Streetbeat News

Partnerships

FSRN

Fisker Inc (OTCPK: FSRN), facing bankruptcy fears, is expanding its U.S. presence with six new dealership locations in California, Missouri, Guam, and Pennsylvania. Despite financial struggles, including being delisted from the NYSE and warning of potential bankruptcy, Fisker continues to grow its dealer network, now totaling twelve locations. The expansion highlights California as a key market for Fisker, amidst efforts to preserve and raise capital.

Portfolio Pulse from Anan Ashraf

May 03, 2024 | 11:44 am

COST

Costco Wholesale (NASDAQ:COST) is offering up to $2,000 incentives for Costco members on select EVs from Volvo, Polestar, Chevrolet, and Cadillac through its auto program. The offer, valid from May 1 to July 31, includes discounts on specific models, including the Polestar 2, Cadillac Lyriq, Chevrolet Blazer EV, and Chevrolet Equinox EV. This initiative marks the first time Costco's Auto Program has provided incentives for all four brands simultaneously, aiming to enhance the purchasing power of Costco members towards EVs.

Portfolio Pulse from Anan Ashraf

May 03, 2024 | 11:26 am

PLUG

Plug Power has signed a Memorandum of Understanding (MOU) with Allied Green Ammonia (AGA) to supply 3GW of electrolyzers for a green ammonia production facility. The agreement includes initiating a Basic Engineering and Design Package (BEDP), with the BEDP expected to advance by mid-May this year. A final investment decision is planned for Q4 2025, and the delivery of the electrolyzers is set to begin in Q1 2027.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:04 am

AXIL

AXIL has entered into a distribution agreement with Kinsey's for the distribution of its hearing protection and enhancement products. This partnership aims to expand AXIL's market reach and availability of its products to a wider audience through Kinsey's extensive distribution network.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:03 am

IBRX

ImmunityBio's stock is trading higher following the announcement of an exclusive global arrangement with the Serum Institute of India for the supply of Bacillus Calmette-Guerin.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:53 am

MSFT

OpenAI CEO Sam Altman has declared a strong commitment to developing artificial general intelligence (AGI), stating financial costs, which could range from $500 million to $50 billion, are not a concern. Microsoft Corp. (NASDAQ:MSFT), as OpenAI's largest investor, has invested $13 billion in the AI startup. Altman's focus is on creating significant societal value through AGI, despite the high costs and challenges, including a lawsuit from Elon Musk alleging profit maximization for Microsoft.

Portfolio Pulse from Rounak Jain

May 03, 2024 | 9:58 am

ANPCY

AZN

ANGLE has signed a supplier agreement with AstraZeneca to develop a Parsortix-based androgen receptor (AR) detection assay for prostate cancer studies, valued at £550,000. The development will occur in ANGLE's UK labs, aiming for completion in Q1 2025. Success could highlight Parsortix's role in evaluating prostate cancer treatments and promise ongoing business for ANGLE in supporting clinical studies.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:06 am

AAPL

Apple Inc. CEO Tim Cook hinted at significant AI developments in 2024 during the Q2 earnings call, emphasizing substantial investments in AI technologies without providing specifics. Cook highlighted Apple's strengths in hardware, software, and privacy, and mentioned AI's role in enhancing Apple Watch features. Apple's Q2 2024 revenue was $90.8 billion, a 4% decrease from the previous year. The company's AI strategy, including potential collaborations with OpenAI and Google, is highly anticipated, with the WWDC developer conference expected to reveal more.

Portfolio Pulse from Ananya Gairola

May 03, 2024 | 2:08 am

LLAP

Terran Orbital Corporation (NYSE:LLAP), a leader in satellite solutions for aerospace and defense, is conducting a strategic review to maximize shareholder value, exploring all options. The company values its partnership with Lockheed Martin under a Strategic Cooperation Agreement until 2035.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:50 pm

AMGN

ARWR

RPRX

Amgen Inc. (NASDAQ:AMGN) reported Q1 earnings of $3.96 per share, surpassing estimates and showing a 21.98% increase in sales year-over-year. The company's operating income rose to $3.1 billion despite a slight decrease in operating margin. Amgen also announced a $50M milestone payment to Arrowhead Pharmaceuticals (NASDAQ:ARWR) from Royalty Pharma (NASDAQ:RPRX) for the Phase 3 trial of olpasiran. Amgen's stock rose 11.7% after-hours to $311.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 9:44 pm