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☆ Jim Cramer prefers Mondelez over this food peer — plus, his take on 4 more stocks
▼ + stars: | 2024-08-12 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

The deal will help improve Key's balance sheet, Jim Cramer said. Robinhood : Shares rose more than 4% after Piper Sandler upgraded the brokerage firm's stock to a buy rating. Prologis : Shares fell a little over 1% after Bank of America downgraded the stock to a hold rating. Qualcomm shares were down about 1% Monday. General Mills : Shares were slightly lower despite Goldman Sachs initiating coverage of the stock with a buy rating.

Persons: Jim Cramer's, Jim Cramer, Piper Sandler, Cramer, Jim, I'm, General Mills, Goldman Sachs, Mills Organizations: CNBC, Club, Canada's Scotiabank, Bank of America, Qualcomm, Wolfe Research, Apple, Mondelez Locations: Cleveland

The Bank of Nova Scotia (Scotiabank) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. It also disrupted Canada's prestigious Giller Prize Gala on Nov. 14, a literary award sponsored by Scotiabank. It claims in its petition that Scotiabank is the biggest foreign shareholder in Elbit, whose weapons were heavily used during Israel's 11-day operation in Gaza in May 2021. The email said Scotiabank was "not the biggest shareholder of Elbit, nor is it the biggest foreign shareholder of Elbit. Eko said it would not comment on the protests at Scotia branches and has not taken part in the protests.

Persons: Chris Wattie, Eko, unitholders, Angus Wong, Wong, Bezhalel Machlis, Nivedita Balu, Denny Thomas, David Gregorio Our Organizations: of Nova, REUTERS, Rights TORONTO, Bank of Nova, Elbit Systems, Scotiabank . Toronto Police, Scotiabank, Global Asset Management, Management, Vanguard Group, BlackRock Institutional Trust, Israel Ministry of Defence, Israel MOD, Thomson Locations: of Nova Scotia, Ottawa , Ontario, Canada, Bank of Nova Scotia, Israel, Elbit, Gaza, Toronto, Scotia

[1/2] A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada, Dec. 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOct 18 (Reuters) - Bank of Nova Scotia (BNS.TO) on Wednesday announced plans to cut about 2,700 jobs globally - 3% of its workforce - and take a C$590 million ($430.94 million) charge in the fourth quarter, making it the latest Canadian bank to take cost-cutting steps in a challenging environment. Royal Bank of Canada (RY.TO) and Bank of Montreal (BMO.TO) similarly have cut hundreds of jobs in response to rising costs in a high interest rate environment. Scotiabank said the layoffs will result in a restructuring charge and severance provisions of about C$247 million. Analysts said the charge does not come as a surprise amid a review of is strategic direction.

Persons: Carlos Osorio, Scott Thomson, Darko Mihelic, Jaiveer Singh, Balu, Will Dunham, Shilpi Majumdar, Jonathan Oatis Organizations: The Bank of, Scotiabank, REUTERS, Bank of Nova, Wednesday, Royal Bank of Canada, Bank of Montreal, China's, China's Bank of Xi'an, Analysts, RBC Capital, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, China's Bank, Bengaluru, Toronto

☆ Canada's Scotiabank profit falls on capital market slump, provisions
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - Bank of Nova Scotia (Scotiabank) (BNS.TO) reported a lower first-quarter profit on Tuesday, as a lull in its investment banking division dented income from its capital markets unit and compelled the Canadian lender to set aside higher provisions. Canada's central bank over the past 11 months has lifted interest rates at a record pace to 4.5% to tame inflation, which was 6.3% in December, still well above the bank's 2% target. Scotiabank booked provisions of C$638 million, up from C$222 million a year ago, as it braces for increased odds of more loan defaults in a rising interest rate environment. Canada's third-largest lender reported overall net profit of C$1.77 billion, or C$1.36 a share, compared with C$2.74 billion, or C$2.14 a share, last year. read more($1 = 1.3566 Canadian dollars)Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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