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Fabrizio Campelli, who oversees Deutsche's investment bank, said it had been looking to grow its business in Britain. Deutsche Bank shares rose as much as 2.5% in early trade before erasing gains. MOVING INAs part of the deal, 35 Deutsche Bank corporate finance employees will move in with more than 300 London-based Numis staff. As part of its strategy, Deutsche Bank - a leading bank in Germany with strong European roots - said earlier this week that it aims to accelerate "growth initiatives" including potential acquisition of portfolios and assets. Britain is the largest investment banking market in Europe and Numis is a diversified investment bank with a UK franchise.

☆ Here are Friday's biggest analyst calls: Amazon, Apple, Tesla, Royal Caribbean, Intel, Hasbro & more
▼ + stars: | 2023-04-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Friday's biggest calls on Wall Street: Bank of America upgrades Hasbro to neutral from underperform Bank of America said it sees resilient demand for Hasbro . Goldman Sachs reiterates Amazon as buy Goldman said it's standing by the stock after its robust earnings report Thursday. " Benchmark upgrades Intel to buy from hold Benchmark said in its upgrade of Intel that the worst is already baked in. Bank of America upgrades Pilgrim's Pride to buy from neutral Bank of America said in its upgrade of the poultry company that the worst is behind it. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's still bullish on Apple shares heading into earnings next week.

☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
▼ + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com time to read: +8 min

"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.

☆ Deutsche Bank Reports Higher Profit in Tumultuous Quarter
▼ + stars: | 2023-04-27 | by ( Patricia Kowsmann | ) www.wsj.com time to read: 1 min

A Deutsche Bank branch in Berlin in March. Photo: Michael Kuenne/Zuma PressDeutsche Bank AG said its business held up well during March’s banking turmoil, with first-quarter profit rising 8% as it continued to benefit from rising interest rates. The performance of its bread-and-butter lending and deposit-taking business offset a weaker performance for its investment-banking operation, which continued to be hit by a drought in deal-making and capital raising by clients.

☆ Resolving Credit Suisse: an alternative history
▼ + stars: | 2023-04-27 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

Reuters GraphicsThe market shock will be all the more extreme because Credit Suisse doesn’t obviously need more capital. It seems perverse to put taxpayer money on the line while leaving the Credit Suisse bonds untouched. Of the 30 global lenders classed as systemically important by the Financial Stability Board, Credit Suisse is the third-smallest by total assets. It also enables the Swiss National Bank to offer Credit Suisse an open-ended credit line, hopefully ending the bank run. Credit Suisse is suffering from a crisis of confidence brought on by years of mismanagement, rather than a system-wide meltdown.

☆ How to trade Deutsche Bank and Barclays quarterly results based on history
▼ + stars: | 2023-04-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Two of Europe's largest banks — Britain's Barclays and Germany's Deutsche Bank — are set to announce their first-quarter earnings later on Thursday. In such a scenario, CNBC Pro's analysis found that shares, on average, outperformed the FTSE 100 index by 2.7 percentage points on the day. The stock also beat the benchmark by 2.5 percentage points over a week since the results, and 13.9 percentage points a month out. BARC-GB 1Y line Meanwhile, Deutsche Bank shares have more often than not performed poorly compared to the DAX index , according to CNBC Pro's analysis. Deutsche Bank shares were trading at 9.52 euros per share ($11.87) on Wednesday afternoon.

☆ Stubborn Germans leave EU budget reform in a fix
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, April 27 (Reuters Breakingviews) - The European Commission’s efforts to appease fiscal hardliners have not yet opened doors for a badly needed reform of the bloc’s fiscal rules. Specifically, Germany does not like a proposal to allow the Commission new flexibility to negotiate budget targets with European Union countries. Although current debt rules have never been enforced – because required cuts would be too punitive to work – Berlin likes their semblance of objectivity. But in the absence of a new system, it will have to go through the motions for 2024, and possibly beyond. Even though that’s less stringent than the current system, France already says it’s too rigid, and Italy wants more exceptions for green investment.

☆ DWS Q1 revenue hit by lower management fees
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - DWS (DWSG.DE) on Thursday posted a fall in adjusted revenue in the first quarter of 2023 as Deutsche Bank's (DBKGn.DE) asset management subsidiary cited lower management fees predominantly driven by declining markets in 2022. The company recorded adjusted revenue of 610 million euros ($674.11 million) for the first three months of the year, down 12% year on year. DWS assets under management rose to 841 billion euros during the first quarter, helped by market developments and net inflows. DWS parent company Deutsche Bank posted a better-than-expected 9% rise in first-quarter profit as income from higher interest rates offset a slump in revenues at the investment bank. ($1 = 0.9049 euros)Reporting by Tristan Veyet in Gdansk, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

That means portfolio managers are having to factor a stronger yen into global stock selection in way they have not for years, with some even anticipating mergers and acquisitions as the Japanese market revs up. "The trigger for the revaluation of the Japanese markets is higher rates and then a stronger yen. Japan's insurers and pension funds alone hold $1.84 trillion in foreign assets, Deutsche Bank calculates, greater than the size of South Korea's economy. "Policy normalisation could turn back the clock for Japanese investors," Deutsche Bank strategists said in a note. Carmignac, like many global investors, has maintained an underweight position towards Japanese stocks but, Leroux said, it was looking to raise this to neutral.

