Tidal ETF Trust Gotham Short Strategies ETF (ARCA: SHRT)

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The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities (i.e., swaps), primarily of companies traded on U.S. markets. The Funds sub-adviser, Gotham Asset Management, LLC (Gotham or the Sub-Adviser) seeks to maintain the Funds net equity exposure, which is the value of the Funds long positions minus its short positions, at approximately 50 percent net short. The Sub-Adviser expects that the Funds gross equity exposure, which is the value of the Funds long positions plus its short positions, will generally be at or below 250 percent. The Fund may invest in companies of any size and the Fund generally holds several hundred positions..

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Gotham Short Strategies ETF

5 Things To Watch As US Stocks Set For Flattish Start

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SHRT

MasTec raised its FY2024 adjusted EPS guidance, with 18-month backlog at $13.9B, adjusted EBITDA of $305.9M, and Adj. EPS of $1.63 beating consensus. Q4 adjusted EPS guidance of $1.29 and sales of $3.325B. 

Why Is Infrastructure Construction Company MasTec Stock Surging Today?

JMP Securities analyst Silvan Tuerkcan reiterates enGene Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENGN#NASDAQ">ENGN</a>) with a Market Outperform and maintains $18 price target.

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ENGN

JMP Securities Reiterates Market Outperform on enGene Holdings, Maintains $18 Price Target

Robust October and November 2024 results driven by the continued success of FlexShopper's direct-to-consumer and business-to-business growth strategies
Based on strong October and November 2024 performance, management expects the fourth quarter of 2024 to exceed financial results for the fourth quarter of 2023
BOCA RATON, Fla., Dec. 23, 2024 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/FPAY#NASDAQ">FPAY</a>), a prominent national online lease-to-own retailer and payment solutions provider, today announced record initial holiday season financial results, as the Company benefits from the continued success of its direct-to-consumer (DTC) and business-to-business (B2B) growth strategies. For the first two months of the 2024 fourth quarter, compared to the same two-month period in 2023, lease gross revenue increased 15%, and lease net revenue increased over 25%, as bad debt expense, as a percent of gross revenue declined by 600 basis points. As a result, lease gross profit increased 51% for the first two months of the 2024 fourth quarter, while lease marketing expense has declined over 40% for the same period. New loan originations increased over 34% versus the same two-month period last year.

FPAY

FlexShopper Announces Record Q4 Start With Lease Gross Revenue Up 15%, Net Revenue Up 25%, And Gross Profit Up 51% YoY; Marketing Expenses Down 40%, New Loan Originations Up 34%

WIIM

HOVR

Horizon Aircraft shares are trading higher after the company received an $8.4 million investment.

Singular Genomics Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMIC#NASDAQ">OMIC</a>) ("Singular Genomics" or the "Company"), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, today announced that it has entered into a definitive merger agreement whereby an affiliate of Deerfield Management Company, L.P. will acquire Singular Genomics in an all-cash transaction for $20.00 per share.
The $20.00 per share represents 254% premium to the last closing share price for Singular's common stock prior to the September 12, 2024 public disclosure of Deerfield's initial acquisition proposal.

OMIC

Singular Genomics Enters Into Agreement To Be Acquired By Deerfield For $20 In Cash per Share

Castellum shares are trading lower after the company announced the pricing of a $3.6 million registered direct offering of 9.47 million shares at $0.38 per share.

Completed acquisition of strategic assets of Gander Group&#x2122;
Revenue expected to grow approximately 7.8% compared to the first nine months of 2023
Quincy, MA, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Stran &amp; Company, Inc. ("Stran" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWAG#NASDAQ">SWAG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWAGW#NASDAQ">SWAGW</a>), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today reported preliminary selected unaudited results for the nine months ended September 30, 2024.
"During the quarter, we continued to execute on our growth strategy, including securing significant contracts with leading customers as well as acquiring strategic assets that complement and improve our operations," commented Andy Shape, President and CEO of Stran. "Specifically, we completed the acquisition of assets of Gander Group&#x2122;, a recognized leader in casino continuity and loyalty programs, generating over $34 million in revenue in 2023. By integrating Gander Group's assets in the gaming, casino, and entertainment sectors with our established operational infrastructure and customer base, we anticipate significant cross-selling opportunities and operational efficiencies that will drive revenue growth and improve margins. While we are working to fully integrate Gander into Stran, we project our revenue to increase by approximately 7.8% to $57 million for the nine months ended September 30, 2024 compared to the same period in 2023. Importantly, we have continued to prioritize prudent expense management, maintaining a strong balance sheet with approximately $17 million in cash equivalents and investments and no long-term debt as of September 30, 2024. The reduction in cash reflects our strategic investment in the Gander acquisition and we have no need or plan to raise capital to support our operations or ongoing growth initiatives. Lastly, we are finalizing our financial statements and look forward to sharing further updates in the coming weeks."
The selected unaudited results in this press release are preliminary and subject to the completion of accounting and interim review procedures and are therefore subject to adjustment.

