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☆ Why Wall Street is transfixed by a BofA banker's untimely death
▼ + stars: | 2024-05-08 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.

Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, —, UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Target, Gap, Nike, Palantir, Goldman Sachs & more
▼ + stars: | 2024-05-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Goldman Sachs reiterates Nvidia as buy Goldman said it sees a "favorable" risk/reward for shares of Nvidia. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock following its financial analyst day. Bank of America reiterates Palantir as buy Bank of America said it's sticking with its buy rating after the company released earnings on Monday. Wells Fargo reiterates Goldman Sachs as overweight Wells increased its price target on Goldman to $504 per share from $450. price target."

Persons: TGT, Goldman Sachs, Goldman, ServiceNow, Wells, Palantir, Wolfe, TD Cowen, Ares, Cowen Organizations: Citi, Target, Nvidia, UBS, Vale, Bank of America, Apple, UL, tailwinds, Artificial Intelligence, Nike, Cameco, Nike Inc, Barclays, CVS Locations: Las Vegas

☆ Wall Street bonuses to rise this year as deals return, says report
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Bonuses are poised to recover on Wall Street this year, fueled by strong equity market gains and recovery in investment banking, according to financial services compensation firm Johnson Associates. As initial public offerings come back, bonuses for equity underwriters are expected to rise 10% to 20% this year. "We are seeing almost all segments on Wall Street raising compensation", said the firm's founder Alan Johnson. Higher trading volumes are expected to increase bonuses for bond traders between 10% and 20%, and 5% to 15% higher for equity traders. Executives working at wealth management will probably have 5% to 10% higher compensation, whereas asset management and hedge fund employees are expected to receive 5% higher bonuses.

Persons: Johnson, Alan Johnson Organizations: Johnson Associates, Investment Locations: U.S

☆ We are trimming a large position to take some profits in this overbought market
▼ + stars: | 2024-05-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Following the trade, Jim Cramer's Charitable Trust will own 1,250 shares of MS, decreasing its weighting to about 3.80% from 4.20%. Our interpretation of an overbought reading is that the market has had a big run in a short period and could be due for a rest. There have been many times an overbought market continues to rally — late 2023 is a good example —so it's too hard to predict if we'll see a pullback like after the last time the Oscillator was overbought on March 28. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Jim Cramer's, Jim Cramer, Jim Organizations: CNBC

☆ Societe Generale's investment bank limits first-quarter profit plunge
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

French bank Societe Generale reported a smaller-than-expected 22% slide in first-quarter net income on Friday, as profits on equity derivative sales offset more weakness at its retail bank and in fixed-income trading. France's third-biggest listed lender, whose CEO Slawomir Krupa is seeking to end several years of lackluster performance and trim costs, said group net income over the first three months of the year was 680 million euros ($729.30 million). Sales slipped 0.4% to 6.65 billion euros, above the 6.46 billion-euro analyst average estimate. SocGen's investment banking division saw its earnings jump 26.4% to 690 million euros, beating forecasts, while revenues weakened 5.1% to 2.62 billion euros for the quarter. Equity derivatives sales, an area where SocGen has historically been strong, did well, the bank said, as did corporate financing services and its advisory business.

Persons: Slawomir Krupa Organizations: Societe Generale, Equity

☆ Credit Agricole's first-quarter earnings jump as investment banking beats rivals
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

Credit Agricole , France's second-biggest listed bank, posted a forecast-beating 55% jump in first-quarter net profit on Friday, helped by corporate and investment banking sales that outperformed rivals. Net profit in the January to March period rose to 1.9 billion euros ($2.04 billion), above the 1.48 billion-euro average of 19 analyst estimates compiled by the company. Sales climbed 11% to 6.81 billion euros, topping analyst expectations of 6.47 billion euros. The cost of risk, or money put aside for bad loans, was 400 million euros, 105 million euros less than expected. Targets include annual underlying net income of more than 6 billion euros and a return on tangible equity of more than 12%.

