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☆ Why the post-earnings Morgan Stanley sell-off is an overreaction
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Meanwhile, Club name Morgan Stanley (MS) also reported a quarterly beat , even as EPS fell 6% year-over-year, to $1.38. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, G, Morgan Stanley, It's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Israel . West Texas, Treasury, Club, Procter, Gamble, Nvidia, Citi Locations: Iran, Israel, U.S, China

☆ Working in Silicon Valley used to be fun. Now it's just another miserable corporate gig.
▼ + stars: | 2023-10-17 | by ( Aaron Terrazas | ) www.businessinsider.com time to read: +12 min

For the first time in a long time, tech workers are in a funk. This rare combination of generous compensation and a reasonable work-life balance kept tech workers happier than employees in other industries. Economy wide, there were on average 6.6 front-line workers per manager in 2018 and 2019, but post-pandemic, the ratio dropped to 6 to 1. It's possible that as tech companies have grown into more complex organizations, more management layers are necessary. Fundamentally, it's about listening to and elevating the voices of front-line employees.

Persons: —, Kristi Coulter, Aaron Terrazas Organizations: Linkedin, Tech, Wall Street, Federal Reserve, Microsoft, Amazon, California Bay, Austin , Texas —, Ford Motor Company, Intel Locations: Wall, California, California Bay Area, Austin , Texas, neckties

☆ ‘A scary situation’: As Wall Street assails Harvard, students worry about their futures
▼ + stars: | 2023-10-14 | by ( Melia Russell | Tim Paradis | ) www.businessinsider.com time to read: +8 min

Ackman, in his initial tweet about Harvard, said that "a number of CEOs" shared his desire to publicly out the Harvard students who condemned Israel. Other business leaders were quick to echo his calls, winning plaudits on social media. In a visit to Harvard, Insider spoke with a range of students about the backlash to the statement on Israel. It's ironic, of course, to accuse students of silencing dissent when Ackman and other business leaders are seeking to do exactly that. But now, some Harvard students fear that the backlash from the business community will have a chilling effect on student speech.

Persons: Bill Ackman, they've, Israel, Marc Rowan, Meyer Davidoff, Kalita, Eden Mendelsohn, what's, " Melia Russell, Tim Paradis Organizations: Harvard, Wall, Big Law, University of Pennsylvania, Invictus Pharmacy, LinkedIn, Birkoa Capital Management, Penn, Twitter Locations: Gaza, Silicon, Israel, Silicon Valley

☆ Down to the wire: It's time for the SEC to decide its next move in the bitcoin case
▼ + stars: | 2023-10-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Circuit's ruling that the agency was wrong to reject an application from Grayscale Investments to create a spot bitcoin ETF. Should they decide not to appeal, they will likely be forced to approve the Grayscale application to convert to a spot bitcoin ETF, and possibly to approve all other spot bitcoin applications as well. New rules on short sales also coming Separately, the SEC Commission will vote Friday to adopt two new rule proposals regarding short sales. Part of that act directed the SEC to promulgate rules that would provide more information on the loaning or borrowing of securities. The filing would be confidential, and the SEC will then publish the aggregate short sales by each security.

Persons: It's, Dodd, Frank, Gary Gensler Organizations: SEC, The Securities, Exchange Commission, ., Appeals, Gamestop

☆ Warren Buffett's deputy isn't in 'The Big Short' like Michael Burry - but he also bet against the housing bubble and spoke to Michael Lewis
▼ + stars: | 2023-10-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"The Big Short" starred Michael Burry and others who bet the mid-2000s housing bubble would burst. Author Michael Lewis phoned Combs to talk about his housing wager while researching "The Big Short." AdvertisementAdvertisementMichael Burry and the other stars of "The Big Short" weren't the only investors to uncover the toxic assets underpinning the mid-2000s housing bubble, and place bets on its spectacular collapse. Lewis said he was working on a book about the whole situation that would become "The Big Short." AdvertisementAdvertisementCombs finished the story by saying he enjoys being "one small little piece" of the fascinating backstory behind "The Big Short."

