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☆ Shares of Wynn Resorts rise after another great quarter but are still cheap
▼ + stars: | 2024-05-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Shares of Wynn Resorts popped 2% in after-hours trading Tuesday after the casino operator reported stronger-than-expected quarterly results, driven by the Super Bowl in Las Vegas and the recovery in China's Macao region. Macao It was a double beat in Macao, with both properties (Wynn Palace and Wynn Macao) reporting revenue and profit results better than Street expectations. Las Vegas Las Vegas put up a record first quarter of adjusted property EBITDAR. The Wynn Las Vegas resort and casino at dusk in Las Vegas, Nevada, US, on Monday, May 8, 2023. Wynn Resorts Ltd. is scheduled to release earnings figures on May 10.

Persons: We're, —, DraftKings, Wynn, Jim Cramer's, WYNN, Jim Cramer, Jim, Bridgett Bennett Organizations: Wynn Resorts, Super, LSEG, Vegas Sands, MGM Resorts International, Wynn, Vegas Las, Super Bowl, Management, CNBC, Wynn Resorts Ltd, Bloomberg, Getty Locations: Las Vegas, China's Macao, Las Vegas , Boston, Macao, China, Vegas, Wynn Macao, Vegas Las Vegas, Boston, UAE, Las Vegas , Nevada

☆ This emerging Nike competitor is set to break out ahead of earnings, according to the charts
▼ + stars: | 2024-05-07 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Has the time arrived for the stock to break free from a range heading into earnings next week? There has been much hype around this emerging Swiss company that grew revenues by 68% in 2022, 46% in 2023, and are expected to grow revenues by more than 25% in 2024 and 2025. Technically speaking ,that range of overhead resistance for On Holding (ONON) is easy to see on the weekly chart below. There was weekly downtrend line resistance originating from the 2022 high that was broken in Q1 '24. On earnings ahead Heading into earnings, I think it's wise to refer back to Q4 of 2023 earnings announced on March 12.

Persons: Shoemaker, I've, CROX, Todd Gordon, Gordon, ONON Organizations: Nike, Air, swiss, Inside Edge, Edge Capita Locations: Swiss, U.S, SKX

☆ Russia's military is so hard up for manpower that it now pays more than the oil and gas sector
▼ + stars: | 2024-05-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia's military is paying more in sign-on bonuses and salaries than the oil and gas sector. Russia's oil and gas revenues have been keeping its war chest filled. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is facing a labor crisis as its war with Ukraine siphons manpower away from the country's economy. Russia's oil and gas sector has been paying wages that are at least two-thirds higher than the national average wage since 2017, per Bloomberg calculations based on official data.

Persons: — Organizations: Service, Bloomberg, Business Locations: Russia, Ukraine

Goldman Sachs hiked its price target on Nvidia, calling for nearly 20% more gains ahead. The firm upgraded shares of Target to buy from neutral, and reiterated its $180 per share price target. The firm upgraded the clothing retailer to buy from neutral and increased its target price to $28 per share from $21. — Brian Evans 5:45 a.m.: Goldman Sachs raises Nvidia price target on still strong AI demand Goldman Sachs sees enough demand for artificial intelligence to drive sky high Nvidia even higher. The firm reiterated a buy rating on the chipmaker and raised its 12-month price target on the chipmaker to $1,100 from $1,000.

Persons: Goldman Sachs, TGT, Paul Lejuez, — Brian Evans, Wall, Brian Evans, Stephanie Yee, Toshiya Hari, Myles Allsop, Allsop, Fred Imbert Organizations: CNBC, Nvidia, UBS, Vale, Citi, Target, JPMorgan, UL Solutions, UL Locations: Monday's, North America, U.S, stoke, RIO

☆ Stocks making the biggest moves premarket: Walt Disney, Hims & Hers, Palantir and more
▼ + stars: | 2024-05-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Hims & Hers Health — The stock surged 14% after the telehealth consultation platform posted second-quarter revenue guidance that topped estimates. Hims & Hers Health anticipates revenue in the range between $292 million and $297 million, better than the LSEG consensus consensus estimate of $288 million. Gap — Shares gained 3.2% after Citi upgraded the apparel retailer to buy from neutral and raised its price target, saying Gap could surpass first-quarter earnings expectations. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the StreetAccount consensus estimate of $95 million. Simon Property Group — Shares rose 0.7% after Simon Property Group posted first-quarter revenue that beat expectations.

