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Top related persons:
Michael Perito - 3 Perito - 3 KBW - 1 SoFi - 1 — CNBC's Michael Bloom - 1 Estee Lauder - 1 Adrienne Yih - 1 Incyte - 1
Top related locs:
2Q23 China Monday's Jakafi Refinitiv Austin Boston Southern California
Top related orgs:
FactSet - 1 SoFi Technologies - 1 Barclays - 1 Body - 1 Caterpillar — - 1 Caterpillar - 1 Merck — - 1 Pfizer - 1

Search resuls for: "Michael Perito"


4 mentions found


☆ Take profits on SoFi after recent rally, KBW says
  + stars: | 2023-08-01 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Investors should sell their SoFi holdings after the stock has more than doubled in just a few months, KBW said. Analyst Michael Perito downgraded the financial technology stock to underperform from market perform while simultaneously hiking his price target for shares by $2 to $7.50. Still, Perito's new price target implies shares could tumble 34.5% from where they finished Monday. "We believe valuation has overshot the fundamental earnings outlook," Perito said in a note to clients Monday. SoFi posted a loss of 6 cents per share when accounting for GAAP, while analysts polled by FactSet forecasted 7 cents lost per share.
Persons: KBW, Michael Perito, Perito, SoFi, — CNBC's Michael Bloom Organizations: FactSet Locations: 2Q23
☆ Stocks making the biggest moves premarket: Uber, Gap, Caterpillar & more
  + stars: | 2023-08-01 | by ( Pia Singh | ) www.cnbc.com   time to read: +4 min
Gap — The retail stock climbed nearly 4% after Barclays upgraded Gap to overweight from equal weight. Incyte — Shares rose 2% after Incyte beat analysts' expectations in its latest results. The pharmaceutical company reported second-quarter revenue of $954.6 million, exceeding the FactSet consensus estimate of $909.7 million. ZoomInfo Technologies — Shares sank by nearly 20% in premarket trading after the data company reported a weak outlook for third-quarter revenue. Arista Networks — Shares advanced 13.6% in premarket trading after the company reported after the bell Monday that its quarterly earnings topped analysts' expectations.
Persons: Michael Perito, Perito, Estee Lauder, Adrienne Yih, Incyte, Herve Hoppenot, Dara Khosrowshahi, Merck, Monday's, Macheel, Alex Harring, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: SoFi Technologies, Barclays, Body, Caterpillar —, Caterpillar, Merck —, Pfizer, Toyota, Refinitiv, Arista Networks —, Arista, Revenue Locations: China, Monday's, Jakafi, Refinitiv
☆ Customers Bancorp acquires $631 mln loan portfolio from FDIC at discount
  + stars: | 2023-06-16 | by ( Manya Saini Saeed Azhar | Manya Saini | Saeed Azhar | ) www.reuters.com   time to read: +2 min
June 16 (Reuters) - Customers Bancorp (CUBI.N) said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar with the matter told Reuters. Customers Bancorp shares rose on the news to their highest level since early March, and were up 3.3% at $30.23 at midday. On March 12, state regulators closed New York-based Signature Bank, marking this year's second high-profile bank collapse sparked by an exodus of depositors seeking higher returns and safer institutions. Following the bank's closure, the FDIC had announced in April the marketing process for the roughly $60-billion loan portfolio retained in receivership from Signature Bank.
Persons: Michael Perito, Keefe, Perito, Manya Saini, Saeed Azhar, Shailesh Kuber, Richard Chang Organizations: Customers Bancorp, Deposit Insurance Corporation, Signature Bank, Reuters, FDIC, Bancorp, Loans, Bank, New York Community Bancorp, Thomson Locations: Austin, Boston, Southern California, Chicago, New York, Bengaluru
☆ Instant View: Silvergate's planned liquidation fuels another crypto rout
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +3 min
MARKET REACTION:Shares of crypto-related companies fell on Thursday, as the bank's collapse sparked a crisis of confidence in the industry. Silvergate shares were down 26% while peer Signature Bank (SBNY.O) and former Silvergate partner Coinbase Global Inc (COIN.O) fell 8% each. I think this could have significant implications for crypto regulations in the U.S. and banks' ability to deal with digital asset platforms and cryptocurrency brokerages." "One of the largest of these banks was Silvergate, which positioned itself as a crypto-friendly institution. Indeed, this pressure is making it increasingly challenging for crypto businesses and traders to operate within the United States."
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