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☆ Regional banks hurt by higher interest rates, saving for depositor defaults after Q3
▼ + stars: | 2023-10-24 | by ( Sergio Padilla | ) edition.cnn.com time to read: +6 min

Following the bank closings, many other regional banks have had to pay higher interest rates on deposits in order to prevent customers from heading towards the exit. Comerica saw declines in both provisions and net interest income and a 28% decline in net income compared to last year. Zions Bancorp had a dramatic decline as well, seeing yearly declines in net interest income and provisions. Going forward, if demand for loans dries up, that gets rid of a key source of income for regional banks. The SPDR S&P Regional Banking ETF, a benchmark for judging the performance of shares of regional banks, was down 2.9% over five days as of midday trading on Friday.

Persons: “, ” Nathan Stovall, Stovall, ” Stovall, Huntington Bancshares, ”, Jerome Powell, JPMorgan Chase Organizations: CNN, Signature Bank, First Republic Bank, Silicon Valley Bank, Federal, P Global Market Intelligence, US Bancorp, Financial Corp, T Bank Corp, PNC Financial Services Group, Inc, Commerce, Comerica, Zions Bancorp, Keycorp, Zions, T Bank, PNC, Regional Banking, Fed, Citi Group, Wells, JPMorgan Locations: Ohio, Dallas, Salt, Huntington, Commerce, Keycorp, Regions, Gaza, Wells Fargo

☆ ULA CEO says inaugural Vulcan rocket launch planned for December
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:52 ULA CEO says inaugural Vulcan rocket launch planned for December03:56 Royal Philips CEO: We see a strengthening of consumer demand and a upping of confidence04:54 Huntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are up04:29 HPE CEO Antonio Neri: Here's why AI is a big opportunity for us03:05 Advance SF launches 'It All Starts Here' campaign for San Francisco04:13 Ivanhoe Cambridge CEO: We have to be ready for the opportunity the day interest rates stabilize

Persons: ULA, Antonio Neri Organizations: Vulcan, Royal Philips, Huntington Bancshares, San Francisco, Ivanhoe Cambridge

☆ Huntington Bancshares Profit Drops 8% as Interest Income Declines
▼ + stars: | 2023-10-20 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Huntington Bancshares posted an 8% drop in third-quarter profit on Friday, as the lender's income from interest on loans declined. U.S. banks are beginning to see the boost from rising benchmark interest rates fade as the Federal Reserve heads toward the end of its monetary policy tightening cycle. Growth in interest income has also been pressured by higher costs of deposits as customers withdraw cash to seek better returns in higher-yielding alternatives such as money market funds. Huntington said net interest income in the third quarter declined 3%, or $36 million, from the year-ago quarter. On a per-share basis, Huntington earned 35 cents in the three months ended Sept. 30, a drop of 4 cents from a year earlier.

Persons: Huntington Bancshares, Huntington, Manya Saini, Arun Koyyur Organizations: Reuters, Federal Reserve Locations: U.S, Bengaluru

☆ Morning Bid: Bond squeeze abates as Middle East war in focus
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. Dallas Fed cheif Lorie Logan added overnight that recent data and bond yield moves gave the central bank space. Reactions in the market were curious, however, with implied Fed policy rates in the futures market and two-year Treasury yields easing back even as 10-year yields chomped at the 5% bit. The resulting further disinversion of the yield curve to show the gap between two and 10-year yields at its lowest in a year is some testament to that. But with another nervous weekend around the Israel-Gaza war ahead, when markets are closed or illiquid, Friday trading has shifted the focus back to short-term safety hedges.

Persons: Lucas Jackson, Mike Dolan, Jerome Powell's, Powell, Lorie Logan, Huntington, Loretta Mester, Patrick Harker, Joe Biden, Charles Michel, Ursula von der Leyen, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Treasury, Atlanta Federal, Dallas Fed, Bank of Japan, L'Oreal, American Express, Interpublic, Schlumberger, Cleveland Federal, Philadelphia Fed, European Council, European Commission Reuters Graphics Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: U.S, Israel, Gaza, Europe, China, Comerica, Huntington Bancshares, Washington

Oct 20 (Reuters) - Shares of mid-sized U.S. banks fell on Friday after a string of earnings reports heightened investor concerns that the boost to lenders from the Federal Reserve's interest rate hikes was tapering off. Regions Financial (RF.N) dropped to the lowest level since March, when an industry crisis began following an outflow of deposits that engulfed three banks. The lender, shares of which were last down 11% at $14.71, said it expects net interest income (NII) in the fourth quarter to decline about 5% from current levels. Huntington Bancshares' (HBAN.O) stock dipped 1.3%, while Comerica (CMA.N) dropped 6.6%, dragging down the S&P 500 Banks index (.SPXBK) by 2.1%. Huntington Bancshares posted an 8% drop in third-quarter profit as interest income declined.