Persons: Amundi Organizations: Credit Agricole, BNP Paribas, Societe Generale, Agricole Locations: France's, France

☆ Stocks pop after Fed decision, oil plunges, earnings mixed — what to watch in the market
▼ + stars: | 2024-05-01 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Before last week's strong quarter, CNBC learned that Alphabet's Google had laid off hundreds of employees from so-called core teams. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Powell, It's, Morgan Stanley, DuPont, Jim, Laxman Narasimhan's, Estee Lauder, Stanley Black, Decker, Bernstein, Toni Sacconaghi, Apple, Sacconaghi, Jim Cramer's Organizations: CNBC, Federal Reserve, Dow, Nasdaq, Google, West Texas, Coterra, Cruise, Viking Holdings, Investment, Morgan, GE Healthcare, Nvidia, Big Tech, Linde, Bausch Health, Apple, Jim Cramer's Charitable Locations: India, Mexico, Gaza, WTI, Wall, China

☆ Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
▼ + stars: | 2024-04-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we examine how tough the job market is for the well-paid employee . That's the current job trend, as higher-paid employees are having trouble finding work despite a historically strong labor market. iStock; Rebecca Zisser/BIThe so-called white-collar recession could also have a lasting impact on the job market for high earners. AdvertisementIt speaks to the broader theme of efficiency Big Tech companies have touted for the better part of a year .

Persons: —, Alyssa Powell, Insider's Aki Ito, BI's Emily Stewart, Aki, Rebecca Zisser, Wall, There's, Christine Ji, Kenneth Tan, Alexander Spatari, Abanti Chowdhury, Christine Ji's, Raymond James, Larry Adam, Goldman Sachs, Elon Musk, Premier Li Qiang, Beijing . Wang Ye, Musk, Li Qiang, Jensen Huang, Douglas Sacha, Getty, Bob Bakish, Shari, David Kohl, Shopify, Changpeng Zhao, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Hamptons, Big Tech, Tech, Amazon, Bank of America, Elon, Premier, AP Elon Musk's, Federal Reserve, Paramount Locations: America, Beijing ., Xinhua, China, New York, London

☆ My Investment Banking Job Nearly Destroyed Me
▼ + stars: | 2024-04-29 | by ( Christine Ji | ) www.businessinsider.com time to read: +9 min

I hadn't expected to be lying on the office floor thinking that I needed to quit my investment banking job — yet there I was. The allure of an investment banking job is seductive. Being an investment banking analyst was much sexier in theory than practiceI knew banking would be intense from the internship, but nothing could've prepared me for just how intense the full-time role was. There's very little advice out there on how to quit your investment banking job. I can't say I loved investment banking to that degree, so I walked away.

Persons: could've, nauseous, there'd, Ji Organizations: Business, Ivy League, Wall

☆ Dividend stocks are poised to outperform, says Bank of America. Here are names on its list
▼ + stars: | 2024-04-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The U.S. economy is flashing a sign that's favorable for dividend stocks, according to Bank of America. In this environment, investors want to own dividend stocks with above-market yields, she said. For those characteristics, she looks to quintile two of the Russell 1000 by trailing dividend yield. Her screen guards against owning distressed companies that might move into the first quintile, the highest dividend yield group, if prices fall ahead of potential dividend cuts. APA has a 3.1% dividend yield, while HF Sinclair yields 3.5%.

Persons: Savita Subramanian, Subramanian, Russell, Jeffrey Martin, CNBC's Jim Cramer, John Christmann Organizations: Bank of America, Bank of, AES, APA, Sinclair, Callon Petroleum, CNBC, Citigroup, Citi Locations: U.S

Whispering in the ears of the billionaires and celebrities doing the buying, however, are investment bankers. Like other sports bankers BI interviewed for our list of top sports bankers, he exemplified a good-humored, approachable attitude, including joking about his many sports allegiances. Related stories"Earlier in my career, I made the mistake of telling Bob Kraft that I was a New York Jets fan," Carey told BI recently. They're obsessive Jets fans, and they're just fans because I'm a Jets fan," Neville told BI. So that's why we'll be Jets fans forever."

Persons: it's, Goldman Sachs, Greg Carey, everyone's, Carey, Colin Neville's, he's, David Beckham, Steve Ballmer, Joe Tsai, Ballmer, Tsai, Neville, Andrew Kline, Kline, Bob Kraft, I'm, Robert Tilliss, There's, Abramovich, Vladimir Putin, Todd Boehly, Joe Lenehan, Michael Arougheti, David Rubenstein's, doesn't, there's Organizations: NBA, JPMorgan, Business, The, PJT Partners, Chelsea FC, Baltimore Orioles, Sports, Goldman, Endeavor, WWE, Microsoft, Beckham's, Los Angeles Clippers, Brooklyn Nets, Barclays Center, St, Louis Rams, Los Angeles Rams, Golden State Warriors, Miami Heat, Harvard, US Rugby National, Cal, New York Jets, BI, Patriots, Giants, Rays, Chelsea, Circle, Atlanta Hawks NBA, New York Mets, NFL, soccer's Premier League, Russian, Chelsea football, LA Dodgers, Yankees, Manchester United Games, Jets, we'll Locations: European, Los Angeles, Berkeley, Barcelona, Ukraine, New York

☆ Deutsche Bank investment banking unit 'standout' in first quarter, CFO says
▼ + stars: | 2024-04-25 | 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 EmailDeutsche Bank investment banking unit 'standout' in first quarter, CFO saysJames Von Moltke, chief financial officer at Deutsche Bank, comments on the German lender's first-quarter results.

