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Credit

Philip Morris Intl Inc. (NYSE:PM) has seen its shares decrease by 0.95% in the past three months. The company's total debt stands at $47.12 billion, with $40.42 billion in long-term debt and $6.71 billion in current debt. After adjusting for $2.43 billion in cash-equivalents, the net debt is $44.69 billion. The company's debt-ratio is 0.76, indicating a significant portion of debt is funded by assets.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 7:00 pm

BTCUSD

MSTR

MicroStrategy (NASDAQ:MSTR) may sell its Bitcoin holdings in the event of severe price drops, particularly around the time its debt is due in mid-2025, according to a report from Bernstein. The company currently holds approximately 152,000 Bitcoin, which cost about $4.5 billion. Berenberg Capital Markets analysts have raised their price target for MicroStrategy from $430 to $510 due to a more favorable environment for Bitcoin's institutional adoption.

Portfolio Pulse from Murtuza Merchant

July 12, 2023 | 3:56 pm

SPY

Minneapolis Fed President Kashkari stated that small and midsize banks are feeling deposit-constrained, while the biggest banks have more liquidity. He suggested that higher capitalization across US banks would better position the U.S.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:38 pm

SPY

Minneapolis Fed President, Kashkari, has stated that he would be reluctant to adjust the balance sheet runoff for the sake of bank stress. This statement suggests that the Federal Reserve is not planning to intervene in the current market conditions to alleviate bank stress.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:33 pm

IGC

IGC Pharma, Inc. (AMEX:IGC) reported FY23 financial results, with revenue of $911,000, a 129% increase from FY22. Gross profit was $422,000, R&D expenses were $3.5 million, and net loss was $11.5 million. The company is progressing with its drug formulations through FDA trials, particularly IGC-AD1, which is showing strong results in phase 2B trials. IGC Pharma also secured a $12M credit facility from O-Bank for Alzheimer's research and raised $3M via private placement.

Portfolio Pulse from Vuk Zdinjak

July 12, 2023 | 2:13 pm

AAPL

Apple Inc. has launched a promotion for new Apple Card customers, offering up to 10% Daily Cash back on purchases made using the credit, up from the usual 1% to 3%. The promotion runs from July 11 to July 25 and applies to qualifying spends on App Store purchases and other Apple services. The boosted cash back offer will last for six months from the date of signing up.

Portfolio Pulse from Rounak Jain

July 12, 2023 | 1:49 pm

ATVI

AVGO

BRK-A

COIN

COTY

DIS

DPZ

GOOG

HYMTF

IBM

MSFT

NVO

TAK

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

UPST

Arbor Financial Credit Union has chosen Upstart for its personal lending services. The terms of the agreement were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 1:06 pm

BIDU

Baidu Inc.'s shares have increased by 12.97% in the past three months. The company's total debt stands at $12.14 billion, with $9.16 billion in long-term debt and $2.98 billion in current debt. After adjusting for $7.71 billion in cash-equivalents, the net debt is $4.43 billion. Baidu's total assets are $56.69 billion, making the debt-ratio 0.21. Debt is an important factor in a company's capital structure and contributes to its growth.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 1:00 pm

BAC

Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), has been fined $12 million by regulators for failing to file approximately 1,500 suspicious activity reports (SARs) over a span of more than ten years. The company used a $25,000 threshold for reporting SARs between 2009 and late 2019, contrary to U.S. anti-money-laundering rules which require SARs for transactions exceeding $5,000. Bank of America was also ordered to pay a $250 million penalty for opening credit-card accounts without customers’ consent and double-charging fees.

Portfolio Pulse from Benzinga Newsbot

July 12, 2023 | 8:52 am