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danielle shay expects this dow laggard to hit new highs on cnbc’s trading nation seema moody discussed dow jones components that can catch up as the stocks were down more than 10 from their 52week highs despite the index hitting a record high this week | 0 |
shares of charles schwab corp schw slipped 263 to 7295 tuesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 432 to 393269 and dow jones industrial average djia falling 394 to 3110497 the stocks fall snapped a fiveday winning streak charles schwab corp closed 2329 below its 52week high 9624 which the company reached on february 9th despite its losses the stock outperformed some of its competitors tuesday as bank of america corp bac fell 360 to 3400 and morgan stanley ms fell 344 to 8705 trading volume 53 m remained 15 million below its 50day average volume of 68 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of taketwo interactive software inc ttwo inched 031 higher to 9969 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 120 to 378322 and dow jones industrial average djia falling 110 to 3287571 taketwo interactive software inc closed 8256 below its 52week high 18225 which the company reached on january 4th trading volume 19 m remained 455638 below its 50day average volume of 24 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
in response to the ftx collapse binance ceo changpeng zhao “cz” said they are allocating 1 billion in ‘recovery funds’ for six months to help address the liquidity crisis faced by crypto exchanges what happened in an interaction with bloomberg cz alleged that his initial offer to acquire ftx fttusd came to a halt after he looked at the company’s data room where “lots of funds were missing these were all ‘doubledigit billings so i couldnt trust anything in their data room” see also best crypto apps when asked about genesis facing liquidity cz said “there are different numbers floating and these numbers change every minute” but even if genesis goes down “the industry will survive” he believes that to retain investors small institutions will be hurt in a scenario if genesis collapses however “the beauty of decentralization will get the industry back on its feet” on acquiring voyager the binance ceo said its us arm will make another bid soon binance was the first company to publish proof of reserves to ensure that investors do not panic and trust centralized exchanges “many other exchanges are trying to copy us but are facing issues” cz said adding that publicly listed companies “dont list their assets directly they hire a third party to do so and that becomes less transparent since its in us dollar and not in crypto assets particularly” price action at the time of writing ftt was trading at 130 down 259 in the last 24 hours according to benzinga pro data read next us congressman says ftx was a failure of centralized finance and a failure of sam bankmanfried why its important | 0 |
we’ve known that women have been hurt most economically since covid19 struck in early 2020 roughly 2 million women have left the labor force to protect their loved ones from disease homeschool kids learning remotely or care for elderly parents that meant the loss of nearly two years’ worth of earnings as well as retirement savings causing them to fall further behind a report issued in october by the transamerica center for retirement studies showed that’s translating into greater concerns among women as well as men about their financial future transamerica has published studies based on surveys of workers for 21 years this report focused on women’s health finances and retirement outlook in the wake of covid19 the findings provided some reasons for optimism most women and men surveyed by transamerica were happy with their lives and were confident they would reach their financial goals including a comfortable retirement and a solid majority continued to fund their retirement accounts even as businesses closed states and cities locked down and hundreds of thousands of americans died from covid19 “it is remarkable that such a high percentage four in five workers continued saving for retirement–even at that darkest hour or during what let’s hope was the darkest hour of the economy and the pandemic” said catherine collinson chief executive and president of transamerica institute a nonprofit private foundation that oversaw the study but the pandemic took its toll the transamerica survey found 51 of women and 48 of men reported covid had hurt their financial situation far fewer women than men expect to retire before age 65 women were much less likely than men to be confident in their ability to retire comfortably although around 40 of both men and women were afraid of outliving their money in retirement more women than men worried social security will be reduced or disappear in the future maybe because a significantly larger percentage of women said social security was likely to be their primary source of retirement income women had a median 57000 in retirement savings less than half the 118000 men had their median emergency fund savings were 4000 also less than half the 10000 men had saved the survey was conducted online by the harris poll and got over 3000 respondents 55 of them men the poll was taken late last year among fulltime employees at forprofit corporations so it did not capture the views of selfemployed people or those out of the workforce collinson said transamerica has pollsters in the field right now to update the findings in an interview collinson told me that covid had not so much created new problems for women workers as exacerbated the disparities already present “the pandemic has been difficult for both women and men” she said “but as we look at the setbacks that women have faced what it means is that what was already a very difficult mountain to climb in some ways just got even taller” and even in cases where women and men expressed similar concerns about retirement readiness or financial setbacks “because women were already in a more vulnerable position before the pandemic these setbacks or these negative experiences make it more difficult for them to recover than men even if we look at percentages being somewhat similar” she said their different life experiences—principally child rearing which still falls disproportionately on women—contribute directly to the gap in retirement savings and the standard of living those savings can support in retirement “women are more likely to take time out of the workforce and in doing so give up the income and employer benefits and social security credits when they take time out for parenting and caregiving and statistically women live longer than men which means we need to be saving for even longer retirements’ said collinson she recommends women and men take a few simple steps to stay or get back on track financially first create a budget “a really important starting point is just know where you stand financially and assessing your situation and creating a budget is a really important first step’ she said next prioritize building a healthy emergency fund “it’s really important that people have emergency savings to help support them through any major financial shocks and if we’ve learned anything in the pandemic it’s that financial shocks can happen at any time” finally she said “formally estimate your retirement savings needs use a retirement calculator check with your retirement plan provider weigh in with a financial adviser” if your goal is financial security in retirement you have to know how much you need we can’t stop aging and we can’t prevent pandemics but we can be prepared and know where we stand that’s good advice for anyone male or female in a world where uncertainty rules | 0 |
smart for life inc nasdaqsmfl opened up its shares for public trading for the first time since it filed for ipo in december 2021 the company agreed to initially offer 144 million shares to the public at a 1000 per share on its first day of trading the stock fell 333 from its opening price of 30 to its closing price of 290 smart for life inc performance on first day of trading about smart for life inc and its ipo smart for life inc is engaged in the development marketing manufacturing acquisition operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness for its ipo smfl agreed to offer 144 million shares at a price of 1000 per share with an insider lockup period of 180 days ending on august 15 2022 an insider lockup period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares the insider lockup period makes sure that the market does not get oversupplied with shares of the company traders may short the stock leading up to the lockupperiod expiration date in hopes that the price will fall due to an increase in supply of shares retail traders should be watching this stocks short interest as it moves closer to lockup expiration see also benzingas most shorted stocks this article was generated by benzingas automated content engine and reviewed by an editor | 0 |
shares of cbre group inc cl a cbre shed 058 to 7366 thursday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 072 to 406122 and dow jones industrial average djia falling 086 to 3312774 this was the stocks fourth consecutive day of losses cbre group inc cl a closed 1592 below its 52week high 8958 which the company achieved on february 14th trading volume 18 m remained 123220 below its 50day average volume of 19 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
the closure of gabe plotkin’s melvin capital management is vindication for legions of retail traders who banded together last year against wall street providing a rare bright spot for the reddit crowd as stocks and crypto continue to plunge plotkin’s decision to shut down his 78 billion fund was met with celebration on the forums that fueled the initial revolt against his short positions in gamestop corp and other troubled companies that became the favorite meme stocks of 2021 at the time an army of traders on reddit’s wallstreetbets targeted melvin and other hedge funds which they argued were a manifestation of wall street’s greed | 0 |
creightons said friday that pretax profit for fiscal 2023 fell after revenue declined on lower sales but that it was well placed to respond proactively to challenging market conditions for the year ended march 31 the uk maker of personal care beauty and fragrance products posted a pretax profit of 687000 pounds 875375 compared with gbp35 million for fiscal 2022 revenue dropped to gbp586 million from gbp612 million the year before private label sales fell to gbp22 million from gbp249 million mostly due to the nonrecurrence of a oneoff private contract the year prior the company said contract manufacturing sales fell 13 to gbp138 million reflecting the difficulties faced by certain brand owners in the challenging economic environment it said still overall branded sales rose 12 to gbp228 million the board believes that good management strong customer relationships and financial position will continue to enable the group to manage the current economic situation and that the group is well placed to proactively manage new challenges and take advantage of any new opportunities that may arise the company said | 0 |
while deflationary pressures have stripped a throng of precious metals and mining stocks of their luster this year flows into certain commoditybased exchangetraded funds continue to accrue despite an uncertain global backdrop we actually saw a pop in the last couple of weeks toward commodity etfs todd rosenbluth head of research at vettafi told cnbcs seema mody on etf edge on monday rosenbluth said that engagement for precious metal commodity etfs spiked earlier in may compared with the month prior according to vettafi data the story is all about gold will rhind founder and ceo of graniteshares said monday in the same segment its the only major metal to remain firmly in the green for this year rhind said that the uptick is largely due to debt ceiling negotiations and a potential default the ongoing banking crisis still looms higher inflation and a declining dollar are also tail winds for the precious metal he said gold is really serving its purpose at the moment as a way for people to park money in a noncorrelated asset as they worry about what might happen rhind said certainly to hedge themselves against the probability of something falling out of bed with the debt ceiling flows into the spdr gold shares have exceeded 114 billion the past month according to factset the ishares gold trust iau and the spdr gold minishares trust gldm saw net inflows of 182 million and 222 million respectfully in the same period of time but as a potential deal on the debt ceiling could come as soon as this week rosenbluth suggested broadening exposure in the precious metals and mining space gold may not continue to be in favor forever rosenbluth said were also finding advisors are interested in active management within the commodity space the neuberger berman commodity strategy etf nbcm is another way to get diversified exposure to commodities | 0 |
humza jilani is a reporting intern and part of the summer 2023 newsroom intern class at the wall street journal humza jilani is a recent graduate of the university of oxford where he studied international relations as a marshall scholar he received his bachelor’s degree in social studies from harvard university he has interned for foreign policy magazine in washington dc and for reuters and the economist in london | 0 |
zoom video communications shares have extended their postearnings slide coming under new pressure after wolfe research analyst alex zukin cut his rating on the videoconferencing stock zukein lowered his rating to peer perform from outperform cutting his target for the price to 100 from 140 zoom stock ticker zm which fell 74 on tuesday was down another 37 on wednesday to 11823 | 0 |
