Streetbeat News

Partnerships

NSANY

RNLSY

VWAGY

Volkswagen has exited discussions with Renault on a joint affordable EV project. Renault will continue developing the electric Twingo independently, while Volkswagen plans its own low-cost EV strategy. This development highlights the competitive pressure from Chinese automakers in the European market.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 3:52 pm

RENA.PA

VLKAF

VWAGY

Volkswagen and Renault have ended talks to jointly develop an affordable electric version of the Twingo car. This decision could impact both companies' strategies to compete with Chinese EV manufacturers. Volkswagen may now develop its own affordable EV, while Renault will continue its Twingo project independently.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:41 pm

GOOG

IBM

RDDT

Reddit Inc (NYSE:RDDT) saw a 13.74% increase in its stock price following the announcement of a partnership with ChatGPT. The news drew mixed reactions, with some users comparing it to IBM Watson's past issues, while others highlighted the potential benefits of integrating real user opinions into AI. The integration could open new revenue streams and align Reddit with Google's search ranking strategies.

Portfolio Pulse from Surbhi Jain

May 17, 2024 | 3:37 pm

AMD

AOTG

INTC

MSFT

NVDA

SPRX

AMD stock is trading higher due to reports that Microsoft may use AMD's AI chips for its cloud services. AMD is gaining market share in the x86 processor market and is seen as a strong competitor to Nvidia. AMD's R&D investment has significantly increased, and the company is expected to make major announcements at Computex. Investors can gain exposure to AMD through the AOT Growth And Innovation ETF and the Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 2:54 pm

NIO

NIO Inc. (NYSE:NIO) shares are climbing higher after news that China FAW is set to join Nio's battery swap alliance. This alliance, which now includes seven members, aims to expand significantly, with Nio planning to increase its battery swap stations to 2,416 this year and envisioning over 10,000 stations in the future. Nio's founder, William Li, sees potential for the battery swap service beyond the premium segment.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 2:53 pm

AMZN

GOOG

GOOGL

MSFT

UBER

TikTok is testing the ability for users to upload 60-minute videos, challenging platforms like YouTube. This move could allow for full TV episodes on TikTok and enhance user experience with features like horizontal full-screen viewing. The news also mentions Amazon's Twitch, Microsoft's LinkedIn, and Uber Eats exploring similar short-form video features.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 2:40 pm

SPY

VGK

Treasury Secretary Janet Yellen will discuss with European banks and G7 colleagues ways to cut off financing from Russia and tighten sanctions. G7 countries are progressing towards a consensus on a plan to use Russian assets to provide more money to Ukraine. Yellen will deliver remarks in Frankfurt on the importance of the transatlantic alliance, disrupting Russia's war machine, and developing clean energy.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 2:34 pm

SPY

VGK

Treasury Secretary Janet Yellen aims to reach a consensus with G7 finance officials on a plan for Russian assets ahead of the G7 summit in June. Additionally, Yellen will discuss the need to address China's excess industrial capacity in key sectors and new U.S. tariffs on electric vehicles (EVs), solar, and semiconductors at the G7 meeting.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 2:34 pm

BKIV

RDDT

Reddit, Inc. (NYSE:RDDT) shares are trading higher following a partnership with OpenAI to integrate ChatGPT with Reddit threads and introduce new AI-powered features. The collaboration also includes advertising efforts. OpenAI will gain access to Reddit's Data API, enhancing its tools' ability to understand and display Reddit content. Reddit shares have surged over 40% in the past month. Investors can gain exposure to Reddit stock via BNY Mellon Innovators ETF (NASDAQ:BKIV).

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 2:32 pm

OLO

Olo Inc. has expanded its partnership with TRAY to offer Olo Pay card-present payment processing via POS and integrate with the Olo Engage product suite.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 1:06 pm