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SM

SM Energy has announced an upsized offering of $750 million of its 6.750% Senior Notes due 2029 and $750 million of its 7.000% Senior Notes due 2032. The proceeds will be used to fund a pending acquisition in the Uinta Basin, redeem existing notes, and cover related expenses.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 9:15 pm

FYBR

Four analysts have provided ratings for Frontier Communications (NASDAQ:FYBR), with all ratings being bullish. The average 12-month price target is $33.25, down from $35.50 previously. Analysts from UBS, Goldman Sachs, Citigroup, and TD Cowen have given buy ratings with varying price targets. Despite positive revenue growth, the company faces challenges in profitability, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

July 18, 2024 | 9:01 pm

KBE

KRE

SPY

XLF

The Federal Reserve's Logan stated that progress is being made in preparing banks to use the discount window, and that emergency lending programs have been effective. All eligible banks should be ready to utilize the discount window.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 5:45 pm

AAWH

Ascend Wellness Holdings, Inc. (OTCQX:AAWH) has closed a $235 million private placement of senior secured notes due 2029, with the proceeds used to refinance $215 million of its existing term loan. This move is expected to enhance the company's financial flexibility and strengthen its balance sheet.

Portfolio Pulse from Jelena Martinovic

July 18, 2024 | 1:54 pm

BYND

Beyond Meat Inc (NASDAQ:BYND) shares are trading lower following a report indicating the company's liquidity position has weakened. The company has reached out to bondholders to discuss potential restructuring of its balance sheet. Beyond Meat has been burning through cash and is expected to report a loss in its upcoming earnings report.

Portfolio Pulse from Adam Eckert

July 18, 2024 | 1:09 pm

AGEN

BYND

NKGN

Market-Moving News for July 18th includes significant updates for NKGen Biotech, Agenus, and Beyond Meat. NKGen Biotech will present new biomarker data on SNK01 in Alzheimer's Disease at an upcoming conference. Agenus shares dropped after the FDA discouraged an accelerated approval pathway. Beyond Meat shares fell due to concerns over weakened liquidity and debt discussions.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 12:28 pm

BYND

Beyond Meat shares are trading lower due to a report indicating weakened liquidity and ongoing debt discussions with bondholders.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:18 am

NBR

Nabors Industries has priced $550 million in senior guaranteed notes due 2031 at an annual interest rate of 8.875%. The proceeds will be used to redeem its 7.25% senior guaranteed notes due 2026 and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 4:54 am

BYND

Beyond Meat Inc (NASDAQ:BYND) shares dropped 16.32% in after-hours trading following a Wall Street Journal report indicating the company's weakened liquidity position and potential balance sheet restructuring. The company has been in a downtrend since 2021, burning through cash with $173.5 million in cash and cash equivalents as of March 30. Analysts expect a loss of 51 cents per share on revenue of $87.808 million in the upcoming earnings report.

Portfolio Pulse from Adam Eckert

July 17, 2024 | 9:07 pm

BLK

BlackRock has priced a $2.5 billion debt offering consisting of three tranches of senior unsecured notes. The proceeds will be used to fund a portion of the cash consideration for its proposed acquisition of Preqin Holding Limited.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 8:36 pm