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Partnerships

ITOS

NVAX

OUST

Genpact Limited reported better-than-expected Q1 financial results, leading to a 6.8% rise in its shares. Other companies like Novavax, iTeos Therapeutics, and Sweetgreen also saw significant gains following positive financial results or strategic announcements. The overall market sentiment was positive, with the Dow Jones gaining over 100 points.

Portfolio Pulse from Avi Kapoor

May 10, 2024 | 2:48 pm

BLNK

FDIS

TSLA

XLY

Elon Musk's decision to overhaul Tesla's EV charging team and cut about 500 people may disrupt the Biden administration's EV infrastructure plans. This move has led to a surge in inquiries from landlords to other charging companies and could impact the National Electric Vehicle Infrastructure (NEVI) program's rollout. Tesla's strategy shift may also create opportunities for competitors like Blink Charging. Tesla's stock and exposure through ETFs like XLY and FDIS could be influenced by these developments.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 2:46 pm

IYG

PCGG

Visa Inc. (NYSE:V) shares rose today following the announcement of a collaboration with MoneyHash to enhance digital payment experiences across the MENA region. The partnership leverages Visa's global capabilities and security to offer reliable payment networks. Visa's recent financial performance showed a second-quarter 2024 adjusted EPS of $2.51, attributed to an 8% growth in payment volume. Investors can also gain exposure to Visa through Litman Gregory Funds Trust Polen Capital Global Growth ETF (NYSE:PCGG) and iShares U.S. Financial Services ETF (NYSE:IYG).

Portfolio Pulse from Lekha Gupta

May 10, 2024 | 2:14 pm

DNOW

EVLV

GWAV

ITOS

LIDR

MGNX

NVAX

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. DNOW Inc. reported weaker-than-expected Q1 earnings. Novavax surged 128% after announcing a COVID-19 vaccine licensing agreement with Sanofi. iTeos Therapeutics and AEye also saw significant gains, while MacroGenics, Evolv Technologies, and Greenwave Technology Solutions experienced sharp declines.

Portfolio Pulse from Avi Kapoor

May 10, 2024 | 2:01 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) shares surged on Friday following the announcement of a partnership with Perplexity to enhance its SoundHound Chat AI with conversational AI-powered answer engine capabilities. This collaboration aims to solidify SoundHound's position as a leading voice assistant. Additionally, SoundHound reported a 73% year-over-year increase in top-line results for the first quarter, despite a wider Adjusted EBITDA loss and a contraction in non-GAAP gross margin. The company also reported an adjusted loss per share that beat analyst estimates.

Portfolio Pulse from Nabaparna Bhattacharya

May 10, 2024 | 1:55 pm

NVAX

SNY

Novavax and Sanofi have entered into a co-exclusive licensing agreement to commercialize a COVID-19 vaccine and to develop COVID-influenza combination vaccines. This partnership aims to leverage both companies' resources and expertise to address ongoing and future pandemic challenges.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 1:13 pm

BHP

BHP (NYSE:BHP) and Ivanhoe Electric (NYSE:IE) have formed a partnership to explore copper and other critical minerals in Arizona, New Mexico, and Utah. The collaboration aims to support the energy transition and electrification revolution through the discovery of new mineral sources. The partnership will operate through 50/50 joint ventures in selected areas, with an initial project generation phase funded by BHP with $15 million and utilizing Ivanhoe Electric's Typhoon system for exploration.

Portfolio Pulse from Stjepan Kalinic

May 10, 2024 | 1:10 pm

NVAX

A Novavax executive revealed expectations for data readouts for their combination COVID-Flu shot and standalone Flu vaccine by mid 2025. They also anticipate that royalties and milestones from their deal with Sanofi will surpass the value of their own commercial efforts. The transition from an innovator to a commercial business has been challenging for the company.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 1:06 pm

HYPR

Hyperfine has entered into agreements with distributors in France, the UK, and Italy to expand its market presence in Europe. This strategic move aims to enhance the company's distribution network and increase access to its innovative medical imaging technology in these key European markets.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 1:02 pm

NVAX

A Novavax executive stated during a conference call that they expect royalties and milestones from their deal with Sanofi to exceed the value of what the company's own efforts might have yielded.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 12:49 pm