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Meituan HSBC is bullish on Meituan and has a target price of 220 Hong Kong dollars ($28.30) on the stock, giving it 25.8% upside potential. "Despite the macro challenges, Meituan's growth profile remains resilient," said Charlene Liu, HSBC Global Research's head of internet and gaming research for Asia-Pacific. Calling it a "best-in-class small-cap" idea, HSBC Global Research's India health-care analyst Damayanti Kerai believes it is "well positioned to sustain healthy growth." Kia's shares have been on an uptrend, gaining around 8% in the last five days. HSBC has a target price of 160,000 Korean Won ($114.80) on the stock, implying nearly 63.1% upside potential.
Persons: Charlene Liu, Liu, Damayanti Kerai, Kerai, Will Cho, Cho, — CNBC's Michael Bloom Organizations: HSBC, Hong, HSBC Global Research's, Morningstar, Hong Kong Exchange, Krishna, Medical Sciences, Bombay Stock Exchanges, Kia, Korea Exchange, Won Locations: Asia, Hong Kong, U.S, HSBC Global Research's India, Korean, HSBC Global Research's Korea, EU
AdvertisementHSBC has reportedly asked some managers to reapply for their jobs as part of a cost-cutting restructure. Bloomberg reported Monday that hundreds of senior staff will likely lose their jobs. HSBC has asked some managers to reapply for their jobs in its newly created corporate and institutional banking division as part of a cost-cutting drive, Bloomberg reported. The biggest change announced was the simplification of HSBC's structure, creating Eastern and Western arms to manage its global operations. He previously told staff in October that they should expect job cuts following the announcement of the revamp, Reuters reported at the time, citing an internal memo.
Persons: Georges Elhedery, Elhedery Organizations: HSBC, Bloomberg, Business Insider, Business, Reuters Locations: Asia, Pacific, Americas, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade is what clients are calling us most about postelection, says HSBC's Gerry KeefeGerry Keefe, HSBC co-head of global banking, joins 'Money Movers' to discuss what to expect from global equity performance following Trump's election victory, what industries tariffs will target first, and much more.
Persons: HSBC's Gerry Keefe Gerry Keefe Organizations: HSBC
Watch CNBC's full interview with HSBC's Gerry Keefe
  + stars: | 2024-11-13 | 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 HSBC's Gerry KeefeGerry Keefe, HSBC co-head of global banking, joins 'Money Movers' to discuss what to expect from global equity performance following Trump's election victory, what industries tariffs will target first, and much more.
Persons: HSBC's Gerry Keefe Gerry Keefe Organizations: HSBC
Daruwala: HSBC's Senior leadership bitter about restructuring
  + stars: | 2024-10-30 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDaruwala: HSBC's Senior leadership bitter about restructuringCyrus Daruwala of IDC Financial Insights talks about HSBC's restructuring plans and the outlook for the Asian-focused British bank.
Persons: Cyrus Daruwala Organizations: IDC
HSBC Holdings Plc building at Canada Square in Canary Wharf financial district on 15th August 2023 in London, United Kingdom. Here are HSBC's results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:Pre-tax profit: $8.5 billion vs. $8 billion$8.5 billion vs. $8 billion Revenue: $17 billion vs. $16.2 billionHSBC's pre-tax profit represented a 10% rise from the $7.71 billion posted a year ago. Profit after tax came in at $6.7 billion, $500 million higher than the third quarter of 2023. The company's quarterly revenue grew 5% to $17 billion, compared to the $16.2 billion that was reported a year agoThe bank's fresh $3 million share buyback brings the total amount announced this year to $9 billion — $3 billion was announced in the first quarter and another $3 billion in the second quarter. Basic earnings per share for the quarter came in at 34 cents, higher than 29 cents in the same period a year ago.
Persons: LSEG, That's, Georges Elhedery Organizations: HSBC Holdings Plc, HSBC, Tuesday Locations: Canary Wharf, London, United Kingdom, Hong Kong, U.K
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . LVMH, the largest of the luxury conglomerates, announced its third-quarter earnings this week, and the results were grim. AdvertisementWhile personal luxury sales in China grew by more than 37% each year from 2019 through 2021, that annual growth is not expected to hit more than 4.2% through 2028, according to EMARKETER data. AdvertisementEMARKETER's Canaves pointed to the collaborations and moves toward streetwear that helped some brands emerge from the last luxury slump. Of course, any expansion into new categories should not take attention from handbags and clothing, the revenue drivers of luxury brands.
