Streetbeat News

Partnerships

PLUG

Plug Power Inc (NASDAQ:PLUG) reported a significant decline in Q1 fiscal 2024 net revenue by 42.8% YoY to $120.264 million, missing consensus estimates. The company faced a larger net loss and expanded operating losses compared to the previous year. Despite these challenges, Plug Power is optimistic about future margins, citing improvements in gross margins for certain segments and expecting positive impacts from recent price increases and cost reduction actions. The company also highlighted operational progress with 20 electrolyzer systems undergoing commissioning and a new partnership with Allied Green Ammonia for a hydrogen-to-ammonia facility in Australia.

Portfolio Pulse from Akanksha Bakshi

May 09, 2024 | 2:12 pm

BABA

ONLN

PGJ

Alibaba Group Holding Limited (NYSE:BABA) announced the release of its new AI model, Tongyi Qianwen Qwen2.5, through Alibaba Cloud, claiming superior language skills over OpenAI's GPT-4. The model has seen over 90,000 deployments and aims to leverage the surge in generative AI development. Despite outperforming GPT-4 in language creation, it may lag in other areas. Alibaba Cloud has attracted over 2.2 million corporate users for its AI services and has made significant price cuts in its cloud services. Alibaba's stock is accessible through ETFs like the Invesco Golden Dragon China ETF (NASDAQ:PGJ) and the ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

May 09, 2024 | 1:42 pm

ABVC

ABVC Biopharma has entered into a collaboration with Oncox Biopharma, granting Oncox exclusive rights to develop, manufacture, and commercialize one of ABVC's four oncology pipeline products, Blex 404. ABVC expects to receive an aggregate income of $13.75 million and up to $12.50 million in royalties from this deal.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:41 pm

TOON

Kartoon Studios, Inc. (NYSE:TOON) has entered into a partnership with GFM Animation Limited to develop, finance, and produce five animated feature films from the Stan Lee Universe. This deal marks a significant step in utilizing the extensive catalogue of characters and stories created by Stan Lee. The collaboration aims to appeal to a broad audience and families, with the first three treatments to be presented at the upcoming Cannes Film Festival.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:41 pm

CAPR

Capricor Therapeutics announced it will present new preclinical data on its StealthX exosome platform at the ASGCT 27th Annual Meeting, highlighting its potential in treating arginase-1 deficiency (ARG1-D), a rare genetic metabolic disease. The findings suggest the platform's capability for enzyme-replacement therapies, aiming to replace deficient or absent enzymes. The company aims to leverage partnerships to advance therapeutic and vaccine development using this technology.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:39 pm

CDZI

Cadiz, Inc. has partnered with MZ Group to enhance its investor relations and financial communications strategy. This move comes at a critical inflection point under the new leadership of Susan Kennedy, highlighted by significant permitting and contracting milestones. Additionally, a recent Form 4 filing revealed the CEO's purchase of Cadiz shares, aligning interests with shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:30 pm

MSGM

Motorsport Games Inc. (NASDAQ:MSGM) has launched RaceControl.gg, a platform aimed at boosting player engagement for its game Le Mans Ultimate, and announced a partnership with Coach Dave Academy for content and development management. This collaboration will bring expert-curated content and optimized car setups to enhance the gaming experience.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:29 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has announced a partnership with Affiliated Services Group (ASG) to offer mortgage banking services across 49 states in the U.S. through its Xene platform. This collaboration aims to leverage ASG's expertise in mortgage banking to provide sustainable financial solutions to homeowners nationwide, with the goal of revolutionizing the industry with safe, sustainable, and customer-centric solutions.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:23 pm

SVRE

SaverOne has expanded its collaboration with IVECO, focusing on implementing its Vulnerable Road User Solution to enhance road safety. This partnership aims to integrate SaverOne's technology into IVECO's vehicles, potentially reducing accidents involving vulnerable road users such as pedestrians and cyclists. The collaboration underscores both companies' commitment to leveraging technology for road safety improvements.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:18 pm

SRM

SRM Entertainment, Inc. (NASDAQ:SRM) announced a new order for over 30,000 colorful misting fans from one of the world's largest regional amusement-resort operators. This order is part of SRM's expansion efforts and aims to enhance guest experiences during the summer season.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:18 pm