Streetbeat News

Assets

ACI

KR

Kroger has extended its exchange offers and consent solicitations for Albertsons Companies, involving up to $7.44 billion in new notes and cash. The expiration date has been moved from September 23 to September 27.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 12:36 pm

NBY

NovaBay Pharmaceuticals has entered into a definitive agreement to sell its Avenova assets for $9.5 million, with the transaction expected to close in the fourth quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 12:04 pm

MTDR

Matador Resources plans to offer $750 million in senior unsecured notes due 2033 in a private placement. The proceeds will be used to repay borrowings under its credit facility.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2024 | 11:39 am

ALB

EQNR

HON

The U.S. Energy Department is set to award $3 billion to 25 projects in the battery manufacturing sector across 14 states. This initiative aims to boost domestic battery production and reduce reliance on foreign supply chains.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 9:16 am

KANT

Kineta transitions from Nasdaq to OTC Markets, trading under 'KANT'. The company continues to explore strategic alternatives, with TuHURA Biosciences having exclusivity rights for Kineta's KVA12123 program, which is in Phase 1 study.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 6:13 am

BLK

IBIT

BlackRock Inc. (NYSE:BLK) has highlighted Bitcoin as a potential hedge against the U.S. federal deficit and debt crisis, which stands at $35 trillion. The asset manager's advocacy for Bitcoin, including the launch of the iShares Bitcoin Trust ETF (NASDAQ:IBIT), is seen as a strategic move to diversify against fiscal and geopolitical risks.

Portfolio Pulse from Aniket Verma

September 20, 2024 | 2:07 am

MBB

MORT

REM

Mortgage rates are nearing 6% following a Federal Reserve rate cut, increasing demand for refinancing and home purchases. ETFs holding mortgage stocks, such as iShares Mortgage Real Estate ETF, VanEck Mortgage REIT Income ETF, and iShares MBS ETF, have seen slight increases.

Portfolio Pulse from Michael Juliano

September 19, 2024 | 10:30 pm

WFG

West Fraser Timber Co. Ltd. (NYSE:WFG) will indefinitely curtail its sawmill in Lake Butler, Florida, due to high fiber costs and soft lumber markets. This decision will impact 130 employees and reduce U.S. lumber capacity by 110 million board feet. An impairment charge is expected in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 9:05 pm

ALCE

Alternus Clean Energy has terminated its agreement with C2 Taiyo Fund I, LLP to acquire 80MWp solar installations across 8 U.S. states due to the seller's failure to meet closing conditions and changes in the asset portfolio.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:21 pm

NWTN

NWTN has suspended the production of Rabdan vehicles following a directive from UAE authorities. The company is rebadging 320 vehicles, expects a $17 million inventory impairment, and is reducing its workforce by 57%. NWTN is also exploring new partnerships to navigate these challenges.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:15 pm