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TPIC

TPI Composites (TPIC) expects to incur credit losses and impairment charges of approximately $20 to $23 million due to Proterra's bankruptcy filing. This has led to a decrease in TPIC's share price.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 4:31 pm

BABA

BIDU

FXI

JD

LI

NIO

NTES

TSLA

Chinese wealth management firm Zhongzhi Enterprise Group Co. missed payments on several high-yield investment products, raising concerns about China's shadow banking industry. This news, along with China's weakening economy and property market troubles, has led to a decline in Chinese stocks and ETFs. The iShares China Large-Cap ETF (NYSE:FXI) opened 1.8% weaker, while major Chinese companies listed on the U.S. stock market, including Alibaba (NASDAQ:BABA), NetEase (NASDAQ:NTES), JD.com (NASDAQ:JD), Baidu (NASDAQ:BIDU), and Li Auto (NASDAQ:LI), saw drops between 1.5% and 3%. Electric vehicle maker NIO (NASDAQ:NIO) dropped over 4%, influenced by Tesla's (NASDAQ:TSLA) price cuts in China.

Portfolio Pulse from Piero Cingari

August 14, 2023 | 2:40 pm

SBEV

Splash Beverage Group has secured a $10 million operating capital credit facility and raised an additional $2.7 million with legacy investors. The company has also retired its S-3 public shelf offering.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:54 pm

EFSH

1847 Holdings LLC has secured additional unsecured debt financing with institutional investors to accelerate its growth. The company issued investors a 20% original issue discount (OID) for $3.125M of 4,098,361 common shares for a total purchase price of $2.5M in a private placement transaction.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:06 pm

NMRD

Nemaura Medical, Inc. (NASDAQ:NMRD) has released its financial results for Q1 2024, reporting cash and cash equivalents of approximately $4M as of June 30, 2023. The company also announced that it secured an additional $6.5M in clean debt on August 11, 2023. Other highlights include initial patient data from the UK NHS Miboko Study showing weight loss in all participants, continued development of its consumer metabolic health platform, and ongoing work with Benchmark Electronics Inc for future volume scale-up manufacture.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:05 pm

AAPL

F

WMT

X

The article covers a range of topics including retail earnings, crypto market movements, US politics, world politics, world economy, tech updates, electric vehicle news, financial risks, and industrial updates. Key highlights include Jim Cramer's advice on FAANG stocks, investor sentiment decline post July's PPI, Donald Trump's Ethereum holdings, Elizabeth Warren's push for $17 minimum wage, Apple's iPhone 15 Pro updates, Ford's collaboration with Tesla, US banks facing deposit flight threat, and US Steel's response to Cleveland-Cliffs' offer.

Portfolio Pulse from Akanksha Bakshi

August 14, 2023 | 12:51 pm

NRG

NRG Energy, Inc. (NYSE:NRG) has announced a proposed offering of pre-capitalized trust securities redeemable 2028 to replace its existing pre-capitalized trust securities redeemable 2023. The proceeds from the sale will be invested in a portfolio of U.S. Treasury securities and will be used as collateral for certain banks that have agreed to provide letters of credit for NRG's account. The offering is only available to qualified institutional buyers.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:51 pm

GS

Goldman Sachs economists predict that the Federal Open Market Committee (FOMC) should initiate rate cuts in Q2 2024, aligning with a period when core PCE inflation is expected to drop below 3% YoY and fall below 2.5% on a monthly annualized basis. The rate cut cycle involves a gradual reduction of 25 basis points per quarter, but the pace remains uncertain. The funds rate is expected to stabilize within the range of 3-3.25%, surpassing the FOMC’s median longer-run projection of 2.5%. In the short term, the FOMC is expected to abstain from a rate hike during the September meeting.

Portfolio Pulse from Piero Cingari

August 14, 2023 | 12:50 pm

COF

DFS

JPM

Despite the alarm raised by the US credit card debt crossing the $1 trillion mark, Ryan Detrick, chief market strategist at The Carson Group, argues that the situation is not as dire as it seems. He points out that consumers are not overspending, debt service payments are lower than pre-pandemic levels, and credit utilization remains stable. He also notes that 97.4% of total balances remain current on payments. Lenders like JP Morgan Chase, Capital One Financial, and Discover Financial Services logged their biggest provision for credit losses earlier this year due to macroeconomic outlook updates.

Portfolio Pulse from AJ Fabino

August 12, 2023 | 7:09 pm

CURLF

Curaleaf Holdings Inc. reported a positive Q2 with revenue at $339 million, a 4% YoY growth. The company ended the quarter with $85 million in cash and generated $37 million in year-to-date cash flow from continuing operations. Despite price pressure and gross margin erosion, particularly in Florida, the company has no plans for large capital raises as it still has a $50 million revolving credit facility available.

Portfolio Pulse from Maureen Meehan

August 11, 2023 | 7:59 pm