us crudeoil inventories fell by much more than expected last week and fuel stockpiles also declined according to data released thursday by the energy information administration benchmark us oil prices that were slightly lower before the mostlybullish report was released turned higher afterward the nymex frontmonth crude contract for july delivery was recently up 09 at 11624 a barrel crudeoil stockpiles fell by 51 million barrels to 4147 million barrels and are now about 15 below the fiveyear average the eia said analysts surveyed by the wall street journal had predicted crude stockpiles would fall by just 500000 barrels from the prior week oil stored at cushing okla the delivery point for us stocks increased by 256000 barrels from the previous week to 25 million barrels the eia said in its weekly report us crudeoil production was unchanged from the previous week at 119 million barrels a day according to the eia gasoline stockpiles declined by 711000 barrels to 219 million barrels compared with analysts expectations for inventories to decrease by 100000 barrels from the previous week distillate stocks which include heating oil and diesel fuel fell by 529000 barrels to 1064 million barrels and are now about 24 below the fiveyear average the eia said analysts were forecasting distillates inventories would rise 800000 barrels from the previous week the refining capacity utilization rate declined by 06 percentage points from the previous week to 926 which compares to analysts forecasts for a 04 percentagepoint increase us oil inventories for the week ended may 27 crude gasoline distillates refinery use eia data 51 07 05 06 forecast 05 01 08 04 note numbers in millions of barrels with the exception of refinery use which is in percentage points | 0 |
shares of amgen inc amgn inched 087 higher to 28576 wednesday on what proved to be an allaround dismal trading session for the stock market with the dow jones industrial average djia remaining mostly unchanged at 3359792 and the sp 500 index spx falling 019 to 393392 the stocks rise snapped a fourday losing streak amgen inc closed 1091 below its 52week high 29667 which the company achieved on november 8th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as johnson johnson jnj rose 061 to 17717 and pfizer inc pfe rose 107 to 5024 trading volume 25 m remained 341507 below its 50day average volume of 28 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of marketaxess holdings inc mktx slumped 023 to 35503 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 111 to 411786 and dow jones industrial average djia falling 061 to 3394901 the stocks fall snapped a twoday winning streak marketaxess holdings inc closed 3510 below its 52week high 39013 which the company reached on march 1st despite its losses the stock outperformed some of its competitors wednesday as blackstone inc bx fell 216 to 9462 morgan stanley ms fell 026 to 9896 and charles schwab corp schw fell 071 to 8061true trading volume 274046 remained 85181 below its 50day average volume of 359227 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of amgen inc amgn dropped 019 to 22100 wednesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 184 to 422550 and dow jones industrial average djia falling 138 to 3313176 amgen inc closed 4000 short of its 52week high 26100 which the company reached on april 21st the stock demonstrated a mixed performance when compared to some of its competitors wednesday as johnson johnson jnj rose 005 to 16122 roche holding ag part cert rhhvf rose 002 to 37898 and pfizer inc pfe fell 139 to 4687 trading volume 30 m remained 51274 below its 50day average volume of 30 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of hartford financial services group inc hig sank 050 to 6952 friday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 016 to 412408 and dow jones industrial average djia falling 003 to 3330062 this was the stocks third consecutive day of losses hartford financial services group inc closed 992 short of its 52week high 7944 which the company achieved on january 6th the stock demonstrated a mixed performance when compared to some of its competitors friday as blackrock inc blk rose 048 to 64510 t rowe price group inc trow fell 070 to 10531 and american international group inc aig fell 061 to 5249 trading volume 12 m remained 11 million below its 50day average volume of 23 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of lincoln national corp lnc shed 344 to 3033 monday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 007 to 404842 and the dow jones industrial average djia rising 012 to 3343144 lincoln national corp closed 3958 below its 52week high 6991 which the company reached on april 21st the stock underperformed when compared to some of its competitors monday as metlife inc met fell 091 to 6969 prudential financial inc pru fell 052 to 9856 and aflac inc afl fell 032 to 6822 trading volume 32 m eclipsed its 50day average volume of 32 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of united rentals inc uri inched 036 higher to 35671 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 040 to 382414 and dow jones industrial average djia falling 003 to 3313637 united rentals inc closed 1720 below its 52week high 37391 which the company reached on december 14th the stock outperformed some of its competitors tuesday as herc holdings inc hri rose 025 to 13190 trading volume 492921 remained 199794 below its 50day average volume of 692715 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
manila dec 13 reuters the asian development bank adb has approved a 250 million loan for the philippines to purchase covid19 vaccines it said in a statement on monday the adb said the loan would allow the government to purchase 40 million additional covid19 vaccine doses for eligible children and booster shots for adults the philippines is aiming to fully vaccinate at least 54 million people or nearly half of its 110 million population before the year ends to reach that target it plans to hold a second threeday mass vaccination campaign from dec 15 it has so far fully immunised 392 million as of dec 7 new daily cases in the philippines have stayed below 1000 since nov 24 a sharp decline from the more than 20000 peak in late september that strained the fragile health system in the southeast asian archipelago the philippines improving covid19 situation has allowed it to gradually reopen the economy and tentatively resume inperson classes | 0 |
shares of eog resources inc eog rose 331 to 7460 wednesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 095 to 439564 and the dow jones industrial average djia rising 100 to 3425832 this was the stocks second consecutive day of gains eog resources inc closed 1339 below its 52week high 8799 which the company reached on june 7th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as conocophillips cop rose 494 to 6226 pioneer natural resources co pxd rose 142 to 15005 and occidental petroleum corp oxy rose 519 to 2675 trading volume 46 m remained 123106 below its 50day average volume of 47 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
dr reddys laboratories ltd 500124 shares inched up 053 to 448610 indian rupees monday on what proved to be an allaround positive trading session for the stock market with the sp bse sensex index 1 rising 022 to 5765386 dr reddys laboratories ltd closed 15945 rupees short of its 52week high 464555 rupees which the company reached on november 2 the stock demonstrated a mixed performance when compared to some of its competitors monday as lupin ltd lupin rose 293 to 65875 rupees and zydus lifesciences ltd zyduslife rose 025 to 48190 rupees trading volume 4264 remained 3269 below its 50day average volume of 7533 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of southwest airlines co luv slid 271 to 3129 tuesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 158 to 407163 and dow jones industrial average djia falling 102 to 3353083 southwest airlines co closed 1689 short of its 52week high 4818 which the company achieved on may 4th | 0 |
telefonica sa said tuesday that spanish tax authorities would return 132 billion euros 130 billion to the company for overpayments it made more than a decade ago the spanish telecommunication company said it would receive a eur790 million refund for tax payments made between 2008 and 2011 with an additional eur526 million as interest telefonica had long been at loggerhgeads with spanish tax authorities taking the case to court in an attempt to secure a rebate from the treasury | 0 |
shares of imperial oil ltd imo inched 084 higher to c7285 monday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 039 to 2027582 imperial oil ltd closed c698 below its 52week high c7983 which the company reached on november 4th trading volume of 517665 shares remained below its 50day average volume of 10 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
paysafe stock rose friday as the online payments company named bruce lowthers as its new chief executive officer and reiterated its quarterly and fullyear guidance lowthers who succeeds philip mchugh joins paysafe after a 15year tenure at fintech company fidelity national information services | 0 |
us stock futures edged up monday suggesting that the major indexes will kick off the week on the front foot as investors await data on the american manufacturing and services sectors futures tied to the sp 500 ticked 03 higher pointing to the broad market index extending friday’s 08 gain nasdaq100 futures also climbed 03 indicating a modest rise in technology stocks after the opening bell investors are largely focused on the federal reserve’s annual economic policy symposium later this week awaiting fresh cues on when policy makers may slow bond purchases at the same time rising concerns that elevated covid19 infection levels may slow the global economic recovery sent stocks lower last week dallas fed president rob kaplan said friday he may rethink his call to begin tapering asset purchases soon if the delta variant weighs on growth “if there is any sign that the us economy is slowing the fed won’t taper” said michael hewson chief market analyst at cmc markets “there is a long way between laying out a pathway to tapering and actually doing it” in premarket trading shares in ridehailing firms declined after a california judge said a measure that sought to continue treating their drivers as independent contractors rather than employees is unconstitutional uber technologies dropped almost 4 and lyft fell over 4 | 0 |
shares of royal caribbean group rcl rallied 280 to 8384 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 023 to 446873 and the dow jones industrial average djia rising 076 to 3486963 royal caribbean group closed 1540 short of its 52week high 9924 which the company reached on february 25th the stock demonstrated a mixed performance when compared to some of its competitors monday as walt disney co dis rose 047 to 18498 marriott international inc mar rose 320 to 13998 and carnival plc adr cuk rose 275 to 2129 trading volume 40 m remained 243467 below its 50day average volume of 43 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of chubb ltd cb inched 037 higher to 20054 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 040 to 455464 and the dow jones industrial average djia rising 052 to 3541124 this was the stocks sixth consecutive day of gains chubb ltd closed 3083 below its 52week high 23137 which the company achieved on january 27th trading volume 16 m remained 321424 below its 50day average volume of 19 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of bajaj finserv ltd 532978 inched up 046 to 150850 indian rupees monday on what proved to be an allaround rough trading session for the stock market with the sp bse sensex index 1 falling 001 to 6297000 bajaj finserv ltd closed 33750 rupees short of its 52week high 184600 rupees which the company reached on september 13 the stock underperformed when compared to some of its competitors monday as religare enterprises ltd religare rose 113 to 17440 rupees and lt finance holdings ltd ltfh rose 055 to 11865 rupees trading volume 21302 remained 40482 below its 50day average volume of 61784 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of nike inc cl b nke slid 049 to 12062 thursday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 116 to 380810 and dow jones industrial average djia falling 102 to 3293008 the stocks fall snapped a twoday winning streak nike inc cl b closed 4257 short of its 52week high 16319 which the company reached on january 6th trading volume 60 m remained 23 million below its 50day average volume of 83 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
large corporate bankruptcies have begun to speed up to levels last seen during the past two us economic recessions signaling a struggle by more businesses to stay afloat as the federal reserve’s interest rate hikes take a toll weekly bankruptcy filings have approached their highest level since the covid crisis started in 2020 see chart recently touching almost eight filings per week based on a fourweek moving average according to torsten slok chief economist at apollo global management the chart shows only bankruptcies of large companies with liabilities of more than 50 million their rate of financial collapse now rivals levels seen in the wake of the 20072008 global financial crisis “this data is showing the beginning of a default cycle” said torsten slok chief economist at apollo global management in a follow up email with marketwatch “and powell saying today that rates are going to stay higher for longer is making you ask the question where will these trends be over the coming quarters if the fed only starts cutting rates in 2024” see powell and other central bankers vow to keep fighting inflation until there is evidence of success similar weakness however isn’t yet being reflected in the bond market for companies with highyield or “junk” credit ratings below the bbb threshold that’s largely attributed to corporations like homeowners binging on cheap debt during the covid crisis to lock in low borrowing costs when the fed’s policy rate was near zero for years “at this point defaults are still benign” said john mcclain a portfolio manager for brandywine global investment management’s high yield and corporate credit strategies a total of 20 us companies with “junk” credit ratings defaulted on 342 billion of debt in the past year according to creditsights of that 10 defaults impacting 11 billion of debt occurred in 2023 the creditsights team expects us defaults to end this year at 3 rise to 4 in the first quarter of 2024 but still say below the 5 historical average mcclain also expects an uptick in highyield bond defaults in the coming months but for the fallout to stay well below the post2008 carnage furthermore he attributed increased corporate bankruptcies in 2023 largely to stress seen in private credit and leveraged loans where floatingrate debt has been resetting higher at set intervals since the fed began increasing rates last year see leveraged loan defaults hit 25 billion head for third worst year in history says goldman like in the sputtering commercial mortgage market wall street often spins leveraged loans to companies into bond deals in this case called “collateralized loan obligations” clos the sector has come under pressure pulling back available funding for companies seeking floatingrate loans of note the roughly 15 trillion us highyield bond market consists mostly of fixedrate securities that mature in roughly seven to 10 years giving borrowers in the sector some breathing room from the fed’s rate hikes “the point with floatingrate debt is that it’s helpful for lenders up to a point” mcclain said adding that higher rates produce more income until the debt burden becomes too heavy for a company to sustain stocks were mixed wednesday after fed chairman jerome powell said a us recession still was avoidable but that a majority of his colleague at the central bank foresee two more rate hikes this year while meeting with other global central bankers in portugal the dow jones industrial average djia was 04 lower the sp 500 spx off 01 and the nasdaq composite index comp up 02 according to factset the 10year treasury rate tmubmusd10y was about 5 basis points lower at 372 | 0 |
