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☆ Top Wall Street analysts pick these 3 stocks for attractive returns
▼ + stars: | 2024-03-31 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts are ignoring the short-term noise and remain focused on companies that have strong fundamentals and can generate attractive returns in the long run. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Micron TechnologyThis week's first stock pick is memory chipmaker Micron Technology (MU), which impressed investors with its strong quarterly performance. Bolton noted that Micron's HBM3E memory solution generated revenue in the fiscal second quarter and has already sold out for calendar year 2024. He highlighted management's commentary about generating several hundred million dollars of revenue from HBM3E in fiscal 2024 and driving fiscal 2025 revenue to record highs.

Persons: Needham, Quinn Bolton, Bolton, TipRanks, LULU, Robert Drbul, Drbul, Christopher Rolland, Rolland Organizations: Wall Street, Micron, Micron Technology, MU, Bolton, Broadcom, Susquehanna, Symantec, VMware Locations: Santa Monica, United States, U.S

☆ Here's the cast of Amazon's 'Fallout' and the shows and movies where you've probably seen the actors before
▼ + stars: | 2024-03-29 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +1 min

Amazon's "Fallout" is based on Bethesda Softworks' post-apocalyptic video game series. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe "Fallout" video games have gripped players since the late '90s and the franchise is finally getting the live-action treatment from Amazon. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Bethesda Softworks, Service, Interplay, Business Locations: Bethesda

Average 30-year mortgage rates have dropped nearly 30 basis points from a week ago, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Fall (-0.27%)The current average 30-year fixed mortgage rate is 6.32%, down 27 points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Decrease (-0.33%)The average 15-year mortgage rate is 5.64%, down from last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase (+0.69%)The average 30-year refinance rate is 7.69%, 69 basis points higher than last week.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

☆ Tesla's stock wraps up one of its worst quarters on record as global dominance wanes
▼ + stars: | 2024-03-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +11 min

Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.

Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware

☆ Foreign companies have lost over $100 billion in the process of leaving Russia since it started the war in Ukraine
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.

Persons: —, Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow

☆ A controversial ‘Titanic’ prop sells for more than $700,000 at movie memorabilia auction
▼ + stars: | 2024-03-27 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +4 min

And it’s now been sold at auction for more than $700,000. “Often mistakenly referred to as a door, the ornate structure was in reality part of the door frame just above the first-class lounge entrance,” Heritage Auctions wrote in the auction notes. Heritage Auctions described the prop as “king of the auction,” in a wry nod to the movie's script. There was no additional testing of these theories on the prop itself prior to its sale, as the auction house chooses to “handle all items with great care when in transit and in storage,” Heritage Auctions told CNN. “What you’re seeing is this massive interest in the films of the 1980s and 1990s,” said Joe Maddalena, executive vice president of Heritage Auctions, in a statement.

Persons: CNN —, Kate Winslet’s, Rose DeWitt Bukater, Leonardo DiCaprio’s Jack Dawson, Rose, Jack, I’ll, Indiana Jones, Doom, flotsam, ”, James Cameron, Jamie Hyneman, Adam Savage, Cameron, Winslet, DiCaprio, Joe Maddalena Organizations: CNN, Hollywood, Heritage Auctions, Heritage Locations: Orlando , Florida

☆ Novo Nordisk's $1,000 diabetes drug Ozempic can be made for less than $5 a month, study suggests
▼ + stars: | 2024-03-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The blockbuster diabetes drug Ozempic could be manufactured for less than $5 a month, even as Novo Nordisk charges close to $1,000 per month for the injection in the U.S. before insurance, a study released Wednesday suggests. The study also comes after years of political pressure on Novo Nordisk and other drugmakers to slash high costs of diabetes care, especially insulin. Ozempic can generally be produced for less than various forms of insulin, according to the study published in JAMA Network Open. Novo Nordisk's list price for a monthly package of Ozempic is $935.77 before insurance and other rebates. In a statement on Wednesday, Novo Nordisk declined to provide production costs for Ozempic and its weight loss drug counterpart Wegovy.

