Streetbeat News

Partnerships

LCID

Lucid Group, Inc. (NASDAQ:LCID) reported Q1 financial results with revenue of $172.7 million, surpassing estimates but with a larger per-share loss than expected. Production decreased compared to last year, but deliveries increased. The company highlighted its liquidity strength and partnership with PIF, maintaining its production target for 2024 and emphasizing cost optimization and sales momentum.

Portfolio Pulse from Chris Katje

May 06, 2024 | 8:21 pm

CHDN

CMCSA

DKNG

FLUT

The 150th Kentucky Derby, won by underdog Mystik Dan, set records with 16.7 million viewers and a $320.5 million betting handle. NBC, owned by Comcast Corporation (CMCSA), and Churchill Downs Inc (CHDN) extended their coverage deal through 2032. TwinSpires, owned by Churchill Downs, also saw record wagers. Partnerships with Flutter Entertainment (FLUT) and DraftKings Inc (DKNG) were highlighted, with FanDuel offering promotions. CHDN stock rose 1.45% following the event.

Portfolio Pulse from Chris Katje

May 06, 2024 | 8:20 pm

FTHM

Fathom Holdings Inc. (NASDAQ:FTHM) has sold its insurance business, Dagley Insurance, to its founder Nathan Dagley for $15M, aiming to strengthen its financial position and support growth. The deal includes $8M upfront and $7M over 24 months. Dagley Insurance will continue supporting Fathom Realty's agent network in 47 states, ensuring no change in service for Fathom Realty's agents. This strategic move is expected to provide Fathom with capital to navigate future challenges and pursue growth opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:13 pm

FPX

LYFT

MILN

TSLA

UBER

Morgan Stanley analyst Brian Nowak reaffirmed an Overweight rating on Uber Technologies, Inc. (UBER) with a $90 price target, citing its attractive growth-adjusted multiple compared to Lyft, Inc. (LYFT), Maplebear Inc. (CART), and others. Nowak highlighted Uber's potential for growth and profitability, leveraging its multi-product rides and cross-platform strategies. Concerns about competition from autonomous driving technologies, notably Tesla Inc.'s (TSLA) advancements, were also mentioned. Uber's stock has seen significant growth, and exposure to UBER can be gained through ETFs like First Trust US Equity Opportunities ETF (FPX) and Global X Millennial Consumer ETF (MILN).

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 7:50 pm

WBD

Warner Bros Discovery CEO David Zaslav announced at the Milken Conference that the company is in 'constructive negotiations' with the NBA. This statement indicates ongoing discussions that could potentially impact the company's future content offerings and partnerships.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:28 pm

CLLS

Cellectis shares are trading higher following the announcement of the completion of an additional equity investment by AstraZeneca.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 6:34 pm

INTC

The Biden administration's $280 billion CHIPS and Science Act aims to advance semiconductor technology by focusing on digital twins and establishing the CHIPS Manufacturing USA institute. This initiative will foster collaboration and resource-sharing among companies like Intel and Micron, which are among the beneficiaries of the act. The act supports the development of physical semiconductors and their virtual representations, enhancing innovation and training for the American workforce in this sector.

Portfolio Pulse from Franca Quarneti

May 06, 2024 | 5:46 pm

AMD

INTC

NVDA

The Biden-Harris Administration announced a $285M funding opportunity for a CHIPS Manufacturing USA institute to develop digital twins technology for the semiconductor industry. This initiative, part of the 2022 Chips and Science Act, aims to advance U.S. chip technology and reduce dependence on international supply chains. Leading chipmakers like Nvidia, AMD, Intel, and Micron are involved, with Intel in talks for over $10B in subsidies and Micron signing a PMT for $6.1B in funding.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 5:41 pm

PEP

TSLA

WMT

A Tesla Semi with Walmart branding was spotted at a Walmart location, indicating a possible delivery of the electric truck to one of the world's largest retailers. Walmart has ordered hundreds of Tesla Semi units, though the exact number of deliveries remains unknown. Tesla has also delivered units to PepsiCo, highlighting the growing interest in Tesla's electric trucks. The sighting was well-received on social media, suggesting potential for increased production and feedback from major customers like Walmart. Tesla aims for high-volume production of the Semi, with deliveries expected to ramp up by late 2025 into 2026, supported by the expansion of Gigafactory Nevada.

Portfolio Pulse from Chris Katje

May 06, 2024 | 5:21 pm

GOSS

Gossamer Bio Inc (NASDAQ:GOSS) has partnered with Italy's Chiesi Farmaceutici to develop and commercialize seralutinib for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The collaboration aims to advance lung health solutions globally, with both companies sharing development costs and commercial profits in the U.S. Chiesi will lead commercialization outside the U.S. and pay Gossamer up to $486 million in development, regulatory, and sales milestones.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 5:17 pm