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☆ Here are Tuesday's biggest analyst calls: Nvidia, Palantir, Amazon, Shopify, Walmart, Microsoft, Palantir, Tesla & more
▼ + stars: | 2024-09-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.

Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe

☆ Small caps are outperforming large caps. How to use charts to find buy candidates in the group
▼ + stars: | 2024-09-10 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Then on July 11, things really got started as June CPI came in below expectations and the outlook for the first Fed rate cut became significantly more likely. Let's drill down into the sectors that makeup the Russell 2000 to see who's leading and lagging since that July 5th turning point. Let's find out who is actually profitable and could maintain the rally after the initial shine of a fresh rate cut wears off. Where to look in small caps A big component of the Russell 2000 based on market capitalization representation is health care at 18.7%. Should the Fed strike a dovish tone after the first rate cut I will be shopping for quality names.

Persons: Russell, Piper Sandler, Hamilton Lane, Jefferies, JEF, Todd Gordon, Gordon, ARES Organizations: Nasdaq, Inside Edge, CNBC PRO, Ares Management, Fed, CNBC, NBC UNIVERSAL Locations: financials

☆ 2 major market themes that could make or break stocks after this week's rally
▼ + stars: | 2024-03-23 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

That answered a big question going into the central bank's two-day March meeting following two months of hotter inflation readings. We hope to see that strength continue in the coming months as increasing supply would help keep housing inflation down. Following the company's last quarterly report, Jim Cramer said, "You cannot have a recession if Cintas is blowing the doors open." ET: PCE price index (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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, JEF, HB Fuller, Jim Cramer's, Jim, Victor J Organizations: Dow, Federal Reserve, Nasdaq, McCormick & Company, GameStop, Jefferies, Gross, Walgreens Boots Alliance, Jim Cramer's Charitable, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty Locations: U.S

☆ Britain to send seven Royal Navy ships to patrol areas with undersea cables
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 30 (Reuters) - Britain said on Thursday it will send seven Royal Navy ships and a maritime patrol aircraft to take part in Joint Expeditionary Force (JEF) patrols of areas with vulnerable undersea infrastructure next month. Europe and NATO have become increasingly concerned about the vulnerability of critical infrastructure around and under the Baltic Sea. JEF, a 10-nation military alliance of northern European countries, is focused on security in the High North, North Atlantic and Baltic Sea region. That followed explosions in September 2022 that ruptured the Nord Stream pipelines under the Baltic Sea and cut Europe's supply of Russian gas. Vessels will be spaced to cover a wide area from the Channel to the Baltic Sea, it added.

Persons: JEF, Grant Shapps, Kylie MacLellan, Bill Berkrot Organizations: Royal Navy, Expeditionary Force, NATO, British, Royal Fleet, Royal Air Force, Channel, Thomson Locations: Britain, Europe, Baltic, North Atlantic, Sweden, Estonia, Finnish, Estonian

☆ Britain to Send Seven Royal Navy Ships to Patrol Areas With Undersea Cables
▼ + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Britain said on Thursday it will send seven Royal Navy ships and a maritime patrol aircraft to take part in Joint Expeditionary Force (JEF) patrols of areas with vulnerable undersea infrastructure next month. Europe and NATO have become increasingly concerned about the vulnerability of critical infrastructure around and under the Baltic Sea. JEF, a 10-nation military alliance of northern European countries, is focused on security in the High North, North Atlantic and Baltic Sea region. That followed explosions in September 2022 that ruptured the Nord Stream pipelines under the Baltic Sea and cut Europe's supply of Russian gas. Vessels will be spaced to cover a wide area from the Channel to the Baltic Sea, it added.

Persons: JEF, Grant Shapps, Kylie MacLellan, Bill Berkrot Organizations: Royal Navy, Expeditionary Force, NATO, British, Royal Fleet, Royal Air Force, Channel Locations: Britain, Europe, Baltic, North Atlantic, Sweden, Estonia, Finnish, Estonian

☆ NATO navies are worried about Russia using its unique weapons to pick a fight on territory nobody controls
▼ + stars: | 2023-11-29 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

Recent damage to undersea pipelines and cables in Europe has raised concern among NATO members. AdvertisementThe emphasis on defending underwater infrastructure is visible in the alliance's operations. The annual Dynamic Messenger exercise includes a focus on protecting critical underwater infrastructure and involves information exchanges between alliance militaries and private-sector actors. OLE BERG-RUSTEN/NTB/AFP via Getty ImagesProtecting underwater infrastructure is no simple task, however. AdvertisementThe situation becomes more complicated because underwater infrastructure often passes through international waters, muddling the legal framework around its protection and making a response harder.