shares of rollins inc rol slipped 053 to 3978 monday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 154 to 396394 and dow jones industrial average djia falling 145 to 3384946 the stocks fall snapped a twoday winning streak rollins inc closed 328 below its 52week high 4306 which the company reached on november 2nd despite its losses the stock outperformed some of its competitors monday as ecolab inc ecl fell 233 to 14548 trading volume 18 m eclipsed its 50day average volume of 14 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of ameren corp aee slid 006 to 9376 thursday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 157 to 453041 and dow jones industrial average djia falling 156 to 3467835 the stocks fall snapped a sixday winning streak ameren corp closed 011 short of its 52week high 9387 which the company achieved on march 30th the stock demonstrated a mixed performance when compared to some of its competitors thursday as dominion energy inc d fell 054 to 8497 duke energy corp duk rose 016 to 11166 and xcel energy inc xel fell 021 to 7217 trading volume 15 m eclipsed its 50day average volume of 13 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of rogers communications inc cl b rcib inched 056 higher to c5972 wednesday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 032 to 1961156 the stocks rise snapped a fiveday losing streak rogers communications inc cl b closed c2113 short of its 52week high c8085 which the company achieved on april 20th trading volume of 805547 shares remained below its 50day average volume of 17 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of rollins inc rol inched 028 higher to 3600 wednesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 023 to 470146 and the dow jones industrial average djia falling 003 to 3580438 this was the stocks second consecutive day of gains rollins inc closed 583 short of its 52week high 4183 which the company reached on january 13th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as ecolab inc ecl fell 089 to 23135 cintas corp ctas rose 055 to 44156 and rentokil initial plc adr rtoky rose 170 to 4236 trading volume 11 m remained 150595 below its 50day average volume of 12 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
a look at the day ahead in us and global markets from mike dolan amid all the handwringing over the debt ceiling row and background banking anxiety the us economy is holding up well enough to embolden federal reserve hawks once again assumptions about firstquarter and fullyear sp500 aggregate earnings contractions are being revised away alongside euro zone and british recession forecasts ai and chipled investment is picking up steam and soft landing hopes for the economy have been rekindled in some of the most timely updates on activity early may business surveys from europe and japan continue to show brisk servicesled growth through this month and the us equivalent is due later on tuesday although concentrated heavily in the tech sector stock market indices are pushing higher even in the face of washingtons bruising standoff over the debt limit which seemed to take a more optimistic tone on monday but shallower downturns or even none at all just goad more inflationwary central bank officials to argue for even tighter monetary policy to ensure inflation eventually returns to target and even though there appears to be some appetite among fed officials for a pause in the rate hike cycle next month at the current 50525 range the drumbeat for further hikes after that resumed in some quarters st louis fed president james bullard talked again of favouring 50 basis points more of rate rises before peaking while minneapolis fed chief neel kashkari said entrenched services inflation means it may be that we have to go north of 6 that talk of 6plus rates has not been heard since before the banking jolt in early march to be sure thats far from fed consensus and the likes of chair jerome powell and san francisco fed chief mary daly have been more equivocal on the outlook in recent days but the net effect has been to see markets scale back expectations for fed rate cuts later this year even if futures still seem resolute that the peak in rates is in already since early monday alone money markets have moved from pricing half a point of rate cuts this year to just 34bp on tuesday economists are even more hawkish and now believe the fed will not lower its targeted policy rate until the first quarter of next year according to the survey released by the national association for business economics that lifting of the yearend rate horizon is reigniting the dollar especially against chinas yuan which is hovering close to its lowest levels of the year on doubts about the strength of chinas muchtouted postcovid recovery coupled with anxious geopolitics following the weekend g7 summits call for derisking of businesses reliance on china supply chains shanghai stocks recorded their biggest oneday fall in a month elsewhere shares of julius baer baers slumped almost 8 after the swiss bank reported only a modest rise in assets under management and money inflows disappointing investors who had expected it to benefit from credit suisses troubles zoom video communications zmo extended mondays rally in afterhours trade after it raised its fullyear forecasts for revenue and profit even as growth winds down from a pandemic boom and business spending slows in a tough economy events to watch for later on tuesday flash may business surveys from the united states europe and around the world us april new home sales richmond feds may business index philadelphia feds may service sector survey us treasury auctions 2year notes dallas federal reserve president lorrie logan speaks bank of england governor andrew bailey speaks in parliament us corporate earnings palo alto networks agilent technologies intuit autozone vf corp | 0 |
shares of united airlines holdings inc ual slid 286 to 4280 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 075 to 396351 and the dow jones industrial average djia rising 055 to 3378148 this was the stocks second consecutive day of losses united airlines holdings inc closed 1032 below its 52week high 5312 which the company reached on april 22nd the stock underperformed when compared to some of its competitors thursday as southwest airlines co luv fell 085 to 3749 delta air lines inc dal fell 233 to 3353 and american airlines group inc aal rose 037 to 1360 trading volume 88 m eclipsed its 50day average volume of 86 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
in a meeting with pollster brett lloyd last week he indicated that a number of us senate seats increasingly lean democratic after which house seats are far more in play than is normally the case in midterm elections where the white house occupant is rather unpopular it’s something to think about particularly with the stock market top of mind conventional wisdom from the past week has been that “hawkish” comments from fed chairman powell in jackson hole have been the driver of the stock market’s muchcommented on retreat readers would be wise to dismiss the wisdom as it’s rooted in a misunderstanding of how markets work surprise is the source of big market moves this rates real thought as applied to powell’s comments simply because there was nothing surprising about them it’s long been known that the conventional thinker in powell believes the answer to what economists deem “inflation” is more intervention from the entity the fed that is empowered to keep “inflation” in check powell is conventional which means he’s predictable he said nothing new in jackson hole which means we should look elsewhere for the sudden shift in the markets the guess here is that it’s political for the longest time it was a known quantity that the republicans would enjoy big gains in the house come november and likely take the senate about what’s been written about predicted republican gains it’s not a bouquet being thrown the way of the gop as much as it’s a comment about what markets seem to like history says they like inactivity in washington with good reason all legislation whether good or bad can have destabilizing qualities that investors must price conversely gridlock removes what happens in washington as a market threat the longpredicted republican gains would exist as a check on government intervention except that the presumed electoral restraint on government isn’t as sure of a thing as it once was see brett lloyd above if so imagine a nothingtolose president in biden working with democratic majorities or a democratic senate in concert with a republicancontrolled house won with the slimmest of margins it presumably changes the legislative landscape for it putting interventionist legislation in play markets are information personified and they relentlessly price possibilities the surprise isn’t the fed but it would be a big surprise if an unpopular president actually gains a midterm mandate bringing it back to the fed it remains the case that what it does just isn’t that important consider a recent opinion piece by the very excellent judy shelton she’s a fed critic with good reason and the central bank is less of a place without her what’s a monument to groupthink could have profited from shelton’s contrarian ways at the same time shelton came off as less contrarian in her latest she contends that “the fed could crush demand by raising interest rates to stratospheric levels” but shelton knows that’s reducing to absurd what is an impossibility not only is this most conventional of central banks not going to raise rates to “stratospheric levels” it also couldn’t the fed can’t decree credit expensive any more than the mayor of new york city can decree apartments cheap markets always and everywhere have their say and this is most crucially the case with credit figure that it’s produced around the world at which point production is a magnet for the money that moves the production to its highest use market actors would rapidly and easily work around stratospheric rates which by their very description would signal an artificiality that markets are expert at correcting from there shelton writes that the fed’s inflation fighting supposedly higher central bank rates dampen inflation could be erased “through fiscal measures that expand spending power – cash payments subsidies rebates student loan forgiveness” except that shelton knows this isn’t true she has long caucused with the supplyside crowd which means she knows well that government can in no way increase demand it can’t because government isn’t some “other” as much as its spending power including its ability to forgive debt is a consequence of it having claims on the present and future production of the american people in other words government’s ability to dole out spending power springs from the productive seeing their spending power reduced there’s no increase in demand to speak of while government spending is a horrid tax and arguably the most economically crushing of taxes it’s not inflationary there’s no disagreeing with shelton that the goal should be to reduce the burden of government and that “greater output should be the goal” for certain if we shrink government allocation of precious resources we’ll get more production or more “supply” to be clear about the supply it won’t be “deflationary” any more than a lack of supply is inflationary supply and demand balance as shelton well knows which is why it didn’t ring true her assertion that the inflation of the moment is “largely driven by a lack of supply” reduced supply is the same as reduced demand it all raises a basic question why is shelton being so restrained in her commentary she knows what inflation is it’s a decline in the unit of measure used to facilitate exchange translated for those who need it inflation is currency devaluation which means the answer to inflation isn’t more supply it’s not less government spending it’s just a stable dollar except that the dollar’s exchange rate has never been part of the fed’s policy portfolio shelton knows this too the fed just isn’t that important not from a stock market perspective and not from an inflation perspective eventually this contrarian view will become mainstream | 0 |
check out the companies making headlines after the bell ibm the tech company saw its stock dropping more than 5 in extended trading following a revenue miss in the third quarter its top two business segments global services and the cloud cognitive software business fell short of estimates csx corporation shares of the railroad giant climbed more than 3 after a strongerthanexpected earnings report csx posted earnings of 43 cents per share above refinitiv estimate of 39 cents per share its revenue totaled 329 billion versus 311 billion expected according to refinitiv las vegas sands shares of the casino operator dipped over 2 after the company posted widerthanexpected quarterly loss and revenue that was lower than analysts expectations its quarterly revenue came in at 857 million much lower than a refinitiv consensus estimate of 134 billion lam research the semiconductor companys stock fell more than 2 in extended trading following a disappointing quarterly report lam research posted revenue of 4304 billion in its fiscal first quarter slightly missing estimate of 4322 billion according to factset its earnings per share came in above expectations however tesla shares of the electric vehicle company edged lower in afterhours trading even after the company posted earnings and revenue in the third quarter that beat expectations the record results were driven by improved gross margins of 305 on its automotive business and 266 overall both of which are records for at least the last five quarters | 0 |