Persons: Walt Disney, Palantir, Lucid, Microship, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel Organizations: Walt Disney Company, Citi, UBS, LSEG, Revenue, Simon Property

☆ UBS swings back to profit and smashes earnings expectations for the first quarter
▼ + stars: | 2024-05-07 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

UBS logo is seen at the office building in Krakow, Poland on February 22, 2024. UBS on Tuesday reported a swing back to profit after two quarterly losses as it smashed first-quarter expectations, with results bolstered by higher wealth management revenues. Lower expenses and consolidation benefits following the takeover of Credit Suisse in June 2023 also helped the bank post a net profit of $1.8 billion in the first quarter, ahead of a consensus forecast in an LSEG poll of $721.4 million. The Swiss banking giant is continuing to process the mammoth integration of its former rival. The firm said Tuesday that it expects to complete the merger of UBS AG and Credit Suisse AG into a single U.S. intermediate holding company in the second quarter, and the merger of its Swiss entities in the third quarter.

Organizations: UBS, Credit Suisse, UBS AG, Credit Suisse AG Locations: Krakow, Poland, Swiss, U.S

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ A Disney earnings trade more likely to make money than just buying call options outright
▼ + stars: | 2024-05-06 | by ( Michael Khouw | ) www.cnbc.com time to read: +3 min

We'll take a deeper dive into what options traders are betting on in Disney and propose an alternative with a higher probability for a profit. Disney (DIS) traded above average call volume on Friday, with calls outpacing puts by nearly two-to-one. While that is higher than the long-term average earnings-related move, Disney has been quite volatile in recent quarters. Buyers of those calls are betting Disney will rally at least 6.75% by the end of the week. An investor who is willing to take more risk in exchange for a higher probability of profit might instead consider a diagonal call spread.

Persons: outpacing, Julie Biel Organizations: Disney, DIS, week's Locations: Disney

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, U.S. Steel, Micron, Disney, Citi & more
▼ + stars: | 2024-05-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley initiates EHang Holdings as overweight Morgan Stanley said it's bullish on shares of the Asia autonomous aerial vehicle company. Morgan Stanley downgrades Victoria's Secret to underweight from equal weight Morgan Stanley said it sees "underappreciated downside" for the lingerie company. Citi downgrades Peloton to neutral from buy Citi said in its downgrade of the stock that it has "limited visibility." Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of U.S. Steel that it likes the company's "transformational investments." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating on Apple after analyzing the company's quarterly 10-Q report.

Persons: Morgan Stanley, it's, Baird, Morgan Stanley downgrades, Wells, Bausch, Lomb, Apple, Johnson, MLCO, Moffett, Melius, inferencing, JPMorgan Organizations: EHang Holdings, EH, Deutsche Bank, Disney, Deutsche, Micron, Citi, Comerica, CMA, Steel, U.S . Steel, Apple, Services, UBS, JCI, Barclays, Resorts, Nvidia, Broadcom, AMD, Microsoft, JPMorgan, Group, Bank of America, Santander Brasil, of America Locations: Asia, U.S

☆ Russia saw its oil revenue double in April despite Western sanctions
▼ + stars: | 2024-05-06 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Russia's oil revenue soared by 90% in April compared to the previous year, Bloomberg reported. The rise comes as sanctions have struggled to curb Russian energy flows since the war in Ukraine began. AdvertisementThe major funding sources for Vladimir Putin's invasion of Ukraine — the country's oil and gas revenues —doubled in April despite sanctions. Bloomberg data also indicates Moscow will see approximately $126 billion in oil and gas tax revenue in 2024. That said, Bloomberg reported that April's oil and gas revenue to Russia's budget still dropped by about 6.4% compared to March, primarily due to substantial subsidies to the nation's fuel producers.

