Streetbeat News

Credit

BAC

JPM

TFC

WFC

A technical glitch at a major clearinghouse has caused direct deposit delays for customers at several leading banks, including JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC), Bank of America Corp (BAC) and Truist Financial Corp (TFC). The issue has disrupted the flow of payroll deposits and led to a spike in complaints across various banks. The Clearing House (TCH), responsible for operating the payment networks, acknowledged the issue and is working with the affected financial institutions to resolve the matter.

Portfolio Pulse from Michael Cohen

November 03, 2023 | 6:37 pm

STAG

RBC Capital Markets analyst Michael Carroll has downgraded Stag Industrial Inc (NYSE:STAG) to Sector Perform from Outperform and reduced the price target to $39 from $42. Despite the company reporting strong Q3 FY23 earnings, Carroll believes the positive outlook is already reflected in the current stock price. He expects STAG's cash lease spreads to continue to rise, but warns of higher debt costs, particularly with $300 million of notes maturing in Q1 FY25.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 6:32 pm

Citigroup, Inc. (NYSE:C) is reportedly asking credit card holders to use digital bills, or they might lose access to their online accounts. This initiative is part of a 'beta program' for customers who manage their accounts online but continue to receive paper statements. Lawyers and consumer advocates argue that the policy challenges federal regulations. Citigroup's shares are trading higher by 2.53% to $42.40.

Portfolio Pulse from Nabaparna Bhattacharya

November 03, 2023 | 6:05 pm

SPY

Federal Reserve's Neel Kashkari has expressed uncertainty about the factors driving the yield curve, cautioning against betting on any one explanation as it could be incorrect.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:26 pm

BAC

JPM

KBE

KRE

SPY

TFC

USB

WFC

XLF

The Clearing House has experienced a processing issue with a single ACH file and is currently working with impacted financial institutions to resolve the matter.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:26 pm

RSG

Republic Services has amended its unsecured commercial paper program, raising the maximum amount of unsecured commercial paper notes that can be issued under the program to $1.5 billion, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:24 pm

RSG

Republic Services and its unit have entered into Amendment No. 2 to their Amended and Restated Credit Agreement, dated August 17, 2021. The amendment increases commitments under the credit agreement to $500M, bringing the total commitment under the agreement to $3.5B.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:24 pm

NVOS

Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has announced the issuance of a $1 billion gold-backed bond, which is the first step in establishing the instrument for the legal transfer of collateral for the company's exclusive benefit. The bond issuance is a significant step towards achieving the funding needed for the company's international hypergrowth objectives.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 5:17 pm

BAC

Bank of America Corp (BAC) shares are trading higher by 3.6% due to the Federal Reserve's decision to keep rates unchanged. The Fed's stance on maintaining the federal funds rate and a cautious approach to future rate hikes reduces uncertainty in the financial markets, leading to increased demand for bank stocks. This is seen as positive for banks as it helps maintain the profitability of their lending operations.

Portfolio Pulse from Henry Khederian

November 03, 2023 | 5:11 pm

BAC

JPM

TFC

USB

WFC

Bank of America, Chase, Wells Fargo, U.S. Bank, and Truist Financial are reportedly experiencing problems, according to Downdetector.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 4:55 pm