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☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

☆ China's consumers are spending on experiences. Travel stocks to watch
▼ + stars: | 2024-06-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

In a report last week about China's consumer market potential, Bank of America Securities analysts chose hotel operator H World as one of its top picks. "We believe H World is best positioned to capture long-term growth in the China hotel industry given best-in-class execution," the analysts said. BofA rates H World a buy, and expects its U.S.-listed shares can reach $47. That's 30% above where H World shares closed Thursday. In China, H World also owns master franchisee rights for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel.

Persons: Wang Xing, Meituan, Styles, Grand, Goldman Sachs, Morgan Stanley, Wang, Neil Shen, Shen, BTG's, BTG, Trip.com, — CNBC's Michael Bloom Organizations: HSBC, Hong, Bank of America Securities, Mercure, Grand Mercure, Novotel, Travelers, BTG Hotels, Shanghai, Jefferies Locations: Hong Kong, China, U.S, Asia, Macau, Taiwan, —, Mainland China

Betting on AckmanBill Ackman has gained new prominence in recent months for his outspoken presence on social media. But he has also made riches for his investors and himself — and now others are hoping he’ll continue to do so. His Pershing Square Capital Management has sold a 10 percent stake for just over $1 billion to an array of outside investors, giving the hedge fund a lofty valuation. The question is whether Ackman’s newfound fans on social media will follow him as he grows his empire, including through a new listed fund and, eventually, an I.P.O. That has bolstered Ackman’s paper worth to $8 billion, Bloomberg calculates, making him 333rd among the world’s wealthiest people.

Persons: Bill Ackman, —, he’ll, BTG, Marc Lasry, Doug Hirsch Organizations: Pershing, Capital Management, Arch Capital, Iconiq Investment Management, Bloomberg

☆ Top minds at Milken unveil what they're seeing under the surface of the US economy as the national debt burden rises to nauseating levels
▼ + stars: | 2024-05-08 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

For the 27th straight year, some of the brightest minds from across the business world descended on Beverly Hills in early May to attend the Milken Institute Global Conference. But while speculation stole headlines, Milken speakers spent much of their time fixated on the state of the US economy. But despite continued concerns about stagflation, Milken speakers overwhelmingly expressed confidence about economic growth at a May 6 session called "Global Markets at Inflection." "The economy is still extremely strong, consumers are still doing really well, businesses are still doing really well," Scharf said. Though far from perfect, the US is still the best place to investDespite the $34.7 trillion anvil hanging over the economy, Milken speakers widely agreed that the US is still the best place to invest and operate a company.

Persons: Elon Musk, he's, Milken, Wells, Franklin Templeton, Gerard Baker, Andre Esteves, Jenny Johnson, Charlie Scharf, Scharf, we've, it's, you've, hasn't, Sam, Joshua Friedman, Anne Walsh, Friedman, Esteves, they've, Johnson, " Scharf, Wells Fargo Organizations: Milken Institute Global, SpaceX, Business, Milken, The, Consumers, Starbucks, Canyon Partners, Investors, Guggenheim Investments, Milken Institute Global Conference, US Locations: Beverly Hills, Wells Fargo, Brazil, McDonald's, Washington

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ 4 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-02-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale

☆ Brazilian lender Itau launches crypto trading
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 4 (Reuters) - Brazilian bank Itau Unibanco (ITUB4.SA) on Monday launched a cryptocurrency trading service for clients of its investment platform, making the nation's largest lender the latest local player to enter the market for the digital asset's exchange. "It starts with bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future," he said, adding any expansion would depend on how crypto regulation in the country evolved. Itau argues it will stand out from rivals as it also acts as a custodian, safeguarding users' assets, Antunes said. The move comes about a month after two local players announced they were leaving the crypto market. Brokerage and investments company XP (XP.O) did not say why it was shutting down its crypto service, but financial services firm PicPay, owned by conglomerate J&F which also controls meatpacker JBS (JBSS3.SA), cited regulatory uncertainties.

