Streetbeat News

Partnerships

AMZN

RIVN

Rivian Automotive reported Q1 earnings with revenue of $1.20 billion, surpassing estimates but missed EPS expectations with a loss of $1.48 per share. Vehicle production and deliveries exceeded forecasts, and the company unveiled R2 and R3 models, targeting the midsize SUV and crossover segment. Rivian reaffirmed its 2024 production guidance and highlighted its partnership with Amazon to deliver 100,000 electric vans. Shares fell 1% in after-hours trading.

Portfolio Pulse from Chris Katje

May 07, 2024 | 8:38 pm

AMZN

META

TSLA

YouTuber MrBeast is giving away 26 Tesla vehicles, including a Cybertruck, to celebrate his 26th birthday. The giveaway is hosted on Instagram, owned by Meta Platforms. The contest is open in multiple countries and offers cash alternatives for the prizes. MrBeast's growing influence is highlighted by his upcoming game show on Amazon's Prime Video, showcasing his significant viewership growth on YouTube over the years.

Portfolio Pulse from Chris Katje

May 07, 2024 | 8:32 pm

BROS

OLO

Dutch Bros (NYSE:BROS) has partnered with Olo (NYSE:OLO), a leading restaurant technology provider, to implement Olo's Order and Pay products at all 850 Dutch Bros locations. This partnership aims to enhance operational efficiency and improve the customer experience by enabling seamless mobile ordering and payment. The rollout, expected to be completed by the end of 2024, will integrate with Dutch Bros' mobile app and rewards program, offering payment options like Google Pay and Apple Pay.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:05 pm

PENN

PENN Entertainment shares are trading higher following the announcement that ESPN Bet, associated with PENN, has been named the official sports betting sponsor of the PGA Championship through 2026. This partnership is expected to enhance PENN's visibility and market presence in the sports betting sector, potentially leading to increased user engagement and revenue growth.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:25 pm

BIDU

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped 3.31% to $178.64 amid news of CEO Elon Musk's visit to China, where he proposed testing Tesla's full self-driving (FSD) capabilities as taxis. The Chinese government showed partial support for the proposal. Additionally, Tesla is in the news for a potential collaboration with Baidu, Inc. (NASDAQ:BIDU) on autonomous driving technologies, though no new deal has been confirmed. Tesla also plans to shut down production in Grünheide for four days due to protests.

Portfolio Pulse from Nabaparna Bhattacharya

May 07, 2024 | 6:11 pm

DIS

PENN

PGA of America has entered into a sports betting partnership with Penn Entertainment, making ESPN Bet the 'Official Sports Betting Sponsor' of the PGA Championship through 2026. This partnership marks a significant collaboration between a major sports organization and a betting company, aiming to enhance the golfing experience with integrated betting opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:05 pm

ATSG

Air Transport Services Group (ATSG) shares are trading higher after the company reported positive Q1 financial results and announced an expansion of its operations in the Amazon Air network.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:57 pm

DIS

IWM

PLTR

TLT

US stocks are on track for a fourth consecutive session of gains despite hawkish comments from Fed's Kashkari, with the S&P 500, Nasdaq 100, and Dow Jones all seeing modest increases. Treasury yields fell, boosting bond ETFs like TLT. Palantir and Disney shares tumbled following disappointing guidance and performance, respectively. Other notable stock movements were influenced by earnings reports and rumors of partnerships.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 5:18 pm

CART

UBER

Maplebear Inc. (NYSE:CART) and Uber Technologies, Inc. (NYSE:UBER) have announced a strategic collaboration to integrate Uber Eats restaurant delivery services into the Instacart platform. This partnership aims to expand service offerings for Instacart, allowing customers to order from a wide range of restaurants directly through the Instacart app. The collaboration is expected to drive more business for restaurants, create more earnings opportunities for couriers, and enhance convenience for users by combining grocery and restaurant delivery services into one platform.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 4:40 pm

PLL

Piedmont Lithium, a supplier to Tesla, has been officially granted a state mining permit by North Carolina after posting a $1M reclamation bond. However, the company still needs to obtain a local zoning variance from Gaston County officials to proceed with its lithium mine project.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:37 pm