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Club holding Wells Fargo will post quarterly results on Friday, followed by our other financial holding, Morgan Stanley, on Tuesday. In theory, higher borrowing costs mean Wells Fargo can generate more money from those interest-earning assets, but it's not that simple. It's hard to say with the fluid inflation and rate expectations whether Wells Fargo might change its NII outlook when it reports on Friday. Wells Fargo also has a key long-term growth prospect in the potential removal of its $1.9 trillion Fed-imposed asset cap. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.
Persons: Morgan Stanley, We're, Jim Cramer, Wells, Wells Fargo's, Mike Santomassimo, Santomassimo, Jim said, Jim, Wells Fargo, Charlie Scharf, Charlie's, He's, Morgan, there's, Jefferies, Reddit's, James Gorman, Ted Pick, Jim Cramer's Organizations: Club, Silicon Valley Bank, UBS, Investment, JPMorgan, Jefferies, Discover, Wall Street, Amer Sports, Astera Labs, Reddit's, New York Stock Exchange, Street Journal, CNBC Locations: Wells, Silicon, Wells Fargo, Capital, Wilson, Morgan, New York City, U.S
The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. The large numbers mean Filipinos are disproportionately exposed to the dangers posed by Houthis targeting ships in the Red Sea. Two Filipino crew members remain in Djibouti to receive medical treatment. Most of the Filipino crew members on board returned to Manila on Tuesday, reuniting with their families after their ordeal at sea. It’s very painful for us, especially for the families,” Mark Dagohoy, one of the ship’s crew members, told journalists after their return.
Persons: It’s, “ There’s, , Eduardo de Vega, Israel, Houthis, , Al, ” Houthi, Nasr Al, Din Amer, De Vega, de Vega, They’re, Mohammed Al, it’s, Ray Car, Abraham Ungar, Eloisa Lopez, Houthi, Yahya Sarea, ” Mark Dagohoy, Celine Alkhaldi, Paul P, Murphy Organizations: CNN, Galaxy Leader, Houthi Military Media, Reuters, Philippines, Yemeni, Nippon, Ray, Ray Car Carriers, Ambrey Analytics, Ambrey, Indian Navy, Manila International Airport, , Liberian, Financial Times, Oaktree Locations: Filipino, Gaza, Red, Romanian, Iran, Yemen, Cairo, Philippines, Aden, Saudi, Hodeidah, Suez, Africa, Bab, Mandab, United States, Britain, Djibouti, Manila
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmerging markets have taken a step back on China pressure, analyst saysAmer Halawi, head of research at UAE-based brokerage and investment firm Al Ramz PJSC, outlines valuation opportunities in Middle East markets and the Gulf's top performers.
Persons: Amer Halawi, Al Ramz PJSC Organizations: UAE Locations: China, Middle East
Declining foreign investment and a prolonged property slump are just some of the issues that have put pressure on the Chinese economy — and stock market. We're still relatively underweight China, but we've been reducing that underweight [as] some of the stocks there have become really, really cheap." China Market Research Group's Shaun Rein agrees. "If you're a multinational, if you're looking to drive growth over the next three to five years, the next China is China. Shares in Fufeng are held in the iShares MSCI China Small-Cap ETF , while Xinyi Glass shares are held in the Franklin FTSE Hong Kong ETF and SPDR S & P China ETF .
Persons: Kamil Dimmich, CNBC's, we've, Shaun Rein, it's, Salomon, Arc'teryx, Dimmich Organizations: Shanghai, South Capital, Research, Amer Sports, New York Stock Exchange, Stock, Fufeng Group, Ford, General Motors, Hong Kong Stock Exchange, Xinyi, Franklin FTSE, Franklin FTSE Hong Kong ETF Locations: China, It's, India, Vietnam, Franklin FTSE Hong
In fiscal 2023, the company lost $208.8 million, but its losses narrowed from $230.9 million in fiscal 2022. Between 2020 and 2022, Amer grew sales in the region from 8.3% of total revenue to 14.8%. Sales in Greater China jumped by 45% and all three of the company's segments saw "solid growth." In 2023, sales in Europe, the Middle East and Africa represented about 33% of total revenue, down from 36% in 2022. North America made up about 39.5% of sales in 2023, down from 42.4% of sales in 2022.
