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BX

PSA

Public Storage (NYSE:PSA) has agreed to acquire Simply Self Storage from Blackstone Inc's (NYSE:BX) Blackstone Real Estate Income Trust, Inc. (BREIT) for $2.2 billion. The portfolio includes 127 properties and 9 million net rentable square feet, with 65% of the assets in high-growth Sunbelt markets. The deal is expected to close in Q3 2023.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 1:24 pm

VOYA

Voya Investment Management and the Illinois Bankers Association (IBA) have entered into a partnership to provide a commercial and industrial loan acquisition and risk management program. The program, known as the Voya Senior Loan Advisory Program, aims to help community and regional banking commercial credit professionals build portfolios of senior secured commercial and industrial loans. The program also offers education and mentoring to banks on the implementation and monitoring of compliant portfolios.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:20 pm

GOVX

GeoVax has been issued a patent titled 'Replication-Deficient Modified Vaccinia Ankara (MVA) And Matrix Protein (VP40)' by the U.S. Patent and Trademark Office. The patent number is 11,701,418 B2.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 1:02 pm

WLMS

Williams Industrial Services Group Inc. (WLMS) has filed for Chapter 11 bankruptcy and agreed to sell most of its assets to EnergySolutions for $60 million. The assets include the company's nuclear, fossil, energy delivery, and paper mill operations. EnergySolutions will not acquire the company's water contracts in Florida and Texas. WLMS has also secured up to $19.5 million in debtor-in-possession financing from its existing lenders.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:48 pm

REXR

Rexford Industrial Realty, Inc. (REXR) has announced the acquisition of an industrial property in Southern California for $210 million. The acquisition was funded using proceeds from forward equity settlements. The company's year-to-date investments total $1.1 billion. The acquired property is 100% leased to two tenants and is expected to generate an initial unlevered cash yield of 5.0%, projected to grow to 6.2% through re-leasing at market rents and contractual annual rent increases of 4.0%.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:40 pm

CEI

Camber Energy's majority-owned subsidiary, Viking Energy Group, announced that its subsidiary, Viking Protection Systems, received a Notice of Allowance from the USPTO for a utility patent application for 'Electric Transmission Line Ground Fault Prevention Systems Using Dual, High Sensitivity Monitoring'. This prospective patent is in addition to another one announced by Viking on May 30, 2023. The technology is designed to improve the resiliency and reliability of existing infrastructure.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:37 pm

GILD

Gilead Sciences Inc has decided to discontinue the Phase 3 ENHANCE study in higher-risk myelodysplastic syndromes (MDS) due to futility based on a planned analysis. The study evaluated the combination of magrolimab plus azacitidine as first-line treatments for higher-risk MDS. The FDA had previously placed a partial clinical hold on the study due to suspected unexpected serious adverse reactions, but lifted the hold in April. Gilead is working on next steps for patients enrolled in the study.

Portfolio Pulse from Vandana Singh

July 24, 2023 | 12:36 pm

QLGN

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) has sold its FastPack diagnostics business to Chembio Diagnostics, a subsidiary of French diagnostics provider BIOSYNEX Group. The all-cash deal will allow Qualigen to focus more on its therapeutics pipeline, particularly its small molecule G-Quadruplex (G4) selective transcription inhibitor, QN-302, and its pre-clinical pan-RAS inhibitor platform.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:17 pm

WKSP

Worksport is planning to invest $1.5 million over the next 18 months in a range of automation tools. There is a strong potential for additional investment.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 12:15 pm

T

TMUS

VZ

AT&T and Verizon are facing investor skepticism due to issues of toxic lead in their telephone lines and heavy debt loads. Both companies have plans to reduce their debt in the coming years. AT&T's debt increased due to the DirecTV and Time Warner acquisitions, while Verizon's debt load increased after spending a record sum on wireless spectrum licenses. T-Mobile US has avoided the recent selloff as it does not own old landline infrastructure and does not pay dividends. AT&T and Verizon were among the worst-performing stocks in the S&P 500 index in the first half of 2023.

Portfolio Pulse from Anusuya Lahiri

July 24, 2023 | 12:06 pm