Streetbeat News

Bankruptcy

JNJ

Johnson & Johnson's subsidiary, Red River Talc, has filed for a voluntary prepackaged Chapter 11 bankruptcy to address current and future ovarian cancer talc claims.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 7:36 pm

CGC

Tokyo Smoke, a Canadian cannabis retailer, is restructuring and has entered a $56.7M share deal with its parent company, TS Investments Corp. Previously owned by Canopy Growth Corporation (NASDAQ:CGC), Tokyo Smoke is closing 29 stores and seeking buyers or investors to improve its business. The restructuring aims to align with market conditions and exit CCAA protection stronger.

Portfolio Pulse from Jelena Martinovic

September 20, 2024 | 3:37 pm

TUP

Tupperware Brands Corporation has filed for Chapter 11 bankruptcy due to declining demand and a lack of e-commerce strategy. The company plans to maintain operations and transform into a digital-first organization.

Portfolio Pulse from Nabaparna Bhattacharya

September 18, 2024 | 3:03 pm

BFI

CMP

GLMD

KRRO

NCPL

TUP

U.S. stocks mostly rose with the Nasdaq Composite gaining 0.2%. Energy shares increased by 1.3%, while healthcare shares fell by 1.1%. Notable stock movements included BurgerFi International's 88% rise, Galmed Pharmaceuticals' 422% surge, and Compass Minerals' 24% gain. Tupperware Brands dropped 58% amid bankruptcy concerns.

Portfolio Pulse from Avi Kapoor

September 17, 2024 | 6:31 pm

TUP

Tupperware Brands Corp (NYSE:TUP) is reportedly preparing to file for bankruptcy, causing its stock to plummet nearly 60%. The company breached debt terms and is seeking court protection, though plans are not finalized. Tupperware's stock remains volatile.

Portfolio Pulse from Adam Eckert

September 17, 2024 | 5:09 pm

BFI

CMP

GLMD

KRRO

NCPL

TUP

U.S. stocks rose with the Dow Jones, NASDAQ, and S&P 500 all gaining. Notable stock movements included BurgerFi International's 96% surge after securing financing, Galmed Pharmaceuticals' 99% jump after regaining Nasdaq compliance, and Compass Minerals' 28% rise on strong revenue forecasts. Tupperware Brands fell 58% amid bankruptcy concerns, while Netcapital and Korro Bio also saw declines.

Portfolio Pulse from Avi Kapoor

September 17, 2024 | 4:16 pm

TUP

Tupperware Brands shares are declining due to reports of a potential bankruptcy filing.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 3:47 pm

BFI

BurgerFi International Inc. (NASDAQ:BFI) shares surged after securing $3.5 million in interim court-approved financing to support its Chapter 11 restructuring. The funding, from TREW Capital Management, ensures continued operations at its 144 locations. The company plans a sale process and leadership changes as part of its restructuring efforts.

Portfolio Pulse from Vaishali Prayag

September 17, 2024 | 3:25 pm

SWVL

Wolfpack Research has issued a report on Swvl Holdings, a 'Transportation-as-a-Service' start-up, suggesting that the company is close to bankruptcy. This report could have significant implications for Swvl's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 2:16 pm

BFI

GLMD

NCPL

OBLG

SMSI

TUP

U.S. stocks rose with the Nasdaq gaining 100 points, driven by better-than-expected retail sales. Notable stock movements include BurgerFi's 101% surge due to financing approval, Galmed Pharmaceuticals' 110% rise after regaining Nasdaq compliance, and Tupperware's 58% drop amid bankruptcy concerns.

Portfolio Pulse from Avi Kapoor

September 17, 2024 | 2:05 pm