Persons: —, Vladimir Putin's, Bloomberg Organizations: Bloomberg, Service, Russia's Federal Tax Service, Bloomberg Economics Locations: Ukraine, Russia's, Russia, Moscow, China, India, Persian

☆ Disney reports earnings before the bell Tuesday. Here's what Wall Street is watching
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Walt Disney puts its top-tier media dominance to the test when it reports results before the bell Tuesday. Wells Fargo's Steven Cahall upped his price target to $141 a share, suggesting upside of 24%. StreetAccount estimates call for 229.35 million subscribers across the business unit and nearly 155 million Disney+ subscribers. At its last earnings call in February, Disney said it expects between 5.5 million to 6 million added subscribers in the second quarter. He forecasts an additional 4 million subscribers each year.

Persons: Walt Disney, Nelson Peltz, Jessica Reif Ehrlich, David Karnovsky, Wells Fargo's Steven Cahall, Deutsche Bank's Bryan Kraft, Disney, Vijay Jayant, America's Ehrlich Organizations: Trian Partners, LSEG, Walt Disney, Bank of America, JPMorgan, Disney, Deutsche, DTC, Netflix, Bank Locations: F1Q

6:41 a.m.: Morgan Stanley raises Carvana price target Morgan Stanley likes what it sees from Carvana after its "operational turnaround." The bank reiterated an underweight rating on the used car retailer but raised its price target to $75 per share from $45. "Throughout 2023, CVNA transitioned from a distressed equity into an operational turnaround with a restructured interest burden," Morgan Stanley analyst Adam Jonas said. The firm downgraded the HVAC stock to neutral from buy and lowered its price target to $68 per share from $74. MU YTD mountain MU year to date — Brian Evans 5:45 a.m.: Morgan Stanley upgrades U.S. Steel There's a big buying opportunity in U.S. Steel after a recent pullback this year, according to Morgan Stanley.

Persons: Morgan Stanley, Baird, Morgan Stanley's, CVNA, Adam Jonas, — Brian Evans, Wells, Mike Mayo, Mayo, Brian Evans, Johnson, Damian Karas, " Karas, Tristan Gerra, Gerra, Carlos De Alba, Alba, De Alba, Fred Imbert Organizations: CNBC, U.S, Steel, Micron Technology, Wells Fargo, Citi, UBS, Johnson, JCI, Micron, MU, Nippon Steel, U.S . Steel, . Steel Locations: Carvana, Wells Fargo, Friday's, U.S

☆ Palantir shares fall 7% on lower-than-expected guidance
▼ + stars: | 2024-05-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Palantir shares fell around 7% in extended trading on Monday after the defense tech firm reported weaker-than-expected guidance. Palantir expects second-quarter revenue to fall between $649 million to $653 million, versus the $653 million expected by LSEG. Palantir reported $105.5 million in net income for the quarter, or 4 cents per share, compared with $16.8 million, or 1 cent per share, in the year-ago quarter. Earlier this year, Palantir signed a $178 million contract with the U.S. Army to help develop a next-generation, field-deployable sensor station. Karp said Palantir conducted more than 660 bootcamps during the first quarter.

Persons: Alex Karp, Palantir, Karp Organizations: Russell Senate, LSEG, U.S . Army Locations: Washington ,

☆ The AI boom reminds this expert of the dot-com bubble — with one dangerous difference
▼ + stars: | 2024-05-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe AI boom resembles the dot-com bubble — but there's one big difference that makes this craze far more dangerous, says one expert. "Many dot-com companies that drove the internet change went broke doing it. Many AI companies driving as big a change will go broke or lose half their value." "The giant AI pioneers won't go broke, but if AI losses drive their stock prices down, lots of investors will suffer," Gordon said. He's previously drawn a line between the dot-com bubble and the tech-stock boom.

Persons: —, Erik Gordon, Gordon, He's Organizations: Service, Business, University of Michigan's Ross School of Business, Nvidia, Microsoft, Big Tech

☆ Tech stocks like Apple are table-pounding buys following earnings, Morgan Stanley says
▼ + stars: | 2024-05-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

There's still plenty of room for upside in tech stocks, Morgan Stanley said earlier this week. CNBC Pro combed through Morgan Stanley research to find the firm's favorite overweight-rated stocks based on the latest results and updated forecasts. "We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this," he said. Spotify Shares of the music streaming giant are too attractive to ignore following the company's blowout earnings report in late April, according to the firm. ... We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this.

