Streetbeat News

Credit

RCL

A Royal Caribbean executive announced during a conference call that the company expects to further reduce its leverage to just below mid-3X by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:52 pm

BA

SPR

S&P forecasts Boeing's cash flow to be modest in 2024, improving in 2025. The timing for announcing new CEO and Chair candidates is uncertain, expected this year. Boeing is anticipated not to generate enough free cash flow in 2024 to cover approximately $5B of debt maturities.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:27 pm

BA

SPR

S&P has revised Boeing's outlook to negative, citing discussions to acquire Spirit AeroSystems which could increase its debt levels. The revision reflects concerns over potential delays in Boeing's cash flow recovery and credit ratios, indicating an increased risk to restoring credit measures consistent with S&P's rating in the coming years.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:25 pm

CART

DAL

HSY

JEF

Insiders at Delta Air Lines, Jefferies Financial Group, The Hershey Company, and Maplebear have recently sold shares. Delta Air Lines reported better-than-expected Q1 earnings, Jefferies Financial Group announced the pricing of $1.50 billion senior notes, Hershey's price target was lowered by Wells Fargo, and Maplebear was reiterated with a Hold by Needham.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 12:25 pm

DB

Deutsche Bank announced its Q1 financial metrics, including a Common Equity Tier 1 Capital Ratio of 13.4%, a stable leverage ratio of 4.5%, and a 10% decrease in provision for credit losses to €439 million from the previous quarter's €488 million. The bank also reaffirmed its full-year credit loss guidance at the higher end of the 25-30 basis points range.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:48 am

MTN

Vail Resorts has announced the pricing of $600 million in aggregate principal amount of 6.500% senior notes due 2032, priced at par. This financial move could impact the company's leverage and interest expenses, influencing its financial health and potentially its stock price.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:36 pm

GLDD

Great Lakes Dredge & Dock Corporation (GLDD) has entered into a $150M senior secured second-lien credit agreement with Guggenheim Credit Funding, LLC. The company borrowed $100M initially with an option to draw an additional $50M. The funds will be used to repay existing debts and for future newbuild payments, working capital, and other corporate purposes. The agreement includes customary covenants and the obligations are secured by the company's assets.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:48 pm

BA

Moody's predicts Boeing will issue new debt to cover free cash flow shortfalls, citing weak performance in commercial airplanes as a constraint on cash flow for 2024 and 2025. The outlook includes significant execution risk in Boeing's plan to improve commercial aircraft assembly operations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 6:03 pm

EWC

The Bank of Canada's minutes revealed a division among members regarding the risk of maintaining a more restrictive monetary policy than necessary amid declining inflation. Some members worried about the potential for excessive restriction slowing the economy more than needed to bring inflation back to target, while others viewed the risk as lower.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:32 pm

TLT

Treasury yields have reached a 5-month high, impacting the U.S. mortgage market by driving mortgage rates higher. The iShares 20+ Year Treasury Bond ETF (TLT) has seen a nearly 10% decline year-to-date due to rising yields. The increase in yields is attributed to concerns over the growing federal deficit, with experts warning about the potential negative effects on the economy and investor sentiment. Technical analysis suggests a continued uptrend in yields, with potential resistance levels ahead.

Portfolio Pulse from Piero Cingari

April 24, 2024 | 4:22 pm