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Search resuls for: "deleverage"


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☆ Instant View: India's Adani calls off $2.5 bln share sale
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +2 min
NEW DELHI, Feb 1 (Reuters) - India's Adani Enterprises (ADEL.NS) on Wednesday called off its $2.5 billion share sale, citing market conditions, a week after a U.S. short-seller's critical report unleashed a rout in the wider Adani Group's stocks. COMMENTARYDEVEN CHOKSEY, MANAGING DIRECTOR, KR CHOKSEY SHARES AND SECURITIES"In the given situation, when the entire environment has become negative, it is good that the share sale is withdrawn. GURMEET CHADHA, CHIEF INVESTMENT OFFICER AND MANAGEMENT PARTNER OF COMPLETE CIRCLE WEALTH"It was the right thing to do. It must have been a hard decision but it was the right thing to do. To go through this exercise of a share sale and to call it off raises more questions."
☆ How Scripps News, the streaming and broadcast network formerly known as Newsy, is pivoting to anti-partisan, 'fact-based' reporting
  + stars: | 2023-01-19 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +9 min
Streaming and broadcast news network Newsy has been rebranded as Scripps News. The network formerly known as Newsy has a presence on TV stations owned by Scripps and its ION Media stations and is accessible via free over-the-air digital antenna and several streaming platforms — including Roku, Amazon Fire and Apple TV. The company, which pulled Newsy from cable packages in 2021, boasts that Scripps News offers the only free 24/7 national news broadcast. Scripps News is also absorbing scores of executives from a national desk that fed the company's 61 local stations. Its local stations pulled in $208 million in ad revenue thanks to the midterm elections.
☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Rivian, Target, Microsoft, Etsy & more
  + stars: | 2023-01-04 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Here are the biggest calls on Wall Street on Monday: UBS downgrades Microsoft to neutral from buy UBS said in its downgrade of the stock that it's concerned about Microsoft Office risks. Wells Fargo downgrades Target to equal weight from overweight Wells said in its downgrade of the stock that it sees too much 2023 uncertainty. " UBS downgrades JB Hunt to neutral from buy UBS said in its downgrade of the shipping company that it sees volume and pricing risk. UBS downgrades Honeywell to sell from buy UBS said in its downgrade of the stock that the multiple is "inflated." UBS reiterates Amazon as buy UBS lowered its price target on the e-commerce giant to $125 per share from $165 but says it's standing by the stock.
☆ No more Newsy: The streaming and broadcast network rebrands as Scripps News under Warren Buffett-backed E.W. Scripps
  + stars: | 2022-12-31 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +9 min
Streaming and broadcast news network Newsy is being scrapped and rebranded as Scripps News. Parent company E.W. Bellini is a San Francisco-based reporter for Newsy, the 14-year-old streaming news platform owned by E.W. Scripps News is also absorbing scores of executives from a national desk that fed the company's 61 local stations. Its local stations pulled in $208 million in ad revenue thanks to the midterm elections.
☆ AMC shares hit 52-week low as recent moves and gimmicks fail to win over investors
  + stars: | 2022-12-28 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +4 min
The AMC 25 Theatres in Times Square in New York is seen on Tuesday, July 8, 2014. Shares of AMC have fallen more than 85% so far this year, closing at $3.84 a share on Wednesday. Branded credit cards and a pay freeze for its CEO have done little to assuage AMC Entertainment shareholders' growing concerns, as the movie theater chain's stock hit a fresh 52-week low Wednesday. Antara will also exchange $100 million of AMC notes for 91 million APE units, which would reduce AMC's annual interest expense by about $10 million. "All it's saying right now is that the shares are still overvalued by quite a lot.
☆ Japan's Seven & i to sell Sogo & Seibu unit to U.S. fund Fortress
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, Nov 11 (Reuters) - Japan's Seven & i Holdings Co Ltd (3382.T) said on Friday it will sell its Sogo & Seibu department store unit to U.S. fund Fortress Investment Group. The transfer price will be based on 250 billion yen ($1.77 billion) in enterprise value for Sogo & Seibu, adjusted by net debt and working capital, Seven & i said in a release. Electronics retailer Yodobashi Holdings will be a partner in the deal with Fortress, which is controlled by Japan's SoftBank Group Corp (9984.T). Yodobashi is expected to set up outlets within Sogo & Seibu locations, the Nikkei newspaper reported earlier this week. Seven & i shares rose 0.3% in Tokyo trading compared with a 3% jump in the benchmark Nikkei (.N225) index.
☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Meta, Alphabet, GM, Walmart, Coinbase & more
  + stars: | 2022-11-10 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Here are Thursday's biggest calls on Wall Street: JPMorgan downgrades Roblox to neutral from overweight JPMorgan downgraded the stock after Roblox's earnings report, noting it now sees "modest" sales growth. Bank of America downgrades Silvergate to neutral from buy Bank of America said that Silvergate is losing it's first mover advantage. Bank of America downgrades Upstart to underperform from neutral Bank of America downgraded the consumer lending company and cited a tough macro environment. JPMorgan downgrades Vacasa to neutral from overweight JPMorgan said in its downgrade of the vacation booking company that trends appear soft. Bank of America reiterates Meta as neutral Bank of America said it's encouraged by the new "cost focus" at Meta as the company cuts jobs.
☆ Kroger Pauses Buybacks to Prioritize Debt Reduction After Albertsons Deal Closes
  + stars: | 2022-10-14 | by ( Kristin Broughton | ) www.wsj.com   time to read: +4 min
The blockbuster transaction comes amid a slowdown in deal making, economic uncertainty and concerns among investors about companies that carry high levels of debt. Cincinnati-based Kroger said Friday that it will pay for the $24.6 billion deal with cash and proceeds from a new debt financing. The company secured a 364-day, $17.4 billion bridge loan from Citigroup Inc. and Wells Fargo & Co., it said in a securities filing. Kroger will temporarily pause buybacks with the goal of giving priority to debt reduction after the transaction closes, the company said Friday. The company on Friday didn’t say what its leverage ratio will be after the transaction closes.
☆ Analysis: Chinese property developers on tenterhooks ahead of Communist Party Congress
  + stars: | 2022-10-14 | by ( Clare Jim | ) www.reuters.com   time to read: +7 min
HONG KONG, Oct 14 (Reuters) - Chinese real estate developers are delaying their debt restructuring moves until after the upcoming Communist Party Congress, hoping the crucial gathering offers clues on how Beijing plans to stabilise the embattled sector. Smaller peers, which have done bond exchanges to extend the maturities of their debt, are also considering restructuring, the developers told Reuters. China's gigantic real estate debt China's gigantic real estate debtChina's twice-a-decade party congress kicks off on Oct. 16, during which President Xi Jinping is poised to secure a precedent-breaking third leadership term as general secretary. Echoing that apprehension ahead of the party congress, some fund managers and brokers have been told to avoid big share sales, two sources told Reuters. For some stakeholders, the stalling of the debt restructuring ahead of the party congress is frustrating.
☆ India renewables push gets lift from patient money
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, Sept 19 (Reuters Breakingviews) - As global borrowing costs rise, patient foreign investors are stepping up to help tycoons recycle capital and speed India’s energy transition. The wider deal will help the unit of $19 billion Mahindra and Mahindra (MAHM.NS) repay a shareholder loan as Indian businesses deleverage en masse. In April, Tata Power (TTPW.NS) struck a deal with BlackRock (BLK.N) and Abu Dhabi’s Mubadala. Register now for FREE unlimited access to Reuters.com RegisterSimilar tie-ups helped renewables power 60% of India’s energy capacity additions in the past six years, according to Moody’s. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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