Persons: Morgan Stanley, Brian Nowak, durably, Nowak, Keith Weiss, Weiss, Morgan Stanley's, Benjamin Swinburne, Swinburne, that's Organizations: CNBC, Apple, Microsoft, Spotify, 28X Locations: China

☆ Warren Buffett's company dumped stocks and grew its cash pile to a record $189 billion last quarter
▼ + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett's Berkshire Hathaway grew its cash pile to a record $189 billion last quarter. Berkshire dumped a net $17 billion of stocks, and boosted its buyback spend to $2.6 billion. The famed investor's Berkshire Hathaway raised its stockpile of cash and Treasury bills by $21 billion to a record $189 billion — a 13% increase in just three months. Related storiesThe centibillionaire and his team only spent $2.7 billion on stocks last quarter, while they dumped $20 billion worth, marking their largest quarterly disposal in several years. AdvertisementBerkshire's net stock sales totaled $24 billion in 2023, which was a big turnaround from its purchase of $34 billion of stocks on a net basis in 2022.

Persons: Warren, Berkshire Hathaway, —, Buffett, NetJets Organizations: Berkshire, Service, BNSF Railway, Travel Centers Locations: Woodstock

☆ Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
▼ + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +13 min

Youth unemployment, income inequality, regional disparities, and Russian oil remain big problems. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil. "The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. Indian demand for Russian oil has cooled in recent months as new sanctions have made it more expensive, but the buying remains controversial. Alexandr Demyanchuk/AFP/Getty ImagesIndia the IT hubUnder Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.

Persons: Narendra Modi, Elon Musk, Jamie Dimon, Tim Cook, —, Modi, Goldman Sachs, JPMorgan's Dimon, He's, Musk, Apple's Cook, Joe Biden, Sundar Pichai, Anna Moneymaker, Jensen Huang, Satya Nadella, Alphabet's Sundar Pichai, Richard Rossow, Demonetisation, Kunal Sen, Sen, Tim Graham, Rossow, tycoons Mukesh Ambani, Gautam Adani, Mukesh Ambani, Isha Piramal, Rihanna, Shloka Mehta Ambani, Akash Ambani, Radhika Merchant, Anant, Radhika, Ambani, they'd, Neelima Jain, Vladimir Putin, Alexandr Demyanchuk, Sanjay Shetty, Shetty Organizations: Service, titans, Monetary Fund, Gross, World Bank, Economic, of New, Google, Apple, Nvidia, Microsoft, India, Studies, Center for Strategic & International Studies, United Nations, United Nations University World Institute for Development Economics, University of Manchester, International Labor Organization, Oxfam, Bloomberg, Reliance Industries, Adani, CSIS, Indian, Shanghai Cooperation Organisation, Getty, Modi, Big Tech, Randstad, Economic Times Locations: India, Britain, Japan, Germany, China, of New York, Nimaj, Rajasthan, North Korea, Bihar, Uttar Pradesh, Russia, Ukraine, Europe, Moscow, Western, Samarkand, AFP, Randstad India

☆ Apple on pace for best day since 2022 after earnings beat, $110 billion stock buyback
▼ + stars: | 2024-05-03 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Apple shares popped more than 6% on Friday morning after the company reported better-than-expected second-quarter earnings and the largest-ever stock buyback program. If the gains hold until the market closes, it will be the best day for Apple shares since Nov. 30, 2022. The iPhone maker announced on Thursday it would repurchase $110 billion of its shares, the biggest buyback in U.S. history, surpassing Apple's prior repurchases. But overall sales decreased 4% and iPhone sales dropped 10% year over year during the quarter, indicating flagging demand for the smartphone's latest generation. Apple CEO Tim Cook told CNBC that quarterly sales suffered from a difficult comparison to the year-earlier period.

Persons: Tim Cook, Morgan Stanley, CNBC's Michael Bloom Organizations: Apple, CNBC, Bank of America, JPMorgan Locations: Mainland China, iPads, China

☆ A top mind at UBS Global Wealth Management explains why investors' meltdown over elevated interest rates is misguided — and shares a 5-part investing blueprint as stocks continue to rise
▼ + stars: | 2024-05-03 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Less than a month ago, analysts were calling for subdued earnings growth of just 3%. Although higher rates can be a headache, Lefkowitz said earnings growth matters most. Instead of obsessing over when interest rates will fall, Lefkowitz said investors should consider the reasoning behind the Fed's decisions. "If rates are rising and that's leading to more confidence in the earnings growth outlook, then that shouldn't be a headwind to markets," Lefkowitz said. Follow this 5-part investing game planHealthy earnings growth and a resilient economy have strategists at UBS GWM bullish about US stocks.

