Streetbeat News

Credit

COR

Cencora has priced $500M in 5.125% Senior Notes due 2034, with the offering expected to close on February 7, 2024. The proceeds will be used to redeem its 3.400% Senior Notes due 2024 and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:04 am

SPY

Peter Schiff criticized Federal Reserve Chair Jerome Powell for downplaying the national debt as a long-term issue, arguing it poses a significant short-term threat. Schiff's comments come amid concerns over the U.S. debt reaching $34.20 trillion and potential economic impacts. The SPDR S&P 500 ETF Trust (SPY) saw a 1.25% increase to $494.3.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 10:26 am

ICLN

TSLA

Short-seller Jim Chanos criticized Tesla CEO Elon Musk's proposal for a carbon tax as a measure against climate change, labeling Musk as 'Subsidy King' and 'new darling of the Right'. Musk advocates for a carbon tax to combat climate change, citing a $5.3 trillion annual carbon subsidy per the IMF. Chanos, known for his bets against Tesla and Enron, recently closed his hedge fund. The debate highlights differing views on addressing climate change and the role of electric vehicles and renewable energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 6:24 am

CANO

Cano Health announced a restructuring agreement with the majority of its existing lenders aimed at strengthening its financial position. This strategic move is designed to improve the company's balance sheet and ensure long-term sustainability.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:59 am

BLK

JPM

Financial experts including Bill Gross, BlackRock, and Jamie Dimon provided insights on the U.S. economy, discussing a looming debt crisis, bullish views on U.S. stocks, and potential unemployment rate increases. Gross compared the U.S.'s $34 trillion debt to climate change impacts, predicting inflation due to annual deficits. BlackRock upgraded U.S. stocks to 'overweight', anticipating an economic soft landing and interest rate cuts. Mizuho's Dominic Konstam projected unemployment could double by year-end. Peter Schiff criticized the Federal Reserve's inflation policy, and Dimon warned of a global market 'rebellion' due to U.S. debt levels.

Portfolio Pulse from Benzinga Neuro

February 04, 2024 | 11:08 am

GTE

Gran Tierra Energy Inc. has priced an additional offering of $100 million in 9.500% Senior Secured Amortizing Notes due 2029. This private placement targets qualified institutional buyers in the U.S. under Rule 144A and non-U.S. persons under Regulation S, along with certain exemptions in Canada.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 7:08 am

ARKB

FBTC

KRE

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading higher amid fears of U.S. regional banking instability. The SPDR S&P Regional Banking ETF fell 3.12%, reflecting concerns over increased regulatory scrutiny for regional banks. Analysts predict a potential market peak for Bitcoin by October 2025, following historical trends of post-halving rallies. Cathie Wood of Ark Invest highlighted crypto assets' appreciation during banking crises as a hedge against fiat assets. Bitcoin ETFs, including ARKB and FBTC, continue to see significant volume despite recent market corrections.

Portfolio Pulse from Shivdeep Dhaliwal

February 02, 2024 | 6:28 am

ARE

Alexandria Real Estate Equities has announced the pricing of its public offering of $400M 5.250% Senior Notes due 2036 and $600M 5.625% Senior Notes due 2054. The notes, guaranteed by Alexandria Real Estate Equities, L.P., are expected to close on February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:27 am

API

DB

NYCB

The commercial real estate sector's struggles have led to a significant drop in regional bank stocks, highlighted by New York Community Bancorp, Inc.'s (NYCB) 40% drop due to a Q4 loss from distressed loans. Other banks like Agora Inc (API) and Deutsche Bank AG (DB) also faced declines. The looming $2.2 trillion debt in the US commercial property sector threatens smaller banks, with some offloading property loan portfolios to reduce exposure.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 2:22 am

KRE

NYCB

Regional bank stocks, including New York Community Bancorp (NYSE:NYCB), have plunged due to concerns over commercial real estate exposure. The SPDR S&P Regional Banking ETF (NYSE:KRE) fell over 11% in two days, marking its worst slump since March 2023. Analysts have downgraded NYCB's price target and expressed concerns over the sector's exposure to commercial real estate loans, with NYCB having the highest concentration at 56% of total loans.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 4:46 pm