SWAG

SWAGW

Stran & Company Announces Preliminary 9-Months Ended September 30, 2024 Revenue Expected To Grow ~7.8% To To $57M YoY

Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) is soaring, with shares jumping 44% pre-market after <a href="https://www.benzinga.com/24/12/42634166/rumble-stock-soars-on-775-million-investment-from-tether-what-to-know">a $775 million investment </a>from Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>).
<h2 class="wp-block-heading">Tether's Investment Boosts Rumble's Pre-Market Surge</h2>
The deal involves Tether purchasing 103.33 million shares of Rumble Class A common stock at $7.50 per share, totaling $775 million in gross proceeds. This deal marks a bold move in a sector where cryptocurrency and free speech often collide.
Rumble plans to use $250 million of the proceeds for growth initiatives, aiming to strengthen its position in the free speech video-sharing space. The remainder of the funds will be used for a self-tender offer, buying back up to 70 million shares at the same price of $7.50 each. 
CEO Chris Pavlovski emphasized the alignment between crypto and free speech.
Also Read: <a href="https://www.benzinga.com/news/global/24/12/42643821/biden-administration-initiates-trade-probe-on-chinese-legacy-chips">Biden Administration Initiates Trade Probe On Chinese &#8216;Legacy&#8217; Chips</a>
<h2 class="wp-block-heading">Rumble + Tether = Strong Partnership, Shared Values</h2>
Both Rumble and Tether share a commitment to decentralization, transparency, and free expression. Tether CEO Paolo Ardoino pointed out the increasing erosion of trust in legacy media, positioning platforms like Rumble as credible, uncensored alternatives. 
These shared values create a solid foundation for the partnership, which could transform how alternative content platforms engage with users and creators alike, he said.
<h2 class="wp-block-heading">Rumble Stock Signals Bullish, But Watch That RSI</h2>
Rumble stock is surging, fueled by the Tether investment. Its technical indicators are strongly bullish, with cautionary signs present.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="493" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23070639/Screenshot-2024-12-23-at-5.36.29-PM.png" alt="" class="wp-image-703998" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23070639/Screenshot-2024-12-23-at-5.36.29-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23070639/Screenshot-2024-12-23-at-5.36.29-PM-300x235.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122324&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Rumble stock, at $10.32, is way above its eight-day and 20-day Simple Moving Averages (SMAs) of $8.17 and $7.76, suggesting a short-term bullish momentum. Rumble stock's 50-day and 200-day SMAs at $6.68 and $6.37 further reinforce the bullish signal in the medium to long term.
Further support for the bullish case is provided by a favorable MACD indicator of 0.53.
However, Rumble stock's Relative Strength Index sits in overbought territory at 71.96, signaling the potential for a pullback or price correction in the short term.
<h2 class="wp-block-heading">A Bold Bet For The Future Of Content</h2>
While the overbought RSI may suggest caution, momentum indicators and moving averages support a bullish outlook for Rumble stock. Tether's investment and Rumble's growth plans could further make this partnership one to watch.
With Rumble poised to capitalize on its newfound resources, investors may want to look beyond short-term volatility and focus on long-term growth.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/12/42468569/could-rumble-be-big-winner-from-trumps-ftc-commissioner-pick-been-an-invaluable-member-of-the-rumble-team">Could Rumble Be Big Winner From Trump&#8217;s FTC Commissioner Pick? &#8216;Been An Invaluable Member Of The Rumble Team&#8217;</a></li>
</ul>
Photo: Shutterstock

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$USDT

Rumble Stock Soars 44% Pre-Market: Crypto Meets Free Speech — Game-Changer Or Hype?

