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Bankruptcy

AKTS

QRVO

Akoustis Technologies (NASDAQ: AKTS) saw a 200% pre-market surge after losing a $39M lawsuit to Qorvo Inc. (NASDAQ: QRVO), raising bankruptcy concerns. The lawsuit impacts Akoustis' ability to raise capital and continue operations.

Portfolio Pulse from Pooja Rajkumari

May 22, 2024 | 11:05 am

TSLA

Elon Musk expressed his sorrow over Red Lobster's Chapter 11 bankruptcy filing. The seafood chain plans to close over 50 branches and restructure under new CEO Jonathan Tibus. Red Lobster has been struggling financially due to operational losses from its 'Ultimate Endless Shrimp' promotion.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 12:50 am

DRI

Red Lobster has filed for Chapter 11 bankruptcy protection, aiming to reduce its number of locations and find a buyer. The company faces significant debt, higher labor costs, and escalating rents. Darden Restaurants (NYSE:DRI), which once owned Red Lobster, could be impacted if similar challenges affect its other brands.

Portfolio Pulse from Aaron Bry

May 20, 2024 | 5:52 pm

AKTS

Akoustis Technologies Inc (NASDAQ:AKTS) shares plummeted by 48% to $0.19 after a jury ruled in favor of Qorvo Inc in a lawsuit, ordering Akoustis to pay $38.6 million in damages. The verdict has created financial uncertainty for Akoustis, potentially impacting their ability to raise capital and continue operations, and may lead them to consider bankruptcy protection.

Portfolio Pulse from Henry Khederian

May 20, 2024 | 4:11 pm

AUUD

Auddia Inc. has expressed concerns regarding its ability to maintain sufficient liquidity to operate its business effectively, indicating potential financial instability.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:55 pm

SPY

Fed Chair Powell expressed concerns over very fast growth in any sector, highlighting the substantial ties between banks and nonbank financial firms. He emphasized the importance of careful monitoring to ensure financial stability.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:51 pm

SPY

Federal Reserve's Logan emphasized the ease of using the Discount Window once banks are enrolled, highlighting its accessibility for financial institutions.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:09 pm

SPY

Fed's Logan emphasized the critical importance of banks having a broad set of funding arrangements, including the Fed's Discount Window. She advocates for all banks to sign up and regularly test the Discount Window to ensure financial stability.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:08 pm

BTCUSD

FTX, a bankrupt cryptocurrency exchange, announced plans to reimburse customers based on the value of their assets during its bankruptcy filing in November 2022, not their current value. This has caused dissatisfaction among customers as the value of cryptocurrencies, such as Bitcoin, has significantly increased since then. FTX has a substantial cash reserve, allowing it to fully reimburse its customers, with CEO John Ray stating the company will distribute $16.3 billion in cash among its creditors. Bitcoin's price action saw a slight decrease, trading 1.76% lower at $61,295.70.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 8:36 am

CZOO

Cazoo shares are trading lower following the company's announcement that it may consider filing for administration or winding up if some of its units file for administration or liquidation.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 4:45 pm