shares of f5 inc ffiv rose 781 to 14474 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 554 to 395637 and the dow jones industrial average djia rising 370 to 3371537 the stocks rise snapped a threeday losing streak f5 inc closed 10426 short of its 52week high 24900 which the company achieved on december 29th the stock outperformed some of its competitors thursday as cisco systems inc csco rose 399 to 4566 juniper networks inc jnpr rose 543 to 3051 and radware ltd rdwr rose 600 to 2189 trading volume 577626 eclipsed its 50day average volume of 561230 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
goodwin plc said tuesday that it expects pretax profit for the second half of fiscal 2023 to be similar to the first half and that this will in turn result in a modest increase in its annual pretax profit instead of a substantial increase as previously guided the londonlisted engineering group said there is a greater degree of uncertainty stemming from the high levels of currency pair fluctuations the war in ukraine as well as the bank of england delivering the biggest interestrate hike in 33 years it said this uncertainty resulted in some industry sectors hesitating about proceeding with planned investment projects still the company said that pretax profit rose for the first half of fiscal 2023 and that it expects its activity and profitability levels to rise over the next 12 months due to an increase in the workload the group said that for the six months ended oct 31 pretax profit was 122 million pounds 148 million compared with a pretax profit of gbp77 million for the first half of fiscal 2021 revenue rose to gbp893 million from gbp689 million in the prioryear period shares at 0905 gmt were down 135 pence or 42 at 3060 pence | 0 |
shares of gartner inc it rallied 112 to 34640 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 075 to 396351 and the dow jones industrial average djia rising 055 to 3378148 the stocks rise snapped a fourday losing streak gartner inc closed 1100 below its 52week high 35740 which the company reached on december 1st the stock demonstrated a mixed performance when compared to some of its competitors thursday as trade desk inc cl a ttd rose 155 to 4851 iqvia holdings inc iqv rose 131 to 21041 and omnicom group inc omc fell 008 to 7561 trading volume 237373 remained 220693 below its 50day average volume of 458066 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
when asset allocation decisions primarily involved deciding between stocks bonds and cash advisors didn’t particularly need a tool like blackrock‘s new “expected return analyzer” which launched thursday any advisor worth her cfp knew intuitively the impact on a portfolio of boosting the allocation to stocks and dialing back on cash for example | 0 |
shares of comerica inc cma rallied 278 to 8221 wednesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 183 to 397987 and the dow jones industrial average djia rising 140 to 3158128 comerica inc closed 1988 short of its 52week high 10209 which the company achieved on february 10th the stock outperformed some of its competitors wednesday as jpmorgan chase co jpm rose 190 to 11590 bank of america corp bac rose 154 to 3357 and wells fargo co wfc rose 224 to 4384 trading volume 929906 eclipsed its 50day average volume of 901913 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
us commercial inventories of crude oil rose for a ninth straight week as refinery activity continued to slow down according to weekly data released thursday by the energy information administration benchmark us oil prices that were higher before the mostlybearish report was released reduced some of those gains afterward the nymex frontmonth crude contract for april delivery was recently up 2 at 7545 a barrel commercial crudeoil stockpiles increased by 76 million barrels last week to 479 million barrels and are now 9 above the fiveyear average the eia said analysts surveyed by the wall street journal had predicted crude stockpiles would rise by 2 million barrels from the prior week oil stored at cushing okla the delivery point for us stocks increased by 700000 barrels from the previous week to 404 million barrels the eia said in its weekly report us crudeoil production was unchanged from the previous week at 123 million barrels a day according to the eia gasoline stockpiles unexpectedly fell by 19 million barrels to 2401 million barrels compared with analysts expectations of a 400000barrel increase distillate stocks which are mostly diesel fuel jumped by 27 million barrels to 1219 million barrels and are now about 12 below the fiveyear average the eia said analysts had forecast distillates inventories would fall by 700000 barrels from the previous week the refining capacity utilization rate fell by 06 percentage points from the previous week to 859 analysts were forecasting a smaller 01percentagepoint decrease from the week prior us oil inventories for the week ended feb 17 crude gasoline distillates refinery use eia data 76 19 27 06 forecast 20 04 07 01 note numbers in millions of barrels with the exception of refinery use which is in percentage points | 0 |
shares of dow inc dow rallied 197 to 6109 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 084 to 452154 and the dow jones industrial average djia rising 106 to 3546278 the stocks rise snapped a fourday losing streak dow inc closed 1029 below its 52week high 7138 which the company achieved on may 18th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as linde plc lin rose 076 to 29871 air products chemicals inc apd fell 062 to 25281 and dupont de nemours inc dd rose 632 to 8013 trading volume 56 m remained 291894 below its 50day average volume of 59 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
washington dow jonesthe us treasury plans to auction 57 billion in reopened 3month bills monday the debt will settle on march 30 2023 and will mature june 29 2023 the debt is a reopening of an issue first sold on dec 29 2022 the federal reserve holds 12506 billion of maturing securities for its own account amounts bid by the federal reserve banks for their own account will be in addition to the public offering amount noncompetitive tenders for the 3month bills available in minimum denominations of 100 must be received by 1100 am eastern time monday competitive tenders available in minimum denominations of 100 must be received by 1130 am eastern time | 0 |
sk innovation co shares rallied thursday amid upbeat market views on its fastgrowing electricvehicle battery business shares in the south korean battery and oilrefining company jumped 83 to close at 227500 won 19192 against the stock benchmark kospis 06 gain the rally followed a recent series of research reports that forecast that the company will gain from its promising battery business amid solid demand in particular for electricvehicle batteries seoulbased kb securities said that sk innovations battery business will likely swing to profit next year for the first time in a decade kb expects the battery unit to generate more than krw6 trillion in revenue in 2022up 98 from 2021and krw7270 billion in operating profit sk innovation is one of kbs top growth stock picks based on expectations that global evbattery demand will jump 69 in 2022 japanese investment bank daiwa capital has said it expects revenue at the battery unit to more than double next year with its order backlog likely surging to 16 terawatthours the companys expected solid revenue growth will likely boost profits next year as its evbattery plants in the us and poland are set to start production in the first quarter daiwa said sk innovation in october spun off its ev battery business as a separate entity called sk on to spur further growth the company has also teamed up with ford motor co to launch vehicle electrification joint ventures in kentucky and tennessee | 0 |
the economic and market pressures hitting consumers are likely to show even greater impact in 2023 according to jpmorgan strategist dubravko lakosbujas said in a note to clients on thursday that belttightening by consumers and companies will weaken corporate earnings next year and send the broader economy into a recession consumers have mostly exhausted postcovid excess savings and for the first time are getting hit by a broadening negative wealth effect from all assets simultaneously eg housing bonds equities alternativeprivate investments crypto the proverbial snowball should continue to gain momentum next year as consumers and corporates more meaningfully cut discretionary spending and capital investments lakosbujas said many americans have suffered a reduction in wealth this year the s p 500 is down about 14 in 2022 even with a recent rally the value of cryptocurrencies and other speculative asset classes have plunged with bitcoin down more than 60 year to date meanwhile the federal reserves interest rate hikes have helped create a brutal year for bond investors and housing prices have also started to fall lakosbujas wrote that he expects s p 500 to test its recent lows in the first half of 2023 before rebounding if the fed starts to change its course this selloff combined with disinflation rising unemployment and declining corporate sentiment should be enough for the fed to start signaling a pivot subsequently driving an asset recovery and pushing s p 500 to 4200 by yearend 2023 lakosbujas said on wednesday fed chair jerome powell said smaller rate increases may start in december but added that we have a long way to go in restoring price stability traders expect a halfpoint hike from the fed on dec 14 according to the cme fedwatch tool cnbcs michael bloom and jeff cox contributed to this report | 0 |
shares of bristol myers squibb co bmy shed 014 to 6400 thursday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 045 to 439644 and the dow jones industrial average djia rising 080 to 3412242 this was the stocks eighth consecutive day of losses bristol myers squibb co closed 1744 short of its 52week high 8144 which the company reached on december 1st the stock demonstrated a mixed performance when compared to some of its competitors thursday as johnson johnson jnj rose 070 to 16410 pfizer inc pfe fell 047 to 3612 and abbott laboratories abt rose 005 to 10766 trading volume 70 m remained 14 million below its 50day average volume of 84 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
keller group said wednesday that it expects to achieve a record performance in the first half of 2023 and for fullyear underlying operating profit to be materially ahead of market expectations the londonlisted geotechnical specialist contractor noted that the increase in earnings will be moderated by the adverse impact of recent interest rate increases the company added that it will raise the interim dividend by 5 to 139 pence a share as part of its interim results the actions we have taken to improve operational execution have resulted in an increased operating margin and a record performance in the first half of the year this significant progress together with the increased momentum and our robust order book gives us the confidence to increase our expectations for the year chief executive michael speakman said | 0 |
why jpmorgan is bullish about clevelandcliffs even if steel prices fall with the acquisitions of ak steel and arcelormittal usa in 2020 clevelandcliffs inc nyse clf has emerged as the largest producer of steel in north america according to jpmorgan | 0 |
shares of cgi inc cl a giba inched 005 higher to c13812 monday in what proved to be an otherwise allaround negative trading session for the canadian market with the sptsx composite index gsptse falling 004 to 1982245 cgi inc cl a closed c419 short of its 52week high c14231 which the company achieved on may 30th trading volume of 164555 shares remained below its 50day average volume of 338858 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
ottawathe bank of canada raised wednesday its policy rate by a full percentage point and judged that further rate increases are necessary marking one of the more dramatic moves to date by a developedworld central bank to drive inflation downward the bank of canada lifted its target for the overnight rate to 250 from 150 or the biggest onetime increase since 1998 when monetary officials tried to bolster the domestic currency amid financial crises in asia and russia the last time the bank of canadas policy rate | 0 |
a look at the day ahead in european and global markets from wayne cole its been a quiet start to the week in asia which is no surprise given us consumer prices loom this week as a major test of the markets sanguine view that the fed is done hiking futures are 90 priced for steady rates in june and 38 for a cut as soon as july leaving the market vulnerable to an upside surprise on the cpi median forecasts are for a rise of 04 but the range is 02 to 06 and either of those would have an outsized effect in the meantime everyone is waiting for the federal reserves senior loan officer opinion survey or sloos to see just how much lending has tightened given the strife in us regional banks this is not a release that usually attracts much attention and there is no poll forecast for it the main indicator is the share of respondents which include up to 80 large domestic banks and 24 us branches and agencies of foreign banks who say lending standards have tightened somewhat or considerably in the quarter the last survey out in january showed a combined 448 of respondents saw a tightening of standards for large and middlemarket firms goldman sachs sees that rising to 602 a level tighter than the dotcom crisis but less extreme than during the financial crisis or the height of the pandemic it would also be consistent with levels reached before or during the last four recessions 199091 2001 200709 and early 2020 the survey was conducted between the last week of march and first week of april so would have missed the latest turmoil around first republic and pacwest fed chair jerome powell last week offered a heads up on the survey saying they would not now have to raise rates quite as high because of the tightening in standards if you put the credit tightening on top of that and the qt thats ongoing i think you feel like we may not be far off a neutral rate he said in his qa possibly even at that level the bank of england isnt quite at neutral yet but will likely get closer to it later this week as the market implies a betterthan80 chance it will hike rates a quarter point to 45 futures are also priced for a further move to 475 given inflation is still in double figures though there is a chance the boe could take a dovish turn given the board split 72 last time with two voting to hold steady this week also sees chinese data on inflation and trade while g7 finance ministers meet in niigata japan from thursday through saturday key developments that could influence markets on monday ecb board member philip lane speaks in berlin fed bank of chicago president goolsbee and bank of minneapolis president kashkari are speaking | 0 |
