Streetbeat News

Credit

AXP

American Express reported that their credit metrics remained robust throughout the year, with net write-off and delinquency rates for total Card Member loans and receivables being lower than the levels seen before the pandemic.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 12:04 pm

YS

YS Biopharma's unit received a letter alleging a breach of a financial covenant related to EBITDA margin. R-Bridge has urged the unit to prepay a loan of $44.7 million by January 31, citing a material adverse effect.

Portfolio Pulse from Charles Gross

January 26, 2024 | 11:33 am

FXE

IEV

ECB President Christine Lagarde has dismissed the notion that Europe is entering a recession despite potential negative growth, contrasting with the robust U.S. economy. She stated that rate cuts are premature, focusing on the disinflation process. Markets are skeptical, pricing in significant rate cuts by December 2024. The euro fell against the dollar, and the Invesco CurrencyShares Euro Currency Trust (FXE) dropped slightly, while the iShares Europe ETF (IEV) rose marginally.

Portfolio Pulse from Piero Cingari

January 25, 2024 | 9:58 pm

GOL

GOL Linhas Aéreas Inteligentes S.A., a Brazilian airline, has announced it will utilize the United States Chapter 11 bankruptcy process to restructure and strengthen its financial position. The company has secured a $950 million new financing commitment to support its business during this process.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:20 pm

LUMN

Lumen Technologies' stock is trading higher following the announcement of an amended and restated transaction support agreement with a group of creditors.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:56 pm

LUMN

Lumen Technologies, Inc. (NYSE:LUMN) has entered into an amended transaction support agreement with creditors representing over $12.5 billion of debt. The agreement extends debt maturities to 2029 and beyond, provides $1.325 billion in new long-term debt, and access to a new $1 billion revolving credit facility. The TSA is expected to close in Q1 2024, subject to conditions. This move is part of Lumen's transformation and turnaround plan, aiming to disrupt the telecom industry. The company filed a Current Report on Form 8-K with the SEC detailing the agreement.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 2:13 pm

GOVT

SCHO

SCHR

The U.S. Treasury is expected to announce an increase in government bond supply on Jan. 31, raising questions about whether investor demand can keep pace. Demand for Treasuries dropped in late 2023, with yields peaking in October. However, demand has returned as the Fed's rate hike cycle appears to have peaked, and expectations of rate cuts have grown. Bank of America's Mark Cabana anticipates the Treasury will repeat the auction size increases seen in November. ETFs like iShares U.S. Treasury Bond ETF (GOVT), Schwab Short-Term U.S. Treasury ETF (SCHO), and Schwab Intermediate-Term U.S. Treasury ETF (SCHR) allow investors to track bond price movements. Despite concerns, auction performance has not consistently deteriorated, and a range of investors has shown improved demand for Treasuries.

Portfolio Pulse from Neil Dennis

January 25, 2024 | 2:09 pm

TALO

Talos Energy has increased its proposed offering of second-priority senior secured notes from $1 billion to $1.25 billion. This upsizing indicates the company's ability to raise more capital than initially anticipated.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:54 am

BTCUSD

DOGEUSD

ETHUSD

HNTUSD

PENDLEUSD

Cryptocurrencies traded mixed amid macroeconomic concerns, with Bitcoin slightly up and Ethereum down. The U.S. dollar index rebounded, reducing expectations for interest rate cuts. The S&P 500 and Nasdaq ended positively, while the Dow Jones fell. Analysts suggest Bitcoin is nearing a critical support level and whales continue to accumulate despite market corrections.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 3:15 am

CZR

Caesars Entertainment has priced its previously announced offering of $1.5 billion of senior secured notes due in 2032. The offering is anticipated to close around February 6, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:40 pm