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SPY

The Mortgage Bankers Association (MBA) has reported a 30-year mortgage rate of 7.9%.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 11:00 am

SLGN

Silgan Holdings Inc. has revised its FY23 adjusted EPS outlook to $3.30 - $3.40, down from the previous estimate of $3.40 - $3.60. This is due to expected higher interest rates, customer destocking in food and beverage markets, and delays in the commercialization of new business. The company's FY22 adjusted net income per diluted share was a record $4.01.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 10:59 am

C

Euroclear has successfully settled its inaugural digital note, a World Bank offering on the Luxembourg Stock Exchange, which amassed 100 million euros ($106 million) dedicated to sustainable development initiatives. This event marks the commencement of Euroclear's digital securities settlement service. Citibank acted as the issuing and payment agency while TD Securities served as the dealer and Euroclear Bank functioned as the central securities depository for the issuer.

Portfolio Pulse from Murtuza Merchant

October 24, 2023 | 8:55 pm

AAPL

Apple's short-term financing solution, Apple Pay Later, is now available to all eligible users in the United States. The service allows customers to split purchases between $75 and $1,000 across a six-week payment plan. The program is financed by Apple Financing LLC, with Mastercard and Goldman Sachs handling the payment credentials.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 8:28 pm

FFNTF

4Front Ventures Corp. (OTCQX:FFNTF) has issued 15.9 million restricted stock units (RSUs) to ALT Debt II, LP, following its recent $10-million senior secured credit facility agreement. Each RSU will convert into one Class A subordinate voting share of the company under specific conditions. The company has also restructured a convertible promissory note with Navy Capital Green Fund, Navy Capital Green Co-Invest Fund LLC, and HI 4Front LLC, deferring payment obligations from 2023 to 2024 and revising the interest rate from 6% to 10%.

Portfolio Pulse from Joana Scopel

October 24, 2023 | 7:34 pm

AXP

Piper Sandler analyst Kevin J. Barker upgraded American Express Co (NYSE:AXP) to Neutral from Underweight with a price target of $151, up from $150. Despite expecting revenue growth to slow and headwinds from weaker credit, Barker projects the company to deliver EPS growth of ~10% over the next two years. He also raised the FY24 revenue estimate to $65,475.8 million from $64,565 million earlier.

Portfolio Pulse from Lekha Gupta

October 24, 2023 | 5:55 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) has successfully amended and extended its term loan agreement with CRG Servicing LLC, providing balance sheet flexibility. The amendment extends the interest-only period and the maturity date by one year to Dec. 31, 2025, and reduces the minimum cash covenant from $5 million to $500,000. Despite this, T2 Biosystems' shares remain down by over 75% over the last month.

Portfolio Pulse from Erica Kollmann

October 24, 2023 | 5:09 pm

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CFG

KBE

KRE

PACW

WAL

XLF

ZION

S&P Global Ratings has reported that credit and funding costs are impacting the Q3 earnings of US regional banks. The report suggests that these factors could lead to a decrease in profitability for these banks.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:26 pm

GFAI

Guardforce AI Co., Limited (NASDAQ:GFAI) has converted $13.4 million of debt and $2.5 million of accrued and unpaid interest into 2,947,150 restricted ordinary shares at $5.40 per share. The conversion price represents a 75% premium to the previous day's closing price. The move is aimed at strengthening the company's balance sheet and reducing overall leverage.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:20 pm

BCS

Barclays Plc is planning to reduce structural costs, which may lead to additional charges in Q4 2023. The bank is targeting a cost: income ratio in the low 60s in 2023, with a medium-term target of below 60%. It also aims for a RoTE of over 10% in 2023, excluding structural costs. Barclays UK's Net Interest Margin is expected to be between 3.05% - 3.10% in 2023. The bank plans to continue operating within the CET1 ratio target range of 13-14% and its capital distribution policy includes a progressive ordinary dividend and share buybacks as appropriate.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 8:13 am