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☆ Here are Thursday's biggest analyst calls: Amazon, Chevron, Chipotle, Lowe's, Hershey, AT&T & more
▼ + stars: | 2022-12-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wall Street's biggest calls on Thursday: Bank of America reiterates Chevron as buy Bank of America said it's standing by its buy rating on the oil and gas giant after it announced its 2023 capital budget on Wednesday. JPMorgan upgrades Vulcan Materials to overweight from neutral JPMorgan said risks for the construction materials company are already priced in. UBS initiates Shopify as sell UBS said it's concerned about increasing competition. UBS upgrades Hershey to buy from neutral UBS said it's becoming bullish on the chocolate and candy maker's long-term growth. Bank of America reiterates Lowe's as buy Bank of America said shares of Lowe's remain attractive.

☆ How 2 friends at Bain spotted a big compliance risk in the crypto industry — and raised $2.8 million from CRV and Y Combinator to help fix it
▼ + stars: | 2022-12-06 | by ( Stephanie Palazzolo | April Joyner | ) www.businessinsider.com time to read: +4 min

Argus, which makes compliance software for crypto funds and trading firms, has raised $2.8 million. After FTX's fall, crypto firms are focused on compliance but worried about costs, Argus' CEO said. To prevent insider trading, Argus checks employee trades against a list of restricted assets, looking for overlap. Although other startups, such as ComplySci, also offer financial compliance software, Rapaport says that Argus distinguishes itself through its focus on crypto, where compliance procedures are relatively new terrain. "And so they're probably not thinking, 'Can we bring on a new compliance software?'

☆ U.S. urges caution on low-quoted Russian oil prices as EU debates price cap
▼ + stars: | 2022-12-01 | by ( David Lawder | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 30 (Reuters) - The Biden administration broke its silence on Wednesday on European Union deliberations over a $65-70 per barrel Russian oil price cap on Wednesday, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution. The U.S. official cited concerns over using prices that represent a subset of Russian oil sales. A price cap of $65 a barrel on Russian crude would represent a meaningful price reduction from recent prices, citing an estimated average of $78 per barrel since March 2022. The cap was conceived as a way to limit Moscow's oil revenues while keeping Russian crude on the global market to avoid a massive spike in oil prices. The price cap will be enforced by denying insurance, shipping and other maritime services provided by G7 democracies and Australia to shipments priced above the cap.

☆ Russian oil is now 20% below the proposed price cap as EU nations remain split in talks
▼ + stars: | 2022-11-28 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

That's 20% lower than the European Union's proposed price cap of $65 per barrel, though some nations want it lower. EU member countries are resuming talks on Monday over the Russia oil price cap. Last week, reports said a price cap of $65-$70 was under discussion. The price cap will coincide the EU's December 5 embargo on seaborne Russian crude imports and ban on related services for deliveries worldwide. But because Russian oil is already selling below the proposed price cap level, analysts have noted that it wouldn't be low enough to weaken Moscow's revenue.

☆ India and China are still snapping up Russian oil — but they are demanding huge bargains which is hitting Kremlin's war chest
▼ + stars: | 2022-11-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

India and China now account for two-thirds of seaborne Russia crude oil exports. As major customers, they are demanding huge discounts from Russia, hitting Kremlin's war chest. India and China now account for about two-thirds of all Russian seaborne crude-oil exports, and as major customers, they are demanding massive discounts for their purchases, Bloomberg's oil strategist Julian Lee wrote on Sunday. That is also why Washington doesn't appear to be too worried about India and China's huge purchase of Russian oil, even if they pay prices above a G7 imposed price cap. Russian oil "is going to be selling at bargain prices and we're happy to have India get that bargain or Africa or China.

☆ Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
▼ + stars: | 2022-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Apple — Apple's stock shed 2% on Friday after protests occurred at the iPhone maker's major Foxconn supplier in China earlier this week. Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard. Manchester United — Manchester United's stock surged 12.8%, building on this week's earlier gains following news that the soccer team's owners are weighing a potential sale. Canoo – The electric vehicle company's stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased shares.

