Streetbeat News

Partnerships

ORCL

Oracle Corporation (NYSE: ORCL) shares are trading slightly higher on Wednesday following reports of a potential $10 billion contract with Elon Musk's AI startup, xAI, for cloud services. Discussions are ongoing, and no agreement has been finalized yet. Oracle's Chairman Larry Ellison previously mentioned the company's work with xAI, highlighting the demand for more computing power. Additionally, Oracle's headquarters may move from Texas to Nashville, though this is not expected to significantly impact operations.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 4:22 pm

NFLX

TTD

Netflix has secured exclusive rights to stream two NFL games on Christmas Day, marking its first venture into live football broadcasting. This move is part of Netflix's strategy to incorporate live programming, enhancing its appeal to advertisers and broadening viewer options. KeyBanc analyst Justin Patterson reiterated an Overweight rating on Netflix with a price target of $705, highlighting the potential for >10% annual revenue growth in 2025 and beyond. The Trade Desk is also mentioned as a potential partner to help Netflix monetize its content spend.

Portfolio Pulse from Anusuya Lahiri

May 15, 2024 | 4:10 pm

MULN

Mullen Automotive (NASDAQ:MULN) shares are trading lower by 7.84% after the company announced partnerships with Ziegler Truck Group and Range Truck Group to expand its reach in the commercial EV market. These partnerships aim to leverage the extensive dealership network and industry expertise of Ziegler and Range to deliver Mullen's electric cargo vans and trucks across the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 4:09 pm

GOOG

GOOGL

Elon Musk recalls breaking his friendship with Google's Larry Page over Ilya Sutskever, a key figure in OpenAI's success. Sutskever recently resigned from OpenAI, but Musk praised him highly. The news highlights past tensions between Musk and Page over AI's impact on humanity.

Portfolio Pulse from Rounak Jain

May 15, 2024 | 3:50 pm

BWMN

Bowman Consulting Group Ltd. (NASDAQ:BWMN) has been selected by the Arizona Department of Transportation to provide engineering and oversight services for a pedestrian and bicycle grade separation project at Arizona State University's Tempe campus. This marks Bowman's first major contract with ADOT, indicating its strategic expansion into public works and transportation markets in the Western U.S. The project is set to begin construction in late 2025.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 3:42 pm

ARCO

Arcos Dorados Holdings Inc. (NYSE: ARCO) shares are trading lower despite reporting a 9.1% increase in total revenues for Q1 2024, slightly beating analyst expectations. The company saw a 38.6% growth in systemwide comparable sales and an 8.4% rise in Adjusted EBITDA. However, earnings per share missed estimates, coming in at 14 cents versus the expected 17 cents. Additionally, Arcos Dorados signed a regional sponsorship agreement with Formula One in Latin America.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 3:26 pm

COST

UBER

Uber has expanded its partnership with Costco to select locations across the U.S., according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 3:07 pm

SKM

Swift Navigation has partnered with SK Telecom to expand AI-powered, location-based products in Korea. The partnership will deploy Swift's Skylark® Precise Positioning Service, enhancing GNSS accuracy for various applications.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 3:04 pm

DLPN

Dolphin Entertainment, Inc. (NASDAQ:DLPN) shares rose after the company announced better-than-expected Q1 earnings. The company reported $15.24 million in revenue, a 54% YoY increase, and a loss of two cents per share, improved from a loss of 23 cents per share last year. Dolphin also highlighted upcoming product launches and partnerships.

Portfolio Pulse from Dylan Berman

May 15, 2024 | 2:44 pm

BLK

IBIT

Vanguard has appointed Salim Ramji, a former BlackRock executive known for his Bitcoin-friendly stance, as its new CEO. Ramji, who previously headed BlackRock's global ETF business and launched the iShares Bitcoin Trust, will succeed Tim Buckley on July 8. This appointment could signal a shift in Vanguard's approach to cryptocurrency.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:40 pm