Persons: Guto Antunes, Itau, Antunes, meatpacker, Paula Arend Laier, Andre Romani, Kylie Madry, Chris Reese Organizations: SAO PAULO, Monday, Thomson Locations: bitcoin, Brazil

☆ Abu Dhabi's ADNOC makes new bid for stake in Brazil's Braskem; shares soar
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai Acquire Licensing RightsSAO PAULO, Nov 9 (Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) on Thursday said Abu Dhabi oil company ADNOC (ADNOC.UL) has presented a new non-binding offer to buy conglomerate Novonor's stake in the firm. The petrochemical company cited a letter exchange with Novonor in its filing. The conglomerate would be granted a minority stake of up to 3% in Braskem following the deal, Braskem added. ADNOC had previously presented a joint cash-and-debenture offer alongside U.S. asset manager Apollo (APO.N) for Braskem, with other bidders for the firm including Brazil's Unipar Carbocloro (UNIP6.SA) and J&F.

Persons: Toru Hanai, Braskem, ADNOC, Folha de S.Paulo, BTG, Pedro Soares, we're, Brazil's Unipar, Gabriel Araujo, Steven Grattan, Tomasz Janowski, David Evans Organizations: REUTERS, SAO PAULO, Petrobras, PETR4, Novonor's, Sao Paulo, Novonor, Folha de, ADNOC, U.S, Apollo, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, Sao, Braskem

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Russia lost at least 15 tanks in a matter of days in just one Ukrainian village, analysts say
▼ + stars: | 2023-10-13 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

It lost at least 15 tanks in about two days, one analyst said, with other reports of losses. AdvertisementAdvertisementRussia lost at least 15 tanks and 33 armored vehicles in about two days as it launched a major assault on a strategic village, analysts said. Other groups monitoring Russia's invasion of Ukraine gave similar assessments of Russia's recent losses there. And Ukrainian military analysts estimated that Russia lost at least 36 vehicles in Avdiivka over just two days, The Telegraph reported. AdvertisementAdvertisementFootage shared by the Shadow of Ukraine Telegram channel shows Russian vehicles being hit.

Persons: —, Osinttechnical, ISW, Vitaliy Barabash, Volodymyr Zelenskyy Organizations: Service, Center for Naval, Avdiivka, for, Telegraph, Ukraine Telegram, Russia, Mechanized Brigade, Amphibious Assault Brigade, General Staff of, Armed Forces Locations: Russia, Avdiivka, Ukraine, Washington, Ukrainian, Russian

☆ Russian failures in Ukraine are forcing Moscow to give up on one of the biggest Putin-era military reforms
▼ + stars: | 2023-10-11 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

As a result, Russia's military is ditching one of the main reforms lauched under Vladimir PutinNEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The German Army in World War II routinely formed combined-arms battlegroups ("kampfgruppen"), as did the US Army's task forces. BTGs were composed of professional contract soldiers, who are generally more capable, competent, and motivated than the sullen conscripts that still hamper Russia's army today. A few high-readiness battalions can't compensate for the low-readiness conscripts that make up about one-third of Russia's army. ALEXANDER NEMENOV/AFP via Getty Images"The Russian military is well-suited to short, high-intensity campaigns defined by a heavy use of artillery," Michael Kofman and Rob Lee, both experts on Russia's military, wrote in June 2022.

Persons: Vladimir Putin, —, Vladimir Putin's, Josef Stalin, SERGEY VENYAVSKY, Olesya, Tkacheva, BTGs, SERGEI VENYAVSKY, ALEXANDER NEMENOV, Michael Kofman, Rob Lee, Michael Peck Organizations: Service, Russian, Red Army, Tactical Groups, Getty, Ukraine —, Brussels School, Governance, Wilson Center, Washington DC, German Army, US, Foreign Military Studies Office, Britain's Royal United Services Institute, Troops, Soviet Army, British Army, Ministry of Defense, Russian Armed Forces, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Russia, Chechen, AFP, Washington, Russian, Georgia, Moscow, Syria, Russia's, Krasnodar, Soviet, BTGs, Germany, Forbes

An Embraer E195-E2 Profit Hunter aircraft is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier//File PhotoSAO PAULO, Aug 14 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday shot past market estimates for second-quarter results, with its chief executive voicing optimism about upcoming quarters for the company. "Despite the supply chain challenges, we are very optimistic about this year after a good Q2," Gomes Neto said. "We're working hard so next year we can better spread out production and deliveries throughout the year, which will further improve the company's performance," Gomes Neto added. The planemaker reported a 25% increase in second quarter adjusted net profit to $57.9 million, more than double the $24.3 million forecast by analysts polled by Refinitiv.

