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☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Super Micro, Meta, Wynn, Reddit, Coinbase, GM & more
▼ + stars: | 2024-04-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Mizuho reiterates Nvidia as a top pick Mizuho says Nvidia is still a top idea at the firm. Morgan Stanley initiates Mural Oncology at overweight Morgan said in its initiation of the biotech company that it sees a long "cash runway" lasting through 2025. Morgan Stanley downgrades Block to underweight from equal weight Morgan Stanley sees growth headwinds for the payment tech company. Morgan Stanley upgrades Zeta to overweight from equal weight Morgan Stanley said the marketing technology company has an underappreciated valuation. " Morgan Stanley reiterates Tesla at overweight Morgan Stanley lowered its price target to $310 per share from $320. "

Persons: Bernstein, Reddit, underperform Bernstein, Raymond James, Raymond James downgrades Bumble, Barclays downgrades Ferrari, it's, Mizuho, Goldman Sachs, Goldman, Morgan Stanley, Morgan, Wolfe, underperform Wolfe, Piper Sandler, Piper, Synopsys, Morgan Stanley downgrades Block, Dave, Buster's, Jefferies, Zeta, Oppenheimer, Ball, Wayfair, Wynn, bullish, Tesla, Goldman Sachs downgrades Hertz Organizations: Citi, Barclays, Ferrari, Nvidia, JPMorgan, Avis, UBS downgrades Bank of America, UBS, Apple, AstraZeneca JPMorgan, AstraZeneca, Amazon, AWS, Meta, General Motors, GMC, Chevrolet, Buick, GM, DFS, Mizuho, Eversource Energy Locations: Avis, MURA, Charlotte, Wayfair, Capital, Macau

☆ Here's why Capital One is buying Discover in the biggest proposed merger of 2024
▼ + stars: | 2024-02-21 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

It's a chess move by one of the savviest long-term thinkers in American finance, Capital One CEO Richard Fairbank. Fairbank, who became a billionaire by building Capital One into a credit card giant since its 1994 IPO, is betting that buying rival card company Discover will better position the company for global payments' murky future. The deal, if approved, enables Capital One to leapfrog JPMorgan as the biggest credit card company by loans, and solidifies its position as the third largest by purchase volume. By 2027, the bank expects to add at least $175 billion in payments and 25 million of its cardholders onto the Discover network. The Discover network alone would be worth up to $6 billion if sold to Alphabet, Apple or Fiserv , Sakhrani wrote Tuesday in a research note.

Persons: Richard Fairbank, Marvin Joseph, It's, Fairbank, Sanjay Sakhrani, Sakhrani Organizations: Washington Post, Getty, Capital, Discover Financial, U.S, JPMorgan Chase, Independence, Discover, JPMorgan, Visa, Mastercard, American Express, One's, PayPal Locations: Wall, U.S

☆ Premarket stocks: Is Nvidia too big to fail?
▼ + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ America is on the cusp of a new biggest credit card company. Here’s what it means for you
▼ + stars: | 2024-02-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Discover cards are already accepted at 99% of all US merchants that allow customers to make credit card purchases, according to the company. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. If Capital One flips all its credit cards to Discover, Mastercard would stand to lose a quarter of its US credit card volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: New York CNN —, Biden, Richard Fairbank, Fairbank, JPMorgan Chase, Andrew Harrer, Democratic Sen, Elizabeth Warren, Jaret, Cowen Organizations: New, New York CNN, Discover Financial Services, Capital, Discover, Mastercard, Visa, US, American Express, JPMorgan, Bank of America, Citigroup, Bloomberg, Getty, Consumer Financial, ”, Democratic Locations: New York, Mastercard’s, Visa’s

☆ Capital One is buying Discover in a $35.3 billion deal
▼ + stars: | 2024-02-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Capital One announced it’s acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market. Under the terms of the deal announced Monday evening, Discover (DFS) shareholders will receive a little over one share of Capital One (COF) for every Discover share they own. If the deal is finalized, current Capital One shareholders will own a 60% stake in the combined company, while Discover shareholders will own the remaining 40%. Credit card networks are the liaison between card issuers and merchants, for whom they set fees. Currently, Capital One issues credit cards with Mastercard, Visa and Discover.

