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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Energy (.SPNY) was the top S&P 500 sector gainer, up 1.1%, as crude prices firmed near the $95-per-barrel mark on tight supply. Chipmaker Micron Technology (MU.O) rose 1.3%, following Friday's rout, after Deutsche Bank upgraded its stock rating to "buy" from "hold". Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE and by a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and 11 new lows, while the Nasdaq recorded 24 new highs and 172 new lows.

Persons: Brendan McDermid, Bernstein, Piper Sandler, Paul Nolte, Goldman Sachs, Janus Henderson, Wells, MoffettNathanson, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Holdings, Micron, L3Harris, Dow, Nasdaq, Energy, VF, Microsoft, U.S, Treasury, Murphy, Sylvest Wealth Management, Traders, Morgan Asset Management, Janus Henderson Investors, Arm Holdings, Dow Jones, Chipmaker Micron Technology, Deutsche Bank, L3Harris Technologies, PayPal Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ China central bank, FX regulator meet foreign firms in capital drive
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 18 (Reuters) - China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery. China will improve its policies, and create a market-oriented and international-level business climate, PBOC Governor Pan Gongsheng was quoted as saying in the statement. China has sought to court foreign capital as its economic recovery from the COVID-19 pandemic slows in the face of tepid overseas demand and property weakness. Actualised foreign direct investment into China fell 5.1% year-on year to 847.2 billion yuan ($116 billion) in the first eight months of 2023, the commerce ministry said on Friday.

Persons: Jason Lee, Morgan Stanley, Pan Gongsheng, Pan, Ellen Zhang, Ethan Wang, Bernard Orr, Louise Heavens, Alexander Smith Organizations: People's Bank of China, REUTERS, Rights, HSBC, Deutsche Bank, Council, Thomson Locations: Beijing, China, Rights BEIJING

A slew of recent hotter-than-expected economic data has eased recession concerns without raising fears of a September rate hike. "Further rate hikes would risk sending the economy into a hard landing," said Thomas Simons, U.S. economist at Jefferies. "Instead, the Fed can look to a strategy of maintaining current policy rates for a long time as the best way to administer restrictive monetary policy to the economy." ET, Dow e-minis were up 31 points, or 0.09%, S&P 500 e-minis were up 5.25 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.15%. Asset management firm Blackstone Inc (BX.N) and vacation rentals platform Airbnb (ABNB.O), which are set to join the S&P 500 before the bell on Monday, were down 0.5% and 0.1%, respectively.

Persons: Brendan McDermid, Blackstone, Thomas Simons, Goldman Sachs, Janus Henderson, Wells, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Micron, Deutsche Bank, Airbnb, Dow, Nasdaq, Federal Reserve, Traders, Jefferies, Morgan Asset Management, Janus Henderson Investors, Bank of England, Bank of, Dow e, Micron Technology, Blackstone Inc, L3Harris Technologies, Thomson Locations: New York City, U.S, Bank of Japan, Bengaluru

☆ Buy Micron stock as a chip downcycle ends and stronger pricing emerges, Deutsche Bank says
▼ + stars: | 2023-09-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Micron could be on the verge of gaining stronger pricing power, according to Deutsche Bank. The firm upgraded Micron stock to buy from hold on Sunday, and upgraded its target price to $85 from $65. Stock in the memory and storage solutions company has soared nearly 40% from the start of 2023. MU YTD mountain Micron stock. The analyst added that a previous cautious stance on Micron underpinned by excess inventory has largely abated, and Micron is now seeing stronger demand and pricing power for chips like the HBM DDR5 line of memory chips.

Persons: Sidney Ho, Ho, — CNBC's Michael Bloom Organizations: Micron, Deutsche Bank, MU, Wall, MIcron Locations: Stock

☆ Major central banks are on the brink of peak rates — but the inflation battle might not be over
▼ + stars: | 2023-09-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, Sept. 14, 2023. The ECB raised interest rates again, acting for the 10th consecutive time to choke inflation out of the euro zone's increasingly feeble economy. The European Central Bank last week signaled that its Governing Council feels rates may have got there. Federal ReserveFed Chair Jerome Powell made clear last month that further hikes were on the table, and the central bank is deeply concerned about inflation experiencing a fresh acceleration if financial conditions ease. The consumer price index rose at its fastest monthly rate this year in August, mainly driven by energy prices, and was 3.7% year-on-year.

