Streetbeat News

Bankruptcy

FSRN

Former employees of Fisker Inc. (OTC: FSRN) have accused the EV startup of launching products without a proper repair plan, relying on disassembled cars for parts. The company is also facing financial difficulties, potential bankruptcy, and a probe by the National Highway Traffic Safety Administration.

Portfolio Pulse from Anan Ashraf

June 04, 2024 | 10:46 am

BACA

Berenson Acquisition has revealed substantial doubt about its ability to continue as a going concern, as noted in its annual report for the fiscal year ended December 31, 2023. The audit opinion from its independent registered public accounting firm included an explanatory paragraph highlighting this concern.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 9:06 pm

BPTH

CAMP

CNSP

GME

LSCC

MBOT

SAIC

U.S. stocks traded mostly lower with the Dow Jones falling over 300 points. GameStop shares spiked 35% after a Reddit post by Roaring Kitty. Bio-Path Holdings and Microbot Medical saw significant gains due to positive news, while CalAmp Corp shares plummeted 60% following a Chapter 11 bankruptcy filing. Lattice Semiconductor and CNS Pharmaceuticals also experienced notable declines.

Portfolio Pulse from Avi Kapoor

June 03, 2024 | 6:35 pm

HCSG

Healthcare Services Group, Inc. (NASDAQ:HCSG) announced a Q2 non-cash charge of ~$0.20 per share due to LaVie Care Centers' Chapter 11 bankruptcy filing. HCSG expects no disruption in postpetition payments and maintains its Q2 and 2024 adjusted cash flow expectations.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 4:37 pm

BPTH

CAMP

CNSP

GME

LSCC

MBOT

U.S. stocks traded mostly lower with the Dow Jones falling over 200 points. Crude oil prices dropped by 3.4%, and U.S. construction spending fell by 0.1% in April. Notable stock movements include Bio-Path Holdings, Microbot Medical, and GameStop rising significantly, while CalAmp Corp, Lattice Semiconductor, and CNS Pharmaceuticals saw substantial declines.

Portfolio Pulse from Avi Kapoor

June 03, 2024 | 4:00 pm

CAMP

CalAmp Corp (NASDAQ:CAMP) shares dropped by 53% to $1.25 after announcing a Restructuring Support Agreement with Lynrock Lake Master Fund LP, which will take the company private. CalAmp will convert $229 million of Convertible Senior Secured Notes into equity and has initiated Chapter 11 bankruptcy proceedings to facilitate the transaction.

Portfolio Pulse from Henry Khederian

June 03, 2024 | 2:04 pm

OHI

Omega Healthcare Investors, Inc. (NYSE: OHI) has committed $10 million to support LaVie Care Centers during its Chapter 11 bankruptcy. This funding will ensure operational liquidity and maintain quality care at LaVie facilities. Omega expects sustainable cash flow and long-term rent from its LaVie portfolio.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 12:07 pm

HLTH

Cue Health Inc (NASDAQ:HLTH) shares plummeted by 24.9% to $0.07 after the company filed for Chapter 7 bankruptcy to wind down its business. The company also terminated its Loan and Security Agreement, which included a $100 million secured revolving credit facility and a $20 million letter of credit subfacility.

Portfolio Pulse from Henry Khederian

May 29, 2024 | 7:36 pm

AAL

AAP

BNAI

FFIE

HLTH

LUCY

RSLS

U.S. stocks traded lower with the Dow Jones falling over 350 points. Advance Auto Parts shares fell over 6% after Q1 results missed sales expectations. ReShape Lifesciences, Brand Engagement Network, and Innovative Eyewear saw significant gains, while Cue Health, American Airlines, and Faraday Future experienced sharp declines.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 4:02 pm

HLTH

Cue Health shares are trading lower after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 12:36 pm