Streetbeat News

Bankruptcy

AMC

TUP

Tupperware Brands Corp (TUP) shares have rallied over 430% in July and 26% in August due to increased retail interest and high short interest. The stock's surge was influenced by the retail-driven short squeeze that started after AMC Entertainment's shares surged. However, Jim Cramer of CNBC has warned that Tupperware may have to file for bankruptcy. The company is expected to report its Q2 earnings in about two weeks.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 11:19 am

YELL

Yellow Corp. (NASDAQ:YELL), a trucking company that received a $700 million loan from the U.S. government in 2020, has ceased operations and is expected to declare bankruptcy. The loan, which gave the Treasury Department a 30% equity stake in the company, is now at risk. The handling of the loan by the Trump administration has been scrutinized in at least three government investigations.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 10:35 am

ADMP

AMSC

CAT

POL

TGTX

YELL

The Dow Jones gained over 50 points, while NASDAQ and S&P 500 fell. Caterpillar Inc reported better-than-expected Q2 results with a 21.6% YoY revenue increase to $17.32 billion, beating the consensus of $16.50 billion. Yellow Corporation shares shot up 117% on news of bankruptcy preparations. American Superconductor Corporation shares rose 63% amid claims of a new superconductor. Adamis Pharmaceuticals shares gained 174% after being listed on the Regulation SHO 'threshold security' list. Polished.com shares dropped 68% after announcing restated and delayed financial statements. TG Therapeutics shares were down 47% after reporting Q2 FY23 Briumvi net sales of $16 million in the U.S. ZoomInfo Technologies shares fell 26% after issuing weak guidance.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:12 am

AMC

TUP

Jim Cramer warns that the recent surge in meme stocks, including Tupperware Brands Corp (TUP), is a bad omen for the broader market. Tupperware shares soared over 430% last month due to a retail-driven short squeeze. Cramer believes Tupperware is headed for bankruptcy despite its recent popularity among retail traders.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 9:58 am

APO

YELL

Apollo Global Management (APO) is leading a deal to provide trucking company Yellow Corp (YELL) with a bankruptcy loan, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:52 am

YELL

Yellow Corp (NASDAQ:YELL) shares are trading higher by 55.6% despite the company reportedly ceasing operations and preparing for bankruptcy. The company is also in talks to sell off parts of the business. Yellow has faced financial challenges due to a decrease in shipping demand, resulting in lower volumes and declining rates. Its cash reserves dropped from $235 million in December to approximately $100 million in June.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 9:24 am

AGRI

AMSC

CYBN

POL

TTI

YELL

Several stocks experienced significant pre-market trading movements. Notable gainers include American Superconductor Corporation (AMSC), AgriFORCE Growing Systems Ltd. (AGRI), and TETRA Technologies, Inc. (TTI), which surged due to upcoming earnings reports and better-than-expected results. On the other hand, Polished.com Inc. (POL), Cybin Inc. (CYBN), and Yellow Corporation (YELL) fell due to restated financial statements, public offering of units, and bankruptcy preparations respectively.

Portfolio Pulse from Lisa Levin

August 01, 2023 | 12:57 pm

MNK

Mallinckrodt shares are experiencing increased volatility following reports last week that the company is considering bankruptcy as a strategy to avoid opioid payments.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 6:16 pm

YELL

Yellow Corporation (NASDAQ:YELL) shares surged 84.6% on heavy trading volume after the company ceased operations. The company is expected to file for bankruptcy in the coming days. More than 96 million shares have been traded, far exceeding the stock's 100-day average of 2.6 million shares. The stock has also attracted the attention of short sellers with 18.2% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

July 31, 2023 | 5:12 pm

YELL

Yellow Corporation is reportedly preparing for bankruptcy and has ceased operations, according to Teamsters. This news has led to a rise in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 4:34 pm