Streetbeat News

Bankruptcy

JPM

The Federal Reserve has issued an enforcement action against JPMorgan Chase, resulting in a fine of approximately $98.2 million. This action is significant as it directly involves one of the largest banking institutions in the United States.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:06 pm

FSR

Fisker Inc (NYSE:FSR) shares plummeted following reports the EV maker is considering bankruptcy, with restructuring advisers from FTI Consulting and Davis Polk reportedly hired. This news follows Fisker's preliminary Q4 results and warnings of substantial doubt about its ongoing viability. Despite $272.9 million in sales last year and $395.9 million in cash and equivalents, Fisker faces over $1 billion in debt.

Portfolio Pulse from Adam Eckert

March 14, 2024 | 1:09 pm

FSR

HOOD

MMM

QQQ

S

SPY

Wall Street anticipates a strong start ahead of inflation data, with stock futures up. The optimism is driven by hopes for interest rate cuts and AI excitement, despite challenges like high rates and negative earnings revisions. 3M Co. rallied after announcing a new CEO, influencing the Dow's performance. Analyst Lisa Shalett advises seeking value in U.S. equities beyond AI, highlighting sectors like energy and healthcare. Premarket trading saw SPDR S&P 500 ETF Trust and Invesco QQQ ETF rise. SentinelOne, Robinhood, and Fisker Inc. experienced significant premarket moves due to earnings and bankruptcy news, respectively.

Portfolio Pulse from Shanthi Rexaline

March 14, 2024 | 11:39 am

FSR

Fisker shares are trading lower after a Wall Street Journal report indicated the company might be preparing for a possible bankruptcy filing.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 11:09 am

FSR

Fisker Inc. (NYSE:FSR) shares dropped after hours following a Wall Street Journal report about the company's potential bankruptcy filing. The company, facing over $1 billion in debt and significant losses, has hired restructuring advisers. This news comes after a recent negative review of Fisker's Ocean SUV by tech YouTuber Marques Brownlee and a 15% workforce reduction.

Portfolio Pulse from Erica Kollmann

March 13, 2024 | 9:06 pm

FSR

Fisker's stock price has declined following a report by the Wall Street Journal indicating that the company is considering filing for bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:32 pm

FSR

Electric vehicle startup Fisker is reportedly preparing for a possible bankruptcy filing, according to The Wall Street Journal. This news could indicate significant financial struggles within the company, potentially impacting its future operations and stock price.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:28 pm

EVA

Enviva's shares are trading lower, likely due to market volatility following the announcement of voluntary Chapter 11 bankruptcy proceedings. The company also announced a reduction of $1 billion in debt and secured $500 million in new financing.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:25 pm

PIII

P3 Health Partners shares are trading lower following the company's announcement of doubts about its ability to continue as a going concern, citing insufficient cash to support its planned operations for the next 12 months.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:25 pm

EVA

Enviva has initiated voluntary Chapter 11 proceedings as part of a pre-arranged restructuring plan aimed at reducing its debt by approximately $1.0 billion and securing $500 million in new financing. This move is intended to improve profitability and position the company for long-term success, while continuing its operations and transformation plan.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:59 am