DIRS.INFO The most relevant business & tech news

☆ Street note lifts cybersecurity stocks, supports our call to own two names in sector
▼ + stars: | 2024-10-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The analyst raised its price target on Palo Alto Networks to $446 (a new Street high) from $421, Check Point Software to $183 from $170, and Fortinet to $105 from $69 while naming it a top pick. There was no action on recent portfolio addition CrowdStrike because the note's focus was on network security. The Morgan Stanley note reinforces our decision to own both Palo Alto Networks and CrowdStrike. With Palo Alto Networks, it's a couple of quarters away from the beginning of a product refresh cycle. Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022.

Persons: Jim Cramer, Bonds, Morgan, CrowdStrike, Morgan Stanley's, Morgan Stanley, Lockheed Martin, Jim Cramer's, Jim, Arora Nikesh, Adam Galica Organizations: CNBC, Federal Reserve, Palo Alto Networks, Alto, Security, Logitech, Zions Bancorp, GE Aerospace, Verizon, GM, Jim Cramer's Charitable Locations: Treasuries, Palo, Davos, Switzerland

☆ Here are the 5 things that could move the stock market in the week ahead
▼ + stars: | 2024-10-20 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Earnings drove the stock market higher — can they do it again in the week ahead? But he acknowledged that timing is key because our portfolio discipline mandates that we consider lightening up our stock exposure in an overbought market. In fact, AMD was our worst-performing stock for the entire week, losing more than 7% following the prior week's 1.8% slide. Energy was the worst sector of the week for the market as oil prices sank. In the week ahead, housing numbers are the main draw on the economic front.

Persons: Jim Cramer, ASML, Morgan Stanley, WTI, industrials, We're, Sartorius, Danaher, we're, Stanley Black, Lockheed Martin, Philip Morris, Clark, Baker Hughes, Lam, DOV, CARR, Davidson, Northrop, Edwards Lifesciences, Jim Cramer's, Jim, Stocks, Tuesday's, Spencer Platt Organizations: Dow, Nasdaq, Netflix, Modelo, Corona, Constellation Brands, Taiwan Semiconductor Manufacturing Company, Nvidia, AMD, Broadcom, Club, Abbott Laboratories, Energy, Texas, Honeywell, Danaher, Federal Reserve, Treasury, SAP, Logitech, Verizon, General Motors, GE Aerospace, GE, Lockheed, Quest Diagnostics, Norfolk Southern, Polaris, Seagate Technology, Texas Instruments, Canadian National Railway Company, Boeing, GE Vernova, Fisher, Boston, General Dynamics, Hilton, Lam Research, Business Machines, IBM, Newmont, Viking Therapeutics, Vista Energy, Mattel, O'Reilly Automotive, Whirlpool, American Airlines, United Parcel Service, Southwest Airlines, Tractor Supply Company, Carrier Global, Dow Chemical, DOW, Harley, Union Pacific, Valero Energy, Hasbro, Northrop Grumman, Ryder, Boyd Gaming, Western, Boston Beer Company, York Community Bancorp, Colgate, Palmolive, Newell Brands, Jim Cramer's Charitable, CNBC, NEW, Traders, New York Stock Exchange, Getty Locations: BlackRock, CrowdStrike, U.S, Dover, Freeport, McMoRan, Kimberly, Norfolk, Las, ORLY, VALE, New York City

☆ Stocks making the biggest moves midday: Netflix, Apple, CVS Health, Lamb Weston, U.S. Cellular and more
▼ + stars: | 2024-10-18 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Separately, CVS issued third-quarter adjusted earnings guidance between $1.05 and $1.10 per share, far weaker than the FactSet consensus estimate of $1.69 a share. MGP Ingredients — Shares tumbled 26% after MGP Ingredients, a distilled spirits producer, issued preliminary third-quarter earnings and revenue guidance that missed expectations. Earnings of $1.23 per share missed the FactSet consensus estimate of $1.34 in earnings per share. Comerica reported $1.33 in earnings per share, compared to $1.17 per share expected by analysts, according to FactSet. Still, adjusted earnings of 89 cents per share beat the expected earnings per share of 88 cents.

