Streetbeat News

Credit

BURU

NUBURU, Inc. has terminated its Equity Line of Credit with Lincoln Park and transitioned to a new ELOC with Liqueous, aiming to support its commercialization efforts.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 1:08 pm

JPM

JP Morgan's CFO announced that credit card charge-offs have normalized, though a slight increase may occur. Deposit margins have not yet normalized, and the bank has been over-earning on deposit margins and credit, but is on a path to normalization.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 12:29 pm

JPM

JPMorgan Chase's CEO, Jamie Dimon, discussed the potential impact of geopolitics on the economy, while the CFO noted the strong position of US consumers. The bank has increased loan loss provisions in anticipation of normalizing credit quality and expanded lending. Despite a rise in mortgage applications and refinancing following a Fed rate cut, the bank sees limited opportunities for capital deployment.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 12:27 pm

PSNY

Polestar, in collaboration with Geely, is in constructive discussions with club loan lenders, considering market conditions and expected performance in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 11:38 am

BERY

GLT

Berry Global and Glatfelter have increased their senior secured notes offering to $800 million ahead of their strategic merger into Magnera. This reflects a $300 million increase from the previously announced $500 million offering.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:55 am

EC

Ecopetrol is making a $500M partial prepayment on its 2030 loan using funds from a $250M credit with Sumitomo Mitsui Banking Corporation and $250M in cash. This move is part of its strategy to reduce financial expenses and optimize financing.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:29 am

DISH

SATS

EchoStar has launched exchange offers and consent solicitations for DISH Network's convertible senior notes, achieving a key milestone in its balance sheet optimization. Over 90% of DISH's $5 billion convertible notes are now supported by existing stakeholders, satisfying the minimum tender condition.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 6:09 am

CGBD

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) has announced a $300 million public offering of 6.750% unsecured notes due 2030. The proceeds will be used to repay existing debt and fund new investments. The offering is expected to close on October 18, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 8:16 pm

APLD

In the past three months, 10 analysts have rated Applied Digital (NASDAQ:APLD), with a majority being bullish. The average 12-month price target has increased by 6.38% to $10.0. Analysts have adjusted their ratings and price targets, reflecting positive sentiment. Despite strong revenue growth, the company faces challenges with profitability and debt management.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:01 pm

ILMN

In the past three months, 14 analysts have provided ratings for Illumina (NASDAQ:ILMN), with a mix of bullish and indifferent sentiments. The average 12-month price target is $166.5, slightly down from the previous $166.67. Illumina faces financial challenges, including a revenue decline and high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:00 pm