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Elsewhere, TD Cowen raised its price target on Costco to $975. 7:04 a.m.: TD Cowen raises Costco price target TD Cowen is even more bullish on Costco after hosting the company's leadership for a post-earnings meeting. Analyst Brian Bedell reiterated his buy rating and lifted his price target by $3 to $27, implying about 13% upside. With that, analyst Stephen Scouten upgraded Amerant to overweight from neutral and raised his price target by 50 cents to $25.60. — Pia Singh 5:50 a.m.: TD Cowen upgrades Accenture Investors should buy shares of Accenture as the company's recovery gains steam, according to TD Cowen.

Persons: Morgan Stanley, TD Cowen, Cowen, Oliver Chen, Costco's, Chen, Gary Millerchip, — Pia Singh, Brian Bedell, Bedell, Robinhood, Wells, Donald Fandetti, Fandetti, Piper Sandler, Amerant, Stephen Scouten, Scouten, JPMorgan Chase, Betsy Graseck, Graseck, NIM, Bryan Bergin, Bergin, Fred Imbert Organizations: CNBC, JPMorgan Chase, Accenture, Costco, Deutsche Bank, American, Amerant, JPMorgan, Services Locations: Florida, Friday's

☆ Stocks making the biggest moves midday: EchoStar, CVS Health, Stellantis and more
▼ + stars: | 2024-09-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.'s stake in Nio China to 88.3% from its current 92.1%. CVS Health — Shares jumped 3.3% on news that hedge fund Glenview Capital intends to meet with CVS Health's executives to boost the struggling business. Crypto stocks — Stocks tied to the price of bitcoin retreated with the cryptocurrency following a sizeable rally last week. Cumberland Hospital for Children and Adolescents is an "indirect subsidiary" of Universal Health Services, according to an 8-K filing.

Persons: Nio, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, EchoStar, Piper Sandler, Stephen Scouten, — CNBC's Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh Organizations: Nio Inc, GM, Ford, CVS, —, Glenview Capital, CNBC, DirecTV, Amerant, Moderna, Universal Health Services, Cumberland Hospital for Children Locations: U.S, China, Glenview, Florida

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Tesla, Meta, Disney, Apple, Uber, JPMorgan Chase & more
▼ + stars: | 2024-09-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.

Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24

☆ These bank stocks are cheap and expected to rally
▼ + stars: | 2024-07-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

These bank stocks are cheap and expected to jump, according to CNBC Pro. The bank stock has underperformed this year, down more than 7%. But it's expected to surge 19% to its consensus price target, and has a forward P/E of 10.6. The stock is expected to gain 17% from here, and looks relatively cheap with its 10.1 forward P/E. It has a forward P/E of just 8.4.

Persons: Wells, Goldman Sachs, Morgan Stanley, It's, Stephens Organizations: CNBC Pro, Citigroup, JPMorgan Chase, Bank of America, Silicon Valley Bank, Regional Banking, CNBC, KBW Nasdaq, U.S, Bancorp, U.S . Bancorp, Western Alliance, East West Bancorp Locations: Wells Fargo, Silicon

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Meta, Alphabet, Amazon, RH, Netflix & more
▼ + stars: | 2024-07-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Goldman Sachs reiterates Alphabet and Meta as buy Goldman said it's sticking with its buy rating on shares of Alphabet and Meta. Bank of America reiterates Apple as buy Bank of America said its checks show App Store revenue increasing for Apple. KeyBanc reiterates Nvidia as overweight KeyBanc said it's sticking with its overweight rating on Nvidia shares. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla shares. " "We initiate coverage on JMIA with a Buy rating and a PT of $14."

