Streetbeat News

Partnerships

AAPL

ATVI

GOOGL

IYW

MSFT

XLK

Microsoft Corp is set to launch a web-based mobile gaming store in July, challenging the dominance of Apple Inc. and Alphabet Inc's Google. The store will initially feature Microsoft's games, including discounts on in-game items, with plans to expand to other publishers. This move, facilitated by the EU's Digital Markets Act, aims to bypass the traditional app store fees and is bolstered by Microsoft's acquisition of Activision Blizzard Inc.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 9:55 am

GOOG

Elon Musk's X, formerly Twitter, now allows users to post up to 4-hour-long videos, targeting content creators to monetize their movies, TV shows, and podcasts on the platform. This move is part of Musk's vision to transform X into an 'everything app', expanding its features beyond social media. Despite Musk's invitation to YouTubers like MrBeast, a Benzinga analysis suggests Alphabet Inc.'s YouTube remains a better platform for content creators.

Portfolio Pulse from Rounak Jain

May 10, 2024 | 9:41 am

SNDA

Sonida Senior Living has appointed Max Levy as its Chief Investment Officer, a newly created position, and announced that Lilly H. Donohue will join its Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 9:33 am

AAPL

Apple Inc.'s Vision Pro headset is gaining popularity among surgeons in India for performing 'keyhole' surgeries, with over 30 procedures already conducted. The device's real-time data display and communication capabilities are highlighted as key benefits for medical applications. This adoption in healthcare, along with its expansion into other markets and functionalities, underscores the diverse potential of the Vision Pro.

Portfolio Pulse from Ananya Gairola

May 10, 2024 | 7:43 am

AAPL

Apple, Inc. is reportedly developing in-house artificial intelligence (AI) chips, aiming for a significant presence in the AI field. Wedbush analyst Daniel Ives highlighted the company's strategic positioning ahead of its World Wide Developers Conference (WWDC), where Apple is expected to unveil its AI strategy. Ives anticipates an AI-driven super-cycle beginning with the iPad lineup and continuing with the AI-powered iPhone 16, alongside the launch of an AI App Store. He maintains an Outperform rating on Apple with a $250 price target.

Portfolio Pulse from Shanthi Rexaline

May 10, 2024 | 7:28 am

NVAX

Novavax has updated its Full Year 2024 Financial Guidance, now expecting combined revenue and Sanofi agreement payments to range between $970M and $1.17B, up from the previous forecast of $800M to $1B. Additionally, the company anticipates combined R&D and SG&A expenses to be between $700M and $750M, a slight improvement from the prior estimate of $700M to $800M.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:23 am

NVAX

SNY

Novavax and Sanofi have entered into a co-exclusive licensing agreement to co-commercialize a COVID-19 vaccine and develop COVID-19-Influenza combination vaccines. The deal includes a $1.2 billion investment in Novavax, comprising a $500 million upfront payment and up to $700 million in additional milestones, plus tiered royalties. Novavax will also receive up to $200 million in milestones and royalties for each additional vaccine developed using its adjuvant technology. This partnership aims to enhance access to protein-based, non-mRNA COVID-19 vaccines from 2025 and accelerate the development of a novel combination vaccine.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:10 am

AVGO

INTC

QCOM

China's Semiconductor Manufacturing International Corp (SMIC) reported a significant drop in profit margin to a 15-year low, despite a 19.7% revenue increase in Q1 2024. The decline to 13.7% is attributed to U.S. export controls and expansion costs. SMIC anticipates further margin declines as it focuses on meeting demand from clients like Huawei. U.S. firms Intel, Broadcom, and Qualcomm continue to see significant revenue from China despite geopolitical tensions.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 2:58 am

GOOG

GOOGL

MSFT

OpenAI, known for its ChatGPT product, is reportedly set to announce an AI-powered search product, potentially ahead of Google's I/O conference. This move could intensify the rivalry with Alphabet Inc.'s Google, which also plans to unveil AI-related products. OpenAI's search product, an extension of ChatGPT, aims to provide accurate, real-time web information. Microsoft Corporation, having invested significantly in OpenAI, previously integrated ChatGPT with Bing for paid subscribers. Google and Microsoft are enhancing their search engines with generative AI features, amidst a competitive landscape that includes other AI search initiatives.

Portfolio Pulse from Ananya Gairola

May 10, 2024 | 1:51 am