Persons: —, David Cattler, Shawn Coover, Adm, Ben Key, Jens Köhler, JEF, Andrey Luzik, Key, Constantine Atlamazoglou Organizations: NATO, Service, Finnish Border Guard, REUTERS, Steam, US Marine Corps, Staff, British Royal Navy's, Royal Navy, Getty, Joint Expeditionary Force, Norwegian Coast Guard, OLE BERG, Russia Ministry of Defense, Directorate, Fletcher School of Law, LinkedIn, Twitter Locations: Europe, Russia, NATO's, Estonia, Finland, Baltic, Norway, Norwegian, Germany, Ukraine, Hiddensee, Nordic, AFP, Severomorsk

☆ Citi bankers leave for Jefferies as municipal banking department in turmoil -Bloomberg News
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

General view of Jefferies Financial Group offices in Manhattan, New York City, U.S., December 8, 2021. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNov 27 (Reuters) - A team of bankers focused on healthcare at Citigroup (C.N) has left for rival Jefferies Financial (JEF.N) after the firm's executives mulled closing the municipal banking department altogether, Bloomberg News reported on Monday. The group of about 10 bankers departing for Jefferies included managing directors Brian Carlstead, Ben Klemz and Katherine Meyers, the report said, citing people familiar with the matter. CEO Jane Fraser has been weighing whether to shutter the bank's municipal-bond trading and origination business. Citi's municipal offering business has been under scrutiny from Texas attorney general, who in January halted the bank's ability to underwrite most municipal bond offerings in Texas, saying Citi has discriminated against the firearms sector.

Persons: Eduardo Munoz, Brian Carlstead, Ben Klemz, Katherine Meyers, Jane Fraser, Pritam Biswas Organizations: Jefferies Financial, REUTERS, Citigroup, Jefferies, Bloomberg, Citi, Thomson Locations: Manhattan , New York City, U.S, Texas, Bengaluru

☆ Japan's Sumitomo Mitsui Financial Group CEO dies at 65
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group Inc (SMFG)'s new chief executive Jun Ohta attends a news conference in Tokyo, Japan, December 14, 2018. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 27 (Reuters) - Sumitomo Mitsui Financial Group (SMFG) (8316.T) on Monday said group CEO Jun Ohta died on Nov. 25 aged 65 of pancreatic cancer. Japan's second-biggest lender after Mitsubishi UFJ Financial Group (8306.T) said it plans to announce a successor in the near future as soon as an appointment is made. Ohta joined The Sumitomo Bank, a predecessor of SMFG, in 1982 and rose to group CEO in April 2019. Ohta recently sought to expand SMFG's footprint in overseas markets through an alliance with U.S. investment bank Jefferies Financial Group (JEF.N).

Persons: Jun Ohta, Kim Kyung, Japan's, Toru Nakashima, Ohta, Mariko Katsumura, Rocky Swift, Kim Coghill, Christopher Cushing Organizations: Sumitomo Mitsui Financial Group Inc, REUTERS, Rights, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial, Sumitomo Bank, Keidanren, Jefferies Financial, Thomson Locations: Tokyo, Japan, SMFG

People walk outside of Jefferies Financial Group offices in Manhattan, New York, U.S., December 8, 2021. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNEW YORK, Oct 24 (Reuters) - Investment bank and capital markets firm Jefferies (JEF.N) has hired industrial banker Francis Tucci from Citigroup (C.N) for a senior role, according to sources familiar with the move. Tucci will join Jefferies as chairman, industrials, and will report to Peter Bowden, global head of industrial, energy and infrastructure investment banking. Tucci, who will be based in New York, will start early next year, the sources said. Also in September, Wells Fargo (WFC.N) hired former Citi executive Clayton Hale as co-head of equity capital markets.