Persons: Benoit Tessier, Francisco Gomes Neto, Gomes Neto, BTG Pactual, Gabriel Araujo, Jason Neely, Barbara Lewis, Sharon Singleton Organizations: Embraer, Hunter, International Paris Air, Le, REUTERS, SAO PAULO, EMBR3, Airbus, Boeing, Refinitiv, JPMorgan, Thomson Locations: Le Bourget, Paris, France

The world's third-largest aircraft maker after Airbus (AIR.PA) and Boeing (BA.N), Embraer bagged 13 fresh orders for commercial jets at the Paris Airshow, falling short of market estimates and previous years' levels. The 13 new orders compared with 74 secured at Le Bourget in 2019 and 28 in Farnborough last year. They also lagged some upbeat market forecasts, including expectations by JPMorgan analysts for at least 30 orders. In Paris, investors were especially disappointed by the lack of orders from the booming Indian airline market, which handled an all-time-high 500-plane transaction to Airbus and new orders to Boeing. "We believe that most of the pre-event excitement has already been adjusted in share prices," said XP Investimentos, while also rates Embraer a "buy."

Persons: Le Bourget, Gabriel Araujo, Conor Humphries, Leslie Adler Organizations: SAO PAULO, Embraer, EMBR3, Airbus, Boeing, Paris, Le, JPMorgan, American Airlines, Royal, Salam Air, Thomson Locations: China, Farnborough, U.S, Paris, Royal Jordanian, New York

☆ Brazil's Localiza launches $935.5 mln share offering to expand fleet
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 16 (Reuters) - Brazilian car rental company Localiza (RENT3.SA) said on Friday it will launch a follow-on share offering aimed at raising as much as 4.5 billion reais ($935.51 million) to expand its car fleet and service network. The primary offering will initially comprise 60.02 million new shares, Localiza said in a securities filing, but could be increased by up to 12.5% if demand allows it. Considering its closing price of 66.64 reais per share on Thursday, the offering would total around 4 billion reais, the company said. Shares of Localiza slipped around 2% after the move was announced, making it one of the biggest fallers on Brazil's Bovespa stock index (.BVSP). ($1 = 4.8102 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Louise Heavens and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Localiza, Bradesco, BTG Pactual, Gabriel Araujo, Steven Grattan, Louise Heavens, Conor Humphries Organizations: SAO PAULO, JPMorgan, UBS Brasil, Santander, Bank of America, Banco Safra, XP, Thomson Locations: Santander Brasil

☆ Former Goldman Sachs partner launches fund of up to $550 mln in Portugal
▼ + stars: | 2023-05-09 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, May 9 (Reuters) - Fortitude Capital, founded by former Goldman Sachs (GS.N) partner Antonio Esteves, Brazilian bank BTG Pactual (BPAC3.SA) and Portuguese asset manager Atrium, has launched its first fund with a target size of up to 500 million euros ($550 million). He said that, contrary to the majority of funds in Portugal, the first Fortitude fund would be mostly funded by private investors and its founders will be the fund's biggest investors. He added that Portugal, only sporadically on the radar of global private equity funds and international investment banks, was always short of private capital and very dependent on national banks. In Portugal, private equity funds are normally funded by public money and tend to be up to 100 or 200 million euros. The first investment should be 50 million euros in the agricultural sector "in the next two months", with an investment of 350 million euros also in the pipeline by the end of the year.

