Streetbeat News

Partnerships

SUPN

M8 Pharmaceuticals has entered into an exclusive licensing agreement with Supernus Pharmaceuticals (NASDAQ:SUPN) to seek regulatory approval and commercialize Qelbree, a non-stimulant ADHD medication, in Latin America. Qelbree is approved in the US for treating ADHD in adults and children aged 6 and older. This partnership aligns with Acino's mission to expand access to innovative medicines in Latin America and strengthens its position in the CNS therapeutic area. Supernus has chosen M8 as a partner for Qelbree's regulatory approval and commercialization in Mexico and Brazil, highlighting the company's commitment to addressing ADHD treatment challenges globally.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 2:03 pm

CNTY

NRGV

Energy Vault announced the successful testing and commissioning of the world's first commercial, grid-scale gravity energy storage system, the Rudong 25 MW/100 MWh EVx system, by China Tianying (CNTY) on May 4. The event was marked by the presence of Chen Huiyu, Secretary of the County Party Committee. This follows the mechanical completion in September 2023 and successful state grid interconnection in December 2023. Additionally, Energy Vault has extended its licensing agreement with Atlas Renewable for the EVx gravity energy storage system technology from 7.5 to 15 years, with over 3.7GWh of projects in China underway.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:59 pm

CELH

Celsius Holdings (NASDAQ:CELH) has seen significant options trading activity, indicating a divided sentiment among large investors, with 50% bullish and 37% bearish. The trading suggests a price target range of $50 to $90. The company, known for its energy drinks, has a 20-year distribution deal with PepsiCo. Recent analyst ratings include a Buy from Stifel with a target of $85 and an Outperform from Wedbush with a target of $100. CELH's stock is currently at $75.73, with neutral RSI indicators and earnings expected imminently.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 1:47 pm

AAPL

TSM

Apple Inc (AAPL) shares rose following a Wall Street Journal report on its AI chip development for data centers, named Project ACDC, in collaboration with Taiwan Semiconductor Manufacturing Company Ltd (TSM). The chips, focused on running AI models, signal Apple's deeper move into AI, with potential updates expected at its Worldwide Developer Conference. Additionally, Apple's stock forecast for 2030 suggests a potential price of $691.41, based on its past five-year annualized performance of 30.34%.

Portfolio Pulse from Adam Eckert

May 07, 2024 | 1:46 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares fell after reporting mixed Q1 results, with revenue exceeding estimates but an adjusted loss per share missing expectations. The company delivered more vehicles than the previous year but produced fewer. Lucid raised $1 billion, ending the quarter with $5.03 billion in liquidity. CEO Peter Rawlinson highlighted Lucid's technology and partnership with the PIF as differentiators. The company aims to produce 9,000 vehicles in 2024 and is focusing on cost optimization and significant growth. Needham analyst Chris Pierce maintained a Hold rating on LCID.

Portfolio Pulse from Adam Eckert

May 07, 2024 | 1:45 pm

AAOI

META

FibeReality's Mark Lutkowitz revealed on LinkedIn that Applied Optoelectronics has potentially secured a second hyperscaler account with META, indicating a significant business development for the company.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:43 pm

IPWR

Ideal Power Inc. (NASDAQ:IPWR) has entered into an agreement with a global leader in circuit protection, industrial fuses, and power conversion electronics to test and evaluate its B-TRAN bidirectional semiconductor power switch. This collaboration aims to explore B-TRAN's application in various industrial markets such as renewable energy, energy storage, rail/transportation, and electric vehicle (EV) power management. The partnership could lead to design wins or a customer development agreement, leveraging B-TRAN's advantages in efficiency and system cost reduction.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:28 pm

DIS

NFLX

Disney's CEO announced during a conference call that the company is now considering licensing content to Netflix with a more open mind. Additionally, Disney is exploring other selective licensing opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:25 pm

IAC

MSFT

Dotdash Meredith (DDM), America's largest digital and print publisher, has entered into a strategic partnership and licensing agreement with OpenAI to enhance ChatGPT with content from DDM's 40+ media brands, including PEOPLE and Better Homes & Gardens. This collaboration will also involve the development of new AI products and the enhancement of DDM's cookieless ad targeting solution, D/Cipher, with AI capabilities. The partnership aims to provide ChatGPT users with trusted content and improve ad performance for advertisers by leveraging OpenAI's technology.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:24 pm

CBSTF

CRLBF

Workers at the Cannabist Company in North Hollywood and Studio City, Los Angeles, have voted to join Teamsters Local 630 to improve pay, working conditions, and gain respect in the workplace. This follows a trend in the cannabis industry where workers are increasingly organizing, as seen with recent unionization efforts at Cresco Labs and Verano Holdings Corp among others. The move aims to secure better terms through collective bargaining, reflecting growing organizing momentum within the industry.

Portfolio Pulse from Nina Zdinjak

May 07, 2024 | 1:23 pm