☆ Eli Lilly races rising obesity expectations
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 27 (Reuters Breakingviews) - The race is on between Mounjaro’s growth and investors’ burgeoning hopes. The drug made by Eli Lilly (LLY.N), which was approved in May to treat diabetes, reaped an astonishing $569 million of revenue in the first quarter less than a year after it was approved for sale. The results encouraged Lilly to raise its annual profit guidance by 3.5%. The pharmaceutical firm also unveiled alongside its earnings release on Thursday that the drug had its second successful large clinical trial against obesity. With another successful trial under Lilly’s belt, Mounjaro is likely to receive an official green light from the U.S. Food and Drug Administration for use in obesity, and more insurers will subsidize the cost.

☆ European markets head for lower open as nervousness over banking sector continues
▼ + stars: | 2023-04-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a lower open Thursday, with concerns over the global banking sector still casting a shadow over investor sentiment. In Wednesday's trading session in the U.S., shares of regional bank First Republic tumbled almost 30% as investors continued to be concerned over the bank's health. That stock move came after similar plunges in the previous trading session. An initial reading of U.S. gross domestic product for the first quarter will be released later today. In Asia-Pacific, meanwhile, markets were trading mixed on Thursday as investors focused on the Bank of Japan's first policy meeting led by new governor Kazuo Ueda.

☆ Deutsche Bank logs 11th straight quarterly profit, reveals job cuts
▼ + stars: | 2023-04-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. The Thursday report nevertheless showed deposits fell over the course of the quarter to 592 billion euros from 621.5 billion euros at the end of 2022. watch nowDeutsche's corporate bank net revenues came in at 2 billion for the quarter, up 35% year-on-year and the highest quarterly figure since the launch of its transformation program. However, the bank also flagged job cuts for non-client facing staff and reported a sharper-than-expected 19% year-on-year fall in investment bank revenues year-on-year. He suggested that, in scrutinizing Deutsche Bank, market participants saw a strong and profitable business model, stable balance sheet and deposit base, a "very moderate" and "well underwritten" commercial real estate book and "no near-term financing needs."

☆ Stock Market Today: Dow Futures Gain; Meta Stock Set to Rally
▼ + stars: | 2023-04-27 | by ( ) www.wsj.com time to read: 1 min

Index futures are rising, with Nasdaq contracts out front. An earnings beat from Meta Platforms is likely to send stock in Facebook's parent company surging when the market opens. Meanwhile, there's little sign of lasting damage from March's banking tumult in earnings out Thursday from two European heavyweights, Barclays and Deutsche Bank. What we're reading:

☆ US economy rides a shopping cart to nowhere
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 27 (Reuters Breakingviews) - The American consumer held the U.S. economy afloat in the first quarter, driving an annualized GDP growth rate of 1.1% - less than expected though still enough to avoid recession. But the signs that shoppers are getting tired are already in plain sight. Consumption added 2.5 percentage points to GDP growth, which is close to levels seen in the past. Spending by American households counts for 70% of GDP – meaning shoppers effectively decide whether the U.S. economy is headed for recession or recovery. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Barclays and Deutsche profits defy banking jitters
▼ + stars: | 2023-04-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Deutsche Bank (DB) gained 2.6%. Deutsche Bank’s shares plunged as much as 14.5% during the March 24 trading session. Deutsche Bank’s profit reached its highest in a decade, vindicating the once-struggling lender’s turnaround plan, launched in 2019. “In the first quarter, we again proved the strength and resilience of Deutsche Bank in challenging conditions,” chief financial officer James von Moltke said in a statement. Barclays and Deutsche Bank’s results contrast with the troubles at First Republic Bank in the United States.

☆ Morning Bid: Fresh spur from Meta and Europe's banks
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +5 min

Perhaps even more surprising, Europe's big banks are wowing the gallery too - showing limited, if any, fallout from the failure of ailing Credit Suisse at the end of the quarter. And so the glass appears half full again despite background tensions around regional U.S. banks and as wider markets brace for several weeks of a U.S. debt ceiling standoff. With Amazon reporting later, its stock rose another 2% ahead of the bell too. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade. The dollar was marginally weaker, with crude oil prices struggling to recover from their latest lunge lower this week.

Net profit attributable to shareholders was 1.158 billion euros ($1.28 billion). That compared with profit of 1.060 billion euros a year earlier, and was better than analysts' expectations for a profit drop to around 977 million euros. "We have worked hard to achieve this stability," Deutsche Bank Chief Executive Officer Christian Sewing told employees in a memo. Revenue at the investment bank unit fell 19% to 2.7 billion euros in the first quarter from a year earlier. The investment bank's revenue decrease was countered by gains at the corporate bank and retail bank, which saw 35% and 10% increases.

