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HPQ

HP has filed an amendment to its annual report on Form 10-K for the fiscal year ended October 31, 2022. The company identified material weaknesses in its internal control over financial reporting and concluded that these weaknesses were present as of October 31, 2022.

Portfolio Pulse from Charles Gross

September 11, 2023 | 9:16 pm

ALGOUSD

CELUSD

Bankrupt cryptocurrency lending company, Celsius, is likely to appoint former Algorand CEO Steve Kokinos to its successor company. The new company, currently named 'NewCo', will be registered under a Delaware corporation. Its board of directors includes executives from WeWork, Credit Suisse and UBS. Celsius filed for bankruptcy protection as it owed billions to investors during the crypto downturn. Celsius creditors are in favor of Fahrenheit’s proposed takeover, which could allow investors to recover some of their lost funds.

Portfolio Pulse from Khyathi Dalal

September 11, 2023 | 8:28 pm

BAC

SPY

Bank of America's CFO has stated that loan growth is slowing down, particularly on the commercial side.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 7:15 pm

Sam Dogen, known as the Financial Samurai, retired at 34 after a successful career at Goldman Sachs and Credit Suisse. His financial strategy, rooted in disciplined savings and investment, has resulted in a portfolio worth around $4.4 million. Dogen advocates for a deep understanding of market dynamics and individual risk thresholds, and a conservative withdrawal strategy for retirement.

Portfolio Pulse from Bibhu Pattnaik

September 11, 2023 | 6:23 pm

MUFG

SMFG

Shares of Japanese banks, including MUFG and SMFG, are trading higher following comments from the Bank of Japan suggesting a possible end to negative rates. The bank suggested that if policymakers become confident that prices and wages will keep going up sustainably, an end to negative interest rates is possible.

Portfolio Pulse from Bill Haddad

September 11, 2023 | 5:14 pm

JPM

JPMorgan Chase CEO Jamie Dimon has warned of potential economic risks stemming from quantitative tightening, fiscal spending, and war. He expressed concerns over the potential impacts of these factors on the economy.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 5:06 pm

CNBS

TRSSF

Jason Wild, executive chairman of TerrAscend Corp (OTC:TRSSF), stated that the cannabis industry is in a major storm due to challenges in the capital markets. However, he also pointed out that firms that have managed to maintain a positive cash flow after taxes are in a good position. Tim Seymour, founder of Seymour Asset Management and portfolio manager of Amplify Seymour Cannabis ETF (NYSE:CNBS), agreed with Wild's sentiments on borrowing in the current environment.

Portfolio Pulse from Joana Scopel

September 11, 2023 | 5:05 pm

USFD

US Foods Holding Corp (USFD) has initiated a private offering of $1.0 billion in notes, consisting of senior unsecured notes due 2028 and 2023. The proceeds will be used to redeem its outstanding 6.250% senior secured notes due 2025. The company also revised its FY23 outlook for adjusted EPS to $2.55-$2.65 from $2.45 - $2.65.

Portfolio Pulse from Shivani Kumaresan

September 11, 2023 | 3:09 pm

AZN

BABA

NVS

QCOM

RTX

SFTBF

UBS

WELL

Several major companies have announced significant developments. Qualcomm has signed a chip supply agreement with Apple, potentially boosting its stock. Vietnam Airlines is nearing a $10 billion deal with Boeing to acquire 50 Boeing 737 Max jets. Welltower has raised its FY23 FFO outlook due to strong capital deployment and senior housing business. Novartis' Sandoz has entered a development and commercialization agreement with Samsung Bioepis. RTX Corp is facing a $3 billion pre-tax charge due to a Pratt & Whitney engine problem. AstraZeneca's CEO, Pascal Soriot, is rumored to be stepping down. Alibaba is undergoing a leadership shakeup in its cloud business. A potential United Auto Workers strike could cost the US economy billions. Apple and Google are facing an antitrust showdown. UBS is planning to cut wealth-management jobs in Asia. Arm Holdings is considering boosting its IPO price.

Portfolio Pulse from Vandana Singh

September 11, 2023 | 2:51 pm

AMZN

ANF

CCL

CVNA

RCL

SPY

TSLA

XLY

XRT

A Bloomberg survey indicates that over half of the participants expect U.S. personal consumption to drop by early 2024, marking the first quarterly dip post-pandemic. This could impact retail stocks, which have been booming in 2023. The SPDR Retail ETF (XRT), Carvana Co. (CVNA), Abercrombie & Fitch Co. (ANF), and Amazon.com Inc. (AMZN) have all seen positive returns. The Consumer Discretionary Select Sector SPDR Fund (XLY) and the SPDR S&P 500 ETF Trust (SPY) have also surged, as have Tesla Inc. (TSLA), Royal Caribbean Cruise Ltd. (RCL), and Carnival Corp. (CCL). However, concerns over escalating borrowing costs, depleting consumer savings, and rising debt indicators could pose challenges.

Portfolio Pulse from Piero Cingari

September 11, 2023 | 2:30 pm