Organizations: Nordisk, Yale University, King's College Hospital, Novo Nordisk, JAMA, Ozempic, University of Liverpool Locations: U.S, London

☆ Oil prices fall on large U.S. crude stockpile increase
▼ + stars: | 2024-03-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

An oil pumpjack in a field in Grandfalls, Texas, on March 24, 2024. Crude oil futures fell for a second day Wednesday after an industry report pointed to large build in U.S. petroleum stockpiles. The West Texas Intermediate contract for May delivery dipped 41 cents, or 0.5%, to $81.21 a barrel Wednesday. The Brent contract for May delivery shed 49 cents, or 0.57%, to $85.76 a barrel.

Persons: Brent Organizations: West Texas Intermediate Locations: Grandfalls , Texas

☆ Karl Lagerfeld’s Paris apartment sells for $10.8 million
▼ + stars: | 2024-03-27 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —A Paris apartment owned by the late fashion designer Karl Lagerfeld has sold for €10 million ($10.8 million). The apartment is across the Seine from the Louvre. Alain Jocard/AFP/Getty ImagesLocated on Quai Voltaire in the city’s 7th arrondissement, the three-room, 260-square-meter (2,800-square-foot), third-floor apartment sold for nearly double its list price of €5.3 million ($5.7 million). Although it is housed in a building dating from the 17th century, the apartment stands out for its ultra-modern design. Alain Jocard/AFP/Getty ImagesLagerfeld’s tastes changed from property to property, according to fashion writer Patrick Mauriès, who wrote the introduction to the book.

Persons: Karl Lagerfeld, Alain Jocard, Quai Voltaire, Chanel, Lagerfeld, Patrick Mauriès, ”, “ Organizations: CNN, Groupe Althémis, Getty Locations: Paris, Seine, AFP, Quai, Europe, Monte Carlo, Rome, Hamburg

☆ How a New Rule Could Change the Way Advisers Handle Your Retirement Money
▼ + stars: | 2024-03-26 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

It seems like an issue everyone can agree on: Financial professionals should be required to handle our retirement money with the utmost care, putting investors’ interests first. The issue has re-emerged as the department prepares to release a final rule that would require more financial professionals to act as fiduciaries — that is, they’d be held to the highest standard, across the investment landscape, when providing advice on retirement money held or destined for tax-advantaged accounts, like individual retirement accounts. Most retirement plan administrators who oversee the trillions of dollars held in 401(k) plans are already held to this standard, part of a 1974 law known as ERISA, which was established to oversee private pension plans before 401(k)s existed. But it doesn’t generally apply, for example, when workers roll over their pile of money into an I.R.A. Nearly 5.7 million people rolled $620 billion into I.R.A.s in 2020, according to the latest Internal Revenue Service data.

Persons: they’d Organizations: U.S . Labor Department, Internal Revenue Service

☆ Medicare spending on Ozempic and similar diabetes drugs soars, study finds, and it could end up costing seniors
▼ + stars: | 2024-03-26 | by ( Tami Luhby | ) edition.cnn.com time to read: +2 min

CNN —Medicare shelled out $5.7 billion on Ozempic and other similar diabetes drugs in 2022, up from $57 million in 2018, according to a new KFF analysis. Medicare began covering Ozempic for people with diabetes in 2018, with Rybelsus and Mounjaro joining in 2019 and 2022, respectively. The KFF study examined gross spending, which does not take into account any rebates paid by drug manufacturers that would lower Medicare spending. The drugs’ popularity and prices could end up raising costs for both the federal government and Medicare enrollees broadly. Medicare could choose Ozempic and Rybelsus for its drug negotiation program as early as 2025, KFF wrote, which could lower spending on the medications.

Persons: Mounjaro, ” KFF, KFF Organizations: CNN, Medicare, US Food and Drug Administration, Congressional

☆ ‘Titanic’ Door Prop That Saved Rose (Sorry, Jack) Sells for $718,750
▼ + stars: | 2024-03-26 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

At the end of the movie “Titanic,” Rose floats atop an ornately decorated piece of a door frame as her beloved Jack clings to its edge, holding her hand. In reality, the ocean was a tank that held 17 million gallons of water. And the door frame? The wood panel sold at auction for $718,750 on Saturday, part of a trove of memorabilia from Planet Hollywood. Heritage Auctions said in a statement that the event “shattered expectations” and set a record for the company’s auctions of movie props and costumes, drawing more than 5,500 bidders from around the world.

