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GREE

Greenidge Generation has partnered with Infinite Reality (iR) and launched GreenidgeAI. In the share exchange, iR will receive Greenidge shares valued at $8.33 each, reflecting a $2.5 billion valuation of iR stock. Additionally, both companies have granted each other one-year warrants to purchase more shares at set prices, with proceeds aimed at developing a new datacenter for Greenidge and providing working capital for iR.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:48 pm

BAX

CVS

OGN

Three high-yielding dividend stocks in the health care sector have been rated by Wall Street's most accurate analysts. Organon & Co. (OGN) has a dividend yield of 9.97% but received mixed ratings and a price target cut. CVS Health Corporation (CVS) offers a 3.61% yield, maintained positive ratings, and announced a consistent dividend. Baxter International Inc. (BAX) with a 3.19% yield, also saw price target reductions but reported revenue that beat consensus. Recent news and analyst accuracy rates are considered for investment insights.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 1:48 pm

CLIN

Clean Earth Acquisition Corp. (NASDAQ:CLIN) has announced that the business combination with Alternus Energy Group Plc (OSE: ALT) has not yet closed due to unmet conditions. The companies are working to satisfy these conditions, including Nasdaq's approval for listing the post-combination company's stock. There is no guarantee that the business combination will be completed by the deadline of May 28, 2024, as required by Clean Earth's governing documents.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:42 pm

CLOE

DGLY

Digital Ally, Inc. and Clover Leaf Capital Corp. have amended their Lock-Up Agreement in relation to their proposed business combination, increasing the immediate distribution of securities to Digital Ally shareholders from 15% to 20% at closing. The combined company, Kustom Entertainment, will have an equity value of $125 million and an implied pro forma equity value of $222.2 million. The merger is expected to provide $14 million in gross proceeds, assuming no redemptions. Kustom Entertainment will include TicketSmarter and Kustom 440, focusing on concerts and ticketing partnerships.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:41 pm

TOPS

Top Ships Inc. (NASDAQ:TOPS) has updated its net asset value (NAV) estimate to $344 million, up from the previous $285 million. This equates to a NAV per common share of $74.36 and $61.15 on a fully diluted basis. The company's contracted revenue backlog has also increased to $400 million. The Board is considering shareholder-friendly actions, such as a share buyback plan. The CEO highlighted the company's modern fleet, positive cash flow, and income generation, with the revenue backlog being 5 times the 2022 revenues and 1.9 times the net debt.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:38 pm

UUP

The November CPI report showed a slight decrease in the annual inflation rate to 3.1%, matching expectations. Core inflation rose to 4.1% annually. The report precedes the FOMC meeting and interest rate decision. Post-report, the Invesco DB USD Index Bullish Fund ETF (UUP) dipped, and S&P 500 futures fell slightly.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 1:37 pm

ODYY

OGEN

Odyssey Health, Inc. received shareholder approval for the sale of its neurological drug platform to Oragenics, Inc. The approval resulted in a second payment of $500,000 to Odyssey. The total consideration for the sale is $1 million and 8 million shares of Oragenics Convertible Preferred Class F stock. The transaction is expected to close by the end of the year, pending other conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:35 pm

ADTX

EVFM

Aditxt, Inc. (NASDAQ:ADTX) has entered into a definitive agreement to acquire Evofem Biosciences, Inc. (OTCQB:EVFM) for approximately $100 million, consisting of common and preferred stock issuance and assumption of senior indebtedness. Evofem's Phexxi, a non-hormonal contraceptive gel, has seen $13.4 million in net sales for the first nine months of 2023. The acquisition aims to expand into the global non-hormonal birth control market, projected to grow to $52.2 billion by 2031. The transaction is expected to close in the first half of 2024, subject to stockholder approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:34 pm

CSPI

CSP Inc. (NASDAQ:CSPI) reported a decrease in earnings and sales for Q4, with EPS down to $0.30 from $0.31 YoY and sales falling to $15.33M from $16.68M YoY.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:32 pm

SPY

The Core Consumer Price Index (CPI) for November increased by 4% year-over-year, aligning with the market estimates.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:30 pm