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DFS

Discover Financial Services (NYSE:DFS) reported better-than-expected Q3 earnings and revenue, with earnings per share at $3.69 and revenue at $4.453 billion. Despite higher delinquency rates, the company saw increased net interest income and margin, modest loan growth, and progress in risk management.

Portfolio Pulse from Erica Kollmann

October 16, 2024 | 8:49 pm

DFS

Discover Financial Services reported an increase in its Q3 delinquency rates for loans 90 or more days overdue, rising to 1.87% from 1.57% year-over-year. This indicates potential challenges in loan repayments.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:31 pm

DFS

Discover Financial Services reported an increase in Q3 delinquency rates for loans 30 or more days past due, rising to 3.84% from 3.41% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:30 pm

SLQT

SelectQuote has completed the first phase of its recapitalization by securing a $100 million securitization. This move aims to pay down term debt, lower the cost of capital, and extend the maturity of remaining debt to 2027, with a potential extension to 2028. The company is also exploring strategic options for future growth.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:17 pm

BA

Boeing shares are trading higher as the company plans to raise $15 billion through common stock and convertible bonds. The move aims to protect its credit rating amid high debt and ongoing cash burn. The timing of the raise may depend on resolving a labor strike and upcoming earnings.

Portfolio Pulse from Vaishali Prayag

October 16, 2024 | 8:02 pm

BA

Boeing is planning to raise $15 billion through common shares and a mandatory convertible bond due to financial strain from an ongoing strike. The company is also considering a $25 billion stock and debt sale and has secured a $10 billion credit agreement with major lenders.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 4:47 pm

ASPN

Aspen Aerogels plans to fund its second aerogel plant with a proposed loan of up to $670.6 million. The plant is expected to generate $1.2B-$1.6B in revenue, significantly boosting the company's PyroThin® thermal barrier capacity.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 12:32 pm

ASPN

Aspen Aerogels has received a conditional commitment for a proposed loan of up to $670.6 million from the Department of Energy (DOE). This loan is intended to support the company's initiatives, potentially impacting its financial position and stock performance.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 12:31 pm

USB

U.S. Bancorp reported Q3 earnings with an EPS beat but a revenue miss. The company saw rising credit loss provisions and a decrease in net interest income. Despite these challenges, USB shares are trading higher.

Portfolio Pulse from Nabaparna Bhattacharya

October 16, 2024 | 12:18 pm

ZCAR

Zoomcar has achieved a significant milestone in its debt restructuring process, aiming to reduce its debt obligations by approximately $31 million from its total outstanding debt as of June 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:02 am