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☆ Morgan Stanley delivers a much-needed rebound quarter and eases concerns about a key overhang
▼ + stars: | 2024-04-16 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Morgan Stanley delivered mostly better-than-expected first-quarter results Tuesday morning — a much-needed report for the bank, whose stock has lagged industry peers and tested our patience. Morgan Stanley Why we own it : We own Morgan Stanley for the rebound taking place in IPO and M & A activity along with growth in wealth management, which provides more durable fee-based revenues. MS YTD mountain Morgan Stanley YTD Shares of Morgan Stanley were up more than 2% after Tuesday's earnings release and conference call, building on Monday's modest gains, which broke a three-session losing streak. Capital returns Morgan Stanley repurchased 12 million shares in the first quarter, at an average purchase price of $86.79 per share. Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York.

Persons: Morgan Stanley, Goldman Sachs, Morgan Stanley's, Ted Pick, we've, Sharon Yeshaya, Morgan Stanley's CET1, Morgan Stanley YTD, Pick, We've, Yeshaya, Morgan, it's, Morgan Stanley repurchased, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: LSEG, Wealth Management, Investment Management, Institutional Securities, Equity, Morgan Stanley's Wealth Management, Street, Management, Federal Deposit Insurance Corp, Capital, CNBC, Times, Bloomberg, Getty Locations: New York

☆ Emails show how a right-wing group steers GOP leaders on major policy issues
▼ + stars: | 2024-03-17 | by ( Bob Ortega | Daniel Medina | ) edition.cnn.com time to read: +18 min

Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.

Persons: State Jay Ashcroft, “, Ashcroft, Kacen Bayless, FGA, –, Chuck Gray, ” Gray, Gray, ”, Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, ’, Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia

☆ Bitcoin firm MicroStrategy pops 27% in two days as company's crypto stake hits $11 billion
▼ + stars: | 2024-02-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

In this article MSTR Follow your favorite stocks CREATE FREE ACCOUNTMicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. MicroStrategy, along with its subsidiaries, now owns about 193,000 bitcoins worth $11 billion. watch nowInvestors have been increasingly bullish on the bitcoin trade following the SEC's approval of multiple spot bitcoin exchange-traded funds last month. "Institutional capital is still getting up to speed with bitcoin ETFs. For example, MicroStrategy has the ability to acquire bitcoin using proceeds from debt and equity issuances, the firm said.

Persons: Michael Saylor, Joe Raedle, MicroStategy, Andrew King, bitcoin, Bitcoin, Ryan Rasmussen, —, MicroStrategy, Cowen, CNBC's Dylan Butts, Ari Levy Organizations: Mana Convention, Getty, Bitwise Asset Management, Research, Benchmark Locations: Wynwood, Miami , Florida, bitcoin, Bitcoin

☆ The Wild West carbon credit era might be coming to an end as sales hit record high
▼ + stars: | 2024-02-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Carbon credits have been through a tough time. But since then, the voluntary carbon market (VCM), where carbon credits are traded, has faced intense criticism for the actual emission reduction the credits provided. "So, definitely, it was a bumpy ride," said Allister Furey, cofounder and CEO of carbon credit rating and data provider Sylvera. In a vote of confidence from venture capitalists, January also saw carbon credit insurer CarbonPool secure $12 million, carbon credit investment platform Cultivo raise $14 million, and carbon project developers platform BlueLayer come out of stealth with $10 million. In all, it signals the start to the end of the carbon credit "wild west," Sylvera's Furey said.

Persons: couldn't, Verra's, Allister Furey, issuances, Mark Kenber, Sylvera's Furey, Lubomila Jordanava, Nathan Bonnisseau, Lubomila Jordanova, Magnus Drewelies, Ben Rubin Organizations: Business, Guardian, BI, Sylvera, Carbon Business

☆ Here’s what you should know about adding emerging markets bond exposure to your portfolio
▼ + stars: | 2024-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

It may be time to consider adding emerging markets bonds to your fixed-income portfolio. His Vanguard Emerging Markets Bond Fund (VEGBX) is rated five stars by Morningstar. BlackRock also likes emerging markets, specifically external currency debt. Often issued in U.S. dollars, hard currency EM debt is also cushioned from EM currency weakness as EM central banks cut rates," she wrote. He suggests working with an advisor if you want to add EM bonds to your portfolio.

