Streetbeat News

Partnerships

NSC

Key regulators, including the U.S. Department of Transportation (DOT) and the Surface Transportation Board (STB), have expressed support for Norfolk Southern Corporation's (NYSE: NSC) leadership and strategy, emphasizing the company's focus on safety and service. They have raised concerns about Ancora's plan for NSC, warning it could jeopardize safety and service. The DOT and STB's statements highlight Norfolk Southern's progress in safety and service improvements, while criticizing Ancora's approach and potential impact on the railroad's performance and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:05 pm

MULN

Mullen Automotive, Inc (NASDAQ:MULN) shares surged after announcing a deal with National Auto Fleet Group to sell electric vehicles nationwide, including two all-electric commercial vehicles. The partnership aims to serve national fleet customers and offer Mullen's EVs to public fleets across the U.S. Additionally, Mullen adopted a stockholder rights plan to prevent significant ownership changes without board approval, effective until May 1, 2025.

Portfolio Pulse from Dylan Berman

May 06, 2024 | 5:03 pm

RKT

Rocket Cos. has appointed Shawn Malhotra, a former Thomson Reuters executive, as its new Chief Technology Officer (CTO) to lead its companywide artificial intelligence (AI) efforts. This strategic move aims to unify and accelerate Rocket's AI initiatives across its portfolio, including Rocket Mortgage, Rocket Homes, and Rocket Money. Malhotra's role will focus on data science, product engineering, technology operations, and information security, with a primary emphasis on AI to enhance the home-buying experience. The appointment follows the departure of Rocket Mortgage's CIO, Brian Woodring, and is part of Rocket's broader strategy to integrate technology into its core operations.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:03 pm

CVLC

JPM

PAPI

Crystal Zhu has moved from JPMorgan Chase & Co (JPM) to Morgan Stanley (MS) as co-head of the Asia Pacific technology team, focusing on tech sector M&As and IPOs. This follows high-level exits at Morgan Stanley and comes amid efforts to boost its APAC presence and expand into Bitcoin ETFs. Morgan Stanley recently outperformed analyst revenue and EPS estimates for Q1 2024.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 5:01 pm

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) and Healthcare Realty Trust Incorporated (NYSE:HR) have announced a strategic joint venture to own and invest in medical outpatient buildings, with KKR making an 80% equity contribution and committing up to $600 million to potentially increase the JV's value to over $1 billion. Additionally, KKR has signed agreements to acquire Healthium Medtech Ltd. from an affiliate of Apax Partners LLP. KKR's shares rose 2.82%, and HR's shares increased by 1.31%.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 4:40 pm

KKR

KKR shares are trading higher following the announcement of its acquisition of Healthium and a strategic joint venture with Healthcare Realty Trust. These moves are expected to enhance KKR's position in the healthcare sector.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:28 pm

EWJ

INTC

Intel is forming a team in Japan to focus on automating chip manufacturing processes, according to Nikkei. This move is part of Intel's broader strategy to enhance efficiency and reduce costs in its semiconductor production operations. The initiative in Japan is expected to leverage the country's technological expertise in robotics and automation, areas in which Japan has historically been a global leader.

Portfolio Pulse from Charles Gross

May 06, 2024 | 4:18 pm

DFEN

ITA

Boeing Co (NYSE:BA) is set to launch its Starliner spacecraft, developed with NASA, on its first mission with astronauts to the ISS. The mission is crucial for Boeing's future in space exploration and for obtaining NASA's certification for routine crew rotations. Despite past challenges with Starliner, including software and mechanical issues, this launch is a significant step for Boeing, which has seen its stock decline by 8% over the last year. Investors can also engage with Boeing's performance through ETFs like the iShares U.S. Aerospace & Defense ETF (BATS:ITA) and the Direxion Daily Aerospace & Defense Bull 3X Shares (NYSE:DFEN).

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 4:17 pm

BYND

Beyond Meat has expanded its product portfolio at Whole Foods Market by introducing the Beyond Stack Burger™, a new addition available nationwide. This launch, timed with national burger month, adds to Beyond Meat's extensive range of plant-based meat products at Whole Foods Market. The Beyond Stack Burger is designed for easy cooking and customization, aligning with Beyond Meat's commitment to offering nutritious, sustainable plant-based options.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:02 pm

AMD

NVDA

TSM

TSMC's advanced encapsulation capacity is fully booked by NVIDIA and AMD until next year, driven by high demand in the AI and High-Performance Computing (HPC) markets. TSMC anticipates server AI processor revenue to more than double this year, contributing to a significant portion of its total revenue. The company expects a 50% annual growth rate for server AI processors, projecting they will account for over 20% of TSMC's revenue by 2028.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 3:57 pm