Persons: Rose, Jack, “, Indiana Jones, ” Organizations: Planet Hollywood, Heritage, Heritage Auctions

☆ Britain's DS Smith gets $7 billion buyout offer from International Paper
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +1 min

DS Smith confirmed on Tuesday it was in discussions with International Paper over an all-stock offer from the U.S.-listed company, which valued the British paper and packaging firm at 5.72 billion pounds ($7.22 billion). Under the terms of the proposal, DS Smith shareholders would receive 0.1285 shares in International Paper for each share they own in DS Smith. If the proposed deal goes through, DS Smith shareholders will own about 33.8% of the combined company. Accordingly, the Board is progressing its discussions with International Paper regarding the Proposal," DS Smith said. Deal talks between DS Smith and International Paper were first reported by Sky News on Tuesday.

Persons: DS Smith, Smith, Mondi Organizations: Weyerhaeuser Company, DS, Deal, Sky News Locations: Gdansk, Poland, U.S

☆ BYD’s profit soared 80% in the year the Chinese EV giant overtook Tesla
▼ + stars: | 2024-03-26 | by ( Laura He | Anna Cooban | ) edition.cnn.com time to read: +2 min

Net profit almost doubled to 30 billion yuan ($4.2 billion) last year, from 16.6 billion yuan ($2.3 billion) in 2022, the Shenzhen-based company said Tuesday. BYD sold 525,409 battery electric vehicles (BEVs) during that period, compared with Tesla’s 484,507. In 2023 as a whole, BYD sold a record 3.02 million vehicles globally, up 62% from 2022. Its entry-level model sells in China for the equivalent of just over $10,000; the cheapest Tesla car, a Model 3, costs almost $39,000. But intensifying competition and a brutal price war last year have impacted the profit margins of many Chinese car makers, including BYD.

Persons: London CNN — BYD, That’s, Warren Buffett, BYD, Tesla, Elon Musk’s carmaker Organizations: London CNN, Elon, Tesla, Chinese Passenger Car Association, Geely, Chery, XPeng Motors Locations: Hong Kong, London, Shenzhen, China

☆ Hybrid cars now have 'very few compromises' says Ford executive — and sales are booming
▼ + stars: | 2024-03-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Sales growth for hybrid cars is outpacing growth for electric vehicles this year. AdvertisementIt's shaping up to be a comeback year for hybrid cars — and that's partly because they're now nearly as good as their conventional vehicles, according to a Ford executive. Frick's comments come as demand for hybrid vehicles soars, partly due to drivers' worries about charging electric cars. AdvertisementFreedom of choiceThe hybrid Maverick starts at about $25,300 — some $1,500 more than the gas version. About 60% of those buying a hybrid Maverick are first-time Ford customers, product development operations chief Jim Baumbick previously told Business Insider.

Persons: Ford, Ford's Andrew Frick, —, they're, Andrew Frick, Morgan Stanley, Jim Baumbick Organizations: Service, Ford, Wall, Buyers, Cox Automotive, Toyota Prius, BI Toyota, EV, Toyota, White House Locations: Detroit, Edmunds

☆ It's been four years since the market's Covid low with the S&P 500 returning 25% annualized since
▼ + stars: | 2024-03-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The four-year total return for the S & P 500 since March 23, 2020, is just about 150%, or 25.7% annualized. .SPX mountain 2020-03-23 S & P 500 since the Covid low This is, of course, an idealized starting point from which to measure performance. While the S & P 500 bottomed at around a three-year low under 2,200, the index spent only a few weeks under 2,500. More qualitatively, it's a bull market, and in a bull market the overshoots occur to the upside, so a rally being "ahead of itself" is not fatal. And the S & P 500 is only 9% higher than it was more than two years ago, hardly reaching escape velocity from planet Sanity.

Persons: –, Warren, Ned Davis, Tim Hayes, bullishness, Rocky White Organizations: HSBC, 3Fourteen, Bank of Japan, Fed, Ned Davis Research, Schaeffer's Investment Research, Intelligence, Bank of America

Though they spiked up earlier this week, mortgage rates have inched down over the past few days and are in line with last week's levels. Once the Fed cuts rates, mortgage rates should start to trend down, too. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Back Below 6% (-0.10%)The average 15-year mortgage rate is 5.93%, down from last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: they're, you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

☆ February home sales spike 9.5%, the largest monthly gain in a year, as supply improves
▼ + stars: | 2024-03-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Sales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. Sales were down 3.3% year over year, but it was the largest monthly gain since February 2023. Sales surged the most in the West, up 19.4%, and the South, up 16.4%. "Additional housing supply is helping to satisfy market demand," said Lawrence Yun, NAR's chief economist. Inventory rose 10.3% year over year to 1.07 million homes for sale at the end of February.

