Streetbeat News

Bankruptcy

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Spirit Airlines shares surged after extending its debt refinancing deadline and securing a $300 million credit facility. Despite financial challenges, including a potential bankruptcy exploration, Spirit expects to end the year with over $1 billion in liquidity.

Portfolio Pulse from Adam Eckert

October 21, 2024 | 3:21 pm

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Elon Musk, CEO of Tesla, stated that Tesla will not acquire Rivian, an EV competitor, citing the difficulty of the car industry. Rivian faces financial challenges despite strong demand and a joint venture with Volkswagen. Musk predicts Rivian may face bankruptcy.

Portfolio Pulse from Chris Katje

October 21, 2024 | 2:52 pm

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Spirit Airlines has extended its debt deadlines and is renegotiating agreements amid financial struggles, including a halted merger with JetBlue. JetBlue's founder suggests a merger with Frontier Group would have been more suitable. Spirit has faced significant losses and operational challenges.

Portfolio Pulse from Nabaparna Bhattacharya

October 19, 2024 | 5:30 pm

VEV

Vicinity Motor Corp. (NASDAQ:VEV) is facing significant financial distress as RBC plans to file a receivership order, PricewaterhouseCoopers resigns as auditor, and the BC Securities Commission is expected to cease trading of its stock by October 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 5:57 pm

MTEM

Molecular Templates shares are experiencing increased volatility following the company's announcement of its decision to liquidate and wind-up operations.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 6:16 pm

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Spirit Airlines is facing potential bankruptcy as it struggles with financial woes, including mounting debt and a failed merger with JetBlue. The airline is expediting the retirement of its Airbus A319 fleet to cut costs. Meanwhile, competitors like United Airlines are thriving, and the U.S. Global Jets ETF is hitting new highs.

Portfolio Pulse from Surbhi Jain

October 17, 2024 | 12:34 pm

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United Airlines CEO expressed confidence that Boeing will not file for Chapter 11 bankruptcy. He acknowledged the impact of strikes on United's schedule but is optimistic about Boeing's long-term focus.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 3:41 pm

MTEM

Molecular Templates Inc (NASDAQ:MTEM) shares plummeted 77% after announcing plans to liquidate and wind up the company due to a lack of viable strategic alternatives. The company does not expect shareholders to receive value upon dissolution.

Portfolio Pulse from Henry Khederian

October 14, 2024 | 4:15 pm

MTEM

Molecular Templates has announced the approval of its liquidation and wind-up, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 12:09 pm

MTEM

Molecular Templates' Board of Directors has approved the liquidation and wind-up of the company. The company plans to wind down Phase 1 studies for MT-6402 and MT-8421 but will continue FDA discussions for MT-0169 for autoimmune indications. A significant reduction in workforce has also been approved.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:44 am