Persons: shying, Daniel Shaykevich, Morningstar, you'd, Shaykevich, Wei Li, Vanguard's Shaykevich, It's Organizations: Vanguard, Emerging Markets Bond Fund, BlackRock, U.S, BlackRock Investment Locations: Treasurys, America, Mexico, Brazil, Saudi Arabia

☆ Linde shares pop as industrial gas giant underpromises and over-delivers — again
▼ + stars: | 2024-02-06 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

We expect another year of strong earnings growth from this best-of-breed industrial stock. Quarterly results As we can see in the chart below, this was an all-around strong quarter for Linde. In APAC (27.6% of sales), growth was led by end markets in chemicals, energy, and manufacturing. Updated expectations are for a mild recovery in a few end markets in China for the first half of 2024. EMEA (29.3% of sales) showed growth across all "resilient" end markets, which Linde defines as more consumer-related (healthcare, food and beverage, and electronics), while industrial end markets (manufacturing, chemicals and energy, and metals and mining) lagged.

Persons: Linde, shouldn't, —, haven't, We'll, Jim Cramer's, Jim Cramer, Jim Organizations: Linde, LIN, EMEA, Electronics, CNBC, Tanks, Bloomberg, Getty Locations: Americas, Africa, APAC, Asia, China

☆ The IPO market is looking very shaky and facing challenges galore
▼ + stars: | 2024-02-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

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

☆ These new bond ETFs will let investors target specific parts of the corporate market
▼ + stars: | 2024-01-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A new group of bond funds aims to give investors a way to bet on specific segments of the corporate bond market, potentially creating more control in an interest rate environment that looks to be volatile in 2024. F/m Investments announced Wednesday that it will launch three corporate bond funds targeting certain times to maturity. The new suite of funds starts with three offerings: a 2-Year Investment Grade Corporate Bond ETF (ZTWO), a 3-Year Investment Grade Corporate Bond ETF (ZTRE) and a 10-Year Investment Grade Corporate Bond ETF (ZTEN). Benchmark series, which F/m launched starting in 2022 and gives investors tools to target specific maturities on the Treasury curve. Corporate bond defaults soared 80% in 2023, though most of the damage was done from lower-rated and heavily indebted companies.

Persons: Alexander Morris, Morris Organizations: Investments, Corporate, U.S, U.S . Treasury Locations: U.S

☆ Morgan Stanley revenue tops estimates, but CEO warns of geopolitical, economic risks ahead
▼ + stars: | 2024-01-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Shares of Morgan Stanley initially climbed in premarket trading following the results, but the stock closed Tuesday's session 4.2% lower. Morgan Stanley said its revenue from investment banking rose 5% from a year ago on the back of a 25% increase in fixed income underwriting revenue amid higher investment-grade issuances. Pick is a Morgan Stanley veteran who rose through the ranks to lead the bank's Wall Street operations.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick Organizations: Federal Deposit Insurance Corp, Securities, Exchange Commission, Firm, Wealth, CNBC PRO Locations: New York City, U.S, York

☆ Israel says it raised $8 billion of debt since start of war with Hamas
▼ + stars: | 2023-11-13 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

Israel Defense Forces/Handout via REUTERS Acquire Licensing RightsJERUSALEM, Nov 13 (Reuters) - Israel has raised about 30 billion shekels ($7.8 billion) in debt since the start of the war with Hamas militants, the Finance Ministry said on Monday. Slightly more than half of that - 16 billion shekels - was dollar-denominated debt raised in issuances in international markets, it said. The ministry on Monday raised another 3.7 billion shekels in the local market in its weekly bond auction. As a result, Israel recorded a budget deficit of 22.9 billion shekels in October, a leap from 4.6 billion in September and pushing up the deficit over the prior 12 months to 2.6%. But Bank of Israel Governor Amir Yaron has said the government needs to balance "supporting the economy and maintaining a sound fiscal position."