Persons: Wilson, Amer, Salomon, Sellers, China's, Amer's, James Zheng, Zheng, it's Organizations: Amer Sports, New York Stock Exchange, Lousiville Slugger, CNBC, Wall, FountainVest Partners, Anamered Investments, Revenue Locations: Amer, New York City, U.S, China, Wilson, Louisville, Helsinki, Finnish, Greater China, Asia, Europe, East, Africa, North America, APAC
Earlier in the session, the conglomerate's stock reached all-time highs, following strong operating earnings in its fourth quarter. Pilgrim's Pride — Shares climbed 6.2% after the meat processing company beat Wall Street's expectations for the fourth quarter. Amer Sports — The athletic retailer climbed 3% on the back of a slew of bullish calls from Wall Street analysts. Fresh Del Monte Produce — Shares fell 2% after the agriculture company reported quarterly results that fell short of expectations. Revenue of $1.01 billion was lower than the consensus estimate of $1.03 billion.
Persons: Berkshire Hathaway —, Morgan Stanley, Pilgrim's, FactSet, Wilson, Arc'teryx, — CNBC's Brian Evans, Michelle Fox, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Berkshire, U.S . Securities, Exchange Commission, Amer, Wall Street, Micron Technology, , HSBC, Alcoa —, Alcoa, Fluence Energy, Susquehanna Financial, Produce, FactSet, PPG, PPG Industries Locations: FactSet ., U.S, Canada
Roach is even more bullish than many on Wall Street with a price target of $21 per share. Like many peers on the Street, she sees the company getting a boost from market share growth and an expansion of direct-to-consumer. Multiple analysts deemed Arc'teryx the "crown jewel' of Amer's portfolio. Though Arc'teryx provides a key reason for bullishness, analysts also have their eyes on other well-known brands in the portfolio. "But, the business faces an uncertain 1H24 wholesale backdrop, & comes with single-segment growth & profitability expansion reliance, multi-brand portfolio volatility risk, & high relative leverage levels."
Persons: Wilson, Arc'teryx, FactSet, Goldman Sachs, Brooke Roach, Roach, She's, Amer, Lorraine Hutchinson, Matthew Boss, Paul Lejuez, Salomon, Baird, Jonathan Komp, Amer's, Jay Sole, Morgan Stanley, Alex Straton, Straton Organizations: Amer, New York Stock Exchange, DTC, Bank of America, Amer Sports, Citi, UBS Locations: China
Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model.
Persons: Goldman Sachs, Goldman, Morgan Stanley, Salesforce, Rosenblatt, Jefferies, Amer, Wells, Jane Fraser, Roth MKM, Roth, TD Cowen, TD, DA Davidson, OW, Fannie Mae, KBW, Freddie, Truist, it's, Piper Sandler, Piper, Bentley Organizations: Nvidia, BMO, Apollo, Amer Sports, Citi, Citigroup, Bank of America, KKR, APO, BJ's Wholesale, D.A, Susquehanna, Energy, HSBC downgrades Moderna, HSBC, Moderna, Google, YouTube, " Bank of America, Omega Healthcare, Sun, DuPont's Mobility, JPMorgan, Navy, Bentley Systems Locations: USD75, Asana, ASAN
HashiCorp — Shares of the software company popped 8% on the back of an upgrade by Morgan Stanley to overweight from equal weight. Berkshire Hathaway — Class B shares of Warren Buffett's conglomerate climbed nearly 3% on the back of a nearly 30% year-over-year surge in operating earnings for the fourth quarter. Monday.com — Shares ticked up 2% after Bank of America initiated the coverage of the cloud platform company with a buy rating. Fluence Energy — Shares added more than 5% after an upgrade to positive from Susquehanna Financial. Amer Sports — Shares popped 6% following a slew of positive initiations for the athletic company, which manufacturers the Wilson tennis racket.
