Streetbeat News

Credit

SPY

The USA 7-Year Notes drew a yield of 4.650%, slightly higher than the pre-sale when-issued yield of 4.637% and lower than the prior yield of 4.716%.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 5:04 pm

SPY

The USA 7-Year Note Auction yielded 4.637%, down from the previous 4.716%.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 5:00 pm

NVDA

TGT

TLNE

This week's investment insights cover Talen Energy's restructuring and sale of its datacenter business to Amazon, Nvidia's impressive earnings and stock split announcement, Target's weak sales amidst inflation, the authenticity of companies' ESG commitments, and worsening commercial real estate issues.

Portfolio Pulse from Gary Brode

May 29, 2024 | 2:57 pm

LNGZ

TELL

XOP

Tellurian Inc. (NYSE:TELL) has announced a deal to sell its integrated upstream assets to Aethon Energy Management for $260 million. The proceeds will be used to reduce debt and for general corporate purposes. The transaction is expected to close in Q2 2024. Additionally, a Heads of Agreement has been signed for Aethon to purchase 2 million tons per annum of LNG from Tellurian's Driftwood LNG plant. This move is part of Tellurian's strategic plan to strengthen its balance sheet.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 2:35 pm

KBE

KRE

XLF

The FDIC's Quarterly Banking Profile for Q1 2024 reports a significant rebound in the banking industry's net income to $64.2 billion, a 79.5% increase from the prior quarter. This was driven by lower FDIC special assessment expenses and goodwill writedowns. However, the net interest margin declined due to increased competition for deposits and lower asset yields. Unrealized losses on securities increased, and total loans declined by $35 billion. Community banks showed better performance in loan growth and net income. The number of problem banks increased, and the Deposit Insurance Fund balance rose to $125.3 billion.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 2:07 pm

JPM

SPY

JP Morgan CEO Jamie Dimon discusses the importance of the board's decisions, the overstated significance of CEO-Chairman split, and the lack of a magic formula for succession. He also highlights the importance of market share for profitability, the higher chance of stagflation, and the current strength of credit.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 1:48 pm

VEXTF

Vext Science, Inc. reported a year-over-year decline in Q1 2024 revenue and net income, but announced a $2 million standby credit facility to support its expansion in Ohio's upcoming recreational marijuana market. Despite the decline, Vext's shares rose 5.08% after the market close.

Portfolio Pulse from Jelena Martinovic

May 29, 2024 | 1:34 pm

ALRM

Alarm.com has increased the size of its offering of 2.25% convertible senior notes due 2029 from $375 million to $425 million, with an option for initial purchasers to buy additional notes, potentially raising the total to $500 million.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 5:10 am

BIRK

Birkenstock subsidiaries have signed a new term loan and revolving credit facilities agreement, providing aggregate loans and commitments of EUR850 million.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 8:25 pm

MCHP

Microchip Technology has announced a $1.1 billion private offering of convertible senior notes due 2030, with an option for an additional $150 million.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 8:01 pm