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SPY

Morgan Stanley CEO James Gorman suggests that the Federal Reserve might cut interest rates a few times in the current year. He believes that the economy is performing well and considers a recession to be unlikely.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:47 pm

SPY

Fed's Barkin states that the future path and timing of changes in the U.S. central bank's policy rate will be determined by the conviction on the trajectory of inflation and the economy.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:31 pm

NIO

NIO has notified holders of its 0.00% Convertible Senior Notes due 2026 about their right to require the company to repurchase the notes on February 1, 2024. This repurchase right is pursuant to the Indenture dated January 15, 2021, with The Deutsche Bank Trust Company Americas as trustee, and expires at 5:00 p.m., New York City time, on January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 11:12 am

TPHS

Trinity Place Holdings' stock (TPHS) surged 100% in premarket trading after the company disclosed in an 8K filing that its mortgage lender agreed to extend the mortgage loan forbearance period until January 31, 2024.

Portfolio Pulse from Charles Gross

January 03, 2024 | 10:02 am

GLD

SPY

The U.S. national debt has surpassed $34 trillion, with concerns about its impact on economic growth, government spending, and financial markets. Economists warn of potential crises, and Morgan Stanley's Lisa Shalett recommends shifting to real assets like gold. The SPDR Gold Shares (GLD) rose about 13% in 2023, while the SPDR S&P 500 ETF Trust (SPY) fell 0.56% in a recent session.

Portfolio Pulse from Shanthi Rexaline

January 03, 2024 | 8:48 am

WMB

Williams (NYSE:WMB) has priced a public offering of $2.1 billion in Senior Notes, split into $1.1 billion at 4.900% due 2029 and $1.0 billion at 5.150% due 2034. The offering is set to settle on January 5, 2024. The proceeds are intended for general corporate purposes, including potential repayment of commercial paper notes or other debt.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 6:21 am

EPD

Enterprise Products Partners L.P. (EPD) has priced a public offering of $2 billion in senior notes, split evenly between notes due in 2027 and 2034. The proceeds will be used for general purposes, growth investments, and debt repayment, including the $850 million 3.90% Senior Notes JJ due in February 2024. The 2027 notes have a 4.60% interest rate and the 2034 notes have a 4.85% rate, with both sets of notes being issued at a slight discount. EPD will guarantee the notes unconditionally on an unsecured and unsubordinated basis, with settlement expected on January 11, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 6:14 am

VTNR

Vertex Energy Inc (NASDAQ:VTNR) shares dropped 11.8% after the company announced an amendment to its term loan agreement, increasing its borrowing capacity by $50 million to a total of $198 million. The revised terms include an adjusted interest rate and extend the loan's maturity to April 1, 2025. The company aims to enhance its financial position and explore strategic options to improve its balance sheet. CEO Benjamin P. Cowart sees this as a way to boost liquidity and flexibility for potential business deals, in line with shareholder and company interests.

Portfolio Pulse from Henry Khederian

January 02, 2024 | 3:27 pm

VTNR

Vertex Energy's stock is trading lower following the announcement of an amendment to its term loan agreement, allowing for an additional $50 million in borrowings. This move could indicate a need for more capital and potentially more debt, which investors might view negatively in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:27 pm

VTNR

Vertex Energy, Inc. (NASDAQ:VTNR) has amended its existing term loan agreement, adding $50 million of liquidity to its balance sheet. The amendment allows for an additional $50 million in borrowings, bringing the total outstanding balance to $198 million. The loan bears interest at a base rate plus 1025 basis points and maintains its original maturity date of April 1, 2025. The lenders may also offer an extra $25 million of lending availability. The move aims to provide strategic flexibility and support the evaluation of potential transaction opportunities to strengthen the company's balance sheet.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:24 pm