Persons: Goldman Sachs, Goldman, Stifel, Jefferies, TD Cowen, it's, Piper Sandler, Piper, KeyBanc, Raymond James, Exscientia, Cowen, Morgan Stanley, Wolfe, Markel, it's bullish, Robinson, Tesla Organizations: Amazon, Netflix, YouTube, Mobile, Bank of America, " Bank of America, Apple, Nvidia, UBS, Group, Citizens, Investment, Ventures, Mizuho, First Bancorp, of America, JPMorgan, Technologies, Pan Locations: destocking, UW, F3Q, SensorTower, BRX, Puerto Rico, Pan -

☆ Investors may be looking at commercial real estate risk all wrong and missing these opportunities
▼ + stars: | 2024-06-16 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

The threat from a looming wave of maturing commercial real estate loans has been well telegraphed to investors, but it's possible the metrics they are using to protect themselves from risk are flawed. Many investors have been avoiding bank stocks with high concentrations of commercial real estate (CRE) exposure. Investors have been punishing regional bank stocks, especially when the bank's commercial real estate exposure tops more than 300% of its total equity . While the latter two have some exposure to New York City real estate, both banks benefit from strong management teams, he said. (New York real estate markets are navigating both falling office values as well as the dynamics of rent-regulated multifamily properties.)

Persons: Erika Najarian, Stephens, Matt Breese, Breese, Webster, Najarian, Piper Sandler, Scott Siefers, Siefers, generalists Organizations: Owners, KBW, Regional Banking, UBS, Federal Deposit Insurance Corp, Federal Reserve, Kansas City Fed, NBT Bancorp, Webster, National Bancorp, Micron Technology, Financial Group, Citizens Locations: New York City, York, . Connecticut, New, New York, Providence, R.I

☆ How East West Bancorp has gained an edge by serving the Asian American community
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.

Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, —, Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington

☆ Regulators Seize Republic First, a Troubled Philadelphia Bank
▼ + stars: | 2024-04-26 | by ( Kashmir Hill | More About Kashmir Hill | ) www.nytimes.com time to read: 1 min

Regulators late Friday seized Republic First Bancorp, a troubled Philadelphia lender, in the first U.S. bank failure this year. Republic First Bancorp, known as Republic Bank, had about $4 billion in deposits at the end of January and assets worth $6 billion, the Federal Deposit Insurance Corporation said in a statement. said, with Republic First’s 32 branches in Pennsylvania, New Jersey and New York reopening as soon as Saturday as Fulton Bank branches. Founded in 1988, Republic First was smaller than the midsize banks that collapsed last year — including First Republic Bank and Silicon Valley Bank, whose assets each topped $200 billion. expects the cost to the Deposit Insurance Fund to be $667 million.

Organizations: First Bancorp, Republic First Bancorp, Republic Bank, Federal Deposit Insurance Corporation, Fulton Bank of Lancaster, Fulton Bank, First Republic Bank, Silicon Valley Bank, Deposit Insurance Fund Locations: Philadelphia, U.S, Republic, Pa, Pennsylvania , New Jersey, New York

☆ These undervalued dividend stocks are poised for a rebound, according to Wall Street
▼ + stars: | 2024-04-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors looking for income along with potential capital appreciation may want to check out a few underperforming dividend stocks. Still, dividend stocks tend to do well during periods of economic recovery, which is now underway, Bank of America said recently . At least 51% of analysts covering these stocks rate them a buy or overweight, and the names have at least 10% upside to the average price target, according to FactSet. Here are those stocks: Mondelez currently has a 2.4% dividend yield and 20% upside to the average price target. About 65% of the analysts covering the stock rate it a buy or overweight, per FactSet.

Persons: Savita Subramanian, Mondelez, Dirk Van de, Christopher Del Moral, Niles Organizations: Bank of America, CNBC, Oreo, Ritz, Chesapeake Energy, Southwestern Energy, East West Bancorp Locations: U.S, Europe, snacking, Marcellus Shale, East

☆ Buy these 10 bank stocks now before the Federal Reserve cuts interest rates, according to Bank of America
▼ + stars: | 2024-03-24 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Plus, falling interest rates and continued economic growth would be tailwinds. The aforementioned catalysts are still in place — including interest rate cuts, as investors discovered a day earlier. Until then, the firm believes bank stocks can outperform into the first-quarter earnings season. 6 regional bank stocks worth buyingThe continued rally in financials will be powered in large part by regional banks, BofA believes. "We see the capital markets momentum continuing into 2025, which should drive investor interest in both stocks," Poonawala wrote.

