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Exchange-traded funds (ETFs) are easy to love, but successfully navigating the space can be challenging — even for experienced investors. Like mutual funds, ETFs allow investors to own many stocks at once. For example, investors' returns can be meaningfully altered by relative moves of the US dollar. Within that group, just 15 ETFs had a Sortino ratio of over 1. The Sortino ratio evaluates a fund or ETF's returns on a risk-adjusted basis relative to its downside volatility, and any mark over 1 is seen as solid.
Persons: Jared Woodard, Woodard Organizations: Bank of America, BofA's Research Investment Locations: There's, foolproof, one's, Japan, India, Mexico
Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the chipmaker after its earnings report Wednesday. JPMorgan reiterates Amazon as overweight JPMorgan said it's bullish heading into Amazon Prime Day in July. Bank of America reiterates Nvidia as buy Bank of America said it sees "AI networking upside" after a meeting with company management. Piper Sandler initiates TJX Companies as overweight Piper said the discount retailer is a top idea for the second half. Deutsche Bank reiterates Pentair as buy Deutsche Bank said Pentair is more than just a pool company.
Persons: Morgan Stanley, Freyr, Goldman Sachs, Goldman, China —, it's, Collette Kress, Networking Gilad Shainer, NVDA, OSK, Piper Sandler, Piper, KeyBanc, Pentair, Oppenheimer Organizations: Micron, Cyberspace Administration, JPMorgan, Amazon, " Bank of America, Nvidia, Bank of America, Networking, TAM, JPMorgan downgrades, Citizens, 2Q, Citi, Netflix Citi, Netflix, UBS, Warner Music, Deutsche Bank, Oshkosh Deutsche Bank, TJX Companies, DIS, Suisse, Pfizer, Credit Suisse, pharma, Spotify, FV Locations: China, 3Q22
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REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.
A potential takeover over First Republic could spell trouble for the bank's shareholders, according to Wedbush Securities. Analyst David Chiaverini downgraded the bank stock to neutral from outperform, saying that a potential sale would require a marking of its loans and securities to fair value, and wipe out equity value for shareholders. Given this backdrop, Chiaverini slashed his price target to $5 a share from $140, representing more than 85% downside from Thursday's close. Chiaverini views a sale of the bank as beneficial to the broader banking sector, and the "best the option to avoid receivership." However, marking the company's tangible book value to fair value as of Dec. 31 implies negative $73 a share and symbolizes a $13.5 billion capital pit for any buyer.
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