Streetbeat News

Bankruptcy

ANTX

BLND

DOCS

ITI

MMAT

VEV

U.S. stocks traded mixed with the Nasdaq Composite gaining over 50 points. Crude oil prices rose, and the number of active U.S. oil rigs increased by three. Blend Labs, Doximity, and Iteris shares surged following positive financial results and acquisition news, while AN2 Therapeutics, Vicinity Motor, and Meta Materials saw significant declines due to negative developments.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 6:38 pm

MMAT

Meta Materials shares are trading lower after the company disclosed in an SEC filing that it ceased operations and filed for Chapter 7 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 1:54 pm

MMAT

On August 9, 2024, Meta Materials ceased operations and filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 1:48 pm

BHC

Bausch Health's plan to spin off its eye-care subsidiary, Bausch + Lomb, is facing a standoff between major shareholders and creditors. Shareholders like Carl Icahn and Paulson & Co. are against a bankruptcy filing, while creditors, including Elliott and Apollo, support it to restructure over $22 billion in debt.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:06 pm

TLIS

Talis Biomedical Corp (NASDAQ:TLIS) shares plummeted by 49% to $4.58 following the announcement of board restructuring, new director appointments, and updates on potential bankruptcy proceedings. Heinrich Dreismann resigned, and Patricia Ferrari and John T. Young, Jr. were elected to the board and appointed to a Special Restructuring Committee to manage ongoing litigation and potential bankruptcy. Both have extensive experience in bankruptcy and liquidation advisory.

Portfolio Pulse from Henry Khederian

August 07, 2024 | 2:09 pm

SPWR

SWI

SolarWinds Corp. (NYSE: SWI) will replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 index following SunPower's Chapter 11 bankruptcy filing. The change will be effective prior to the opening of trading on Friday, August 9.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 6:28 am

CSLRW

SEDG

SPWR

SunPower Corporation (NASDAQ:SPWR) has filed for Chapter 11 bankruptcy, which some investors believe could benefit the solar industry by eliminating weaker players. SunPower has agreed to sell key assets to Complete Solaria Inc. (NASDAQ:CSLRW) for $45 million. Despite SunPower's struggles, analysts suggest the bankruptcy is specific to the company and not indicative of broader industry issues. SolarEdge Technologies, Inc. (NASDAQ:SEDG) is set to report earnings soon.

Portfolio Pulse from Michael Juliano

August 06, 2024 | 10:19 pm

SPWR

SWI

SolarWinds will replace SunPower in the S&P SmallCap 600 index, effective before the opening of trading on August 9. SunPower has filed for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:30 pm

CSLR

SPWR

SunPower Corporation (NASDAQ:SPWR) has filed for Chapter 11 bankruptcy and is seeking a buyer for key assets. Complete Solaria, Inc. (NASDAQ:CSLR) will acquire SunPower’s Blue Raven Solar business, New Homes business, and non-installing Dealer network for $45 million, pending Court approval. SunPower plans to liquidate remaining assets and wind down operations.

Portfolio Pulse from Lekha Gupta

August 06, 2024 | 3:52 pm

CSLR

Complete Solaria shares are trading higher after the company announced that it received a 'Stalking Horse' position in the SunPower Chapter 11 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 1:07 pm