Bitcoin?s levered play MicroStrategy Inc (MSTR) could face the risk of redemption on its 0% convertible debt upon the occurrence of unforeseen events breaching the covenants governing these notes despite the bonds being an unsecured, senior obligation.
Analysts have updated coverage and raised price targets on Robinhood Markets, Inc. (HOOD) after the company hosted its first investor day on Wednesday and showed significant growth across customers, assets under custody and trading volumes. Expert Ideas: Goldman Sachs analyst James Yaro assumed coverage of Robinhood Markets (HOOD) on Thursday and upgraded the stock from Neutral to Buy with a $46 price target.
Shares of Toast Inc (TOST) added more than 40% in November, after the company reported strong third-quarter results. Although the Boston-based company is among the "best share gainers in the payments space," its stock has risen more than 135% year to date, according to Goldman Sachs. Analyst Will Nance downgraded the rating for Toast from Buy to Neutral, while raising the price target to $45.
Office Properties Income Trust (OPI) stocks are moving higher on Tuesday. What To Know: The company plans to exchange up to $340 million of its $453.6 million of its senior unsecured notes due in 2025. The notes will be exchanged for senior secured notes due in March 2027 with a 3.25% interest rate.
Michael Saylor?s MicroStrategy Inc (MSTR) recently completed its $3 billion offering of 0% convertible senior notes due 2029. What Happened: The sale of the notes was completed in two days as the initial purchasers flocked and exercised the first additional $400 million principal amount on Nov. 20, and the remaining purchase was completed on Nov. 21, 2024.
MicroStrategy Inc. (MSTR) has announced the acquisition of 51,780 Bitcoin for approximately $4.6 billion, with an average price of $88,627 per coin. What Happened: According to the company's SEC filing on Monday, this purchase occurred between Nov. 11and Nov. 17, funded through proceeds from the issuance and sale of shares under its Sales Agreement.
MicroStrategy Inc. (MSTR) has announced the acquisition of 51,780 Bitcoin for approximately $4.6 billion, with an average price of $88,627 per coin. What Happened: According to the company's SEC filing on Monday, this purchase occurred between Nov. 11and Nov. 17, funded through proceeds from the issuance and sale of shares under its Sales Agreement.
Upstart Holdings Inc (UPST) shares are trading lower Tuesday after the company announced a proposed private offering of convertible senior notes. What Happened: After the market close on Monday, Upstart announced that it intends to offer $425 million?of convertible senior notes due 2030 in a private offering to qualified institutional buyers.
Dish Network Corp.?s creditors have rejected the company?s bond exchange offer just ahead of a key deadline, threatening the proposed merger with DirecTV. What Happened: The steering committee of Dish lenders criticized the deal, calling it one of the largest ?engineered at the expense of creditors? in a letter seen by Bloomberg.
We've now entered earnings season. This week, we'll address the following topics: Las Vegas Sands (LVS) got unlucky at the gaming tables. Starbucks?sees same store sales down 7%. That's a big problem. Paul Tudor Jones and Stanley Druckenmiller avoid Treasuries. Michael Gayed of @leadlagreport and I discuss inflation and energy. Active vs passive investing: fight!
Boeing Company (BA) shares are trading higher Wednesday. What To Know: According to Reuters, Boeing (BA) plans to issue around $10 billion in new shares and $5 billion in mandatory convertible bonds, a hybrid bond that converts into equity at a predetermined date. The deal is expected to be priced following Boeing's (BA) third-quarter earnings report on Oct. 23.
Berkshire Hathaway has successfully secured 281.8 billion yen, approximately $1.9 billion, via a yen-denominated bond offering. What Happened: This issuance of Samurai bonds highlights Warren Buffett?s increasing interest in Japan?s financial markets.
Online furniture retailer Wayfair Inc. (W) said on Monday that it is offering $700 million in secured notes to repay some of its debt, joining other companies? run to the debt markets less than a week after the Federal Reserve cut interest rates for the first time in four years.
may pull investors away from money market funds and into longer duration bonds, according to a portfolio manager. Total money market fund assets?decreased by $20.02 billion to $6.30 trillion for a week ending on Wednesday, Sept. 18, the Investment Company Institute said.
By Doug Young. The?latest results?from online insurance broker?Waterdrop Inc.? contained a steady stream of updates on both the company and its industry, providing a complex mix of both positive and negative developments for investors to drink up.
Streaming giant Netflix Inc (NFLX) is raising $1.8 billion in a debt offering. What Happened: Netflix (NFLX) ended the second quarter with 277.65 million global paid subscribers, adding 8.05 million paid subs in the quarter. The company continues to be a leader in the streaming space and a new debt offering could be done to continue that leadership.
The riskiest segments of the corporate fixed income market are experiencing a massive influx of investor capital in recent weeks as traders bet the Federal Reserve will cut interest rates at its September meeting and continue with a swift rate-cut cycle.
JP Morgan Chase & Co. is reportedly gauging investor interest in a possible issuance of high-yield bonds by Walgreens Boots Alliance, Inc. (WBA), aimed at managing the drug-store chain?s recently downgraded near-term debt obligations. Preliminary discussions on pricing suggest a yield in the vicinity of 7.5%, reported Bloomberg, citing people familiar with the discussions.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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