Streetbeat News

Assets

PNM

PNM Resources has priced $500 million in 5.75% junior subordinated convertible notes due 2054. These notes are unsecured and will rank junior to PNM Resources' existing and future senior debt. Interest will be paid semiannually, with the company having the right to defer payments.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 6:33 am

TCOM

Trip.com has priced an offering of $1.3 billion cash-par settled convertible senior notes due 2029. The notes will bear interest at a rate of 0.75% per year, payable semiannually starting December 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 6:07 am

RUN

Sunrun has priced a securitization of leases and power purchase agreements, involving two tranches of A+ rated notes and a single class of BB rated notes. The $443.15 million Class A-1 notes were marketed publicly, while the $443.15 million Class A-2 notes were privately placed, both with a coupon of 6.25%.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 9:44 pm

APTV

Aptiv has announced the pricing of €750 million of 4.250% senior notes due 2036, which will be issued at 99.723% of the principal amount.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 9:02 pm

INTC

Intel Corp (NASDAQ: INTC) shares rose in after-hours trading following the announcement of an $11 billion joint venture with Apollo-managed funds for Intel's Fab 34 in Ireland. The deal allows Intel to unlock and redeploy investment while maintaining control over Fab 34.

Portfolio Pulse from Adam Eckert

June 04, 2024 | 8:44 pm

SPY

USO

The American Petroleum Institute (API) reported a crude oil stock build of 4.05 million barrels, contrary to the expected draw of 1.9 million barrels. This follows a previous draw of 6.49 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 8:40 pm

CRNC

Cerence Inc. (NASDAQ:CRNC) has appointed Tony Rodriquez as its interim CFO, effective June 4, 2024. Rodriquez brings over 25 years of financial leadership experience across various industries.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 8:18 pm

APO

INTC

Intel has entered into a joint venture with Apollo to manufacture wafers at Fab 34, allowing Intel to unlock and redeploy a portion of its investment while maintaining full ownership and operational control of Fab 34.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 8:11 pm

XLRE

Despite the common narrative of doom in office real estate, delinquency data from the Federal Reserve suggests the situation may not be as dire. Delinquency rates in Q1 2024 were 1.16%, higher than pre-pandemic levels but far below historic peaks. The Real Estate Select Sector SPDR Fund ETF (XLRE) is down 4.75% in 2024 but saw a 1.19% increase on Tuesday.

Portfolio Pulse from Hayden Buckfire

June 04, 2024 | 7:24 pm

COIN

GME

A new wallet spent $2 million to acquire 135 million GME meme coins, making it the fourth-largest holder. This significant purchase has driven GME's price up by 32.4% in the past 24 hours and 158.3% over the week. The transaction was funded from Coinbase and is associated with two domains. The SEC is also investigating potential manipulation around GME options activity.

Portfolio Pulse from Khyathi Dalal

June 04, 2024 | 7:19 pm