Persons: Christine Lagarde, Berenberg's Holger Schmieding, Raphael Thuin, Thuin, Jerome Powell, J . Safra Sarasin Organizations: European Central Bank, ECB, Bloomberg, Getty, Deutsche Bank, Tikehau, Federal, U.S . Federal, J ., Fed, Markets, Reuters, Bank of England Locations: Frankfurt, Germany, Europe, U.S

☆ Japan's yen in spotlight ahead of 'live' BOJ meeting
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +3 min

In a week packed with central bank meetings, decisions are also due from the U.S. Federal Reserve on Wednesday and Bank of England on Thursday. The yen was flat versus the greenback at 147.82 per dollar with markets in Japan closed for a national holiday. Carol Kong, economist and currency strategist at Commonwealth Bank of Australia, said she expects the yen to be volatile leading up to the policy meeting. "So that means dollar yen can track higher, particularly if Governor Ueda sounds dovish and dashes hopes of policy tightening at the upcoming meeting," she said. The European Central Bank raised interest rates to 4% last week but said this hike could be its last.

Persons: Kazuo Ueda, Carol Kong, Kong, Ueda, Sterling Organizations: U.S ., The, of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, European Central Bank, Japan, . U.S, Treasury, Deutsche Bank Research, Brent, Saudi Locations: Asia, Japan, ., U.S, Ukraine

☆ Stocks making the biggest moves premarket: DoorDash, Arm, PayPal and more
▼ + stars: | 2023-09-18 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in premarket trading. DoorDash — Shares added nearly 2% after being upgraded by Mizuho Securities to buy from neutral on Sunday. Micron Technology — The stock gained about 1.6% premarket after Deutsche Bank upgraded the memory and storage solutions company to buy from hold on Sunday, and also raised its target price. Arm Holdings — Shares of the semiconductor company fell 3.7% in premarket trading as the newly public Arm tries to find its level in the market. Bernstein initiated coverage on Monday with an underperform rating, saying it was too early to say Arm will be an AI winner.

Persons: MoffettNathanson, PayPal's, Alex Chriss, Bernstein, —, Macheel, Jesse Pound, Michelle Fox Theobald Organizations: PayPal, Mizuho Securities, Micron Technology, Deutsche Bank

☆ Here are Monday's biggest analyst calls: Arm, Carvana, Disney, Apple, Tesla, Skechers, Netflix & more
▼ + stars: | 2023-09-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Piper Sandler upgrades Skechers to overweight from neutral Piper said in its upgrade of the stock that it likes its balance sheet. Goldman Sachs reiterates Tesla as neutral Goldman cut its estimates on the stock and says it sees pricing heading lower. Mizuho upgrades DoorDash to buy from neutral Mizuho said in its upgrade of DoorDash that it's deserving of a re-rating. Wedbush upgrades Carvana to neutral from underperform Wedbush said in its upgrade of the stock that it sees profitability upside. Raymond James initiates Disney as outperform Raymond James said in its initiation of Disney that the stock is compelling.

Persons: TD Cowen, TENB, Piper Sandler, Piper, Goldman Sachs, Tesla, Goldman, Wells, Wedbush, Evercore, Raymond James, Ralph Lauren, Guggenheim, Morgan Stanley, Atkins, Bernstein, ASGN, underperform Bernstein, it's, YoY Organizations: Tenable Holdings, TAM, Tesla, Apple, Netflix, Northland, Mizuho, HSBC, Deutsche Bank, Micron, Deutsche, Barclays, Alliant Energy, EV, UBS, BioMarin Pharmaceutical, Iridium, NASDAQ, Disney, Bank of America, of America, Nvidia, Nike, NKE's 1Q, PayPal, Moffett Locations: Europe, Wisconsin, Iowa, US, Swedish, 2Q23

