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☆ This sector is loved by Wall Street for its attractive yields and relative value
▼ + stars: | 2024-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

High interest rates have been a boon to Americans holding cash, but many on Wall Street are cautioning investors to start thinking ahead. People have been piling into cash vehicles like money market funds and certificates of deposit since the Federal Reserve started hiking interest rates. Interest rates appear to be staying higher for longer, with the Federal Reserve on Wednesday projecting only one rate cut this year. Agency MBS have a duration of about six years, per the Bloomberg US MBS Index as of June 3, Jones noted. Right now, the residential mortgage-backed securities sector looks attractive because of its relative value compared to investment-grade corporate bonds, he said.

Persons: Jones, Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Wells Fargo, Luis Alvarado, Alvarado, Falconio Organizations: Federal Reserve, Investment Company Institute, Schwab Center, Financial Research, Agency MBS, Bloomberg, MBS, UBS, Wells, Wells Fargo Investment Institute, Investors, corporates, UBS America's, AAA Locations: UBS Americas, Wells, Wells Fargo

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Some options trades for avoiding an asset bubble and other macroeconomic troubles
▼ + stars: | 2024-01-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.

Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire

☆ Life insurers binge on US financing aimed at helping housing
▼ + stars: | 2023-12-05 | by ( Koh Gui Qing | ) www.reuters.com time to read: +8 min

It has been predominantly used by life insurers, because they need to boost their investment returns with cheap funding to meet long-term liabilities. They provide the cheap funding to banks and insurers in exchange for collateral to ensure they get their money back. Insurers are entitled to tap FHLB funding. Insurers’ borrowing from FHLBs picked up in 2008 financial crisis, as those that spread themselves thin with aggressive investments scrambled for cash. They did not explain why insurers need FHLB funding to invest in mortgages.

Persons: Sarah Silbiger, Ryan Donovan, CMBS, Lawrence White, White, Graphics JUICING, Cynthia Beaulieu, Cornelius Hurley, Hurley, FHLBs, ’, Michael Ericson, Jack Dolan, Koh Qui, Greg Roumeliotis, Anna Driver Organizations: REUTERS, Loan, Federal Housing Finance Agency, of Federal Home Loan, FHLBs, FHLB, National Association of Insurance, New York University, MetLife Inc, Equitable Holdings Inc, Corebridge, Brighthouse Financial, MetLife, TIAA, Equitable, Graphics, Wellington Management, Boston University School of Law, Coalition, Silicon Valley Bank, First, American, of, Insurance Coalition, Reuters, Thomson Locations: Washington , U.S, U.S, Boston, Silicon, First Republic, Chicago, New York

[1/2] A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. A lawyer for BNY Mellon also declined to comment. They have long said their contracts shielded them from liability for RMBS losses, and that particularly sophisticated investors should have known the risks. In its December 2015 complaint, Commerzbank accused BNY Mellon of sitting "idly" as losses piled up, rather than force lenders to buy back and servicers to address troubled loans. The case is Commerzbank AG v. The Bank of New York Mellon et al, U.S. District Court, Southern District of New York, No.

Persons: Brendan McDermid, Germany's, George Daniels, Commerzbank's, Dave Wollmuth, BNY Mellon, Commerzbank, Daniels, The Bank of New York Mellon, Jonathan Stempel, Grant McCool Organizations: REUTERS, Bank of New York Mellon, District, BNY Mellon, Countrywide, NovaStar, BNY, New York, CDO, Commerzbank, The Bank of New York, Court, Southern District of, Thomson Locations: New, U.S, Manhattan, Barrington, Southern District, Southern District of New York, New York

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File PhotoWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis. The largest settlement, $16.65 billion, was reached in 2014 with Bank of America (BAC.N), which had bought mortgage specialist Countrywide Financial six years earlier. Credit Suisse, which UBS bought in June, reached a similar $5.28 billion settlement in 2017. In a press release, UBS said it previously set aside reserves to cover the $1.43 billion payout.

Persons: Arnd, RMBS, Attorney Breon, Kanishka Singh, Jonathan Stempel, Mark Porter, Jonathan Oatis Organizations: Swiss, UBS, WASHINGTON, U.S . Department of Justice, Bank of America, Countrywide Financial, Credit Suisse, U.S, Attorney, Thomson Locations: Zurich, Brooklyn, Washington, New York

☆ UBS to pay $1.4 billion over fraud in residential mortgage-backed securities
▼ + stars: | 2023-08-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Swiss bank UBS agreed to pay a combined $1.4 billion in civil penalties over fraud and misconduct in its offering of residential mortgage-backed securities dating back to the global financial crisis, federal prosecutors announced Monday. The cumulative recoveries in the cases now total $36 billion, according to the Justice Department. UBS' settlement is nearly the same as the value of the residential mortgages it originated between 2005 and 2007, the year it stopped issuing residential mortgage-backed securities. UBS originated $1.5 billion in residential mortgages in those three years, the bank previously said in a 2018 statement challenging the Justice Department allegations. "The vast majority of loans underlying the 40 RMBS listed in the complaint were originated by other financial institutions," UBS said at the time.