Persons: JPMorgan Chase, Richard Fairbank Organizations: New, New York CNN, Capital, Discover Financial Services, Discover, US, Visa, Mastercard, American Express, JPMorgan, Bank of America, Citigroup, Wall Street Journal Locations: New York

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Apple, Walmart, Roblox, American Express & more
▼ + stars: | 2024-02-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Thursday: Jefferies reiterates Walmart as buy Jefferies sees a $20 billion AI and automation opportunity for Walmart. Goldman Sachs upgrades Roblox to neutral from sell Goldman upgraded the stock following its earnings report and sees "margin momentum." Needham upgrades Disney to buy from hold Needham upgraded the theme park operator after its earnings report, seeing "strong" earnings per share growth. Morgan Stanley downgrades American Express to equal weight from overweight Morgan Stanley downgraded the credit card stock mainly citing valuation. Wells Fargo reiterates Disney as overweight Wells says it's standing by its overweight rating on the stock following earnings on Wednesday. "

Persons: Jefferies, Morgan Stanley downgrades Hertz, Morgan Stanley, Goldman Sachs, Goldman, Needham, Ally, it's, Wells, Macquarie, BABA, Oppenheimer, Davidson, NYCB, Guggenheim, TD Cowen, Wedbush, Wolfe, Baird, Tesla Organizations: Walmart, Discover, DFS, Barclays, PNM Resources, New, Express, DIS, Six, York Community Bancorp, Guggenheim, UBS downgrades Air Products, UBS, Products, Deutsche Bank, AstraZeneca, Deutsche, Apple, Nvidia Locations: New Mexico, Texas, OW, North America, China, GPRO

☆ Here are Wednesday's biggest analyst calls: Apple, Amazon, Tesla, Schwab, Pinterest, Exxon, Disney and more
▼ + stars: | 2023-11-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Piper Sandler downgrades Hershey to neutral from overweight Piper Sandler said it's concerned about rising cocoa costs for Hershey. UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone are almost nonexistent. Piper Sandler reiterates Charles Schwab as buy Piper Sandler said the company is a "likely beneficiary of fed rate cuts." Piper Sandler reiterates Pinterest as overweight Piper Sandler raised its price target on Pinterest to $40 per share from $37 and says trends are improving. UBS reiterates Exxon as buy UBS said it's bullish heading into Exxon's corporate plan event on Dec. 6.

Persons: Piper Sandler downgrades Hershey, Piper Sandler, it's, Guggenheim, Tesla, Truist, Canaccord, Raymond James, TD Cowen, AZN, Goldman Sachs, Leslie's, Carlyle, Wells, Wells Fargo, Apple, Jefferies, Airbnb, ABNB, Cantor Fitzgerald, Microvast, Charles Schwab, SCHW, Morgan Stanley, Bernstein, PDD, Marti, Pinterest, D.A, Davidson, Estée Lauder Organizations: Hershey, UBS, Apple, " Bank of America, underperform Bank of America, AstraZeneca, downgrades, Group, Goldman, GS, Bank of America, Union, JPMorgan, Disney, Taiwan Semiconductor, Intel, Commerce, Marti Technologies, DFS, Exxon Locations: China, Europe, Japan, America, CY24, Turkey, XOM's

☆ Discover Financial explores sale of students loan portfolio
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

Nov 29 (Reuters) - Discover Financial Services (DFS.N) said on Wednesday it was exploring the sale of its students loan portfolio. The company said it will stop accepting applications for student loans from Feb. 1, 2024 without impacting the loans or payments from current customers. The potential sale will see the transfer of servicing of these loans to a third-party. The company did not give a deadline for the sale. Reporting by Pritam Biswas in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Pritam Biswas, Arun Koyyur Organizations: Discover Financial Services, Thomson Locations: Bengaluru

☆ Here are Wednesday's biggest analyst calls: Apple, Meta, Boeing, AMD, Carvana, Ford, Robinhood & more
▼ + stars: | 2023-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Advanced Micro Devices as buy UBS said it's standing by its buy rating on the chipmaker after its earnings report on Tuesday. Goldman Sachs downgrades ZoomInfo Technologies as buy Goldman downgraded the stock after its "mixed" earnings report citing lower visibility. UBS upgrades JD.com to buy from neutral UBS said shares of the Chinese retailer are attractive. " UBS reiterates Apple as neutral UBS said its checks show Apple's iPhone wait times are lower. TD Cowen reiterates Carvana as market perform TD said it's cautious heading into the used car company's earnings report on Thursday.

