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CGC

Canopy Growth (NASDAQ:CGC) (TSX:WEED) shares dropped 19.07% in Friday's pre-market session after the company announced a series of agreements to deleverage its balance sheet. The agreements are expected to reduce the company's total debt by approximately $437 million over the next 6 months and lower annual interest costs by $20 to $30 million. The company will also preserve approximately $92 million in cash and reduce $100 million of principal indebtedness under the credit facility.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 12:49 pm

LVO

LiveOne (NASDAQ:LVO) has increased its stock repurchase program from $5M to $7.5M and entered into a non-binding Letter of Intent for a new $12.5M credit line. The company has repurchased 2.9 million shares since the start of its buyback program in April 2022. The new credit line and stock buyback are aimed at pursuing major acquisitions, strengthening the balance sheet, and fueling internal growth.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:45 pm

WFC

Wells Fargo reported Q2 EPS of $1.25, beating the consensus of $1.15, with revenues of $20.53 billion, up 21% Y/Y. The company's profit surged 57% to $4.9 billion due to higher interest rates. The net interest income climbed 29% to $13.16 billion. Consumer and small business banking saw earnings of $6.6 billion, up 19% from last year. The company set aside $1.71 billion in provisions for credit losses in Q2, compared with $580 million a year ago. WFC shares are up 3.80% at $45.33 during the premarket session.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 12:40 pm

JPM

KBE

KRE

XLF

JPMorgan Chase's CFO has stated that the company expects its net interest income run rate to be substantially lower in the future. However, he also suggested that the banking industry has passed the worst of the recent crisis.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 12:28 pm

JPM

JPMorgan's CFO has announced that the company expects its net interest income run rate to be substantially lower in the future.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:14 pm

SLM

SOFI

SPY

The Biden administration has forgiven $39 billion in student debt for over 800,000 borrowers. This move could impact the revenues of student loan companies like SLM Corp and SoFi Technologies.

Portfolio Pulse from Charles Gross

July 14, 2023 | 11:07 am

AFLYY

APO

Air France-KLM has secured a €500 million financing deal with Apollo Global Management for its engineering and maintenance units. The deal is expected to strengthen the airline's financial position and support its operations.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 7:38 am

SDRL

Seadrill has increased its proposed offering of 8.375% senior secured second lien notes due 2030 from $450M to $500M.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 6:41 am

BTCUSD

ETHUSD

FTX Debtors have launched an online claims portal for customers, according to Reuters. The portal will allow customers to file claims related to their investments in cryptocurrencies such as Bitcoin (BTCUSD) and Ethereum (ETHUSD).

Portfolio Pulse from Charles Gross

July 13, 2023 | 9:08 pm

YUM

Yum Brands Inc. (NYSE:YUM) has seen its shares fall by 1.18% over the past three months. The company's financial statement as of May 9, 2023, reveals a total debt of $11.75 billion, adjusted for $349.00 million in cash-equivalents, resulting in a net debt of $11.40 billion. The debt-ratio, considering Yum Brands's $5.75 billion in total assets, is at 2.04, indicating a large portion of debt is funded by assets.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 8:45 pm