☆ Deutsche Bank shrugs off basket-case mantle
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

Some alighted on Deutsche Bank (DBKGn.DE), the erstwhile whipping boy of European banking. True, the bank’s total deposits fell by 29 billion euros, or roughly 5%, between Dec. 31 and March 31. In Banco Santander’s (SAN.MC) European business, customer deposits also fell roughly 5% over the same period. Meanwhile, three-quarters of corporate banking deposits either have a fixed term or are used as part of the customers’ operations, making them stickier. Deutsche, previously the basket-case of European banking, was always a likely target for investors hunting for the next weak link.

FRANKFURT, April 26 (Reuters) - Deutsche Bank (DBKGn.DE) is undertaking its biggest management shake-up since 2019, the German bank said on Wednesday as it announced the departure of Christiana Riley, who oversaw its U.S. operations. "It is time to focus the management board on the next phase of the bank's growth strategy, which is now more than ever about sustainable profitability, efficiency and effective controls," Wynaendts said. Riley was one of two women on Deutsche's 10-member board, which will now only consist of only nine people - eight men and one woman - in what Deutsche said would be a "leaner" team. Claudio de Sanctis, a Deutsche veteran who has overseen wealth management, will join the board to oversee the retail bank, Deutsche said. And Chief Financial Officer James von Moltke will take on oversight of asset management, which includes its DWS fund management business.

☆ Analysis: Debt ceiling worries bubble up in US stock options market
▼ + stars: | 2023-04-26 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

NEW YORK, April 26 (Reuters) - Worries over a debt ceiling showdown are creeping into U.S. options markets, as investors grow increasingly concerned that lawmakers will be unable to hammer out a deal in coming weeks, potentially sparking stock volatility as a key deadline nears. In the options market, however, worries are bubbling as some analysts warn the so-called X-date, after which the government is no longer able to pay all its bills, could come in the first half of June. U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government's debt ceiling - and the resulting default - would trigger an "economic catastrophe" that would send interest rates higher for years to come. AWKWARD TIMINGLegislative standoffs over debt limits this last decade have largely been resolved before they could ripple out into markets. "You are going to have all these fundamental pressures -- and then our friends in Washington aren't going to be able to agree on what to do with the debt ceiling," he said.

☆ Here are Wednesday's biggest analyst calls: Tesla, Coinbase, Apple, Microsoft, Alphabet, Roku & more
▼ + stars: | 2023-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Needham upgrades TransUnion to buy from hold Needham upgraded the stock after its earnings report Tuesday. Deutsche Bank reiterates Apple as buy Deutsche said it's standing by its buy rating heading into earnings next week. Bank of America downgrades Danaher to neutral from buy Bank of America downgraded the commercial products company after a "disappointing" earnings report. Bank of America reiterates General Motors as buy Bank of America said it's standing by its buy rating after the company's earnings on Tuesday. " Bank of America reiterates Roku as buy Bank of America said it's bullish heading into Roku earnings after the bell on Wednesday.

☆ Debt ceiling worries bubble up in US stock options market
▼ + stars: | 2023-04-26 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

☆ Short-sellers raise their stakes against these 2 European banks by billions since the SVB crisis
▼ + stars: | 2023-04-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Short-sellers significantly increased their bets against European banks Santander and ING amidst a turbulent month for the global banking sector. Madrid-headquartered Santander's stock saw the biggest surge in short interest among European banks since Mar. The table below shows 10 European banks with the largest increase in shorts between Mar. Meanwhile, France's BNP Paribas had attracted the largest short interest in dollar value among European banks, followed by Santander and ING. The below table lists the 10 European bank stocks with the largest short interest as of Apr.

☆ First Republic stock craters 49% after the bank reveals customers pulled out $100 billion of deposits last quarter
▼ + stars: | 2023-04-25 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

First Republic shares fell 49% Tuesday on the back of dire first-quarter earnings. The regional bank's customers pulled out more than $100 billion worth of deposits last quarter. First Republic plans to lay off around 25% of its workforce during the second quarter. Without that lifeline, First Republic's deposit outflows would have totaled $102 billion – which equates to around 41% of the customer deposits it held prior to the first quarter, according to Deutsche Bank. "With the closure of several banks in March, we experienced unprecedented deposit outflows," the San Francisco-based bank's CFO Neal Holland said after Monday's earnings release.

☆ Google's cloud business turns profitable for the first time on record
▼ + stars: | 2023-04-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Alphabet said Tuesday that Google's cloud business is profitable for the first time in the three years it's been reporting operating metrics for the division. The cloud business includes the Google Cloud Platform, which rents out cloud infrastructure and services that companies can use to build and run their own applications, as well as Google Workspace productivity software subscriptions. Amazon Web Services, the leader in cloud infrastructure, popularized the market in the mid-2000s and has been profitable every quarter since 2014. Alphabet started disclosing cloud revenue in 2020, and the following year began providing information on the scale of its operating losses. Last week Alphabet restated operating income for cloud and its other segments, resulting in lower cloud losses in 2021 and 2022.

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