Streetbeat News

Revenues

AIQ

AVEM

BABA

META

Alibaba's affiliate Ant Group has invested $2.9 billion in AI research in 2023, focusing on its large language model BaiLing. The company has expanded its overseas operations and collaborated with over 30 e-wallet platforms for cross-border payments. Alibaba's stock has declined 11% over the past year.

Portfolio Pulse from Anusuya Lahiri

June 13, 2024 | 1:28 pm

PPIH

Perma-Pipe International Holdings (NASDAQ:PPIH) reported a significant improvement in its Q1 earnings, with EPS rising to $0.18 from a loss of $(0.14) YoY. Sales also increased by 15.73% to $34.32 million.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:28 pm

JPM

LLY

NVO

JPMorgan Chase & Co. has secured over $500 million for a biotech venture capital fund focusing on weight-loss drugs, particularly GLP-1 drugs. The fund, led by Steve Squinto and Gaurav Gupta, aims to capitalize on the booming demand in the healthcare sector. Novo Nordisk and Eli Lilly currently dominate the market, but the fund anticipates more significant winners in the future.

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 1:26 pm

F

Ford Motor Co (NYSE:F) has been actively recruiting talent from Rivian, Tesla, Apple, and other companies to build its low-cost EV team. The team has grown to around 300 employees, including significant hires from Rivian, Tesla, Canoo, Lucid, and Apple's disbanded Car team. Ford's acquisition of Auto Motive Power (AMP) in late 2023 added over 100 employees to the team. Ford aims to create lower-cost EVs to meet customer demand and compete with Tesla and Chinese EV makers. Despite increased EV sales, Ford expects its EV division to post a significant EBIT loss in 2024.

Portfolio Pulse from Anan Ashraf

June 13, 2024 | 1:21 pm

MULN

Mullen Automotive shares are trading higher after its Bollinger Motors division secured a $13.2 million order for 80 Bollinger B4 trucks.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:19 pm

BITF

Bitfarms Ltd (NASDAQ:BITF) shares are rising after the company announced an agreement to develop up to 120 MW of power capacity in Sharon, Pennsylvania. This expansion is expected to increase Bitfarms' 2025 power capacity by 170% and enhance its geographical diversification.

Portfolio Pulse from Adam Eckert

June 13, 2024 | 1:18 pm

PFE

Pfizer Inc. (NYSE:PFE) shares are ticking lower after the company disclosed disappointing results from its Phase 3 CIFFREO study on gene therapy for Duchenne muscular dystrophy (DMD). The study did not achieve its primary endpoint of improving motor function in young boys. This setback adds to Pfizer's challenges as it seeks new revenue streams following the decline in sales from its COVID-19 products.

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 1:18 pm

MULN

Mullen Automotive's Bollinger Motors has secured a $13.2 million order for 80 Bollinger B4 trucks from Momentum Groups. These vehicles qualify for a $40,000 federal tax credit and will be used for fleet management and EV charging solutions.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:16 pm

FXI

MA

Mastercard and NetsUnion have announced a partnership to begin processing payments in the Chinese mainland. Starting May 2024, Mastercard cards issued by Chinese banks will be accepted in China.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:14 pm

WMT

Walmart is modernizing its operations by introducing digital shelf labels (DSLs) in approximately 2,300 stores to enhance customer service and simplify in-store processes. This move has contributed to a 26% year-to-date increase in Walmart's stock, outperforming the S&P 500.

Portfolio Pulse from Zaheer Anwari

June 13, 2024 | 1:09 pm