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SPY

The White House projects an increase in receipts from 16.5% of GDP in FY23 to 18.7% in FY25, reaching 20.3% by FY34. Public debt is expected to rise from 97.3% of GDP in FY23 to 102.2% in FY25, and further to 105.6% by FY34. Real interest rates are forecasted at 1.2% in FY25, with an average of 1.3% over the FY 2025-2034 period. U.S. real GDP growth is estimated at 1.8% in 2025, 2.0% in 2028, and 2.2% in 2034, based on November forecasts.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:18 pm

ENPH

Enphase Energy (NASDAQ:ENPH) has received diverse analyst ratings over the last three months, with a total of 12 analysts offering perspectives ranging from bullish to bearish. The average 12-month price target for ENPH has been raised to $129.33, indicating a 15.25% increase from the previous target of $112.22. Analyst actions include adjustments to ratings and price targets, reflecting changing market conditions and company performance. Despite facing challenges such as a significant revenue decline of -58.25% and below-average ROE and ROA, ENPH maintains a strong net margin of 6.91%. The company's debt-to-equity ratio of 1.32 suggests high debt levels.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 1:00 pm

FXI

SPY

China has requested banks to increase financing support for the state-backed real estate giant, China Vanke, and urged creditors to consider extending the maturity of private debt, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:20 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) has announced a series of financial transactions aimed at reducing its net debt and raising new capital. The company has exchanged convertible notes for new capital and senior secured notes, bringing in $2.8 million. Additionally, Biora has monetized its investment in Enumera Molecular, Inc., resulting in $3 million of nondilutive funding. These transactions are part of Biora's efforts to optimize its capital structure and fund its therapeutic programs. The company has reduced its debt by over $80 million since September 2023 through note exchange transactions, with institutional investors contributing $19.8 million of new capital.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:02 pm

KRE

TFC

USB

Federal Reserve Chairman Jerome Powell warned of more bank failures, particularly among regional banks with significant exposure to commercial real estate loans. Powell highlighted the issue is more pronounced in smaller and medium-sized banks, with some holding CRE loans worth nearly 35% of their total assets. The shift to remote work during the COVID-19 pandemic has left 19% of U.S. offices empty, exacerbating the problem. Truist Financial Corp. (TFC), U.S. Bancorp (USB), and New York Community Bancorp are among the banks with the largest exposures. Despite the concerns, the SPDR S&P Regional Banking ETF (KRE) and shares of TFC and USB have remained relatively stable, while NYCB's shares have dropped significantly.

Portfolio Pulse from Neil Dennis

March 08, 2024 | 6:04 pm

EVEX

Eve reported a net loss of $39.3 million in Q4 2023, nearly doubling from a $20.1 million loss year-over-year. The company's liquidity, including undrawn portions of the BNDES credit lines, stands at $316.3 million.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 11:09 am

VICI

VICI Properties Inc. announced a public offering of $1.05 billion in senior unsecured notes, split into $550 million at 5.750% due 2034 and $500 million at 6.125% due 2054. The proceeds will repay existing senior notes due 2024. The offering closes on March 18, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:50 pm

SPY

Fed Chair Powell emphasized the distance from fiscal policy overwhelming monetary policy, stressing the need for discussions on fiscal sustainability. He expressed hope for a return to such discussions and mentioned exploring liquidity innovations post-SVB, though finalizations are not yet close.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:44 pm

KR

Kroger's CEO announced expectations of over 20% growth in its retail media business for 2024. The personal finance segment showed mixed results in 2023, with an increase in bad debt in the credit card business. Efforts are underway to convert non-pharmacy customers through enhanced marketing and in-store engagement.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:22 pm

PHAT

Phathom Pharmaceuticals reported as of December 31, 2023, it had $381.4M in cash and cash equivalents, with an additional $160M available under its term loan with Hercules. This funding is expected to provide the company with a cash runway through the end of 2026.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:06 pm