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PWUP

Trading for PWUP was halted and then resumed at 8:25 AM ET, with an update on news and resumption times.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:25 pm

CYTK

Cytokinetics' stock price has risen following the announcement of positive topline results from their Phase 3 SEQUOIA-HCM clinical trial of aficamten, a treatment for symptomatic obstructive hypertrophic cardiomyopathy.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:21 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

COMP

DOUG

RDFN

Three real estate stocks, Compass Inc. (COMP), Redfin Corporation (RDFN), and Douglas Elliman Inc. (DOUG), are showing overbought signals with RSI values above 70, indicating potential short-term performance concerns. COMP, RDFN, and DOUG have seen significant price increases over the past month, despite mixed quarterly results.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 1:15 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

ACNT

BETS

JTAI

MOBX

NUKK

Ascent Industries Co. (NASDAQ:ACNT) shares rose by 7.4% in pre-market trading after announcing the sale of Specialty Pipe & Tube for $55 million in cash. Other stocks showed significant movement in pre-market trading, with Jet.AI Inc. (NASDAQ:JTAI) and Bit Brother Limited (NASDAQ:BETS) among the top gainers, while Nukkleus Inc. (NASDAQ:NUKK) and Mobix Labs, Inc. (NASDAQ:MOBX) were among the top losers.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 1:14 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS) announced that its subsidiary, Charging Robotics, has successfully completed a key experiment in wireless high voltage electricity transfer for EV charging. This is a significant step towards implementing a wireless charging system in automated car parks. The experiment verified the proprietary control algorithms for voltage and current. The global Automated Parking System market is expected to grow from USD 1.8 billion in 2022 to USD 5.2 billion by 2032, with a CAGR of 11.4%. The growth in the EV market alongside automated parking suggests a promising future for this technology.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:13 pm

PWUP

Visiox Pharmaceuticals and PowerUp Acquisition Corp. have entered into a definitive agreement for a business combination. The merged entity will be named Visiox Holdings and will trade on the Nasdaq Capital Market under the ticker symbols VSXP and VSXPW. The transaction is anticipated to close in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:10 pm

CNSL

Consolidated Communications Holdings, Inc. (CNSL) is urging shareholders to vote for a proposed acquisition by Searchlight Capital Partners and British Columbia Investment Management Corporation. The offer is $4.70 per share, a 70% premium over the April 12, 2023 share price, and a 218% increase from the initial bid. The transaction is seen as the best risk-adjusted outcome for shareholders, providing a certain value and transferring execution risks to the acquirers. The Special Meeting to vote on the transaction is scheduled for January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:09 pm

ANGH

ASST

BAOS

CRGE

LLYVK

MGAM

NFTG

VSME

In Wednesday's pre-market session, several communication services stocks experienced significant movements. Anghami (ANGH) led the gainers with a 15.1% increase, while Baosheng Media Gr (BAOS) saw the largest decline among the losers with a 21.4% drop. Other notable movers included Mobile Global Esports (MGAM), VS Media Holdings (VSME), and Charge Enterprises (CRGE) with positive gains, and Asset Entities (ASST), NFT Gaming Co (NFTG), and Liberty Live (LLYVK) with notable losses.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 1:07 pm