Persons: Michael Burry, Todd Combs, Warren Buffett's, Michael Lewis, Combs, —, Warren, Ted Weschler, Baupost Group's Seth Klarman, Klarman, Bear Stearns, Lewis, Steve Eisman, Danny Moses, Greg Lippmann, Buffett, it's Organizations: Service, Berkshire Hathaway's, Countrywide, Washington, Long, Mortgage, Street, Securities and Exchange Commission Locations: Berkshire, Bear Stearns

☆ What to expect when beer king Constellation Brands reports earnings Thursday morning
▼ + stars: | 2023-10-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Lots of Wall Street firms are getting out ahead of this week's earnings from Constellation Brands (STZ) with price target increases. At the time, we were optimistic and increased our price target on the Modelo and Corona maker to $270 per share from $260. When measuring beer growth, he assesses how much shelf space companies get every year and how quickly those products fly off the shelves. All these factors "drive solid beer growth even as the macro environment gets worse," Falorni said. Wedbush also thinks Constellation will be able to weather those macro consumer storms and continue to drive earnings and revenue growth.

Persons: It's, we'll, We'd, Filippo Falorni, there's, Falorni, Wedbush, Wells, Goldman Sachs, Jim Cramer, Bill Newlands, Elliott, Luca Zaramella, Bill Giles, Sands, Jim, Elliot, Jim Cramer's Organizations: Constellation Brands, Modelo, Revenue, Federal Reserve, Constellation, Citi, CNBC, JPMorgan, Modelo Especial, Elliott Management, Club, Mondelez, AutoZone, Getty Locations: Corona, Wells Fargo, U.S, Simi, STZ

Several venture capitalists call New York home and are writing checks to startups of all stages. The city's prominent sectors like finance and media are also prevalent in its VC activity. Insider compiled a list of New York's top VCs, based on recommendations and investment data. The Big Apple's venture capital scene is as strong as ever. This story is available exclusively to Insider subscribers.

Organizations: Street Locations: New York

☆ Oil prices and the dollar surged in the third quarter. These ETFs can help you reset your portfolio
▼ + stars: | 2023-09-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

.DXY 1Y mountain The dollar index hit new highs for 2023 in September. "Energy equities haven't really kept up with the energy market rally," she added. The latest iShares outlook highlighted the firm's U.S. Energy ETF (IYE) as a way to play higher oil prices. Other major funds in that category include the Energy Select Sector SPDR Fund (XLE) , the Vanguard Energy Index ETF (VDE) and the Fidelity MSCI Energy Index ETF (FENY) . Investors can outsource currency market decisions in the form of managed futures ETFs, which have exposure to currency markets in addition to other asset classes.

Persons: Gargi Chaudhuri, Morgan Stanley, Sasikanth Chilukuru, It's, Chaudhuri, Todd Sohn, Sohn, Andrew Beer, Beer, You've, Anastasia Amoroso, There's, Amoroso Organizations: Texas, BlackRock, iShares, Energy, U.S . Energy, Vanguard Energy, Fidelity MSCI Energy, Wall, U.S ., Invesco DB, Fund, WisdomTree Bloomberg, Investors, Global, Apple, Nvidia Locations: U.S, Saudi Arabia, DBi, Japan

REUTERS/Jim Bourg/File Photo Acquire Licensing RightsNEW YORK, Sept 29 (Reuters) - The U.S. securities regulator on Friday said it had fined 12 companies, including brokers, investment advisers and credit rating firms, for record keeping failures. The Securities and Exchange Commission (SEC) said the companies, including Interactive Brokers Corp, Fifth Third Securities and Nuveen Securities, agreed to pay a total of $79 million and admitted they violated the record keeping rules. Credit rating agencies DBRS Inc. and Kroll Bond Rating Agency, LLC also agreed to pay civil penalties to settle SEC charges related to the record-keeping failures, the regulator added. Employees at both firms failed to preserve electronic communications, including off-channel messages on personal and work-issued devices, the SEC said. To settle the charges, DBRS agreed to pay $8 million in civil penalties and KBRA agreed to pay $4 million in civil penalties, the SEC said.

Persons: Jim Bourg, Kroll, DBRS, KBRA, Chris Prentice, Carolina, Barbara Lewis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Interactive Brokers Corp, Fifth Third Securities, Nuveen Securities, Reuters, Wall, DBRS Inc, Kroll Bond Rating Agency, Employees, Thomson Locations: Washington, U.S

☆ 'Dumb Money,' the movie based on the 2021 GameStop trading frenzy, comes up short
▼ + stars: | 2023-09-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'm fascinated by Hollywood's interpretation of finance, from "The Wolf of Wall Street" and "Margin Call" to "The Big Short." The depiction of hedge fund managers Ken Griffin (Nick Offerman), Steve Cohen (Vincent D'Onofrio), and Gabe Plotkin (Seth Rogen), whose firm's GameStop short position put it in Reddit traders' crosshairs, came across as too over-the-top and cartoonish. But if satire was the direction the movie wanted — à la "The Wolf of Wall Street" — it should have pushed harder. Instead, Gill's stoner brother (Pete Davidson) has to carry the comedy load, but most of his jokes come up short.