Persons: Wells, Mike Mayo, Mayo, Terry McEvoy, Huntington Bancshares, NII . Huntington Bancshares, Jaiveer Singh, Shilpi Majumdar Organizations: Regions, Regions Financial, Reuters, Stephens, Comerica, Third Bancorp, Thomson Locations: NII ., Bengaluru

☆ Huntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are up
▼ + stars: | 2023-10-20 | 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 EmailHuntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are upHuntington Bancshares CEO Stephen Steinour joins 'Power Lunch' to discuss their latest earnings, the impact of rising interest rates on regional banks, and more.

Persons: Huntington, Stephen Steinour Organizations: Huntington

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

☆ Stocks making the biggest moves midday: Rivian, Orchard Therapeutics, Lamb Weston and more
▼ + stars: | 2023-10-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Rivian said it anticipates revenue to range between $1.29 billion and $1.33 billion, versus the $1.3 billion forecast by analysts polled by LSEG, formerly known as Refinitiv. Clorox — Shares dropped 7.7% on Thursday, one day after the product maker offered worse fiscal first-quarter guidance than analysts polled by FactSet expected. Oculis — Shares rose 3.4% after Stifel initiated coverage of the biopharma company with a buy rating and $35 target price. Johnson & Johnson — Shares of the health-care giant added 0.8% in midday trading after RBC initiated company coverage with an outperform rating. Instacart — Instacart fell 2.9% after Bernstein initiated coverage of the company at a market perform rating, noting that increased competition challenged the delivery company's strong digital advertising business.

Persons: Rivian, Clorox, FactSet, Kyowa Kirin, Vestis, Oculis, Wedbush, Shagun Singh, Lamb Weston — Lamb Weston, Tom Werner, Instacart — Instacart, Bernstein, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh, Samantha Subin, Michelle Fox Theobald Organizations: Rivian, Rivian Automotive, LSEG, Exxon Mobil —, UWM Holdings, BTIG, Orchard Therapeutics, Kyowa, Redburn, JPMorgan, Carrier, Bank of America, Johnson, RBC, Constellation Locations: Aramark, Europe

☆ JPMorgan upgrades this little-known regional bank with more than 45% upside
▼ + stars: | 2023-10-05 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

JPMorgan thinks it's time to buy shares of North Carolina-based regional bank Live Oak Bancshares . Analyst Steven Alexopoulos upgraded the stock to overweight from neutral and maintained his price target of $40. Shares of Live Oak Bancshares are down more than 15% over the past month. "The recent sell-off provides us with the entry point that we were waiting for," Alexopoulos said in a Thursday note. "With Live Oak now on a mission to cross-sell operating deposit accounts to its small business customers, we see a significant opportunity to improve its growth as well as return profiles," the analyst said.

Persons: Steven Alexopoulos, Alexopoulos, BJ Losch, — CNBC's Michael Bloom Organizations: JPMorgan, Federal Reserve Locations: North Carolina

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Ford, Wingstop, American Express and more
▼ + stars: | 2023-10-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America initiates Wingstop as buy Bank of America said shares of the wing restaurant company are attractive. " Bank of America downgrades Carrier to underperform from neutral Bank of America said it sees residential headwinds. "We are initiating on the Alternative Asset Management sector with a Market Overweight rating. Deutsche Bank initiates AIG as buy Deutsche Bank initiated the insurance company with a buy and says shares are de-risked. Bank of America reiterates American Express as a top pick Bank of America said the credit card company is its favorite idea in the sector. "

Persons: Stifel, Wedbush, Morgan Stanley, Ford, CARR, Parker, ITW, Raymond James downgrades Clorox, Raymond James, CLX, Johnson, Wolfe, Bernstein, Chubb Organizations: BMO, Sinclair, Oculis, Citizens, CIT Group, Bank, JPMorgan, Barclays, Meta, Bank of America, Ford, General Motors, GM, UAW, of America, Nvidia, ISI, RBC, Johnson, Pharma, KKR, Alternative, Management, Asset Management, CART, Deutsche Bank, AIG, Citi, O'Reilly Automotive, O'Reilly, American Express Locations: CY24, U.S

