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SPGI

S&P Global Inc.'s shares have risen by 22.22% over the past three months. The company's total debt stands at $11.66 billion, with $10.73 billion in long-term debt and $936.00 million in current debt. After adjusting for $1.40 billion in cash-equivalents, the net debt is $10.26 billion. The company's debt-ratio is 0.19, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 3:45 pm

KEY

KeyCorp (NYSE:KEY) reported Q2 revenues of $1.595 billion, down 11% YoY, missing estimates of $1.63 billion. EPS of $0.27 also missed the Street view of $0.31. Provision for credit losses jumped 271% to $167 million due to changes in the economic outlook and portfolio activity. Average deposits totaled $142.9 billion, a decrease of 3.1% YoY due to elevated inflation-related spending, changing client behavior due to higher interest rates, and normalization of pandemic-related deposits.

Portfolio Pulse from Nabaparna Bhattacharya

July 20, 2023 | 3:11 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) has announced preliminary financial results for Q2 2023, ahead of its actual results announcement on August 3, 2023. The company expects Q2 EPS of $0.61, beating the estimated $0.48, and revenue of $1.67B, slightly above the estimated $1.64B. The company also reported $100M of cash and $3.75B of indebtedness on its balance sheet. The company is currently in discussions with lenders regarding refinancing of its outstanding debt.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 3:02 pm

VSEC

VSE Corporation (NASDAQ:VSEC) has priced its public offering of 2.47 million shares at $48.50 per share, an 11% discount to the company’s closing price on July 19. The company plans to use the $112.7 million net proceeds to repay outstanding borrowings and for general corporate purposes. The offering is expected to close on July 24, 2023. VSEC shares are currently trading lower by 7.08% at $50.56.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 2:16 pm

FCX

Freeport-McMoRan Inc (NYSE:FCX) reported Q2 2023 revenue of $5.74 billion, beating the consensus of $5.54 billion. However, copper sales were down 5% Y/Y due to shipping delays in Indonesia. The company's total debt as of June 30 was $9.5 billion. FCX shares are trading lower by 4.26% at $39.60.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 1:58 pm

DB

The Federal Reserve has fined Deutsche Bank (NYSE:DB) and its U.S. affiliates $186 million due to their failure to adequately address issues related to money laundering controls and other deficiencies. This new penalty adds to the challenges faced by the German bank that has struggled to establish a solid footing with regulators in Europe and the U.S. The bank was also ordered to improve its risk and data management practices.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:29 pm

FYBR

Frontier Communications Parent Inc (NASDAQ:FYBR) plans to offer approximately $1.05 billion of secured fiber network revenue term notes. The bonds will be secured by Frontier's fiber assets and customer contracts in the Dallas area. The proceeds will be used to pay existing debt and for general corporate purposes. This follows Frontier's bankruptcy filing in April 2020 and a $1 billion junk bond offering in 2021.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 1:10 pm

FERG

Ferguson Inc.'s shares have risen by 16.80% over the past three months. The company's total debt stands at $3.89 billion, with $3.84 billion in long-term debt and $55 million in current debt. After adjusting for $625 million in cash-equivalents, the net debt is $3.27 billion. The company's debt-ratio is 0.25, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 1:00 pm

PGY

Pagaya has announced an asset-backed security (ABS) worth approximately $800 million, bringing its total raised this year to $3.9 billion. This is the first PAID transaction to achieve an AA-rating. To date, Pagaya has raised over $17 billion in ABS funding, making it the leading issuer of personal loan ABS transactions in the U.S.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 12:40 pm

CVNA

Carvana Co. (NYSE:CVNA) shares surged 40% after reporting better-than-expected Q2 sales and positive adjusted EBITDA guidance for Q3. The company also agreed with noteholders to reduce total debt, extend maturities, and lower near-term cash interest expense. Traders expect Carvana's shares to continue to rally.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:23 pm