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SPY

USO

The latest report on USA crude oil inventories shows a draw of 2.191 million barrels, contrary to the expected build of 1.800 million barrels and the previous build of 5.810 million barrels. This unexpected draw could impact oil-related assets.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 3:00 pm

CGC

Canopy Growth Corporation has prepaid $100 million on its senior secured loan, saving $14 million in interest and reducing debt. This move is part of their strategy to enhance financial discipline and balance sheet flexibility, following their acquisition of the edibles brand Wana.

Portfolio Pulse from Nina Zdinjak

October 17, 2024 | 1:33 pm

PEGY

Pineapple Energy Inc. (NASDAQ:PEGY) has terminated the lease for its former headquarters in Minnetonka, Minnesota, resulting in expected savings of approximately $480,000. The lease was originally set to expire in 2027, and the termination will save the company $17,500 per month in rent. A one-time buyout fee will be paid over 14 months.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:32 pm

BTCUSD

Galaxy Research reports a slowdown in crypto venture capital activity in Q3, with a 20% decrease in investment and a 17% drop in deals. Early-stage investments dominate, while AI-related crypto projects see a surge. The US remains a key hub for crypto VC investment.

Portfolio Pulse from Ivan Crnogatić

October 17, 2024 | 1:16 pm

SLQT

SelectQuote, Inc. (NYSE:SLQT) shares surged after announcing a $100 million securitization deal, which will help reduce debt and lower capital costs. The transaction extends debt maturity and improves financial stability, despite recent earnings misses.

Portfolio Pulse from Lekha Gupta

October 17, 2024 | 1:15 pm

SGD

Safe And Green Development Corporation addressed shareholders about a recent reverse stock split, a declining market cap, and highlighted $50M in real estate assets. The company plans strategic growth and anticipates revenue from South Texas in 2025.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:04 pm

SQFT

Presidio Property Trust, a diversified REIT, reported its Q3 2024 model home activity. The company acquired seven model homes in Texas for ~$4M, with $2.8M in mortgage notes and $1.2M in cash, leasing them back to builders on a triple-net basis. Additionally, Presidio sold four homes for ~$2.4M, originally purchased for ~$2.1M. Model homes represent 30% of their real estate assets.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 12:53 pm

JBLU

JETS

SAVE

UAL

Spirit Airlines is facing potential bankruptcy as it struggles with financial woes, including mounting debt and a failed merger with JetBlue. The airline is expediting the retirement of its Airbus A319 fleet to cut costs. Meanwhile, competitors like United Airlines are thriving, and the U.S. Global Jets ETF is hitting new highs.

Portfolio Pulse from Surbhi Jain

October 17, 2024 | 12:34 pm

LMFA

LM Funding America reported its Bitcoin holdings valued at $9.6 million as of September 30, 2024, with a total of 142.3 Bitcoin held.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 12:33 pm

PPG

PPG Industries plans a cost reduction program with expected annualized pre-tax savings of $175 million, impacting about 1,800 positions mainly in Europe and the US. The program follows agreements to sell certain business units and includes facility closures.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:08 am