Persons: HashiCorp, Morgan Stanley, Monday.com, Michael J, Funk, Biju Perincheril, Wilson, Amer Sports, Goldman Sachs, , Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Berkshire Hathaway —, Warren, JPMorgan, Bank of America, Fluence Energy, Susquehanna Financial, HSBC, Amer, Citi
Donald Trump's fraud verdict targets three things he values dearly: his cash, his New York business address, and the Trump Organization steering wheel. Otherwise, as Engoron noted in his verdict, Trump, his company, and his sons, Donald Trump Jr. and Eric Trump, "are likely to continue their fraudulent ways." In previous years, Trump has settled allegations of fraud involving the Trump Foundation, Trump University, and the 2017 Inaugural Committee, Amer pointed out in closings. The same day James concluded her initial investigation and filed her massive Trump fraud lawsuit, on September 21, 2022, Trump incorporated "Trump Organization II" in what her office worried was an attempt to shift and protect assets. Advertisement"In short," they added, Trump and Trump Organization leadership "have proven themselves incapable, time and again, of following the law."
Persons: Trump, Donald Trump's, , he's, Letitia James, Arthur Engoron, James, he'll, Barbara Jones —, Judge Jones, Jones, Engoron, Donald Trump Jr, Eric Trump, Cushman, Trump's, Allen Weisselberg, Patrick Birney, Birney, Weisselberg, Donald, — Trump, Andrew Amer, Amer, — Jones, Jean Carroll, Kevin Wallace, Christopher Kise, Kise, She's Organizations: NY, Trump Organization, Trump, GOP, New York, Deutsche Bank, Mazars, Trump Org, Trump Foundation, Trump University, New, Independent Monitor Locations: New York, Mazars USA, Wakefield, Trump
Donald Trump, Jr., and Eric Trump are executive vice presidents at the Trump Organization. AdvertisementSince January of 2017, Donald Trump, Jr., and Eric Trump have run their father's real-estate empire as "co-CEOs," as lawyers for New York's attorney general like to call it. "I was focused on pouring concrete," Eric Trump had said in a pre-trial deposition, during which he pleaded the Fifth some 500 times. Like his little brother, Don Trump, Jr., was guarded when called to the witness stand. In the litigation with the New York attorney general's office, Eric Trump and Donald Trump, Jr. have been primarily represented by Clifford S. Robert.
Persons: Donald Trump , Jr, Eric Trump, Don Jr, Eric, , Donald Trump Jr, Arthur Engoron, Trump, Donald Trump, KENA BETANCUR, Letitia James, Engoron, James, Andrew Amer, Amer, that's, It's, Whitley Penn, Don Trump, Jr, David Dee Delgado, Ivanka Trump, Allen Weisselberg, Jeff McConney —, Barron, Tiffany Trump, Clifford S, Robert Organizations: Trump Organization, Service, New, Trump, Getty, Locations: New York, York, AFP, Springs
Smoke billows during Israeli bombardment over Rafah in the southern Gaza Strip on February 12, 2024. In a statement Monday, Hamas condemned what it said was a “horrific massacre” by Israel against civilians in Rafah. ‘The dead are better than us’For the more than one million Palestinians in the southern city, the expected push into Rafah is causing alarm and fear. Rafah is the last major population center in Gaza not occupied by the Israeli military. Olfat Hamdan said she had witnessed dead bodies on the streets of Gaza City, noting that “nobody was able to drag them or move them.”“What have I seen?
