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EFSH

1847 Holdings LLC (NYSE:EFSH) has successfully restructured its Promissory Notes, totaling approximately $1.75 million, with two institutional investors. The notes are no longer convertible to equity as long as they are repaid by the company over a 12-month amortization schedule. The restructuring is aimed at protecting shareholders by minimizing equity dilution. The company is in a stronger financial position due to the cash flow generated from its portfolio companies.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 2:32 pm

BRAXF

Braxia Scientific Corp. (OTC:BRAXF) reported a Q1 net loss of $592,785, an 18% decrease from the same period in 2022. The company's cash held as of June 30, 2023, was $636,483, compared to $5.67 million by June 30, 2022. Despite the financial challenges, the company saw a 44% YoY increase in revenue and a 17% decrease in operating expenses. CEO Dr. Roger McIntyre mentioned that the company is facing challenges in accessing capital through public markets and is considering alternative sources of capital and partnerships.

Portfolio Pulse from Lara Goldstein

August 31, 2023 | 1:28 pm

FXI

China's Central Bank has announced that the policy floor for commercial personal housing loan interest rate for first home purchases will remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:16 pm

FXI

China's central bank has announced that existing mortgage rates can be lowered from September 25. This move could potentially stimulate the housing market and overall economy.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:12 pm

FXI

China's central bank is planning to adjust interest rates on mortgages, according to Reuters. This could potentially impact the real estate market and overall economy in China.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:10 pm

FXI

Evergrande's wealth unit has announced that it is unable to repay investors this month, according to Reuters. This news may have implications for the iShares China Large-Cap ETF (FXI), which has exposure to Evergrande.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 12:07 pm

CSIQ

Canadian Solar Inc.'s subsidiary, Recurrent Energy, has secured $112 million in project financing for its 160 MW North Fork Solar project, located 100 miles southwest of Oklahoma City. The project is expected to be operational in 2024.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:18 am

ALLT

Allot has revised its FY23 revenue guidance downwards to $95M - $110M from the previous $110M-$120M, against a consensus of $112.47M. The company expects a full year 2023 operating loss of between $38M and $44M, including a $14.1M provision for credit losses from two customers in Africa. It also anticipates a negative cash flow of between $24M and $44M for the same period. However, Allot reiterates its expectations to be profitable in 2024.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 9:05 am

TIP

Economist Peter Schiff warns of a deepening recession due to weak economic data, including falling job vacancies and consumer confidence. He predicts a sharp rise in inflation and interest rates if the dollar weakens further. The iShares TIPS Bond ETF (TIP), which tracks inflation-protected U.S. Treasury bonds, ended Wednesday’s session down 0.15% at $105.85.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 9:02 am

UBS

UBS plans to achieve gross cost reductions of over $10 billion by the end of 2026. This will be achieved through the integration of UBS AG and Credit Suisse AG, planned for 2024, and other measures. The bank aims to have an exit rate cost income ratio of less than 70% by the end of 2026, and a return on CET1 capital of around 15%. UBS Group's 3Q23 underlying PBT is expected to be around breakeven, with positive PBT in 2H23.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 7:22 am