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CARR

XPDB

Montana Technologies has entered into a joint commercialization agreement with Carrier Global Corporation (CARR) to develop and commercialize Montana's AirJoule cooling technology. Carrier has conditionally committed to a $10 million growth equity investment in Montana, contingent on certain milestones. The agreement grants Carrier exclusive rights to commercialize AirJoule in the Americas for three years. Carrier will also nominate a board member to the post-merger entity of Montana and Power & Digital Infrastructure Acquisition II Corp. (XPDB). The merger and NASDAQ listing under ticker AIRJ are expected to close in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:23 pm

PLTR

The weekend's top stories included North Korea's missile deal with Russia, Mike Pence's stance against banning Trump from the 2024 ballot, public opinion favoring Trump's candidacy, Cathie Wood's ARK Invest increasing its stake in Palantir Technologies (NYSE:PLTR) despite analyst downgrades, and anticipation for the decision on the U.S.'s first Bitcoin ETF. ARK Invest's ETFs purchased additional shares of Palantir.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 2:22 pm

ATRA

Atara Biotherapeutics has entered into an agreement for the issuance and sale of pre-funded warrants to purchase 27,272,727 shares of its common stock. Each pre-funded warrant is priced at $0.55 per share in a registered direct offering.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:19 pm

CORT

Corcept Therapeutics (CORT) shares rose following the announcement of preliminary Q4 and full year 2023 revenue results that surpassed estimates. The company also provided 2024 revenue guidance that exceeded expectations and revealed a $200 million stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:16 pm

SPLP

Steel Partners Holdings L.P. (NYSE:SPLP) has announced the extension of the effective date for its Reverse/Forward Unit Split to January 11, 2024. The Reverse Unit Split will be at a ratio of 1-for-12,500, immediately followed by a 12,500-for-1 Forward Unit Split. Trading on a split-adjusted basis is expected to begin on January 12, 2024. Employee-held units will be excluded from the split, and fractional units will not be issued; instead, cash will be paid out. The transfer agent, Equiniti Trust Company, LLC, will handle the exchange and payment process.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:15 pm

TRV

Travelers Companies (NYSE:TRV) has seen a 6.31% increase in short interest since its last report, with 2.67 million shares sold short, representing 1.18% of its float. It would take about 1.71 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, TRV has less short interest compared to its peer group average of 1.89%. This data does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:15 pm

RMCO

Royalty Management Holding Co. (NASDAQ:RMCO) has provided an update on its partnership with Advanced Magnet Lab, Inc. (AML) to develop proprietary metal alloy compositions for permanent magnets. The collaboration aims to reduce U.S. reliance on foreign rare earth magnet manufacturing, particularly from China. RMCO's investment in AML includes funding a pilot-scale lab and a royalty interest in the new alloys developed. AML's PM-Wire™ process, funded by the DoD and commercial partners, allows for the production of high-quality magnets from various materials, with less dependence on critical rare earth elements. The pilot lab is expected to produce magnet alloy samples in the first half of 2024 for prototyping.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:01 pm

ENOV

Analysts have provided mixed reviews on Enovis (NYSE:ENOV) over the past three months, with 6 bullish ratings, including recent updates to price targets and ratings. The average 12-month price target for Enovis is now $70.17, up from $66.75, with a high estimate of $75.00 and a low of $62.00. Enovis is a medical technology company with segments in Prevention & Recovery and Reconstructive surgery, showing strong revenue growth and financial performance despite a lower market capitalization compared to industry peers.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:00 pm

TPCS

TechPrecision Corporation (NASDAQ:TPCS) announced the expiration of the 45-day diligence period for the acquisition of Votaw Precision Technologies, Inc., committing to the closing of the acquisition. The Board, owning over 15% of TechPrecision stock, unanimously supports the acquisition, which is expected to bring synergy, growth, overhead savings, and CAPEX savings. The merger is anticipated to raise revenue and provide cost savings, with STADCO's operations moving to Votaw's facility. TechPrecision will seek debt and equity financing for the acquisition, with details to be determined by market conditions. Full financial details from Votaw will be disclosed after the fiscal year ending October 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:00 pm

AXP

Analysts have provided mixed evaluations for American Express (NYSE:AXP) over the last three months, with a total of 14 ratings ranging from bullish to bearish. The average 12-month price target for AXP is $179.36, with a high of $205.00 and a low of $151.00, marking a slight decrease from the previous average of $180.88. Recent actions by analysts include various rating adjustments and price target changes. American Express, a global financial services company, has shown strong financial performance with a revenue growth rate of 13.57%, a net margin of 15.76%, an ROE of 8.95%, an ROA of 0.98%, and a debt-to-equity ratio of 1.76.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:00 pm