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Spirit Airlines plans to furlough around 260 pilots by September 1, 2024, due to grounded aircraft from Pratt & Whitney GTF engine issues and aircraft deferrals for 2025 and 2026. A compensation agreement with Pratt & Whitney is expected to boost Spirit's liquidity by $150-$200 million.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:33 am

EADSY

SAVE

Spirit Airlines has reached an agreement with Airbus to defer the delivery of all ordered aircraft scheduled for Q2 2025 through the end of 2026 to 2030-2031, excluding direct-lease aircraft due in Q2 and Q3 2025. This deferral will improve Spirit's liquidity by approximately $340 million over the next two years, with no changes to deliveries scheduled for 2027-2029.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:31 am

EOG

TTE

TotalEnergies SE (NYSE:TTE) has acquired a 20% stake in the Dorado leases in the Eagle Ford shale gas domain from Lewis Energy Group, increasing its natural gas production capacity in Texas. This acquisition, making TotalEnergies a partner with EOG Resources, Inc. (NYSE:EOG) which holds the remaining 80%, is expected to boost TotalEnergies' net U.S. natural gas production by 50 million cubic feet a day (Mcf/d) in 2024, with potential for an additional 50 Mcf/d by 2028. TotalEnergies, the leading exporter of U.S. LNG in 2023, aims to expand its LNG export capacity to 15 Mt per year by 2030 with the Rio Grande LNG project. However, the company also announced a delay in the final investment decision (FID) for a new LNG project in Papua New Guinea to 2025.

Portfolio Pulse from Lekha Gupta

April 08, 2024 | 10:30 am

TSM

The U.S. Commerce Department plans to award TSMC a $6.6 billion subsidy and up to $5 billion in low-cost loans for expanding semiconductor production in Phoenix, Arizona, according to Reuters.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:23 am

PAAS

Pan American Silver Corp. (NYSE:PAAS) announced new high-grade drill results from its La Colorada Skarn project in Mexico, including a record interval with 22.50 meters at 1,435 g/t Ag, 31.93% Pb, and 20.49% Zn.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 7:10 am

LOT

MDIA

U.S. stocks closed higher on Friday, with the Dow Jones surging over 300 points, driven by positive jobs data and an improvement in investor sentiment as indicated by the CNN Money Fear and Greed index. The index remained in the 'Greed' zone. MediaCo Holding Inc. saw a significant jump in its shares after Standard General L.P. reported a 95.2% stake. Investors are also awaiting earnings results from Lotus Technology Inc.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 6:36 am

EWG

Germany's industrial production for February increased by 2.1%, surpassing the estimated 0.6% and the previous month's revised figure of 1.3%.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 6:01 am

BTCUSD

Ripple CEO Brad Garlinghouse predicts the cryptocurrency market will reach a $5 trillion capitalization this year, driven by the launch of U.S. spot Bitcoin ETFs and the upcoming bitcoin halving. The optimism is also supported by the influx of institutional money and potential positive regulatory changes in the U.S.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 4:59 am

SOL

Crypto analyst Ali Martinez suggests the low crowd sentiment for Solana (SOL) presents a contrarian investment opportunity. Despite a recent downturn, Solana's year-to-date performance is up 74%, but it remains 32.3% below its all-time high. The broader cryptocurrency market, including meme coins, has shown positive trends in 2024.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 4:50 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin saw slight gains as the Bitcoin Halving event approaches, expected around April 20. Coinbase suggests the halving could drive prices up, but faces typical weak seasonal trends. The global cryptocurrency market cap increased by 0.75% to $2.50 trillion. Stock futures also rose slightly. Analyst Michael Van de Poppe predicts Bitcoin could reach $300,000 in this cycle if it breaks through current resistance.

Portfolio Pulse from Mehab Qureshi

April 08, 2024 | 4:34 am