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON/DUBLIN, Sept 18 (Reuters) - Societe Generale's (SOGN.PA) much-hyped new strategy plans were given a thumbs down by investors on Monday, underscoring uncertainty over European banks as they face a brittle economy. "There are more questions about the future and the economy," Legras said, adding that transformative mergers between banks, which investors have waited for in vain, remained unlikely. Reuters GraphicsThat dampens the prospects for Europe's banks, whose valuations are low and static, said one adviser who works with top executives from the region's lenders, adding that investors struggle to see much promise for the sector. European banks' modest earning power has dampened investor appetite for their shares, which often trade at just a fraction of book value - the sum of their assets. While in the United States, JP Morgan and Morgan Stanley are valued at around 1.5 times book value, Germany's Deutsche Bank, Dutch lender ABN Amro, France's Credit Agricole and Britain's Standard Chartered are valued at just half book value or less.

Persons: Gonzalo Fuentes, Jerome Legras, Legras, Slawomir Krupa, Krupa, Goldman Sachs, JP Morgan, Frederic Rozier, Morgan Stanley, Karel Lannoo, Elisa Martinuzzi, John O'Donnell, Alexander Smith Organizations: Societe Generale, La Defense, REUTERS, Reuters, European Central Bank, European Union, Commission, Deutsche Bank, ABN Amro, France's Credit, Thomson Locations: La, Paris, France, DUBLIN, France's, Europe, United States, Germany, Mirabaud, U.S, Brussels

☆ This chipmaker 'can be a leader' that sparks gains in other semiconductor stocks, Cramer says
▼ + stars: | 2023-09-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

Micron Technology (MU) is a stock to watch within the semiconductor industry, CNBC's Jim Cramer said Monday. Cramer's comments Monday came after Deutsche Bank analysts upgraded Micron shares to buy, from hold. Micron stock climbed modestly in Monday trading. Cramer suggested that if the conditions Deutsche Bank analysts describe are correct, "this group is a leadership group." The Club just did an in-depth report on all 11 sectors of the market, the industries within those sectors, and where the 35 stocks owned by Cramer's Trust fit in.

Persons: CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Micron Technology, AMD, Micro Devices, Micron, Deutsche Bank, Nvidia, Broadcom, Cramer's Charitable Trust, CNBC, Club, Information Technology, Cramer's Trust

☆ Ford and GM workers already make $20 more per hour than Tesla employees. Their union's demands would double that gap.
▼ + stars: | 2023-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Detroit executives have Tesla in mind as they reject the UAW's big demands. The labor cost gap between the Detroit 3 and Tesla is already staggering. Tesla is the "clear winner" in the UAW strike, one analyst said. The UAW launched a first wave of targeted strikes last week after months of negotiations for new labor contracts with Ford, GM, and Jeep-owner Stellantis. Tesla spends about $45 an hour on labor (this cost combines hourly wages and benefits), while Ford, GM, and Stellantis are currently spending about $66 an hour on their labor, according to industry analysts.

Persons: Tesla, Stellantis, Wells, Elon, Dan Ives Organizations: Detroit, UAW, Service, United Auto Workers, Ford, GM, Deutsche Bank, Toyota, Honda, Tesla, Thrones Locations: Wall, Silicon, Detroit, Michigan , Ohio, Missouri, Wells Fargo

☆ Stocks making the biggest moves midday: Marathon Petroleum, Tesla, Moderna and more
▼ + stars: | 2023-09-18 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Moderna — The pharmaceutical company lost more than 8% Monday, making it the biggest decliner in the S&P 500. Enphase Energy — Shares lost 2.6% after Citi lowered its price target on shares to $170 from $209 while keeping its buy rating. The new price target implies 41% upside from Friday's close. Analyst Chris Quintero highlighted the growth opportunity for the company following a strong investment cycle. The investment bank bumped up the stock's price target to $40 from $37, citing Simply Good Foods' diverse product offering and shifting consumer preferences to healthier choices as catalysts.

