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FDX

SPY

UPS

FedEx announced it will terminate its domestic transportation services for the USPS by September 29, 2024, due to the inability to reach a contract extension. This decision may impact FedEx's operations and financial performance.

Portfolio Pulse from Charles Gross

April 01, 2024 | 11:42 am

EARN

Ellington Residential Mortgage REIT (EARN) has announced a strategic shift to focus on Corporate Collateralized Loan Obligations (CLOs), planning to expand its $44M CLO portfolio with a focus on secondary CLO mezzanine debt and equity tranches.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:37 am

VTLE

Vital Energy, Inc. (VTLE) plans to offer $100 million in 7.875% senior notes due 2032 in a private placement. The proceeds are intended for repaying or repurchasing debt, including cash tender offers for its 10.125% senior notes due 2028 and 9.750% senior notes due 2030, or for general corporate purposes. The notes will be guaranteed by Vital Midstream Services, LLC and certain future subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:36 am

GUTS

Fractyl Laboratories announced that its current cash reserves, totaling $33.2 million, along with approximately $100.3 million expected from IPO proceeds, will extend its cash runway through 2025. This financial stability is crucial for the company's ongoing and future operations.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:25 am

HPQ

MEI

XRX

Wall Street's most accurate analysts have provided their views on three high-dividend yielding tech stocks: Xerox Holdings Corporation (XRX), Methode Electronics, Inc. (MEI), and HP Inc. (HPQ). XRX has seen a full exercise of its over-allotment option for convertible senior notes and a series of financing transactions. MEI reported worse-than-expected Q3 financial results and suspended guidance. HPQ reported worse-than-expected Q1 sales results. Analyst ratings and price targets have been updated for these stocks.

Portfolio Pulse from Avi Kapoor

April 01, 2024 | 11:17 am

MITQ

Moving iMage Technologies (MITQ) has launched a new stock repurchase program, authorizing the repurchase of up to $363,000 worth of shares by June 30, 2024. This program replaces the previous $1.0 million share repurchase program that expired on March 23, 2024. Under the previous program, MITQ repurchased approximately 6.3% of its total shares outstanding for $637,000. The company has also established a 10b5-1 stock trading plan to facilitate repurchases during blackout periods, effectively increasing the annual repurchase window from 90 to 250 days.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:10 am

GES

Guess? Inc. has seen its shares trading higher following the announcement that its board has authorized a new $200 million share repurchase program. This move indicates the company's confidence in its financial health and future prospects, potentially signaling to investors that the stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:09 am

GES

Guess? Inc. has issued approximately $12.1 million of new 3.75% convertible notes due in 2028 and has retired about $14.6 million of its existing 2.00% convertible notes due in 2024. This financial maneuver is aimed at restructuring the company's debt and potentially improving its financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:09 am

GES

The board of Guess? has authorized a new $200 million share repurchase program, signaling confidence in the company's financial health and future prospects. This move is likely to be viewed positively by investors as it often indicates a belief by the company's management that its stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:08 am

FHN

First Horizon announced the redemption of its 6.10% Fixed to Floating Non-cumulative Perpetual Preferred Stock, Series D, and corresponding Series D Depositary Shares at $25.00 per share. The redemption does not include accrued dividends as the redemption date coincides with a dividend payment date. The regular semi-annual Series D dividend declared in January will be paid on May 1, 2024, to shareholders of record as of April 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:48 am