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TCNNF

Trulieve Cannabis Corp (OTCQX:TCNNF) is dealing with a financial scandal involving its former CFO Alex D’Amico, who is accused of misusing corporate credit cards and seeking reimbursements for personal expenses, amounting to around $400,000. The company has stated that these improprieties have not significantly impacted its financial statements. Trulieve has appointed Tim Mullany as the new CFO, but he left due to personal reasons, leading to the return of interim CFO Ryan Blust. D’Amico is now the CFO at CytoSorbents, a medical technology company.

Portfolio Pulse from Joana Scopel

August 10, 2023 | 9:19 pm

VLD

Velo3D's shares are trading lower following the company's disappointing Q2 financial results and the announcement of a $70 million offering of senior secured convertible notes.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:16 pm

VLD

Velo3D has announced an offering of $70 million of senior secured convertible notes. The company is listed on the NYSE under the ticker symbol VLD.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:09 pm

CE

RBC Capital Markets analyst Arun Viswanathan reiterated an Outperform rating on Celanese Corporation (CE), raising the price target to $145 from $128. Despite a 2% decrease in net sales in Q2, the company is on track to pay down over $1 billion in debt by FY24. The analyst believes this is possible through cash repatriation, debt re-domiciling efforts, the closing of its Food Ingredients JV, and a working capital reduction plan. However, the analyst lowered the FY23 EPS estimate to $9-$10 and reduced FY23 and FY24 EBITDA estimates.

Portfolio Pulse from Nabaparna Bhattacharya

August 10, 2023 | 7:09 pm

YELL

Shares of Yellow Corporation are experiencing increased volatility due to speculation about potential financing options.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 5:10 pm

GS

JPM

JPMorgan is facing challenges in offloading commercial real estate loans due to a potential crisis in the sector. The bank has been trying to sell a $350 million loan backed by the HSBC Tower in Manhattan. Meanwhile, a Russian court has frozen assets worth around $36 million owned by Goldman Sachs after Otkritie Bank alleged that Goldman Sachs declined to honor a swap contract due to sanctions related to the conflict in Ukraine.

Portfolio Pulse from Mohit Manghnani

August 10, 2023 | 4:57 pm

SPY

Federal Reserve's Daly has expressed support for the rate hike implemented in July. She also stated that to support holding rates, a completely downward path of inflation would be needed.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:17 pm

SPY

Federal Reserve's Mary Daly stated that it is too early to determine whether interest rates will be raised or held. She noted that inflation data is moving in the right direction. However, if core services excluding housing stalls, it would be significant information. Contacts have expressed concerns that inflation is too high.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:17 pm

AMZN

BABA

DIS

FTTUSD

GRTX

NVO

PLUG

SIX

WWW

Disney is considering strategic partnerships for ESPN and a shift to streaming. FTX is facing issues with traders and market makers over asset domination. Amazon is reducing its private-label operation to address antitrust scrutiny. Alibaba reported a 14% YoY revenue growth. Plug Power reported a 72% YoY revenue increase but a larger than expected loss. Wolverine World Wide reported a 17.4% YoY revenue decline. Six Flags reported a 2% YoY sales growth. Galera Therapeutics received a Complete Response Letter from the FDA. Novo Nordisk reported a 29% YoY sales increase and raised its FY23 guidance. Novo Nordisk also agreed to buy Inversago Pharma. Two key executives from Amazon's drone delivery program, Prime Air, have quit.

Portfolio Pulse from Vandana Singh

August 10, 2023 | 3:10 pm

CE

Celanese has announced a cash tender offer for up to $1.75 billion aggregate purchase price of its subsidiary, Celanese U.S. Holdings LLC's debt securities. The early tender premium is $30 per $1K principal amount of notes.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 1:28 pm