Persons: Abu Yousef Al, Rafah’s, Fernando Simon Marman, Louis Har, Nir Yitzhak, Smoke, Said Khatib, Danial Hagari, , Jens Laerke, Benjamin Netanyahu, , Stéphane Dujarric, Israel’s, Netanyahu, Joe Biden “, Israel, ” Netanyahu, We’re, , , ” Mohammad Jamal Abu, Khan Younis, El, ” Mahmoud Khalil Amer, Al, Tal, ” Abdul Kareem Al, Qaseer, Olfat Hamdan Organizations: CNN, Palestine Red Crescent Society, Najjar Hospital, Israel Defense Forces, Israel Security Agency Shin Bet, Police, Getty, UN Office, Humanitarian Affairs, Human Rights, United Nations, UN, United Kingdom, Sunday, UN’s Security, Maxar Technologies, ABC News, IDF, , Hamas, of Health Locations: Palestine, Gazan, Rafah, Shaboura, Gaza, AFP, Sheba Tel Hashomer, Israel, Israeli, Hamas’s, , Aqsa, Qatar, Saudi Arabia, Egypt, United, Saudi, Gaza City, Al Shati, , People, Tal El Hawa, Khan
Living Among the Dead: Gaza Families Seek Shelter in Cemetery
  + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +3 min
"People were forced to come here to this safe place, which is the cemetery among the dead," said Amer, who is displaced from Al-Shati refugee camp in northern Gaza with 11 family members including children and grandchildren. Israel has threatened to storm the area with tanks when it finishes a battle in Khan Younis just north of it. The cemetery has neat rows of low cement graves that pre-date the war, with plants and flowers growing on them, inscriptions and peeling paint. "The dead are in comfort while we, the living, are in pain and going through very tough conditions. "I see the children, our children, playing among and above the graves," said Amer.
Persons: Mohammed Salem, Mahmoud Amer, Amer, Israel's, Khan Younis, Estelle Shirbon, Peter Graff Organizations: Al Locations: Mohammed Salem RAFAH, Gaza, Rafah, Israel, Egypt, Palestinian
DOHA, Qatar (AP) — With China sitting out the first two diving events, other nations got a chance to shine on Day 1 of the World Aquatics Championships. Australia's Alysha Koloi won the women's 1-meter springboard, while the British squad led by Olympic gold medalist Tom Daley claimed gold in the mixed team. At last year's world championships in Fukuoka, China won 12 of 13 events and captured 19 medals in all. Daley, who won a gold medal in the 10-meter synchro at the Tokyo Olympics, claimed his first international title since taking a year-long break from the sport. The other members of the Australian bronze medal team were Li Shixin, Maddison Keeney and Nikita Hains.
Persons: Australia's Alysha Koloi, Tom Daley, Grace Reid, Egypt's Maha Amer, Amer, Daley, Scarlett Mew Jensen, Daniel Goodfellow, Andrea Spendolini Sirieix, Gabriela Agundez Garcia, Randal Willars Valdez, Jahir Ocampo Marroquin, Aranza Vazquez Montano, Cassiel Rousseau, Rousseau, Li Shixin, Maddison Keeney, Nikita Hains, ___ Organizations: China, British, Olympic, Tokyo, Paris Games Locations: DOHA, Qatar, China, Doha, Paris, Fukuoka, Cairo, U.S, Arkansas, Florida, Australia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe best thing I can say about Amer Sports is its had good growth for a couple years: Jim Cramer'Mad Money' host Jim Cramer looks at the latest IPO to hit the market, Amer Sports.
Persons: Jim Cramer Organizations: Amer Sports Locations: Amer
Wilson products at the Paragon Sports store in the Chelsea neighborhood of New York on Jan. 4, 2024. Amer Sports, the Finnish athletic company behind the Wilson tennis racket and Arc'teryx, debuted on the public markets Thursday at $13.40 a share after pricing its IPO at a discount. The offering values Amer at about $6.3 billion, down from a previous valuation of up to $8.7 billion. Amer's decision to discount its IPO came after Federal Reserve Chair Jerome Powell indicated the central bank isn't ready to start cutting rates, casting a pall over market sentiment and the floundering IPO market. Wall Street has been eager to see a resurgence in the IPO market after it grounded nearly to a halt over the past two years, but recent debuts, including from German shoemaker Birkenstock , have been muted and failed to impress.