Persons: Lamb Weston —, Jana Partners, Lamb Weston, David Joyner, Karen Lynch, LSEG, LSEG ., Riley, Ally, FactSet, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Netflix, U.S . Cellular, Telephone, Data Systems, U.S, Cellular, Verizon Communications, CVS, MGP, American, Apple —, Bloomberg, Counterpoint Research, Western, Western Alliance, LSEG, LSEG . Fifth Third, Fifth Third Bancorp, Comerica, Holdings Locations: U.S, China

☆ Stocks making the biggest moves premarket: American Express, Procter & Gamble, Netflix, CVS Health and more
▼ + stars: | 2024-10-18 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The household goods maker posted $21.74 billion in revenue while analysts polled by LSEG had estimated $21.91 billion. WD-40 — The maintenance product maker's shares fell 4% after a disappointing fiscal fourth-quarter earnings report. Despite posting a top-line beat of $823 million in revenue versus LSEG analysts' estimates for $808 million, net interest income fell 3% in the third-quarter. Revenue of $9.16 billion fell below the $9.25 billion LSEG consensus forecast. Ally Financial – The digital bank stock fell nearly 1% despite earnings beating analysts' estimates in the third quarter.

Persons: Gamble, LSEG, David Joyner, Karen Lynch, B.Riley, SLB, Schlumberger, FactSet, — CNBC's Pia Singh, Sarah Min, Jesse Pound, Michelle Fox Organizations: Procter, Netflix, CVS, FactSet, Western Alliance Bancorp, Apple, Bloomberg, Crown Holdings, Holdings, Comerica Locations: China

☆ Stocks making the biggest moves midday: United Airlines, Morgan Stanley, ASML, Prologis and more
▼ + stars: | 2024-10-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter.

Persons: United, Morgan Stanley, Novocure, J.B, Hunt, LSEG, Aspen Aerogels, FactSet, Prologis, Hamid Moghadam, —, Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh, Michelle Fox Organizations: Food and Drug Administration, United Airlines, Revenue, Cisco Systems, Citi, Food, ASML, J.B Hunt, Aspen, of Energy, U.S . Bancorp, General Motors, Lithium Americas Corp Locations: Dutch, U.S

☆ Earnings will drive the stock market in the week ahead. That's a good thing
▼ + stars: | 2024-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

In Friday's look at wholesale inflation, the producer price index was unchanged month over month . We'll hear from Club holdings Morgan Stanley and Abbott Laboratories on Wednesday morning. Morgan Stanley: The ongoing recovery in investment banking will be front and center. That was a key theme in the second quarter , and the hope is that the July-to-September period showed a continuation of the trend for Morgan Stanley. Morgan Stanley has been strong lately, though.

Persons: Jim Cramer, Jim, Gamble, — Wells, industrials, Goldman Sachs, ASML, Morgan Stanley, Morgan Stanley's, Louis, Abbott, Charles Schwab, Johnson, JB Hunt, Kinder Morgan, Huntington, Jim Cramer's, Charly Triballeau Organizations: Club, Dow Jones, Nasdaq, Procter, Federal, JPMorgan, —, Tech, . Utilities, UnitedHealth, Taiwan Semiconductor Manufacturing, Abbott Laboratories, Abbott Labs, NEC, Abbott, Food and Drug Administration, Walgreens Boots Alliance, Citigroup, Bank of America, United Airlines, Interactive, US Bancorp, Citizens, Alcoa, PPG Industries, CSX, Truist, Netflix, Crown Holdings, American Express, Gamble, CNBC, New York Stock Exchange, Financial, Afp, Getty Locations: Wells, U.S, Wells Fargo, St, Taiwan, New York City

☆ Warren Buffett's Bank of America position goes under wraps. Here's what could happen next
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].

Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S

☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ Berkshire slashes Bank of America stake to under 10%, no longer required to disclose frequently
▼ + stars: | 2024-10-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July. The move brings his holdings down to 775 million shares, or a stake of about 9.987%. Since the holding is now under the key 10% threshold, Berkshire is no longer required to report its related transactions in a timely manner. The next 13F filing in mid-November will only reveal Berkshire's equity holdings as of the end of September. Bank of America CEO Brian Moynihan previously said the market is absorbing the stock, aided by the bank's own repurchasing.

Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, Buffett, Omaha's, Brian Moynihan, Goldman Sachs, Wells, It's, digitalization, fintech Organizations: Berkshire, Bank of America, U.S . Securities, Exchange Commission, SEC, JPMorgan, U.S . Bancorp Locations: Omaha , Nebraska, Bank, Berkshire, Wells Fargo, U.S

☆ Stocks making the biggest moves midday: EchoStar, CVS Health, Stellantis and more
▼ + stars: | 2024-09-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.'s stake in Nio China to 88.3% from its current 92.1%. CVS Health — Shares jumped 3.3% on news that hedge fund Glenview Capital intends to meet with CVS Health's executives to boost the struggling business. Crypto stocks — Stocks tied to the price of bitcoin retreated with the cryptocurrency following a sizeable rally last week. Cumberland Hospital for Children and Adolescents is an "indirect subsidiary" of Universal Health Services, according to an 8-K filing.