Persons: Bernstein, Needham, Noubar Afeyan, Moderna's, Goldman Sachs, Mark Delaney, PayP, Ralph Lauren —, Ralph Lauren's, TD Cowen, Cowen, Tenable, Morgan Stanley, Chris Quintero, Raymond James, ASGN, Wells Fargo, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: — Petroleum refiners Valero Energy, Marathon Petroleum, West Texas Intermediate, Brent, Energy, Arm, Nasdaq, Securities and Exchange Commission, Pharmaceutical, Pfizer, U.S, Tesla, PayPal, MoffetNathanson, Guggenheim, Enphase Energy, Citi, Tenable Holdings, Mizuho, Aldi, Lowe's, Micron Technology, Deutsche Bank, Paramount, Disney, Warner Bros Discovery, Iridium Communications, Iridium Locations: Valero Houston, Houston , Texas, U.S

☆ These are the 11 sectors that comprise the S&P 500 — and the stocks we own in each
▼ + stars: | 2023-09-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +28 min

.GSPF YTD mountain S & P 500 Financials Sector YTD performance Club stocks in the Financials sector: Morgan Stanley ( MS): The bank's services include investment banking, wealth management and investment management. Communication Services Sector market weight: 8.85% Market cap: $3.3 trillion YTD performance: up 44.5% Industries: Diversified telecommunication services; entertainment; interactive media & services; media; wireless telecommunication services. .GSPTS YTD mountain S & P 500 Communication Services Sector YTD performance Club stocks in the Communication Services sector: Walt Disney (DIS): The entertainment giant reported another mixed quarter last month, even against low expectations. Real estate Sector market weight: 2.44% Market cap: $909 billion YTD performance: up 0.9% Industries: Equity real estate investment trusts; real estate management & development. .SPLRCR YTD mountain S & P 500 Real Estate Sector YTD performance While we don't own any real estate stocks, investors have historically invested in the sector for its reliable cash flow from income-generating properties.

Persons: Jim Cramer's, Jim, Salesforce, reenergized, Marc Benioff, Wolfe, Palo, Eli Lilly, Cantor Fitzgerald, Bausch, bioprocessing, Morgan Stanley, Morgan Stanley's, Eaton Vance, Wells Fargo, Wells, TJX, Wynn, Locker, We've, Mary Dillon, Walt Disney, Bob Iger's, Emerson, Davidson, Vimal Kapur, Stanley Black, Decker, Estee Lauder, Gillette —, Elliott, Coterra, Linde, Jim Cramer, Mandel Ngan Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Technology Sector, Industries, Communications, Technology, Information Technology, Apple, Wedbush Securities, Microsoft, UBS, Deutsche Bank, Nvidia, Broadcom, VMware, Palo Alto Networks, Wolfe Research, Palo Alto, Oracle, Mizuho, Amazon Web Services, Google, Health Care, Biotechnology, Health, Bausch Health, Leerink Partners, GE Healthcare Technologies, General Electric, GE, Financials, Bank of America, United Auto Workers, Detroit, Ford, Starbucks, TJX, Marshalls, Wynn Resorts, WYNN, Communication Services, Communication, Hollywood, Charter Communications, Disney, JMP Securities, Facebook, Industrials, Aerospace, Emerson, Caterpillar, Honeywell, Consumer Staples Sector, Consumer, Consumer Staples, Costco Wholesale, Procter & Gamble, Gillette, Constellation Brands, Corona, Modelo, Pacifico, Elliott Management, Energy Sector, Energy, Coterra Energy, Natural Resources, West Texas, Utilities Sector, Electric, Companies, Sempra Energy, Materials, Chemicals, Linde, LIN, DuPont, Sector, Equity, Real, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: U.S, FactSet, bioprocessing, Wells Fargo, China, Maxx, Macao, Asia, Pacifico —, California, Texas

☆ Explainer: UAW strikes target Detroit Three automakers
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 16 (Reuters) - The United Auto Workers (UAW) union on Friday launched strikes at three U.S. auto plants after failing to reach an agreement over new contracts, the first-ever simultaneous labor action against the Detroit Three automakers. Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers in past years had gone on until the strike deadline and beyond. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike. The walkout on Friday was smaller than some analysts expected, with only three auto plants in Michigan, Ohio and Missouri targeted.

