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IYG

MA

V

XLF

Mastercard Inc (NYSE:MA) plans to increase its network assessment fee from 0.13% to 0.14%, effective April 15, adding an estimated $259.1 million in costs for retailers based on last year's transactions. This decision follows a $30 billion settlement with Visa Inc (NYSE:V) over swipe fees, intended to provide financial relief to retailers. Despite the settlement aimed at capping swipe fees to save retailers around $30 billion, many merchants plan to continue legal action against Visa and Mastercard for alleged collusion on credit card fees. Mastercard's stock has seen over a 31% increase in the last 12 months, and exposure to Mastercard can also be gained through IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Portfolio Pulse from Anusuya Lahiri

April 04, 2024 | 12:57 pm

SPY

TIP

Despite Federal Reserve Chair Jerome Powell's hawkish stance on interest rates, bullish analyst Tom Lee predicts over three rate cuts in 2024, citing recent inflation spikes as statistical aberrations. Lee points to the significant drop in March consumer price inflation in Europe and anticipates the U.S. March inflation report to further support his prediction. Contrasting views from Steve Cohen and David Einhorn highlight the uncertainty around the Fed's rate path. The SPDR S&P 500 ETF Trust and the iShares TIPS Bond ETF are mentioned in the context of market reactions to interest rate expectations.

Portfolio Pulse from Shanthi Rexaline

April 04, 2024 | 8:28 am

NEXA

Nexa Resources announced the pricing of a $600 million offering of 6.750% senior unsecured notes due 2034. The proceeds are intended to fund a cash tender offer for existing notes due 2027 and 2028, with any remainder allocated for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 7:19 am

UMH

UMH Properties has expanded its existing unsecured revolving credit agreement from $180 million to $260 million in available borrowings. This move increases the company's financial flexibility and capacity for future investments or operations.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:17 pm

SPWH

Sportsman's Warehouse (SPWH) projects FY24 revenue to be between $1.15B-$1.23B, below the estimated $1.29B. The company aims for adjusted EBITDA of $45M-$65M and plans $20M-$25M in capital expenditures, mainly on technology for merchandising and store productivity. No new stores are expected to open. SPWH reduced its line of credit by $59.4M in Q4, focusing on inventory and cost management to lower bank borrowings and interest expenses.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:07 pm

GEO

The GEO Group (NYSE:GEO) announced a proposal to issue $1.2 billion in senior notes to refinance approximately $1.5 billion of existing indebtedness. The offering includes $700 million of senior secured notes due 2029 and $500 million of senior unsecured notes due 2031. The proceeds, along with a new $400 million Term Loan B and cash on hand, will be used for refinancing existing debts, including various senior notes and term loans, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:02 am

MNKD

MannKind Corporation has fully repaid its outstanding debts under its credit and security agreement with MidCap Financial Trust and its convertible promissory note to Mann Group LLC, reducing its total debt by approximately $41.8 million since December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:06 am

RDNT

RadNet announced its intention to refinance its existing $679 million term loan and undrawn $195 million revolving credit facility with a new $840 million term loan and $250 million revolving credit facility. The refinancing aims to repay the existing loan, cover transaction fees, and add approximately $148 million in cash to its balance sheet for growth and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:04 am

FXI

China's Central Bank Monetary Policy Committee has committed to correcting pro-cyclical behavior and preventing the risk of exchange rate overshooting, according to Reuters.

Portfolio Pulse from Charles Gross

April 03, 2024 | 9:12 am

APH

Amphenol has announced the pricing of its senior notes offering, totaling $1.5 billion across three maturities: 2027, 2029, and 2034, with interest rates of 5.050% for the first two and 5.250% for the 2034 notes.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 9:31 pm