Streetbeat News

Credit

EC

Ecopetrol is making a $500M partial prepayment on its 2030 loan using funds from a $250M credit with Sumitomo Mitsui Banking Corporation and $250M in cash. This move is part of its strategy to reduce financial expenses and optimize financing.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:29 am

DISH

SATS

EchoStar has launched exchange offers and consent solicitations for DISH Network's convertible senior notes, achieving a key milestone in its balance sheet optimization. Over 90% of DISH's $5 billion convertible notes are now supported by existing stakeholders, satisfying the minimum tender condition.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:09 am

CGBD

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) has announced a $300 million public offering of 6.750% unsecured notes due 2030. The proceeds will be used to repay existing debt and fund new investments. The offering is expected to close on October 18, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 8:16 pm

APLD

In the past three months, 10 analysts have rated Applied Digital (NASDAQ:APLD), with a majority being bullish. The average 12-month price target has increased by 6.38% to $10.0. Analysts have adjusted their ratings and price targets, reflecting positive sentiment. Despite strong revenue growth, the company faces challenges with profitability and debt management.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:01 pm

ILMN

In the past three months, 14 analysts have provided ratings for Illumina (NASDAQ:ILMN), with a mix of bullish and indifferent sentiments. The average 12-month price target is $166.5, slightly down from the previous $166.67. Illumina faces financial challenges, including a revenue decline and high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:00 pm

BMRC

DA Davidson analyst upgraded Bank of Marin Bancorp (NASDAQ:BMRC) to Buy, raising the price target to $24 due to potential Fed rate cuts improving earnings outlook. The analyst increased the 2025 EPS estimate by 10% and expects NIM to surpass 3.00% by 2025.

Portfolio Pulse from Lekha Gupta

October 10, 2024 | 5:56 pm

BANC

Banc of California (NYSE:BANC) has been evaluated by 11 analysts over the past three months, with most ratings being indifferent. The average 12-month price target has increased by 6.56% to $15.27. Analysts have adjusted their ratings and price targets, reflecting a generally positive outlook. Despite strong revenue growth and net margin, the company faces challenges with ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 5:00 pm

SPY

Atlanta Fed President Bostic is open to either holding rates steady or cutting by 25 basis points at the November meeting, depending on economic data. He supports gradually lowering rates toward a 3%-3.5% neutral range over the next year.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 4:51 pm

SPY

Atlanta Fed President Raphael Bostic is open to either cutting interest rates by a quarter percentage point or maintaining them at the upcoming Federal Reserve meeting, depending on economic data. Bostic supports a patient approach, considering recent economic indicators like the consumer-price index and employment data.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 4:51 pm

MNSB

MainStreet Bancshares, Inc. (NASDAQ:MNSB) has issued guidance for a Q3 2024 loss of $0.04 per share. The company charged off $1.9 million to offload $21.8 million in nonperforming loans, reversed $983,000 in accrued interest, and paid $593,519 in liquidation expenses.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:28 pm