Streetbeat News

Bankruptcy

FTTUSD

Cryptocurrency exchange FTX's closing down process has accumulated over $200 million in professional fees, according to a court document. Attorney Katherine Stadler, assigned to monitor the fees, revealed that attorneys and other professionals accumulated nearly 35,000 billable hours as of the end of January.

Portfolio Pulse from Murtuza Merchant

June 21, 2023 | 9:08 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that the contagion feared from earlier bank failures has not materialized. This indicates a more stable financial environment.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 6:04 pm

BBBYQ

OSTK

Bed Bath & Beyond plans to hold a separate auction for its Buy Buy Baby assets, as it moves forward with the auction of its Bed Bath & Beyond chain. Overstock.com has submitted a $21.5 million offer for Bed Bath & Beyond's intellectual property assets.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 5:38 pm

SRGA

Surgalign Holdings shares dropped by around 75% after filing for Chapter 11 bankruptcy. Other stocks experienced significant gains and losses during Tuesday's mid-day session, with Airspan Networks, Evelo Biosciences, and VCI Global among the top gainers.

Portfolio Pulse from Lisa Levin

June 20, 2023 | 5:07 pm

SRGA

XTNT

Surgalign Holdings has filed for bankruptcy and agreed to sell its US hardware and biomaterials assets, as well as equity interests in non-Debtor entities related to its hardware business outside the US, to Xtant Medical Holdings for $5 million. The sale will be conducted through Chapter 11 proceedings, with Xtant designated as the stalking horse bidder.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 3:20 pm

SPY

Fed Chair Jerome Powell is set to testify before Congress after the Federal Reserve paused interest rate hikes. The hearings will address the Fed's recent actions and policy decisions, including the impact of the failures of Silicon Valley Bank and Signature Bank.

Portfolio Pulse from Piero Cingari

June 20, 2023 | 1:42 pm

SRGA

Surgalign Holdings (NASDAQ:SRGA) has entered into an asset purchase agreement to sell its U.S. hardware and biomaterials assets and related non-Debtor entities to Xtant Medical Holdings for $5 million. The sale will be conducted through chapter 11 bankruptcy proceedings.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 12:39 pm

SRGA

Surgalign has filed for Chapter 11 bankruptcy, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 11:46 am

BTCUSD

Robert Kiyosaki, author of 'Rich Dad Poor Dad', warns of more bank failures and highlights the vulnerability of mortgage companies, specifically Loan Depot. He advises caution and skepticism towards statements from President Biden, Fed Chairman Powell, and Secretary of Treasury Yellen.

Portfolio Pulse from Bibhu Pattnaik

June 17, 2023 | 3:37 pm

SPY

Fed's Waller states that changes in credit since the SVB failure are in line with what was happening before due to Fed rate increases, and it's still unclear if recent bank failures had a material effect on credit conditions.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 11:46 am