☆ Rising interest rates are hurting very broad swaths of the stock and bond markets
▼ + stars: | 2023-10-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Dozens of stocks and ETFs are hitting 52-week lows on the relentless rise in interest rates. Treasury bond ETFs: New lows iShares 1-3 Year Treasury Bond ETF (SHY) iShares 7-10 Year Treasury Bond ETF (IEF) iShares 10-20 Year Treasury Bond ETF (TLH) iShares 20+ Year Treasury Bond ETF (TLT) It's not just Treasury bonds. Broad bond ETFs: New lows Vanguard Total Bond Market ETF (BND) iShares Core US Aggregate Bond Fund (AGG) Higher rates are affecting other areas of the U.S. economy: look at clean energy and biotech It's simple. Clean energy ETFs: New lows iShares Global Clean Energy (ICLN) VanEck Low Carbon Energy ETF (SMOG) Invesco WilderHill Clean Energy ETF (PBW) Invesco Solar ETF (TAN) It's the same story with biotech. The SPDR S & P Biotech ETF (XBI) , which tracks an equal-weighted index of US biotechnology stocks, is at a 52-week low.

Persons: Schwab, It's Organizations: Vanguard Utilities, Treasury Bond ETF, Bond Market, Bond Fund, NextEra Energy Partners, Clean Energy, Carbon Energy, P Biotech, Biotechnology, Biotech, Verizon, SPDR Telecom, AT, Property, Comerica, Huntington Bancshares Locations: U.S, Orsted, Denmark, REITs

☆ Here are Friday's biggest analyst calls of the day: Tesla, Ford, Apple, Amazon, Disney, Nike, FedEx and more
▼ + stars: | 2023-09-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock. Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating on shares of Ford despite the United Auto Workers strike. Canaccord reiterates Tesla as buy Canaccord said its standing by its buy rating on Tesla ahead of its upcoming delivery numbers report. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said Amazon continues to be the "dominant" player in e-commerce.

Persons: Jefferies, Edward Jones downgrades Berkshire Hathaway, Edward Jones, Morgan Stanley, Ford, it's, Canaccord, Tesla, we've, Goldman Sachs, Raymond James, Bud Light, Apple, Amazon, Brinker, Stifel, Huntington Organizations: Jefferies, Ball Corporation, Bank of America, Disney, DIS, CYE23, Texas, 3Q23, Brands, Burger King, Ford, United Auto Workers, HSBC, FedEx, UPS, DHL, Nike, Immunology, " Bank of America, Anheuser, Busch InBev, of America, Apple, Citi Locations: Texas, QSR, North America, Asia, ZION

☆ These are Jefferies 'rock-solid' dividend stock picks
▼ + stars: | 2023-09-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Right now, few dividend stocks can compete with the attractive yields in the Treasury market. To determine its rock-solid dividend picks, Jefferies looked at companies in the MSCI USA Index with sustainable dividend and buyback yields. Apple is the largest company on the list, with a 3.5% total yield, which is its 12-month forward dividend yield and its last 12-month buyback yield. The tech giant, which just released its latest iPhone, has a current dividend yield of 0.6% and is known for its stock buybacks. The stock has a 12-month forward dividend yield and last 12-month buyback yield totaling 5.5%.

Persons: Jefferies, Peramunetilleke, Charles Schwab, Bancshares, Morgan Stanley, — CNBC's Michael Bloom Organizations: Treasury, Federal Reserve, Apple, Nike, LSEG Locations: U.S

☆ Stocks making the biggest moves midday: Instacart, Steelcase, Klaviyo and more
▼ + stars: | 2023-09-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Klaviyo — Klaviyo shares jumped more than 9% after the marketing automation company surged to $36.75 after its New York Stock Exchange initial public offering. Stellantis — Shares rose about 1.7% after sales in Europe of brands such as Peugeot and Opel surged more than 6% in August. On Holding — The shoe stock rose finished lower ever after Needham initiated coverage with a buy rating. Lululemon — The athleisure clothing company rose nearly 2% after Needham initiated coverage with a buy rating, saying it expects double-digit top-line growth as accelerating technical innovation drives demand. Davidson initiated coverage on the stock at a buy.

