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☆ Stocks making the biggest moves midday: Walmart, Deere, Meta, Chubb and more
▼ + stars: | 2024-05-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The company said it now expects net income of roughly $7 billion, down from a range of $7 billion to $7.5 billion. Walmart — Shares rallied nearly 6% after the company reported adjusted first-quarter earnings of 60 cents per share, topping the 52 cents expected from analysts polled by LSEG. Chubb — Shares of the insurance company advanced nearly 4% after Warren Buffett's Berkshire Hathaway revealed Chubb was the confidential stock the conglomerate had been purchasing for two straight quarters. Berkshire bought nearly 26 million shares for about $6.7 billion, making it the second-largest holder in Chubb, according to a regulatory filing. GameStop , AMC — The meme stocks retreated for a second day following a speculative rally in the beginning of the week.

Persons: Chubb, Warren Buffett's Berkshire Hathaway, Goose, GoodRx, Raymond James, Samantha Subin, Alex Harring, Yun Li, Pia Singh Organizations: European Union, Facebook, Deere — Deere, Walmart —, LSEG, Revenue, Walmart, Berkshire, GameStop, AMC, UBS, AIG, Nippon Life Locations: Corebridge

TOKYO (AP) — Several major Japanese companies have decided to stop using stars who are represented by Johnny & Associates, an entertainment company at the center of a sexual assault scandal. Victims have come forward, demanding an apology and financial compensation from Johnny & Associates, which remains one of this nation’s most powerful entertainment companies. Critics say the mainstream news media kept silent because it didn’t want to lose access to Johnny’s stars for their programming. But public opinion has shifted dramatically in recent months, with the wave of companies dropping Johnny's expected to grow. Suntory Holdings said it will stop using Johnny’s personnel in its ads and has formally demanded improved corporate governance.

Persons: Johnny &, Junichi Okada, Toma Ikuta, Sho Sakurai, Johnny, Julie Keiko Fujishima, Johnny Kitagawa, Fujishima, Kitagawa, Hibiki, Hokuto, Atsushi Katsuki, Johnny's, ”, ___ Yuri Kageyama Organizations: TOKYO, Johnny, Johnny & Associates, Beverage, Asahi Group Holdings, Johnny’s, Japan Airlines, Nippon Life Insurance, Suntory Holdings, Asahi, Twitter Locations: Tokyo, SixTONES

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

That yen hoard has mostly been held as cash with the aim of ploughing into Japanese bonds when yields eventually turn higher. "We're all waiting for the end of YCC so we can buy JGBs," said a Japanese pension fund manager who requested anonymity as he is not authorized to speak to media. Japanese banks have ploughed money into overseas bonds, but insurance firms and pension funds have kept their powder dry. MARKETS WONT BLINKSuch is the positioning and inertia among long term Japanese investors that analysts expect markets to barely blink even if the BOJ plays for time this week. Lifers and pension funds say they have very little exposure to Japanese government bonds, so a surprise policy change won't hurt them either.

Persons: Androniki, Haruhiko Kuroda, Kazuo Ueda, Bart Wakabayashi, Hirofumi Suzuki, Suzuki, Kevin Buckland, Ankur Banerjee, Vidya Ranganathan Organizations: REUTERS, Bank of, Japan, Nippon Life Insurance, Sumitomo Life Insurance, Insurance, State, Thomson Locations: Japan, Tokyo, TOKYO, SINGAPORE, YCC, Singapore

☆ Exclusive: India regulator probes investments between Nippon Mutual Fund, Yes Bank, sources say
▼ + stars: | 2023-01-19 | by ( Jayshree Pyasi | ) www.reuters.com time to read: +4 min

MUMBAI, Jan 19 (Reuters) - An Indian regulator is investigating investments between Nippon India Mutual Fund, the largest foreign-owned fund in the country, and Yes Bank between 2016 and 2019 for suspected misuse of investors' money, sources said. SEBI's regulations say that the parent of a mutual fund cannot access investors' money either directly or indirectly. The current owner of the fund, Nippon India, as well as the previous owner could be liable, the sources said. As of December 2022, Nippon India was the fourth-largest mutual fund in India with assets under management of 2.9 trillion rupees ($35.46 billion) as well as the biggest foreign-owned mutual fund. On Friday, SEBI proposed further tightening of mutual fund regulations asking mutual fund owners to reduce their stake gradually as a measure to check their influence on investment decisions.

TOKYO, Oct 26 (Reuters) - Japanese life insurers plan to buy more super-long government bonds, enticed by the highest yields since 2014. Nippon Life, Japan Post Insurance and Sumitomo Life are among the insurers that have detailed their investment plans for the rest of the fiscal year-ending April at briefings over the past several days. Many insurers also plan to shift some money from currency-hedged holdings of foreign bonds into yen bonds, with hedging costs soaring. "We have already been shifting from hedged foreign bonds into JGBs, and we will continue to do so." "Anything above 1.5% and we can consider additional investment" in 30-year JGBs, said a representative from Sumitomo Life at a briefing on Tuesday.

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