Persons: Eduardo Munoz, Francis Tucci, Tucci, Jefferies, Peter Bowden, Jane Fraser, Wells, Clayton Hale, Svea Herbst, Bayliss, David Carnevali, Matthew Lewis Organizations: Jefferies Financial, REUTERS, Investment, Jefferies, Citigroup, Citi, Svea, Thomson Locations: Manhattan , New York, U.S, New York, Wells Fargo

☆ Barclays appoints Geoffrey Belsher as new Canada CEO
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - Barclays (BARC.L) on Friday named investment banking veteran Geoffrey Belsher as chairman and country chief executive officer for Canada, effective Oct. 16. Belsher has previously held senior role in Canadian Imperial Bank of Commerce (CM.TO). He was also the president of Canadian operations of Barclays Capital and its predecessor Lehman Brothers Canada, according to the company's statement. Belsher would be based in Toronto and report to CEO of Americas Richard Haworth and the global co-heads of investment banking Cathal Deasy and Taylor Wright.

Persons: Dado Ruvic, Geoffrey Belsher, Belsher, Richard Haworth, Cathal Deasy, Taylor Wright, Bruce Rothney, Pritam Biswas, Shilpi Majumdar Organizations: Barclays Bank, REUTERS, Barclays, Canadian Imperial Bank of Commerce, Barclays Capital, Lehman Brothers Canada, Citigroup, Jefferies Financial, Reuters, Thomson Locations: Canada, Toronto, U.S, Bengaluru

☆ Ukraine Invited to Observe North Europe Defence Alliance Exercises
▼ + stars: | 2023-10-13 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

STOCKHOLM (Reuters) - A British-led defence alliance of several European countries has invited Ukraine to observe its exercises, Swedish Prime Minister Ulf Kristersson told a press conference on Friday. Kristersson said JEF member states' defence ministers will meet to discuss how to protect critical infrastructure, particularly under water. The group said in June it would increase cooperation to detect possible threats to critical undersea and offshore infrastructure. Explosions last year to the Nord Stream gas pipelines under the Baltic sea between Russia and Germany remain unexplained. (Reporting by Simon Johnson and Anna Ringstrom, editing by Terje Solsvik and Deborah Kyvrikosaios)

Persons: Ulf Kristersson, JEF, Kristersson, Volodymyr Zelenskiy, Simon Johnson, Anna Ringstrom, Terje Solsvik, Deborah Kyvrikosaios Organizations: Joint Expeditionary Force, Atlantic Locations: STOCKHOLM, British, Ukraine, Swedish, Britain, Baltic, Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Netherlands, Norway, Sweden, Gotland, Russia, Germany

☆ Investors will be rewarded over the long term for buying these cheap bank stocks, Oppenheimer says
▼ + stars: | 2023-09-26 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Although bank stock investors are wading through a period of uncertainty and jittery sentiment, Oppenheimer has a positive outlook on certain stocks. Oppenheimer named several megabanks as winners of the recovering industry, recommending Citigroup , Goldman Sachs , Bank of America , Jefferies Financial , JPMorgan Chase , Morgan Stanley and U.S. Bancorp . These stocks are trading at a 47% relative P/E multiple on a forward basis and are "significantly undervalued," according to the firm. Jefferies and JPMorgan are the two gainers, trading higher by 12.7% and 8.5% this year, respectively. Oppenheimer on Tuesday trimmed its price target on Bank of America by $1 to $48 and maintained its outperform rating.

Persons: Oppenheimer, Chris Kotowski, Kotowski, Goldman Sachs, JPMorgan Chase, Morgan Stanley, JEF YTD, Goldman Organizations: Citigroup, Bank of America, Jefferies Financial, JPMorgan, U.S . Bancorp, Jefferies, of America

☆ US junk debt deals carry higher guardrails for investors
▼ + stars: | 2023-09-15 | by ( Matt Tracy | ) www.reuters.com time to read: +4 min

Twelve high-yield issuers have raised $9.6 billion this week, making it the busiest week since November 2021, according to JPMorgan. This stands in stark contrast to the same period in 2022, when only 25% of a total $81 billion was secured debt, according to Informa Global Markets data. According to rating agency Fitch, junk debt defaults are expected to reach 4.5% of all outstanding U.S. junk debt by the end of 2023, up from 2.8% in July. The extra level of protection and high investment returns are ensuring strong demand for new junk debt. The loans are part of a $9.4 billion debt package - the largest since last year's buyout of Twitter by billionaire Elon Musk.

