Streetbeat News

Partnerships

AU

Latin Metals Inc. has updated on its Organullo Project in Argentina, revealing results from an airborne magnetic and radiometric survey conducted by AngloGold Ashanti plc's subsidiary. The survey identified a high-priority structural corridor for drill testing. Under an existing agreement, AngloGold has the option to earn up to an 80% interest in the Organullo Project.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:40 pm

LAZR

MOON

ROBT

Luminar Technologies, Inc. (NASDAQ:LAZR) is reducing its workforce by 20% and shifting towards an asset-light model to scale production, causing its stock to drop by as much as 13% on Monday. The restructuring includes a partnership with TPK Holding and aims to lower operating costs by $50 million-$65 million annually. Despite shipping lidar sensors to Volvo and a deeper partnership with TPK Holding, a BofA Securities analyst downgraded the stock due to weaker EV demand and a potential need to raise $1 billion in capital. LAZR stock has lost over 74% in the last 12 months. Investors can also gain exposure to LAZR through Direxion Moonshot Innovators ETF (NYSE:MOON) and First Trust Nasdaq Artificial Intelligence And Robotics ETF (NASDAQ:ROBT).

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 12:40 pm

SVMH

SRIVARU Holding Limited (NASDAQ: SVMH, SVMHW) announced the completion of its PRANA 2.0 electric motorcycle's production model, following successful internal testing. The model, which boasts a 20% longer driving range of up to 250km on a single charge, has been submitted for final certification. The company has also established a complete supply network for the PRANA 2.0's production. CEO Mohanraj Ramasamy highlighted the milestone's significance and the company's focus on precision engineering, quality control, and strong strategic partnerships.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:39 pm

AIM

AIM ImmunoTech Inc. has successfully completed the cGMP manufacturing of 9,042 clinical vials of Ampligen, a product candidate for cancers, viral diseases, and immune disorders. This milestone is part of AIM's development and commercial strategy, with Ampligen being evaluated in various clinical trials for solid tumor treatments. The company emphasizes the importance of this achievement in seeking commercial partners and preparing for ongoing and upcoming trials.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:38 pm

MOBX

Mobix Labs, Inc. (NASDAQ:MOBX) has entered into a global distribution agreement with Arrow Electronics to focus on EMI Filtering products for the defense and aerospace markets. This partnership leverages Arrow's extensive distribution network and deep relationships in these sectors, aiming to increase Mobix Labs' visibility and customer base. Mobix Labs' products, which comply with various military standards, are already being used in significant U.S. military programs. The collaboration is seen as a strategic move to enhance Mobix Labs' growth in the defense and aerospace industries.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:36 pm

BABA

CGRO

MA

PGJ

Alibaba Group's fintech affiliate Ant Group is expanding its global reach with Alipay+, aiming to unify mobile payments worldwide. Launched in 2020, Alipay+ connects 88 million merchants across 57 countries to over 1.5 billion consumer accounts from 25+ e-wallets and banking apps. The platform facilitates payments with users' home-country apps abroad, partnering with services like SGQR and ZeroPay. Ant Group's strategy includes investments in Southeast Asia and expansions into Europe and the Middle East. Mastercard Inc has partnered with Alipay to enhance cross-border remittance capabilities. Despite Alibaba's stock decline over the last 12 months, analysts remain positive about its potential for recovery and growth in cross-border volumes and the public cloud market.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 12:32 pm

HDSN

Hudson Technologies has signed a licensing agreement with Chemours, allowing Hudson to sell reclaimed refrigerants under the Freon brand, including R-11, R-12, R-123, and R-122. This agreement also permits Hudson to use the Freon brand name in its sales.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:31 pm

COIN

Coinbase Inc. (NASDAQ:COIN) has expanded its Global Advisory Council by adding former mayors Antonio Villaraigosa and Keisha Bottoms to leverage their political and policy-making expertise. This move aims to advance Coinbase's mission of promoting economic freedom worldwide, with a focus on bridging the gap between policymakers and the underbanked sectors of the American populace. The appointments are seen as crucial for guiding Coinbase in strategic decisions impacting global economic policies, especially in the context of increasing attention on the regulatory landscape for digital assets.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 12:14 pm

RTX

Raytheon, an RTX business, has developed an advanced ground system for space-based missile warning, now operational at the U.S. Space Force's OBAC. The system, named FORGE MDPAF, is a modular framework designed for rapid integration of applications to process satellite data for missile warning. It supports data from the Space Based Infrared System and future Next Gen OPIR constellation, with plans to expand its capabilities for broader space data processing needs.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:14 pm

BIGC

BigCommerce (NASDAQ:BIGC) has appointed Travis Hess, a former Accenture ecommerce leader, as its new president to drive top-line growth and profitability. Hess brings extensive experience from the ecommerce and technology industry, having held senior leadership positions and served on partner advisory boards for major platforms like Shopify and SAP/Hybris. Additionally, BigCommerce has strengthened its sales team by hiring Thom Armstrong as vice president of Americas enterprise sales, who brings nearly two decades of experience in commerce, content, and payments technology.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:13 pm