Persons: LVMH, , Louis Vuitton, Salvatore Ferragamo, Goldman Sachs, Gucci, Hermès, Jean, Jacques Guiony, Adam Cochrane, Chanel, Canaves, Guiony, Birkin, Deutsche Bank's Cochrane, Cartier, Brunello Cucinelli, Rambourg, Louis Organizations: Service, Revenue, Louis, Burberry, Business, Deutsche Bank, Gucci, Deutsche Bank's, Chez Locations: China, Asia, Japan, COVID, streetwear, Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings expectations are way too low and markets will swing higher, says HSBC's Max KettnerMax Kettner, HSBC chief multi-asset strategist, joins 'Money Movers' to discuss the strategist's thoughts on equity performance ahead of the election, what could go wrong in today's economic environment, and much more.
Persons: HSBC's Max Kettner Max Kettner Organizations: HSBC
HSBC has high hopes for the third quarter earnings season and is sure that some stocks will do better than others. In the three months ended June 30, nearly 79% of companies in the S & P 500 beat analysts' earnings expectations, while 60% of companies in the index posted an upside surprise to Wall Street revenue forecasts. Ahead of the third-quarter earnings season, HSBC recently listed its favorite stocks to buy, where it believes market expectations are low and there are opportunities. More than half the analysts covering Target give the stock a buy rating, and the average price target implies 16% upside. The average price target corresponds to upside of just 3% or so, based on the same FactSet survey.
Persons: Daniela Bretthauer's, Bretthauer, Stephen Bersey's, Bersey, Wesley Brooks, Brooks, Morgan Stanley Organizations: HSBC, BlackRock, JPMorgan, Wells, Financial, Citigroup, PNC Financial Services, Netflix, Procter, Gamble, Wall, Target, Oracle Cloud Infrastructure, Oracle, 3M, 3M's Locations: Wells Fargo, Minnesota, Target's, Friday's
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Both West Texas Intermediate and Brent futures retreated 4.63% during U.S. trading hours Tuesday, halting the red-hot rally oil prices have experienced the past week. The central bank's likely to make another half-point cut in November, Paul Bloxham, HSBC's chief economist for Australia and New Zealand, told CNBC. On the back of such turbulence, CNBC Pro asks two strategists whether now's the time to invest in China.
Persons: It's, Paul Bloxham, HSBC's Organizations: Central, CNBC, Technology, Nasdaq, Google, U.S . Department of Justice, U.S, The New York Times, West Texas Intermediate, Brent, Reserve Bank of New, CSI, CNBC Pro Locations: New York, United States, Jerusalem, Israel, Zealand, Reserve Bank of New Zealand, Australia, New Zealand, China
Dealmaking activity has picked up, but it's not been enough to fully unlock Morgan Stanley shares. Morgan Stanley ended Friday within a dollar of its all-time closing high of $108.73 reached back in February 2022. Friday's positive developments are welcome news – but not enough to add clarity on our path forward for Morgan Stanley. For the time being, the Club is taking a wait-and-see approach with Morgan Stanley stock. If there is a surge in IPO and M & A activity that HSBC forecasted, Morgan Stanley is well-positioned to benefit.
Persons: Morgan Stanley, Jim Cramer, Morgan Stanley's, Jim, Goldman Sachs, it's, Wells, We're, Morgan, Banks, Dan Simkowitz, Jim Cramer's, Bing Guan Organizations: HSBC, KBW, CNBC, Bloomberg, Getty
HSBC says buy this data center stock as AI drives growth
  + stars: | 2024-10-04 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
HSBC thinks Equinix could see strong growth ahead thanks to strong demand for artificial intelligence data centers. The company operates as a real estate investment trust (REIT) that focuses primarily on data centers. Kanumuri upgraded the data center stock to buy from hold and raised his price target to $1,000 per share from $865. "However, we see this as a value-accretive opportunity for Equinix to accelerate growth and improve revenue per data center in 2025." Of the 27 covering Equinix, 21 rate it as a buy or a strong buy.
