Streetbeat News

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KeyBanc Capital Markets analysts revealed credit/debit card spending trends, showing an 18.4% year-over-year increase in 'All Retail' spending as of December 24th. The report highlighted outperformers like Dollar General, Dollar Tree, Five Below, Ollie's Bargain Outlet, and Target, with positive accelerations also seen in Best Buy, Tractor Supply, and Walmart. However, the analysts anticipate potential spending challenges ahead due to macroeconomic factors and the resumption of student loan repayments. In Internet Retail, Lululemon, Nordstrom, and Nike showed positive spending trends, while The RealReal and Etsy experienced mixed results.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 6:21 pm

BHG

Bright Health Group announced an amendment to its credit facility and the upcoming closure of the sale of its California Medicare Advantage business, which is expected to strengthen its capital position.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:49 am

FEDU

Four Seasons Education (Cayman) Inc. has secured a credit facility worth RMB 110 million from China Merchants Bank. This facility is aimed at supporting the company's assets and bolstering its financial position.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 7:00 am

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Equity strategist Richard Kneller from Stifel observes that the bond market is influencing the equities market, behaving erratically like meme stocks. This has led to a rally in the S&P 500 and Nasdaq due to a significant drop in yields over the past two months. The bond market's fluctuations are in response to anticipated Federal Reserve policies and new inflation data. Speculation about the Fed's rate cuts varies, with some expecting up to six cuts. Vance Howard of Howard Capital Management predicts long-term bonds could outperform the S&P 500 in 2024, having invested in the iShares 20+ Year Treasury Bond ETF. Bank of America projects the S&P 500 to reach 5,000 points by the end of 2024.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 1:54 am

GBNH

Greenbrook TMS Inc. has obtained an additional $5.3 million in senior secured term loans from investment firm Madryn Asset Management. This funding is part of an existing credit facility agreement between the two parties.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 10:01 pm

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Bitcoin SV surged 51%, outperforming Bitcoin and Ethereum. Microstrategy's increased Bitcoin holdings prompted Canaccord Genuity to raise its price target. Ark Invest bought ProShares Bitcoin ETF shares and sold Coinbase, Block, and Palantir shares. In other markets, Bit Digital and Cipher Mining stocks moved higher. US politics and economy saw developments, including corporate default warnings from Fitch and a recession forecast by Peter Schiff. Tech giants like Google, Apple, and Microsoft made headlines with AI and security updates. In the EV sector, Tesla and Xiaomi made news, while Ford recalled F-Series cars. Credit Suisse was fined by Singapore, and New Fortress Energy secured a significant contract in Brazil.

Portfolio Pulse from Akanksha Bakshi

December 28, 2023 | 2:10 pm

VLD

Velo3D has amended the terms of its Senior Secured Notes due 2026 with the note holders, which could impact the company's financial flexibility and debt structure.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 12:57 pm

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China's central bank has announced its intention to continue increasing financial support to enterprises and key groups to stabilize and expand employment. Additionally, the bank aims to promote a stable and healthy development of the real estate market and is committed to maintaining the stability of the Yuan.

Portfolio Pulse from Charles Gross

December 28, 2023 | 12:09 pm

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Economist Peter Schiff warns that the U.S. dollar is at risk of losing its safe-haven appeal as the Swiss franc is set to record its biggest annual gain since 2010. The Dollar Index has fallen about 3% this year due to expectations of Federal Reserve rate cuts. Schiff predicts the franc will hit a record high against the dollar in early 2024, indicating the dollar's waning status. The Invesco DB US Dollar Index Bullish Fund (UUP) reflects this trend, closing down 0.52% recently.

Portfolio Pulse from Shanthi Rexaline

December 28, 2023 | 9:08 am

UBS

Credit Suisse has been fined $3 million by the Monetary Authority of Singapore for failing to provide accurate post-trade disclosures, resulting in overcharging clients for bond transactions. The bank, now under UBS Group AG's control, has compensated the affected clients and paid the fine. Credit Suisse has also enhanced its policies to prevent future misconduct. This follows a series of financial issues for the bank, including a $4 billion Q2 loss and a money-laundering probe involving Chinese nationals.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 6:10 am