Persons: James Von Moltke Organizations: Deutsche Bank

☆ Stocks making the biggest moves midday: Meta, Victoria's Secret, Microsoft, Caterpillar and more
▼ + stars: | 2024-04-25 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Honeywell posted adjusted earnings per share of $2.25, beating analysts' estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better-than-expected at $9.11 billion, compared to the $9.03 billion analysts were expecting. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Caterpillar — Shares tumbled 6.5% after revenues of $15.8 billion for the most recent quarter missed analysts' estimates of $16.04 billion, according to LSEG.

Persons: Goldman Sachs, Mark Zuckerberg, ServiceNow, LSEG, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Facebook, Meta, Tech, Microsoft, Beverage, JPMorgan, Monster Beverage, Honeywell —, Honeywell, Revenue, Merck, Co, LSEG, — Bank of America, Southwest Airlines —, Management, StreetAccount, Machines, IBM, Bank of America, Caterpillar, Nvidia —, Nvidia, Comcast, Deutsche Bank — U.S, Deutsche Bank, CNBC Locations: NBCUniversal

☆ Stocks making the biggest moves premarket: Meta Platforms, Honeywell, Merck, Southwest Airlines and more
▼ + stars: | 2024-04-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

However, first-quarter earnings and revenue both came above analysts' estimates. Honeywell — The industrial stock rose 2.2% in premarket trading after the company posted earnings per share of $2.25, beating LSEG analysts' estimates of $2.17. Revenue for the quarter came in at $9.11 billion, compared to the $9.03 billion analysts were expecting. Analysts surveyed by LSEG forecast $1.88 in earnings per share and $15.20 billion in revenue. ServiceNow — The workflow management company shed 4% after narrowly beating analysts' revenue expectations in the first quarter.

Persons: Merck, LSEG, ServiceNow, —, Macheel, Samantha Subin, Jesse Pound, Pia Singh, Alex Harring Organizations: Facebook, Honeywell, Merck, Southwest Airlines, American Airlines, LSEG, StreetAccount, IBM, Caterpillar, Deutsche Bank — U.S, Deutsche Bank, Comcast, Technology, Revenue, CNBC Locations: NBCUniversal

Kline was drafted in 2000 by the St. Louis Rams (now the Los Angeles Rams). He was an offensive lineman until 2002, when he left the NFL after sustaining several concussions. The boutique Los Angeles firm focuses almost exclusively on sports dealmaking — though it also works on capital raises and makes its own investments. The firm's website says it has also advised on deals for franchises like the Golden State Warriors, the Miami Heat, the Los Angeles Dodgers, Bologna FC, and the San Francisco Giants. Kline works alongside Sean Clemens and Edwin Draughan, who focus on sports mergers and acquisitions.

Persons: Andrew Kline, Park Lane Andrew Kline, Lane Kline, Kline, Sean Clemens, Edwin Draughan Organizations: St, Louis Rams, Los Angeles Rams, NFL, Athletes ' Agency, Cincinnati Bengals, MLB's Cincinnati Reds, Sports Business, Golden State Warriors, Miami Heat, Los Angeles Dodgers, Bologna FC, San Francisco Giants, NCAA Locations: San Diego, Los Angeles, Angel

☆ Deutsche Bank posts better-than-expected profit in first quarter amid investment banking recovery
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Deutsche Bank on Thursday reported a 10% rise in first-quarter profit, beating expectations amid an ongoing recovery in its investment banking unit. Net profit attributable to shareholders was 1.275 billion euros ($1.365 billion) for the period, ahead of an aggregate analyst forecast of 1.23 billion euros for the period, according to LSEG data. Deutsche Bank said this was its highest first-quarter profit since 2013. Revenues at its investment bank increased 13% to 3 billion euros, following a 9% slump through full-year 2023 which had dragged down overall profit. Germany's biggest lender reported net profit of 1.3 billion euros in the prior quarter and of 1.16 billion euros in the first quarter last year.

