Streetbeat News

Credit

PLTK

Playtika has revised its FY23 Credit Adjusted EBITDA guidance to be between $825M and $832M.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:00 pm

TLT

UTEN

XLRE

Mortgage applications increased by 2.5% for the week ending Nov. 3, breaking a three-week decline, according to the Mortgage Bankers Association. This coincided with a significant drop in U.S. Treasury yields. The 30-year fixed rate on mortgages averaged 7.61%, a decline of 25 basis points from the previous week. Real estate stocks tracked by the Real Estate Select Sector SPDR Fund (NYSE:XLRE) were up 0.6%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) and the US 10-Year Treasury Note ETF (NYSE:UTEN) also rose by 5.5% and 2.5% respectively.

Portfolio Pulse from Piero Cingari

November 08, 2023 | 4:41 pm

BAC

SPY

Bank of America's CEO has stated that financial conditions are tightening and commercial customers are borrowing less. He also mentioned that it's a mistake to think banks drive ESG, as companies are the ones driving it. He warned that higher capital rules will increase the cost of doing business in the U.S.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 4:27 pm

TPB

Turning Point Brands, Inc. (NYSE:TPB) reported a 10.2% YoY decrease in Zig-Zag products net sales to $46.8 million in Q3 2023. However, the company's CEO, Graham Purdy, remains optimistic due to the growing cannabis consumption trends. The company also closed on a new $75 million asset-based revolving credit facility, replacing a $25 million facility. The company's shares traded 6.42% higher at $22.71 per share.

Portfolio Pulse from Jelena Martinovic

November 08, 2023 | 4:14 pm

EWG

Germany's 10-Year Bund auction yield has decreased to 2.640% from the previous 2.900%.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:42 am

PAC

Grupo Aeroportuario Del Pacifico has secured a Ps. 1.5B credit line from Banco Santander. This financial move could provide the company with additional liquidity and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:29 am

ARES

Ares Management has priced its $500M 6.375% senior notes due 2028. The notes will bear interest semi-annually and the net proceeds from the offering will be approximately $496.0 million. The company plans to use the proceeds for general corporate purposes, including debt repayment and funding growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:25 am

LNT

Alliant Energy Finance, a subsidiary of Alliant Energy Corporation, has announced the pricing of a private offering of $300 million aggregate principal amount of 5.950% senior unsecured notes, due on March 30, 2029. The proceeds from the offering will be used to reduce the company's outstanding commercial paper and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:20 am

AAPL

AXP

GM

GS

Goldman Sachs is reportedly preparing to sell its General Motors credit card program, reflecting a broader reassessment of its consumer lending efforts. The bank has also been in discussions with American Express regarding interest in the Apple card program. This move follows Goldman Sachs's downsizing of its consumer-lending division, including the sale of specialty lender GreenSky and most of the personal loan portfolio.

Portfolio Pulse from Benzinga Neuro

November 08, 2023 | 5:10 am

PFMT

Performant Financial has updated its FY23 revenue guidance to $111.75M-$118M, compared to the estimated $112.7M. The company maintains its annual healthcare market guidance of $105M-$110M and customer care market revenues of $6.75M-$8M. The company is also excited about its new credit agreement which provides increased flexibility to grow the business.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 1:04 am