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DIS

Comcast has amended its agreements with The Walt Disney Company and its subsidiaries regarding its ownership interest in Hulu and the related put and call provisions. The put/call provisions may now be exercised in November 2023. Comcast borrowed $5.2 billion under a term loan facility in 2019, which is fully collateralized by the minimum guaranteed proceeds of the put/call option related to its investment in Hulu.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 7:13 pm

SPY

White House's Lael Brainard stated that consumers and businesses are considering the cost of credit, which is creating a headwind for the economy.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:46 pm

SPY

US Treasury Secretary Janet Yellen stated that it is possible for longer-term yields to decrease, but there is no certainty. She emphasized the importance of fiscal sustainability and mentioned that President Biden is committed to presenting a sustainable fiscal plan.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:42 pm

SPY

Janet Yellen, the U.S. Treasury Secretary, has stated that the recent surge in bond yields is occurring in most advanced countries and is not an indicator of a recession. She also mentioned that part of the increase in yields is a reflection of expectations that interest rates will be higher for longer.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:41 pm

AXP

DFS

GSX

MA

V

Shield Compliance, a cannabis banking platform, has released an open letter urging leading card brands, including Mastercard, Visa, Discover, and American Express, to reverse their policies prohibiting financial institutions from offering payment services to licensed cannabis merchants. This comes after several finance giants, including Bank of America and Mastercard, revealed they are lobbying for cannabis banking reform. The lack of access to debit and credit card payments is a significant obstacle for the cannabis industry.

Portfolio Pulse from Nina Zdinjak

October 26, 2023 | 2:22 pm

RICK

RCI Hospitality Holdings, Inc. (NASDAQ:RICK) has modified $15.7 million in debt due October 2024, extending maturities of the notes to free up more cash to buy back shares. The amended promissory notes will continue to be unsecured at 12% interest, with $9.1 million due October 1, 2026, and $6.6 million due November 1, 2027.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:03 pm

VGK

The European Central Bank (ECB) has decided to leave the deposit rate unchanged at 4.0%.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:26 pm

SPY

U.S. Treasury Secretary Yellen announced that $8.5 billion in Covid-era investments in Community Development Financial Institutions and minority-owned banking firms will increase lending to Black and Latino communities by nearly $140 billion over a decade.

Portfolio Pulse from Charles Gross

October 25, 2023 | 6:37 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has reduced its outstanding principal of its senior secured credit facility from $22.1 million to $14 million. The reduction is expected to result in annual cash interest savings of approximately $500,000. After the debt reduction, the company announced a public offering with $5.25 million in gross proceeds.

Portfolio Pulse from Jelena Martinovic

October 25, 2023 | 5:21 pm

MA

V

The U.S. Federal Reserve is expected to propose a review of the fees banks can charge retailers for debit card transactions. This could lead to a legal battle between the two industries. The fees, which have been criticized by retailers as disproportionately high, generated around $24.31 billion for lenders in 2019. The Retail Industry Leaders Association expects the Fed to propose lowering the caps. This news sent shares in credit card companies Visa and Mastercard lower.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:43 pm