Persons: James von Moltke, CNBC's Annette Weisbach Organizations: Deutsche Bank, Deutsche Bank's, Private Bank, Asset Management

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City

☆ Buy these 'AI revolutionaries' trading at a discount, Evercore ISI says
▼ + stars: | 2024-04-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

The artificial intelligence revolution is just getting started, and that means there are opportunities for investors to scoop up some names at a discount, according to Evercore ISI. Yet adoption is low, with less than 5% of U.S. firms reporting using AI, he said, citing U.S. Census Bureau data. To find "AI revolutionaries" that are trading at a discount, Evercore ISI looked for companies in the Russell 1000 with strongly trending AI mentions — either surpassing the index or the company's sector average. One of the names on the list is Uber Technologies , which mentioned AI 17 times last year. The company is also using AI to increase productivity.

Persons: OpenAI's ChatGPT, Julian Emanuel, Emanuel, Russell, —, Uber's, Dara Khosrowshahi, they're, CNBC's, Goldman Sachs, David Solomon, Solomon, Goldman's, Penny, Glenn Fogel, Fogel Organizations: ISI, Census, Nvidia, Nasdaq, Uber Technologies, Holdings Locations: U.S

☆ Top Wall Street analysts pick these 3 dividend stocks for higher returns
▼ + stars: | 2024-04-21 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are three attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Enterprise Products PartnersThis week's first dividend stock is Enterprise Products Partners (EPD), a midstream energy services provider. (See EPD Technical Analysis on TipRanks)Goldman SachsLet's move to Goldman Sachs (GS), one of the leading investment banks in the U.S. In the first quarter, Goldman Sachs returned $2.43 billion of capital to shareholders through share repurchases worth $1.5 billion and dividends of $929 million. (See Goldman Sachs Stock Buybacks on TipRanks)Cisco SystemsFinally, let's look at Cisco Systems (CSCO), a networking equipment maker.

Persons: Wall, Elvira Scotto, Scotto, TipRanks, Goldman Sachs, Stephen Biggar, Tal Liani, Cisco's, Liani Organizations: Wall Street, Enterprise Products, Enterprise Products Partners, RBC Capital, U.S, Goldman, Biggar, Securities Industry, Financial Markets Association, Cisco Systems, Cisco, Bank of America Securities Locations: Delaware, industrywide

☆ Bitcoin miners brace for impact as halving goes live
▼ + stars: | 2024-04-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin is 'halved.' The aggregate market cap of the 14 U.S.-listed bitcoin miners tracked by JPMorgan analysts declined 28% over the first half of April to $14.2 billion, reaching year-to-date lows. Some have billed the 2024 bitcoin halving as a seminal moment for the mining sector. Marathon, along with other mining firms, has begun diversifying its business model into ancillary operations beyond purely bitcoin mining. Sullivan continued, "Bitcoin mining sites can only be repurposed if they meet the attributes that are required for HPC.

Persons: AUSTIN , TEXAS — Adam Sullivan, bitcoin, Sullivan, they'll, it's, Core's Sullivan, Bitdeer, Needham, Haris Basit, Basit, Cantor Fitzgerald, Greg Beard, Beard, Bitdeer's, Jason Les, Les, Fred Thiel, Capex, Thiel, Stronghold's Beard, Nic Carter, Blackrock, Bill Barhydt, Barhydt, Island's Carter isn't, Carter, CoinShares Organizations: bitcoin, CNBC, JPMorgan, Cipher, Bitdeer Technologies, Mining, Miners, Riot, Island Ventures, Circuits, Nvidia, CoreWeave, Bitcoin, HPC Locations: AUSTIN , TEXAS, Texas, bitcoin, U.S, Rockdale , Texas, Singapore, Bitcoin, Hong Kong, Abra, Europe, Dalton , Georgia, North America

☆ Jim Cramer ranks first-quarter earnings from 6 major U.S. banks. Our portfolio stocks fared well
▼ + stars: | 2024-04-20 | by ( Morgan Chittum | ) www.cnbc.com time to read: +12 min

Morgan Stanley Revenue rose 4% year over year to $15.14 billion, beating expectations of $14.41 billion, according to data compiled by LSEG. C YTD mountain Citigroup (C) year-to-date performance Citigroup had a decent quarter, Jim said. Jim said BofA just didn't shine versus the other major banks, and on earnings day Wall Street agreed, sending the stock down 3.5%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, Jim, Morgan Stanley, Goldman Sachs, Wells Fargo, Here's, Morgan Stanley's, Ted Pick, Pick, Goldman, Charlie Scharf, He's, Scharf, Wells, Jane Fraser's, BofA, Jamie Dimon, Jim Cramer's, JPMorgan Organizations: Citigroup, Bank of America, JPMorgan Chase, Investment, Morgan, Morgan Stanley Revenue, LSEG, Wealth, Goldman, Wells, Management, Silicon Valley Bank, Club, Citigroup Revenue, Citi, Bank of America Revenue, Bank, of, JPMorgan Chase Revenue, JPMorgan, CNBC, Citibank, Reuters Locations: Goldman Sachs, Wells Fargo, Silicon, buybacks, Wells