Persons: Equinix, Phani Kanumuri, Kanumuri Organizations: HSBC, Microsoft Locations: Equinix
Cramer's Lightning Round: 'Do not sell Cracker Barrel'
  + stars: | 2024-09-30 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Cracker Barrel's year-to-date stock performance. Stock Chart Icon Stock chart icon Redwire's year-to-date stock performance. Stock Chart Icon Stock chart icon Cava's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextracker's year-to-date stock performance. Stock Chart Icon Stock chart icon HSBC's year-to-date stock performance.
Persons: Julie Masino, I've, Jim Cramer's Organizations: BellRing, HSBC Locations: Cava
HSBC: RBA unlikely to cut rates before Q2 next year
  + 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 EmailHSBC: RBA unlikely to cut rates before Q2 next yearPaul Bloxham, HSBC's Chief Economist of Australia, New Zealand & Global Commodities, talks about Australia's struggle with persistent inflation, especially in the housing space.
Persons: Paul Bloxham Organizations: HSBC, Global Commodities Locations: Australia, New Zealand
Smart glasses, many with components made in China, are emerging as an up-and-coming category as the fall consumer technology product season gets underway. Snap has revealed augmented reality glasses ; Meta is expected to do so at its own event starting Sept. 25. The Facebook-parent's Ray-Ban Meta Smart Glasses are already seeing traction, HSBC's Frank He, head of technology hardware research for mainland Chinese stocks, pointed out in a report earlier this month. The roughly $300 Ray-Ban Meta smart glasses allow users to take pictures, short video clips, listen to music and interact with Meta's AI features, according to promotional materials. For the year through July, the optical company's non-smartphone camera module shipments surged about 61%, which HSBC attributes to "brisk sales" of Ray-Ban Meta Smart Glasses.
Persons: parent's Ray, Frank He, Sunny, Ray, Sunny Optical's, — CNBC's Michael Bloom Organizations: HSBC, Ray, U.S, Hong, JPMorgan, HK Locations: China, Hong Kong, Vietnam, India, Europe, U.S, Friday's
By extension, the move in Washington, D.C. could also spell good news for Chinese stocks. High U.S. interest rates relative to China have made it fairly straightforward for global institutions to pick U.S. Treasurys over Chinese stocks. More than lower rates needed Other global investors say Chinese stocks need more than easier monetary policy to become truly attractive. The "government can push interest rates down, but if households don't want to spend the extra income, it won't go into the economy," he said. Earlier this year, People's Bank of China Governor Pan Gongsheng acknowledged U.S. Fed easing would create room for China to further cut interest rates.
Persons: Steven Sun, Laura Wang, Morgan Stanley, Aaron Costello, Yi Gang, Costello, James Wang, Wang, Pan Gongsheng Organizations: U.S . Federal Reserve, HSBC, HSBC Qianhai Securities, Nasdaq, U.S, Treasury, Cambridge Associates, CNBC, People's Bank of China, UBS Investment Bank Research, UBS, Hang Seng China Enterprises, China Southern Airlines, Hengli Petrochemical, Saudi, Aramco Locations: China's, Washington ,, China, 1H24, Asia, U.S, Beijing, Hang, Shenzhen, Shanghai
The latest global market volatility has reinforced China's status as a distinct market, even if its growth has slowed recently. While U.S. tech stocks plunged and Japanese stocks swung wildly in a historic two days of price action , Chinese stocks suffered less . The investors remained net buyers of Chinese stocks for the third quarter so far as of Aug. 6, the data showed. Finally, the low correlation of the China stock market with the U.S. stock market could provide investors with diversification benefits." Chinese stocks, especially those traded on the mainland, have historically been less correlated to global market moves due to Beijing's capital controls and other restrictions.
