Streetbeat News

Credit

USO

Economist Peter Schiff warns that inflationary pressure is not yet contained and is likely to continue due to high US national debt and increasing energy consumption. He notes that bond yields and oil prices are likely to continue rising. The US national debt is about $33 trillion and the country has been living beyond its means since 2001. High oil prices could push up inflation. The United States Oil Fund, LP (NYSE:USO) ended Friday’s session up 0.21% at $81.29.

Portfolio Pulse from Shanthi Rexaline

September 16, 2023 | 5:45 pm

TLT

Financial experts Jim Bianco and Mohamed El-Erian have warned of a potential inflationary storm due to the surge in oil prices and the economy's resilience. They predict further interest rate hikes and a multi-year bear market for bonds. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has fallen 47% since its July 2020 highs. Bianco forecasts a rate hike in November and another at the start of 2024.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 5:02 pm

RKT

UWMC

WFC

The housing market has seen a significant contraction due to the end of record-low interest rates, with mortgage loan applications at a 25-year low. The market remains a seller's market with a shortage of available homes, rising mortgage rates, and growing home prices. Major mortgage lenders Rocket Companies (RKT), UWM Holdings Corp (UWMC), and Wells Fargo (WFC) have seen their stocks lose momentum.

Portfolio Pulse from Thrash Capital

September 15, 2023 | 2:32 pm

ARM

BBBYQ

CRM

DIS

LMT

NOC

NVS

RTX

STLA

TMUS

YUMC

Instacart is considering revising its IPO target price upwards following Arm Holdings Plc's IPO debut. Goldman Sachs is offering affluent clients a chance to acquire a share of ownership in a private sports team. RTX Corp terminated a multi-billion-dollar agreement with Scopa Defense due to concerns about international sanctions. Byron Allen has made a $10 billion offer to acquire a significant chunk of Walt Disney Co's media empire. Salesforce Inc is hiring approximately 3,300 new employees. The United Auto Workers union has started a simultaneous strike against the Detroit three automakers. Novartis AG's shareholders approved the proposed 100% Spin-off of Sandoz. T-Mobile US Inc is exploring a significant foray into the fiber-optic network arena. China is set to impose sanctions against Lockheed Martin Corp and Northrop Grumman Corp. Former employees of Bed Bath & Beyond Inc filed a lawsuit against the committee responsible for overseeing its 401(k) retirement plan. Citigroup Inc is reportedly considering job cuts. Yum China Holdings Inc is investing heavily in technology.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 1:55 pm

MUR

Murphy Oil Corporation has announced the closure of a non-core Canadian asset sale for $104M. The company also plans to redeem all of its outstanding 5.750% Senior Notes due 2025 on October 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 10:40 am

HPK

HighPeak Energy has reported that its Q3 production has continued to average over 50,000 barrels of oil equivalent (Boe) per day, in line with its expectations. The company also announced the closing of a $1.2 billion term loan financing.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 9:36 am

ADBE

Adobe Inc has established a commercial paper program, allowing it to issue short-term, unsecured commercial paper notes.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:10 pm

SHFS

Safe Harbor Financial (NASDAQ:SHFS) has originated a $3 million loan for a Washington-based organic THC-infused beverage company to fuel its expansion into the California market. Safe Harbor has been a pioneer in providing financial services to the regulated cannabis sector, including compliance, monitoring, and validation services.

Portfolio Pulse from Nicolás Jose Rodriguez

September 14, 2023 | 5:43 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced it will no longer fund BioSteel Sports Nutrition Inc., a business unit that represented about 60% of the company's Q1 FY2024 adjusted EBITDA loss. The company is exploring strategic alternatives for BioSteel, including a potential sale. This move is part of Canopy's strategy to streamline operations and cut costs.

Portfolio Pulse from Jelena Martinovic

September 14, 2023 | 3:05 pm

VGK

The Euro Zone Marginal Lending Facility Rate has increased to 4.75% from the previous rate of 4.50%.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 12:19 pm