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META

MSTR

NVDA

MicroStrategy (NASDAQ:MSTR) has purchased an additional 14,620 BTC for $615.7 million, bringing its total Bitcoin holdings to 189,150 BTC valued at $5.9 billion. The company's CFO Andrew Kang reaffirmed their commitment to Bitcoin, citing its potential for increased institutional adoption and its role in strengthening their balance sheet. MicroStrategy's stock has seen significant gains, outperforming tech peers like Nvidia and Meta. Bitcoin's price has also seen a substantial increase over the past month and year-to-date.

Portfolio Pulse from Khyathi Dalal

December 27, 2023 | 2:14 pm

WMB

Williams Companies Inc (NYSE:WMB) has agreed to purchase a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion, approximately 10x the estimated 2024 EBITDA multiple. The acquisition includes six storage facilities in Louisiana and Mississippi with a total capacity of 115 Bcf, 230 miles of pipeline, and 30 interconnects. The deal is expected to close in January 2024 and is seen as a strategic move to meet growing demand for natural gas, especially as renewable energy adoption increases. WMB's stock showed a slight premarket decline.

Portfolio Pulse from Lekha Gupta

December 27, 2023 | 2:11 pm

SOAR

Volato Inc. (NYSE:SOAR) has increased its HondaJet fleet by 50% to 24 aircraft as of December 2023, with the addition of three new aircraft in that month. The company has also contracted for 22 additional HondaJet Elite IIs for delivery in 2024 and beyond. This expansion is part of Volato's strategic growth plan, which includes acquiring aircraft directly from Honda and managing planes for owners. The larger fleet will improve availability and flexibility for customers, and the company has signed a letter of intent for HondaJet's new Echelon aircraft, capable of transcontinental flights.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:05 pm

OPT

Opthea shares are trading higher following the announcement that the company will receive the remaining $35 million from Carlyle and Abingworth, and has secured an additional $50 million from a new co-investor.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:53 pm

WMB

Williams (NYSE:WMB) is set to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The assets include six storage facilities with a total capacity of 115 Bcf, located in Louisiana and Mississippi, and are strategically positioned to benefit from LNG exports and power generation demand. The acquisition, expected to close in January 2024, is seen as a strategic fit for Williams, enhancing its ability to meet growing natural gas demand, particularly for high deliverability storage.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:16 pm

FNMA

IYR

SCHH

VNQ

XLRE

Fannie Mae forecasts a slight GDP decline of 0.3% in 2024 with a recovery in 2025. The housing market is expected to show resilience with slow recovery in home sales and mortgage originations. The Economic & Strategic Research Group at Fannie Mae presented this outlook. ETFs like VNQ, SCHH, XLRE, and IYR offer exposure to the real estate sector. Mortgage rates are predicted to average 6.7% in 2024, with a modest increase in home sales.

Portfolio Pulse from Surbhi Jain

December 27, 2023 | 1:15 pm

FWBI

First Wave BioPharma has entered a non-binding term sheet to sell its Niclosamide program for inflammatory bowel diseases to an undisclosed biopharmaceutical company. The deal includes a low seven-figure upfront payment and future economic benefits from milestones and royalties. This move will allow First Wave BioPharma to concentrate on its late-stage clinical programs: Capeserod, Adrulipase, and Latiglutenase, following a potential business combination with ImmunogenX.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 11:04 am

OPT

Opthea is set to receive the remaining $35 million from Carlyle and Abingworth as part of a development funding agreement. This financing is non-dilutive, meaning no new equity will be issued to the investors.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 11:02 am

NIO

NIO Inc., a leader in the premium smart electric vehicle market, has closed a strategic equity investment deal worth $2.2 billion with CYVN Investments RSC Ltd, an Abu Dhabi-based investment vehicle. This deal, which was initially announced on December 18, 2023, aims to bolster NIO's financial position and support its growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:36 am

BOTZ

OpenAI CEO Sam Altman has expressed a new perspective on interest rates in the context of abundant innovation, questioning what will happen to rates when there are more and better ideas than ever. Hedge fund Lumida Wealth and venture capital firm Aleph responded, suggesting higher rates could lead to better allocation of talent and innovation. Interest rates have fluctuated over the years, with the Fed recently initiating an aggressive rate-hike cycle. Cathie Wood of Ark Investment Management highlighted the potential for disruptive innovations to significantly boost global productivity and GDP growth. The Global X Robotics & Artificial Intelligence ETF (BOTZ) experienced a slight increase.

Portfolio Pulse from Shanthi Rexaline

December 27, 2023 | 9:21 am