Streetbeat News

Credit

GOL

GOL Linhas Aéreas Inteligentes S.A. (NYSE:GOL) has received approval for a credit insurance policy backed by the Export Guarantee Fund (FGE) to finance up to $209 million for maintenance of its CFM56-7B engines. The policy supports local maintenance services in Brazil by GE-Celma MRO and strengthens GOL's ability to secure third-party credit lines.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 12:59 pm

IBIO

iBio CDMO, a subsidiary of iBio, Inc., and Woodforest National Bank have amended their credit agreement, extending the maturity date of the term loan from December 31, 2023, to March 29, 2024, or an earlier date if the loan matures due to acceleration.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 12:25 pm

GLD

IWM

QQQ

SPY

The Personal Consumption Expenditures (PCE) index inflation dropped to its lowest since March 2021, leading to market expectations of interest rate cuts in 2024. Economists are debating the Federal Reserve's next moves, with some cautioning against premature rate cuts due to robust GDP growth and low unemployment. The PCE report, along with mixed economic data, influenced the stock and bond markets, with slight increases in SPY, QQQ, and IWM, and a marginal rise in Treasury yields. The SPDR Gold Trust (GLD) also saw a 0.4% increase.

Portfolio Pulse from Piero Cingari

December 22, 2023 | 5:42 pm

AAPL

AMZN

BRK.A

DIS

MSFT

NKE

TSLA

Cryptocurrencies like Dogecoin, SHIB, and Solana are experiencing significant market movements. Tesla is recalling 120,000 Model S and X EVs due to door issues. Nike and NetEase stocks moved lower in pre-market trading. US markets are optimistic with Dow jumping over 300 points. US and world politics are active with developments in US-China relations and Trump's potential 2024 run. The US economy sees criticism from Peter Schiff regarding Q3 GDP. In tech, Apple and Microsoft face challenges, while Tencent is hit by new regulations. The EV sector is highlighted by Tesla's recall and bullish predictions. GM recalls Chevrolet Bolt EVs. Amazon and Disney face challenges in communication, while Boeing resumes 787 deliveries to China. US banks may face significant losses in real estate, and Berkshire Hathaway increases its stake in Occidental Petroleum.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 1:35 pm

AENT

Alliance Entertainment has closed a new 3-year $120 million senior secured asset based credit facility with White Oak Commercial Finance, LLC. This facility replaces their previous arrangement with Bank of America and includes a revolving credit facility with an interest rate of 30-day SOFR plus 4.5%. The funds will be used to retire the existing credit facility, support working capital, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:19 am

AZZ

AZZ Inc. (NYSE:AZZ) has successfully repriced its $400 million Senior Secured Revolver due May 2027, resulting in a reduction of interest rate margins and the removal of a 10 basis point Credit Spread Adjustment. This will lead to lower interest costs through the maturity of the facility. The company has also been working on reducing its net debt to EBITDA leverage ratio since acquiring Precoat Metals in May 2022.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:33 pm

HLIT

Harmonic Inc. has entered into a new five-year credit agreement, securing $160 million in committed credit. This financial move could provide the company with increased financial flexibility and support its growth strategies or potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:20 pm

BXMT

Muddy Waters Research, a notable short-selling firm, is targeting Blackstone Mortgage Trust Inc. (NYSE:BXMT) for a potential short-sell opportunity in 2024. Blackstone Inc.'s private REIT and BXMT have faced challenges in 2023, with the former limiting shareholder redemptions and the latter struggling with high interest rates and share price volatility. BXMT's focus on commercial real estate financing is risky due to high vacancy rates and potential defaults. Muddy Waters predicts a dividend cut and liquidity crisis for BXMT in 2024, which could lead to significant losses and insolvency risks.

Portfolio Pulse from Eric McConnell

December 21, 2023 | 3:00 pm

BOH

CADE

CUBI

FBK

GBCI

IBCP

KRE

LKFN

LOB

MCB

PFC

U.S. regional bank stocks have rebounded strongly, with the SPDR S&P Regional Banking ETF (KRE) surging 35% in two months. This rally is driven by the Federal Reserve's shift towards a more accommodative monetary policy, which is expected to lower interest rates in 2024. Ten regional banks within the KRE ETF have seen returns over 40% in the last three months. The economic outlook for 2024 suggests moderate growth and a decrease in inflation, which could benefit regional banks if these conditions persist.

Portfolio Pulse from Piero Cingari

December 21, 2023 | 1:43 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has partnered with lending technology firm Origence to offer credit union financing to U.S. customers, aiming to make EVs more affordable by providing competitive rates and extended financing terms. This initiative allows buyers to finance their Tesla vehicles through credit unions via Origence's FI Connect, either through Tesla's website or mobile app. The move addresses concerns raised by CEO Elon Musk about high-interest rates affecting vehicle affordability.

Portfolio Pulse from Anan Ashraf

December 21, 2023 | 12:47 pm