Private Equity Cuts Leveraged Loan Banks Out of M&A — and Fees
PE firms including Cinven, Platinum Equity and Jacobs Holding have inserted provisions into debt agreements this year that are alarming bankers who stand to lose out on some of the most profitable fees on Wall Street. These portability clauses allow private equity firms to buy and sell companies without fresh borrowings — and they're appearing with increasing regularity in refinancings on both sides of the Atlantic.
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Digital Trends
a few seconds ago
- Digital Trends
RTX 40-series GPUs just got smoother gameplay with Nvidia's latest update
Out with the old, in with the new. According to Board Channels, Nvidia has now halted production for nearly all of its best graphics cards as it shifts focus to the RTX 50-series. Only one GPU remains in production, and some of the cards that are the most in demand are no longer being produced. Nvidia hasn't officially announced that it's sunsetting the RTX 40-series, but we've been hearing more and more reports that imply that might be the case. The RTX 4090 was among the first cards to go out of production, and the discontinuation appears to have immediately affected the markets. Nvidia's behemoth flagship was hard to come by at the best of times, and now, as no more new units are being produced, it's safe to assume that this situation won't improve. The cheapest RTX 4090 I could find on Amazon costs nearly $2,000, but you can still snag one for $1,900 at Newegg .
Yahoo
28 minutes ago
- Yahoo
Wall Street sees stock market rotation charting 'healthiest path' to new highs
The stock market's rally to record highs has started to suggest some investors see life outside of the Big Tech names that have defined markets since 2023, as lagging sectors like Health Care (XLV) and Homebuilders (XHB) — as well as out-of-favor investments like small- and mid-cap stocks — have played a larger role in this summer's move. And some strategists see this rotation as an early sign that an even healthier market dynamic could be emerging. Scott Chronert, managing director of US equity strategy at Citi, sees this broader participation as framing out "two parallel paths" for the S&P 500 — one led by the AI-fueled growth giants and the other driven by more traditional sectors tied to the economy. "The simple answer is that we see ongoing Mega Cap Growth participation, if not leadership, but with fundamental and performance broadening creating a more durable structural setup," he said on Friday. "The healthiest path to higher index levels is a combination of Growth/Tech leadership persisting but with other areas of the market additive more so than has been the case this past year." Data from Bespoke Investment Group published Friday noted investors last week showed signs of moving out of 2025's biggest winners and into less-loved pockets of the market. Over the middle three trading days last week, Bespoke's work found stocks in the worst-performing decile this year among S&P 1500 companies were up an average of 6.7%; the best performers were up less than 1% over the same period. "When momentum names stall or sell-off, it can really hit the major indices hard if no other areas of the market are there to pick up the slack," Bespoke said. "But [last] week, the year's worst performers finally saw some buying interest as investors rotated across the market instead of out of it." Ed Yardeni of Yardeni Research added that rising expectations for a September Fed rate cut helped fuel the shift, sparking a rotation from growth to value and from large caps to small- and mid-cap stocks. "We certainly welcome such a broadening," he wrote in a Sunday note to clients. 'Significant headwinds' remain Sean Simonds, US equities strategist at UBS, described the current broadening setup as "a mixed bag," noting that AI-driven momentum is starting to spill into other adjacent areas like software, power, and re-shoring. Simonds added that after a wave of downward earnings revisions earlier this year, earnings breadth has also shown signs of improving. However, areas such as consumer and healthcare remain weaker, even if the outlook there has turned "less negative." Gerry Fowler, head of European equity strategy at UBS, added that small-cap stocks in particular depend on a 'Goldilocks' scenario in which the Fed manages to cut rates without spooking markets. "If Powell is able to stay out of the headlines and deliver the September cut in line with expectations, there is room for the broader market to remain quite healthy," Fowler said. "On either side of Goldilocks, you've got significant headwinds for the Russell 2000." Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments Fowler's cautious note echoes a broader concern on Wall Street, which is that signs of rotation among styles and sectors overstate the extent to which this shift sees investors actually preferring to put more money behind new themes. DataTrek Research noted in a recent report that just two of the S&P 500's 11 sectors — Technology (XLK) and Industrials (XLI) — have outperformed since the index's April lows. The firm also noted that the top 20 names in the index, or nearly half the S&P 500 on a market cap basis, are up more than 40% on average over that period. That concentration means the durability of the rally may hinge on whether new pockets of strength can sustain recent momentum. Looking ahead, Simonds cautioned that momentum could stall if earnings expectations fade or if the Fed delivers a surprise that clashes with market expectations. "There's still the possibility of earnings expectations slowing into the second half of this year and first half of next year," he said. 'And any disappointment out of Jackson Hole or into the September Fed meeting will definitely take some wind out of the sails as well." Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Android Authority
30 minutes ago
- Android Authority
Verizon's loyalty discount mess is somehow getting worse
Edgar Cervantes / Android Authority TL;DR Verizon subscribers are reporting that the carrier is tricking them into accepting lower discounts. A new $10 discount on the My Verizon app replaced the existing $20 loyalty discount without warning. Some users say they were able to stack the two discounts, but many others report increased bills after unknowingly accepting the new offer. Verizon's loyalty discount mess seems to be getting worse. Users are now reporting that they are being tricked into accepting lower discounts, replacing higher existing benefits without warning. One Reddit user warned others not to accept a $10 discount prompt in the My Verizon app, since it canceled out their existing $20 discount and left them paying more. 'It prompted me for a $10 discount off my line, so I hit accept. That overrode the $20, increased my bill, and support says there's no way to revert,' the user wrote in frustration. Other subscribers chimed in with similar stories, saying they also felt deceived into accepting smaller discounts. To make matters worse, customers reported receiving follow-up emails with the subject line 'Good news — your bill just got lower,' even though their bills have actually gone up. 'Support agent has no way to revert. It's funny that after my $20 discount being replaced to $10 discount, I received an email titled as: good news – your bill just got lower, while in reality my bill just got higher, up $10 per month. Support agent also confirms my bill will go up $10 per month. The email title is 100% a lie in any means,' wrote a user. Not everyone is experiencing the same outcome, though. Some users say they were able to stack the new $10 loyalty discount on top of their existing $20 discount, suggesting Verizon may be applying these changes differently depending on the plan. Either way, it's worth calling customer care before accepting any new discount offers to make sure you're not losing benefits you already have. This all comes after Verizon confirmed plans to cut loyalty discounts, raise fees, and remove perks earlier this month, sparking backlash from customers who saw their bills going up. Verizon defended the changes as 'adjustments in line with market rates,' similar to what other carriers have done. Still, the company's handling of its most loyal customers has been a particular sore spot. Don't want to miss the best from Android Authority? Set us as a preferred source in Google Search to support us and make sure you never miss our latest exclusive reports, expert analysis, and much more. Loyalty discounts on Verizon are set to end as early as September 1, 2025, with users potentially losing between $10 and $25 per line. After confirming the cuts, Verizon later reinstated discounts for some customers who threatened to leave. In at least one case, a user said they even got a $20 monthly discount restored after filing a complaint with Verizon's CEO. But with these latest reports of misleading discount prompts and contradictory emails, Verizon isn't exactly winning any brownie points from long-time customers right now. Perhaps the carrier should consider clear communication so subscribers can at least know what they're in for instead of being taken by surprise. Follow