Persons: it's, TD Cowen, Piper Sandler, Piper, Polestar, Goldman Sachs, Goldman, Morgan Stanley, Bernstein, Price, Cantor Fitzgerald, VinFast, Cantor, it's bullish, JD, Mizuho, Robinhood, HOOD, Carvana Organizations: UBS, Devices, EV, Technologies, Bank of America, of America, UAW, Barclays, Ford, General Motors, Meta, JPMorgan, Boeing, Goldman, NRG Energy, Guggenheim, Management, Clear Messaging, Deutsche Bank, Deutsche, Apple, BP, UW Locations: Asia, Europe, North America

☆ AI, machine learning, and robotics are making the retail supply chain more efficient and resilient — a welcome shift after several rocky years
▼ + stars: | 2023-10-26 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AdvertisementAdvertisementIncreasing efficiencies in the retail supply chain is necessaryPaul Maguire, the head of retail delivery at the digital consultancy Endava, told Insider that embarking on a digital transformation was critical to better-connected and more resilient retail supply chains. Digital technology will "close gaps in supply-chain visibility" and help retailers "manage future unforeseen surges in product demand," he said. These innovations will "continue to bolster and streamline the retail supply chain as they become even more sophisticated," Maguire said. AdvertisementAdvertisementTo survive, Perry said that the retail supply chain must take steps to become more agile and flexible. ScanditA data-driven tech strategy can also help retailers appeal to sustainability-conscious consumers.

Persons: —, Paul Maguire, Maguire, John Perry, Perry, they'd, Wunderman, Arifi, Naji, Wunderman Thompson, Samuel Mueller, Mueller Organizations: Service, SCALA Consulting, Wunderman Thompson Commerce & Technology, DFS, Wunderman Thompson Commerce, Technology Locations: Ukraine, SCALA, British

☆ 5 Top Sports-Betting Trends to Watch, From AI to Igaming Regulation
▼ + stars: | 2023-10-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +9 min

The AI arms raceGambling companies overall are racing to figure out how to use artificial intelligence to supercharge their businesses. She sees potential for AI to help spot problem gambling behavior, as well. IGaming legislation could gain steam in 2024The pace of legal online casino-style gambling, or iGaming, regulation has moved at a glacial pace in the US. It's been a big obstacle for gambling operators because iGaming is generally a more profitable business than sports betting. Many in the industry are hoping for a domino effect when the next significant state legalizes iGaming that spurs others to follow.

Persons: —, Amy Howe, Jason Robins, we're, FanDuel's Howe, David Jacquet, It's, Howe, FanDuel, Travis Kelce, Lewis Hamilton, DraftKings, Robins, PrizePicks, we'll, Adam Greenblatt, he'd, Greenblatt, it's, cybersecurity Organizations: Sports, DFS, Kansas City Chiefs, Underdog, US, American Gaming Association, MGM, Caesars, MGM Resorts, Caesars Entertainment Locations: Las Vegas , Nevada, — Florida, New York, Michigan, G2E

☆ Charles Feeney, retail entrepreneur who gave $8 billion to charity, dies at 92
▼ + stars: | 2023-10-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

Los Angeles CNN —Charles “Chuck” Feeney, a retail entrepreneur and investor who amassed a multibillion-dollar fortune and then gave it all away, has died. He died peacefully in San Francisco on Monday, the Atlantic Philanthropies, Feeney’s foundation, said on its website. Feeney made much of his fortune after co-founding Duty Free Shoppers, a chain of duty-free airport stores specializing in luxury goods, in 1960 with an undergraduate classmate from Cornell University. In total, the Atlantic Philanthropies made grants totaling $8 billion across five continents — much of it anonymously, the foundation said. He gave nearly $1 billion to Cornell through his foundation since 1982, according to an obituary on Cornell’s website.

