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TRVN

Trevena Inc. (NASDAQ:TRVN), a biopharmaceutical company, announced a private placement of 2,779,906 shares and warrants at $0.70/share, expecting to raise $1.946 million. Additionally, Trevena will exercise existing warrants for 2,934,380 shares at the same price, aiming to raise $2.054 million. The new warrants will be exercisable upon stockholder approval and expire in five years. H.C. Wainwright & Co. is the exclusive placement agent for these offerings.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:12 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

LYFT

Wedbush analyst Daniel Ives has maintained a Neutral rating on Lyft (NASDAQ:LYFT) and increased the price target from $12 to $14.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:10 pm

IROHU

Iron Horse Acquisitions Corp. (NASDAQ:IROHU) has priced its initial public offering (IPO) at $10 per unit, aiming to raise $61 million through the sale of 6.1 million units. Each unit includes one share of common stock, one warrant, and one right to receive one-fifth of a share upon a business combination. The units will trade on NASDAQ under the symbol 'IROHU' starting December 27, 2023, with separate trading of the common stock, warrants, and rights under the symbols 'IROH', 'IROHW', and 'IROHR'. EF Hutton LLC is the sole book-running manager, and Brookline Capital Markets is the co-manager. The underwriters have an option to purchase up to an additional 900,000 units to cover over-allotments. The offering is expected to close on December 28, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:09 pm

CALF

FANG

QCOM

TSM

On CNBC's 'Halftime Report Final Trades,' analysts recommended several stocks and ETFs. Bryn Talkington recommended Pacer US Small Cap Cash Cows 100 ETF (CALF) for its high free cash flow yield. Jim Lebenthal chose QUALCOMM Inc. (QCOM) amidst the formation of the Coalition for Open Digital Ecosystems (CODE) by tech companies including Qualcomm. Stephen Weiss selected Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) as his final trade, noting the upcoming retirement of its Chairman, Mark Liu. Joseph Terranova favored Diamondback Energy, Inc. (FANG), citing strong momentum in the energy sector, while Raymond James analyst John Freeman maintained a Strong Buy on FANG with a reduced price target. Stock prices for QCOM, TSM, and FANG saw gains in Tuesday's session.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 2:08 pm

ASPN

BMY

EXPE

FUSN

GLP

MELI

META

MIST

ORGO

PINS

Wall Street analysts have updated their price targets and ratings for several companies. Fusion Pharmaceuticals' target was raised by Raymond James, who also upgraded the stock to Strong Buy. Organogenesis and Aspen Aerogels had their targets raised by BTIG and Canaccord Genuity, respectively, both maintaining Buy ratings. Pinterest's target was increased by Wedbush, but the rating remained Neutral. Expedia's target was raised by BTIG with a Buy rating. Bristol-Myers Squibb's target was cut by B of A Securities, yet the rating stayed at Buy. Meta Platforms' target was significantly raised by Wedbush, maintaining an Outperform rating. Milestone Pharmaceuticals had its target cut by TD Cowen, but kept an Outperform rating. Global Partners' target was raised by Stifel with a Buy rating. MercadoLibre also saw a target increase by Wedbush, maintaining an Outperform rating.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 2:06 pm

MTNB

Matinas Biopharma's stock is up following the announcement of positive results from in vivo studies showing successful oral delivery of LNC-formulated oligonucleotides.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:06 pm

BKNG

Wedbush analyst Scott Devitt has maintained an Outperform rating on Booking Holdings (NASDAQ:BKNG) and increased the price target from $3300 to $3850, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:05 pm

LRHC

La Rosa Holdings Corp. (NASDAQ: LRHC) has acquired a 51% interest in its franchisee, La Rosa Realty Orlando, LLC, which generated $3.6 million in revenue and positive net income in 2022. Despite a down market, Realty Orlando increased transactions by 14% in 2023 compared to 2022. The company aims for a $100 million annual revenue run rate by end of 2024 and plans to acquire more franchisees soon.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:02 pm

Micron Technology (NASDAQ:MU) has delivered an average annual return of 21.74% over the past 5 years, outperforming the market by 8.01% on an annualized basis. A $1000 investment in MU 5 years ago would be worth $2,759.85 today. Micron Technology currently has a market cap of $96.67 billion.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 2:01 pm