Persons: Instacart, Steelcase, Jefferies, Davidson, Mills, Coty, Morgan Stanley, Chewy, Oppenheimer, Needham, Goldman Sachs, Azul, it's, —, Alex Harring, Hakyung Kim, Jesse Pound, Michelle Fox, Sarah Min, Yun Li, Lisa Kailai Han Organizations: Nasdaq, New York Stock Exchange, Bausch Health, —, Health, Peugeot, Opel, Chrysler, United Auto Workers, Citi, D.A, LSEG, Coty, Technologies, Textron — Textron, Berkshire Hathaway, Cessna Citation, Azul, JPMorgan, First, Bank Locations: Europe, U.S

☆ Here are Wednesday's biggest analyst calls: Apple, IBM, Disney, Amazon, Instacart, Nike, Boeing and more
▼ + stars: | 2023-09-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Apple as overweight Morgan Stanley said its iPhone survey checks show that China is a "bright spot." Needham initiates On Holding as buy Needham said the shoe manufacturer is one of the "fastest growth stories" in retail. Needham initiates Lululemon as buy Needham said in its initiation of Lululemon that it has "superior growth characteristics." Morgan Stanley downgrades Zebra Holdings to underweight from equal weight Morgan Stanley said the turnaround is taking longer than expected for the computer printing tech company. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said Amazon's Tuesday announcement of seasonal hires is a "bullish leading indicator for expected continued retail share gains."

Persons: Morgan Stanley, Apple, Needham, Lululemon, Oppenheimer, Chewy, Bernstein, SVB, Jefferies, Instacart, Rosenblatt, Sonos, Goldman Sachs, Morgan Stanley downgrades nCino, it's, D.A, Davidson, Wedbush Organizations: Apple, UBS, Nike, Microsoft, RBC, IBM, JPMorgan downgrades, JPMorgan, Boeing, Citi, Citizens, FDIC, Health, America, Azul, Holdings, UW, " Bank of America, Disney, Bank of America, DIS Locations: China, SVB, U.S, Germany, Great Britain, France

☆ JPMorgan says shares of this bank are headed to $1,850 as it benefits from SVB's demise
▼ + stars: | 2023-09-20 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

First Citizens BancShares , the institution that bought a large chunk of failed Silicon Valley Bank, is set to benefit from these assets tied to financial innovation, according to JPMorgan. The Wall Street firm initiated coverage of First Citizens BancShares at overweight with a $1,850 price target for December 2024. Founded in 1898, First Citizens has been led by the Holding family for more than 100 years, and it has grown to a top 20 bank with $210 billion assets, JPMorgan said. The analyst noted that First Citizens is trading at a 16% discount to its peers despite the strong rally this year. "While the key to SVB's long-term success will eventually be the culture of the former company being resurrected, we find many similarities between the legacy SVB culture and the First Citizens culture," Alexopoulos wrote.

Persons: BancShares, SVB, Steven Alexopoulos, Alexopoulos, — CNBC's Michael Bloom Organizations: Bank, JPMorgan, First, First Citizens, Citizens Locations: Tuesday's, SVB, U.S

☆ Cramer's Lightning Round: Alphabet is a buy
▼ + stars: | 2023-08-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Applied Materials' year-to-date stock performance. Stock Chart Icon Stock chart icon Telus International's year-to-date stock performance. Stock Chart Icon Stock chart icon Tutor Perini's year-to-date stock performance. Stock Chart Icon Stock chart icon Nio's year-to-date stock performance. Stock Chart Icon Stock chart icon Huntington Bancshares' year-to-date stock performance.

Persons: They're, Perini, They've, I'm, I'd, Huntington Bancshares, Huntington Organizations: Telus

☆ Lightning Round: Buying Rocket Lab is like sending money up in smoke, says Jim Cramer
▼ + stars: | 2023-08-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Buying Rocket Lab is like sending money up in smoke, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Applied Materials, Telus International, Tutor Perini, Google, NIO, Rivian, Medical Properties and Huntington Bancshares.

Persons: Jim Cramer, Perini Organizations: Materials, Telus International, Google, Huntington

Moody's cut the ratings of 10 U.S. banks by one notch and placed some banking giants on review for potential downgrades. The downgraded banks include M&T Bank (MTB.N), Pinnacle Financial Partners (PNFP.O), Prosperity Bank and BOK Financial Corp (BOKF.O). The banks placed on review for downgrade include BNY Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N). Moody's changed its outlook to negative from stable for Capital One (COF.N), Citizens Financial (CFG.N) and Fifth Third Bancorp (FITB.O), among others. The ratings agency also affirmed the ratings of PNC Financial Services Group (PNC.N), Citizens, and Huntington Bancshares (HBAN.O) alongside other banks.