that’s axel lehmann the chairman of credit suisse addressing shareholders after the deal to be purchased at a cutrate price by ubs ending 167 years of independence shareholders at neither credit suisse csgn nor ubs ubsg will get a chance to vote on the deal lehmann as noted in his speech was not at the bank for its many scandals and trading debacles most notably but hardly limited to the losses from the blowup of the archegos family office and the freezing of funds tied to greensill “the period from october to march was not long enough one legacy issue after another had already seen trust eroded – and with it patience dwindled at that we failed it was too late the bitter reality is that there wasn’t enough time for our strategy to bear fruit” said lehmann he said the deal “had to go through” or the bank would have to restructure under swiss banking law “this would have led to the worst scenario namely a total loss for shareholders unpredictable risks for clients severe consequences for the economy and the global financial markets” he said ceo ulrich körner made a similar apology “we ran out of time this fills me with sorrow what has happened over the past few weeks will continue to affect me personally and many others for a long time to come” he said he specifically tied the collapse of svb financial and signature bank to its own demise | 0 |
são paulobrazils unemployment rate fell in the three months through april from the first quarter as the number of people seeking jobs declined the jobless rate reached 85 in the april period from 88 reported for the three months through march and 105 in the yearearlier period the brazilian institute of geography | 0 |
shares of manulife financial corp mfc inched 096 higher to c2213 monday in what proved to be an allaround favorable trading session for the canadian market with the sptsx composite index gsptse rising 103 to 1925832 this was the stocks second consecutive day of gains manulife financial corp closed c596 below its 52week high c2809 which the company achieved on february 10th trading volume of 74 m shares remained below its 50day average volume of 105 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of fedex corp fdx advanced 124 to 26161 wednesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 074 to 447216 and the dow jones industrial average djia rising 025 to 3434743 this was the stocks fourth consecutive day of gains fedex corp hit a new 52week high surpassing its previous peak of 25888 which the company reached on july 11th the stock outperformed some of its competitors wednesday as united parcel service inc cl b ups rose 067 to 18649 trading volume 20 m remained 14920 below its 50day average volume of 21 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
short sellers day traders shares of struggling companies soaring improbably higher the market right now has all the elements of an oldfashioned memestock rally tupperware brands tup 3551increase green up pointing triangle is teetering financially but its stock has climbed from below 1 to about 5 in the past two weeks it jumped 36 on friday alone after news of a restructuring plan truckingbusiness yellow yell 083decrease red down pointing triangle shut down operations around a week ago but shares have jumped some 400 since and shares of cashstrapped drugstore chain rite aid rad 428increase green up pointing triangle surged 68 in the past week—for no obvious reason their rallies contrast with the overall market the sp 500 just notched its worst weekly performance since march meme stocks are companies valued more for the excitement around trading them than their underlying fundamentals it is not a strategy for the faint of heart the bankrupt bed bath beyond was a meme darling earlier this year but shareholders will get nothing under a proposed reorganization plan filed last month still the recent eyepopping share increases show how hungry many investors are to embrace big risks again after taking a breather during last year’s market downturn cryptocurrencies have soared too even though us regulators are suing the biggest exchanges the nasdaq composite home to many tech companies that are considered relatively risky trades is up 33 this year despite the past week’s decline day traders were similarly euphoric in late 2021 just before the market turned down some money managers worry that this year’s broad rally and the jump in meme stocks in particular has been too much too fast ali behzadpour 49 used to own a gas station where he chased profit margins of pennies a gallon like many individual investors he started trading stocks during the pandemic now he trades full time behzadpour who lives in napa calif started noticing moves in tupperware and yellow shares a couple of weeks ago through stockscanning software and buzz on discord he said he has been “scalping” tupperware and yellow or taking shortterm positions as brief as seconds or minutes in one recent session he estimates he made more than 3000 from his shortterm tupperware trades “i knew there was some momentum behind it” said behzadpour “and hype” individual investors’ daily net purchases of yellow totaled nearly 5 million on tuesday according to vanda research it had previously never cracked 1 million according to data going back to 2014 daily net retail buying in tupperware also soared some of the most widely traded options tied to tupperware this past week were bets that would pay out if the shares jumped to 6 or 750 shares ended the week at 477 after closing the previous week around 3 to be sure many individual investors are trading less than they did at the height of the pandemic—but still more than they did in early 2020 individual investors’ trading in options recently made up 27 of all activity up from 23 in early 2020 according to estimates from bloomberg intelligence meme stocks represent one way the market has fundamentally changed since the pandemic in 2021 newbie investors joined forces and piled into stocks like gamestop and amc even though the companies themselves were struggling earlier this year individual investors jumped in to trade the wild swings in regional bank shares “it’s kind of hard to put the gamestop genie back in the bottle” said katie perry general manager of investor relations at investing platform public nick gaynier 44 said he has most of his portfolio tied up in stocks like amc and he has used small dips in the shares to buy more he doesn’t mind the explosive swings “i would say that i have a really massive tolerance for risk” said gaynier a waiter from morristown nj gaynier said he picked up tupperware shares and options in recent weeks after spotting chatter on social media this week he scooped up even more call options—which confer the right to buy shares at a specific price by a stated date—and watched in awe as the contracts soared more than 800 in early trading friday bobby mort a 35yearold sewell nj resident said he has learned to move quickly when trading meme stocks wary that the swings can be shortlived he prefers to bet against stocks rather than ride them higher and recently shorted shares of tupperware and yellow but he said the moves are often unpredictable and timing the trades can be tricky “it doesn’t make the trades as easy as it should be” mort said write to hannah miao at hannahmiaowsjcom and gunjan banerji at gunjanbanerjiwsjcom | 0 |
shares of agnicoeagle mines ltd aem inched 078 higher to c7652 tuesday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 072 to 2042185 agnicoeagle mines ltd closed c814 below its 52week high c8466 which the company achieved on april 18th trading volume of 15 m shares remained below its 50day average volume of 24 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
london jan 13 reuters chinese developer guangzhou rf properties 2777hk which has a number of supersized projects in global cities such as london saw its hong kong offshoot declared in selective default on thursday after it pushed through a bond payment delay credit rating agency sp global took the step after the struggling firm got approval from lenders to delay a 725 million senior unsecured note payment that had been due on thursday read more we view the transaction as distressed restructuring tantamount to a default because rf hk has insufficient resources and limited funding options to repay the maturing notes in whole in the absence of the transaction sp said also investors are being paid less than originally promised due to the sixmonth maturity extension and the tender price being 17 below par for one of the offer options sp said it was keeping the rating rfs main parent company guangzhou rf properties co ltd unchanged at cc because it was not a guarantor of the bond in question although it warned it could cut it we will further review the credit profiles of guangzhou rf and subsidiary rf hk after we reassess the companies financial and liquidity positions sp said the group faces several hurdles to substantially improve its weak liquidity rf is latest chinese builder to be facing turmoil the countrys property market has been pushed into crisis by efforts to curb overborrowing and the woes of china evergrande 3333hk the worlds most indebted developer which defaulted late last year read more rfs struggles are being watched just as closely though in some of the global cities read more as it has a number of unfinished mega projects including one on the thames in london which it bought for 59 million pounds 8096 millionin 2018 from another chinese firm that was facing difficulties at the time | 0 |
shares of mt bank corp mtb rallied 195 to 18393 tuesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 158 to 447107 and the dow jones industrial average djia rising 122 to 3498884 the stocks rise snapped a twoday losing streak mt bank corp closed 302 short of its 52week high 18695 which the company achieved on february 10th the stock outperformed some of its competitors tuesday as bank of america corp bac rose 078 to 4779 wells fargo co wfc rose 092 to 5838 and pnc financial services group inc pnc rose 128 to 20719 trading volume 788984 remained 525419 below its 50day average volume of 13 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
investors should brace for a battered housing market and the economy to be “wobbling on the edge of recession” before the federal reserve relents on its inflation fight said david kelly chief global strategist at jpmorgan funds in a monday client note those were two of kelly’s key takeaways from federal reserve chairman jerome powell’s blunt and brief speech at the jackson hole economic symposium on friday which helped spark a sharp rout in stocks read what happens next now that jackson hole is over more fed hawkishness is in the cards the dow jones industrial average djia followed up its 1000point drop on friday with backtoback losses monday as us stocks spx comp finished lower for a second straight session like others kelly expects the central bank to increase the fedfunds rate to a range of 3754 by the end of the year from 22525 currently jpmorgan funds is an investing arm of jpmorgan chase co jpm a separate unit from its investment banking activities “the fed could then stop hiking and hope that the economy will just avoid recession” he said although it still would be “a very close call on recession” in the next year “this will be an environment of fading fiscal stimulus hurting consumption higher mortgage rates clobbering housing slow profit growth inhibiting investment and a higher dollar dxy and overseas weakness hurting exports” kelly said it also probably will take the public to grow “more fearful of recession than inflation” before the fed would slowly return to the kind of easymoney policies that shaped markets in the decade after the global financial crisis” he said “this should provide a positive backdrop for both stocks and bonds” but before that happens kelly sees potential for any surge in volatility to keep investors focused on defensive plays and valuations such as in value stocks longduration bonds and incomegenerating alternatives energy and utilities were two sp 500 sectors that managed to post gains on monday with us oil prices cl00 clv22 ending above 97 a barrel on monday the highest in a month the 10year treasury rate tmubmusd10y rose for a second straight session monday to 3109 the highest since june 28 according to dow jones market data read stocks headed for more pain as 3900 becomes new line in the sand for the sp 500 chart watchers say | 0 |