RGTI

Rigetti Computing shares are trading higher. The company announced it has launched its 84-Qubit Ankaa 3 System and achieved 99.5% Median Two-Qubit Gate Fidelity Milestone.

Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) gains significant leverage in future litigation after <a href="https://www.benzinga.com/24/12/42633922/qualcomm-bags-win-in-chips-licensing-trial-against-arm-but-the-battle-is-not-over-yet">securing a critical legal win</a> against Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), according to JPMorgan analyst Samik Chatterjee.
What The Court Said: A Delaware District Court ruled that Qualcomm's acquisition of Nuvia did not violate Arm's Architecture License Agreement (ALA), securing the designs under Qualcomm's license. 
While the verdict didn't resolve all questions about Nuvia's prior actions, it eliminates fears of canceled licenses or disruptive financial repercussions.
It also dismisses major uncertainties surrounding the license agreement with Arm and allows San Diego-based Qualcomm to continue selling and innovating on Arm&#8217;s chips without interruption.
Still, Chatterjee warns of potential future litigation from Arm and hints at possible renegotiations over financial terms for ALA extensions beyond 2033. Qualcomm has the option to renew the license for an additional five years in 2028 for just $1 million annually—a move that could be pivotal for its long-term roadmap.
Read More: <a href="https://www.benzinga.com/24/12/42633922/qualcomm-bags-win-in-chips-licensing-trial-against-arm-but-the-battle-is-not-over-yet">Qualcomm Bags Win In Chips Licensing Trial Against Arm, But The Battle Is Not Over Yet</a>
Beyond The Courtroom: Trial disclosures revealed Qualcomm's ambitious plans post-Nuvia acquisition, including four groundbreaking CPU design efforts:
<ul>
<li>Hamoa – Aimed at PCs and laptops.</li>
<li>Pakala – Targeting the smartphone market.</li>
<li>Nordschleife – Designed for automotive applications.</li>
<li>Pegasus – Focused on future computing and mobile innovations.</li>
</ul>
<ol></ol>
While these efforts showcase Qualcomm's R&amp;D prowess, Arm's potential plans to develop its own processors — possibly for Samsung — add an intriguing layer of competition.
<h2 class="wp-block-heading">Bearish Signals Dominate</h2>
Despite the legal victory, Qualcomm's stock isn't getting much love from the technical indicators. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="493" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23052409/Screenshot-2024-12-23-at-3.53.42-PM.png" alt="" class="wp-image-703803" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23052409/Screenshot-2024-12-23-at-3.53.42-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23052409/Screenshot-2024-12-23-at-3.53.42-PM-300x235.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122324&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Trading at $152.89, QCOM stock lags below its eight-day, 20-day, 50-day, and 200-day simple moving averages—all flashing bearish signals. 
The Moving Average Convergence Divergence (MACD) at a negative 2.73 and a Relative Strength Index (RSI) of 39.6 suggest QCOM stock is nearing oversold territory, but bears remain in control.
Chatterjee maintains an &#8216;Overweight&#8217; rating for Qualcomm stock, citing its ability to navigate legal challenges and drive innovation. 
However, the road ahead could see bumps if Arm chooses to escalate disputes or Qualcomm faces challenges in renegotiating license terms.
For Qualcomm investors, the court ruling removes a major overhang, clearing the way for further innovation in Arm-based chips. 
Yet, with bearish technicals and lingering uncertainties about Arm's next moves, the stock remains a high-stakes play.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/12/42621868/nvidia-secures-eu-approval-for-runai-deal-us-probes-china-export-breach">Nvidia Secures EU Approval For Run:ai Deal, US Probes China Export Breach</a></li>
</ul>
Image: Shutterstock

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QCOM

Qualcomm Scores Big In Arm Lawsuit: Will Bearish Trends Back Down?

WVE-007 is a novel approach for treating obesity and is designed to silence INHBE to achieve healthy, sustainable weight loss through fat burning, muscle maintenance and the potential for once or twice-annual administration
WVE-007 is Wave's first siRNA program to enter clinical development and uses best-in-class oligonucleotide chemistry and GalNAc delivery
Wave expects to initiate the first-in-human study of WVE-007 in 1Q 2025
CAMBRIDGE, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WVE#NASDAQ">WVE</a>), a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health, today announced the submission of its first clinical trial application (CTA) for WVE-007 in obesity. WVE-007 is an investigational GalNAc-conjugated small interfering RNA (siRNA) designed to silence Inhibin&nbsp;βE (INHBE) gene expression, which would induce fat burning (lipolysis) to decrease body weight without impacting muscle mass. Wave expects CTA approval and initiation of the first-in-human study of WVE-007 in the first quarter of 2025.