Persons: Nio, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, EchoStar, Piper Sandler, Stephen Scouten, — CNBC's Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh Organizations: Nio Inc, GM, Ford, CVS, —, Glenview Capital, CNBC, DirecTV, Amerant, Moderna, Universal Health Services, Cumberland Hospital for Children Locations: U.S, China, Glenview, Florida

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Tesla, Meta, Disney, Apple, Uber, JPMorgan Chase & more
▼ + stars: | 2024-09-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.

Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24

Elsewhere, TD Cowen raised its price target on Costco to $975. 7:04 a.m.: TD Cowen raises Costco price target TD Cowen is even more bullish on Costco after hosting the company's leadership for a post-earnings meeting. Analyst Brian Bedell reiterated his buy rating and lifted his price target by $3 to $27, implying about 13% upside. With that, analyst Stephen Scouten upgraded Amerant to overweight from neutral and raised his price target by 50 cents to $25.60. — Pia Singh 5:50 a.m.: TD Cowen upgrades Accenture Investors should buy shares of Accenture as the company's recovery gains steam, according to TD Cowen.

Persons: Morgan Stanley, TD Cowen, Cowen, Oliver Chen, Costco's, Chen, Gary Millerchip, — Pia Singh, Brian Bedell, Bedell, Robinhood, Wells, Donald Fandetti, Fandetti, Piper Sandler, Amerant, Stephen Scouten, Scouten, JPMorgan Chase, Betsy Graseck, Graseck, NIM, Bryan Bergin, Bergin, Fred Imbert Organizations: CNBC, JPMorgan Chase, Accenture, Costco, Deutsche Bank, American, Amerant, JPMorgan, Services Locations: Florida, Friday's

☆ How Warren Buffett decides when to sell a stock, and why he might be dumping Bank of America
▼ + stars: | 2024-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.

Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors

☆ Stocks making the biggest moves premarket: Micron Technology, Starbucks, CarMax and more
▼ + stars: | 2024-09-26 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Starbucks — The coffee chain rose more than 2% after Bernstein upgraded the stock to outperform from market perform. New York Community Bancorp — Shares of the regional lender gained more than 4% after Barclays upgraded shares to overweight as it repositions itself following a rocky patch. Micron Technology , chip stocks — Micron shares surged nearly 17% after offering a stronger-than-expected revenue forecast for the fiscal first quarter. Nvidia rose 2%, while U.S.-traded shares of ASML Holding added nearly 5%. Southwest Airlines — The travel stock rose about 5% after Southwest hiked its third-quarter revenue forecast.

Persons: Bernstein, Brian Niccol, Graham Doyle, Bilibili, Goldman Sachs, Jefferies, Elliott, Sonos, Morgan Stanley, Erik Woodring, —, Alex Harring, Samantha Subin, Jesse Pound, Sarah Min Organizations: New York Community Bancorp, Barclays, Micron Technology, Micron, Nvidia, ASML, Bank of America, NRG Energy, GE Healthcare Technologies, UBS, Jefferies, Southwest Airlines, Southwest, Elliott Management Locations: U.S, China, Bilibili —, dealmaking

Analyst Jared Shaw raised his rating on the regional bank to overweight from equal weight and upped his price target by $4 to $14. Analyst Rob Dickerson downgraded the chocolate maker to underperform from hold and slashed his price target by $21 to $163. Analyst Lincoln Kong upgraded U.S.-listed shares to buy from neutral and raised his price target to $22.60 from $16.50. — Alex Harring 5:51 a.m.: BofA hikes Meta price target following Connect event Bank of America sees more room for Meta Platforms to run due to its artificial intelligence possibilities. Starbucks shares are flat year to date, but they have popped more than 20% over the past three months.

Persons: Bernstein, Jared Shaw, NYCB, Shaw, — Alex Harring, Sell Hershey, Jefferies, Rob Dickerson, Dickerson, flatlining, Hershey, Alex Harring, BofA, Ralph Lauren, Christopher Nardone, Justin Picicci, Corey Van der, Nardone, Picicci, Goldman, Bilibili Goldman Sachs, Lincoln, Kong, Bilibili, Justin Post, Post, Metaverse, Meta, Brian Niccol, Danilo Gargiulo, Gargiulo, Niccol, — Fred Imbert Organizations: CNBC, . Bank of America, Barclays, Bancorp New, Bancorp New York Community, Wall, Hershey, America's, Lincoln Kong, Bank of America, Facebook, Meta, Orion, Taco Bell Locations: Bancorp New York, Wednesday's, Thursday's premarket, Bilibili, U.S

☆ Why Matrix CIO is chasing Becton Dickinson and US Bancorp
▼ + stars: | 2024-09-24 | 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 EmailWhy Matrix CIO is chasing Becton Dickinson and US BancorpDavid Katz, chief investment officer at Matrix Asset Advisors, joins 'The Exchange' to discuss his picks in the markets, how to position for the future, and more.