Persons: Financials, Ebrahim Poonawala, Poonawala, BofA, Goldman Sachs, Morgan Stanley, Wells Fargo, Charlie Scharf, Jamie Dimon Organizations: of America, Business, Federal Reserve, Investors, Bank of America, First Bancorp, FNB Corp, Truist, US Bancorp, Western Alliance, JPMorgan, Wall, titans Locations: financials, Wells Fargo

☆ Higher rates raising ‘downside risks’ for regional banks, warns Bank of America
▼ + stars: | 2024-02-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The danger of higher rates for longer following the latest hot inflation reading raises the "downside risk" for regional banks, according to Bank of America. "Fewer and later Fed rate cuts pose downside risk to bank stocks," analyst Ebrahim Poonawala wrote in a Tuesday note. "We are especially concerned about the failure of the broader market to project the trajectory of interest rates – a consistent theme since the Fed began raising interest rates in March 2022." "We worry about the risk from no rate cuts in 2024 and a far more elevated level of interest rates across the UST yield curve," Poonawala added. Net interest margin is the difference between the interest banks earn on loans and pay on deposits.

Persons: Ebrahim Poonawala, Poonawala, Goldman Sachs, BNY Mellon, — CNBC's Michael Bloom Organizations: Bank of America, Federal, Treasury, Silicon Valley Bank, Fed, UST, Regional Banking, Regional Banking ETF, JPMorgan, BNY, U.S . Bancorp, First Bancorp Locations: Silicon, U.S, Puerto Rico

☆ Short sellers increasing their bets against regional banks amid NYCB's woes
▼ + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

New York Community Bank 's ongoing struggles have increased investors' anxiety around the regional bank sector. Official short-selling data from the exchanges that would encompass the latest regional bank fallout has not yet been released. The short crowding on NYCB shares surged to 70% in the week ended Feb. 2, up from 45% the prior week. S & T Bancorp 's short crowding score has jumped to 83% in the week ended Feb. 2, which marks a 37% increase from the prior week. and CrossFirst Bankshares ' short crowding scores have risen 30% each to 69% and 71%, respectively.

Persons: Hong Li, Li, Simmons, CrossFirst, Norman Lowery, —, Michael Bloom Organizations: York Community Bank, Citi Research, Citi, T, P Global, T Bancorp, LSEG, Financial Corp, CrossFirst, Financial, CFB Locations: Midwest, CFB YTD

☆ These stocks could be the hardest hit if Treasury yields don't come down, says Piper Sandler
▼ + stars: | 2024-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

If higher Treasury yields persist, Piper Sandler believes certain stocks could see their earnings at risk. The yield on the 10-year Treasury rose as high as 4.16% on Monday after hitting a low around 3.8% last week. The 10-year Treasury was last hovering at the 4.09% level. The firm looked for stocks with a high correlation to the 10-year Treasury yield and downbeat earnings revisions, based on a proprietary EPS revisions ratio. Pharmaceutical stock Bristol-Myers Squibb has a comparatively lower correlation value of 0.188 to the 10-year yield.

Persons: Piper Sandler, Jerome Powell, Russell, Charles Schwab, Myers Squibb Organizations: Federal Reserve, Treasury, Piper, Bank of America, Bank, LSEG, East West Bancorp, West Bancorp, Oil, Pharmaceutical, Bristol, Myers Squibb, Redburn Locations: Bristol

☆ Stocks making the biggest moves after hours: Netflix, Texas Instruments, Intuitive Surgical and more
▼ + stars: | 2024-01-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Netflix — The streaming service jumped 8.5% after the company reported 13.1 million new subscribers, pushing its total membership count to an all-time high of 260.8 million paid subscribers. The company reported $2.11 earnings per share on $8.83 billion in revenue. Intuitive Surgical — The stock advanced 5% after the company posted a beat on top and bottom lines. The company reported a 21% year-over-year jump in procedures using its da Vinci robotic surgery technology. The regional bank posted $1.69 earnings per share, coming in 5 cents below analysts' estimates, according to FactSet.