☆ Brazil's BTG Pactual launches own dollar-backed stablecoin
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 4 (Reuters) - Brazil's BTG Pactual said on Tuesday it will launch a stablecoin priced in U.S. dollars at a parity of one to one, as it seeks to position itself in the digital assets market. The stablecoin, called BTG Dol, will be available on Mynt, the bank's crypto-asset platform, and through BTG Pactual's own investment system. A stablecoin is a type of cryptocurrency that is pegged to a stable asset as a way to reduce volatility. Now we have our own stablecoin," said Marcel Monteiro, Mynt's head of operations. Reporting by Paula Arend Laier; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Decree adds to doubts about Mexican lithium industry's future
▼ + stars: | 2023-02-24 | by ( Carolina Pulice | ) www.reuters.com time to read: +4 min

Last Saturday, President Andres Manuel Lopez Obrador signed his latest presidential decree on lithium, establishing a more than 900-square-mile (235,000 hectare) lithium mining zone in northern Sonora state, stating that existing concessions within it "remain safe." But the order also declared "no mining activity can be carried out related to lithium" within this area. Neither Lopez Obrador's office or Mexico's economy ministry, which was part of the decree, responded to a request for comment. Created last August, state-run LitioMx will likely launch further exploration efforts in the new mining zone, BTG Pactual analysts said in a research note. He emphasized the need to minimize political risks associated with the government's latest decree, if Mexican lithium has any hope of transforming its raw potential into a thriving industry with a long-term horizon.

☆ BTG Pactual joins Brazilian lenders hit by post-Americanas provisions
▼ + stars: | 2023-02-13 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 13 (Reuters) - Banco BTG Pactual SA (BPAC3.SA) on Monday became the latest Brazilian lender to be affected by bad credit provisions due to what it called a "specific, widely publicized event," likely referring to the bankruptcy of Americanas SA (AMER3.SA). BTG reported a quarterly net profit of 1.64 billion reais ($314.5 million), slightly down from 1.74 billion a year earlier and below the market consensus of 2.27 billion, according to analysts polled by Refinitiv. BTG's "good cost discipline" in the quarter helped reduce the impact of the provisions, JPMorgan said. "Despite all the challenges, we expect higher returns in 2023, with greater operating leverage and possibly even higher capital and liquidity levels," BTG Chief Executive Officer Roberto Sallouti said. ($1 = 5.2151 reais)Reporting by Gabriel Araujo; Editing by David Holmes, Kirsten Donovan and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Large Brazilian banks may set aside around $890 mln for Americanas losses in Q4
▼ + stars: | 2023-02-01 | by ( Aluisio Alves | ) www.reuters.com time to read: +1 min

SAO PAULO, Feb 1 (Reuters) - Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG Pactual , Bradesco (BBDC4.SA), Santander Brasil , Itaú Unibanco Holding (ITUB4.SA) and Banco do Brasil (BBAS3.SA) have around 15 billion reais in loans with Americanas, according to analyst reports. Analysts estimate the banks may provision around 30% of their loans in the fourth quarter, which would be equivalent to 4.5 billion reais ($890 million), even with bankruptcy protection taking place in January, as a precautionary measure allowed by the Brazilian central bank. The first Brazilian bank to release fourth quarter earnings, on Thursday, is Banco Santander Brasil. ($1 = 5.0544 reais)Reporting by Aluisio Alves; Writing by Tatiana Bautzerd; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Bankrupt Brazilian retailer Americanas owes about $8 bln, court finds
▼ + stars: | 2023-01-25 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Jan 25 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) owes a variety of creditors around $8 billion, a Rio de Janeiro court said on Wednesday, providing the most detailed picture yet of the banks and other groups exposed to the company's bankruptcy. The list provided on Wednesday includes roughly 41.2 billion reais ($8.1 billion) in debt, according to the court, which initially did not disclose the names of the creditors. Brazilian banks BTG Pactual (BPAC3.SA), Bradesco (BBDC4.SA) and Santander Brasil (SANB3.SA) - which analysts previously said were among the most exposed - were also listed, with debts of more than 3.5 billion reais each. Earlier this week, Capital International Investors also announced it had reduced its position in Americanas to 4.07% from 7.04%. Shares in Americanas were up 20% to 0.96 real on Wednesday, but still down roughly 90% year-to-date.