Persons: Benjamin Netanyahu, Amir Yaron, Steven Scheer, Hugh Lawson Organizations: Palestinian, Hamas, Israel Defense Forces, REUTERS Acquire, Rights, Finance, Bank, Israel, Bank of Israel, Thomson Locations: Gaza, Israel, issuances

☆ Laos is spiraling toward a debt crisis as China looms large
▼ + stars: | 2023-11-09 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +1 min

An alarming debt crisis has unfolded in Laos in recent years, raising worries about the tiny nation's obligation to its biggest creditor — China. China became the largest foreign investor in Laos in late 2013 and since then, its influence has only continued to skyrocket. Laos borrowed billions from President Xi Jinping's government to finance railways, highways and hydroelectric dams, depleting its foreign reserves in the process. It's widely feared the country may be on the brink of economic collapse if the economic crisis spins out of control. But without a clear-cut debt reduction deal with China, Laos' financial hardships will not likely ease, analysts warn.

Persons: Xi Jinping's, kip Organizations: Initiative, U.S ., Asian Development Bank Locations: Vientiane, Laos, China, Beijing

☆ High-interest rates have led the private sector to buy debt: Former KC Fed President Thomas Hoenig
▼ + stars: | 2023-10-16 | 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 EmailHigh-interest rates have led the private sector to buy debt: Former KC Fed President Thomas HoenigRaghuram Rajan, University of Chicago professor, Former Kansas City Fed President Thomas Hoenig, join 'The Exchange' to discuss the Fed decision to Fed quantitative easing, an increase in new debt issuances, and how a shift in who is buying up debt is growing treasury rates.

Persons: Thomas Hoenig Raghuram Rajan, Thomas Hoenig Organizations: KC Fed, University of Chicago, Former Kansas City Fed

☆ China central bank ramps up liquidity support via policy loans, rate unchanged
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File photo Acquire Licensing RightsSHANGHAI, Oct 16 (Reuters) - China's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected. It held the rate on the one-year policy loans at 2.50%, unchanged from the previous operation. With 500 billion yuan worth of MLF loans maturing, the PBOC is injecting fresh liquidity into the banking system. Market watchers polled by Reuters last week predicted no change to the MLF rate.

Persons: Tingshu Wang, PBOC, Stone Zhou, Xing Zhaopeng, Christian Schmollinger Organizations: People's Bank of China, REUTERS, Rights, Reuters, Global Markets, UOB, ANZ, Shanghai, Thomson Locations: Beijing, China, U.S, UOB China, Liaoning, Chongqing, United States

☆ Beware the bears: Why it's too easy to be a seller right now
▼ + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Now that we are almost back to normal via de-inversion, what does that say to the billionaire class? The stock sellers show no fortitude. 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jerome Powell, Brent, didn't, Jim Cramer's, Jim Cramer, Jim, Kai Pfaffenbach Organizations: Treasury, Costco, Organization of Petroleum, Club, Costco Wholesale, Nike, Honeywell, Nvidia, Fed, Jim Cramer's Charitable, CNBC Locations: Saudi Arabia, Frankfurt, Germany

HONG KONG, Sept 26 (Reuters Breakingviews) - Global banks in Hong Kong are feeding on scraps. Bankers in Hong Kong are working on smaller issuances than they typically took on in the past, Dealogic data shows. Among the bigger ones in the works, courier SF Holding (002352.SZ) has filed for a secondary listing in Hong Kong and may raise up to $3 billion, per IFR. Fees on Indian deals are tiny, for example, and costs in Hong Kong are high. Overall investment banking fees in Hong Kong are set to come in at the lowest level in a decade too, Dealogic data shows, with HBSC top of the table.

