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☆ Microsoft shares rise as Wall Street heralds ‘strong execution,’ wider AI rollout
▼ + stars: | 2023-10-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The company also beat revenue consensus among analysts surveyed by LSEG, formerly known as Refinitiv. Microsoft reported revenue of $56.52 billion for the quarter, compared to a consensus estimate of $54.50 billion. Zelnick raised his price target from $380 to $395, adding that "operating discipline" and "a full-stack approach to delivering AI solutions" was just as, if not more impressive, than Microsoft's revenue beat. Azure revenue alone, which Microsoft doesn't disclose in dollars, grew 29% during the quarter. Comments from Microsoft executives helped boost analyst sentiment as well, with Chief Financial Officer Amy Hood saying on a Tuesday call with analysts, "We feel good about our execution, we feel good about taking share and we feel good about consistent trends."

Persons: Brad Zelnick, Zelnick, Raimo Lenschow, Microsoft's, Lenschow, Amy Hood, Jordan Novet, Michael Bloom Organizations: Microsoft, LSEG, Deutsche Bank, Software, Barclays, CNBC

Wall Street analysts reacted to Microsoft's and Google-parent Alphabet's latest quarterly results. Meanwhile, Barclays upgraded a telecom giant with underappreciated strength going forward. Other major calls include Citi's downgrade of an e-commerce company and Deutsche Bank raising its rating on a lithium stock.

Organizations: Google, Barclays, Deutsche Bank

☆ Deutsche Bank shares surge as it promises more cash for investors
▼ + stars: | 2023-10-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in Deutsche Bank surged nearly 7% Wednesday after it said strong earnings meant it could pay out more cash to shareholders over the next two years than previously anticipated. The bank said it expected to buy back more of its shares — a move which typically juices a company’s stock price — next year. It marks a striking turnaround for the bank following years of scandal, mass layoffs and regulatory fines that have weighed on its reputation, and its stock price. Shares have nearly doubled since hitting a record low in March 2020 but have still cratered 67% over the past decade. The Fed found that Deutsche Bank had made insufficient progress since 2018 to tighten its anti-money laundering controls, among other failures.

Persons: “ Organizations: London CNN —, Deutsche Bank, DB, ”, US Federal Reserve Locations: €

☆ Deutsche Bank sets aside $273 mln provision for Gazprom subsidiary's Russian lawsuits
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Oct 25 (Reuters) - Deutsche Bank (DBKGn.DE) said on Wednesday that it had set aside a 258 million euro ($272.84 million) provision in the third quarter related to lawsuits by a subsidiary of Russian gas giant Gazprom (GAZP.MM). RusKhimAlyans, which is 50% owned by Gazprom, has filed lawsuits seeking a total of 31 billion roubles ($348 million) from Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE), Russian court documents show. Deutsche Bank said in its quarterly report that the bank has been unable to make the payment due to EU sanctions against Russia. Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights"The Russian court is expected to not recognize the EU sanctions as a basis for not making payment," Deutsche Bank said in explaining the provision.

Persons: Dado Ruvic, Deutsche, Tom Sims, Friederike Heine Our Organizations: Deutsche Bank, Gazprom, Russia, REUTERS, Thomson Locations: FRANKFURT

Third-quarter net profit was 1.031 billion euros ($1.06 billion), above an analyst consensus of quarterly net profit attributable to shareholders of 997 million euros, according to LSEG data. The bank's third-quarter net profit was down 8% on the previous year and up 35% on the quarter, amid ongoing struggles in the lender's investment unit. It also said it had scope to release up to an additional 3 billion euros in capital and would increase and accelerate shareholder distributions. The provision for credit losses was 200 million euros, compared to 350 million in the same quarter of last year. Analysts at UBS said Deutsche Bank had delivered a "major improvement in capital" and "robust operational performance," flagging that pre-tax profit of 1.723 billion euros was 9% above consensus.