Persons: Becton Dickinson, Bancorp David Katz Organizations: Bancorp, Matrix Asset

☆ Traders see small caps and short-term bonds as big winners from likely Fed rate cut
▼ + stars: | 2024-09-18 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Traders and investors are debating if the Federal Reserve will cut 25 basis points or 50 basis points when the decision comes at 2pm eastern time. "25 or 50 (basis points), we see a credible case for either. "The Fed is likely to adjust policy by 200 to 250 basis points over the coming year. Garewal also said this rate cut was part of a "normalization" cycle and shared research that yields on the 2-year fall 65 basis points on average after a first Fed cut.

Persons: Jerome Powell, Mark Smith, Wells, stagflation, Smith, Craig Johnson, Piper Sandler, Russell, Johnson, Goldman Sachs, Garewal, Piper Sandler's Johnson, Huntington, Kevin Murphy Organizations: PRO, Worldwide, Traders, Federal Reserve, Advisors, Worldwide Exchange, Blackstone, Mastercard, Visa, Ameris Bancorp, Fed, Ferguson Enterprises

☆ Stocks making the biggest moves premarket: Moderna, Alaska Air, Oxford Industries and more
▼ + stars: | 2024-09-12 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines before the bell: Alaska Air Group — Shares gained 5% after Alaska Air Group raised its third-quarter outlook, citing strong summer demand. The airline guided for per-share earnings in the range of $2.15 and $2.25, greater than prior guidance of $1.40 to $1.60 earnings per share. Moderna — Shares shed more than 6% after the drugmaker announced plans to slash expenses by $1.1 billion by 2027. Oxford Industries — Shares dropped 10% after the clothing company behind Tommy Bahama posted second-quarter figures that missed expectations. Oxford Industries posted adjusted earnings of $2.77 per share, lower than the FactSet consensus estimate of $3 earnings per share.

Persons: Moderna, Tommy Bahama, Kroger —, —, Alex Harring, Hakyung Kim, Jesse Pound, Samantha Subin Organizations: Alaska Air Group —, Alaska Air Group, Oxford Industries, Interpublic, Companies, UBS, U.S, Bancorp, U.S . Bancorp, Kroger, Diageo, Bank of America Locations: U.S

☆ Stocks making the biggest moves midday: Kroger, Petco, Moderna, Roku and more
▼ + stars: | 2024-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

That builds on Wednesday's post-earnings rally of nearly 33%, which marked the stock's best day on record. Moderna — The stock plummeted nearly 16% after the drugmaker said it will cut $1.1 billion in expenses by 2027. Interpublic Group of Companies — The advertising stock was trading 2% lower following a downgrade from UBS to sell from neutral. U.S. Bancorp — The bank stock slipped nearly 2% despite announcing a dividend hike and a $5 billion share buyback plan. Oracle – Shares of the software company rose nearly 2% after Bernstein named it a top investment idea .

Persons: Kroger –, Kroger, Moderna, Adam Berlin, Bernstein, Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kailai Han, Sarah Min Organizations: Kroger, Moderna, Gilead Sciences, Alaska Air Group, Interpublic, Companies, UBS, Amazon, Pfizer, Bancorp, Diageo, Bank of America, Wolfe Research, Oracle – Locations: Gilead, Alaska, U.S

☆ Ryan: Banks make money on the shape of the yield curve. That benefits banks.
▼ + stars: | 2024-09-10 | 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 EmailRyan: Banks make money on the shape of the yield curve. That benefits banks. James Ryan, Old National Bancorp's CEO, discusses rising capital requirements, interest rate pressures, and how Old National Bank is insulated from real estate risks

Persons: Banks, James Ryan Organizations: National, National Bank

☆ Trading Fed rate cuts: These banks are primed to outperform when rates fall, Evercore ISI says
▼ + stars: | 2024-08-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

A few well-known regional banks are poised to benefit from the Federal Reserve's upcoming interest rate cuts, according to Evercore ISI. Fed Chair Jerome Powell indicated on Friday that the central bank is ready for interest rate cuts ahead , although he declined to provide the exact timing or extent of the cuts. As investors await the Fed's moves, Evercore ISI used its updated asset/liability committee scenarios and several banks' net interest income commentary to find which names appear strongest in a lower interest rate environment. According to the note, Comerica, U.S. Bancorp and Fifth Third each forecast two interest rate cuts this year. Comerica shares dipped more than 10% on July 19 after the company posted its second-quarter results.