Persons: Andrew Kelly, Shawn Fain, Stellantis, Fain, Biden, Tesla, GM's, Nathan Gomes, Paul Simao, Sriraj Kalluvila, Diane Craft Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three automakers, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, FROM, GM, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Ford Bronco, Chevrolet, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Bengaluru, Washington

☆ The average monthly payment for a new car was $733 in the second quarter of 2023. That could rise if auto workers strike long enough.
▼ + stars: | 2023-09-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

The United Auto Workers went on strike on Friday after the union's four-year contract expired. About 13,000 United Auto Workers members went on strike on Friday after the union's four-year contract expired. An analysis by Edmunds.com showed that the average monthly new-car payments for the second quarter of 2023 reached $733. Now, experts say car prices could continue to rise — particularly from vehicles made by the Big Three — if there's a prolonged strike. Spokespersons for UAW, Ford, General Motors, and Stellantis did not return a request for comment sent outside of working hours.

Persons: Shawn Fain, Edmunds.com, hobbling, Ford, Stellantis, Jim Farley, Fain Organizations: United Auto Workers, Service, Detroit's, Motors, Ford, Chrysler, Jeep, UAW, General Motors, Associated Press, Detroit automakers, Deutsche Bank, The New York Times, CNBC Locations: Wall, Silicon

What they likely won't be changing: Keeping one more rate hike on the table. Given that rosier picture, Luzzetti - like most analysts polled by Reuters - says Fed policymakers probably won't lift the policy rate any further. Many other economists also expect Fed policymakers to signal fewer rate cuts next year. That's only a touch higher than the 3.2% rate the Fed had expected to see at the end of this year. Reuters GraphicsIf progress towards the Fed's 2% goal slows next year though, as many economists forecast, that may mean fewer interest rate cuts next year.

Persons: Sarah Silbiger, won't, Matthew Luzzetti, Luzzetti, Tim Duy, Duy, That's, Loretta Mester, Kathy Bostjancic, Ann Saphir, Dan Burns, Andrea Ricci Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal Reserve, Deutsche Bank, Reuters, Reuters Graphics Reuters, U.S, Fed, Cleveland Fed, Thomson Locations: Washington ,, U.S, China

☆ Oracle buddies up with Microsoft. Plus our take on Salesforce and Meta news
▼ + stars: | 2023-09-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

A new partnership between Microsoft (MSFT) and Oracle (ORCL) has the potential to benefit both Club holdings in the competitive cloud-computing landscape. Oracle, a database pioneer with more than 40 years of history operating in the market, had existing offerings geared toward Azure customers . Wall Street analysts were generally upbeat on the implications for Microsoft and Oracle, which joined the Club's portfolio a month ago. Analysts at Bernstein downplayed concerns that the deeper partnership with Microsoft will hurt Oracle's fast-growing cloud-computing service, known as Oracle Cloud Infrastructure. "This partnership also lowers the potential risk of Microsoft trying to target Oracle database customers to move off Oracle.

Persons: —, Satya Nadella, Larry Ellison, Bernstein, prem workloads, Ellison, Oracle's, Salesforce, Brian Millham, Marc Benioff, Will Cathcart, there's, Mark Zuckerberg, Jim Cramer, WhatsApp, Susan Li, Jim Cramer's, Jim, Justin Sullivan Organizations: Microsoft, Oracle, Oracle Autonomous Database, Wall Street, Barclays, Deutsche Bank, Web Services, Oracle Cloud Infrastructure, Companies, Bloomberg, Financial Times, Meta Platforms, Meta, Facebook, CNBC Locations: Salesforce, San Francisco, Redwood Shores , California

A person carries a flag with the patch from the United Auto Workers (UAW) labor union during a May Day rally for media workers held by The NewsGuild of New York on International Workers' Day in Manhattan, New York City, New York, U.S., May 1, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsDETROIT, Sept 15 (Reuters) - The United Auto Workers union launched simultaneous strikes at three Detroit Three factories early on Friday, kicking off the most ambitious U.S. industrial labor action in decades. Fain's decision to go with targeted walkouts could limit the cost to the union of strike pay. UAW President Fain has taken an unorthodox approach to the negotiations, bargaining with all three Detroit automakers simultaneously. But the Detroit automakers build some of the U.S. market's best-selling vehicles, such as the Ford F-150 and Chevrolet Silverado pickup trucks and Jeep SUVs.

