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Search resuls for: "CNBC's Hugh Son"


19 mentions found


☆ Silicon Valley Bank meltdown: Contagion risk or contained?
  + stars: | 2023-03-10 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank meltdown: Contagion risk or contained? CNBC's Hugh Son joins "Squawk Box" to discuss what's happening at Silicon Valley Bank and whether there's a risk of contagion from high-profile investors pulling their money from the bank.
☆ Shares of SIVB continue to slide as VCs pull money from the bank
  + stars: | 2023-03-09 | 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 EmailShares of SIVB continue to slide as VCs pull money from the bankCNBC's Hugh Son joins 'Fast Money' to report that shares of Silicon Valley Bank have continued to slide as VCs and others continue to pull money from the bank.
☆ Goldman Sachs prepares for investor day as concerns mount over CEO David Soloman
  + stars: | 2023-02-27 | by ( Hugh Son | ) 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 EmailGoldman Sachs prepares for investor day as concerns mount over CEO David SolomanCNBC's Hugh Son joins 'The Exchange' to discuss Goldman Sachs pivoting its growth strategy away from consumer banking, the missteps of Goldman Sachs CEO David Soloman and expectations for Goldman's investor day.
☆ Wells Fargo, others lays off mortgage bankers
  + stars: | 2023-02-23 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo, others lays off mortgage bankersCNBC's Hugh Son breaks down the housing market as U.S. mortgage rates jump to their highest levels since November.
☆ Is there a thaw in the IPO market?
  + stars: | 2023-02-09 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs there a thaw in the IPO market? CNBC's Hugh Son discusses the IPO market and what sectors to watch.
☆ Bank earnings kick off
  + stars: | 2023-01-13 | 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 EmailBank earnings kick offCNBC's Hugh Son joins 'Power Lunch' to discuss this morning's bank earnings and what they say about the possibility of a recession.
☆ Wells Fargo shares fall as bank's profits cut in half by higher reserves, settlement costs
  + stars: | 2023-01-13 | by ( Yun Li | ) www.cnbc.com   time to read: +3 min
People walk past a Wells Fargo bank on 14th Street on December 20, 2022 in New York City. Wells Fargo shares came under pressure Friday after the bank reported shrinking profits, weighed down by a recent settlement and the need to build up reserves amid a deteriorating economy. Meanwhile, Wells Fargo also said last month that it would have a $2.8 billion after-tax operating loss tied to legal and regulatory costs. After excluding severance costs and a tax gain, Wells Fargo earned 61 cents a share, shy of the 66 cents analysts surveyed by Refinitiv were expecting. As the most mortgage-dependent of the six biggest U.S. banks, Wells Fargo has faced pressure as sales and refinancing activity has fallen steeply amid mortgage rates that have topped 6%.
☆ We're excited about big banks with strong consumer deposits, says RBC's Gerard Cassidy
  + stars: | 2023-01-12 | by ( Hugh Son | ) 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 EmailWe're excited about big banks with strong consumer deposits, says RBC's Gerard CassidyCNBC's Hugh Son and Gerard Cassidy of RBC join 'The Exchange' to discuss upcoming bank earnings, Cassidy's picks and projected declines in earnings.
☆ Well Fargo shrinks mortgage services business
  + stars: | 2023-01-11 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWell Fargo shrinks mortgage services businessCNBC's Hugh Son joins 'The Exchange' to discuss drops in Wells Fargo mortgage volumes, risk associated with mortgage markets and top mortgage firms leaving the space.
☆ Wells Fargo to significantly step back from housing market
  + stars: | 2023-01-10 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo to significantly step back from housing marketCNBC's Hugh Son joins 'Closing Bell: Overtime' to report that Wells Fargo has decided to take a significant step back from the mortgage market.
☆ Goldman Sachs CEO says jobs cuts are coming next month
  + stars: | 2022-12-29 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs CEO says jobs cuts are coming next monthCNBC's Hugh Son joins CNBC's 'Squawk on the Street' to report on Goldman Sachs' job cuts that are coming next month. The firm is expected to lay off about 4,000 employees in the first two weeks of January.
☆ Fintech reckoning: Consolidation will happen in next 6-12 months
  + stars: | 2022-12-29 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFintech reckoning: Consolidation will happen in next 6-12 monthsCNBC's Hugh Son reports on financial technology companies' prospects for the next year.
☆ Goldman's job cuts likely won't be the last as Wall Street prepares for winter
  + stars: | 2022-12-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman's job cuts likely won't be the last as Wall Street prepares for winterCNBC's Hugh Son joins Power Lunch to discuss more layoffs coming to Wall Street as big banks continue to downsize.
☆ Goldman Sachs plans to cut 8% of employees in January
  + stars: | 2022-12-16 | by ( Hugh Son | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs plans to cut 8% of employees in JanuaryCNBC's Hugh Son joins 'Squawk on the Street' to discuss why Goldman Sachs is planning additional labor cuts. The January layoffs will impact every division of the bank.
☆ Layoffs and shrinking bonuses hit Wall Street as Morgan Stanley announces job cuts
  + stars: | 2022-12-02 | 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 EmailLayoffs and shrinking bonuses hit Wall Street as Morgan Stanley announces job cutsCNBC's Hugh Son reports on recent news from the banking sector.
☆ Goldman’s official 2023 outlook is here: Where it thinks the market is headed and what to buy
  + stars: | 2022-11-22 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Goldman Sachs is predicting zero earnings growth in 2023, with stocks ending the next year essentially flat. The firm is pegging 2023 S & P 500 earnings-per-share flat at $224 and the index ending next year at 4,000, just over 1% from Monday's close. The bank's EPS yield for the next 12 months is 14%, while its estimated EPS will decline by 12% in 2023, according to Goldman. Walgreens's EPS yield for the next 12 months is 11% and its estimated 2023 earnings growth is 2%, Goldman found. Its next-12-month EPS yield is 7% and its estimated EPS growth for 2023 is 4%, according to Goldman.
☆ U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say
  + stars: | 2022-10-21 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
The company said overall customer spending jumped 21% year over year, driven by growth in goods and services as well as travel and entertainment. "Card member spending remained at near-record levels in the quarter," American Express CEO Stephen Squeri said Friday on an earnings call. "We expected the recovery in travel spending to be a tailwind for us, but the strength of the rebound has exceeded our expectations throughout the year." Bank of America isn't experiencing any slower growth in spending either, despite inflation having reached historic highs. "Analysts might wonder whether the talk of inflation, recession and other factors could [result] in a slower spending growth," Moynihan said Monday during a conference call.
☆ Wells Fargo profit falls as bank boosts loan loss reserves; shares rise
  + stars: | 2022-10-14 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Pedestrians pass a Wells Fargo bank branch in New York, U.S., on Thursday, Jan. 13, 2022. Wells Fargo on Friday reported lower quarterly earnings than a year ago as a decision to build up reserves cut into profits. Wells Fargo shares were up 2% in premarket trading, as revenue topped expectations. Wells Fargo, with its focus on retail and commercial banking, was widely expected to be one of the big beneficiaries of higher rates. "Wells Fargo is positioned well as we will continue to benefit from higher rates and ongoing disciplined expense management," Scharf said.
☆ Goldman's Apple Card faces mounting credit losses
  + stars: | 2022-09-12 | by ( ) 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 EmailGoldman's Apple Card faces mounting credit lossesCNBC's Hugh Son joins 'TechCheck' to discuss Goldman Sachs' charge-off rate for the Apple Card, a trend of weak credit scores among its customer base, and vulnerability brought on by credit losses.
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