Streetbeat News

Credit

F

Ford Motor Co anticipates underfunded pension and OPEB (Other Postemployment Benefits) plans by the end of 2023, with deficits of approximately $2.3 billion and $4.7 billion, respectively. The company also expects a pre-tax remeasurement loss of $900 million in Q4 2023 related to pension plans outside the U.S., as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:22 pm

VTOL

Bristow Group Inc. (NYSE:VTOL) has secured a new twelve-year equipment financing deal for up to £55 million with a bank syndicate led by NatWest to support its capital commitments for the UKSAR2G contract. The financing, backed by four new AW139 SAR helicopters, will fund in 2024 and bears interest at SOIA plus 2.75% per annum. The syndicate includes NatWest, Virgin Money, and First-Citizens Bank & Trust Company.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 9:02 pm

DHI

LEN

PHM

D.R. Horton Inc's (NYSE:DHI) Q4 results showed revenue growth but lower net earnings and margins due to sales incentives. Analysts gave mixed reviews, with Keefe, Bruyette and Woods maintaining an Outperform rating and Wedbush rating it Neutral with a $115 price target. D.R. Horton's stock dropped over 10%, affecting other homebuilders like Lennar (NYSE:LEN) and Pulte Group (NYSE:PHM). Consumer credit is stretched, with higher credit card spending reported by major banks. Mortgage rates have decreased, and further rate cuts by the Fed could lead to a modest housing recovery, but the outlook remains uncertain.

Portfolio Pulse from Neil Dennis

January 24, 2024 | 6:19 pm

GETR

Getaround Inc (NYSE:GETR) stock surged 139% to $0.44 after securing a new debt facility with Mudrick Capital Management for up to $20 million. The funding supports Getaround's 2024 operating plan, with an initial draw of $5 million. This follows strong Q3 2023 results, with 42% revenue growth and a 52% trip contribution margin. Getaround also launched a new global app and website, and Jason Mudrick joined the board. Ahmed Fattouh stepped down from the board following the funding.

Portfolio Pulse from Henry Khederian

January 24, 2024 | 4:07 pm

PLUG

Plug Power has commenced production at its new liquid green hydrogen plant in Georgia. Additionally, the company is finalizing a $1.6 billion loan from the US Energy Department, which has contributed to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:47 pm

ECO

GPRE

VTNR

The article highlights three energy stocks that are considered oversold based on their Relative Strength Index (RSI) values, suggesting they may be undervalued and poised for a potential rebound in Q1. Green Plains Inc. (GPRE) has an RSI of 22.05 and recently had its price target lowered by Truist Securities. Vertex Energy, Inc. (VTNR) secured an additional $50 million in borrowing capacity and has an RSI of 28.08. Okeanis Eco Tankers Corp. (ECO) issued a commercial update and has an RSI of 28.77.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 12:08 pm

BABA

BIDU

FXI

PDD

SPY

China's Central Bank Governor stated that the bank will utilize various policy tools to maintain reasonably ample liquidity. The bank aims to improve credit structure and increase support for private and small firms, according to Reuters.

Portfolio Pulse from Charles Gross

January 24, 2024 | 10:55 am

CLMT

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) announced the replacement of its previous Supply and Offtake Agreements for its Shreveport and Montana Refining facilities with a new agreement with J. Aron and an expansion of its Asset Backed Loan facility. The new Shreveport SOA was entered into on January 17, 2024, and the ABL facility has been increased to support inventories previously covered under the Montana Refining SOA.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 6:52 am

BB

BlackBerry Ltd (NYSE:BB) shares dropped in after-hours trading following the announcement of a proposed private offering of $160 million Convertible Senior Notes due 2029, exclusively to qualified institutional investors. The company plans to use the proceeds to repay or repurchase its outstanding $150 million 1.75% extendible convertible unsecured debentures due next month. Despite a slight improvement in stock performance and revenue over the past three months, analysts remain neutral, with RBC Capital's Paul Treiber predicting an 11.11% decline in the stock.

Portfolio Pulse from Adam Eckert

January 23, 2024 | 9:32 pm

BB

BlackBerry's stock trades lower following the announcement of a $160 million convertible senior notes private offering.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:32 pm