Persons: Jerome Powell, John Pancari, Pancari, Curtis Farmer, Truist Organizations: Federal, ISI, Comerica, Truist Financial, U.S . Bancorp, Fifth Third Bancorp, FactSet Locations: U.S

☆ 23% of low-income Americans are living without a bank account
▼ + stars: | 2024-08-02 | by ( Genna Contino | ) www.cnbc.com time to read: +5 min

"When they don't see a financial institution or a bank, [they] tend to say, 'There's no avenue for me this way. Of 18- to 29-year-olds, 11% are living without a bank account, compared to 9% of 30- to 44-year-olds, 5% of 45- to 59-year-olds and 2% of people 60 and older, according to the Federal Reserve. People without bank accounts might also turn to check cashing services or consider payday loans, especially if they're the only brick-and-mortar financial services in their neighborhood. The Community Financial Services Association of America, which represents payday lenders, did not respond to a request for comment. "They're going out into the community, they're promoting their services into the community, they're creating programs specifically for the community," he said.

Persons: Sean Gladwell, Wole Coaxum, Joe Lugo, Lugo, that's, Darrin Williams, Williams, Harris, Winnie Sun, It's, Sun, Preston Duppins, Duppins, They're Organizations: Federal Reserve, Southern Bancorp, Inc, Finance, Sun, Wealth Partners, CNBC, Federal Deposit Insurance Corp, Federal Deposit Insurance Corporation, American Fintech Council, Wealth Management, Community Financial Services Association of America, Chamber, Commerce Locations: Clearwater , Florida, U.S, Irvine , California, Florida, Lugo, Pinellas County

☆ Overall sentiment for regional banks has gone up in anticipation for rate cuts, says Krista Snelling
▼ + stars: | 2024-07-30 | 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 EmailOverall sentiment for regional banks has gone up in anticipation for rate cuts, says Krista SnellingAndrew Samuel, LINKBANCORP CEO; Krista Snelling, West Coast Community Bancorp CEO; and Robert Franklin, Stellar Bancorp CEO, join CNBC's 'The Exchange' to discuss outlooks for regional banks, impacts from Fed rate moves, and more.

Persons: Krista Snelling Andrew Samuel, Krista Snelling, Robert Franklin, CNBC's Organizations: West Coast Community Bancorp, Stellar Bancorp Locations: West

☆ Watch CNBC's full interview with Andrew Samuel, Krista Snelling, & Robert Franklin
▼ + stars: | 2024-07-30 | 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 EmailWatch CNBC's full interview with Andrew Samuel, Krista Snelling, & Robert FranklinAndrew Samuel, LINKBANCORP CEO; Krista Snelling, West Coast Community Bancorp CEO; and Robert Franklin, Stellar Bancorp CEO, join CNBC's 'The Exchange' to discuss outlooks for regional banks, impacts from Fed rate moves, and more.

Persons: Andrew Samuel, Krista Snelling, Robert Franklin Andrew Samuel, Robert Franklin, CNBC's Organizations: West Coast Community Bancorp, Stellar Bancorp Locations: West

Berkshire Hathaway dumped more Bank of America shares this week, making it six straight trading days that Warren Buffett's conglomerate has reduced its stake in the bank. Over the last six trading sessions, Berkshire has unloaded 52.8 million Bank of America shares worth $2.3 billion, reducing the stake to 12.5%. Berkshire still owns 980.1 million Bank of America shares with a market value of $41.3 billion, a distant second to its $172.5 billion holding in Apple. The bank stock is up more than 25% in 2024, compared to almost 14% for the S&P 500. It marked the first time since the fourth quarter of 2019 that Berkshire cut its Bank of America stake.

Persons: Berkshire Hathaway, Warren, Buffett, Goldman Sachs, Wells, Brian Moynihan Organizations: of America, Berkshire, Oracle, Omaha, Bank of America, JPMorgan, U.S . Bancorp Locations: The Omaha , Nebraska, Berkshire, Apple . Berkshire, Charlotte, Wells Fargo, U.S

Search resuls for: "Bancorp"

25 mentions found