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Bank of America, Citigroup, Wells Fargo, JPMorgan Chase, and Morgan Stanley all reported Q2 earnings that largely beat estimates, driven by higher net interest income due to increased interest rates. However, the market response was muted, and all banks increased their provisions for anticipated losses, indicating a cautious outlook.

Portfolio Pulse from Upwallstreet

July 18, 2023 | 6:20 pm

UPS

United Parcel Service Inc. (NYSE:UPS) has seen its shares move lower by 5.84% in the past three months. The company's total debt stands at $22.19 billion, with $19.86 billion in long-term debt and $2.33 billion in current debt. After adjusting for $6.19 billion in cash-equivalents, the net debt is $16.00 billion. The company's debt-ratio is 0.31, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:00 pm

UUP

The June Retail Sales Report has sparked varying interpretations among economists, with some noting a cooling off of consumer activity and others highlighting the third consecutive month of positive retail spending. Industrial and manufacturing production contracted in June, while traders expect a 0.25% interest rate increase by the Federal Reserve. The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), rose by 0.1%.

Portfolio Pulse from Piero Cingari

July 18, 2023 | 5:38 pm

YELL

The Central States Board of Trustees has suspended health care benefits and ceased pension accruals for Yellow Corp. workers after the company failed to fulfill its financial obligations. Yellow Corp. owes Central States $50 million, a payment it missed and must make by July 23 to avoid a work stoppage. Teamsters are preparing for a possible strike as early as July 24.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 4:37 pm

TCNNF

Trulieve Cannabis Corp. (OTC:TCNNF) has filed a lawsuit against Harvest of Ohio and Harvest Grows, seeking to reclaim $23.8 million in unpaid loans and other fees. The lawsuit alleges that the Ohio-based cannabis operators have not been negotiating in good faith to repay the debt. This follows Trulieve's billion-dollar merger with Harvest Health & Recreation Inc in October 2021, which required Trulieve to continue financially assisting the Ohio Harvest companies.

Portfolio Pulse from Jelena Martinovic

July 18, 2023 | 3:08 pm

MS

SPY

Morgan Stanley's CEO, Gorman, has stated that it's difficult to argue for more rate increases and he doesn't foresee any rate cuts happening this year.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 2:58 pm

LHX

L3Harris Technologies Inc. (NYSE:LHX) has a total debt of $9.03 billion, with $8.22 billion in long-term debt and $813.00 million in current debt. After adjusting for $545.00 million in cash-equivalents, the company's net debt stands at $8.49 billion. The company's debt-ratio is 0.25, indicating a moderate level of financial leverage. Debt is an important factor in a company's capital structure and can help it attain growth.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 1:00 pm

SCHW

Schwab has announced that it expects to face a one-time special assessment of $160M from the Federal Deposit Insurance Corporation (FDIC) later this year.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 12:59 pm

AVTBF

Avant Brands Inc reported a 96% YoY increase in Q2 FY23 net revenue, reaching CA$8 million ($6 million). The company also saw a 294% increase in gross profit and a positive shift in adjusted EBITDA. Avant completed the closing of a CA$3.5 million credit facility, secured by the company's non-operational and non-licensed real property. The company is also facing a claim from Desjardins Securities Inc. for alleged damages of approximately CA$1 million for breach of contract.

Portfolio Pulse from Vuk Zdinjak

July 18, 2023 | 12:20 pm

SEVN

Seven Hills Realty Trust (NASDAQ:SEVN) has closed a $27.5 million first mortgage floating rate bridge loan to finance the acquisition of Woodfield Commerce Center, an industrial warehouse building in South Carolina. An initial advance of $24.3 million was funded at closing with future advances of up to $3.2 million available for capital expenditures. The loan is structured with a two-year initial term with a one-year extension option. The transaction was advised by Medalist Capital and the sponsor is Lightstone Group, a repeat borrower of SEVN.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 12:13 pm