Persons: Morgan Stanley, Debtwire, Una Galani, Pranav Kiran Organizations: Reuters, UBS, Bank of America, Bankers, HK, SF, Thomson Locations: HONG KONG, Hong Kong, New York, Swiss, United States, China, brimming, Shenzhen, Asia, India, U.S, Asia Pacific, Japan

Leslie Maasdorp, Vice President and chief financial officer (CFO) of New Development Bank (NDB), speaks during an interview with Reuters at the bank's headquarters in Shanghai, China July 10, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 23 (Reuters) - The New Development Bank of the BRICS group of nations will not be announcing new members at the BRICS Summit in South Africa this week, its Chief Financial Officer Leslie Maasdorp told Reuters on Wednesday. The bank, which was set up in 2015 to give BRICS members Brazil, Russia, India, China and South Africa a greater say in financing infrastructure than in Western-led institutions like the World Bank, is keen to attract new members to boost its capital base after U.S. sanctions on Russia hobbled its lending. "The process of ratifying new countries is happening at the discussion of the (BRICS) leaders, which they are having without us as the bank," Maasdorp told Reuters in an interview on the sidelines of the summit. ($1 = 94.4650 roubles)Reporting by Rachel Savage; Writing by Bhargav Acharya; Editing by Alexander Winning and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Leslie Maasdorp, Aly, Maasdorp, Rachel Savage, Bhargav Acharya, Alexander Winning, Emelia Organizations: New Development Bank, Reuters, REUTERS, Rights, World Bank, United, United Arab Emirates, U.S ., Thomson Locations: Shanghai, China, Rights JOHANNESBURG, South Africa, Brazil, Russia, India, Western, Egypt, Bangladesh, United Arab, Saudi Arabia, Algeria, Argentina

☆ Watch CNBC's full interview with Goldman Sachs' Alec Phillips
▼ + stars: | 2023-08-22 | 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 EmailWatch CNBC's full interview with Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss the likelihood of a government shutdown, the Treasury's attempt to raise funds through bond issuances and partisan disagreements about government spending.

Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research

☆ The market correction has room to run given bond yields, says Reynolds Strategy's Brian Reynolds
▼ + stars: | 2023-08-22 | 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 EmailThe market correction has room to run given bond yields, says Reynolds Strategy's Brian ReynoldsBrian Reynolds, Reynolds Strategy chief market strategist, and CNBC's Dominic Chu join 'The Exchange' to discuss a concerning rise in bond yields, Schwab to cut jobs and raise debt in investment grade bonds and charting the timeline for treasury issuances.

Persons: Reynolds, Brian Reynolds Brian Reynolds, CNBC's Dominic Chu, Schwab Organizations: Reynolds Strategy

☆ Wall Street is declaring victory too early — the US is still headed for a recession
▼ + stars: | 2023-08-22 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

In theory, these higher interest rates push down demand and slow inflation by forcing companies to cut prices to attract stretched-thin customers. And Americans have been spending right through the higher interest rates: Personal consumption expenditures and retail sales numbers have continued to forge upward. But eventually, this attitude will wane as people realize that the higher rates aren't a flash in the pan. The Treasury yield curve measures the different interest rates that are paid out on various bonds issued by the US government. It's the same story every time, both Kantrowitz and Rosenberg say: Investors are bad at pricing in a recession before it unfolds.

Persons: Michael Kantrowitz, Piper Sandler, Milton Friedman, Bob Doll, Doll, David Rosenberg, Rosenberg, Tom Essaye, Essaye, Granger, Kantrowitz, Jerome Powell, William Edwards Organizations: Philadelphia Fed, Bank of America, JPMorgan, Consumer, Crossmark Global Investments, BlackRock, Silicon Valley Bank, Rosenberg Research, Fed, Auto, Wall, CPI, Institute for Supply Management's, Treasury, Royal Bank of Canada Locations: Silicon, YOLO

☆ A government shutdown is more likely than not, says Goldman Sachs' Alec Phillips
▼ + stars: | 2023-08-22 | 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 EmailA government shutdown is more likely than not, says Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss the likelihood of a government shutdown, the Treasury's attempt to raise funds through bond issuances, and partisan disagreements about government spending.

Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research

Yields on one-year real estate bonds rated AA- have widened 220 bps in the past month, data from Chinabond shows. That divergence reflects investors' expectations that Beijing will support LGFVs in order to minimise financial contagion, despite rising delinquencies among developers. Yields on LGFV bonds issued in August averaged around 3.9%, the lowest seen this year, according to data provider Dealing Matrix(DM). The chorus of economists calling for China to support LGFVs as part of measures to shore up the economy has grown. Chi Lo, Hong Kong-based senior economist at BNP Paribas Asset Management, said Beijing needs to refinance LGFV debt over the next three to five years to prevent the system from imploding.

