-term leases.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 4:03 pm