Persons: Goldman Sachs Organizations: UBS, U.S . Department of Justice, Justice Department, The, Bank of America, Citigroup, General Electric, JPMorgan, Wells, Wells Fargo . Credit Suisse Locations: Wells Fargo ., Swiss

☆ Buy this under-the-radar chip stock, which can see upside of more than 20%, Jefferies says
▼ + stars: | 2023-05-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

An under-the-radar chipmaker could yield more than 21% upside as the company takes a broader share of the market, according to Jefferies. Rambus stock closed at $53.55 on Wednesday, and shares have gained a staggering 64% from the start of the year. In Jefferies' bull case, the stock could jump by about 50%, but it could fall about 32% in the firm's bear scenario. Lipacis thinks that the DDR5 segment of Rambus' business could drive revenue over the next four years by 15%. RMBS YTD mountain Rambus stock.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, Netflix, Walmart, Nvidia, FedEx, Meta & more
▼ + stars: | 2023-05-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi names Meta top pick Citi said Meta is its new top pick pick based on the strength of its ad platforms. Jefferies reiterates Amazon as buy Jefferies said it sees a "strong AI opportunity" for the e-commerce giant. " "We believe upcoming results from FedEx next month can be a meaningful positive catalyst for shares. Citi reiterates Tesla as neutral Citi said its recent survey checks show Tesla has an "impressive loyalty lead." Jefferies reiterates Walmart as buy Jefferies said the big box giant is still a top pick after its robust earnings report on Thursday morning. "

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☆ Credit Suisse has 'learnt nothing' from 2008 crash, London court told
▼ + stars: | 2023-04-20 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, April 20 (Reuters) - Credit Suisse (CSGN.S) was accused on Thursday of having "learnt nothing" from the 2008 financial crisis on the first day of a trial at London's High Court over residential mortgage-backed securities. The Jersey-registered company said in court filings that it bought the notes because of Credit Suisse's "false and dishonest representations" about their value. Loreley's lawsuit, which was filed in 2018, long pre-dates Credit Suisse's takeover by its rival UBS (UBSG.S) last month. However, Credit Suisse argued in court filings that the settlement with the DOJ "makes no reference to dishonesty, fraud, knowing misrepresentation or anything of that kind". Its lawyer Patrick Goodall added that, if Loreley is correct, "then it is not merely Credit Suisse which was running a wholly dishonest business – many of the allegations made against Credit Suisse were matters which were replicated across the entire industry".

☆ Wall Street's rising stars admit their biggest career mistakes — from missing out on lucrative bets to taking too much on — and what they learned from them
▼ + stars: | 2022-10-24 | by ( Alex Morrell | Alyson Velati | Asia Martin | ) www.businessinsider.com time to read: +17 min

Vinay Trivedi, a vice president at General Atlantic focusing on the technology sector. I don't think we necessarily transitioned fast enough to how people learn if we're only doing audio from home. - David Israel, 27, vice president at Credit SuisseAngel Pu Shum is a principal within Warburg Pincus's technology group. -Allison Boxer, 29, senior vice president and economist at PIMCONoah Zerance, a vice president with Bank of America's global sustainable-finance group. and the response would be, 'Well, we don't know how we do it yet.

A clock is seen near the logo of Swiss bank Credit Suisse at the Paradeplatz square in Zurich, Switzerland October 5, 2022. Abu Dhabi and Saudi Arabia were weighing up, through their sovereign wealth funds, whether to put money into Credit Suisse's investment bank and other businesses, Bloomberg reported. A spokesperson for Credit Suisse declined to comment, reiterating that it will update on its strategy review when it announces third-quarter earnings. The largest Middle Eastern sovereign fund investor in Credit Suisse, the Qatar Investment Authority, declined to comment. The New Jersey case was the largest of its remaining exposure on its legacy RMBS business, Credit Suisse said, with five remaining cases, all far smaller, still in litigation.

☆ Credit Suisse pays $495 mln to settle legacy U.S. case
▼ + stars: | 2022-10-17 | by ( John Revill | ) www.reuters.com time to read: +4 min

The latest RMBS case, brought by the New Jersey Attorney General, alleged Credit Suisse had "misled investors and engaged in fraud or deceit in connection with the offer and sale of RMBS." "Credit Suisse is pleased to have reached an agreement that allows the bank to resolve the only remaining RMBS matter involving claims by a regulator," the bank said in a statement. "The settlement, for which Credit Suisse is fully provisioned, marks another important step in the bank’s efforts to pro-actively resolve litigation and legacy issues." The New Jersey case was the largest of its remaining exposure on its legacy RMBS business, Credit Suisse said, with five remaining cases at various stages of litigation. The U.S. Justice Department is also investigating whether Credit Suisse continued helping U.S. clients hide assets from authorities, eight years after the Swiss bank paid a $2.6-billion tax evasion settlement.

☆ Credit Suisse pays $495 million to settle legacy case
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Oct 17 (Reuters) - Credit Suisse (CSGN.S) has agreed to pay $495 million to settle a case related to pre-2008 transactions linked to its residential mortgage-backed security (RMBS) business, the bank said on Monday. The attorney general's office had claimed more than $3 billion in damages in a case which was filed in 2013. "Credit Suisse is pleased to have reached an agreement that allows the bank to resolve the only remaining RMBS matter involving claims by a regulator and the largest of its remaining exposures on its legacy RMBS docket," the bank said in a statement. "The settlement, for which Credit Suisse is fully provisioned, marks another important step in the bank’s efforts to pro-actively resolve litigation and legacy issues." Register now for FREE unlimited access to Reuters.com RegisterReporting by John Revill; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

LONDON, Oct 7 (Reuters Breakingviews) - For Masayoshi Son the biggest question is not where to list Arm, but when. Son is leaning towards listing Arm in the United States, home of big tech companies like Apple (AAPL.O) and Tesla (TSLA.O). One option would be for Arm to list in London while offering American Depositary Receipts to U.S. investors. Take a selection of U.S. and European chip companies which play different roles across the supply chain: Nvidia, Advanced Micro Devices , Intel (INTC.O), Rambus (RMBS.O) and ASML (ASML.AS). Son said there were also requests to list Arm in London without elaborating on where they came from.

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