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☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Live Nation, Boeing, Coinbase, Amazon & more
▼ + stars: | 2024-04-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America reiterates Tesla as buy Bank of America said it's standing by its buy rating on the electric-vehicle maker. "We maintain our Buy rating and raise our PT from $1100 to $1,150." "We are initiating coverage of Live Nation with a Buy rating and $120 price target." "We are initiating coverage on EE with an Overweight rating." "We are initiating coverage of Integral Ad Science with a Buy rating and a $15 price target."

Persons: Tesla, TSLA, Morgan Stanley, Oppenheimer, Raymond James, Mizuho, Airbnb, Coinbase, Needham, Stephens, Jefferies, Ralph Lauren, Chegg Organizations: Argus, Boeing, " Bank of America, Bank of America, UBS, Nvidia, Dyne, JPMorgan, Catalyst Watch, Apple, Mizuho, Citi, BTC, Ethereum, Paramount, CBS, Deutsche Bank, Deutsche, Excelerate Energy, Stephens, Barclays, UMB, Corp, Contineum Locations: Base, Kansas City

☆ S&P downgrades multiple US banks citing 'tough' operating conditions
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

S&P downgraded the ratings of Associated Banc-Corp (ASB.N) and Valley National Bancorp (VLY.O) on funding risks and a higher reliance on brokered deposits. It also downgraded UMB Financial Corp (UMBF.O), Comerica Bank (CMA.N) and Keycorp (KEY.N), citing large deposit outflows and prevailing higher interest rates. A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp (FDIC)-insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening." The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate (CRE) exposure among other factors. Reporting by Gokul Pisharody in Bengaluru; Additional reporting by Akanksha Khushi; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Moody's, Bank of New York Mellon BK.N, Gokul, Akanksha Khushi, Varun Organizations: Global, National Bancorp, UMB Financial Corp, Comerica Bank, Federal Deposit Insurance Corp, Federal, T Bank, City Bank, Bank of New York Mellon, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Thomson Locations: New York City, U.S, Silicon, Bengaluru

☆ S&P downgrades multiple U.S. banks citing 'tough' operating conditions
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: +1 min

S&P Global on Monday cut credit ratings and revised its outlook for multiple U.S. banks, following a similar move by Moody's, warning that funding risks and weaker profitability will likely test the sector's credit strength. S&P downgraded the ratings of Associated Banc-Corp and Valley National Bancorp on funding risks and a higher reliance on brokered deposits. It also downgraded UMB Financial Corp , Comerica Bank and Keycorp , citing large deposit outflows and prevailing higher interest rates. A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp-insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening." The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate exposure among other factors.

Persons: Moody's Organizations: Global, Corp, National Bancorp, UMB Financial Corp, Comerica Bank, Keycorp, Federal Deposit Insurance Corp, Federal, T Bank, City Bank, Bank of New York Mellon, US Bancorp, Truist, Silicon Valley Bank, Signature Bank Locations: Silicon, U.S

☆ CNBC Daily Open: Rising yields couldn’t stifle excitement over Nvidia
▼ + stars: | 2023-08-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech rallied amid rising yieldsThe Nasdaq Composite rallied Monday, breaking a four-day losing streak, even as the 10-year U.S. Treasury yield hit 4.342%, a decades-long high. The index was lifted by SoftBank shares rising 1.57% on the news that its chip unit Arm has filed for a Nasdaq listing. "What seems to be clear is that food price volatility will continue in coming months," an analyst said.

Persons: Softbank Organizations: CNBC, Tech, Nasdaq, Treasury, Nikkei, P Global, Corp, National Bancorp, UMB Financial Corp, Comerica Bank, Keycorp, UBS Locations: Asia, Pacific, Asia Rice, India, Swiss

☆ Will Chinese deflation help cure the West’s inflation problem?
▼ + stars: | 2023-08-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The Chinese economy has hit a rough patch. What’s happening: Chinese consumer spending, factory production and investments in long-term assets like property or machinery all slumped last month. On Monday, the Chinese government surprised investors by deciding not to cut an important interest rate that influences mortgages. The beauty company is “mindful of the headwinds that have emerged in China’s economy,” said the report. And even still, many regional banks have struggled to prevent deposit outflows.

Persons: ”, Jason Pride, Michael Reynolds, Lisa Shalett, Edward Moya, Estee Lauder, Moya, “, Elisabeth Buchwald, Moody’s, ‘ Barbie ’, “ Barbie ”, Jordan Valinsky, Greta Gerwig, “ Oppenheimer, “ Barbie Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Morgan Stanley Wealth Management, European, Apple, Intel, Ford, Starbucks, Nike, Saudi, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, China, Europe, Beijing, Asia, Russia, Saudi Arabia, Silicon

☆ S&P downgrades five US banks following Moody’s lead
▼ + stars: | 2023-08-21 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —S&P Global Ratings downgraded five regional US banks by one notch and signaled a negative outlook for several others on Monday. Following the banking turmoil earlier this year that began with Silicon Valley Bank’s collapse, many regional banks have had to pay higher interest rates on deposits to keep customers from pulling their funds. And even still, many regional banks have struggled to prevent deposit outflows. Overall, 90% of the banks S&P rates have stable outlooks. The remaining 10% have negative outlooks and none have positive outlooks, S&P said Monday.

Persons: New York CNN —, Moody’s Organizations: New, New York CNN, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, Silicon

☆ Moody's downgrades Signature Bank to junk, places six U.S. banks under review
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Ratings agency Moody's on Monday downgraded the debt ratings of collapsed New York-based Signature Bank (SBNY.O) deep into junk territory and placed the ratings of six other U.S. banks under review for a downgrade. Moody's, which rated Signature Bank's subordinate debt 'C', said it was also withdrawing future ratings for the collapsed bank. The banks placed under review for downgrade are First Republic Bank (FRC.N), Zions Bancorporation (ZION.O), Western Alliance Bancorp (WAL.N), Comerica Inc (CMA.N), UMB Financial Corp and Intrust Financial Corporation, Moody's said. State regulators closed Signature Bank on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits. Reporting by Nilutpal Timsina in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

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