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☆ Stocks making the biggest moves midday: Dick's Sporting Goods, Lennar, Robinhood and more
  + stars: | 2024-03-14 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
Dick's Sporting Goods — Shares jumped 14% after the sporting goods retailer posted fourth-quarter results that exceeded expectations. Dick's Sporting Goods reported earnings of $3.85 per share on revenue of $3.88 billion. Analysts surveyed by LSEG, formerly Refinitiv, had expected earnings per share of $3.35 on revenue of $3.80 billion. In its first quarter, Lennar reported revenue of $7.31 billion, weaker than the $7.39 billion expected by analysts polled by LSEG. UiPath — Shares tumbled 7.4% after the enterprise automation company posted revenue guidance that was weaker than expected.
Persons: LSEG ., SentinelOne, LSEG, Robinhood, Wells, Joe Biden, Armour, Kevin Plank, Plank's, Evercore, MicroStrategy, Oprah Winfrey, —, Lisa Kailai Han, Alex Harring, Pia Singh Organizations: Dick's, Dick's Sporting Goods, LSEG, . Steel, U.S, Steel, Nippon Steel Locations: Japanese
☆ Buyout barons feast on excesses of last boom
  + stars: | 2023-07-21 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +7 min
That opens up plenty of potential loopholes which could allow borrowers to keep their old loans even after a deal. Lenders explicitly allow a company’s so-called “permitted holders” - typically its management or long-time investors - to assume responsibility for the debt. For example, one definition of a change of control is where the majority of board seats change hands. That means the company’s debt can stay put, news service 9fin reported. Interest rates for loans provided by private lenders have risen from 6.2% to 11.6% over a similar time frame.
Persons: Clayton, Rice, Breakingviews, 9fin, Cooper’s, Blackstone, Datacenters, Murray, dealmakers, Peter Thal Larsen, Sharon Lam, Streisand Neto Organizations: YORK, Reuters, Partners, P, Reuters Graphics Reuters, Cornerstone, Focus Financial, Stone, Point, Smart, Securities, Exchange, NRG Energy, QTS Realty Trust, Foresight Energy, American Consolidated Natural Resources, Foresight, P Global Market Intelligence, Thomson, & $ Locations: Dubilier, Delaware
☆ SVB Collapse Complicates Banks’ Efforts to Unload More Than $25 Billion of Junk Debt
  + stars: | 2023-04-02 | by ( Alexander Saeedy | Laura Cooper | ) www.wsj.com   time to read: 1 min
Silicon Valley Bank had to sell bonds at a loss. Recent turmoil in the banking industry has made the already-difficult task of selling off tens of billions of risky buyout debt even harder for Wall Street firms. Bank of America Corp., Barclays PLC, Morgan Stanley and others together currently hold $25 billion to $30 billion of “hung debt” on their balance sheets, according to leveraged-finance analytics firm 9fin. The unsold debt is tied to leveraged buyouts that banks agreed to finance before worsening credit conditions last year sapped investor appetite for the paper.
☆ 'I don't lose sleep': Bank of America CEO isn't worried about financing the Twitter deal
  + stars: | 2022-10-28 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +1 min
The CEO of Bank of America , one of the financiers of Elon Musk's Twitter takeover, doesn't appear worried about the deal. In an interview with CNBC on Friday, Bank of America CEO Brian Moynihan, seemed unfazed however. When asked if he would lose sleep over the deal, he said: "I've got experts that handle the clients and I don't lose sleep on them. I lose sleep for a lot of other things, but not for that." When the acquisition closes, the funds will be handed to Musk to finance the deal.
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