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SOUN

SoundHound AI (NASDAQ:SOUN) has acquired Amelia, an enterprise AI software company, for $80 million. This acquisition expands SoundHound's reach into new verticals such as healthcare, financial services, and retail, and brings new partnerships and cross-selling opportunities. Amelia, backed by BuildGroup and Monroe Capital (NASDAQ:MRCC), will now enter the publicly accessible market. The combined company is expected to generate $150 million in revenue by 2025.

Portfolio Pulse from Stjepan Kalinic

August 08, 2024 | 1:00 pm

HYLN

Hyliion Holdings Corp. (NYSE:HYLN) has been awarded a Small Business Innovation Research (SBIR) government contract by the U.S. Navy to create a megawatt-scale concept of its KARNO generator technology. This Phase 1 contract will allow Hyliion to design a modular generator system that meets the Navy's specifications for Unmanned Surface Vessels (USVs).

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:58 pm

ERJ

Embraer executives discussed supply chain challenges and the introduction of AI tools to improve efficiency. Despite these constraints, the company remains committed to its 2024 guidance. The defense backlog is expected to increase by over 50% in Q3 due to new contracts. Volatile FX rates are providing a tailwind in the second half of the year. The company is nearing the high end of its guidance and sees opportunities for increased E2 presence in Brazil. Positive news on commercial jet orders is anticipated soon.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:57 pm

TPET

Trio Petroleum Corp (NYSE American: TPET) provided an update on its Asphalt Ridge Project in Uintah County, Utah. The company reported encouraging initial results from production testing with a downhole-heater at the 2-4 well and plans to use a more powerful heater. First oil production is expected in August-September 2024, with the drilling of a third well planned for the same period. The option period to acquire the remaining 17.75% working interest has been extended to October 10.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:55 pm

BIGC

BLIN

Bridgeline Digital, Inc. (NASDAQ:BLIN) announced that a large retailer of pins and accessories has chosen its AI-powered HawkSearch for their BigCommerce site to increase sales and improve conversion strategies.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:53 pm

NVAX

Novavax announced that its updated COVID-19 vaccine will arrive in US warehouses this month, with distribution starting after FDA authorization. The company expects a more successful US vaccination season compared to last year, and data indicates the vaccine targeting JN.1 should cover current variants.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:52 pm

NVGS

Navigator Holdings Ltd. (NYSE: NVGS) has invested $2.5 million alongside Attis Clean Energy in Ten08 Energy to develop a clean ammonia production facility on the US Gulf Coast. The project aims to produce ultra-low carbon ammonia by late 2029/early 2030. Navigator has an option to invest up to $100 million at the Final Investment Decision stage.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:49 pm

SPCE

Virgin Galactic (NYSE:SPCE) plans to finalize the design of its Delta Class spaceships by Q3 2023, aiming for commercial service in 2026. The company expects significant revenue growth, projecting $1 billion annually with increased flight capacity. Despite high future expectations, Virgin Galactic posted a net loss of $94 million for Q2 2023 but beat revenue estimates.

Portfolio Pulse from Anan Ashraf

August 08, 2024 | 12:47 pm

PALI

Palisade Bio, Inc. (NASDAQ:PALI) has announced the selection of dose levels for its upcoming Phase 1 clinical study of PALI-2108, a treatment for Ulcerative Colitis. The study is set to commence before the end of the year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:44 pm

BKNG

SABR

Sabre Corporation and Priceline have announced an expanded multi-year agreement aimed at driving innovation and growth in travel retailing. This partnership is expected to enhance content for travelers.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:44 pm