Persons: Wilson, Amer, Jerome Powell, Birkenstock Organizations: Paragon Sports, Wilson, New York Stock Exchange Locations: Chelsea, New York, Finnish
The IPO market is looking very shaky and confronted with a host of challenges that are holding it back. Regardless, recent IPO performances have been poor across the board. IPO investors cheered the advance by bidding up the Renaissance Capital IPO ETF (IPO), a basket of recent IPOs, in December, assuming the IPO market would open up. CNBC's Jim Cramer, speaking early Thursday on Squawk on the Street , highlighted another obstacle for IPO buyers: investors are getting comfortable returns elsewhere with far lower risk. When David Faber asked why the IPO market was off to such a slow start with the markets so strong, Cramer replied, "I think it's the five percent solution," he said, referring to the ocean of money still sitting in money market funds.
Persons: Jay Powell's, Birkenstock, Smith Douglas, Amer, Greg Martin, Martin, Matt Kennedy, Kennedy, What's, Rainmaker, Del, CNBC's Jim Cramer, David Faber, Cramer Organizations: Amer, Wilson, NYSE, Smith Douglas Homes, BrightSpring, Renaissance Capital, Rainmaker Securities, Renaissance, Microsoft Locations: EBITDA, Squawk
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmer Sports is looking like another out of favor IPO, says Jim Cramer'Mad Money' host Jim Cramer looks at the latest IPO to hit the market, Amer Sports.
Persons: Jim Cramer Organizations: Amer, Amer Sports
Even though the IPO market is heating up, CNBC's Jim Cramer said he thinks it's been "hit or miss" so far. He told investors not to buy Amer Sports, which debuted Thursday at a discount, saying the company has a poor balance sheet. "And, I've got to tell you, Amer Sports is a great example of the kind of deals I wish we weren't seeing." Saddled with $2.1 billion in debt, Amer Sports has a balance sheet that is "less than ideal," according to Cramer. Cramer conceded that Amer Sports has seen decent growth over the last few years, but much of that growth came from sales in China.
Persons: CNBC's Jim Cramer, it's, I've, Wilson, Arc'Teryx, Cramer, Amer Organizations: Amer Sports, Birkenstock, BrightSpring, Amer Locations: Amer, China
Amer Sports debuting on NYSE
  + stars: | 2024-02-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmer Sports debuting on NYSEJames Zheng, Amer Sports CEO, joins 'Money Movers' to discuss the company's decision to go public, the engine of growth among the company's brands, and Amer Sports' growth in China.
Persons: NYSE James Zheng, Amer Organizations: Amer, NYSE James Locations: China
Amer Sports begins trading
  + stars: | 2024-02-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmer Sports begins tradingSteve Weiss, Josh Brown and Sarat Sethi weigh in on their expectations for capital markets amidst the new IPO coming to market.
Persons: Steve Weiss, Josh Brown, Sarat Sethi Organizations: Amer Sports
CNN —A New York state judge has the future of Donald Trump’s business empire in his hands. The civil lawsuit from New York Attorney General Letitia James, a Democrat, is seeking $370 million from Trump and the other defendants (the figure was originally $250 million). The back and forth between the judge, Trump and the former president’s lawyers during the trial was repeatedly heated. “What evidence do you have – I just haven’t seen it – that they knew that there was fraud?” Engoron asked. Furthermore, Trump says, companies like Deutsche Bank wanted to do business with Trump Org.
