Streetbeat News

Partnerships

OPTT

The Naval Information Warfare Center plans to award a firm-fixed-price purchase order to Ocean Power Technologies for their Wave Adaptive Modular Vessel Ultra-Light Modular Watercraft.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 5:33 pm

GOOG

GOOGL

RIVN

Google announced that Android Automotive is getting support for Google Cast, new apps, and more, starting with Rivian vehicles. This includes a native YouTube app and other entertainment apps like Max and Peacock. Google also introduced new tiers of app quality for cars and mentioned that over 200 million vehicles are using the phone-based Android Auto experience.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 5:10 pm

BIDU

TSLA

Baidu is considering using Tesla's upcoming Robotaxi in China, indicating a potential partnership between the two companies. Tesla has reportedly secured conditional approval to deploy its 'Supervised Full Self-Driving' system in China and is working with Baidu on navigation maps for self-driving.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 5:09 pm

EDBL

Edible Garden AG Incorporated (NASDAQ: EDBL) shares surged after reporting first-quarter FY24 results. Revenue increased by 27.6% Y/Y to $3.1 million, missing the consensus of $3.2 million. Gross profit rose by 195.8% Y/Y, and the company expanded its distribution network and secured a significant three-year contract. However, EPS loss of $(13.65) missed expectations.

Portfolio Pulse from Lekha Gupta

May 15, 2024 | 5:08 pm

LIDR

AEye, Inc. (NASDAQ:LIDR) shares surged after the company reported better-than-expected quarterly losses and announced a partnership to enter the China market. Despite missing revenue estimates, the stock saw heavy trading volume.

Portfolio Pulse from Erica Kollmann

May 15, 2024 | 5:04 pm

ISRG

NVDA

NVIDIA Corporation (NASDAQ: NVDA) shares are trading higher due to a collaboration with academic researchers on a new simulation framework, ORBIT-Surgical, aimed at training robots for surgery. The framework uses NVIDIA's Isaac Sim and Omniverse platforms and will debut at the IEEE International Conference on Robotics and Automation.

Portfolio Pulse from Nabaparna Bhattacharya

May 15, 2024 | 4:54 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) and Indonesia's Pertamina are planning to develop a carbon capture and storage (CCS) hub in Indonesia's Asri Basin, with potential storage of up to 3 gigatonnes of CO2 and an investment of $2 billion. They have also partnered with South Korea's KNOC. Additionally, Exxon recently completed the acquisition of Pioneer Natural Resources, doubling its Permian production. Investors can gain exposure to XOM through Energy Select Sector SPDR Fund (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

May 15, 2024 | 4:45 pm

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