Streetbeat News

Credit Ratings

AZN

BABA

NVS

QCOM

RTX

SFTBF

UBS

WELL

Several major companies have announced significant developments. Qualcomm has signed a chip supply agreement with Apple, potentially boosting its stock. Vietnam Airlines is nearing a $10 billion deal with Boeing to acquire 50 Boeing 737 Max jets. Welltower has raised its FY23 FFO outlook due to strong capital deployment and senior housing business. Novartis' Sandoz has entered a development and commercialization agreement with Samsung Bioepis. RTX Corp is facing a $3 billion pre-tax charge due to a Pratt & Whitney engine problem. AstraZeneca's CEO, Pascal Soriot, is rumored to be stepping down. Alibaba is undergoing a leadership shakeup in its cloud business. A potential United Auto Workers strike could cost the US economy billions. Apple and Google are facing an antitrust showdown. UBS is planning to cut wealth-management jobs in Asia. Arm Holdings is considering boosting its IPO price.

Portfolio Pulse from Vandana Singh

September 11, 2023 | 2:51 pm

CMA

DKS

KEY

NVDA

The article discusses several key points in the investment world for the week. Jerome Powell's hawkish stance on inflation control and potential rate hikes is noted. S&P downgrades of several banks, including KeyCorp and Comerica, are mentioned. Nvidia's strong quarterly performance is highlighted, despite a slight stock decline. The concept of R-star, the 'natural' interest rate, is explained. Finally, the article discusses the impact of theft on retail companies like Dick's Sporting Goods.

Portfolio Pulse from Gary Brode

August 30, 2023 | 4:11 pm

EFSH

1847 Holdings LLC (NYSE:EFSH) has announced its plans to acquire a premier consumer products company with revenues exceeding $20M and positive EBITDA in 2022. The acquisition will be funded without issuing any common stock or dilutive equity and is expected to be completed by Q3 2023. Egan-Jones has affirmed a BBB+ rating on 1847's senior credit facility. The company also plans to restructure its outstanding convertible notes and expects to resume dividends and repurchase stock in the future.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:36 pm

AMZN

BBY

CTLT

ELF

GOOG

INTC

META

MMM

MSFT

NIO

China is taking measures to shield its economy from the real estate sector crisis by reducing bank deposit and mortgage rates. President Biden targets cancer and diabetes drugs in a controversial Medicare price battle. Google collaborates with Nvidia in AI expansion. 3M Co settles a multi-billion dollar lawsuit. Catalent Inc finalizes a deal with Elliott Investment Management and reports mixed Q4 earnings. e.l.f. Beauty acquires Naturium skincare brand. Intel Corp eyes a next-generation data center chip. Meta Platforms Inc tackles China-linked disinformation surge. Microsoft's president cautions against weaponizing AI. Amazon raises its free shipping minimum for non-Prime customers. Google ventures into renewable energy mapping. Nio Inc and Best Buy Co Inc report their Q2 results.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 2:06 pm

BTCUSD

ENVA

JPM

The article discusses five key points for investors this week. The Federal Reserve is likely to raise interest rates due to inflation and a tight labor market. Retail sales continue to rise, indicating strong consumer spending. Large asset management firms are seeking approval for Bitcoin ETFs, potentially driving up Bitcoin's price. Ratings agency Fitch may downgrade big banks like JP Morgan and Citigroup. Lastly, Mercedes has disconnected Russian customers from its software, raising concerns about the vulnerability of connected cars.

Portfolio Pulse from Gary Brode

August 25, 2023 | 4:15 pm

LTH

Life Time Group Holdings Inc (NYSE:LTH) has had its issuer credit rating upgraded to B2 from B3 by Moody's Investor Service, citing improving performance, membership, revenue and EBITDA trends, and steps taken to improve its balance sheet and reduce leverage. The company also closed a sale-leaseback transaction for approximately $45 million in gross proceeds. However, LTH shares are trading lower by 1.72% at $16.59.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 4:10 pm

LTH

Moody's Investor Service has upgraded Life Time's issuer credit rating from 'B3' to 'B2'. The upgrade is due to the company's improving performance and steps it is taking to improve its balance sheet and reduce leverage.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 10:59 am

LTH

Life Time Group Holdings (LTH) has had its issuer credit rating upgraded to 'B2' from 'B3' by Moody's Investor Service, citing improving performance and balance sheet improvements. The company also closed a sale-leaseback transaction for $45 million, completing all of the $123 million of previously announced sale-leaseback transactions through August 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 10:49 am

BCHUSD

BTCUSD

Bitcoin Cash (BCH) has fallen 6.5% to $193.23 over the past week due to overall market weakness following weak economic data from China and potential downgrades in the banking sector. The perception of traditional financial systems as riskier might prompt investors to seek refuge in more established and regulated financial assets, reducing demand for Bitcoin Cash. Negative developments in the banking sector can also impact market confidence and reduce the adoption of cryptocurrencies.

Portfolio Pulse from Henry Khederian

August 24, 2023 | 12:03 am

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has fallen 13.5% over the past week due to overall market weakness following weak economic data from China and potential downgrades in the banking sector. However, it has regained some ground following an announcement by Shibarium, Shiba Inu’s Layer-2 network, about the upcoming relaunch of its improved network.

Portfolio Pulse from Henry Khederian

August 23, 2023 | 11:16 pm