Biotech

Wave Life Sciences Announces Submission Of First Clinical Trial Application For WVE-007 In Obesity

Keybanc analyst Tim Rezvan maintains BKV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKV#NYSE">BKV</a>) with a Overweight and raises the price target from $23 to $25.

Keybanc Maintains Overweight on BKV, Raises Price Target to $25

Rumble shares are trading higher after the company announced it has entered into a definitive agreement for a strategic investment of $775 million from Tether.

As of Dec. 23, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Profire Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIE#NASDAQ">PFIE</a>)</h3>
<ul>
<li>On Nov. 6, Profire Energy posted in-line quarterly earnings. The company's stock surged around 79% over the past six months and has a <a href="https://www.benzinga.com/quote/PFIE">52-week high of $2.55</a>.</li>
<li>RSI Value: 70&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>PFIE Price Action: Shares of Profire Energy closed at $2.54 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Adams Resources &amp; Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AE#NYSE">AE</a>)</h3>
<ul>
<li>On Nov. 12, Adams Resources &amp; Energy posted better-than-expected quarterly sales. &#8220;We are encouraged by the increase in Adjusted EBITDA from crude oil marketing operations, as higher oil prices compared to the prior-year quarter more than offset the lower volumes related to our exit of the Red River operations in the fourth quarter of 2023,&#8221; said Kevin Roycraft, President and CEO of the Company. The company's stock gained around 52% over the past six months and <a href="https://www.benzinga.com/quote/AE">has a 52-week high</a> of $37.90.</li>
<li>RSI Value: 76</li>
<li>AE Price Action: Shares of Adams Resources &amp; Energy closed at $37.30 on Friday.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42616196/jim-cramer-likes-walmart-recommends-buying-this-very-very-good-financial-stock">Jim Cramer Likes Walmart, Recommends Buying This &#8216;Very, Very Good&#8217; Financial Stock</a></li>
</ul>

Short Ideas

Pre-Market Outlook

PFIE

Top 2 Energy Stocks That May Dip This Quarter

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/12/20/final-trades-freeport-mcmoran-columbia-banking-pg-and-target.html">Halftime Report Final Trades</a>,&#8221; Sarat Sethi of DCLA said he likes Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>).
On Oct. 22, Freeport-McMoRan reported third-quarter FY24 results. Revenue stood at $6.79 billion, beating the consensus of $6.47 billion. Copper sales totaled 1.0 billion pounds, down 7% Y/Y and 2% above the July 2024 estimate, due to the timing of shipments and lower ore grades and operating rates in <a href="https://www.benzinga.com/quote/FCX/earnings">North America</a>.
Jenny Van Leeuwen Harrington of Gilman Hill Asset Management said Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) has a 5.3% dividend yield.
On Dec. 17, UBS analyst Nicholas Holowko assumed Columbia Banking System with a Neutral rating and announced a price target of $32.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Kevin Simpson of Capital Wealth Planning named The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), which has a 2.5% dividend yield.
Procter &amp; Gamble will webcast a discussion of its second quarter earnings results on Jan. 22, 2025. Analysts expect the company to report quarterly earnings at $1.88 per share on revenue of $21.74 billion.
Stephanie Link of Hightower Advisors named Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) as her final trade.
On Dec. 20, Stifel analyst Mark Astrachan maintained Target with a Hold and raised the price target from $137 to $145.
Price Action:
<ul>
<li>Freeport-McMoRan shares gained by 1.6% to close at $38.86 on Friday.</li>
<li>Columbia Banking shares gained 3% to close at $27.19 during Friday's session.</li>
<li>Procter &amp; Gamble shares fell by 0.7% to settle at $168.06 on Friday.</li>
<li>Target gained by 0.8% to settle at $131.48 during Friday's session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42616196/jim-cramer-likes-walmart-recommends-buying-this-very-very-good-financial-stock">Jim Cramer Likes Walmart, Recommends Buying This &#8216;Very, Very Good&#8217; Financial Stock</a></li>
</ul>
Image generated using artificial intelligence via Midjourney