Persons: Los Angeles CNN — Charles “ Chuck ” Feeney, Feeney, “, ” Feeney, frugally, Cornell’s, ”, Bill, Melinda Gates, Warren Buffett, — Organizations: Los Angeles CNN, Free Shoppers, Cornell University, DFS, Cornell Locations: San Francisco, Vietnam, Ireland, Elizabeth , New Jersey

☆ Here are Friday's biggest analyst calls: Netflix, Nvidia, Eli Lilly, Disney, Levi's, Exxon, Walmart and more
▼ + stars: | 2023-10-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan reiterates Exxon as overweight JPMorgan said it's standing by its buy rating on the oil and gas giant. Seaport initiates Netflix as buy Seaport said it sees plenty of upside in shares of Netflix. JPMorgan upgrades Eaton to overweight from neutral JPMorgan said the industrial and electrical company is best in class. UBS reiterates Levi's as buy UBS said Levi's is still an attractive stock despite the company's disappointing earnings report Thursday. " JPMorgan upgrades Apellis to overweight from neutral JPMorgan said the pharmaceutical company is well-positioned for more upside.

Persons: Piper Sandler, Bernstein, Disney, XOM, Jefferies, TD Cowen, Cowen, Eaton, Eli Lilly, Doug McMillon, Berenberg, Morgan Stanley, Meta, Levi's, Oppenheimer downgrades O'Reilly, AutoZone, Oppenheimer, it's, Truist Organizations: Disney, Netflix, Hulu, JPMorgan, Exxon, Barclays, Nvidia, Intel, Gaudi, Citi, Discover Citi, DFS, Seaport, Bank of America, Energy, of America, Apple, Vegas, Prix, Clearway Energy, Walmart, United Auto Workers, Auto, Meta, UBS Locations: Parks, NVDA, China, ETN, TEL, AZO, ORLY

☆ Discover Financial jumps 7% after agreeing with FDIC to improve consumer compliance
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsCompanies Discover Financial Services FollowOct 2 (Reuters) - Shares of Discover Financial Services (DFS.N) climbed 7% on Monday after the bank agreed to improve its consumer compliance and related corporate governance as part of a consent order with the Federal Deposit Insurance Corp (FDIC). The stock was the top percentage gainer on the benchmark S&P 500 (.SPX) in early trading, outperforming both the broader markets and the financial sector. In late July, Discover revealed it had received a proposed consent order from the FDIC in connection with consumer compliance. At the time, the bank's shares tanked after it also disclosed a regulatory review over some incorrectly classified credit card accounts from around mid-2007 unrelated to the FDIC consent order.

Persons: Carlo Allegri, Manya Saini, Sriraj Organizations: New York Stock, REUTERS, Discover Financial, Discover Financial Services, Federal Deposit Insurance Corp, Discover Bank, U.S . Securities, Exchange Commission, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

☆ US authorities interview Winklevoss over claims against DCG and its CEO -source
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucas Jackson/file photo Acquire Licensing RightsSept 7 (Reuters) - U.S. authorities are probing claims of fraud that Cameron Winklevoss, the co-founder of crypto firm Gemini Trust Co, has made against the Digital Currency Group (DCG) and its founder Barry Silbert, according to a source familiar with the inquiry. Winklevoss has said that DCG and Silbert misrepresented the financial health of DCG's lending arm Genesis, which filed for bankruptcy in January. Gemini was the largest creditor of the bankrupt firm and is suing DCG and Silbert. Federal prosecutors in New York and investigators from the FBI and the Securities and Exchange Commission asked Winklevoss about his claims during an interview in recent months, the source said. Authorities have not accused DCG or Silbert of any misconduct and investigations do not always lead to charges.