Persons: James von Moltke, CNBC's Silvia Amaro, von Moltke Organizations: Deutsche Bank, UBS Locations: London

☆ Jim Cramer sees little margin for error in Apple's upcoming earnings report
▼ + stars: | 2023-10-25 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

"One penny, with this company, is enough to bring the stock down," Cramer said on "Squawk on the Street." Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, has long owned Apple stock. There's little margin for error in Apple 's (AAPL) upcoming earnings report, CNBC's Jim Cramer said Wednesday. The analysts maintained a buy rating on Apple stock and said they expect the company's results to largely be in line with Wall Street expectations. The quarterly results from Apple next week will only include about one week's worth of iPhone sales, Cramer cautioned.

Persons: Cramer, Wall, CNBC's Jim Cramer, Cramer's, Jim Cramer's, — Organizations: Trust, CNBC, Apple, Deutsche Bank, U.S Locations: China

[1/2] People are silhouetted next to the Deutsche Bank's logo prior to the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach Acquire Licensing RightsSummaryCompanies Shares up 7%Investment bank revenue declinesRevenue at retail and corporate divisions riseSlightly more optimistic on 2023 revenueForecasts buybacks in 2024, flags greater capital returnFRANKFURT, Oct 25 (Reuters) - Deutsche Bank (DBKGn.DE) on Wednesday promised more share buybacks next year and said it may return more capital to shareholders than it had previously envisaged, causing its shares to surge. Revenue from investment banking slumped but grew in the lender's retail and corporate divisions on higher interest rates. Deutsche Bank shares were up 7% in morning Frankfurt trade as analysts cited positive news on potential buybacks and dividends. Though earnings dropped, Deutsche recorded its 13th consecutive profitable quarter, a notable streak after years of hefty losses.

Persons: Kai Pfaffenbach, Deutsche, James von Moltke, Mediobanca, Sewing, JPMorgan's, Tom Sims, Frank Siebelt, Jamie Freed, Jason Neely Organizations: Deutsche, REUTERS, Deutsche Bank, Reuters Graphics Reuters, Reuters Graphics Reuters Graphics Investment, Revenue, Goldman, Barclays, RBC, Thomson Locations: Frankfurt, Germany, FRANKFURT

☆ Morning Bid: Megacaps scatter in the cloud
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. But after the S&P500 staged an impressive 0.7% bounce on Tuesday, futures were back in the red again ahead of the open. The negativity cut across what was otherwise a more upbeat macro picture and a calmer bond market following recent ructions. Chinese developer Country Garden (2007.HK) is deemed in default on a dollar bond for the first time, Bloomberg News reported. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Alphabet's, Microsoft's, Baker Hughes, Teradyne, Hess, Jerome Powell, Barbara Lewis Organizations: New York Stock Exchange, REUTERS, Big Tech, Google, Microsoft, Meta, IBM, Boeing, Bloomberg News, Treasury, Bank of Canada, Deutsche Bank, United Health, General Dynamics, Whirlpool, Otis, Hilton, U.S, Reuters, PMI, Thomson Locations: New York City, U.S, HK, United States, Europe, Worldline, Germany, Ameriprise, EQT, Washington

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Waste Management and more
▼ + stars: | 2023-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. Norfolk Southern — The freight railroad dropped 5.3% on the back of disappointing third-quarter earnings. General Dynamics — Shares of General Dynamics rose 4% after the defense contractor's third-quarter earnings and revenue topped estimates. The semiconductor manufacturer sees earnings per share between $1.35 and $1.57, versus the $1.76 expected by analysts polled by FactSet. The stock's third-quarter revenue also disappointed investors, coming in at $4.35 billion, versus the $4.58 billion estimated by analysts polled by LSEG.