Persons: Aly, Zhu Yangmo, LGFVs, Zhu, Chi Lo, Li Gu, Samuel Shen, Tom Westbrook, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, China Central Depository, Asset Management, Garden Holdings, HK, China International Capital Corp, Tianjin Infrastructure Investment Group, AAA, China, Thomson Locations: Shanghai, China, Rights SHANGHAI, SINGAPORE, Hainan, Beijing, Tianjin, Hong Kong, imploding, Singapore

HONG KONG, Aug 15 (Reuters Breakingviews) - Hong Kong has lost some permanent appeal. The introduction of two sets of approvals was mandated three decades ago when foreign investors wanted additional protections to invest in the first wave of Chinese firms listing in Hong Kong. China's domestic securities laws have since developed and global investors can now directly buy shares onshore through various channels. That could lead to more onshore shares being issued relative to offshore shares, further diluting minority owners in Hong Kong. In 2020, Hong Kong shareholders vetoed the Bank of Zhengzhou's proposal to avoid such an outcome.

Persons: Hong Kong, HKEX, Una Galani, Thomas Shum Organizations: Reuters, Hong Kong Exchanges, HK, China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, Corporate Governance Association, China Life Insurance, Wall, Hong, Bank of, Companies, Global, Hang Seng China Enterprise Index, Graphics Global, Thomson Locations: HONG KONG, Hong Kong, China, Shanghai, Shenzhen, Hong

☆ Explainer: Dalian Wanda's repayment woes weigh on China property sentiment
▼ + stars: | 2023-07-21 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

HOW MUCH DEBT DOES DALIAN WANDA HAVE? Dalian Wanda Group, owned by China's once-richest man Wang Jianlin, is the country's largest commercial property developer managing many shopping malls, offices and hotels across the country. WHAT IS NEXT FOR DALIAN WANDA? If Wanda Commercial manages this repayment, the next deadline will be a 3.5 billion yuan onshore bond due on July 29. "The extreme volatility in Dalian Wanda's bond prices shows how fearful and emotional the market is at this point."

Persons: DALIAN WANDA, China's, Wang Jianlin, Wanda Commercial, Wanda, Sandra Chow, Scott Murdoch, Jamie Freed Organizations: Dalian Wanda, DALIAN, Dalian Wanda Group, Dalian Wanda Commercial Management, Zhuhai, Bloomberg News, Country Garden, HK, Ocean Group, Thomson Locations: HONG KONG, Dalian, Hong Kong, Asia, Pacific, Sydney

☆ Stocks making the biggest moves premarket: American Express, AutoNation, CSX and more
▼ + stars: | 2023-07-21 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell:American Express — American Express slid 3% after posting smaller-than-expected revenue for the previous quarter, even as earnings per share beat expectations. The company reported second-quarter earnings of $2.89 per share on revenue of $15.05 billion. The company beat on the top and bottom lines, reporting adjusted earnings of $6.29 per share on revenue of $6.89 billion. CSX — CSX fell 4% after the transportation company missed revenue expectations in its second quarter. CSX reported revenue of $3.7 billion, lower than the $3.74 billion consensus estimate from Refinitiv.

Persons: Refinitiv, AutoNation, StreetAccount, Swift, — CNBC's Michelle Fox, Yun Li Organizations: Express, Sunnova Energy, BMO, CSX, PPG, PPG Industries, Refinitiv, Swift Transportation, Scholastic, StreetAccount

The residential solar panel company has outperformed both the Invesco Solar ETF and the S & P 500 in 2023. Sunnova shares are up 25%, while the fund has lost 2%. NOVA YTD mountain Sunnova Energy shares "We remain constructive on NOVA and residential solar growth in the U.S. longer-term. That said, the macro backdrop for U.S. residential solar remains challenging," Thakkar wrote in a Friday note. "Dealer growth has been a key driver of success in a difficult environment.

Persons: Ameet Thakkar, Thakkar, Sunnova, — CNBC's Michael Bloom Organizations: Sunnova Energy, BMO, NOVA, Treasury Locations: U.S

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