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Former U.S. Treasury Secretary Lawrence Summers criticized the Federal Reserve's plans to cut interest rates amidst a strong economy and high inflation. He questioned the Fed's eagerness, citing the economy's performance and the need for a higher neutral interest rate than the Fed's forecast. Financial conditions have loosened, as indicated by the Chicago Fed National Financial Conditions Index, while inflation expectations remain above the Fed's target, as shown by the 5-year breakeven rate.

Portfolio Pulse from Piero Cingari

March 21, 2024 | 8:18 pm

SOFI

SoFi Technologies Inc's CEO Anthony Noto discussed on CNBC's 'Mad Money' the company's strategies for financial growth, including achieving GAAP profitability by 2024, expanding its tech platform, cautiously managing its personal loan business, refinancing debt to save $40-$60 million annually, and conducting a convertible note sale to improve financial position and stock momentum.

Portfolio Pulse from Surbhi Jain

March 21, 2024 | 4:11 pm

ICD

Independence Contract Drilling, Inc. (ICD) has engaged Piper Sandler & Co. as a financial advisor to assist its Strategic Alternatives Committee in evaluating refinancing options for its convertible notes and other strategic opportunities. The outcome of this process is uncertain, and ICD will only disclose developments if deemed appropriate or necessary.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:06 pm

EC

Ecopetrol has received approval for a debt management transaction valued at $1.2 billion. This strategic financial move is aimed at optimizing the company's debt profile.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 6:39 am

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

SPY

Fed Chair Powell highlighted that GDP growth has been supported by robust consumer demand and improving supply chains. However, he also noted that elevated interest rates have negatively impacted business fixed income investment.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:35 pm

SPY

The Federal Reserve has updated its projections, indicating a higher longer-term policy rate of 2.6%, up from 2.5% in December. The Fed acknowledges that inflation has cooled over the past year but remains 'elevated'.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:03 pm

CNHI

CNH Industrial's subsidiary has successfully priced $600 million in aggregate principal amount of 5.100% notes due in 2029. This financial move could indicate the company's strategy for managing its capital structure and future investments.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:34 pm

MRK

Merck & Co Inc has filed for a debt shelf with the SEC, although the size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:02 pm

AZN

AstraZeneca has filed for a debt shelf with the SEC, although the size of the offering has not been disclosed. This move allows the company to issue debt securities in the future as needed.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:00 pm