Persons: LSEG Organizations: Netflix, Texas, East West Bancorp, East West

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, GM, Uber, Carvana, Nike, Palo Alto & more
▼ + stars: | 2023-12-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Wells Fargo downgrades Lululemon to equal weight from overweight Wells said in its downgrade of the stock that it sees less balanced risk/reward. Morgan Stanley downgrades Sea Limited to equal weight from overweight Morgan Stanley downgraded the Singapore-based tech conglomerate until its business outlook is clearer. Morgan Stanley upgrades Insulet to overweight from equal weight Morgan Stanley initiated the insulin pump therapy company and said it sees room for further gains. Wells Fargo reiterates Nike as overweight Wells says Nike is a top defensive pick for 2024. Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said Palo Alto shares have the poten tial to rise further.

Persons: Morgan Stanley, Mizuho, Wells, LULU, Roth, Evercore, Piper Sandler, Piper, NVDA, Goldman Sachs, Goldman, it's bullish, KeyBanc, Worthington Enterprises –, TD Cowen, Coinbase, underperform TD Cowen, Oppenheimer, Uber, Truist, Herc, Palo Organizations: West Bancorp, Bank of America, Union Pacific, US Bancorp, Motors, Mizuho, GM, UAW, UBS, Apple, Deutsche Bank downgrades Anheuser Busch InBev, Deutsche, Deutsche Bank, Airlines, Alaska, " Bank of America, Google, Walmart, Nvidia, AMD, European Partners, Coke, JPMorgan, of America, Magellan, MMP, Arrowhead Pharmaceuticals, Arrowhead Pharma, Worthington Steel, Worthington Industries, Worthington Enterprises, Barclays, Resources, Herc Holdings, United Rentals, Nike, Palo Alto, Palo Locations: China, Singapore, Indonesia

☆ Monday's analyst calls: 30% upside for GM, Carvana upgrade, Anheuser-Busch downgrade
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.

Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A

☆ Bank stocks could be the hot year-end trade if peak rates prove a 'mini clearing event'
▼ + stars: | 2023-11-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

It's time to pick positions in bank stocks heading into year end as peak rates could be a "mini clearing event" for the sector, according to Bank of America. "While we are careful to not [get] carried away, peak interest rates do have potential to serve as a mini clearing event for bank stocks," BofA's Ebrahim Poonawala wrote in a Sunday note. Regional banks are down by 27% this year, and have continued to face intense scrutiny due to their exposure to commercial real estate. "Best case, peak rates could mark near term bottom in bank stocks vs. S & P." To be sure, there remain issues in the sector. Bank stocks are highly tied to the broader economy and their loans could take a hit if the U.S. falls into a recession.

Persons: BofA's Ebrahim Poonawala, JPMorgan Chase, KRE, Poonawala, NIM, it's, Bryn Talkington, Talkington, Morgan Stanley, Bill Gross, Gross Organizations: Bank of America, Bank, Citigroup, JPMorgan, Regional Banking, P Bank, Federal Reserve, Capital Management, West Bancorp, Truist Financial, Citizens, Apple Locations: Wells Fargo, U.S

☆ Stocks making the biggest moves premarket: McDonald's, SoFi, Invitation Homes and more
▼ + stars: | 2023-10-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

East West Bancorp — Shares ticked up 2.6% after UBS upgraded them to buy on the back of strong third-quarter results. McDonald's — Shares popped 2.8% after the fast-food giant reported a third-quarter earnings and revenue beat. Revenue was boosted by higher-than-expected student loan originations for the quarter, according to the company's earnings release. The upgrade comes after L3Harris reported better-than-expected third-quarter earnings last week. However, the firm thinks DraftKings will have trouble breaking out higher until the company "proves market share resilience" in 2024.

