The US Treasury's 20-year auction hit a high yield of 4.927% on Tuesday, down from the 5.122% high in the previous auction.
The bid to cover ratio for the auction was 2.75, above the 2.55 ratio in the previous auction.
Dealers represented 51.87% of the bids, with direct bidders at 12.65% and indirect bidders at 35.47%.
For takedown, dealers took 8.48%, with direct bidders at 19.94% and indirect bidders at 71.57%.
NeoGenomics (NEO) said late Monday it has launched an offering of $275 million of convertible senior notes due 2032.The company said it plans to grant the initial buyers a 13-day option to buy up to $41.25 million of additional notes.
High Tide (HITI.V, HITI), up 15% at look in after-hours Nasdaq trading, after the cannabis retailer on Monday said it swung to a fiscal second-quarter profit on record revenue, with both earnings and sales exceeding analyst estimates.The company reported a profit of C$24,000, or C$0.01 per share, in the quarter ended April 30, compared to a loss of C$2.8 million, or C$0.04, in the prior-year period. FactSet expected a loss of C$0.02 per share in the last quarter.The company reported record revenue C$179.3 million for the period, compared to C$137.8 million during the same period last year, an increase of 30% year-over-year, the fastest growth rate in 11 quarters. It exceeded FactSet analysts' consensus estimate of C$171.2 million.High tide's adjusted EBITDA stood at record C$13.9 million in the second quarter. This was up 73% compared to last year, marking the fastest growth rate in nine quarters, and up 21% sequentially despite there being three fewer days in the quarter, the company said."Our second quarter results highlight the strength of High Tide's diversified growth strategy and our ability to execute at a high level across multiple geographies. Through the continued integration of Remexian, we have expanded our supply chain capabilities, eliminated unnecessary intermediaries, and are procuring biomass at materially lower costs than Remexian could on its own, enabling us to achieve key operational and financial objectives approximately 90 days ahead of our internal expectations," said chief executive Raj Grover.In its outlook, the company reiterated its long-term goal of surpassing 350 retail locations nationwide and opening 20-30 locations in calendar 2026, mostly through organic growth, while also evaluating supplemental M&A opportunities of varying sizes. It also anticipates "significant" growth in its white-label portfolio and expects sales of its higher-margin white-label brands to reach approximately 20% of total sales.The results come after High Tide earlier Monday said it is taking yet another step to expand its bricks-and-mortar retail cannabis operations, by entering into a definitive agreement to acquire J. Supply Holdings Inc., operating as Northern Helm, resulting in High Tide's acquisition of four of the six retail cannabis stores currently operated by Northern Helm in Ontario for $7.74 million. These acquisitions will bring High Tide's total store count to 228 Canna Cabana locations across Canada and 103 in the province of Ontario.Separately, High Tide said it had secured credit approval for a loan agreement with Bank of Montreal in respect of new senior secured credit facilities in the principal amount of C$40 million. Closing of the new credit facilities remains subject to the satisfaction of customary closing conditions and upon closing, will replace the company's existing senior credit facility.Shares of the company were trading up US$0.33 to US$2.58 at last look on Nasdaq, after closing down C$0.05 to C$3.18 on TSX Venture Exchange.
3:00 Monday vs 3:00 Friday2yr 99-28 vs 99-26; 4.064% vs 4.085%5yr 99-23 vs 99-19; 4.186% vs 4.213%10yr 99-07+ vs 99-03; 4.469% vs 4.487%30yr 100-14+ vs 100-12; 4.969% vs 4.974%2/10 40.278 bps vs 39.965 bps5/30 78.141 bps vs 75.998 bps