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RILY

B. Riley Financial shares rose by 11.1% after announcing strategic initiatives, including selling a majority stake in Great American Group and securing $236 million in debt financing. These moves aim to generate $410 million in cash to reduce senior secured debt to $125 million by 2024.

Portfolio Pulse from Vaishali Prayag

September 09, 2024 | 6:13 pm

RILY

B. Riley Financial's shares rose following the announcement of selling its majority stake in Great American Group for $380 million and engaging in $236 million debt financing for its brands portfolio.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 3:10 pm

C

SPY

Citi's CFO anticipates a soft landing with falling interest rates, increased M&A activity, and a shift in consumer credit card spending from discretionary to staples. While delinquencies are rising, they are expected to stabilize.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 2:43 pm

NSA

Analysts have provided mixed evaluations for National Storage (NYSE:NSA) over the past three months, with a shift towards more neutral and somewhat bearish ratings. The average 12-month price target has increased to $41.36, reflecting an 11.78% rise from the previous target. Despite the positive price target adjustments, National Storage faces financial challenges, including a decline in revenue, low net margin, and high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

September 09, 2024 | 12:00 pm

VSAT

Viasat, Inc. (NASDAQ:VSAT) plans a private placement of $1.25 billion in Senior Secured Notes due 2029 through its subsidiaries. The proceeds will be used to redeem part of the existing 6.750% Senior Secured Notes due 2026.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 11:52 am

PRGS

Progress has entered into a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, for $875 million. The acquisition will be financed through a combination of cash and an existing revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 10:09 am

KOS

Kosmos Energy Ltd. plans to offer $500 million in senior notes due 2031 to refinance existing debt. The proceeds will be used to fund tender offers for its senior notes due 2026, 2027, and 2028.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 8:25 am

AFL

AFLAC has filed for a debt shelf with the SEC, although the size of the offering has not been disclosed. This move allows AFLAC to issue debt securities in the future, providing flexibility in raising capital.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 8:11 pm

SPY

In a CNBC interview, Fed's Goolsbee stated that inflation is on track to reach 2%, but emphasized the need for stabilization in the labor market and GDP. He warned of danger signs if conditions worsen and noted that current employment averages are too low for the replacement rate, cautioning against passive tightening.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 3:39 pm

SPY

In a CNBC interview, Fed's Goolsbee discussed the potential for a 50 basis points rate cut in September, emphasizing that the path of cuts over the next several months is more crucial than the immediate decision. He remains hopeful for a 'soft landing' in the economy.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 3:37 pm