Persons: Andrew Kelly, Shawn Fain, Fain, Stellantis, Sam Fiorani, Ford, Gerald Johnson, Jim Farley, Joe Biden, Biden, Biden's, Dan Ives, market's, Joseph White, David Shepardson, Peter Henderson, Mehr Bedi, Jamie Freed Organizations: United Auto Workers, UAW, International Workers, REUTERS, Rights, Detroit, Ford Bronco, Chevrolet, General Motors, Ford, Chrysler, Cox Automotive, Forecast Solutions, Bronco, Tesla, GM, Toyota, Honda, Mercedes, Chevrolet Silverado, Deutsche Bank, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Chevrolet Colorado, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio, Toledo, Detroit Three's U.S, United States, Detroit, Washington, San Francisco, Bengaluru

People walk past a logo of French bank Societe Generale in front of the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. The bank sees the business as non-core, having sold part of its operations in 2020, said the people, who spoke on condition of anonymity. But a transaction may not happen soon because difficult market conditions weigh on the unit's valuation, they said. Societe Generale Equipment Finance provides equipment leasing and financing solutions to manufacturers, dealers and vendors in sectors ranging from transport to industrials. Rather than naming non-core businesses, Krupa is more likely to outline the group's growth areas, said one person familiar with the bank's thinking.

Persons: Gonzalo Fuentes, Slawomir Krupa, Krupa, Italy's, SocGen, Pablo Mayo Cerqueiro, Mathieu Rosemain, Andres Gonzalez, Amy, Jo Crowley, Elisa Martinuzzi, Silvia Aloisi, Jane Merriman, David Evans Organizations: Societe Generale, La Defense, REUTERS, Finance, Reuters, Deutsche Bank, BNP, Societe Generale Equipment Finance, Basel Committee, Thomson Locations: La, Paris, France, PARIS, Basel

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, BJ's, Etsy, Carnival, Blackrock, FedEx & more
▼ + stars: | 2023-09-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Thursday: Bank of America downgrades J.M. "Our prior Buy rating was based on the view that SJM would focus on a more optimized portfolio of core brands, following several years of divestitures of low growth/margin assets. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock due to "AI innovation & potentially lower expenses." Bank of America reiterates Blackrock as buy Bank of America said the company is the "leading platform for investing & tech solutions." Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating heading into earnings next week.

Persons: Morgan Stanley, Wells, JPM, PENN, VIRT, William Blair, Jefferies, MET's, Semtech, Wolfe, TD Cowen, Redburn, BLK, Goldman Sachs, Goldman Organizations: Bank of America, Amazon, Nvidia, NVIDIA, JPMorgan, Apple, Wave7 Research, Deutsche Bank, Penn Deutsche, Penn, Citi, Google, BMO, Jefferies, MetLife, Susquehanna, Blackrock, FedEx

☆ Stocks making the biggest moves midday: Netflix, Etsy, HP, Visa and more
▼ + stars: | 2023-09-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Striking Writers Guild of America members walk the picket line in front of Netflix offices in Los Angeles, July 12, 2023. Check out the companies making headlines in midday trading:Visa — The credit card behemoth's stock was trading more than 2% lower after announcing plans to change its share structure. Netflix — The streaming giant's shares slipped roughly 2% in midday trading after Chief Financial Officer Spencer Neumann said the ongoing Hollywood writers' strike is bad for business. The movie theater chain said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. Etsy — The e-commerce retailer's stock rose nearly 3% after Wolfe Research upgraded Etsy to outperform from a peer perform rating, citing improving consumer spending and margins.