Persons: SoFi, originations, Raymond James, L3Harris, Cowen, DraftKings, — CNBC's Pia Singh, Michelle Fox, Hakyung Kim Organizations: East West Bancorp, UBS, Revenue, Oppenheimer, L3Harris, NewAmsterdam Pharma, RBC Capital Markets Locations: LSEG

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Apple, AbbVie, Chevron, Krispy Kreme, Roku and more
▼ + stars: | 2023-10-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the biggest calls on Wall Street on Monday: JPMorgan upgrades Eastman Chemical to overweight from neutral JPMorgan said it sees an earnings rebound for Eastman Chemical. Bank of America reiterates Roku Bank of America said it's standing by its buy rating heading into earnings later this week. JPMorgan downgrades Olin to neutral from overweight JPMorgan downgraded the chemical company citing concerns about reduced product demand. " JPMorgan downgrades Valley National to neutral from overweight JPMorgan downgraded the regional bank mainly on valuation. Bank of America initiates Cooper Companies as buy Bank of America said the contact lens company is well positioned. "

Persons: Bernstein, Tesla, underperform Bernstein, Morgan Stanley, Apple, it's, Pinterest, Raymond James downgrades, Raymond James, TD Cowen, Decker, Baird downgrades Datadog, Baird, JPMorgan downgrades Newell, JPMorgan downgrades Olin, Olin, Harris, Hess, Truist, Piper Sandler, Piper, Oppenheimer, Goldman Sachs, Okta, Goldman, Wolfe Organizations: JPMorgan, Eastman Chemical, Barclays, Bank of America, Roku Bank of America, Apple, Citi, Raymond James downgrades Cisco, Cisco, Stanley Black, JPMorgan downgrades, JPMorgan downgrades Newell Brands, Newell Brands, UBS, East West Bancorp, Chevron, of America, Cooper Companies, Microsoft, MSFT, Deutsche Bank, Nvidia, Deutsche, Broadcom Locations: China, Okta

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat is nearing a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , according to people familiar with the matter. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat agreed to a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , the bank said, confirming an earlier Wall Street Journal report. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

☆ Investor group to infuse $35 million in troubled Republic First Bancorp
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

Companies Republic First Bancorp Inc FollowOct 27 (Reuters) - Investor group Norcross Braca has agreed to pump $35 million into troubled lender Republic First Bancorp (FRBK.PK), the companies said on Friday. The deal comes after the bank's disclosure in August that it was in talks with the group led by activist investor George Norcross regarding an equity investment and a broader capital raise. Philip Norcross has been appointed chair as part of the terms, while Gregory Braca and two new independent directors are also set to join the bank's board. The troubled lender has also postponed its 2022 annual shareholders meeting until December. Reporting by Manya Saini in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Norcross Braca, George Norcross, Philip Norcross, Gregory Braca, Manya Saini, Anil D'Silva Organizations: Bancorp, Investor, First Bancorp, Nasdaq, Thomson Locations: Bengaluru

☆ Cramer's Lightning Round: Stay away from PacWest Bancorp
▼ + stars: | 2023-10-02 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Energy Transfer's year-to-date stock performance. Stock Chart Icon Stock chart icon Perrigo's year-to-date stock performance. Stock Chart Icon Stock chart icon Robinhood's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon PacWest Bancorp's year-to-date stock performance.

Persons: PacWest, Kratos, Jim Cramer's Organizations: Energy, Costco

☆ Charlie Munger invested nearly $90 million of his family fortune with Li Lu. The 'Chinese Warren Buffett' has turned it into about $400 million.
▼ + stars: | 2023-09-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Charlie Munger handed $88 million to Li Lu when the value investor launched a new fund in 2004. The value investor, who Munger has dubbed the "Chinese Warren Buffett," has grown the sum to roughly $400 million since then. "We made unholy good returns for a long, long time," Munger told the Financial Times for a new profile of Li. "And Li Lu just backed up the truck, bought all he could and made a killing." You can't find a more capitalistic capitalist than Li Lu."

Persons: Charlie Munger, Li Lu, Warren Buffett's, he's, Munger, Warren Buffett, Li, JP Yim, Kweichow, Buffett, He's Organizations: Service, Financial Times, Berkshire Hathaway's, China's, Buffett, Columbia University, Capital Management, Securities, Exchange, West Bancorp, Apple, Bank of America Locations: Wall, Silicon, Munger, BYD, Berkshire, New York, California, Washington

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