The LNG industry argues that all of those of measures would result in lower investment and lower natural gas production over time, which would ultimately lead to higher prices. The Russian invasion of Ukraine and the subsequent surge in energy prices amid fears over the loss of Russian exports of natural gas, LNG, crude oil and coal has provided Australia's LNG exporters with windfall revenues. But it has also led to higher prices in the domestic market, and calls from businesses and households for action to make LNG more affordable. The LNG industry is happy to meet one of those demands, namely ensure sufficient supply is offered to domestic consumers before being made available to the LNG exporters. What gas consumers want is capped prices and guaranteed volumes.

☆ Stocks making the biggest moves midday: Disney, Carvana, Diamondback Energy and more
▼ + stars: | 2022-11-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Disney — Shares jumped 5% after the company reappointed Bob Iger as chief executive officer, effective immediately and 11 months after he left Disney. Carvana — Shares of the used car company slid 13% after Argus downgraded the stock to sell from hold. Energy stocks — Energy stocks were the biggest losers in the S&P 500 midday after oil prices fell to their lowest levels since early January following a Wall Street Journal report that Saudi Arabia and other OPEC oil producers are discussing an output increase. Still, Diamondback Energy and Halliburton fell 4% and 2.9%, respectively. Intel — Shares dipped more than 2% after Cowen downgraded Intel to market perform from outperform, according to StreetAccount.

☆ Here's what Bob Iger's return as Disney CEO means for the company's theme parks
▼ + stars: | 2022-11-21 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Bob Chapek's tenure as Disney CEO abruptly ended, and Bob Iger will resume the role. A former Parks exec, Chapek angered many theme park fans by jacking up prices and axing free services. Chapek's time at Disney was marked by criticism of his handling of Disney's theme parks and park employees, and many Disney fans took to social media to celebrate Iger's return. He expanded the company's theme park offerings – opening an Avatar world, Toy Story Land, Star Wars: Galaxy's Edge, and Shanghai Disneyland – all while keeping many services comparatively low-cost or free. Not all Disney watchers believe Iger will radically change the direction Chapek had led Disney's theme parks, though.

☆ Here are Monday's biggest analyst calls: Amazon, Nio, Disney, Carvana, Coinbase, Costco & more
▼ + stars: | 2022-11-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan reiterates Amazon as top idea JPMorgan said the e-commerce giant is well positioned heading into the holiday season. " Morgan Stanley initiates Las Vegas Sands as overweight and names DraftKings as a top pick Morgan Stanley said in its initiation of Las Vegas Sands that it sees an attractive risk/reward. Morgan Stanley downgrades MongoDB to equal weight from overweight Morgan Stanley said in its downgrade of the database platform company that it's concerned about slowing growth for MongoDB. JPMorgan reiterates Charles Schwab as overweight JPMorgan said Charles Schwab is well positioned as one of the biggest "distributors of third-party mutual funds." Morgan Stanley upgrades Restaurant Brands to equal weight from underweight Morgan Stanley said it likes that the owner of brands such as Burger King appointed the former Domino's CEO as executive chairman.

LAUNCESTON, Australia, Nov 21 (Reuters) - Iron ore prices are gathering steam as confidence over the outlook for China's steel demand increases, outweighing bearish factors such as potential winter production curbs and India lowering iron ore export taxes. Iron ore inventories at Chinese ports dropped to 135.45 million tonnes in the week to Nov. 18 from 136 million the previous week. China iron ore imports vs spot priceIRON ORE IMPORTSNovember is shaping up to be a strong month for iron ore arrivals, with commodity analysts Kpler estimating seaborne imports of 103.9 million tonnes, while Refinitiv estimates a higher 106 million tonnes. India may also start exporting more iron ore cargoes after the government scrapped some taxes, especially those on lower-grade material. Even if India does manage to resume exports, it's likely to have only a limited impact on prices for lower grades of iron ore, such as 58% and below.

