Mnuchin & Liberty Strategic Capital come to the rescue of NYCB
The news on NYCB just keeps coming today, and it appears as if it’s fundraising round was successful. The cash-strapped bank has just issued a press release and… — Lew
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Lew
CNBC Talking Head Jenny Harrington is holding the bag on NYCB losses
Jenny Van Leeuwen Harrington, CEO of Gilman Hill Asset Management and frequent CNBC contributor, owns up to holding on to her NYCB stock, which is in free-fall today… — Lew
BowFlex can’t handle the weight
BowFlex is filing for bankruptcy with $140mm in assets and $125.9mm in debt. The home workout equipment maker has said that it has a bid of $37.5 million… — Lew
NYCB stock tanks after WSJ report
The WSJ is reporting that New York Community Bancorp (NYCB) is on a desperate quest for equity capital as it battles to regain investor confidence amidst a backdrop… — Lew
Everyone’s talking about Target’s new membership program, but no one has said how dumb the name is
Target Circle 360? You’re joking, right? Countdown until they throw up their hands and call it Target Plus starts now. — Lew
SoFi issuing $750mm in new debt
Fintech company SoFi is adding to its $5 billion in debt by issuing $750 million more in convertible notes. The stock is taking a 15% haircut on the… — Lew
JetBlue officially grounds takeover of Spirit Airlines
This was all but inevitable after a judge ruled against the acquisition last month, but it’s now officially dead. Spirit is now on deathwatch. — Lew
Silver spoon Disney heirs “rally” behind Bob Iger
Today in news that shouldn’t be news: eight grandkids of Walt & Roy Disney have come out in support of Bob Iger in his battle with Nelson Peltz.… — Lew
Closing bell clicks: Feb. 28, 2024
Webull to go public via SPAC <CNBC> Apple abandons electric vehicle project <Semaphor> Wendy’s denies reports that it will implement surge pricing <Reuters> Why are so many CEOs… — Lew
E-commerce company Thrasio gets throttledio
The headline: Thrasio Takes Steps to Strengthen Financial Position The sub-headline: Initiates Pre-Arranged Chapter 11 Process with Support from Lenders to Significantly Reduce Debt and Facilitate Comprehensive Balance… — Lew