Persons: Matt Wacher, William Yuen, Invesco, That's, Steven Sun, Paul Christopher, Morningstar's Wacher, it's, Wacher Organizations: Nasdaq, Nikkei, Morningstar Investment Management, U.S, HSBC, Technology, Shanghai —, Bank of, Federal Reserve, Treasury, HSBC Qianhai Securities, National Bureau, Statistics, Wells, Wells Fargo Investment Institute, Index Locations: Asia, U.S, Shanghai, China, Pacific, EPFR, Hong Kong, Bank of China, Wells Fargo
"Each of these strengths contributed to a good revenue performance in the first half of 2024, supported by higher interest rates." Hong Kong-listed shares of HSBC were up 2.84% at 07:56 a.m. London time in the wake of the earnings beat. The first-half figure nevertheless came in well above the $20.5 billion average of broker estimates compiled by HSBC, according to Reuters. "The strong performance of the business gives us the confidence to say that we'll be mid-teens return in 2025 as well," Quinn told CNBC. "This headwind will be partially offset by hedging and balance sheet growth, but this growth is unlikely to be remarkable.
Persons: Noel Quinn, HSBC's Quinn, , Quinn, there's, Jefferies, Benjamin Toms, Toms, CNBC's Ganesh Rao Organizations: HSBC, Securities Financing, Global Banking, London and New York Stock Exchanges, Reuters, Wednesday, CNBC, Capital Locations: Hong Kong, London, Britain
With billions at stake, that's pretty much been a guarantee facing the current market leaders, Eli Lilly and Novo Nordisk , from the start. Their updates are likely to be joined by others in the coming months even as today's incumbents develop their own next-generation weight loss treatments. Other analysts have also grown more optimistic about the future of weight loss treatments. Orforglipron, a once-a-day oral GLP-1 drug that Lilly is working on, had shown a 3% weight loss at 4 weeks. The company is also exploring whether the weight loss treatment could be given only once a month.
Persons: Eli Lilly, drugmakers Roche, Lilly, Denmark's, Trung Huynh, Huynh, Rajesh Kumar, Kumar, Novo, Roche, Roche ADRs, Justin Zelin, Zelin, Viking's, HSBC's Kumar, Novo aren't, , Nick Wells Organizations: Novo Nordisk, Viking Therapeutics, UBS, HSBC Global Research, Carmot Therapeutics, Food and Drug Administration, Viking, European Association for, Diabetes, Pfizer, Amgen, Therapeutics Locations: Swiss, Novo, San Antonio, Spain
Harris is 59 and was born October 20, 1964 — putting her just weeks outside the Gen X range which is generally thought to span 1965 to the early 1980s. His successor has not been confirmed, but one name being floated is his Gen X lieutenant Stephanie Pope. Could the House of Mouse soon have its first Gen X leader? The picture is not completely clear on how Gen X bosses differ from their predecessors on issues such as remote work and the role of AI in the workplace. AdvertisementIt won't be long, though, until Gen X has a majority grip over power.
Persons: , Gen, Joe Biden's, Kamala Harris, Harris, Xer —, XCX, Joe Biden, Justin Sullivan, boomer Barack Obama, Donald Trump, Sen, JD Vance, Bush, Clinton, Biden, Obama, John McCain, Mitt Romney, HSBC's, Noel Quinn, Georges Elhedery, Xer, David Calhoun, Stephanie Pope, Dave Calhoun, Aaron Schwartz, Gen X, Ron Vachris, Craig Jelinek, Macy's, Tony Spring, Xers, Jamie Dimon, David Solomon, Goldman Sachs, Bob Iger, boomer Bob Chapek, Iger, Brendan McDermid, Tim Cook, Steve Jobs, Jensen Huang, Dimon, Jenn Piepszak, Troy Rohrbaugh, X'ers, JPMorgan Chase, Alex Brandon, Mouse, We'll Organizations: Service, Democratic Party, Business, Democratic, Trump, Boeing, Gen, Gen X Costco, Microsoft, Google, Walmart, Tesla, ExxonMobil, JPMorgan, Blackstone, septuagenarians, Disney, Apple Locations: BlackRock, Silicon Valley, America
HSBC's London office will get a radical makeover due to hybrid working. The project shows how property owners are trying to adapt buildings for changing working patterns. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The rise of hybrid work means many companies now have largely empty offices in buildings that are worth far less than they were just a few years ago. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Wharf, Business Locations: London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed rate cuts expectations are enough to be tailwinds for risk assets, says HSBC's Max KettnerMax Kettner, HSBC Global Research chief multi-asset strategist, joins 'Closing Bell' to discuss when investors need to be risk-on in their portfolios.
