Streetbeat News

Credit

SPY

Federal Reserve's Loretta Mester stated that she hasn't decided yet on the need for a July rate hike and requires more data. She also mentioned that the outlook for the terminal Fed funds rate matches, or is just above, the June Fed median forecast.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 5:04 pm

RTX

Raytheon Technologies Inc. (NYSE:RTX) has seen its shares decrease by 4.02% in the past three months. The company's total debt stands at $34.49 billion, with net debt at $28.59 billion after adjusting for cash-equivalents. The company's debt-ratio is 0.21, indicating a moderate level of financial leverage. Debt is an important factor in a company's capital structure and can contribute to growth, but also carries risks such as potential default if interest rates increase.

Portfolio Pulse from Benzinga Insights

July 10, 2023 | 4:45 pm

SPY

Federal Reserve's Mary Daly has stated that community banks are tightening their lending standards more than big and regional banks, although it's difficult to quantify the extent of this tightening. The news was reported by Reuters.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:51 pm

SPY

Federal Reserve's Mary Daly has stated that credit shocks often have a lag and could still be seen in the upcoming months. This suggests potential instability in the financial markets.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:50 pm

SPY

Federal Reserve's Daly has stated that the credit tightening from banking stresses in March is likely less than the quarter-point to 50 basis points rate hike that was previously anticipated.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:49 pm

KODK

Eastman Kodak Co (KODK) shares are trading higher by 2.15% on above-average volume, possibly due to continued momentum after the company and its subsidiaries announced a Term Loan Amendment. The amendment involves the company, Term Loan Lenders affiliated with Kennedy Lewis Investment Management LLC and Alter Domus (U.S.) LLC. The Refinancing Term Loan Lenders have committed to providing the company with $450 million in term loans, expected to be funded by July 21. The funds will be used for various purposes, including refinancing existing loans, repaying credit facility commitments, and meeting general corporate and working capital needs.

Portfolio Pulse from Henry Khederian

July 10, 2023 | 3:46 pm

SIVB

SPY

San Francisco Federal Reserve President Mary Daly has denied allegations that Federal Reserve supervisors were lenient on Silicon Valley Bank (SVB) because its CEO was on the SF Fed's Board of Directors. She clarified that supervisory issues are never discussed at SF Fed board meetings.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:43 pm

ACB

CGC

TLRY

Senate Majority Leader Chuck Schumer has stated that passing a marijuana banking bill is a priority for the upcoming summer work session, but it will require GOP support to advance. The bill, known as the Secure and Fair Enforcement (SAFE) Banking Act, aims to protect banks and credit unions from being penalized by federal regulators for working with state-licensed cannabis businesses. However, the bill's passage is not guaranteed, with key GOP members having previously posed obstacles to the reform. The bill has yet to be scheduled for a committee markup, but lawmakers from both sides of the aisle are signaling that the votes are there for passage, provided there are no major contentions or hiccups along the way.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:27 pm

SPY

Federal Reserve's Mary Daly stated that it's too early to declare victory on balancing demand with supply. The Fed may end up doing less or more than a couple of rate hikes this year, depending on the data.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:22 pm

SPY

Federal Reserve's Mary Daly has stated that the risk of doing too little in terms of interest rates outweighs the risk of doing too much. This suggests a potential inclination towards maintaining or even lowering interest rates.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 3:17 pm