Persons: Lawrence Yun, Yun Organizations: National Association of Realtors . Housing, Mortgage News Daily Locations: West, California, Florida, Georgia

☆ Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands
▼ + stars: | 2024-03-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023. Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. Kering plunged to the bottom of the Stoxx 600 after a delayed open, dragging other European luxury lines with it. Gucci comparable revenues in the first quarter are expected to be down by nearly 20% year on year." The slowdown is expected to derive primarily from Asia — and chiefly from China, whose economy has been struggling.

Persons: Gucci, Kering, Christian Dior, Hermes, Burberry Organizations: Wharf Holdings Ltd, Gucci, Asia — Locations: Harbour City, Hong Kong, China, Asia, London, Pacific

☆ China economy: All-important property market shows no sign of rebound in new year
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

New property sales reached a total of 1.06 trillion yuan ($147 billion) in the first two months of this year, according to data released by the National Bureau of Statistics (NBS) on Monday. The drop also marks a much faster pace of decline from the year-ago period, when new property sales dipped just 0.1%. Property investment fell 9% in the January-to-February period, which was faster than the 5.7% decrease registered during the same period last year. “The correction in property construction is still in its early stages,” Capital Economics analysts said in a research note on Monday. The growth in factory output might be driven by strong exports demand.

Persons: Hong Kong CNN —, “, ”, Louise Loo, ” Loo, Zhiwei Zhang Organizations: Hong Kong CNN, National Bureau of Statistics, Capital, Catering, “, Oxford Economics Locations: China, Hong Kong

As inflation slows and the economy balances out, mortgage rates are expected to go down this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Go Up (+0.23%)The current average 30-year fixed mortgage rate is 6.53%, up 23 points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Back Above 6% (+0.23%)The average 15-year mortgage rate is 6.03%, up from last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: you'll, It's, refinance Organizations: Zillow, FHA Locations: Chevron

☆ Trump heads to Ohio ahead of competitive Senate primary with huge stakes for November
▼ + stars: | 2024-03-16 | by ( Simone Pathe | ) edition.cnn.com time to read: +12 min

Then came the endorsement from DeWine, who had previously suggested he wouldn’t get involved in the Senate primary. “Everyone loves Mike DeWine, but that’s not where the party is right now,” said Ohio Republican consultant Bob Kish, who’s not working for any of the candidates. The fight to defeat BrownWhoever emerges from Tuesday’s primary, Brown is in for a tough race in a state that Trump twice carried by 8 points. But like Montana Sen. Jon Tester, the other Democrat running in a Trump state this year, he’s done it before. “The Senate race will be the main event in Ohio,” said a national Democrat working on Senate races.

Persons: Donald Trump, Bernie Moreno, who’s, Democratic Sen, Sherrod Brown –, Trump, Moreno, Sen, Matt Dolan, Frank LaRose, Brown, Barack Obama, Republicans –, Dolan, Ohio Republicans –, Rob Portman, Mike DeWine, Kareem Elgazzar, hasn’t, ”, Bob Clegg, ” Trump, “, J.D, Vance, Clegg, DeWine, wouldn’t, Paul Vernon, “ Matt, Chris Maloney, –, ” Maloney, he’s, Bob Kish, There’s, CNN’s KFile, ” Kish, Bernie, Montana Sen, Jon Tester, they’ve, West Virginia Sen, Joe Manchin, Gaelen Morse, Ben Kindel, Besides Brown, didn’t, Bob Taft’s, Sherrod, ” Sen, Sherrod Brown, Julia Nikhinson, Hillary Clinton, won’t, ” CNN’s David Wright Organizations: CNN, Republican, GOP, Democratic, Senate, Trump, Republicans, Ohio Republicans, Ohio GOP, Warren County GOP adjourns, Green Beret, Club, Cleveland Indians, Cleveland Guardians, Central State University, AP, Buckeye State, Republican Party –, “, West, PAC, Fund, Reuters, Democrat, Capitol Locations: Ohio, Warren County, Lebanon , Ohio, Mexico, Colombian, Wilberforce , Ohio, Montana, Trump, Columbus, Ohio’s suburbs, “

