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U.S. banks are preparing to report their Q3 earnings with a focus on potential economic soft landing, Fed rate cuts, and political risks. Analysts favor regional banks over large money center banks, with key picks including U.S. Bancorp, Western Alliance, and others. Bank of America downgraded Comerica Inc. due to overvaluation concerns.

Portfolio Pulse from Piero Cingari

October 07, 2024 | 8:48 pm

EDUC

Educational Development Corporation (NASDAQ:EDUC) has extended its credit agreement with BOKF, pushing the maturity date to January 4, 2025, and requiring a reduction in the revolving loan to $5.5 million by November 30, 2024. Additionally, EDUC has entered into a contract to sell its headquarters and distribution warehouse, expected to close by January 4, 2025.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 8:03 pm

SPY

In August, US consumer credit increased by $8.93 billion, which is below the estimated rise of $13.45 billion. This indicates a slower growth in consumer borrowing than expected.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 7:04 pm

OMF

Five analysts have recently rated OneMain Holdings (NYSE:OMF), with most being somewhat bullish. The average 12-month price target is $57.2, slightly down from previous estimates. Analysts have adjusted their ratings and price targets, reflecting their views on the company's performance. OneMain Holdings faces challenges with below-industry-average net margin, ROE, and ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

October 07, 2024 | 7:00 pm

SPY

Federal Reserve's Neel Kashkari expressed uncertainty about the neutral Fed funds rate, now seeing it close to 3%. This statement could influence market expectations and interest rate-sensitive assets.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:40 pm

SPY

Neel Kashkari, a Federal Reserve official, expressed a desire to remove barriers to accessing the Fed's discount window, which could impact liquidity and financial stability. This statement may influence market sentiment and investor behavior.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:37 pm

AFCG

AFC Gamma, Inc. (NASDAQ:AFCG) has exceeded its 2024 goal of $100 million in new originations by committing $41 million to a credit facility for Story of Maryland, LLC, a cannabis operator. This move strengthens Story's balance sheet and supports its growth initiatives.

Portfolio Pulse from Jelena Martinovic

October 07, 2024 | 6:14 pm

SPY

Neel Kashkari from the Federal Reserve has indicated that the commercial real estate (CRE) sector, particularly the office segment, may still face challenges. While he does not see systemic risk, there could be stress on specific banks due to office sector CRE issues.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:06 pm

ORMP

SCLX

Scilex Holding Company has announced a $50 million registered convertible financing deal to purchase up to 7.5 million shares of common stock. This move aims to refinance and restructure existing debt, involving affiliates of Murchinson, 3i LP, and Oramed Pharmaceuticals. The financing is expected to close by October 7, 2024, and is part of Scilex's strategy to strengthen its financial profile and support its growth as a non-opioid pain management company.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 1:54 pm

AZZ

AZZ Inc. is set to release its Q2 earnings on October 9, with expectations of $1.32 EPS and $411.8 million in revenue. The company recently completed a term loan B repricing. Analysts have given mixed ratings, with price targets ranging from $89 to $105.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 1:48 pm