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Bankruptcy

BLPH

HGEN

INPX

STOK

U.S. stocks traded higher with the Nasdaq Composite gaining more than 100 points. Verizon Communications reported better-than-expected earnings for its second quarter, despite a sales decline of 3.5% YoY. Inpixon shares shot up 87% after the company agreed to merge with XTI Aircraft Company. Humanigen shares dropped 76% as it anticipates bankruptcy. Bellerophon Therapeutics shares were down 39% after the company received a delisting notice. Stoke Therapeutics was down 33% after announcing new safety and efficacy data.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 6:31 pm

ALK

AURC

ELBM

HGEN

INPX

The article lists the stocks that gained and lost the most in Tuesday's mid-day session. Among the gainers, Aurora Acquisition Corp. (AURC) jumped 192% to $30.54, Inpixon (INPX) gained 117% to $0.33 after agreeing to merge with XTI Aircraft Company, and Electra Battery Materials Corporation (ELBM) shot up 71.5% to $2.11 after extending and expanding its battery grade cobalt supply agreement with LG Energy Solution. Among the losers, Humanigen, Inc. (HGEN) fell 75.1% to $0.0476 as it anticipates not being able to continue as a going concern and is exploring all restructuring options, including bankruptcy, and Alaska Air Group, Inc. (ALK) fell 9.3% to $48.38 after reporting Q2 financial results and issuing Q3 and FY23 guidance.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 5:11 pm

AMC

AMC Entertainment Holdings Inc's shares are trading lower due to developments related to the company's proposed settlement with shareholders. The settlement, which included a conversion of APE units into common shares and a reverse stock split, was rejected by Vice Chancellor Morgan T. Zurn. AMC has submitted a revised settlement. CEO Adam Aron warned that the company could face bankruptcy by 2024 or 2025 if the deal doesn't go through.

Portfolio Pulse from Adam Eckert

July 25, 2023 | 2:48 pm

ALEAF

RWBYF

Aleafia Health Inc. has obtained creditor protection to pursue restructuring and sale process. Red White & Bloom Brands Inc. has provided an update on Aleafia's indebtedness in connection with a loan agreement. Aleafia has received an order from the Ontario Superior Court of Justice to restructure its business and financial affairs. RWB agreed to advance debtor-in-possession financing to fund Aleafia's proceedings and other short-term working capital requirements. Aleafia was in breach of certain covenants under the senior secured loan agreement, and the proposed transaction between the parties had been mutually terminated.

Portfolio Pulse from Vuk Zdinjak

July 25, 2023 | 2:25 pm

APPH

BRCC

SMFL

ZIVO

The article lists five oversold stocks in the consumer staples sector that could be potential investment opportunities. These include The Estée Lauder Companies Inc. (EL), Smart for Life, Inc. (SMFL), ZIVO Bioscience, Inc. (ZIVO), BRC Inc. (BRCC), and AppHarvest, Inc. (APPH). The stocks are considered oversold as their Relative Strength Index (RSI) is near or below 30. The companies have experienced various events such as price target downgrades, compliance with Nasdaq listing requirements, direct offerings, better-than-expected sales, and Chapter 11 filings.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 11:29 am

HGEN

Humanigen has announced that it anticipates not being able to continue as a going concern and is exploring all restructuring options, including bankruptcy.

Portfolio Pulse from Charles Gross

July 25, 2023 | 10:08 am

BAC

An analysis by the Wall Street Journal has found that Bank of America and Huntington National Bank were among the banks that made the largest revisions to their uninsured deposits following the collapse of SVB. The FDIC has issued a warning to U.S. banks about deposit accounting.

Portfolio Pulse from Bill Haddad

July 24, 2023 | 7:58 pm

APPH

AppHarvest has announced a Chapter 11 filing to support a financial and operational transition, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 3:06 pm

APPH

AppHarvest, Inc. (NASDAQ:APPH) has filed for Chapter 11 to support a financial and operational transition aimed at reducing its outstanding liabilities. The company has secured a commitment from Equilibrium, its largest secured creditor, to provide approximately $30 million of debtor-in-possession (DIP) financing. AppHarvest is also planning to transition its AppHarvest Berea operations to its distribution partner, Mastronardi Produce, or one of its affiliates, in exchange for approximately $3.75 million in additional funding.

Portfolio Pulse from Erica Kollmann

July 24, 2023 | 3:03 pm

WLMS

Williams Industrial Services Group Inc. (WLMS) has filed for Chapter 11 bankruptcy and agreed to sell most of its assets to EnergySolutions for $60 million. The assets include the company's nuclear, fossil, energy delivery, and paper mill operations. EnergySolutions will not acquire the company's water contracts in Florida and Texas. WLMS has also secured up to $19.5 million in debtor-in-possession financing from its existing lenders.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:48 pm