That same day, Mr. Trump’s campaign announced that the former president would appear alongside Mr. Moreno on Saturday in Dayton, widely interpreted as a sign that Mr. Moreno could benefit from an 11th-hour boost. Simultaneously, Mr. Moreno and his backers have portrayed Mr. Dolan as not sufficiently supportive of Mr. Trump. After Mr. Trump overwhelmingly won the former battleground state in 2016 and 2020, Ohioans sent J.D. Image Mr. Moreno has been endorsed by, and campaigned with, several Republicans with ties to Mr. Trump, including Gov. Mr. LaRose and Mr. Moreno have banded together to attack Mr. Dolan as disloyal to Mr. Trump, while both Mr. Dolan and Mr. LaRose have accused Mr. Moreno of shifting his views on everything from gun control to Mr. Trump himself.

Persons: Donald J, Trump’s, Bernie Moreno, Sherrod Brown, Moreno, Matt Dolan, Frank LaRose, Dolan, Mike DeWine, Rob Portman, LaRose, Mr, Trump, Donald Trump, ”, Ryan Stubenrauch, DeWine, Portman, Brown, Ohioans, J.D, Vance, Biden, Moreno’s, “, Mitch McConnell, McConnell, Donald Trump Jr, ” Mr, ” Reagan McCarthy, won’t, Jim Renacci, “ Trump, Katie Smith, they’ll, Kristi Noem, Vivek Ramaswamy, Vance of Ohio, —, Noem, Donald Trump isn’t, Mitzi Baird, ” Ms, Baird, Michael C, Bender Organizations: Republican, Republicans, Democrat, Senate, Mr, Democratic, Cleveland Guardians, Trump, Republican Party —, National Republican Senatorial Committee, Ohio Democratic Party, U.S . Army, Washington , D.C, ”, Lincoln Locations: Ohio, Dayton, Arizona, Cleveland, Washington, G.O.P, battlegrounds, Pennsylvania, Georgia, South Dakota, Cincinnati, Washington ,, Columbus, Elyria, Vermilion

☆ Oil prices underpinned by U.S. inventory data, attacks on Russian refineries
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

This picture taken on Jan.12, 2024 shows onshore oil pumps in Tutong district in Brunei. Oil extended gains in Asian trade on Thursday after a surprise drop in U.S. crude stockpiles indicated strengthening demand, while possible supply disruptions following Ukrainian attacks on Russian refineries also underpinned prices. After seriously damaging Lukoil's refinery in Nizhny Novgorod on Tuesday, Ukraine hit refineries in the Rostov and Ryazan regions, Russian officials said. Two sources familiar with the situation told Reuters that the refinery had been forced to shut down two primary oil refining units. Gasoline inventories slid for a sixth straight week, falling by 5.7 million barrels to 234.1 million barrels, the EIA said, triple the expectations for a 1.9 million-barrel draw.

Persons: Vladimir Putin Organizations: Oil, U.S, West Texas, Rosneft's, Reuters, Energy Information Administration, EIA Locations: Tutong district, Brunei, Brent, Ukrainian, Nizhny Novgorod, Ukraine, Rostov, Ryazan, Rosneft's, Russian, Russia, U.S, Gulf

☆ Goldman says it's finally time to buy this major bank turnaround story
▼ + stars: | 2024-03-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Goldman Sachs has a buy rating on Citigroup for the first time since 2022, as the investment bank implements a turnaround strategy that should boost shareholder returns. Goldman has raised its stock price target for Citi to $68, implying nearly 18% upside from Wednesday's close price of $57.76. Goldman expects Citigroup's revenue to grow at an accelerated compound annual rate of 4% to reach $85.7 billion by 2026. Citigroup is also expected to increase share buybacks by $1 billion in 2024 and $4 billion in 2025. The bank may have capacity for even more buybacks if Basel 3 rules are changed, it said.

Persons: Goldman Sachs, Goldman, Richard Ramsden, — CNBC's Michael Bloom Organizations: Citigroup, Citi Locations: Basel

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