Persons: Cameron Winklevoss, Lucas Jackson, Barry Silbert, Winklevoss, Silbert, Gemini, DCG, Chris Prentice, Jaiveer Singh, Devika Syamnath, Cynthia Osterman Organizations: New York State Department of Financial Services, REUTERS, Gemini Trust, Digital Currency Group, FBI, Securities and Exchange Commission, Bloomberg, SEC, Gemini, Thomson Locations: Manhattan, New York, Bengaluru

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Splunk, Peloton, Rivian, AMC & more
▼ + stars: | 2023-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by it's buy rating after Nvidia's strong earnings report on Wednesday. Stifel upgrades Nvidia to buy from hold Stifel upgraded the stock after its strong earnings report Wednesday. Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America said that the downside scenario is now "off the table" for Williams-Sonoma. Bank of America downgrades Vizio to underperform from buy Bank of America double downgraded the stock on concerns about a weakening consumer. Bank of America downgrades Peloton to neutral from buy Bank of America said it sees "limited visibility on growth initiatives" for Peloton .

Persons: Needham, Rivian, it's, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Wedbush, Johnson, Splunk, Raymond James, Piper Sandler, Piper, Wolfe, Charles Schwab, Bernstein, Estee Lauder, Snowflake, Rosenblatt, Read Organizations: Nvidia, Center, Stifel, AMC, Bank of America, underperform Bank of America, Williams, Sonoma, Vizio, Johnson, Prudential, DFS, ADI Locations: CY2024, Williams, Sonoma, Snowflake

☆ Jim Cramer takes issue with Wolfe Research's 'very gutsy call' on this financial stock
▼ + stars: | 2023-08-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

Discover Financial Services (DFS) stock surged 1.82% Thursday morning following an upgrade from Wolfe Research, to trade around $90 apiece. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. CNBC's Jim Cramer took issue with Wolfe's "very gutsy call," citing reports of Discover overcharging merchants for more than a decade. In the meantime, if you want a bargain, take advantage of Nvidia (NVDA) if the stock is down." The artificial-intelligence chipmaker, an Investing Club stock, reported another blowout quarter on Wednesday.

Persons: Jim Cramer's, CNBC's Jim Cramer, there's Organizations: Discover Financial Services, Wolfe Research, Discover, Nvidia, Club Locations: Discover overcharging

☆ U.S. bank stocks fall on Fitch downgrade warning, tougher oversight worries
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. The warning followed rival Moody's downgrading 10 mid-sized lenders earlier this month, citing funding risks and weaker profitability. Among the mid-sized lenders, Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O) fell 8.4% and 1.6%, respectively. The S&P 500 banks index (.SPXBK) was down 2.1%, hitting its lowest in a month. Separately, Discover Financial Services (DFS.N) shares fell 8.3% to $94.10, a day after its CEO stepped down.

Persons: Andrew Kelly, Banks, Wells, JPMorgan Chase, Goldman, Morgan Stanley, MS.N, Michael Burry's, Niket, Arun Koyyur Organizations: Financial, of, REUTERS, CNBC, Federal Deposit Insurance Corp, Bank of America, JPMorgan, Goldman Sachs, Citigroup, Western Alliance Bancorp, PacWest Bancorp, Michael Burry's Scion Asset Management, Comerica, Discover Financial Services, Thomson Locations: of Manhattan , New York City, U.S, Bengaluru

☆ 3-Stock Lunch: DHI, DFS, LCID
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: DHI, DFS, LCIDDavid Trainer, New Constructs CEO, joins ‘Power Lunch’ to discuss three stocks: D.R. Horton Inc,, Discover Financial and Lucid.

Persons: David Trainer Organizations: DFS, Horton Inc, Discover

☆ Banks kicked off the last two weeks of July with higher rates on CDs. Where to find solid yields
▼ + stars: | 2023-08-01 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Good news for income-centric investors: Higher yields in the certificate of deposit market will continue through the remainder of 2023. Banks hiked rates on CDs through the last two weeks of July, with the average one-to-12-month rate rising by 11 basis points to 4.6%, according to Morgan Stanley analyst Betsy Graseck. See below for some of the institutions in Morgan Stanley's coverage that are also offering attractive rates. Graseck noted that over the past two weeks, rates on CDs in the 13-to-36-month range have fallen by 4 basis points. "We also expect banks to continue shortening the duration of their highest CD offers to position for a potential Fed rate cut in 1H24," she wrote.

