Streetbeat News

Bankruptcy

FTTUSD

Bankrupt cryptocurrency exchange FTX plans for a potential revival under new CEO John Ray, with a possible relaunch in Q2 2024. FTX has recovered $7.3 billion in assets and the native FTX (CRYPTO: FTT) Token experienced a 13% jump after the news.

Portfolio Pulse from Murtuza Merchant

May 23, 2023 | 7:43 pm

RIDE

Lordstown Motors announced a 1:15 reverse stock split of its Class A common stock effective May 24, 2023, to improve marketability and liquidity. The stock has plunged 73.5% YTD and 13% last week. The company faces potential bankruptcy after Foxconn Ventures sought to withdraw from a $170 million investment deal.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 1:14 pm

LMFA

LM Funding America has announced a stalking horse bid to purchase the assets of Symbiont.io for $2.6 million as the company undergoes Chapter 11 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:31 pm

UFAB

Unique Fabricating, Inc. (UFAB) has announced an accommodation agreement and a new forbearance agreement to support its restructuring or sale process.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:10 pm

KBE

KRE

SPY

XLF

Federal Reserve Bank of Minneapolis President Neel Kashkari stated that it is 'far too soon to declare all clear' on banking problems, indicating potential risks in the financial sector.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:22 pm

SGHL

Signal Hill Acquisition Corp. (SGHL) has announced its liquidation, which will result in the dissolution of the company.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:01 pm

FRCB

JPM

JPMorgan Chase raises its 2023 net interest income (NII) guidance to $84 billion, up from $81 billion, reflecting optimism about the takeover of First Republic Bank. The acquisition includes $173 billion in loans, $30 billion in securities, and an assumption of $92 billion in deposits.

Portfolio Pulse from Lekha Gupta

May 22, 2023 | 4:11 pm

KBE

KRE

SIVBQ

SPY

XLF

Atlanta Fed President Bostic states that the collapse of SVB highlights the need for the Federal Reserve to change its processes and policies to become more 'on demand' as banks require them.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 3:57 pm

MS

Morgan Stanley CEO James Gorman stated that the bank is 'very' insulated from a banking crisis, suggesting strong financial stability and risk management.

Portfolio Pulse from Benzinga Newsdesk

May 19, 2023 | 1:07 pm