Streetbeat News

Credit

SPY

Fed's Waller initially supported a 25 basis point rate cut but shifted to 50 basis points after recent inflation data. He estimates August PCE to be low, with core PCE running below target on a 4-month average annualized basis.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:34 pm

SPY

Federal Reserve's Waller supports a 50 basis points rate cut, stating it's the right move to maintain the strong economy.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:33 pm

MTDR

Matador Resources plans to offer $750 million in senior unsecured notes due 2033 in a private placement. The proceeds will be used to repay borrowings under its credit facility.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2024 | 11:39 am

NVA

Nova Minerals has executed a variation agreement with Nebari Gold Fund 1 to reduce the cash covenant under a loan agreement, freeing up funds for feasibility studies and discussions with the US Dept. of Defense.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2024 | 10:34 am

TRIN

Trinity Capital has expanded its credit facility to $510 million, with a $70 million increase from new lenders. This expansion could enhance Trinity Capital's financial flexibility and growth potential.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 6:00 am

SPG

Simon Property Group has amended, restated, and extended its $3.5 billion revolving credit facility, which could impact its financial flexibility and liquidity.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:13 pm

HPE

Hewlett Packard Enterprise (HPE) stock rose by 3.09% following a 50-basis-point interest rate cut by the Federal Reserve. This cut is expected to lower borrowing costs for HPE, which relies on debt for operations and capital expenditures. The rate cut also benefits HPE's customers, who finance large IT projects, potentially boosting HPE's revenue.

Portfolio Pulse from Henry Khederian

September 19, 2024 | 6:42 pm

AAP

ADNT

AZO

CVNA

DAN

F

GM

GT

KMX

MOD

ORLY

TSLA

VC

Auto-related stocks are experiencing a rise in share prices following the Federal Reserve's decision to cut interest rates by 50 basis points. This move is expected to stimulate consumer spending and improve credit affordability, benefiting the auto industry.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 5:28 pm

BAND

DOCN

FIVN

FSLY

RNG

The Federal Reserve's 0.5% rate cut is expected to benefit small- to medium-sized cloud computing firms by easing debt refinancing. Analyst James Fisher highlights Bandwidth, DigitalOcean, Fastly, RingCentral, and Five9 as key beneficiaries due to their significant debt loads. These companies saw stock price gains following the announcement.

Portfolio Pulse from Michael Juliano

September 19, 2024 | 4:16 pm

UPST

Upstart Holdings, Inc. (NASDAQ:UPST) shares are trading higher following a 50 basis point interest rate cut by the Federal Reserve. This cut could benefit Upstart's loan segments by attracting more borrowers. Additionally, Upstart announced an upsized private offering of $375 million in convertible senior notes. Despite the current rally, analysts have mixed ratings on UPST, with an average price target suggesting potential downside.

Portfolio Pulse from Erica Kollmann

September 19, 2024 | 3:53 pm