Persons: Wells, Max, —, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li Organizations: Microsoft —, Microsoft, Windows, Norfolk Southern, LSEG, Revenue, Dynamics —, Dynamics, General Dynamics, Boeing —, Deutsche Bank, . Waste Management, Texas, FactSet Locations: U.S

☆ European stocks open lower amid earnings; Deutsche Bank up 7% after beating estimates
▼ + stars: | 2023-10-25 | by ( Matt Clinch | ) www.cnbc.com time to read: 1 min

European markets opened lower Wednesday amid a slew of earnings both in the U.S. and Europe. The Stoxx 600 index slipped 0.2% with sectors mixed, as mining stocks gained 0.67% and retail stocks fell 0.7%. Deutsche Bank shares were 7% higher in early trade. Banking stocks fell Tuesday as Barclays warned of cost-cutting charges. Meanwhile, Alphabet shares tumbled as its cloud business missed analysts' estimates.

Organizations: Deutsche Bank, Banking, Barclays, AkzoNobel, Lloyds Banking Group, Carrefour, U.S, Microsoft Locations: U.S, Europe, Heineken

☆ Stock Market News Today: Nasdaq Falls 300 Points; Alphabet Stock Price Falls After Earnings
▼ + stars: | 2023-10-25 | by ( ) www.wsj.com time to read: +1 min

Some of the stock market's behemoths badly underperformed, weighing on the broader market. Alphabet's stock closed down more than 9% after reporting its quarterly results , a warning sign to some investors about the resilience of tech stocks after a banner year . Stay tuned: The earnings deluge continues today, with Facebook parent Meta Platforms , Barbie maker Mattel and IBM due to report after the closing bell. Stocks fell. Chip stocks fell after Texas Instruments reported lackluster quarterly results.

Persons: Stocks, Chip Organizations: Apple, Nvidia, Microsoft, Facebook, Mattel, IBM, Nasdaq, Texas, Germany's Deutsche Bank

☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +23 min

These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.

Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo

☆ Treasury yields continue retreat after 10-year slips back below 5%
▼ + stars: | 2023-10-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

ET, the yield on the benchmark 10-year Treasury note was down around 2.4 basis points at 4.8145% while the yield on the 30-year Treasury bond slipped just over 3 basis points to 4.9559%. U.S. Treasury yields continued to moderate on Tuesday after slipping back below 5%, though they remained near 16-year highs. Yields fell after Pershing Square's Bill Ackman on Monday disclosed that he had covered his bond short position. Markets are all but certain that the Fed funds target range will remain unchanged next week, according to CME Group's FedWatch tool. Auctions will be held Tuesday for $75 billion of 42-day Treasury bills and $51 billion of 2-year notes.

Persons: Pershing, Bill Ackman, Ackman, Jim Reid, Reid, Jerome Powell, Powell Organizations: Treasury, Deutsche Bank, Treasurys, Federal Locations: London

☆ Wall Street wants to know how Google's going to profit from AI
▼ + stars: | 2023-10-24 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

In the age of AI hype, few companies have used the word "AI" more than Google. Now, Wall Street wants know how it'll turn the hyped tech into dollars and cents. With SGE, Pichai said it'll be able to include "a wider range of sources on the results page, creating new opportunities for content to be discovered." Pichai added that with AI, he sees the opportunity to "evolve search and assistant for the next decade ahead." "It's probably the ultimate example of AI," Pichai said in response to Sheridan's question.

Persons: Bard, Lloyd Walmsley, Pichai, Brian Nowak, Morgan Stanley, Nowak, it'll, Philipp Schindler, we're, Schindler, UBS's Eric Sheridan, execs, Max, Google's, It's Organizations: Google, Deutsche Bank, YouTube, CNBC, Samsung, Toyota

☆ Here's what all the major analysts are saying about Alphabet before earnings
▼ + stars: | 2023-10-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Wall Street is optimistic ahead of Google 's quarterly earnings announcement Tuesday as the tech giant's advertising revenue growth shows signs of recovery. Analyst Ronald Josey estimates search revenue growth gained 11.3% year-over-year, versus the consensus projection of 9.6%. Bank of America sees search growth accelerating Bank of America also maintained its buy rating and $146 price target. We expect disruption with the format change, which will likely drive headwinds to medium-term search growth. Competitors are likely to bid aggressively for Google's search distribution partnerships, driving profitability lower.