Persons: Banks, Morgan Stanley, Betsy Graseck, AXP, Graseck, — CNBC's Michael Bloom Organizations: DFS, Morgan Locations: 1H24

☆ Here are Friday's biggest analyst calls: Nvidia, Amazon, Carvana, Roku, Microsoft, Eli Lilly and more
▼ + stars: | 2023-07-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Truist reiterates Amazon as buy Truist said it's bullish heading into Amazon earnings Aug. 3. Piper Sandler upgrades SL Green to overweight from neutral Piper Sandler said in its upgrade of SL Green that the real estate investment trust has "favorable tailwinds." Piper Sandler downgrades Discover to neutral from overweight Piper Sandler said in its downgrade of the credit card company that it sees too many negative catalysts. Piper Sandler downgrades Carvana to neutral from overweight Piper Sandler downgraded the online used-car company mainly on valuation. Sirius' stock price has more than doubled over the past month and increased 42% yesterday alone.

Persons: . Bank of America downgrades Herc, Herc, Underperform, KeyBanc, it's, Truist, Piper Sandler, Piper Sandler downgrades Carvana, JPMorgan downgrades Blackstone, Morgan Stanley, Eli Lilly, Davidson, Davison, Oppenheimer, Baird, Wedbush, Goldman Sachs Organizations: . Bank of America, . Bank of America downgrades Herc Holdings, Bank of America, Hollywood, NA, Green, DFS, JPMorgan, Novo Nordisk, BMO, Consolidated Edison, of America, Deutsche Bank, Sirius, Nvidia, Microsoft Locations: 2Q23

☆ Discover dabbles with two types of delinquency
▼ + stars: | 2023-07-21 | by ( John Foley | ) www.reuters.com time to read: +4 min

NEW YORK, July 21 (Reuters Breakingviews) - In the credit card business, delinquency means not paying on time. Discover Financial Services (DFS.N), a large U.S. credit card issuer, is dabbling with a bit of both, and it’s a double concern for shareholders. But it came alongside the revelation that regulators have proposed serving Discover with a punitive “consent order,” for other undisclosed shortcomings. Discover received a consent order from the Consumer Financial Protection Bureau in 2020, as punishment for disobeying another order from 2015. Some 2.9% of Discover card loans were overdue at the end of June, back where they ended 2019.

Persons: Boss Roger Hochschild, ”, Wells Fargo, There’s, cardholders, Jonathan Guilford, Thomas Shum Organizations: YORK, Reuters, Discover Financial Services, Discover, Consumer Financial, Bank of America’s, JPMorgan, ” Reuters Graphics Reuters, Citigroup, Citi, Federal Reserve, Financial Services, Federal Deposit Insurance Corp, Thomson Locations: U.S

☆ Bank stocks volatile on mixed results, Discover sinks amid regulatory review
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

July 20 (Reuters) - Bank stocks were volatile in premarket trading on Thursday as lenders reported mixed quarterly results, while shares of Discover Financial Services (DFS.N) tanked after it disclosed a regulatory review over some of its credit products. Meanwhile, two major mid-sized banks missed quarterly profit estimates, while one came ahead of Wall Street expectations on Thursday. KeyCorp (KEY.N) shares dropped 2.7% after the bank's profit plunged 50% and it forecast a decline in net interest income. They fell 5.7% in the second quarter compared with a year earlier. Outperforming peers, Fifth Third Bancorp's (FITB.O) shares rose 1.9% premarket as the bank's quarterly profit topped expectations, even as it trimmed its growth forecast for full-year NII.

Persons: Zions, Manya Saini, Jaiveer Shekhawat, Sri Hari, Shweta Agarwal, Krishna Chandra Organizations: Bank, Discover Financial Services, Discover, Federal Deposit Insurance Corporation, Truist, Major, Thomson Locations: Truist, Major U.S, Bengaluru

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