☆ Goldman Sachs is strong, Netflix raises questions: What we learned from earnings this week
▼ + stars: | 2024-04-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Of those companies, 73.6% have beaten earnings expectations, FactSet data shows. Investment banks doing well, BofA not so much The major banks that posted results this week — Goldman Sachs , Morgan Stanley and Bank of America — beat earnings expectations. Bank of America shares fell more than 3% despite the company beating on both top and bottom lines. Mixed earnings picture Although nearly three-quarters of the reported earnings so far have topped expectations, the broader earnings picture is more muddled. The blended earnings growth rate, which considers the reports already out and the estimates from those still pending, sits at just 0.16%.

Persons: — Goldman Sachs, Morgan Stanley, Alastair Borthwick, Wells, Mike Mayo, Goliath, Mayo, Goldman Sachs, Wells Fargo's Mayo, Goldman, Ebrahim Poonawala, cyberattack, George Hill, Doug Anmuth, Jessica Reif Ehrlich, Canaccord Genuity, Chris Harvey Organizations: Investment, Bank of America —, Bank of America, Bank of America's, JPMorgan, Wells, of America, Deutsche, Netflix, NFLX's, Revenue, Microsoft, Exxon Mobil

☆ Caviar, champagne, and IPOs: At the Jefferies Private Internet Conference, tech dealmaking was back
▼ + stars: | 2024-04-19 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference. After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. Related story"Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&A," according to Greenberg.

Persons: Jefferies, —, Cameron Jefferies, Jason Greenberg, Greenberg, Goldman Sachs, David Solomon, Reddit, Marc Andreessen, Rich Handler, Andreessen Horowitz, Neerav, Goldman, JP Morgan Chase, we've, Lester Organizations: Service, Jefferies Private Internet Conference, Technology, Media, Telecom Investment Banking, Jefferies, Global Technology, Informatica, Epic, Venture, Jefferies Private Locations: Neerav Kingsland

Netflix and a popular beauty stock were featured among Friday's biggest analyst calls. Analyst Rob Sanderson initiated coverage of DoorDash with a buy rating and $170 price target, citing strong execution. Alongside the upgrade, Blum downgraded Sunnova Energy to an equal weight rating and slashed his price target to $6 from $11, citing a higher-for-longer rate environment. "Share gains upmarket by Shopify support confidence in the durability of growth against tempered consumer spending expectations," wrote analyst Keith Weiss. The stock has tumbled 11% this year, but could rally 22% based on the firm's adjusted $85 price target.

Persons: Canaccord Genuity, Rob Sanderson, DoorDash, Sanderson, – Samantha Subin, Wolfe, Steven Chubak, BAC's, Chubak, bode, Wells, Michael Blum, Blum, Biden, Samantha Subin, Morgan Stanley, Keith Weiss, Weiss, — Samantha Subin, Canaccord, Maria Ripps, Steven Cahall, Price, Doug Anmuth, Morgan Stanley's Benjamin Swinburne, Jefferies, Ashley Helgans, Helgans, Fred Imbert Organizations: CNBC, Netflix, Friday's, Jefferies, Capital, Industry, Wolfe Research, Bank of America, of America, SCHW, Sunnova Energy, NOVA, Ulta Locations: Wells Fargo, China, Thursday's, Canada

☆ A lawyer, a banker and a speech therapist: Meet the 12 jury members of Trump’s hush money trial
▼ + stars: | 2024-04-18 | by ( Rebecca Shabad | ) www.cnbc.com time to read: +3 min

He is married, likes to do "anything outdoorsy," and gets news from The New York Times, Fox News and MSNBC. He gets news from The New York Times, The Wall Street Journal and Google. Juror 5A young woman who is a Harlem resident and works as a teacher. Juror 6A young woman who lives in Chelsea and works as a software engineer. Juror 10A man who works in commerce, reads The New York Times and listens to podcasts on behavioral psychology.

Persons: Donald Trump, Stormy Daniels, Donald, who's Organizations: U.S, Prosecutors, The New York Times, Fox News, MSNBC, Street, Google, Facebook, Wall Street Journal, New York Post, Washington, CNN, New York Times, NBC Locations: Manhattan, New York City, U.S, New York, West Harlem, Trump, Chelsea, Harlem

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