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BXMT

Blackstone Real Estate Debt Strategies, Blackstone Real Estate Income Trust, CPP Investments, and Rialto Capital have acquired a 20% equity stake in a joint venture with the FDIC, holding a $16.8 billion commercial real estate loan portfolio from the defunct Signature Bank. The FDIC retains an 80% stake and provided 50% financing. The portfolio consists of over 2,600 loans, mostly performing and fixed-rate, in the New York area. Blackstone will manage the assets, and Rialto will service the loans. CPP Investments' credit portfolio is valued at C$75 billion as of September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:38 pm

AL

Air Lease Corporation has delivered two new Airbus aircraft to Sunclass Airlines of Denmark. The delivery includes one A321-200neo and one A330-900neo, both on long-term lease from ALC's order book with Airbus. The aircraft were delivered in December.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:37 pm

UIS

Unisys Corporation (NYSE:UIS) has revised its estimate for a one-time, non-cash, pre-tax settlement charge from approximately $244 million to $179 million. This charge is related to the purchase of group annuity contracts intended to transfer a portion of its U.S. pension obligations. The final settlement charge will be disclosed with the company's year-end 2023 financial results.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:31 pm

HSCS

Heart Test Laboratories reported approximately $100,000 in cash and cash equivalents for Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:23 pm

LNC

Lincoln Financial Group (NYSE:LNC) has agreed to sell its wealth management business to Osaic, Inc. The deal, expected to close in the first half of 2024, will provide Lincoln with a $700 million capital benefit, which will be used to improve its risk-based capital ratio and reduce its leverage ratio. The transaction includes the sale of Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation, with approximately 1,450 financial professionals. Lincoln will retain Lincoln Financial Distributors and its independent agents, and expand its distribution relationship with Osaic. There are no expected material impacts to Lincoln's free cash flow or earnings from this transaction.

Portfolio Pulse from Happy Mohamed

December 14, 2023 | 9:07 pm

SCHW

Shares of The Charles Schwab Corporation (NYSE:SCHW) rose after the company reported a 7% increase in total client assets to $8.18 trillion in its November activity report. Other positive figures included $21.7 billion in core net new assets and a $5.0 billion increase in transactional sweep cash. The stock's recent success is attributed to falling Treasury yields and the Fed's decision to maintain interest rates. At the time of publication, SCHW shares were up 6.61% at $70.69.

Portfolio Pulse from Ryan Gustafson

December 14, 2023 | 8:56 pm

SBAC

SBA Communications Corporation's (NYSE:SBAC) short interest has increased by 6.19% since the last report, with 2.76 million shares sold short, representing 3.09% of available shares. It would take about 4.02 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. SBAC has less short interest compared to its peer group average of 4.46%.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 8:15 pm

BLK

IEF

IVV

QQQ

SPY

VCIT

VGIT

VTI

BlackRock Inc (NYSE:BLK) predicts no rate cuts until the second half of 2024, suggesting frequent portfolio adjustments may be necessary due to various factors including geopolitical risks, election cycles, the U.S. fiscal situation, and central bank policies. Gargi Pal Chaudhuri, head of iShares Investment Strategy Americas at BlackRock, advises against staying in cash and recommends deploying cash selectively in fixed income and equities, with a focus on downside protection. ETFs are recommended for their efficiency in adjusting to market changes. Popular U.S. equity and intermediate-term bond ETFs are mentioned as investment vehicles.

Portfolio Pulse from Surbhi Jain

December 14, 2023 | 7:49 pm

BLK

Valkyrie Investments has submitted its fourth amendment to the Spot Bitcoin ETF application, indicating a continuous offering for up to three years from the original offering date. CoinShares has obtained an exclusive option to acquire Valkyrie Funds, and BlackRock has enabled Wall Street banks to indirectly own crypto assets in the spot Bitcoin ETF. The SEC's recent interactions with BlackRock and Fidelity suggest an open dialogue, with market expectations that all ETF applications will be approved simultaneously to prevent a first-mover advantage. Valkyrie's approval deadline is January 10, 2024.

Portfolio Pulse from Khyathi Dalal

December 14, 2023 | 7:17 pm