Persons: Donald Trump’s, Judge Arthur Engoron, Trump, Letitia James, Engoron, What’s, James, , Andrew Amer, Allen Weisselberg, Jeff McConney, Mr, ” Amer, , ” Engoron, Donald Trump Jr, Eric Trump, Ivanka Trump, belittle James, colluding, ” Trump, I’m, “ It’s Organizations: CNN, New York, Democrat, Trump, disgorgement, Trump Organization, Trump Org, Deutsche Bank, Engoron Locations: York, New, Mar, New York, Westchester County , New York
Yet the main IPO ETF, the Renaissance Capital IPO ETF ( IPO ), has been for sale most of the month. "For the IPO market to open up, it would help not to have our IPO ETF down 9%," he said. Forge Global maintains a Private Market Index , a measure of 75 late-stage pre-IPO companies. "This tells you valuations are getting reset in the private market," Ng told me. Can AI save the IPO market?
Persons: Matt Kennedy, Homebuilder Smith Douglas, Don Short, Salomon, Wilson, Howe Ng, Ng, Del, Waystar, Kim Kardashian's, Short, Vincent Harrison Organizations: Renaissance Capital, Nasdaq, Amer Sports, Arc'teryx, Forge, SEC, Companies, Reuters, Auto, Turo, CNBC, Microsoft, Gaming, SpaceX, Forge Global Locations: Kazakhstan, IPOs, Pitchbook
By Nidal al-Mughrabi and Ibraheem Abu MustafaDOHA/GAZA (Reuters) - The toll of Palestinians killed in Israeli strikes on Gaza since Oct. 7 has passed 25,000, health officials in the enclave said on Sunday, amid heavy Israeli strikes and street battles raging across the Hamas-run Strip. Gaza's health ministry said 178 Palestinians were killed in the past 24 hours, one of the deadliest days so far of the war. A total of 25,105 Palestinians have been killed and 62,681 have been injured in Israeli strikes since Oct. 7, the Gaza ministry said in a statement. Finding food for the family, for the children, has become a more challenging adventure than surviving war," Amer, 32, a father of three who lives in northern Gaza, told Reuters. The Palestinian Health Ministry there said Israeli forces have killed 360 Palestinians since Oct. 7.
Persons: Nidal, Abu Mustafa, Khan Younis, Amer, Gazans, Anas Al, Sami Abu Zuhri, Ali Sawafta, Ari Rabinovitch, Nidal al, Frances Kerry Organizations: Hamas, Reuters, West Bank, Palestinian Authority, Palestinian Health Ministry Locations: Abu Mustafa DOHA, GAZA, Gaza, Jabalia, Israel, Hamas, Gaza City, Palestinian, Sharif, Rafah, Ramallah, Jerusalem
After a tepid year in the IPO market, investors are hopeful 2024 will bring about a return to form. But the IPO market cratered in 2022 after the Federal Reserve's aggressive rate hiking campaign collapsed investor demand for growth stocks. But happier days could be ahead for the IPO market in 2024. According to Linqto's 2024 IPO Sentiment Survey released Thursday, only a little more than half, 52%, of 2,500 traders polled are anticipating a significant recovery in the IPO market this year, suggesting "cautious optimism" ahead. "There's a lot more optimism for the IPO market," said Akshata Bailkeri, head of research at EquityZen, a platform for pre-IPO activity.
Persons: Akshata Bailkeri, Bailkeri, Wilson, EquityZen's Bailkeri, Shein, Shein confidentially, Reddit, that's, ​ Andrew Low Ah Kee, Low Ah Kee, Ah Kee, Skims Skims, Kim Kardashian, Andy Muir, Muir, Jordan Brand, Amer, Roxanna Islam, Troy Gayeski, Gayeski, EquityZen's Organizations: Robinhood, Ford, Amer Sports, CNBC, U.S, Reuters, National Football League, Commerce, Nike, Wilson, FS Investments, U.S . Census, World Bank Locations: Snowflake, IPOs, Silicon, China, Opendoor, U.S
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