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BNED

Barnes & Noble Education Inc (BNED) shares dropped by 29.6% to $0.09 after announcing equity and refinancing transactions, new leadership changes, and a 1-for-100 reverse stock split. The company raised over $100 million in new equity, converted $34 million in debt to shares, and extended a $325 million loan facility. The reverse split aims to meet NYSE's minimum bid price requirement.

Portfolio Pulse from Henry Khederian

June 11, 2024 | 3:55 pm

BTCUSD

JPM

Three Democratic senators have urged the Federal Reserve to cut the federal funds rate from its current high of 5.5% to prevent further economic slowdown and address inflation more effectively. This call comes as financial markets adjust their expectations for an interest rate cut, impacting Bitcoin's rally. The senators argue that high interest rates are increasing costs in housing, construction, and auto insurance, potentially pushing the economy into a recession. JPMorgan analysts also note rising rent costs due to higher interest rates.

Portfolio Pulse from Murtuza Merchant

June 11, 2024 | 3:33 pm

NLOP

Net Lease Office Properties (NLOP) has sold two office properties for $61 million. The net proceeds were used to repay $48 million on J.P. Morgan's senior secured mortgage and $8 million on its mezzanine loan, reducing the outstanding balances to $151 million and $92 million, respectively, as of June 10, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 11:36 am

TTWO

Take-Two Interactive Software plans a public offering of $600 million in senior notes, consisting of $300 million of 5.400% Senior Notes due 2029 and $300 million of 5.600% Senior Notes due 2034. The proceeds will be used for general corporate purposes, including repaying $600 million of 3.550% Senior Notes due 2025.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 9:46 pm

NVDA

SPY

Economist Harry Dent warns of an impending 'crash of a lifetime,' predicting the S&P 500 to plummet by 86% and the Nasdaq by 92%. He highlights the prolonged 14-year bubble, driven by artificial economic stimulus, and forecasts significant declines for top-performing companies like Nvidia. Dent also predicts a severe drop in real estate prices, advising investors to seek refuge in safe bonds.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 7:07 pm

SPY

The New York Federal Reserve reports that the odds of a year-ahead stock price rise are the highest since May 2021. Perceptions of the current financial situation improved in May, while expectations of higher unemployment in a year also increased. Perceptions of credit access remained unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 3:02 pm

VIRT

Virtu Financial shares are trading higher following the announcement of a proposed opportunistic private offering of $500 million of senior first lien notes due 2031 for debt repayment.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 2:57 pm

SPY

TLT

The Federal Reserve is expected to maintain the federal funds rate at 5.25%-5.5% in June, with fewer rate cuts anticipated in the future. The market will focus on the Fed's updated economic projections. Recent economic data, including a strong May jobs report, has led to revised expectations for rate cuts. Analysts from Bank of America and Goldman Sachs have adjusted their forecasts, predicting fewer cuts in 2024 and 2025.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 2:43 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) has prepaid its $100 million debt, saving over $55 million in interest and fees, and freeing up $14 million of restricted cash. The company now has a cash balance of $180 million and no outstanding debt, providing strong liquidity and flexibility.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 1:13 pm

EFSH

1847 Holdings CEO Ellery Roberts announced that the company is nearing a deal to acquire a millwork manufacturer for $16.75 million. The company is also engaged in active sale discussions and is focused on restructuring and debt repayment to improve its capital structure.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:09 pm