Streetbeat News

Credit

PRAA

PRA Group, Inc. has amended and extended its North American and UK Credit Agreements, totaling $2.3 billion, with maturities extended to October 2029. The interest margins remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:32 pm

EOSE

Eos Energy Enterprises, Inc. has achieved the second set of performance milestones related to Cerberus Capital Management's strategic investment, allowing it to draw an additional $65 million from a Delayed Draw Term Loan.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:12 pm

SAVE

Spirit Airlines (NYSE:SAVE) is experiencing stock volatility due to financial challenges, leading to pilot furloughs and asset sales. The company aims to save $80 million annually and generate $225 million in liquidity by selling older aircraft. Spirit faces a December deadline to refinance $1.1 billion in bonds, amid speculation of potential bankruptcy following a failed merger with JetBlue.

Portfolio Pulse from Henry Khederian

October 31, 2024 | 6:43 pm

CNK

Cinemark Holdings Inc. (NASDAQ:CNK) reported strong Q3 2024 earnings, beating analyst expectations with an EPS of $1.19 and sales of $921.8 million. Despite this, shares fell 1.9% to $29.90. The company saw significant revenue from admissions and concessions, and refinanced unsecured notes due in 2026.

Portfolio Pulse from Dylan Berman

October 31, 2024 | 5:39 pm

ROOT

Root, Inc. (NASDAQ:ROOT) shares surged after reporting better-than-expected Q3 earnings, achieving net income profitability for the first time. The company beat EPS and revenue estimates, driven by strategic investments and operational efficiency. Root also refinanced its debt, reducing interest expenses significantly.

Portfolio Pulse from Vaishali Prayag

October 31, 2024 | 5:24 pm

SYTA

SYTAW

Siyata Mobile Inc. has secured a $7 million equity line of credit with Hudson Global Ventures, providing a flexible funding solution that minimizes shareholder dilution and supports growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 3:26 pm

WWW

Analyst reviews for Wolverine World Wide (NYSE:WWW) show mixed sentiments with recent ratings indicating a somewhat bullish outlook. The average 12-month price target has increased by 17.14% to $16.4. Despite challenges in revenue growth and debt management, the company shows strong return on equity.

Portfolio Pulse from Benzinga Insights

October 31, 2024 | 2:00 pm

PCYO

Pure Cycle Corporation has received $10.1 million from the refinancing of Sky Ranch CAB bonds. The funds will be used to repay public improvement reimbursables and interest.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 8:41 pm

QQQ

SPY

The Federal Reserve's preferred inflation measure, the PCE price index, is expected to show a decline in September, reinforcing the disinflationary trend. This could support expectations for continued Fed rate cuts in 2024 and 2025. Market reactions will depend on whether the data meets expectations, with potential positive impacts on stocks and declining bond yields if inflation is controlled.

Portfolio Pulse from Piero Cingari

October 30, 2024 | 8:37 pm

BP

BP's stock price targets have been cut by analysts due to weak earnings and rising debt. BP's Q3 revenue fell short, and analysts expect further challenges without an improved macroeconomic environment. RBC and Goldman Sachs have lowered their price targets, citing lower refining earnings and increased debt.

Portfolio Pulse from Lekha Gupta

October 30, 2024 | 5:52 pm