Streetbeat News

Partnerships

BURU

NUBURU, Inc. (NYSE:BURU) has been awarded an $850,000 Phase II contract by NASA to advance its blue laser power transmission technology for Lunar and Martian applications. This technology aims to reduce the size and weight of power beaming equipment, offering a unique solution for power management in space. The contract builds on a successful Phase I SBIR project and aligns with NASA's Artemis program goals. NUBURU's technology has potential applications in various sectors including industrial, medical, defense, and more.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:11 pm

CART

CMCSA

ROFDA wholesalers, representing over 2,250 stores in the U.S., have chosen Instacart's Carrot Ads solution to power their new online retail media networks. This collaboration aims to enhance digital advertising capabilities for these stores.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:06 pm

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) announced its April 2024 production and operations updates, highlighting a production of 375 Bitcoin, a decrease from previous months, and significant developments in its mining infrastructure. The company energized its second dedicated Bitcoin mining facility in Corsicana, Texas, and expects to double its hash rate capacity by the end of the year. Riot also detailed its purchase agreements with MicroBT for additional miners, aiming to reach a self-mining hash rate capacity of 41 EH/s by 2025.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:06 pm

ASNS

Actelis Networks, Inc. (NASDAQ:ASNS) has completed a new order for the City of Bakersfield, CA, providing a hybrid-fiber solution to modernize the city's traffic management system. This follows a recent $2.3 million order from the Washington D.C. Department of Transportation. Actelis' technology will support Bakersfield's street safety initiatives by enabling fiber-grade network connectivity for real-time communication between the traffic operations center and traffic controllers at intersections. The solution leverages existing copper infrastructure while offering a path to future fiber upgrades, representing a cost-effective, long-term investment for the city.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:50 pm

HD

IYM

NFLX

Netflix reported a Q1 revenue of $9.37 billion, up 14.8% YoY, beating estimates with EPS of $5.28. Home Depot, with a 2.6% dividend yield, is expected to report Q1 earnings of $3.6 per share, up from last year, and continues its collaboration with Google Cloud. iShares U.S. Basic Materials ETF was highlighted as a final trade. NFLX, HD, and IYM shares saw gains in their last trading session.

Portfolio Pulse from Avi Kapoor

May 06, 2024 | 12:46 pm

AFRI

Forafric Global PLC (NASDAQ:AFRI) has announced a 10-year renewable agreement to lease and operate a milling facility in Morocco, aiming to increase its milling capacity by 600 tons per day. This expansion, expected to commence in Q3 2024, is seen as a strategic move to enhance Forafric's operational footprint and crushing capacity with minimal capital investment. The agreement is pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:42 pm

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