Persons: HSBC's Max Kettner Max Kettner Organizations: HSBC Global Research
Strong consumer demand has helped the U.S. economy weather the Federal Reserve's rate hikes, avoiding a hard landing where growth and employment turn lower. The high-end consumer Inui estimates the net worth of high-end consumers is actually accelerating to a high-single-digit rate. "As a result, discount retailers are facing high shrinkage, restaurants are becoming increasingly promotional to boost traffic and retailers with strong value propositions are gaining share." HSBC called McDonald's one of the stocks that offers "a strong value proposition" to consumers tightening their belts. Another retailer HSBC named was Target , which has an "expect more, pay less" strategy emphasizing private labels to boost sales.
Persons: HSBC's, Nicole Inui, Hilton, Marriott, Inui, Innui, — CNBC's Michael Bloom Organizations: HSBC, Viking Holdings, Worldwide Holdings, Marriott International, Royal, Motors Locations: U.S, Americas, Royal Caribbean
When luxury giant LVMH shelled out $15.8 billion for storied jewelry company Tiffany in 2021, it faced outsize expectations. On the luxury resale site The RealReal, Tiffany is the most-searched jewelry brand of 2024 so far. Meanwhile at Tiffany, LVMH is using a team of Cartier veterans. Growing pains have tarnished TiffanyBut reviving a luxury brand isn't easy, and investors have been murmuring that Tiffany's turnaround hasn't met expectations. "When you go into a Tiffany store, you're going to expect to have that amazing experience in customer service."
Persons: , Blake Lively, Gabrielle Union, Hailey, Katy Perry, Tiffany, That's, haven't, Bernard Arnault, they're, Cartier, it's, — hasn't, Arnault, Abraham Lincoln, Mary Todd, Theodore Roosevelt, LVMH, Fflur Roberts, HSBC's Rambourg, Cindy Ord, Rambourg, Bernard Arnault's baguette, Euromonitor's Roberts, Bulgari, Jelena Sokolova, Morningstar, China —, Roberts, Jeremy Moeller, Vierig, It's, Van, Taylor Swift, Chiara Battistini, " Roberts, There's, Battistini, Audrey Hepburn, — it's, LVMH's Tiffany, Hailey Bieber, Taylor Hill, Sokolova, I'm Organizations: Service, Business, LVMH's, HSBC, Bloomberg, Getty, Cartier, Fifth, Nike, McKinsey Locations: Manhattan, China, Asia, Paris, Tiffany, influencers, LVMH's
But there's another corporation beating LVMH at its own game, and you probably haven't even heard of it: Richemont. Switzerland-based Richemont, behind brands like Cartier, Van Cleef & Arpels, and Piaget, is having a moment. "All of this favors the most established brands: Cartier and Van Cleef." Driven by Richemont's top brands, Cartier and Van Cleef, sales gained 7% in the country, including Hong Kong and Macau, in Richemont's 2024 fiscal year. "If you're in a bar or restaurant, you're sitting at a distance, you can recognize the Labra pendant from Van Cleef.
Persons: , Louis Vuitton, Bernard Arnault's, Van Cleef, Piaget, outperforming LVMH, Saint Laurent, It's, Cartier, Chiara Battistini, it's, Gucci, Arnault, Johann Rupert, Rupert, Richemont, Fflur Roberts, HSBC's Rambourg, Diana —, Tim Graham, Jelena Sokolova, Morningstar, Rambourg, Euromonitor's Roberts, Van, Keith Tsuji, Sokolova, Cleef, Nicolas Bos, — Bos, Nicholas Bos, Jared Siskin, I've, What's, JPMorgan's Battistini, Bos, Porter Organizations: Service, LVMH, Business, Cartier, Gucci, HSBC, Google, JPMorgan, Credit Suisse, Deloitte, Local, Art Basel, McKinsey, Prada Locations: Switzerland, China, Euromonitor, Hong Kong, Macau, Art Basel Hong Kong, Asia
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