Persons: —, Keith Gill, Paul Dano, Gill, Ken Griffin, Nick Offerman, Steve Cohen, Vincent D'Onofrio, Gabe Plotkin, Seth Rogen, Griffin, Pete Davidson Organizations: Service, GameStop, Wall

(Reuters) - EquiLend Holdings LLC, the securities lending platform owned by 10 of the biggest Wall Street firms, including Goldman Sachs Group Inc and BlackRock Inc, is exploring a sale following settlement of a major collusion lawsuit, people familiar with the matter said. Euronext NV is one of the parties interested in EquiLend, one of the sources added. EquiLend generates 12-month earnings before interest, taxes, depreciation and amortization of more than $25 million, two of the sources said. One of the sources added that EquiLend may fetch about $700 million in a sale. Goldman Sachs, JPMorgan, Morgan Stanley and UBS agreed to pay $499 million last month to settle the lawsuit that accused them of conspiring to stifle competition in the stock lending market using EquiLend.

Persons: Amr Alfiky, Broadhaven, Morgan Stanley, EquiLend, Goldman Sachs Organizations: Reuters, EquiLend Holdings, Goldman Sachs Group Inc, BlackRock Inc, Trade Center, REUTERS, Broadhaven Capital Partners, Wall Street, Bank of America Corp, UBS Group AG, JPMorgan Chase &, JPMorgan, UBS Locations: Manhattan, New York City, U.S, EquiLend

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. One said some firms could pay as much as $50 million. The SEC has previously negotiated two other large group settlements as part of its "off-channel" communications probe. In August, regulators fined nine Wall Street firms, including Wells Fargo (WFC.N) and Societe Generale (SOGN.PA), a combined $549 million over employees' use of personal messaging apps. In September 2022, it fined 16 firms, including Goldman Sachs, Morgan Stanley, Citigroup and Bank of America, $1.8 billion for similar lapses.

Persons: Jim Bourg, Spokespeople, Oppenheimer, Voya, Wells, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Chris Prentice, Carolina, Michelle Price, Jacqueline Wong Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Reuters, Truist Financial Corp, US Bancorp, Voya Financial, LPL, Interactive, Oppenheimer, Fifth Third Bancorp, Fifth, Truist, Wall Street, Societe Generale, Citigroup, Bank of America, JPMorgan, Thomson Locations: Washington

ORLANDO, Florida, Sept 28 (Reuters) - The 'dollar smile' can be a blessing for Wall Street, or a curse. But the speed and extent of the move in the dollar and Treasuries, and tightening of financial conditions, warrant vigilance. According to Goldman Sachs, U.S. financial conditions are the tightest this year. This is not dissimilar to other major economies and regions, some of which - the euro zone, China and emerging markets - are feeling an even tighter squeeze. It might be too early for that to appear in third-quarter results - many big Wall Street firms will have hedged their currency exposure over the near term - but if sustained, fourth-quarter profits could be affected.

Persons: Stephen Jen, reckons Stuart Kaiser, Kaiser, Goldman Sachs, Rabobank's Jane Foley, Foley, Jamie McGeever, Andrea Ricci Organizations: Treasury, Citi, FCI, Reuters, Thomson Locations: ORLANDO, Florida, China, U.S, America

☆ Donald Trump says interest rates are so high people 'can't do anything' - and vows to beat inflation so borrowing costs can be cut
▼ + stars: | 2023-09-18 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

"Interest rates are too high – people can't buy homes, they can't do anything," he said Sunday. "Right now, interest rates are too high – people can't buy homes, they can't do anything," Trump told NBC's "Meet the Press". They say Trump was right about everything." I did a lot of jawboning against him, and he ultimately lowered interest rates," Trump added. "We had lower interest rates.