Persons: Brendan McDermid, Fitch, Anthony Canale, it's, Brian Gelfand, TCW, Goldman Sachs, Elon Musk, Jefferies, Simon, Matt Tracy, Shankar Ramakrishnan, Hugh Lawson Organizations: New York Stock Exchange, REUTERS, JPMorgan, Informa, Reuters, Covenant, ICE, Morningstar, GTCR, KKR, Jefferies, Thomson Locations: New York City, U.S

NEW YORK, Sept 14 (Reuters) - Barclays (BARC.L) said on Thursday it has hired two senior bankers for its financial sponsors group to oversee relationships with private equity clients. The British lender appointed Tom Vignon as a managing director in the financial sponsors group for the Europe, the Middle East and Africa (EMEA) region, it said in a statement. Christian Oberle also joined Barclays as the head of its financial sponsors group in the Americas, the bank said. Oberle previously worked as a senior managing director at JPMorgan Chase (JPM.N), where he served clients including Apollo Global Management and Advent International. In recent months, the bank has appointed new leaders from within its ranks, including global co-heads of capital markets, debt capital markets and equity markets and a sole head of equity capital markets.

Persons: Tom Vignon, Vignon, Christian Oberle, Oberle, Jean, Francois Astier, Taylor Wright, Cathal Deasy, Lananh Nguyen, Rashmi Organizations: Barclays, Credit Suisse, Christian, Reuters, JPMorgan Chase, Apollo Global Management, Advent, UBS, Jefferies, Thomson Locations: Europe, East, Africa, Americas, New York

☆ Here are Goldman's favorite stock picks — and it just included a new name
▼ + stars: | 2023-09-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The investment bank has long-term growth tailwinds and is a pure play on a capital market recovery, according to Goldman. A recovery in equity capital markets already underway should help the stock given Jefferies' strength in trading. "We think these structural and cyclical drivers, plus a potential positive upside catalyst from monetization of the last two remaining stakes, and a strong dividend, should drive upside to JEF's shares," Kron said. Macy's came off the list after Goldman analyst Brooke Roach lowered her price target 26% following the retailer's fiscal second-quarter earnings. M YTD mountain Macy's stock in 2023 Macy's joins Spirit AeroSystems and Tanger Factory Outlet Centers , both of which were removed in August from what Goldman calls the "Director's Cut" conviction list.

Persons: Jefferies, Goldman Sachs, Goldman, Steven Kron, Kron, Macy's, Brooke Roach, — CNBC's Michael Bloom Organizations: Sumitomo, Outlet Centers Locations: U.S

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Zoom, Amazon, Bowlero, Lululemon & more
▼ + stars: | 2023-08-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Lululemon as buy Bank of America said it's standing by its buy rating on the stock heading into earnings next week. Bank of America adds Jazz Pharmaceuticals to the US1 list Bank of America added the pharmaceutical company to its top picks list. "We initiate coverage of The Madison Square Garden Entertainment Co. (MSGE) with a Buy rating and a 12-month price objective (PO) of $41, implying ~30% potential upside." Bank of America initiates Gulfport Energy as buy Bank of America said the energy company is undervalued. Stifel reiterates Bowlero as buy Stifel said it's standing by its buy rating on the bowling company.

Persons: Morgan Stanley, Lululemon, LULU, Bernstein, Emerson, Raymond James, Apple, it's, Stifel, Jefferies, Goldman Sachs, JEF Organizations: Bank of America, Jazz Pharmaceuticals, Inc, UBS, GXO Logistics, Mobility, RBC, JPMorgan, Emerson, Mizuho, Edison, FOUR, Apple, Nvidia, AppLovin, Garden Entertainment, The, Garden Entertainment Co, Energy, Xcel Energy, Minnesota & Locations: China, The Madison, Minnesota, Minnesota & Colorado

REUTERS/Navesh Chitrakar/File PhotoNEW YORK, Aug 9 (Reuters) - Body Art Alliance is exploring options including a sale that could value the supplier of tattoo and body art products at nearly $1 billion, including debt, according to people familiar with the matter. Representatives for Body Art Alliance and Jefferies declined to comment. Body Art Alliance's move to explore a sale comes amid a global surge in the popularity of body art, especially among the younger generation. The company was launched in 2020 by the founders of four body art companies - FK Irons, Painful Pleasures, NeoMetal and World Famous Ink. It is now affiliated with dozens of global brands that sell tattoo and body art products, which include body ink and piercing equipment, to artists and customers.