zillow’s unexpected announcement this week that it’s putting a temporary stop to its homebuying activities raised many analysts’ eyebrows and some argue that more concerning trends could be on the way the service zillow offers is what’s known as an “ibuyer” it purchases and sells homes directly to consumers typically renovating them in between following a report from bloomberg zillow z zg confirmed that its zillow offers division would not be signing any additional new contracts to purchase homes through the end of 2021 in explaining the move zillow said the company was facing a backlog of renovations and dealing with operationalcapacity issues “we’re operating within a labor and supplyconstrained economy inside a competitive real estate market especially in the construction renovation and closing spaces” jeremy wacksman zillow’s chief operating officer said in the announcement she added that the pause would enable the company “to focus on sellers already under contract” and the company’s existing inventory of homes other ibuyers have not followed suit as of now in fact it’s just the opposite most of zillow’s competitors reemphasized their expansion plans in response to the announcement redfin rdfn noted that its ibuying division called redfinnow “continues to make offers” in all 29 markets it operates in and the company plans to move ahead with its expansion plans on monday offerpad opad announced that it is launching in three markets in california in the first quarter of 2022 riverside san bernardino and sacramento “we look forward to taking our services and expertise to homeowners in california that want an easy seamless realestate experience” offerpad ceo and chairman brian bair said in the announcement a spokesperson for opendoor open said that the company “is open for business and continues to scale and grow” meanwhile opendoor cofounder keith rabois said on twitter twtr that zillow’s claims regarding supplychain bottlenecks was “just an excuse” some analysts and industry experts however noted that the pressures zillow says it’s facing are very much real in a recent report the national association of home builders noted that construction companies are still facing major headwinds in completing construction of new homes namely shortages of building materials and labor those same issues extend to renovation projects as well “labor shortages in the economy are real and likely resulting in bottlenecks along the chain” analysts at truist wrote in a research note “in such a setup the current pause lowers inventory risk to zillow in our view” zillow’s place in the ibuying landscape is different from some of its competitors like redfin zillow has other business lines it can depend on for revenue “because zillow’s business model is much more focused on aggregating eyeballs across the spectrum of realestate transactions it may make sense for them to periodically deemphasize the riskiest or most capitalintensive parts of their business as opposed to those of their peers for whom that’s all they do” said michael greene cofounder and ceo of resishares a residential realestate investment company other analysts were more circumspect about zillow’s move especially in light of its recent success with ibuying wedbush analyst ygal arounian downgraded zillow shares to “neutral” from “outperform” on tuesday in light of the pause on the company’s homebuying pursuits among his concerns are that rivals like opendoor will continue to increase market share while zillow takes a breather making it harder for zillow to bounce back “2022 was supposed to be the year where zillow’s move to capture the transaction was going to take greater shape with greater investments and the bundled offering driving growth from ibuyer traffic to ‘partner leads’ and mortgage growth” arounian wrote in a note “we think it’s hard to argue that that vision doesn’t take a step back” capacity constraints alone don’t explain everything stephens analyst john campbell said “we do think that there is likely more to the story so we’re surprised to see the positive reactions out of some of the other ibuyers” he said in an email to marketwatch one explanation is home prices the past year has seen an explosion in homeprice growth as home buyers seeking more space scrambled to compete for the little inventory in the market investors including ibuyers like zillow were caught in the melee the share of cash buyers which includes ibuyers has reached the highest level since 2013 and while some cash buyers can score a deal at or below a home’s asking price by nature of offering a simpler closing process the fierce competition today means that many are paying a premium for the homes they’re getting an august report from independent realestate analyst mike delprete found that zillow offerpad and opendoor were all paying well above the value of homes to purchase them in 2021 whereas back in 2019 they typically purchased properties at a discount for ibuyers margins are very tight especially once the cost of renovations is factored in and the longer a company holds onto a home the higher the risk “the activity we saw this summer was so unprecedented relative to the way realestate typically moves i can see why an ibuyer might want to take time to digest the signals coming out of the market now that it seems to have slightly more stable footing” greene said data from realestate company attom data solutions found that the typical homeflip only attracted a 335 profit which is the lowest since the first quarter of 2021 “while flipping has not turned into a losing venture on deals that usually take around six months to turn around the trends are showing signs of potentially heading in the other direction which is likely affecting decisions by homeflipping businesses around the country” said todd teta chief product officer at attom zillow’s other business lines give it an even deeper perspective into the belly of the beast between their realestate portal that buyers use to start their search and their zillow premier agents division zillow has a pulse on buyer demand and the direction of home prices some analysts reasoned that the company might not like what it’s seeing “is it possible that zillow is seeing something in their data…that maybe on the margin makes them a little bit nervous about holding inventory right now” said tom white an internet research analyst with da davidson if zillow indeed does expect home prices to cool perhaps in response to rising mortgage rates it could be taking a step back to let the market reach its equilibrium and avoid notching too many losses particularly given the lengthy turnaround times on renovation projects today could regulatory scrutiny be the cause zillow’s homebuying operations aren’t popular with everyone last month a series of videos on tiktok from a nevada realestate agent went viral claiming that zillow and its competitors were manipulating the housing market those claims were quickly disputed by realestate experts since no ibuyer has enough market share to truly move the needle where home prices are concerned but that doesn’t mean the companies are escaping scrutiny zillow still faces an antitrust lawsuit from techbased realestate broker real estate exchange rex and the federal trade commission has reportedly reopened its review of zillow’s acquisition of realestate listings service showingtime “zillow’s showingtime acquisition invited regulators under the hood and there’s been industry pushback tied to perceptions that ibuyers are inflating market prices for their own benefit so could there be an external force triggering a pause” campbell said “unfortunately for zillow and ibuyer investors in general the answer to these questions might not rise to the surface until later this year and possibly into next year” he added | 0 |
goldman sachs named the three global companies it expects to benefit from the german governments plan to spend nearly half a trillion euros on renewable energy infrastructure the german government announced draft legislation earlier this month potentially serving as a template for the rest of europe that aims to protect its companies from high energy prices in the future several industries in germany last year had to halt production due to soaring energy prices caused in large part by russias invasion of ukraine the proposed measures include a 2030 target to have 80 renewable energy and cheaper financing for developers of clean energy sources through green bonds the german state subsidies are also seen as a response to the heavy investment kickstarted by the us inflation reduction act goldman sachs has estimated that this german plan will create investment opportunities worth nearly 400 billion euros 440 billion in clean energy and power grid infrastructure the wall street bank said three major companies with significant exposure in germany are set to benefit from this ambitious plan rwe goldman sachs said rwe a renewable energy generator could accelerate the development of clean energy projects and capture a market share equivalent to its current installed base globally that would imply 1025 gigawatts of power generation capacity being built over the next 10 years according to the investment bank this would increase adjusted earnings by 17 annually between 202227 the consensus price target of analysts compiled by factset points to a 23 upside for the stock over the next 12 months rwede 1y line eon the company has previously said that the new german legislation supporting electrification efforts across the economy could lead to new growth opportunities beyond eon s base case scenario the power distribution giant recently upgraded its investments in building out its network by 30 and has estimated midsingledigit annual compounded growth for earnings per share until 2027 shares of the 34 billion marketcap company have risen by more than 50 since late last year however the average price target of analysts indicates the stock is valued fairly at current levels eoande 1y line meyer burger global engineering firm meyer burger also stands to win with germanys shift toward renewables according to goldman sachs the company stands at an advantage as rising solar orders and potential incentives introduced under the european unions netzero industry act will help develop domestic supply chains within europe the swiss company operates production facilities in the photovoltaic industry this week it launched solar tiles meant for roof coverings in europe goldman sachs added that the uss ira and europes repowereu initiative would also be a tailwind for the companys growth plans the solar industry is projected to grow threefold to about 115 gigawatts of installations over the next five years across the two continents the consensus price target of analysts compiled by factset points to a 47 upside for the stock over the next 12 months mbtnch 1y mountain cnbcs michael bloom contributed to this report | 0 |
shares of pinnacle west capital corp pnw inched 033 higher to 8106 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 093 to 433893 and the dow jones industrial average djia rising 056 to 3406633 pinnacle west capital corp closed 057 below its 52week high 8163 which the company achieved on april 6th the stock outperformed some of its competitors monday as nextera energy inc nee fell 012 to 7398 southern co so fell 059 to 7084 and dominion energy inc d fell 111 to 5250 trading volume 618405 remained 71563 below its 50day average volume of 689968 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
the price war in china for electric vehicles is intensifying after xpeng introduced major price cuts in the world’s biggest ev market xpeng ticker xpev lowered the sticker on its g3i base models by 125 or about 22000 bowing to pressure after tesla tsla announced price cuts earlier this month other competitors including mercedesbenz mbggermany have also recently slashed prices | 0 |
shares of colgatepalmolive co cl slid 119 to 7573 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 115 to 437841 and the dow jones industrial average djia rising 063 to 3392674 this was the stocks third consecutive day of losses colgatepalmolive co closed 808 short of its 52week high 8381 which the company reached on august 19th the stock underperformed when compared to some of its competitors tuesday as procter gamble co pg rose 095 to 15002 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of dte energy co dte shed 071 to 11340 thursday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 138 to 409041 and dow jones industrial average djia falling 126 to 3369685 dte energy co closed 2683 below its 52week high 14023 which the company reached on april 21st the stock demonstrated a mixed performance when compared to some of its competitors thursday as nextera energy inc nee fell 162 to 7569 southern co so fell 136 to 6586 and dominion energy inc d fell 026 to 5810 trading volume 12 m eclipsed its 50day average volume of 11 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
just talking to just kind of these markets here right now and obviously theres been this sort of big rush on the back of chinas once they steered away from covid zero theyre pivoting towards you know stimulating and coming to growth now were focusing more on growth now youre seeing markets are just basically going i mean continuing to trade this story im just wondering is it too late to join this rally no no no i wouldnt think so you see if you just look at it from a pure valuation point of view it came from absolute crisis levels you know a peg ratio of zero point six zero point seven very very low right now youre just or you know zero point eight i think you are in deep just just historically the last 10 years or so youre talking one or so so yes of course part of that really has since materialized but we havent actually normalized on on on on any of these or on any of these data so i would recommend us to stay of course so but to what extent is this a reopening story or should i say you know a normalization of the chinese economy now been priced in has it been priced in too quickly i think the fundamental point here i dont think it has been priced into quickly because it doesnt look like like theres any stopping us does opening our data the openings is probably compared to other countries other economies even even quicker so you cannot really doubt it i didnt also yes of course the way to market is up in the last just to over a month is is very very impressive but but if you take a step back and look at what happened in the last two years right the picture looks quite different and also if you consider that the chinas video only market that virtually comes out of a recession or at least a very very slow growth versus everybody else or many other countries economies going going in there first so you know why why would you not write this ready further so how are you advising your clients now is it still focused on mainland markets do you chase exporters in north asia that could benefit from this reopening do you look at energy plays tourism plays and whats whats your sort of position thats true several of these reopening place have covid astounding really although again especially if you look at the same h shares or adr names they could normally trade museums still would argue easily that that theres more and more upside so we have what we call a reopening basket that should do better than the index is still is this macro place on internet in there it is of course materials stats that steve covid stuart kevin cirilli property side so so diversified we have fear and there are some foreign listed stocks as well theyre not actually mainland stocks but they have high exposure to china so we have some of those but are more and more were also looking at what could be the next step when wendy opening direct opening proxies getting more and more explored so here we think of dipping a toe again into green or especially i should say upstream solar because theres not we opening play certainly but i polysilicon prices falling etc and then if investors want to stay in china they will look for something to rotate that could be one of the next likes also i mean you got to look at the sort of ripple effect havent you but some of those countries which are good is a big big leaps in that tourist income im talking chiefly of countries like thailand thats let so given tensions with japan as well and how they benefit yes that naturally i mean you mentioned tyler underage its certainly on the on the tourism side although i would also say here that these stocks have to some extent responded so its not completely undiscovered but but more to go i mean the tourists havent even come yet vessel shouldnt also give give up on this just too early what else also beneficiaries outside china for sure how old i guess the tannery opening story is certainly one that has legs as you say im just wondering the fed story right up is an aggressive fed still gonna be the biggest dominant theme for asian stocks this year and how confident are you that the fed is going to downshift ok so in terms of set pass id say were were probably not too far out of consensus we have another two hikes this quarter or so and then and then the sort of plateauing where we do differ though i guess is for more for the second half what we see the fed actually succeeds but as i said in terms of breaking inflation also the labor market yes so we have a five and a half percent unemployment thats possibly higher than than whats consensus looking for so thats the side effect the negative side effect that leads to a recession where we think that respond got to respond more quickly on the downside so we actually defense front target rates probably lowered and then what most of the market participants have so in that sense you could say maybe isnt that the positive story well possibly but in terms of the the earnings downdraft that you have yet to see there we think consensus is by far too optimistic i mean were looking for for for quite a bit of downside here on the earnings and that isnt fully digested in fact the the the us i would argue is the only market you know many countries get recession but the us is the market it hasnt priced one in others half so we actually underweight the us right now | 0 |