Persons: Semtech, Spencer Neumann, Neumann, Warren, Berkshire Hathaway, —, Samantha Subin, Pia Singh, Alex Harring Organizations: Guild of America, Netflix, Visa, FactSet, Penn Entertainment, Deutsche Bank, Penn, ESPN BET, AMC Entertainment, AMC, Wolfe Research, HP, Exxon Mobil, Chevron —, Exxon, Chevron Locations: Los Angeles, U.S, China

CFTC data show that funds and speculators are holding a chunky net short yen position worth around $8.2 billion. Contrast that with the euro position, and it is not difficult to envisage a potential narrowing of the gulf in the weeks and months ahead. Citi's U.S. economic surprises index has been positive since May and the euro zone index has been in negative territory since May. Euro zone interest rate traders reckon the ECB is done raising rates, and are now betting on around 70 bps of rate cuts next year. "Today's ECB policy update and stronger U.S. data for Q3 is further encouraging those expectations placing downward pressure on EUR/USD," MUFG's Lee Hardman wrote on Thursday.

Persons: Pedro Nunes, gunning, MUFG's Lee Hardman, Jamie McGeever, David Evans Organizations: Bank of, REUTERS, Rights, Central, ECB, U.S, HSBC, Futures, CFTC, Bank of Japan, Deutsche Bank, Reuters, Thomson Locations: Bank of Portugal, Carregado, Alenquer, Portugal, Rights ORLANDO , Florida, U.S

☆ Stocks making the biggest moves premarket: AMC, Etsy, First Solar and more
▼ + stars: | 2023-09-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AMC Entertainment — Shares of the movie theater chain jumped 5% in premarket trading after AMC said it had completed the equity offering it announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. In the second quarter, the company earned 11 cents a share, after adjustments, exceeding analysts' expectations of 2 cents per share, according to FactSet. Penn Entertainment — The sports betting stock climbed 3% in premarket trading following a short-term buy call from Deutsche Bank. The conglomerate sold about 5.5 million shares of HP, worth around $158 million.

Persons: Wolfe, Semtech, Warren Buffett's Berkshire Hathaway, Shawn Fain, Jim Farley, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: AMC, Wolfe Research, Penn Entertainment, Deutsche Bank, BMO Capital Markets, Exxon Mobil, Chevron, Brent, Occidental Petroleum, HP —, HP, Berkshire, General Motors, Ford —, United Auto Workers, Ford Locations: China, Devon, Omaha

Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Sept 14 (Reuters) - Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients' cryptocurrencies and tokenised assets, Taurus said in a statement on Thursday. The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenised versions of traditional financial assets, a Deutsche Bank spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paper back in 2020. Maley said Deutsche Bank is proceeding "cautiously and in line with the spirit and the letter of the regulations governing this asset class."

Persons: Dado Ruvic, Taurus, Crypto, Paul Maley, Maley, Elizabeth Howcroft, Christina Fincher Organizations: Deutsche Bank, REUTERS, Taurus, Standard Chartered, BNY Mellon, Societe Generale, Deutsche, Thomson Locations: Swiss, U.S

☆ This sports betting company is a good short-term buy, Deutsche Bank says
▼ + stars: | 2023-09-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

While Deutsche Bank is skeptical on the long-term story for Penn National Gaming , it is bullish on shares in the short-term. Analyst Carlo Santarelli put a catalyst call buy, or short-term buy rating, on the sports betting company, which trades as PENN Entertainment. In August, the company signed a licensing deal with ESPN to rebrand its sportsbook to ESPN BET, slated to launch in November. Through the deal, Penn has the exclusive right to the ESPN Bet trademark in the U.S. for 10 years, with potential to be extended. An Investor Day in December, which is likely to focus on ESPN BET, will also highlight the brand's early traction, he added.

Persons: Carlo Santarelli, Santarelli, Penn, GGR, — CNBC's Michael Bloom Organizations: Deutsche Bank, Penn National Gaming, PENN Entertainment, ESPN, ESPN BET, ESPN Bet Locations: Wednesday's, U.S, Las Vegas

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