Persons: Donald Trump, Trump, NBC's, Bacon, Jerome Powell, Powell, – Organizations: Service, Federal Reserve, NBC, Twitter Locations: Wall, Silicon

☆ Wall Street banks shed jobs to ease cost pressures
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Morning commuters walk on Wall Street in New York's financial district October 30, 2014. Others, like Citigroup (C.N), are preparing to cut jobs as part of a structural revamp targeted to remove complexity. It also laid off nearly 1,000 employees from First Republic Bank, the collapsed lender it had acquired from the Federal Deposit Insurance Corp. The bank laid off about 3,200 people earlier this year in its biggest headcount reduction since the 2008 financial crisis. Lazard (LAZ.N) -The New York-based investment bank said it would cut around 10% of its workforce in 2023.

Persons: Brendan McDermid, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Wells Fargo, Wells, Mike Santomassimo, Santomassimo, Charles Schwab, Lazard, Jaiveer Singh, Maju Samuel Organizations: REUTERS, Banking, Citigroup, JPMorgan, First Republic Bank, Federal Deposit Insurance Corp, Reuters, Financial Times, Bloomberg News, Wall Street, UBS Group, Credit, Thomson Locations: New, U.S, New York, York, Bengaluru

☆ Goldman Sachs fires several executives in transaction banking -memo
▼ + stars: | 2023-09-13 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 13 (Reuters) - Goldman Sachs (GS.N) fired several executives in its transaction banking unit after they violated the firm's communications policy, according to a memo seen by Reuters on Wednesday. Philip Berlinski, the bank's treasurer, will take over day-to-day management of transaction banking alongside Akila Raman and Luc Teboul. The fired executives also failed to cooperate with Goldman Sachs' compliance department. The bank remains strongly committed to the transaction banking business, it said. Goldman Sachs was among the first wave of big banks regulators hit with stiff penalties for such recordkeeping failures.

Persons: Goldman Sachs, Andrew Kelly, Philip Berlinski, Akila Raman, Luc Teboul, Berlinski, Hari Moorthy, Moorthy, Saeed Azhar, Chris Prentice, Leslie Adler, Lananh Nguyen, Josie Kao Organizations: REUTERS, Reuters, FINRA's, Wall Street, Thomson Locations: Manhattan , New York, U.S

☆ After Birkenstock's 'Barbie' bump, iconic footwear brand seeks a big part in IPO market
▼ + stars: | 2023-09-13 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.

Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S

☆ Here's why Jim Cramer says wait to buy this AI software winner
▼ + stars: | 2023-09-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Shares of Adobe entered Tuesday's session up 11.5% since the Aug. 18 close, and now two Wall Street firms — BMO Capital Markets and Wells Fargo — hiked their price targets on Adobe stock, implying further upside ahead. Investors who are itching to buy Adobe (ADBE) should wait until the software maker reports quarterly results later this week, CNBC's Jim Cramer said Tuesday. "I think if you don't own Adobe by now, you might just want to wait." If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "I think it's a really good company," added Cramer, who called Adobe the No.

Persons: Wells Fargo —, CNBC's Jim Cramer, Cramer, Jim Cramer's, — Organizations: Adobe, BMO Capital Markets, Wells, Oracle, Trust, CNBC, Club

☆ Oracle's post-earnings slide is 'one of the greatest overreactions' Cramer has seen. Here’s his advice on the stock
▼ + stars: | 2023-09-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

The post-earnings sell-off in Oracle (ORCL) is overdone and a clear-cut buying opportunity, Jim Cramer said Tuesday. Still, Oracle delivered robust growth in cloud-computing services, making the stock's slide Tuesday "one of the greatest overreactions I've ever seen," according to Jim. We recognize the challenges facing other parts of Oracle's business, including Cerner and some of its traditional business software offerings. This mix enables us to view Tuesday's stock decline as another entry point, rather than a reason to walk out the door. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, we've, Cerner, Safra Catz, hasn't, Jim Cramer's, Brendan Mcdermid Organizations: Oracle, Club, Trust, CNBC, UBS, Barclays, Management, Oracle Corporation, New York Stock Exchange Locations: New York City, U.S

☆ Here's what investors selling Oracle on the company's mixed quarter and lower guide are missing
▼ + stars: | 2023-09-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

This momentum is turning into bookings, and that gives me the confidence that our annual revenue growth will continue to accelerate moving forward." These bullish comments — taken together — made the softer fiscal second quarter guide all the more puzzling. But for now, we're chalking up the revenue growth softness to some lumpiness around one quarter to the next. Guidance Oracle's weaker-than-expected fiscal 2024 second quarter guide caused shares to drop a second leg lower after the closing bell Monday. Within that figure, Oracle expects cloud revenue to increase 29% to 31%, which at the midpoint is about stable from the first quarter.