Media

COLB

Procter & Gamble, Freeport-McMoRan, Columbia Banking And A Major Retailer On CNBC's 'Final Trades'

<ul>
<li>In the largest study to date of bone and soft tissue tumors, OGM detected 100% of the variants found by multiple standard techniques, including karyotyping, fluorescent in-situ hybridization (FISH) &amp; gene fusion assays</li>
<li>OGM was also more sensitive, including detection of diagnostic or pathogenic variants missed by karyotype in 74% (14/19) of cases that failed or were negative by karyotyping</li>
<li>When OGM results and next-generation sequencing (NGS) results were combined, diagnostic and pathogenic structural variants (SVs), copy number variants (CNVs), and/or single nucleotide variants (SNVs) were found in ~98% of cases, a substantially greater rate than when karyotyping, FISH and NGS are used &nbsp;</li>
</ul>
SAN DIEGO, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNGO#NASDAQ">BNGO</a>) today announced a publication in&nbsp;Modern Pathology by a group of researchers at the&nbsp;Johns Hopkins University School of Medicine, showing that optical genome mapping (OGM) can outperform traditional techniques in analysis of bone and soft tissue tumors. Several prior publications have shown the utility of OGM compared to traditional cytogenetics in studies of hematologic malignancies, however, data on the application of OGM in solid tumors has been relatively sparse. This study provides compelling support for extending the utility of OGM in cancer beyond hematologic malignancies to solid tumors.

BNGO

Bionano Announces Publication From Johns Hopkins School Of Medicine Showing That OGM Outperformed Multiple Cytogenetic Assays In A Study Of Bone And Soft Tissue Tumor Analysis

Ormat Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORA#NYSE">ORA</a>), a leading geothermal and renewable energy company, today announced it has successfully secured 1,678 acres in Utah's Bureau of Land Management (BLM) Auction. These lease acquisitions will significantly support Ormat's ongoing operations and development projects in the state, further strengthening the company's commitment to advancing renewable energy solutions and meeting Utah's increasing demand for sustainable energy.
The newly leased acres should allow Ormat to develop two new power plants near our Cove Fort facility in Utah. Exploration work on the first plant (Cove Fort 2) is expected to begin in 2025 and, pending resource availability, we expect the project to achieve a Commercial Operation Date in 2027. The second plant (Cove Fort North) will be developed at a later stage.

Ormat Technologies Secured 1,678 Acres In Utah's Bureau Of Land Management Auction To Support Ormat's Ongoing Operations And Development Projects In The State, Further Strengthening The Co's Commitment To Advancing Renewable Energy Solutions And Meeting Utah's Increasing Demand For Sustainable Energy

Inmagene Biopharmaceuticals is a clinical stage company focused on developing IMG-007, a non-depleting anti-OX40 monoclonal antibody with an extended half-life and a silenced ADCC function
The transaction is expected to result in approximately $175 million to support further development of IMG-007, including $75 million from an oversubscribed Private Placement that will close immediately following the merger
The Financing includes both new investors such as Deep Track Capital, Foresite Capital, RTW Investments, and existing Ikena investors such as BVF Partners L.P., Blue Owl Healthcare Opportunities, Omega Funds, and OrbiMed
The transaction is expected to close in mid-2025
BOSTON and SAN DIEGO, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Ikena Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKNA#NASDAQ">IKNA</a>, "Ikena, "))) and Inmagene Biopharmaceuticals ("Inmagene") announced they have entered into a definitive merger agreement. In connection with the merger, Ikena has entered into subscription agreements for a $75 million private placement (the "Financing") with a syndicate that includes new investors such as Deep Track Capital, Foresite Capital, RTW Investments, and existing Ikena investors such as BVF Partners L.P., Blue Owl Healthcare Opportunities, Omega Funds, and OrbiMed. The combined company will focus on the development of IMG-007, a monoclonal antibody (mAb) targeting OX40, for the treatment of atopic dermatitis. The combined company plans to operate under the name "ImageneBio, Inc." ("ImageneBio") and trade on NASDAQ under the ticker "IMA".

IKNA

Ikena And Inmagene Enter Merger Agreement; $175M To Support IMG-007 Development, Includes $75M Private Placement; Combined Company ImageneBio To Target Atopic Dermatitis; Expected Close Mid-2025 And Trade On Nasdaq Under The Ticker "IMA"

DESP

Despegar shares are trading higher. The company announced it will be acquired by Prosus in $1.7 Billion deal.

