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SPY

In a recent statement, Federal Reserve Bank of Richmond President Thomas Barkin expressed his view that inflation is more persistent than what the average Federal Reserve official believes. This suggests that the fight against inflation may be more prolonged, potentially influencing the Fed's monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:41 pm

TRIN

TSHA

Trinity Capital has committed to providing $40 million in term loans to Taysha Gene Therapies, a company focused on the development of gene therapies for central nervous system disorders.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:43 pm

AEE

Ameren Corporation (NYSE:AEE) has priced a public offering of $700 million in 5.00% senior notes due 2029 at 99.774% of their principal amount. The offering is expected to close on December 21, 2023. Ameren plans to use the proceeds for general corporate purposes and to repay part of its short-term debt.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:09 am

KMX

The U.S. car loan market is facing a crisis with record levels of negative equity and delinquency rates. Edmunds.com reports that average negative equity hit a record $6,054 in November, the highest since April 2020. Auto loan debt is the third-largest consumer debt category at $1.595 trillion. Fitch Ratings indicates a record high delinquency rate for subprime auto loans at 6.11% in September 2023. The Manheim Used Vehicle Value Index shows a 5.8% year-over-year drop. High interest rates are burdening borrowers, especially those with poor credit. CarMax Inc. (NYSE:KMX) is in focus as its earnings report on Dec. 21, 2023, could reflect these market conditions, with an expected EPS of $0.43 and quarterly revenue of $6.3 billion.

Portfolio Pulse from Piero Cingari

December 18, 2023 | 10:33 pm

LPTV

Loop Media, Inc. (NYSE: LPTV) has improved its balance sheet by accessing approximately $4.0 million in additional capital and converting $2.3 million of existing long-term debt into equity. The capital increase comes from the exercise of warrants and a new revolving debt facility with Excel Family Partners, LLLP. The transactions involve related parties, including Excel, managed by Loop's Chairman Bruce Cassidy, Sr., and board member Denise Penz. The company plans to use the funds to support its FY24 business plan, focusing on growing its distribution footprint and revenues.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 9:18 pm

CZOO

Cazoo Group Ltd announced in an SEC filing that it will require additional capital before the second half of 2024 to meet future liquidity needs. The company expects to have cash and cash equivalents between £100M-£115M by December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 9:10 pm

ADMA

ADMA Biologics, Inc. has refinanced its credit facilities with Ares Management, securing a new $135 million credit facility that replaces the existing $159 million facility with Hayfin Capital Management. This move reduces ADMA's total debt by 15% and is expected to support the company's rapid earnings growth. The new facility includes a $72.5 million asset-backed revolving credit facility and a $62.5 million term loan, both of which were fully drawn at closing to repay the previous obligations.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 9:07 pm

SPY

Fed's Daly suggests that fewer rate cuts would be necessary if inflation progress stalls, while more cuts could be appropriate if inflation falls faster. Daly also indicates that up to three rate cuts could be needed in 2024 to prevent overshooting the inflation target, according to a WSJ report.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 8:56 pm

SPY

A Federal Reserve official has suggested that rate cuts may be necessary next year to avoid excessive tightening of monetary policy. This statement indicates a potential shift in the Fed's approach to managing inflation and economic growth, which could have implications for financial markets.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 8:52 pm

EWC

BMO Capital Markets has revised its forecast for the Bank of Canada, now expecting interest rate cuts to begin in Q2 of 2024. The policy rate is projected to decrease by a full percentage point to 4% by this time next year. This outlook is less aggressive than market expectations, with rate cuts anticipated once inflation reaches the mid-2% range, expected in the spring.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:17 pm