Persons: it's, Oracle, Larry Ellison, Safra Catz, —, we're, we'll, Cerner, Ellison, Katz, Catz, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Oracle, LSEG, Wall, Autonomous Database, Oracle Cloud Infrastructure, Infrastructure, Software, Microsoft, Web Services, Google, Johnson Controls, MGM Resorts, CNBC Locations: Cerner, Redwood Shores , California

☆ Wall Street firms and retired generals to discuss hypothetical Chinese invasion of Taiwan
▼ + stars: | 2023-09-07 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Wall Street firms and retired generals will discuss a hypothetical Chinese invasion of Taiwan. The "tabletop exercise" will take place next week in New York, sources told the New York Times. It comes as the congressional China committee plans to meet with top Wall Street investors. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. It comes as the congressional China committee plans to go to New York, where lawmakers will meet with banks, hedge funds and venture capital firms, according to the New York Times.

Persons: Jay Clayton, Jim Chanos, Anne Stevenson, Yang, Mike Gallagher, Biden, BlackRock Organizations: New York Times, Wall, Service, Chinese Communist Party, Council, Foreign Relations, Communist, Financial, Securities and Exchange, Kynikos Associates, J Capital Research, Financial Times, Wall Street Locations: Taiwan, New York, China, Wall, Silicon, Wisconsin, MSCI, Xinjiang

Now, however, some firms and experts are walking back those predictions, calling into question the validity of a once-trusted recession indicator known as the yield curve inversion. Nobody rational would argue that the yield curve could have predicted a global pandemic and the short recession that followed it. NABE's most recent survey shows economists are divided on what a yield curve inversion means for the U.S. economy. In normal circumstances, yield curve inversions have been a pretty good indicator of recessions, according to Jebaraj. While the yield curve inverted in 2019, that was not necessarily a predictor of the 2020 recession.

Persons: Mervin, NABE, Goldman Sachs, NABE's Jebaraj, Sam, Jebaraj, — Organizations: Westend61, Getty, National Association for Business Economics, Reserve, Wall, Bank of America, JPMorgan, Center for Business, Economic Research, Walton College of Business, University of Arkansas, Treasury, National Association for Business Locations: U.S

☆ Insider Today: Gen Z is out on college
▼ + stars: | 2023-09-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at why college isn't part of the plan for some Gen Zers. Between skyrocketing tuition costs and underwhelming salaries, some Gen Zers are skipping college altogether, writes Charlotte Lytton. A recent survey found that 40% of business leaders think recent Gen Z college grads are unprepared when they enter the workforce. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Dan DeFrancesco, weren't, Zers, Chelsea Jia Feng, Zers aren't, Charlotte Lytton, It's, Alix Earle, NFTs, TikTok hasn't, Earle, Alix Earle's TikToks, @alixearle, Spencer Platt, Goldman Sachs, we've, David Rosenberg, Rosenberg, Kevin Dietsch, Marc Benioff, they're begrudgingly, Arantza Pena Popo, Corizon, Sen, Elizabeth Warren, James Webb, Stephen King, Holly Gibner, Rice, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Electric, Wall, Tech, University of Miami, Getty, JPMorgan, Amazon, James, James Webb Telescope, Hubble, NASA, ESA, CSA, Costco, Kirkland Locations: Wall, Silicon, NFTs, Blackstone, Bridgewater, Seoul, New York City, San Diego, London, New York

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ AllianceBernstein is using AI on everything from research to operations. Here's how it's helping the $704 billion asset manager save hundreds of thousands of dollars.
▼ + stars: | 2023-09-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Here's how AB uses AI to get an edge, save analysts hours of work, and improve risk management. Seven years ago, the massive money manager AllianceBernstein set out on a mission to transform itself with AI and data science. The move would save AB hundreds of thousands of dollars and help its investors seek an edge with the $704 billion assets they manage. Chin lifted the hood on the asset manager's AI strategy and use cases. For instance, one signal compares regulatory filings for differences in company strategy or management.

Persons: AllianceBernstein, Andrew Chin, Chin, Larry Fink, terminations, It's Organizations: Wall Street, Vanguard, Fidelity Locations: BlackRock

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