Persons: Doug Anmuth, he's, Ronald Josey, Max, Jefferies, Brent Thill, Michael Bloom Organizations: Google, YouTube, Deutsche, JPMorgan, Citi, 3Q, Bank of America, of America, 2H, 12.1x Locations: Monday's, Wells

NEW YORK (AP) — Michael Cohen once proclaimed he'd “take a bullet” for Donald Trump. Trump is expected to be in court for the highly anticipated testimony, detouring from his usual campaign haunts to the Manhattan courtroom for a sixth day this month. Trump attended the trial for two days last week — having planned the trip when it was expected that Cohen would be testifying. Trump is expected to testify later in the trial. James, a Democrat, has credited Cohen as the impetus for her civil investigation, which led to the fraud lawsuit being decided at the trial.

Persons: — Michael Cohen, he'd “, Donald Trump, Trump, detouring, Cohen, wasn't, ”, Letitia James, Arthur Engoron, Engoron, Trump’s, “, it’ll, president's Organizations: ” New York, Trump Organization, Trump, Democrat, Deutsche Bank, Buffalo Bills, Forbes, White Locations: Manhattan, Congress, Sisak, x.com

ECB chief Christine Lagarde may stick with the high-for-longer mantra that has pushed up long-dated bond yields. A weakening economy meanwhile suggests the need for further tightening is limited but the ECB is likely to push back against rate-cut speculation. ECB chief economist Philip Lane says the ECB will need time, possibly until next spring, before it can be confident that inflation is coming down. The ECB expects headline inflation to ease to 3.2% in 2024 from an average of 5.6% in 2023. Oil price moves, inflation outlook shifts4/ What does the ECB do if things go wrong with Italy?

Persons: Christine Lagarde, Johanna Geron, Francis Yared, Philip Lane, Lagarde, PEPP, Reinhard Cluse, Chris Jeffrey, Cluse, ING's Brzeski, Dhara Ranasinghe, Stefano Rebaudo, Naomi Rovnick, Susan Fenton Organizations: European Central Bank, Parliament's, Economic, Monetary Affairs, REUTERS, ECB, Deutsche Bank, Reuters Graphics Reuters, UBS, Reuters, Legal, General Investment Management, Treasury, Thomson Locations: Brussels, Belgium, Europe, United States, Italy, Germany

☆ JPMorgan settlement with Epstein accusers draws objection from US states
▼ + stars: | 2023-10-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

They also said Deutsche Bank's (DBKGn.DE) similar $75 million agreement with Epstein's accusers did not contain the offending language. Lawyers for Epstein's accusers did not immediately respond to similar requests. He ordered JPMorgan and Epstein's accusers to address the states' objection by Nov. 6. Epstein died in August 2019 in a Manhattan jail cell while awaiting trial for sex trafficking. The case is Doe 1 v JPMorgan Chase & Co, U.S. District Court, Southern District of New York, No.

Persons: Mike Segar, JPMorgan Chase's, Jeffrey Epstein's, Epstein, Raul Torrez, Jed Rakoff, Jonathan Stempel, Lisa Shumaker Organizations: JPMorgan Chase, Co, REUTERS, JPMorgan, D.C, Deutsche, New, of, U.S, U.S ., JPMorgan Chase & Co, Court, Southern District of, Thomson Locations: New York, U.S, Manhattan, Washington, New Mexico, Arizona , California , Connecticut, Delaware, of Columbia, Hawaii , Illinois, Maryland, Minnesota , Mississippi , New York , Oregon , Pennsylvania, Tennessee , Utah, Vermont, U.S . Virgin Islands, York, Southern District, Southern District of New York

The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing RightsCompanies Deutsche Bank AG FollowFRANKFURT, Oct 23 (Reuters) - Customers of two Deutsche Bank (DBKGn.DE) units have lodged a surge in complaints with Germany's consumer protection agency, the advocacy group said on Monday, as the banking giant scrambles to make good with aggravated clients. The VZBZ consumer group said it had registered about 1,700 complaints by customers of Deutsche's Postbank arm and its mortgage division in the year through September. The consumer group had already reported complaints of Postbank customers not having access to their funds for weeks and direct debits getting rejected, jeopardising their credit scores. BaFin got nearly 10,000 complaints about Postbank by early September, a person with direct knowledge of the matter said.

