Streetbeat News

Credit

AVTBF

DBCCF

HITI

ROMJF

The article discusses the valuation and credit of eighteen U.S. and Canadian cannabis companies with market caps between $20M and $100M. Five of the top-ranked companies by credit quality are Canadian. Avant Brands (OTC:AVTBF), Rubicon Organics (OTC:ROMJF), High Tide (NASDAQ:HITI), and Decibel Cannabis (OTC:DBCCF) are highlighted for their credit quality, liquidity, and leverage. The article suggests that these companies may be good investment opportunities.

Portfolio Pulse from Viridian Capital Advisors

July 24, 2023 | 4:44 pm

SPY

The market is fully expecting a 25bps rate hike by the Federal Reserve this week. The market's reaction will depend on the language of the statement and the tone of Jerome Powell. Three scenarios are considered: a dovish hike could see SPY retest 456 (55% probability), a hawkish hike could see SPY drop below 443 (35% probability), and a slim chance (10% probability) that the FOMC signals the end of the rate hiking cycle, which could see SPX rise 1% - 1.5%.

Portfolio Pulse from John Chang

July 24, 2023 | 4:21 pm

MTD

Mettler-Toledo Intl Inc. (NYSE:MTD) has seen its shares drop by 6.04% over the past three months. The company's financial statement as of May 5, 2023, reveals a total debt of $2.12 billion, adjusted for $89.08 million in cash-equivalents, resulting in a net debt of $2.03 billion. The company's debt-ratio is 0.62, indicating a considerable portion of debt is funded by assets. This could put the company at risk for default if interest rates were to increase.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 4:15 pm

EWL

UBS

UBS has announced that it will reflect the provision in purchase accounting for the acquisition of Credit Suisse. The Federal Reserve and FINMA have imposed remedial requirements relating to credit, liquidity and non-financial risk management, as well as oversight.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 3:56 pm

AMC

APE

EPR

AMC Entertainment Holdings Inc (NYSE:AMC) is seeing its shares and AMC Entertainment Preferred Equity Units (NYSE:APE) highly active in early trading following a court ruling against a company settlement proposal. The proposal would have seen AMC convert its APE preferred equity shares into common shares and enact a reverse stock split at a 10-for-1 ratio. The court ruling could take AMC back to the drawing board. AMC CEO Adam Aron said the company needs to raise capital, especially given the ongoing Hollywood work stoppage and strike. If AMC is unable to raise additional funds, the risk of running out of cash in 2024 or 2025 increases. If AMC continues to struggle, landlords like EPR Properties (NYSE:EPR) could face pressure.

Portfolio Pulse from Chris Katje

July 24, 2023 | 3:07 pm

APPH

AppHarvest, Inc. (NASDAQ:APPH) has filed for Chapter 11 to support a financial and operational transition aimed at reducing its outstanding liabilities. The company has secured a commitment from Equilibrium, its largest secured creditor, to provide approximately $30 million of debtor-in-possession (DIP) financing. AppHarvest is also planning to transition its AppHarvest Berea operations to its distribution partner, Mastronardi Produce, or one of its affiliates, in exchange for approximately $3.75 million in additional funding.

Portfolio Pulse from Erica Kollmann

July 24, 2023 | 3:03 pm

VOYA

Voya Investment Management and the Illinois Bankers Association (IBA) have entered into a partnership to provide a commercial and industrial loan acquisition and risk management program. The program, known as the Voya Senior Loan Advisory Program, aims to help community and regional banking commercial credit professionals build portfolios of senior secured commercial and industrial loans. The program also offers education and mentoring to banks on the implementation and monitoring of compliant portfolios.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:20 pm

WLMS

Williams Industrial Services Group Inc. (WLMS) has filed for Chapter 11 bankruptcy and agreed to sell most of its assets to EnergySolutions for $60 million. The assets include the company's nuclear, fossil, energy delivery, and paper mill operations. EnergySolutions will not acquire the company's water contracts in Florida and Texas. WLMS has also secured up to $19.5 million in debtor-in-possession financing from its existing lenders.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:48 pm

VRCA

Verrica Pharmaceuticals has announced a non-binding term sheet for up to $125 million in debt financing. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 12:45 pm

T

TMUS

VZ

AT&T and Verizon are facing investor skepticism due to issues of toxic lead in their telephone lines and heavy debt loads. Both companies have plans to reduce their debt in the coming years. AT&T's debt increased due to the DirecTV and Time Warner acquisitions, while Verizon's debt load increased after spending a record sum on wireless spectrum licenses. T-Mobile US has avoided the recent selloff as it does not own old landline infrastructure and does not pay dividends. AT&T and Verizon were among the worst-performing stocks in the S&P 500 index in the first half of 2023.

Portfolio Pulse from Anusuya Lahiri

July 24, 2023 | 12:06 pm