shares of paccar inc pcar rose 308 to 10225 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 119 to 401981 and the dow jones industrial average djia rising 076 to 3362956 this was the stocks second consecutive day of gains paccar inc closed 493 short of its 52week high 10718 which the company achieved on november 23rd editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of cgi inc cl a giba inched 024 higher to c13155 tuesday in what proved to be an otherwise allaround poor trading session for the canadian market with the sptsx composite index gsptse falling 001 to 2027576 cgi inc cl a hit a new 52week high surpassing its previous peak of c13131 which the company reached on april 3rd trading volume of 229880 shares remained below its 50day average volume of 404725 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
electric truck maker rivian automotive reports fourthquarter numbers on thursday analysts are getting more conservative going into the earnings report on tuesday barclays analyst brian johnson cut his rivian ticker rivn price target all the way to 47 a share from 115 he kept his hold rating on shares rising prices for just about everything led johnson to cut his profit margins targets for the coming couple of years | 0 |
actividades de construccion y servicios sa said thursday that it bought atlantia spas stake in german construction company hochtief ag leading the latters shares to jump madridbased acs said it added atlantias 145 stake in hochtief for 5778 million euros 5767 million meaning its shareholding now stands at around 68 excluding treasury stock acss purchase was at eur5143 an hochtief share the company added at 1205 gmt hochtief shares were up 70 on the news while acs stock rose 10 atlantia was previously the secondlargest shareholder in hochtief and has recently offloaded some of its key investments including completing the sale of tollroad operator aspi in may for around eur820 billion the italian infrastructure operator is also being pursued for a takeover by the benetton family and usbased fund blackstone inc | 0 |
shares of allegion plc alle rallied 232 to 10770 tuesday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 040 to 382414 and dow jones industrial average djia falling 003 to 3313637 allegion plc closed 2582 below its 52week high 13352 which the company achieved on january 5th trading volume 641062 remained 8779 below its 50day average volume of 649841 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of thomson reuters corp tri dropped 127 to c15572 thursday in what proved to be an allaround poor trading session for the canadian market with the sptsx composite index gsptse falling 146 to 1960063 thomson reuters corp closed c410 short of its 52week high c15982 which the company achieved on december 13th trading volume of 353221 shares remained below its 50day average volume of 416902 | 0 |
shares of amgen inc amgn slipped 094 to 28965 wednesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 208 to 374857 and dow jones industrial average djia falling 195 to 3251394 the stocks fall snapped a threeday winning streak amgen inc closed 702 below its 52week high 29667 which the company reached on november 8th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as johnson johnson jnj fell 080 to 17245 roche holding ag part cert rhhvf rose 019 to 32598 and pfizer inc pfe fell 133 to 4672 trading volume 35 m eclipsed its 50day average volume of 28 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
benzingas premarket prep airs every morning from 89 am et during that fastpaced highly informative hour traders and investors tune in to get the major news of the day the catalysts behind those moves and the corresponding price action for the upcoming session | 0 |
shares of verisk analytics inc vrsk rose 145 to 21447 wednesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 045 to 413764 and the dow jones industrial average djia falling 009 to 3353133 this was the stocks second consecutive day of gains | 0 |
regions financial nyserf is set to give its latest quarterly earnings report on friday 20211022 heres what investors need to know before the announcement analysts estimate that regions financial will likely report an earnings per share eps of 052 regions financial bulls will hope to hear the company to announce theyve not only beaten that estimate but also to provide positive guidance or forecasted growth for the next quarter new investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock but the guidance or forecast last quarter the company beat on eps by 4808 which was followed by a 00 drop in the share price the next day heres a look at regions financials past performance and the resulting price change shares of regions financial were trading at 2352 as of october 20 over the last 52week period shares are up 7112 given that these returns are generally positive longterm shareholders should be satisfied going into this earnings release if you want to track all upcoming earnings announcements check out our earnings calendar here | 0 |
shares of canadian apartment properties real estate investment trust un carut advanced 175 to c5570 tuesday in what proved to be an allaround favorable trading session for the canadian market with the sptsx composite index gsptse rising 030 to 2207435 canadian apartment properties real estate investment trust un closed c707 short of its 52week high c6277 which the company reached on september 9th trading volume of 930757 shares eclipsed its 50day average volume of 469517 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of cvs health corp cvs rallied 197 to 8554 wednesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 085 to 448070 and the dow jones industrial average djia rising 068 to 3481439 cvs health corp closed 507 below its 52week high 9061 which the company achieved on may 24th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as walgreens boots alliance inc wba rose 394 to 5012 and cigna corp ci rose 144 to 20658 trading volume 62 m eclipsed its 50day average volume of 52 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
don’t expect stockmarket gains in 2022 if the federal reserve sticks to its guns on rate hikes and tightening overall financial conditions says kyle bass founder and chief investment officer of hayman capital management “with interest rates concurrently with quantitative tightening there’s no way the stock market goes up this year it probably goes down pretty aggressively if they stick to that plan” said bass during an interview with cnbc on thursday late afternoon “i think they are going to have to back away from that plan once they start hiking” the hedgefund manager said bass’s comment come as the dow jones industrial average djia the sp 500 index spx and the nasdaq composite index comp came under pressure and the 10year treasury note tmubmusd10y drew bids driving the benchmark bond yield used to price everything from mortgages to car loans lower on the day and week on thursday a reading of wholesale inflation the producerprice index receded but still held around 97 yearoveryear compared with a nearly 40year high of 98 in the prior month the ppi report came a day after the consumerprice index for december showed the headline yearoveryear inflation rate also up near a 40year high of 7 the moves in inflation even if the recent data suggest that pricing pressures may be peaking are compelling the federal reserve to tighten financial conditions rapidly to defuse an inflation buildup deutsche bank db economists expect four hikes in 2022 starting in march while economists at goldman sachs group inc gs raised their forecast for 2022 rate increases to four from three during the confirmation hearing in front of a senate finance panel fed gov lael brainard said the ratesetting federal open market committee “has projected several hikes over the course of the year” read lael brainard says inflation is ‘too high’ the fed will work to bring it down a liftoff in benchmark interest rates will come after the fed ends its tapering of asset purchase and may come as it shrinks its nearly 9 trillion asset portfolio which it had accumulated in support of the market during the height of the pandemicinduced disruptions that began in earnest back in march of 2020 “we will be in a position to do that as soon as asset purchases are terminated and we will simply have to see what the data requires over the course of the year” she told the senate banking committee on thursday all that is expected to serve as a headwind to swaths of speculative assets because higher rates translate to higher borrowing costs and can erode the future earnings of companies such as those in technology see why a falling dollar signals ‘markets are in wonderland’ over inflation and fed for his part bass sees the market facing significant challenges and doubts that the central bank will have the conviction to raise rates substantially without push back from the markets bass is widely known as an oftenbearish hedgefund manager who won big during the global financial crisis and who also has focused on economic developments in asian markets | 0 |
goldman sachs is scheduled to report secondquarter earnings before the opening bell monday earnings 658 per share according to refinitiv will goldmans traders do well enough to offset weak investmentbanking results thats the question after a mixed series of bank reports so far rivals including jpmorgan chase and morgan stanley posted steep declines in secondquarter advisory revenues but another wall street competitor citigroup saw a 25 jump in trading revenue that helped it top profit expectations goldman tends to outperform other banks during periods of high volatility which could help the firm but it is also one of the biggest corporate advisors on wall street and the slowdown in ipos and mergers has been widespread the bank also tends to benefit from rising asset prices through its various investment vehicles and so broad declines in financial assets could sting the firm jpmorgan and wells fargo each posted writedowns tied to declines in loan books or equity holdings analysts will be keen to ask solomon how the deals pipeline looks for the remainder of 2022 and if mergers and ipos are being killed or merely pushed back into future quarters goldman shares have fallen 23 this year through friday worse than the 16 decline of the kbw bank index last week jpmorgan and wells fargo posted secondquarter profit declines as the banks set aside more funds for expected loan losses while morgan stanley disappointed after a biggerthanexpected slowdown in investment banking citigroup was the sole firm to top expectations for revenue as it benefited from rising rates and strong trading results this story is developing please check back for updates | 0 |
shares of canadian pacific railway ltd cp rose 311 to c9381 tuesday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 006 to 2123652 the stocks rise snapped a threeday losing streak canadian pacific railway ltd closed c619 below its 52week high c10000 which the company reached on june 2nd trading volume of 31 m shares eclipsed its 50day average volume of 22 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of intuit inc intu slumped 061 to 42694 monday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 016 to 397753 and the dow jones industrial average djia rising 060 to 3243208 this was the stocks second consecutive day of losses intuit inc closed 8077 below its 52week high 50771 which the company achieved on april 4th the stock underperformed when compared to some of its competitors monday as adobe inc adbe fell 048 to 37315 paychex inc payx rose 022 to 10908 and oracle corp orcl rose 242 to 9014 trading volume 17 m eclipsed its 50day average volume of 17 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
pfizer inc’s pfe 54 billion acquisition of global blood therapeutics inc gbt is the latest sign that cashflush drug makers are ready to jump back into dealmaking that deal was announced just days after amgen inc amgn said it plans to buy chemocentryx inc ccxi for 37 billion in cash and amid media reports that merck co inc mrk is making plans to buy seagen inc sgen for about 40 billion these deals hint at an actionpacked second half though pharmaceutical and life sciences companies spent about 61 billion on deals in the first six months of the year pharma deal activity is down 30 on a semiannualized basis according to pwc many signs point to a changing mergerandacquisition ma landscape for the rest of this year as drug makers take steps to shore up their pipelines in advance for the generic competition that’s coming this decade “2022 will be a year of bolton transactions in the 5 billion to 15 billion range” the pwc authors wrote “however don’t rule out the potential for larger deals — consolidation is good for the health ecosystem and drives broader efficiency” the spdr sp pharmaceuticals exchangetraded fund xph has rallied 132 over the past three months and slipped 64 year to date while the sp 500 index spx has gained 31 the past three months and dropped 137 this year the biggest deal so far this year is pfizer’s 116 billion acquisition of biohaven pharmaceutical holding co ltd bhvn in cash that deal is expected to add 6 billion in peak sales to the business pfizer which has generated billions of dollars of sales of its covid19 antiviral and the vaccine it developed with biontech se bntx had about 24 billion in cash on hand as of april 3 according to securities filings “we’re leaving very few stones unturned when we look at opportunities and our focus is going to be consistent” aamir malik pfizer’s chief business innovation officer told investors on the company’s last earnings call “it’s on scientific substrate that has the potential breakthrough for patients deals that accelerate our topline growth in the back half of the decade and then opportunities where we can add substantial value whether that’s through our scientific chops andor our commercial capabilities” analysts also expect more deals out of amgen with sp global ratings predicting the company will spend between 2 billion and 4 billion each year the company has about 52 billion in cash that said there are still some big unknowns for pharmaceutical companies including legislation that is expected to pass this week that would allow the us government to negotiate drug prices and a federal trade commission that is paying close attention to pharmaceutical ma “access to medicine is already imperiled by untenable costs” ftc commissioner rebecca kelly slaughter said in june according to biopharma dive “when mergers diminish competition in pharmaceutical markets the result is higher prices” | 0 |
