Streetbeat News

Credit

DIA

IWM

QQQ

SPY

Major indices are lower due to Fed Chair Powell's comments on inflationary pressures and expected rate hikes, weak guidance from FedEx, and a selloff in tech stocks.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 2:26 pm

CS

UBS

UBS is set to begin job cuts in its Asia investment banking division in July, according to Reuters. The move comes as part of the bank's ongoing efforts to streamline operations and reduce costs.

Portfolio Pulse from Charles Gross

June 21, 2023 | 10:45 am

CBRE

CBRE Group has priced a $1 billion senior notes offering due in 2034 at 98.174% of face value with a 5.950% interest rate. The company expects to settle the note on June 23, 2023, and plans to use the proceeds for debt repayments and other corporate purposes.

Portfolio Pulse from Lekha Gupta

June 21, 2023 | 9:45 am

AHI

Advanced Health Intelligence Ltd (AHI) has redeemed A$1.75 million of Convertible Notes issued on 28 April 2023, paying an early repayment fee of 10% plus interest. A$225,460 of Convertible Notes remain outstanding. The company does not intend to pursue further issues of Convertible Notes at this stage.

Portfolio Pulse from Charles Gross

June 21, 2023 | 9:12 am

CBRE

CBRE Group has priced a $1 billion senior notes offering, intending to use the net proceeds for general corporate purposes, including the repayment of outstanding indebtedness.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 10:01 pm

DIS

Disney shares are trading lower by 1.55% to $89.90, possibly due to the broader market reacting to last week's Fed decision. The Fed paused rate hikes but indicated two more 25-bps hikes this year. Interest rates affect consumer borrowing costs, which can impact spending on Disney's entertainment and leisure activities.

Portfolio Pulse from Henry Khederian

June 20, 2023 | 3:36 pm

CHPT

ChargePoint Holdings Inc (CHPT) shares are trading lower by 5.07% despite no company-specific news. The stock may be affected by the broader market as investors weigh the Fed's recent decision to pause rate hikes. The pause in rate hikes could lead to a more favorable borrowing environment for companies like ChargePoint.

Portfolio Pulse from Henry Khederian

June 20, 2023 | 2:42 pm

KKR

PYPL

PayPal and KKR sign a multi-year €3 billion replenishing loan commitment to accelerate BNPL loan originations in Europe. KKR's private credit funds will purchase up to €40 billion of BNPL loan receivables originated by PayPal. The deal is expected to generate an initial $1.8 billion in cash for PayPal.

Portfolio Pulse from Akanksha Bakshi

June 20, 2023 | 2:19 pm

SPY

Fed Chair Jerome Powell is set to testify before Congress after the Federal Reserve paused interest rate hikes. The hearings will address the Fed's recent actions and policy decisions, including the impact of the failures of Silicon Valley Bank and Signature Bank.

Portfolio Pulse from Piero Cingari

June 20, 2023 | 1:42 pm

BABA

DB

EADSY

GOOGL

GRAB

HYMTF

NVDA

SPOT

Spotify plans to launch a more expensive subscription plan called 'Supremium' with high-fidelity audio. Grab Holdings plans to cut its workforce by 5%. Deutsche Bank applies for a digital asset custody license. Google is in talks with Indian suppliers to assemble Pixel smartphones. Chinese vendors bypass the US embargo to supply Nvidia AI chips. Alibaba names Eddie Wu as its new CEO. Hyundai unveils an $85B investment plan for EVs. Airbus confirms a 500 A320 aircraft order from IndiGo.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 1:07 pm