☆ Insurance is poised to perform well even amid economic weakness. Here are expert's top stock picks
▼ + stars: | 2022-11-18 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

Why insurance stocks have outperformed There are a few things that have led to the sector's outperformance this year and that are expected to give it a lift in 2023. Within the group, he's focused on property and casualty insurance and life insurance. Other analysts also see value in so-called multi-line companies, which bundle different kinds of insurance together, and reinsurance, which is insurance for insurance companies. Which stocks insurance analysts like Dwelle's top pick is AIG , which has property and casualty and life insurance. He also recommends the insurance group for investors who want to orient themselves more conservatively and stay away from buying beaten up growth stocks, such as tech names.

☆ Here are Tuesday's biggest analyst calls: Tesla, Amazon, Netflix, First Solar, Carvana & more
▼ + stars: | 2022-11-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Loop reiterates Apple as buy Loop said it sees macro headwinds building for Apple. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said investors should buy the dip in shares of Tesla. Morgan Stanley names CBOE a top pick Morgan Stanley said the global markets company has a compelling entry point. Barclays reiterates Amazon as overweight Barclays said it sees a favorable risk/reward for Amazon shares right now. " AMZN shares remain out of favor heading into peak holiday season owing to its sub-seasonal revenue guide and AWS deceleration."

☆ Crypto.com CEO downplays FTX contagion fears, says he’ll prove naysayers wrong as withdrawals rise
▼ + stars: | 2022-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

"We do not run a hedge fund, we do not trade customers' assets. Alameda Research, FTX's sister company, borrowed billions in customer funds from the exchange to ensure it had enough funds on hand to process withdrawals, CNBC reported Sunday. Bankman-Fried declined to comment on allegations of misappropriating customer funds but said its recent bankruptcy filing was the result of issues with a leveraged trading position. Asked about this Monday, Marszalek said this was just a reflection of the assets Crypto.com customers were buying. Crypto.com has 70 million users globally and made revenues of $1 billion annually in both 2021 and 2022, according to Marszalek.

While supply concerns have eased, the main dynamic behind the price retreat has been weakness in the residential construction sector in China, which takes about 70% of iron ore that is exported by sea. Given that construction accounts for more than a third of China's total steel demand, the ongoing weakness in residential property has been a cloud over iron ore's outlook. A recovery may be on the cards in November, with commodity analysts Kpler estimating that seaborne iron ore imports will be around 96.87 million tonnes. But the overall message from iron ore imports this year is that they will likely be slightly lower in 2022 than last year. While the market tends to focus on weakness in residential property construction, total construction has been holding up far better.

☆ FTX users appear to be cashing out of bankrupt crypto exchange through a Bahamas loophole
▼ + stars: | 2022-11-12 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

Some FTX users appear to have found a way to move money off of the exchange through a back door in the Bahamas. The patterns suggest "desperate" customers were turning to FTX users in the Bahamas for help, according to Argus. The now-bankrupt global cryptocurrency exchange is only allowing withdrawals in the Bahamas after halting FTX liquidations everywhere else in the world. High-net-worth users are paying astronomical prices for NFTs on FTX at a time when the broader crypto and digital collectible market has nosedived. Argus said this type of trading is likely an attempt by FTX users to access money in any way they can.

LAUNCESTON, Australia, Nov 10 (Reuters) - Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the different grades of the polluting fuel. That means it reflects only a small percentage of the total seaborne thermal coal market. A better reflection of Australian coal is provided by the Argus API5 assessment for 5,500 kcal/kg coal , which is bought by customers in India and other Asian nations, such as Vietnam. Russia exported 10.93 million tonnes of thermal coal via ships in October, the most since July's 11.66 million, according to data compiled by commodity consultants Kpler. Overall, the seaborne thermal coal market is showing the prices with the most exposure to Europe are declining, while those linked mainly to China are holding up.