china’s gross domestic product rose less than expected in the third quarter of the year as government action to curb debt in the property sector and power cuts ordered by authorities to deal with the energy crisis took their toll on the economy gdp increased by 49 in the three months ended in september compared with the same period of 2020 china’s national bureau of statistics said monday analyst polled by reuters had forecast a 52 expansion | 0 |
michael r dumais an insider at baker hughes bkr reported a large insider buy on july 25 according to a new sec filing what happened a form 4 filing from the us securities and exchange commission on monday showed that dumais purchased 10000 shares of baker hughes the total transaction amounted to 243900 baker hughes shares are trading down 041 at 243 at the time of this writing on tuesday afternoon now trade stocks online commission free with charles schwab a trusted and complete investment firm insider transactions shouldnt be used primarily to make an investing decision however an insider transaction can be an important factor in the investing decision in legal terms an insider refers to any shareholder who owns at least 10 of a company this can include executives in the csuite and large hedge funds these insiders are required to let the public know of their transactions via a form 4 filing which must be filed within two business days of the transaction when a company insider makes a new purchase that is an indication that they expect the stock to rise insider sells on the other hand can be made for a variety of reasons and may not necessarily mean that the seller thinks the stock will go down investors prefer focusing on transactions that take place in the open market indicated in table i of the form 4 filing a p in box 3 indicates a purchase while s indicates a sale transaction code c indicates the conversion of an option and transaction code a indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company check out the full list of baker hughess insider trades this article was generated by benzingas automated content engine and reviewed by an editor | 0 |
san diego feb 02 2022 globe newswire the shareholders foundation inc announces that a lawsuit is pending for certain investors in lightspeed commerce inc lspd shares investors who purchased shares of lightspeed commerce inc lspd have certain options and should contact the shareholders foundation at mailshareholdersfoundationcom or call 1858 779 1554 on november 16 2021 a lawsuit was filed against lightspeed commerce inc over alleged securities laws violations the plaintiff alleges that the defendants made false andor misleading statements andor failed to disclose that lightspeed had misrepresented the strength of its business by inter alia overstating its customer count gross transaction volume gtv and increase in average revenue per user arpu while concealing the companys declining organic growth and business deterioration that lightspeed had overstated the benefits and value of the companys various acquisitions that accordingly the company had overstated its financial position and prospects and that as a result the companys public statements were materially false and misleading at all relevant times those who purchased lightspeed commerce inc lspd shares should contact the shareholders foundation inc contact shareholders foundation inc michael daniels 1 858 7791554 3111 camino del rio north suite 423 san diego ca 92108 the shareholders foundation inc is a professional portfolio legal monitoring and a settlement claim filing service which does research related to shareholder issues and informs investors of securities class actions settlements judgments and other legal related news to the stockfinancial market the shareholders foundation inc is not a law firm any referenced cases investigations andor settlements are not filedinitiatedreached andor are not related to shareholders foundation the information is only provided as a public service it is not intended as legal advice and should not be relied upon thousands of new traders are learning the ins and outs on how to find profitable trades every day with benzinga trading school click here now to start your free trial no credit card required if you are not using this trading strategy you are leaving money on the table if you are blindly looking up and trading stocks the way 99 of traders are you are missing on huge potential returns even new traders who started following this option trading strategy instantly began seeing returns they wouldnt have had otherwise with even two trades per month with this strategy you will start seeing the difference in your trading account dont waste any more time guessing and getting lucky click here to see if you qualify for benzinga options for today only we are gifting away our benzinga options starter newsletter for only 7 this includes two heavily researched trades per month from lead trader nic chahine for the same cost of a cup of coffee less than the cost of a netflix subscription and less than the average order at mcdonalds you will receive toptier education and winning trade alerts to maximize your portfolio returns this also includes a 14day full moneyback guarantee if you cancel there is absolutely no risk click here now to get started | 0 |
shares of discovery inc series a disca shed 529 to 2828 tuesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 101 to 430476 and dow jones industrial average djia falling 142 to 3359661 this was the stocks second consecutive day of losses discovery inc series a closed 4986 short of its 52week high 7814 which the company achieved on march 19th the stock underperformed when compared to some of its competitors tuesday as walt disney co dis fell 216 to 14809 comcast corp cl a cmcsa rose 064 to 4694 and amc networks inc cl a amcx fell 242 to 3757 trading volume 107 m eclipsed its 50day average volume of 90 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
the numbers a key barometer of american factories was negative in march for the fifth month in a row reflecting an ongoing struggle by a key part of the us economy to resume growth again the institute for supply management’s manufacturing survey dropped to 463 from 477 in prior month marking the lowest level since may 2020 as the pandemic closed much of the economy numbers below 50 signal the manufacturing sector is contracting the last time the index has fallen five months in a row was in 2019 during a trade fight with china the ism report is viewed as a window into the health of the economy economists polled by the wall street journal had forecast the index to total 473 big picture manufacturers have battled supply shortages high inflation and rising interest rates over the past year while the shortages are clearing up and inflation is slowing interest rates are still rising and boosting the odds of recession both in the us and abroad as a result the nearterm outlook for manufacturers is still quite cloudy market reaction the dow jones industrial average djia and sp 500 spx rose in monday trades | 0 |
cann american corp cnna a holding company specializing in the development of alternative therapeutics recently finalized its acquisition of liberty health plus marking a significant milestone for the company in addition to the completion of the acquisition the company announced the appointment of michael kramer founder of liberty health plus to its board of directors one of the key offerings from the newly acquired liberty health plus now rebranded as prodigy health plus is its collaboration with careington international corporation together they provide accessible and costeffective access to a range of nationally recognized products including dialcare services and liberty health plus rx according to a press release “the current operations of liberty health plus now prodigy health plus already capturing multimilliondollar market share through services administered by careington which had revenue of 3738 million in 2022 allows affordable access to a variety of nationally established products including dialcare physician access dialcare mental wellness dialcare teledentistry dialcare virtual vet as well liberty health plus rx” cann american provides hempbased cbd supplements for dogs cats and horses prodigy health plus rx stands out as the nations first free pharmacy offering members access to 605 commonly prescribed generic medications at no cost this membershipbased plan enables individuals to obtain their prescriptions from a network of 64000 pharmacies nationwide including wellknown chains such as walgreens cvs pharmacy walmart pharmacy rite aid and albertsons looking ahead cann american corp anticipates the launch of the new prodigy health plus website within the next 10 days this platform aims to enhance the user experience and provide seamless access to the companys innovative healthcare solutions in parallel the company has diligently provided all required documentation financial information and contracts to its auditor as part of an ongoing audit process the auditor is currently engaged in comprehensive due diligence with a target completion date set for this week once the review is finalized filings will be approved for upload before june 1st ensuring compliance and transparency within the next few weeks we will be revealing several significant updates that the company has withheld during the completion of the lengthy audit process said cann american ceo jason tucker the company wishes to express its gratitude to all of those that have supported us during this transition and we firmly believe we will achieve otcqb status exponentially increasing shareholder value this year price action on wednesday after the bell cnna shares closed 581 higher at 00046 per share | 0 |
shares of albemarle corp alb advanced 334 to 22239 tuesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 105 to 434572 and the dow jones industrial average djia rising 092 to 3431467 the stocks rise snapped a twoday losing streak albemarle corp closed 3071 below its 52week high 25310 which the company reached on september 10th the stock outperformed some of its competitors tuesday as wr grace co gra rose 003 to 6999 avient corp avnt rose 189 to 4806 and basf se adr basfy fell 074 to 1869 trading volume 10 m remained 261488 below its 50day average volume of 13 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of marsh mclennan cos mmc slumped 011 to 16388 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 053 to 401232 and the dow jones industrial average djia rising 033 to 3315391 marsh mclennan cos closed 1926 short of its 52week high 18314 which the company reached on april 21st the stock demonstrated a mixed performance when compared to some of its competitors thursday as accenture plc cl a acn rose 059 to 27123 chubb ltd cb fell 060 to 20860 and american international group inc aig fell 058 to 6031 trading volume 12 m remained 382798 below its 50day average volume of 16 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
shares of resmed inc rmd slipped 054 to 20577 wednesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 120 to 378322 and dow jones industrial average djia falling 110 to 3287571 this was the stocks fourth consecutive day of losses resmed inc closed 5768 short of its 52week high 26345 which the company achieved on december 31st trading volume 415280 remained 135511 below its 50day average volume of 550791 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use | 0 |
sosandar plc said wednesday that it is planning to raise up to 45 million pounds 54 million via a share placing and will use the money to capitalize on the opportunities in its markets and to accelerate future growth the uk online womens fashion brand said it is issuing up to 182 million new ordinary shares at 22 pence each a 17 discount to tuesdays closing price of 2640 pence in addition the company is offering up to 23 million new ordinary shares at the same price via retail offer specifically sosandar said it will use the money to accelerate the execution of its omnichannel strategy through further investment in stock enabling increased provision of sosandars product range instore with third party partners including sainsburys from autumn winter 2023 onwards the money will also create further balance sheet headroom to fast track other growth initiatives as well as enable accelerated investment in its customer acquisition model | 0 |
chicago federal reserve president charles evans said thursday he expects the equivalent of six more 25 basis point increases in the central bank’s policy interest rate by the end of the year and three more next year those increases would put the fed funds rate in a range of 275 – 3 by the end of 2023 “this is a bit over the median longerrun estimate of 24 and so it represents a slightly restrictive policy stance” evans said in a speech to the detroit regional chamber since last summer inflation has broadened out to a wide range of goods and services evans said “this is a signal of more general pressure from aggregate demand on today’s impinged supply” evans said if the fed did not respond the public will come to expect higher inflation and the fed “would have even harder work to do to rein it in” he said us stocks djia spx opened higher on thursday the yield on the 10year treasury note tmubmusd10y rose to 2362 | 0 |
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