Persons: Yves Herman, VZBZ, Ramona Pop, BaFin, Sewing, Tom Sims, Rod Nickel Organizations: Deutsche Bank, REUTERS, Companies Deutsche Bank, FRANKFURT, Deutsche, Thomson Locations: Brussels, Belgium, Germany's, Postbank

☆ Three Listed Chinese Firms Used Endangered Animal Parts as Ingredients Report
▼ + stars: | 2023-10-22 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

In a report published Monday, the London-based Environmental Investigation Agency urged global investors in the three firms - Beijing Tong Ren Tang group, Tianjin Pharmaceutical group and Jilin Aodong Pharmaceutical Group - to divest their stakes. The group said it focused on the pharmaceutical companies because they are publicly listed, and display products that include leopard or pangolin parts on their websites. Beijing Tong Ren Tang and Tianjin Pharmaceutical group did not respond to several emails and calls from Reuters asking for comment. Jilin Aodong Pharmaceutical Group could not be reached for comment. The environmental group said Deutsche Bank, HSBC Holdings, Citigroup and BlackRock did not respond to its queries.

Persons: Andrew Silver, Selena Li SHANGHAI, Beijing Tong Ren Tang, Avinash Basker, Wells, China's, Selena Li, Miyoung Kim, Miral Organizations: Reuters, UBS, HSBC, Environmental Investigation Agency, Tianjin Pharmaceutical, Jilin Aodong Pharmaceutical, TCM, Deutsche Bank, HSBC Holdings, Citigroup, Co, HSBC Global Asset Management Canada, Royal Bank of Canada, BlackRock, Citigroup ， Deutsche Bank, Medical Products Administration, Protection Locations: HONG KONG, London, Beijing, Tianjin, Jilin, BlackRock, Shanghai, Hong Kong

In a report published Monday, the London-based Environmental Investigation Agency urged global investors in the three firms - Beijing Tong Ren Tang group (600085.SS), Tianjin Pharmaceutical group (600329.SS) and Jilin Aodong Pharmaceutical Group (000623.SZ) - to divest their stakes. The group said it focused on the pharmaceutical companies because they are publicly listed, and display products that include leopard or pangolin parts on their websites. Beijing Tong Ren Tang and Tianjin Pharmaceutical group did not respond to several emails and calls from Reuters asking for comment. Jilin Aodong Pharmaceutical Group could not be reached for comment. The environmental group said Deutsche Bank, HSBC Holdings, Citigroup and BlackRock did not respond to its queries.

Persons: pangolin, Seun, Beijing Tong Ren Tang, Avinash Basker, Wells, China's, Andrew Silver, Selena Li, Miyoung Kim Organizations: REUTERS, Rights, UBS, HSBC, Environmental Investigation Agency, Tianjin Pharmaceutical, Jilin Aodong Pharmaceutical, TCM, Deutsche Bank, HSBC Holdings, Citigroup, BlackRock, & Co, HSBC Global Asset Management Canada, Royal Bank of Canada, Citigroup ， Deutsche Bank, Reuters, Medical Products Administration, Protection, Thomson Locations: Lagos, Nigeria, Rights SHANGHAI, HONG KONG, London, Beijing, Tianjin, Jilin, Shanghai, Hong Kong

☆ US judge approves Deutsche Bank $75 million settlement with Epstein accusers
▼ + stars: | 2023-10-20 | by ( Luc Cohen | ) www.reuters.com time to read: +2 min

NEW YORK (Reuters) -Deutsche Bank on Friday won final approval from a U.S. judge for a $75 million settlement it reached with victims of Jeffrey Epstein who had accused the German company of facilitating the late financier’s alleged sex trafficking. FILE PHOTO: The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. Epstein had been a Deutsche Bank client from 2013 to 2018, after being a JPMorgan Chase client for 15 years. Deutsche Bank has said it made an error in taking on Epstein as a client. Rakoff granted preliminary approval to New York-based financial services company JPMorgan’s $290 million settlement over similar claims in June.

