Streetbeat News

Credit

XP Inc. (NASDAQ:XP) has priced a $500 million senior notes offering at 6.750% due 2029. The proceeds will be used to purchase tendered 3.250% senior notes due 2026 and for general corporate purposes. The transaction is expected to close on July 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 7:14 am

ARBK

Argo Blockchain has extended its loan with Galaxy Digital until December 28, 2024, significantly reducing its interest expenses. The remaining loan balance is now $5.7 million, down from $35 million in December 2022. Monthly interest expenses are expected to drop from $440k in July 2023 to $78k in July 2024.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 6:55 am

TIP

Prominent economist Paul Krugman declared that inflation appears to be under control, citing recent data showing a decrease in the personal consumption expenditure index (PCEI) to 2.6%. This could increase the likelihood of rate cuts by the Federal Reserve. The iShares TIPS Bond ETF (NYSE:TIP) ended Friday's session down 0.31%.

Portfolio Pulse from Shanthi Rexaline

June 30, 2024 | 5:06 pm

DESK

HIW

INDS

NLOP

SLG

Goldman Sachs reports that the worst may be over for the commercial real estate (CRE) market, but a full recovery is still distant. While some cities like New York and San Francisco show improvements, high interest rates and structural issues in the office segment pose ongoing challenges. CRE-related ETFs and some stocks have shown mixed performance year-to-date.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 7:30 pm

MET

Analysts have provided mixed ratings for MetLife (NYSE:MET) over the past three months, with a majority being somewhat bullish. The average 12-month price target has increased to $84.0. MetLife's financials show revenue growth but lag behind industry peers in net margin, ROE, and ROA. The company's debt-to-equity ratio is higher than the industry average, indicating higher financial risk.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 5:00 pm

AFRM

AXP

DFS

JMP Securities analyst David Scharf initiated coverage on Affirm Holdings Inc (NASDAQ:AFRM) with a Market Perform rating, citing strong growth and fair valuation amid regulatory risks. Affirm's business model has diversified, but it faces the same risks as other non-prime lenders. Shares are trading at a higher valuation compared to American Express (NYSE:AXP) and Discover Financial Services (NYSE:DFS).

Portfolio Pulse from Anusuya Lahiri

June 28, 2024 | 4:59 pm

LEVI

NKE

WBA

Economists have endorsed a potential September rate cut by the Federal Reserve as the PCE price index drops to its lowest level since March 2021. The futures market predicts a 52 basis point reduction in the fed funds rate by December 2024, with a 68% probability of the first cut in September. Experts criticize the Fed for being late in adjusting rates and highlight the impact on consumer discretionary companies like Nike, Levi Strauss, and Walgreens Boots Alliance.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 3:46 pm

STLD

Steel Dynamics has entered into an underwriting agreement for the offer and sale of $600 million in principal amount of 5.375% notes due 2034, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 3:00 pm

LLY

Eli Lilly and Co (NYSE:LLY) is evaluated against its peers in the Pharmaceuticals industry. The company shows high PE, PB, and PS ratios, indicating potential overvaluation. However, it has strong ROE and revenue growth, suggesting profitability and future prospects. Concerns arise from lower EBITDA and gross profit, and a high debt-to-equity ratio indicates financial risk.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 3:00 pm

SFTBY

TEM

SoftBank Group Corp. (OTC:SFTBY) plans to raise $1.86 billion through bond issuance to repay debt and invest in AI. The funds will be raised via U.S. dollar and euro-denominated bonds. This move aligns with SoftBank's strategic focus on AI, including a planned investment in Perplexity AI and a joint AI-powered medical service with Tempus AI Inc. (NASDAQ:TEM).

Portfolio Pulse from Benzinga Neuro

June 28, 2024 | 2:05 pm