U.S. stock futures were mixed this morning, with the Dow futures falling around 0.2% on Monday.
Shares of Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell sharply in today's pre-market trading after a US jury reportedly found Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) did not breach Nuvia&#8217;s license agreement <a href="https://www.benzinga.com/quote/ARM">with the company</a>.
Arm Holdings shares fell 2.3% to $129.14 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) shares dipped 11% to $15.00 in pre-market trading.</li>
<li>Astria Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXS#NASDAQ">ATXS</a>) shares declined 10.8% to $8.53 in pre-market trading.</li>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) declined 8.5% to $5.41 in pre-market trading.</li>
<li>Dnow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNOW#NYSE">DNOW</a>) fell 7.7% to $11.90 in pre-market trading.</li>
<li>DiamondRock Hospitality Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRH#NYSE">DRH</a>) fell 4.3% to $8.92 in pre-market trading.</li>
<li>NI Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NODK#NASDAQ">NODK</a>) fell 3.8% to $14.73 in pre-market trading.</li>
</ul>
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ATXS

DNOW

NODK

SIGA

Arm Holdings And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Immediately prior to the closing (the "Effective Date"), all Foremost shareholders are expected to receive two shares of Rio Grande for every one share of Foremost they hold
VANCOUVER, British Columbia, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ:<a href="https://www.benzinga.com/stock/FMST#NASDAQ">FMST</a>) (CSE:<a href="https://www.benzinga.com/stock/FAT#CSE">FAT</a>) ("Foremost" or the "Company"), an emerging North American uranium and lithium exploration company, is pleased to announce that shareholders of Foremost ("Shareholders") have approved the previously announced plan of arrangement (the "Arrangement") under which the Company will spin-out its gold and silver properties located in Sierra County, New Mexico, United States (collectively, the "Winston Property") to Shareholders through Rio Grande Resources Ltd. ("Rio Grande"), a wholly-owned subsidiary of the Company.

FMST

Foremost Clean Energy Announces Approval Of The Winston Gold And Silver Spin-Out

MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) shares are trading higher on Friday after the company provided a solid fourth-quarter outlook and raised its <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41665296/mastec-announces-third-quarter-2024-financial-results-and-increases-guidance-for-the-year" rel="noreferrer noopener">FY24 adjusted EPS&nbsp;guidance</a>.



On Thursday, the company reported&nbsp;revenue of $3.25 billion, missing the consensus of $3.42 billion.



The company&#8217;s 18-month backlog as of September&nbsp;30, stood at $13.9 billion, up&nbsp;$1.4 billion&nbsp;from the&nbsp;third quarter&nbsp;of 2023.



Adjusted EBITDA rose to $305.9 million from $271.1 million in the quarter, with margins expanding to 9.4% from 8.3% a year ago.



Adjusted EPS&nbsp;of $1.63&nbsp;topped <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of $1.23</a>.



Operating cash flow for the nine months came in at $649.9 million and net debt stood at $2.14 billion as of September 30.



Paul DiMarco, MasTec&#8217;s Executive Vice President and Chief Financial Officer, said, &#8220;We again significantly exceeded our cash flow targets, generating&nbsp;$278 million&nbsp;of cash flow from operations in the quarter and driving net debt leverage down to 2.2x. The macrotrends in our end markets remain favorable and we will prioritize capital allocation to take advantage of opportunities for growth.&#8221;



Outlook: MasTec sees fourth-quarter adjusted EPS of $1.29 versus the consensus of $0.94 and sales of $3.325 billion<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> against the estimate of $3.318 billion</a>.



MasTec raised FY24 adjusted EPS guidance from $3.03 to $3.75 compared to the $3.04 estimate and lowered sales guidance from $12.40 billion to $12.225 billion compared to the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40115879/mastec-announces-second-quarter-2024-financial-results-and-updates-guidance-for-the-year" rel="noreferrer noopener">street view of $12.399 billion</a>.



Investors can gain exposure to the stock via Invesco S&amp;P Midcap 400 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>) and SHRT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHRT#NYSE">SHRT</a>).



Price Action: MTZ shares are up 10.6% at $135.88 at the last check Friday.



Image via Shutterstock



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