[Music] Hello and welcome to Ask for a Trend. I'm Josh Lipton. Over the next half hour, we're breaking down the trends of today that'll move stocks tomorrow.There's a lot to keep track of, so we're focusing on what you need to know to get ahead of the curve. Here's some of the trends we're going to be diving into. Stocks climb Monday as investors eyed a looming US government shutdown.At the end of the session, all the major indices did end the day higher. The gaming world may be playing at a new level after ...

Long before being pushed to the brink of bankruptcy by concerns over its financial reporting, First Brands took steps to keep Apollo at bay https://t.co/mhkLLUDAZs ...

Analysts on a Goldman trading desk have told clients they have “serious doubts” that the auto-parts supplier First Brands will be able to avoid bankruptcy https://t.co/U70wXRBCTn ...

According to Bloomberg, the FTX Recovery Trust filed a lawsuit on September 23 in the U.S. Bankruptcy Court for the District of Delaware against Bitcoin mining firm Genesis Digital Assets and its co-founders Rashit Makhat and Marco Krohn, seeking to recover approximately $1.15 billion in assets allegedly transferred illegally by Sam Bankman-Fried using commingled and misappropriated FTX customer funds. https://t.co/IdUP3HESpO ...

Core Viewpoint - Omnicare Inc., a subsidiary of CVS Health Corp., has filed for Chapter 11 bankruptcy due to a $949 million civil judgment related to improper dispensing of prescription drugs, which is its largest unsecured debt [1][2]. Financial Position - Omnicare's Chapter 11 petition lists assets of at least $100 million and liabilities between $1 billion and $10 billion [2]. - The company has secured $110 million in Chapter 11 financing to support its operations during the bankruptcy process [3]. Strategic Options - The bankruptcy filing allows Omnicare time to evaluate options for resolving the judgment and addressing financial challenges in the long-term care pharmacy industry [4]. - Potential strategies include standalone restructuring or selling the business [4]. Industry Context - Omnicare has faced financial pressure from economic trends affecting long-term care facilities, such as a tightening job market, falling reimbursement rates, and a decline in the use of long-term care facilities in favor of outpatient care [6]. - Several clients of Omnicare in the long-term care sector have also filed for Chapter 11 bankruptcy, resulting in lost revenue and bad accounts receivables [7]. Operational Impact - The bankruptcy filing is expected to pause government efforts to collect the $949 million judgment against Omnicare [8].

Core Points - Bankruptcy is a legal process that provides relief from overwhelming debts but comes with specific limitations and obligations that must be adhered to [6][10][11] Group 1: Bankruptcy Process and Obligations - After filing for bankruptcy, individuals must complete a debtor education course to receive a discharge, and failure to comply with court orders can lead to case dismissal [1][2] - Both Chapter 7 and Chapter 13 bankruptcies require court oversight, including attending meetings and submitting documents [2][3] - There are waiting periods before individuals can file for bankruptcy again, with Chapter 7 requiring an 8-year wait and Chapter 13 a 4-year wait after a previous discharge [3][4] Group 2: Limitations Post-Bankruptcy - A bankruptcy filing significantly impacts credit reports, with Chapter 7 remaining for up to 10 years and Chapter 13 for up to 7 years, making it difficult to obtain new credit [6][7] - Certain debts, such as student loans, child support, and recent tax debts, are not dischargeable through bankruptcy [10] - Individuals cannot cosign loans immediately after bankruptcy due to being viewed as higher-risk borrowers [12][13] Group 3: Rebuilding and Financial Management - Rebuilding credit is essential after bankruptcy, and individuals are encouraged to adopt careful financial habits, including budgeting and using secured credit cards [14][15] - Honesty in future credit applications is crucial, as lying about past bankruptcy can lead to fraud charges [16][17] Group 4: Broader Implications - Bankruptcy can affect employment opportunities, particularly in finance-related jobs, and may complicate renting and insurance processes [20]

First Brands is discussing options with its creditors for restructuring its $6 billion debt load that include a possible Chapter 11 bankruptcy filing https://t.co/BCeCsHF1qS ...

Yellow Corp. and its largest shareholder failed to convince an appeals court to overturn a bankruptcy court’s ruling that the insolvent less-than-truckload (LTL) firm was liable for billions in debt claims by its pension funds. After Yellow Corp. shuttered operations and filed for bankruptcy in summer 2023, it withdrew from several pension plans that secured retirement benefits for the former trucking firm’s union workforce. During the Chapter 11 bankruptcy process, those funds came looking for what they b ...

FTX to Dispense $1.6 Billion in Bankruptcy Repayments This Month► https://t.co/hMdvJzBTkz https://t.co/hMdvJzBTkz ...

FTX will begin its third bankruptcy distribution on September 30, allocating an additional $1.6 billion to creditors. The round covers both convenience and non-convenience classes, with prior distributions having returned approximately 120% of November 2022 account balances to convenience class creditors. https://t.co/ZmxwjinfUZ ...