Persons: Jonathan Golub, weren't, that's, David Lefkowitz, Lefkowitz, —, shouldn't Organizations: UBS Global Wealth Management, UBS, Business, UBS GWM, Bank of America, Federal, Healthcare

☆ These global stocks will soar on an $858 billion electric boom, Goldman says, giving one 45% upside
▼ + stars: | 2024-05-03 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

They project that 800 billion euros ($857.5 billion) will be spent on Europe's power transmission and distribution, thanks in part to "years of under-investment." Here are three of Goldman's buy-rated stocks with over 30% upside potential in the next 12 months. That gives the German stock — which is on Goldman's conviction list — about 35% potential upside. Goldman has a target price of 2,024 British pence on the stock, giving it around 42.8% upside potential. Goldman has a target price of 135 euros on the stock, giving it 45.5% upside potential.

Persons: Goldman Sachs, Goldman, Elia, — CNBC's Michael Bloom Organizations: E.on Goldman, E.on, Goldman Locations: Europe, Belgian

☆ Apple CEO Tim Cook made $63 million last year — here's how that breaks down
▼ + stars: | 2024-05-03 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Apple CEO Tim Cook's base salary has been $3 million a year since 2016. His total compensation was $63.2 million in 2023, down from $99.4 million the previous year. AdvertisementApple chief Tim Cook has been paid an annual salary of just $3 million since 2016. However, the CEO of the second-most valuable US company also gets stock awards and a performance-based bonus, which boosts his overall earnings. His pay packet was made up of $46.9 million in stock awards and $10.7 million in non-equity incentive plan compensation.

Persons: Tim Cook's, —, Tim Cook, Cook, It's, Apple Organizations: Apple, Service, SEC, Forbes, Bloomberg, Developers Conference, Business Locations: China

☆ 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

☆ Immigrant workers are helping boost the U.S. labor market
▼ + stars: | 2024-05-03 | by ( Kate Rogers | ) www.cnbc.com time to read: +1 min

The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce last year, a new record, according to Bureau of Labor Statistics data. Despite the U.S. adding fewer-than-expected jobs in April, the labor force participation rate for foreign-born workers ticked up slightly, to 66%. "We don't have enough workers participating in the labor force and our birth rate has dropped down 2% last year from 2022 to 2023.

Persons: Jennie Murray, Phillip Swagel, Swagel Organizations: Federal, of Labor Statistics, Workers, National Immigration, Congressional Locations: America

☆ 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

☆ Buffett's Berkshire Hathaway trouncing the market this year and near a record heading into shareholder meeting
▼ + stars: | 2024-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Berkshire Hathaway shares are near all-time highs ahead of the conglomerate's annual shareholder meeting, but a few worries are weighing on analysts' minds. BRK.B ALL mountain Berkshire Hathaway Class B shares But that doesn't mean the stock is without its problems. Berkshire Hathaway Energy Berkshire Hathaway has been contending with several high-profile lawsuits in recent months, including the settlement this year of a billion-dollar lawsuit with the Haslam family over how Berkshire valued Pilot Travel Centers, a truck-stop giant. Her 12-month price target of $472 implies Berkshire shares can climb roughly 18% from Thursday's closing price of $400.60 per share. "I think that the future is very bright for Berkshire Hathaway," Shanahan said.

Persons: Berkshire Hathaway, Cathy Seifert, Berkshire Hathaway Energy Berkshire Hathaway, Haslam, PacifiCorp, Warren Buffett's Berkshire Hathaway, Buffett, Edward Jones, James Shanahan, CFRA's Seifert, Seifert, Shanahan, Bull Organizations: Berkshire, Berkshire Hathaway, CFRA Research, Berkshire Hathaway Energy Berkshire, Travel Centers, Berkshire Hathaway Energy, Federal Reserve, CNBC Locations: Berkshire, Oregon, Northern California, Warren, Woodstock, Omaha , Nebraska

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