Persons: Ravan, Navesh, Jefferies, Abigail Summerville, Leslie Adler Organizations: REUTERS, Alliance, Jefferies, Group Inc, Body Art Alliance, FK Irons, Thomson Locations: Kathmandu, Nepal, Hanover , Maryland, U.S, New York

☆ E-cigarette maker Juul Labs seeks $1 bln in funding - Bloomberg News
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage//File PhotoAug 2 (Reuters) - E-cigarette maker Juul Labs is seeking to raise about $1 billion in a fundraising effort, Bloomberg News reported on Wednesday, citing people familiar with the matter. Juul is working with Jefferies Financial Group Inc (JEF.N) for the fundraising, the report said, adding that the e-cigarette manufacturer had about $800 million in revenue in 2022. Juul and Jefferies did not immediately respond to Reuters' request for comment. Reporting by Gursimran Kaur in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Juul, Jefferies, Gursimran Kaur, Sonia Cheema Organizations: REUTERS, Juul, Bloomberg, Jefferies, Group Inc, Reuters, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Altria, Bengaluru

NEW YORK, July 27 (Reuters) - Bill Hwang, the founder of Archegos Capital Management, on Thursday asked a judge to let him subpoena documents from 10 banks, in an effort to shift blame as he defends against criminal fraud charges that the firm's collapse was his fault. The office of U.S. Attorney Damian Williams, which is prosecuting Hwang, did not immediately respond to a request for comment. Other banks also lost money when Archegos collapsed, but less than Credit Suisse. That caused it to miss margin calls, and banks to dump stocks that had backed the swaps and which they had bought as hedges. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

Persons: Bill Hwang, Hwang, Damian Williams, Archegos, Goldman Sachs, Jefferies, Mitsubishi UFJ, Morgan Stanley, Nomura, Alvin Hellerstein, Hwang et, Jonathan Stempel, Daniel Wallis Organizations: YORK, Archegos Capital Management, UBS, Credit Suisse, Prosecutors, Bank of Montreal, Deutsche Bank, Mitsubishi, Court, Southern District of, Thomson Locations: Manhattan, Macquarie, Mizuho, U.S, Southern District, Southern District of New York, New York

☆ Morgan Stanley and MUFG’s next act is well-timed
▼ + stars: | 2023-07-19 | by ( Una Galani | ) www.reuters.com time to read: +3 min

Morgan Stanley (MS.N) and the $94 billion Mitsubishi UFJ Financial (8306.T) are tapping deeper into a good thing at the right time. As well as collaborating on foreign exchange trading, Morgan Stanley and MUFG will now integrate the institutional Japan equities business by consolidating research and institutional sales into Morgan Stanley’s joint venture entity. It’s a bright backdrop for Morgan Stanley and MUFG’s partnership. Follow @ugalani on TwitterCONTEXT NEWSMorgan Stanley and Mitsubishi UFJ Financial on July 18 announced plans to deepen their 15-year alliance, including in foreign exchange trading and in Japanese research and equities businesses for institutional clients. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Morgan Stanley, MUFG, James Gorman, Ohta, Morgan, isn’t, Morgan Stanley’s, Antony Currie, Thomas Shum Organizations: Reuters, Wall, Mitsubishi UFJ, MUFG, Sumitomo Mitsui Financial, Jefferies, Tokyo Stock Exchange, Mitsubishi UFJ Financial, Thomson Locations: MUMBAI, U.S, Japan

July 10 (Reuters) - Morgan Stanley (MS.N) has hired senior investment banker Marco Caggiano from JPMorgan Chase & Co (JPM.N), where he led the bank's North America mergers and acquisitions (M&A) business, people familiar with the matter said on Monday. Caggiano, a veteran investment banker who spent 23 years with JPMorgan, will join Morgan Stanley as vice chairman of M&A, the sources said. JPMorgan and Morgan Stanley declined to comment. Caggiano trained as a lawyer and worked at Paul Hastings before he joined JPMorgan. He was co-head of North America M&A before Chris Roop, his other co-head, exited JPMorgan last year to join Jefferies Financial Group Inc (JEF.N).

