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Search resuls for: "Jesse Pound John Melloy"


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☆ JPMorgan upgrades 3 regional bank stocks to 'buy' in bold move against short sellers
  + stars: | 2023-05-05 | by ( Jesse Pound John Melloy | Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +2 min
JPMorgan made a bold call on Friday, upgrading three regional banks despite a renewed rout in the sector this week that the investment bank says is partly due to short sellers. "To this end, we believe a sell-off in regional banks has become a catalyst itself to cause further fear and selling pressure." The SPDR S & P Regional Banking ETF , down 15% through Thursday this week, was up 4% in premarket trading Friday. The banks that JPMorgan upgraded have been hit even harder than the broader sector. The regional bank stocks have fallen despite the fact that the companies reported lower deposit outflows than First Republic.
☆ First Republic jumps nearly 30%, leads comeback rally in regional banks Tuesday
  + stars: | 2023-03-21 | by ( Jesse Pound John Melloy | Jesse Pound | John Melloy | ) www.cnbc.com   time to read: +2 min
In this article FRCKRE Follow your favorite stocks CREATE FREE ACCOUNTwatch nowPeople make their way near a First Republic Bank branch on March 16, 2023 in New York City. First Republic has been seen as one the remaining regional banks most at risk for the same fate as SVB, due to the large percentage of uninsured deposits it had as of the end of the fourth quarter. JPMorgan Chase led a group of 11 banks last week that deposited a combined $30 billion into First Republic, but its stock has continued to decline. Stock Chart Icon Stock chart icon First Republic, 1-dayReuters reported on Tuesday that major bank leaders were having a pre-scheduled meeting in Washington, with First Republic as a topic of discussion, and that the regional bank was considering downsizing as a way to raise cash. Stock Chart Icon Stock chart icon Regional bank ETF, 1-day
☆ First Republic drops 70%, leads decline in bank stocks despite government's backstop of SVB
  + stars: | 2023-03-13 | by ( Jesse Pound John Melloy | Jesse Pound | John Melloy | ) www.cnbc.com   time to read: +3 min
A First Republic Bank branch in New York, US, on Friday, March 10, 2023. San Francisco's First Republic shares lost 70% in premarket trading Monday after declining 33% last week. First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Bank and offer additional funding to other troubled institutions. The SPDR S&P Regional Banking ETF lost 4% in premarket trading Monday following a 16% decline last week. The slide for regional bank stocks on Monday comes after a rush of withdrawals from SVB Financial forced that bank to close.
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