☆ Here are Friday's biggest analyst calls: Roblox, WeWork, Krispy Kreme, Boeing, Coinbase & more
▼ + stars: | 2022-11-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Roblox as buy Bank of America said it's standing by shares of the stock heading into earnings next week. JPMorgan downgrades Funko to neutral from overweight JPMorgan downgraded the pop culture toy company, noting it sees too much uncertainty. " Piper Sandler downgrades Atlassian to neutral from overweight Piper said it sees a slowdown in subscription billings for the software developer. " Bank of America reiterates Krispy Kreme as buy Bank of America said "brand health is strong but FX, UK, promos weigh," heading into Krispy Kreme earnings Nov. 15. Jefferies reiterates Topgolf Callaway Brands as buy Jefferies said it sees 200% upside in shares of the golf company. "

☆ Argus Research's Steve Biggar weighs in on PayPal and Block's earnings
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArgus Research's Steve Biggar weighs in on PayPal and Block's earningsSteve Biggar, Argus Research director of financial institutions, joins 'Closing Bell: Overtime' to discuss Block and PayPal earnings.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Nike, Monster, AMD, Carvana, CVS & more
▼ + stars: | 2022-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: Bank of America reinstates Deckers as buy Bank of America called Deckers a "rare, consistent compounder." Deutsche Bank reiterates Amazon as buy Deutsche said "macro challenges are no doubt pressuring ad budgets" for Amazon, but the company continues to be well positioned. JPMorgan upgrades Carvana to neutral from underweight JPMorgan said in its upgrade of the stock that risks are now better understood. JPMorgan upgrades Monster to outperform from neutral JPMorgan said the beverage giant has an "attractive narrative." Bank of America reiterates Advanced Micro Devices as buy Bank of America said shares of AMD are attractive heading into earnings Tuesday afternoon.

☆ Europe now has so much natural gas that prices just dipped below zero
▼ + stars: | 2022-10-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN Business —Europe has more natural gas than it knows what to do with. Now, EU gas storage facilities are close to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling. The price of benchmark European natural gas futures has dropped 20% since last Thursday, and by more than 70% since hitting a record high in late August. Prices turned negative because of an “oversupplied grid,” Tomas Marzec-Manser, head of gas analytics at the Independent Commodity Intelligence Services (ICIS), told CNN Business. The bloc has ramped up imports of LNG from the United States and Qatar as natural gas imports from Russia plummeted.

A farmer spreads nitrogen fertilizer in his wheat field in Blecourt, France, May 27, 2021. Russia, under financial sanctions, is a major producer of fertilizer and natural gas, key in making nitrogen products to boost yields of corn and other crops. Since Russia's February invasion of Ukraine, Europe started weaning itself off Russian natural gas and a pipeline transporting ammonia from Russia to a Ukraine port shut down. European countries typically buy most of their imported urea, a form of nitrogen fertilizer, from North Africa, but are now purchasing it further afield, Wallace said. EU nitrogen prices eased in mid-October as some European plants resumed production due to softening natural gas prices, he said.

Wall Street banks committed to helping Elon Musk finance his $44 billion takeover of Twitter stand to $500 million in the process, by some estimates. One of Musk's banks has even told its staff to expect a borrowing notice from Musk by today, Bloomberg reported. But don't feel sorry for the banks just yet — a group that comprises Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. The group consists of Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. Birchall's eldest son Benjamin even interned at Morgan Stanley for his ex-colleagues Frank Malone and Jon Neuhaus in the summer of 2021.

☆ Netball Australia: Gina Rinehart pulls sponsorship in dispute over father's racist comments
▼ + stars: | 2022-10-23 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +11 min

Brisbane, Australia CNN —When Australia’s richest woman Gina Rinehart threw a financial lifeline to Netball Australia, she triggered a debate about sponsorships and the role of social and political issues in the sporting sphere. Donnell Wallam of the Firebirds is a rising star in Australian netball. On Monday, Kathryn Harby-Williams, CEO of the Australian Netball Players’ Association told the Australian Broadcasting Corporation that Wallam had asked for an exemption not to wear the logo and was refused. Netball Australia CEO Kelly Ryan told Nine News the loss of Hancock sponsorship was “disappointing” but a “strong balance” needs to be struck between social issues and funding. “When done well, sport sponsorship is brand transforming for both the sport and sponsor.”

☆ Biggar: The headline results for bank earnings today likely won't be positive
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiggar: The headline results for bank earnings today likely won't be positiveStephen Biggar, Director of Financial Institutions Research at Argus Research, joins Worldwide Exchange to discuss the expected bank earnings from JPMorgan, Citi, Morgan Stanley, and Wells Fargo.

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