Streetbeat News

Assets

BJ

BJ's Wholesale Club projects its FY24 adjusted EPS to be between $3.75 and $4.00, slightly below the $3.98 estimate. The company expects comparable club sales, excluding gasoline, to grow 1% to 2% year-over-year, and merchandise gross margins to improve by about 20 basis points. Capital expenditures are anticipated to be around $500 million.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 11:49 am

DOGE

SHIB

SOL

The meme coin 'Jeo Boden' (BODEN) saw a dramatic increase, outperforming Dogecoin (DOGE) and Shiba Inu (SHIB), with over 100x returns in a single day. This surge comes amid a broader interest in meme coins, with Solana (SOL) becoming a popular platform for such tokens. Despite the gains, investors are cautioned about the high volatility and speculative nature of meme coins.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 8:05 am

AAPL

Apple Inc.'s ambitious car project, known as 'Titan,' has been canceled after a decade of development and billions of dollars invested. Initiated by Steve Jobs, the project faced leadership indecision, technical challenges, and was unable to produce a commercially viable product. Despite exploring partnerships with major automakers and pouring roughly $1 billion annually into Titan, Apple encountered insurmountable technical and economic hurdles, leading to the project's termination and the potential layoff of about 2,000 employees.

Portfolio Pulse from Ramakrishnan M

March 07, 2024 | 7:58 am

CDMO

Avid Bioservices announced a private placement of $160M in 7.00% convertible senior notes due 2029, with the offering closing expected on March 12, 2024. The notes were sold to qualified institutional buyers under Rule 144A of the Securities Act.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:50 am

EWG

Germany's factory orders for January experienced a significant decline of 11.3%, which was a steeper drop than the estimated 6.0%. This follows a revised prior increase of 12.0%.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:15 am

EWU

The U.K. Halifax House Price Index for February showed a year-over-year increase of 0.4%, which is below the estimated 0.8% and a decrease from the prior month's revised figure of 1.2%.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:15 am

EWU

The U.K. Halifax House Price Index for February showed a month-on-month increase of 1.7%, a decrease from the previous month's revised figure of 2.3%.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:14 am

BTCUSD

The Arizona Senate is considering a proposal, Senate Concurrent Resolution 1016, that could allow the state's government employee retirement funds to invest in Bitcoin ETFs and other digital asset-based ETFs. Introduced by State Sen. Jake Hoffman, Warren Petersen, and Rep. Joseph Chaplik, the resolution acknowledges Bitcoin's market surge and its significant market capitalization. It aims to explore the potential benefits and risks of including digital assets in the investment portfolios of Arizona's state pensions, which already invest in precious metals ETFs.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 7:13 am

XRX

Xerox Holdings Corporation has upsized its offering of 3.75% Convertible Senior Notes due 2030 to $350 million, an increase of $50 million from the initial announcement. The proceeds will fund capped call transactions, refinance existing senior notes due in 2024 and 2025, repay other debts, and cover related fees and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:10 am

XRX

Xerox Holdings Corporation (NASDAQ:XRX) has successfully priced an upsized offering of $500 million in 8.875% Senior Notes due 2029, an increase of $100 million from the initial announcement. The proceeds will be used to refinance existing debts, including all outstanding 3.800% Senior Notes due 2024 and a portion of 5.000% Senior Notes due 2025, as well as to repay, repurchase, or redeem other outstanding debts and cover related fees and expenses.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:06 am