Streetbeat News

Credit Ratings

ADI

AMAT

AMD

AMKR

Semiconductor stocks are trading lower due to overall market weakness following Moody's downgrade of multiple banks' credit ratings. This has negatively impacted risk sentiment and put pressure on tech and growth stocks.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 3:22 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) shares have fallen by 2.5% to $62.81 and 16% over the past five sessions following a sequential decline in active accounts and Q2 earnings. The stock is also affected by Moody's downgrade of credit ratings of 10 U.S. banks. Despite this, PayPal reported Q2 earnings of $1.16 per share, beating the analyst consensus estimate of $1.05, and quarterly sales of $6.81 billion, exceeding the analyst consensus estimate of $6.59 billion.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 3:18 pm

SCHW

Shares of Charles Schwab Corporation (SCHW) are trading lower after Moody's cut the credit ratings of 10 banks and placed others under review for potential downgrades. This has led to a broader negative sentiment within the financial sector, impacting all financial institutions, including brokerage firms like Charles Schwab. The downgrade comes amid concerns about rising financing costs, potential weaknesses in regulatory capital, and escalating risks linked with commercial real estate lending.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 2:26 pm

WAL

Shares of Western Alliance Bancorporation (NYSE:WAL) are trading lower after Moody's cut the credit ratings of 10 banks and placed others under review for potential downgrades. The downgrade signals a lower level of financial stability and increased credit risk for the affected banks. Moody’s action comes amid concerns about rising financing costs, possible weaknesses in regulatory capital, and escalating risks linked with commercial real estate lending.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 2:25 pm

BAC

WFC

Shares of Bank of America Corp (BAC) and Wells Fargo & Co (WFC) are trading lower after Moody's cut the credit ratings of 10 banks and placed others under review for potential downgrades. The downgrades can create a negative sentiment across the banking industry, as investors might worry that similar issues could also impact larger banks like BAC and WFC. The concerns are related to rising financing costs, possible weaknesses in regulatory capital, and escalating risks linked with commercial real estate lending.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 2:25 pm

APO

BAC

WFC

Moody's has cut the credit ratings of 10 banks and placed others under review for potential downgrades, leading to a decrease in banking stocks.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 1:54 pm

DIA

IWM

QQQ

SPY

Moody's has downgraded its credit ratings of 10 US banks and placed six others under review for potential downgrades. This has led to a decrease in major indexes.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 1:36 pm

EWA

National Australia Bank's business confidence index for July came in at 2, beating the estimated -1 and improving from the prior -1.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 3:52 am

AYRWF

CCHWF

CURLF

JUSHF

TRUL

VRNOF

Viridian Capital Advisors has released a chart showing credit quality and trading yield for nineteen public U.S. cannabis companies with market caps over $25M. The chart suggests that investors should consider the senior secured cannabis debt market, with stronger credits like Trulieve (OTC:TRUL), Verano (OTC:VRNOF), and Curaleaf (OTC:CURLF) trading between 15% and 16.5%, while weaker credits like AYR (OTC:AYRWF), Columbia Care (OTC:CCHWF), and Jushi (OTC:JUSHF) trade from 20% to 30%. The chart also highlights potential pricing inefficiencies and opportunities for higher risk-adjusted returns in smaller names.

Portfolio Pulse from Viridian Capital Advisors

August 07, 2023 | 4:35 pm

AMD

Advanced Micro Devices, Inc. (AMD) shares are trading higher by 1.7% to $117.80, rebounding after recent weakness due to lower than expected third-quarter guidance and a downgrade of the US's long-term credit rating by Fitch. Morgan Stanley has called the recent selloff a buying opportunity, citing potential growth from the launch of the MI300 data center GPU in Q4 and partnerships in the AI space. AMD's Q2 earnings per share were 58 cents, beating estimates but down 44.76% YoY.

Portfolio Pulse from Henry Khederian

August 07, 2023 | 2:44 pm