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GWAV

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) shares are trading lower after a 1-for-150 reverse stock split. The split reduced the number of shares from approximately 1.13 billion to 7.55 million. The company aims to increase its per-share price to meet Nasdaq's listing requirements. Additionally, Greenwave has retired all convertible debt and preferred shares, eliminating $35.2 million in debt since early 2024.

Portfolio Pulse from Erica Kollmann

June 03, 2024 | 6:37 pm

PNW

Pinnacle West Capital shares are trading lower following the announcement of a proposed $450 million offering of convertible senior notes due 2027, intended for debt repayment.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 5:23 pm

TLT

UUP

U.S. manufacturing activity contracted more than expected in May, leading to a decline in Treasury yields and a weakening of the U.S. dollar. The iShares 20+ Year Treasury Bond ETF (TLT) rallied by 0.9%, while the Invesco DB USD Index Bullish Fund ETF (UUP) fell by 0.4%. Traders increased their bets on a September rate cut.

Portfolio Pulse from Piero Cingari

June 03, 2024 | 3:50 pm

SPWR

SunPower Corp (NASDAQ:SPWR) shares are trading higher after the company announced a $50 million draw from its second lien term loan to support business operations. The company also issued warrants to Sol Holding and is working to finalize its restated financial filings.

Portfolio Pulse from Adam Eckert

June 03, 2024 | 2:59 pm

SPWR

SunPower has drawn upon a $50 million second tranche of a $175 million second lien term loan from Sol Holding. This move is part of their ongoing financial strategy.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 1:09 pm

FYBR

Frontier Communications Parent, Inc. (NASDAQ:FYBR) plans to offer $750 million in secured fiber network revenue term notes, with repayment anticipated in May 2031. The proceeds will be used to repay existing debt and for general corporate purposes, including investments in fiber expansion and copper migration strategies.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 12:29 pm

VVX

V2X has repriced and extended its $907 million first lien term loan to December 2030.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 12:24 pm

PNW

Pinnacle West Capital Corp. (NYSE:PNW) announced a proposed offering of $450 million in convertible senior notes due 2027. The proceeds will be used for general corporate purposes, including debt repayment, working capital, and investments in its subsidiary, Arizona Public Service Company.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 10:52 am

TIP

Former Treasury Secretary Larry Summers warns that Donald Trump's re-election could lead to significant inflationary pressures, potentially pushing mortgage rates above 10%. Summers criticizes Trump's economic policies, which include compromising the Federal Reserve's independence, enlarging the federal budget deficit, raising tariffs, and restricting immigration. The iShares TIPS Bond ETF (NYSE:TIP) saw a rise in premarket trading amid these inflation concerns.

Portfolio Pulse from Shanthi Rexaline

June 03, 2024 | 9:48 am

MCHP

Microchip Technology has entered into an agreement to issue and sell $1.1 billion in aggregate principal amount of 0.75% convertible senior notes due 2030.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 8:23 pm