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SB

Safe Bulkers, Inc. has announced the sale of a 2015-built Kamsarmax class dry-bulk vessel for a gross sale price of $26.6 million.

Portfolio Pulse from Bill Haddad

November 27, 2023 | 2:01 pm

AAPL

Over the past 15 years, Apple Inc. (AAPL) has significantly outperformed the market, providing an average annual return of 31.0%. A $100 investment in AAPL 15 years ago would be worth $5,972.16 today. Apple's market capitalization currently stands at $2.95 trillion.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 2:00 pm

SYRE

Spyre Therapeutics is set to begin trading on Nasdaq under the symbol 'SYRE' starting November 28, 2023. The company reported having $205 million in cash, cash equivalents, marketable securities, and restricted cash as of September 30, 2023, which is expected to fund operations into 2026.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:43 pm

FG

UIS

Unisys Corporation (NYSE:UIS) has transferred a portion of its U.S. pension obligations to F&G Annuities & Life, Inc. (NYSE:FG) through the purchase of group annuity contracts worth $250 million. This move, which affects about 3,900 retirees, is part of Unisys's strategy to reduce pension liabilities and volatility without impacting retirees' payment amounts or timing. The transaction will result in a one-time, non-cash, pre-tax settlement charge of approximately $244 million for Unisys, but will not affect the company's cash position.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:39 pm

PGY

Pagaya Technologies LTD. (NASDAQ:PGY) has closed its fourth auto asset-backed securitization (ABS) deal of 2023, named RPM 2023-4, bringing its total auto issuance to $1.4 billion and overall ABS transactions to $6.3 billion for the year. The deal, rated by Kroll Bond Rating Agency, includes loans from a top 4 US auto captive and reflects Pagaya's growing network and investor demand. Pagaya's AI-driven financial products have attracted over $18 billion in ABS transactions since 2018, with a network of 90+ institutional investors.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:38 pm

FCG

USO

Oil prices fell as OPEC+ postponed its meeting to discuss output quotas due to a dispute over African quota with Nigeria and Angola. Brent crude dropped below $80 a barrel, and WTI fell to $74.61. The USO ETF declined by 1.7% in pre-market trade, while the FCG ETF was down 2.6%. High supply and lower demand, along with record U.S. production and warmer weather, are influencing the market. Saudi Arabia and Russia may consider deeper production cuts at the upcoming meeting, which could impact prices.

Portfolio Pulse from Neil Dennis

November 27, 2023 | 1:34 pm

IHRT

iHeartMedia, Inc. expects to receive approximately $100M from the sale of Broadcast Music, Inc. to a group led by New Mountain Capital, LLC. The proceeds from iHeartMedia's equity interest in BMI will be used for general corporate purposes, potentially including debt repayment. The sale is subject to BMI shareholder and regulatory approvals and is expected to close by the end of Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:11 pm

LHX

L3Harris Technologies has entered into a definitive agreement to sell its Commercial Aviation Solutions business to The Jordan Company (TJC) for $800 million. This strategic divestiture will allow L3Harris to focus on its core business and potentially improve its financial metrics.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:10 pm

SPY

USA Building Permits for the month showed an increase of 1.8%, surpassing the estimated 1.1%. This is a significant improvement from the previous month's decline of 4.5%.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:01 pm

BAC

Bank of America (NYSE:BAC) has seen an 11.96% increase in short interest since its last report, with 70.96 million shares sold short, representing 1.03% of available shares. The short interest is higher than the peer group average of 0.80%. While this indicates more bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 1:00 pm