Persons: Jeffrey Epstein, Tyrone Siu, Jed Rakoff, ” Rakoff, Epstein, Jane Doe, David Boies, Rakoff Organizations: YORK, Deutsche Bank, Friday, Deutsche, REUTERS, U.S, JPMorgan Chase, JPMorgan, U.S . Virgin Locations: U.S, Hong Kong, China, Manhattan, York, New York

☆ Here are Friday's biggest analyst calls: Nvida, Amazon, SolarEdge, Sunrun, IBM, Crocs, Meta, Disney & more
▼ + stars: | 2023-10-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Meta as buy Bank of America said it's bullish heading into earnings next week. UBS upgrades Merck to buy from neutral UBS said Merck has an "undemanding" valuation and robust pipeline. UBS reiterates Ralph Lauren as buy UBS said the stock is best positioned for AI. UBS reiterates McDonald's as buy UBS said the stock remains attractively valued. Bank of America reiterates IBM as buy Bank of America said it's standing by its buy rating heading into earnings next week.

Persons: JPMorgan, Jefferies, Goldman Sachs, Goldman, it's, Merck, Stephens, Ralph Lauren, McDonald's, Cognizant, TSMC, Deutsch, Redburn, Raymond James Organizations: JPMorgan, Nvidia, Disney, Bank of America, Meta, UBS, Merck, Deutsche Bank, Union Pacific, Deutsche, IBM, Citi, Taiwan Semiconductor, Management, Deutsche Bank downgrades, Microsoft, Brands, Mattel, Disney Princess, of America Locations: China

☆ Quash my subpoena, Ivanka Trump tells NY judge, in asking not to testify against her father.
▼ + stars: | 2023-10-20 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

Ivanka Trump has been subpoenaed to testify in her dad's ongoing civil fraud trial in New York. AdvertisementAdvertisementIvanka Trump is fighting hard against being forced to testify against her father and brothers in the ongoing Trump civil fraud trial in New York. The objection, in court papers filed late Thursday, calls the New York Attorney General's Office subpoena overly broad. It also accuses the AG's office of botching how it served Ivanka Trump with her subpoena, alleging a technical foul her lawyer says should invalidate her obligation to testify. James alleges that Trump and his company used fraudulently exaggerated net-worth statements in winning favorable interest rates and other benefits from lenders, particularly Deutsche Bank, for which Ivanka Trump was her father's primary point-woman.

Persons: Ivanka Trump, —, Trump, Bennet J, Moskowitz, Letitia James, Donald Trump , Jr, Eric Trump, Ivanka, James Organizations: NY, Service, New York, Trump Organization, Trump, Post Office, Trump International Hotel, Tower, Trump National Doral, Deutsche Bank Locations: New York, Washington, Washington , DC, Chicago, Miami

☆ Stocks making the biggest premarket moves: SolarEdge, Intuitive Surgical, Knight-Swift and more
▼ + stars: | 2023-10-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: SolarEdge Technologies — The solar stock tumbled nearly 29% after the company lowered its third-quarter guidance post market Thursday. Revenue came in at $1.74 billion, versus the $1.77 billion expected from analysts polled by LSEG. Net interest also fell short at $1.29 billion, versus the $1.32 billion expected. Analysts surveyed by LSEG expected 36 cents per share and $1.89 billion of revenue. Analysts polled by LSEG expected a profit of $2.94 per share on revenue of $15.36 billion.

Persons: SolarEdge, Zvi Lando, Sunnova, Swift, LSEG, David Jackson, —, Jesse Pound Organizations: Technologies, Deutsche Bank, Enphase Energy, Schlumberger, Revenue, LSEG, StreetAccount, American Express Locations: SolarEdge

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