Persons: Moody's, BNY Mellon, Huntington, Juby Babu, Muralikumar Anantharaman Organizations: Moody's Corporation, T Bank, Pinnacle Financial Partners, Prosperity Bank, BOK Financial Corp, BNY, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Citizens, Fifth Third Bancorp, PNC Financial Services, Thomson Locations: Manhattan , New York, U.S, Silicon, Bengaluru

☆ Moody’s warns it could cut credit ratings of 6 big US banks
▼ + stars: | 2023-08-08 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

CNN —Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade. A lower credit rating could push funding costs for those banks even higher. This, in turn, has raised fears that banks, which finance many commercial real estate deals, could suffer losses as a result. “Most regional banks have comparatively low regulatory capital versus the largest US banks and global peers,” Moody’s noted Monday. Moody’s also downgraded 10 smaller US banks Monday, including Commerce Bancshares (CBSH), BOK Financial Corporation and M&T Bank Corporation.

Persons: CNN — Moody’s, Dow, Cullen Frost, ” Moody’s, Moody’s Organizations: CNN, Bank of New York Mellon, State, Northern Trust, Nasdaq, Silicon Valley Bank, Signature Bank, First, U.S . Bancorp, Commerce, BOK Financial Corporation, T Bank Corporation Locations: Silicon, First Republic, United States

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

(Reuters) -Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and spike in deposit costs. NII - the difference between what banks make on loans and pay out on deposits - rose for nearly all banks reporting earnings for the April-June quarter, with Comerica and Huntington also topping profit estimates. Mid-sized lender Regions Financial, which also reported results on Friday, said its deposit costs had risen in the second quarter. Comerica slashed its 2023 NII growth forecast to a range of 1% to 2% from 6% to 7% estimated earlier, and its shares fell 3.8%. Its shares slipped 1.3% in late-morning tradeRegions Financial kept its 2023 NII forecast unchanged but its stock declined 3.4%.

Persons: Huntington Bancshares, Mike Segar, Huntington, ”, Christopher Marinac, Janney Montgomery Scott, James Herzog Organizations: Reuters, Comerica, Huntington, Wall, New York Stock Exchange, REUTERS, Federal, Financial, ” Comerica Locations: Manhattan, New York City , New York, U.S

☆ Morning Bid: Dollar flexes into Fed week, calm returns
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +4 min

Another unexpectedly tight weekly reading from the U.S. labour market sowed some lingering doubts that we're on the cusp of 'peak Fed' just yet. The tech wobble saw the Nasdaq (.IXIC) recoil 2% in its biggest drop since March. A quieter earnings schedule is topped by American Express - but nearly all the other banks have been impressive over the past week. Pessimists think the Fed is not done tightening yet and any further rate hikes after next week will just hasten a downturn in 2024. That has sobered up the Treasury market a touch after a couple of weeks of disinflation relief.

Persons: Mike Dolan, jockeying, we're, Dow Jones industrials, Johnson, Pessimists, Huntington Bancshares, Janet Yellen, Angus MacSwan Organizations: Big Tech, Tesla, Netflix, Nasdaq, American Express, Treasury, Bank of Japan, Comerica, Regions, Roper Technologies, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Huntington, Schlumberger, Canada, Hanoi

☆ Huntington Bancshares beats Q2 profit estimates on interest income strength
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

July 21 (Reuters) - Huntington Bancshares (HBAN.O) beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans. "There is increasing optimism around a very modest slowdown, (or) recession," the bank's CEO Stephen Steinour said, citing stimulus spending from the government. "The interest rate outlook has continued to change," said Steinour, adding there are expectations that rates will remain higher for a longer period. Huntington earned $0.35 per share in the second quarter versus analysts' average estimate of $0.34 per share, according to Refinitiv IBES data. Total deposits at Huntington were $148 billion, up nearly 2% from the first quarter.

Persons: Huntington, Stephen Steinour, NII, Niket, Saeed Azhar, Shweta Agarwal, Deepa Babington Organizations: U.S . Federal Reserve, Comerica, Fifth Third Bancorp, Thomson Locations: U.S, Columbus , Ohio, Huntington, Bengaluru, New York

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

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