Yellow Pushes Bankruptcy Loan Talks, Will Select Favorable Deal By Next Week: Report
Portfolio Pulse from Lekha Gupta
Yellow Corp (NASDAQ: YELL) is reportedly pushing bankruptcy loan negotiations to next week. The company is considering two alternative loan proposals, offering $142.5 million in cash. Yellow is seeking alternative financing from MFN Partners and Estes Express Lines. The company recently filed for bankruptcy under Chapter 11 and reported Q2 EPS of $(0.28), beating the consensus of $(0.96), but missed sales consensus of $1.20 billion. YELL shares are trading lower by 11.28% at $1.73.
August 11, 2023 | 6:44 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Yellow Corp is pushing bankruptcy loan talks to next week, which could potentially stabilize the company's financial situation. However, the company's shares are currently trading lower.
The news of Yellow Corp pushing bankruptcy loan talks to next week indicates that the company is actively seeking solutions to its financial troubles. However, the uncertainty surrounding the company's financial future is likely causing investor concern, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100