Persons: Morgan Stanley, Marco Caggiano, Caggiano, Elon Musk, Paul Hastings, Chris Roop, Svea Herbst, Bayliss, Anirban Sen, Greg Roumeliotis Organizations: JPMorgan Chase &, JPMorgan, Twitter Inc, Elon, Zynga, Hasbro Inc, Alta Fox, Jefferies Financial Group Inc, Svea, Thomson Locations: America, Rhode Island, New York

☆ Jefferies quarterly profit falls as dealmaking in doldrums
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: 1 min

June 27 (Reuters) - Jefferies Financial Group Inc's (JEF.N) second-quarter profit slumped 89% as subdued dealmaking and a lull in new initial public offerings weighed on its advisory and underwriting fees, the investment bank said on Tuesday. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaiveer Singh, Sriraj Organizations: Jefferies, Thomson Locations: Bengaluru

☆ Investors look to next week's key inflation data after rally in stocks stumbles
▼ + stars: | 2023-06-23 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The Dow Jones Industrial Average , the S & P 500 and the Nasdaq lost more than 1% each for this holiday-shortened week. This coming week will feature some key inflation data to keep an eye on. On Tuesday, the May housing starts report was released, coming in much stronger than expected, at a 1.63 million seasonally adjusted annual rate (SAAR), versus 1.39 million SAAR expected. Building permits were also above expectations at a1.49 million SAAR versus 1.43 million SAAR expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jerome Powell, Jim Cramer, he's, Jefferies, JEF, Mills, HB Fuller, Jim Cramer's, Jim, Spencer Platt Organizations: Federal, Dow Jones, Nasdaq, Constellation Brands, Corp, Walgreens Boots Alliance, Micron Technology, Gross, Aid, McCormick &, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, SAAR

But the plunge in the deal pipeline prompted soul-searching and job-hopping among investment bankers accustomed to a feast. Barclays, which has struggled to retain bankers following a shake-up in the management of its investment banking division, has lost at least nine top technology bankers in recent weeks. Traditionally, smaller firms have been reluctant to offer investment bankers guaranteed compensation, in order to have more of their pay tied to performance. Alan Johnson, managing director of compensation consultancy Johnson Associates, said that first-year guarantees were common practice in the hiring of investment bankers, but second-year guarantee used to be rare. "You get paid a higher percentage of revenue than in a big bank, but you have to generate the revenue with perhaps less help," Johnson said.

Persons: Goldman Sachs, Sam Britton, Britton, Anthony Keizner, Goldman, Nick Pomponi, Rob Chisholm, Troy Broderick, Goldman's, Perella Weinberg, Laurence Braham, Richard Hardegree, Steve Markovich, Ron Eliasek, Jason Auerbach, Alan Johnson, Johnson, Milana Vinn, Anirban Sen, Greg Roumeliotis, Jamie Freed Organizations: YORK, Goldman, Bank of America, Barclays, Qatalyst Partners, Jefferies Financial, Technology, LSEG, Intelligence, Search, Evercore, UBS, Centerview, Jefferies, SVB Securities, Bank, Reuters, Johnson Associates, Thomson Locations: Qatalyst, New York

Venkatakrishnan's intervention underscores the pressure that the British bank is under to protect its U.S. investment banking franchise. Venkatakrishnan promised during the meeting to invest in the investment banking business to boost morale, the sources said. Miller left Barclays to join Jefferies last month, while Barclays only announced a new role for Astier this week, naming him global head of financial sponsors. Still, the exodus that Venkatakrishnan and other Barclays executives have been trying to stem has continued apace. But it was its consumer, cards and payments division, rather than investment banking, that led the charge.

Persons: C.S, Venkatakrishnan, dealmakers, Cathal Deasy, Morgan Stanley, Taylor Wright, Marco Valla, Deasy, John Miller, Jean, Francois Astier, Miller, Jefferies, Jim Rossman, Christopher Ludwig, Pete Contrucci, Evan Rothenberg, Daniel Kerstein, Contrucci, Rothenberg, Kerstein, Milana Vinn, Abigail Summerville, David Carnevali, Svea Herbst, Bayliss, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: YORK, Barclays, Citigroup Inc, UBS Group AG, Jefferies Financial Group Inc, Reuters, Credit Suisse Group AG, UBS, Lazard Ltd, Credit Suisse, Svea, Thomson Locations: Americas, Europe, Middle East, Africa, United States, New York, Rhode Island

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