☆ Brazilian retailer Americanas reports 7,720 creditors, $8 bln in debt
▼ + stars: | 2023-01-25 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 25 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) reported 7,720 creditors and debt totaling nearly $8 billion within its restructuring process, a Rio de Janeiro court said on Wednesday. Deutsche Bank (DBKGn.DE) topped the list of creditors initially revealed by Americanas, but the German lender later said it had no lending relationship or credit exposure to the Brazilian company. The list provided on Wednesday included roughly 41.2 billion reais ($8.1 billion) in debt, according to the court, which initially did not disclose the names of the creditors. Later, however, Americanas revealed the full list in a securities filing, ranging from small debts with individuals and cities to multibillion-reais debts with banks. Deutsche Bank appeared with a $1 billion debt, but said in an emailed statement that it had no direct exposure to the Brazilian firm.

☆ Brazil's Americanas mulls filing for bankruptcy, shares tank as markets see move as imminent
▼ + stars: | 2023-01-19 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

Americanas said its current cash position stands at 800 million reais ($154.25 million). "The bankruptcy protection is unavoidable and might be one of the largest ever in Brazil, as complex as Oi's one." Oi SA (OIBR4.SA), a telecom firm, filed in June 2016 for Brazil's then-biggest ever bankruptcy protection and only exited it in December 2022. Last week, chief executive Sergio Rial resigned less than two weeks after taking the job citing the discovery of "accounting inconsistencies" totaling 20 billion reais. "Filing for bankruptcy protection is imminent and necessary," said Fernando Ferrer, an analyst at Empiricus Research, noting there could be a "cascade effect" of banks requesting to withhold money from the firm.

☆ Billionaire-backed Americanas files for bankruptcy protection, shares tank
▼ + stars: | 2023-01-19 | by ( Gabriel Araujo | ) www.reuters.com time to read: +4 min

SAO PAULO, Jan 19 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) on Thursday filed for bankruptcy protection, days after uncovering nearly $4 billion in accounting inconsistencies and amid a legal feud with creditors. In the filing, Americanas asks to exclude fintech Ame from the bankruptcy protection, as it is regulated by the central bank, and for authorization to increase its capital. Chief Executive Sergio Rial resigned last week, less than two weeks after taking the job, citing the discovery of "accounting inconsistencies" totaling 20 billion reais. Andre Luzbel, head of variable income at SVN Investimentos, said the bankruptcy protection was unavoidable, noting it would be one of the largest ever in Brazil, "as complex as Oi's one." Oi SA (OIBR4.SA), a telecom firm, filed in June 2016 for Brazil's then-biggest ever bankruptcy protection and only exited it in December 2022.

☆ Brazil's BTG gets court decision reversing part of Americanas' protection from creditors
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Jan 18 (Reuters) - Brazilian bank BTG Pactual obtained a court decision on Wednesday overturning part of Americanas SA's (AMER3.SA) protection from creditors, according to court documents seen by Reuters, in a move the retailer says "harms its viability". BTG confirmed the decision in a securities filing, but did not give details. Americanas told Reuters in a statement that the "unilateral action taken by its creditors harms its viability", adding it was still seeking a short-term solution for its creditors. Later on Wednesday, Brazilian lender Bradesco (BBDC4.SA) said it had asked a Rio de Janeiro court to only allow Americanas to withdraw funds from the bank with prior approval. Americanas confirmed that Bradesco withheld more than 450 million reais ($86.77 million) from the company's cash position, "acting in disagreement with the injunction" the retailer had obtained protecting it from creditors.

SAO PAULO, Jan 16 (Reuters) - Brazilian lenders BTG Pactual, Bradesco and Santander Brasil are among those most exposed to debt of Americanas SA (AMER3.SA), analysts' estimates showed on Monday, after the retailer obtained an injunction protecting it from creditors. Analysts at JPMorgan and Citi said in research notes that Banco Bradesco SA (BBDC4.SA) had the largest nominal exposure to the firm, while Banco BTG Pactual SA topped exposure as a proportion of loans. Considering JPMorgan's and Citi's estimates, BTG had a 1.9 billion-real exposure to Americanas, which was seen accounting for roughly 1.5% of its loans, while Bradesco had exposure of 4.7 billion reais, or 0.5% of loans. Banco Santander Brasil SA , the local unit of Spain's Banco Santander (SAN.MC), had 3.7 billion reais in exposure, or about 0.6% of loans. Sergio Rial, the outgoing Americanas chief executive who uncovered the accounting inconsistencies, is a former head of Santander Brasil, where he still serves as chairman of the board.

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