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Partnerships

KO

MSFT

PEP

PepsiCo Inc (NASDAQ:PEP) exceeded Q1 earnings and revenue expectations despite weaker U.S. demand and Quaker Oats recalls. Revenue grew 2.3% to $18.25 billion, and net income reached $2.04 billion. However, Pepsi shares fell 2% due to concerns over the struggling domestic market. Volume was pressured, with the beverage segment flat and food division volume down 0.5%. The North American Quaker Food division saw a 22% volume drop due to recalls. Despite domestic challenges, international segments showed growth. Pepsi reaffirmed its full-year outlook for organic revenue growth and core constant currency earnings per share increase. Meanwhile, The Coca Cola Company (NYSE:KO) announced a strategic partnership with Microsoft Corporation (NASDAQ:MSFT) to accelerate cloud and AI development, posing potential competition for Pepsi.

Portfolio Pulse from Upwallstreet

April 25, 2024 | 10:49 am

AULT

Ault Alliance's subsidiary, Sentinum, has entered into its first non-mining colocation/hosting agreement, leveraging the Tier 3 section of its roughly 100,000 square foot enterprise-class data center. This marks a significant expansion of Sentinum's service offerings beyond its traditional mining operations.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:42 am

BKNG

WEX

WEX has secured a new long-term agreement with Booking.com, effective April 2024, to continue as the preferred virtual card provider, supporting Booking.com's vision to simplify transactions in the travel industry. This partnership, which began in 2013, has WEX processing global payments for Booking.com.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:26 am

MU

Micron Technology has signed a preliminary memorandum with the Biden-Harris Administration for $6.1B in funding under the CHIPS and Science Act. This funding will support Micron's $50B investment in U.S. memory manufacturing in Idaho and New York through 2030, including the construction of three leading-edge memory fabs.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:36 am

EWC

HMC

Bloomberg reported that Honda is planning an $11 billion investment in electric vehicles, which includes receiving government aid from Canada. This strategic move is part of Honda's broader initiative to expand its electric vehicle (EV) lineup and production capabilities, signaling a significant commitment to the EV market.

Portfolio Pulse from Charles Gross

April 25, 2024 | 9:27 am

USB

U.S. Bancorp's subsidiary, Elavon, has partnered with FreedomPay to revolutionize payments in the European hospitality and retail sectors. This collaboration aims to enhance payment solutions and customer experience across Europe.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:48 am

ALSN

Allison Transmission's 3414 RHS and 4000 Series transmissions have been selected as the exclusive fully automatic options for International Truck's new S13 models, specifically in the RH and HX Series trucks. This partnership highlights Allison's continued leadership in the transmission industry and its role in powering heavy-duty vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:44 am

WBA

Walgreens has expanded its specialty pharmacy offerings by launching new Gene and Cell Therapy Services and integrating AllianceRx. This move is part of the company's strategy to leverage its neighborhood pharmacies into rapidly growing healthcare sectors, including the establishment of a new Pharmacy and Innovation Center.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:21 am

HYMTF

Hyundai Motor Group's Executive Chair Euisun Chung visited India to discuss the company's mid- to long-term mobility strategies, aiming to solidify its position as a leading mobility provider. The group plans to increase Hyundai Motor India's annual production to one million units by 2025 and, combined with Kia India, reach a total annual production capacity of 1.5 million units. The visit also focused on expanding the electrification strategy to strengthen leadership in the Indian EV market, including increasing local EV production and creating an EV ecosystem. A town hall meeting was held to share visions and strengthen trust with employees, attended by approximately 400 local employees in person and over 3,000 via video.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:18 am

DOOO

BRP's subsidiary, Juniper Re, has entered into a multi-year collaboration with ICEYE to enhance flood and wildfire data analysis. This partnership aims to improve risk assessment and disaster response through ICEYE's satellite technology.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:46 am