Market-Moving News for July 19th
Portfolio Pulse from ryanfaloona@benzinga.com
Carvana (CVNA) has reached an agreement with noteholders to eliminate over 83% of 2025 and 2027 unsecured note maturities, reducing cash interest expense by over $430M per year for the next two years. Panbela Therapeutics (PBLA) will receive up to $9.5M for divesting assets within its Eflornithine Pediatric Neuroblastoma Program to US WorldMeds. AT&T (T) shares are trading higher after the company confirmed less than 10% of its nationwide copper-wire telecom network has lead-clad cables.
July 19, 2023 | 12:33 pm
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POSITIVE IMPACT
Carvana's agreement with noteholders will significantly reduce its cash interest expense, improving its financial position.
The reduction in cash interest expense will improve Carvana's financial health, potentially making the stock more attractive to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Panbela Therapeutics will receive up to $9.5M for divesting assets within its Eflornithine Pediatric Neuroblastoma Program.
The divestiture will provide Panbela with additional funds, potentially improving its financial position and making the stock more attractive to investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
AT&T shares are trading higher after the company confirmed less than 10% of its nationwide copper-wire telecom network has lead-clad cables.
The confirmation from AT&T alleviates concerns about potential health and environmental issues, which could have negatively impacted the stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100