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☆ Stock futures are little changed as Wall Street look towards busy earnings week: Live updates
▼ + stars: | 2023-10-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, September 6, 2022. U.S. stock futures were flat Monday night as the third-quarter earnings season gains momentum. S&P 500 futures ticked up 0.03%, while Nasdaq 100 futures traded near the flatline. The 10-year U.S. Treasury yield rose 7 basis points to 4.7% on Monday. In addition to Tuesday's earnings reports, Wall Street will also be keeping an eye out for fresh economic data.

Persons: Russell, Johnson, Goldman Sachs, Lockheed Martin, Richard Bernstein, CNBC's, Charles Schwab, George Ball, Sanders Morris Harris Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Treasury, Dow, Johnson, Bank of America, Lockheed, Richard Bernstein Advisors, Monday, JPMorgan Chase Locations: New York City, Israel, Iran

☆ Stocks making the biggest moves midday: Lululemon, Pfizer, News Corp, Charles Schwab and more
▼ + stars: | 2023-10-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pfizer — Shares rallied 3.61% following an upgrade by Jeffries to buy from hold. The firm sees an attractive buying opportunity after Pfizer cut its full-year guidance last week on slumping vaccine sales. Alignment Healthcare — Shares soared 17.22% after being upgraded to strong buy from outperform by Raymond James. Tal Education — The education technology stock popped 6.73% after UBS upgraded shares to a buy rating, citing an attractive valuation and tailwinds from Tal Education's nonacademic tutoring business. Greenbrier — Shares of the transportation services company gained 3.81% Monday morning after Susquehanna upgraded the stock to a positive rating.

Persons: Dow, Lululemon, Jeffries, Novavax, Raymond James, Morgan Stanley, Jim Ratcliffe, Sheikh Jassim bin Hamad al Thani, Glazer, Tal Education's, Charles Schwab —, Schwab, Albemarle —, Albemarle, Bascome, Henry Schein —, Yun Li, Fred Imbert, Hakyung Kim, Samantha Subin, Alex Harring, Pia Singh, Lisa Han Organizations: Dow Jones Indices, Activision, Microsoft, Pfizer —, Pfizer, Moderna, News Corp, Reuters, Street, Street Journal, Systems, Manchester United, Tal Education, UBS, Liontown, Greenbrier —, Susquehanna Locations: BioNTech, Greenbrier

☆ Charles Schwab posts profit beat on robust asset management growth, shares rise
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

The company logo for Financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 16 (Reuters) - U.S. brokerage firm Charles Schwab (SCHW.N) posted a smaller-than-expected drop in quarterly profit on Monday as strength in asset management fees softened the blow from a fall in its net interest revenue. Charles Schwab's shares surged 6.2%, to $54.49, set for their best day in nearly three months, if gains hold. Drops in deposits have drained firms like Charles Schwab of a cheap source of funding, forcing them to either raise new capital or cut costs. Excluding one-time costs, Charles Schwab's profit fell 31% year-over-year, to $1.52 billion, or 77 cents per share, for the three months ended Sept. 30.

Persons: Charles Schwab, Brendan McDermid, Charles Schwab's, Jaiveer Singh, Pooja Desai Organizations: REUTERS, Thomson Locations: New York, U.S, Westlake , Texas, Bengaluru

☆ Stocks making the biggest moves premarket: Pfizer, Lululemon, Manchester United, Rite Aid and more
▼ + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Pfizer , Moderna , BioNTech — Shares of Pfizer dropped 1.3% after the company slashed its full-year revenue guidance by $9 billion, noting waning demand for its Covid treatment and vaccine. Following the guidance cut, Jefferies upgraded Pfizer on Monday, citing an attractive buying opportunity. Vaccine markers Moderna and BioNTech also dropped premarket, losing 4.1% and 5%, respectively. Colgate-Palmolive — The consumer products stock gained more than 1% in premarket trading after Stifel upgraded Colgate-Palmolive to buy from hold. The firm cited the stock's attractive valuation and the rapid and profitable growth of TAL's non-academic tutoring business as catalysts.

Persons: Jefferies, BioNTech, premarket, Morgan Stanley, Jim Ratcliffe, Jeffrey Stein, Dow, Charles Schwab, CNBC's Hakyung Kim, Jesse Pound, Tanaya Macheel, Michelle Fox Theobald, Lisa Han Organizations: Pfizer, Moderna, BioNTech, Colgate, Palmolive, Manchester United, Wall Street, . Rite, Dow Jones, Activision, Microsoft, TAL Education Group, UBS Locations: New Jersey

☆ Watch CNBC’s full interview with Hightower's Stephanie Link and Charles Schwab's Kevin Gordon
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Hightower's Stephanie Link and Charles Schwab's Kevin GordonStephanie Link, Hightower chief investment strategist, and Kevin Gordon, Charles Schwab senior investment research manager, join 'Closing Bell' to discuss the state of the consumer, the latest economic reports and what it all means for the markets.

Persons: Hightower's Stephanie Link, Charles Schwab's Kevin Gordon Stephanie Link, Hightower, Kevin Gordon, Charles Schwab

☆ Watch CNBC's full interview with Charles Schwab CEO Walt Bettinger
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Charles Schwab CEO Walt BettingerCharles Schwab CEO Walt Bettinger joins 'Squawk on the Street' to discuss the company's quarterly earnings results, what investors need to understand about the interest rate move impact on the banks, and how suppressed interest equities have impacted investor psyche.

Persons: Charles Schwab, Walt Bettinger Charles Schwab, Walt Bettinger

We asked two successful investors under 30, each with a net worth of over six figures, which apps they use. Tiffany James uses TD Ameritrade's thinkorswim and Imani Porter uses Charles Schwab. Now, she teaches other young Black women to invest their money and grow their net worth as well. According to records reviewed by Insider, her net worth is $199,000 between I-bonds, stock investments, and retirement accounts. When I was really new to investing, Schwab would answer all my questions so patiently!"

Persons: Tiffany James, Ameritrade's thinkorswim, Imani Porter, Charles Schwab, —, James, she's, Porter, thinkorswim Tiffany James, thinkorswim, Read, Schwab Organizations: Service, Ameritrade

☆ Consumer is in better shape, says Hightower's Stephanie Link
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumer is in better shape, says Hightower's Stephanie LinkStephanie Link, Hightower chief investment strategist, and Kevin Gordon, Charles Schwab senior investment research manager, join 'Closing Bell' to discuss the state of the consumer, the latest economic reports and what it all means for the markets.

Persons: Stephanie Link Stephanie Link, Hightower, Kevin Gordon, Charles Schwab

☆ Charles Schwab CEO Walt Bettinger: We're in a bearish environment, and it's been tough for investors
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharles Schwab CEO Walt Bettinger: We're in a bearish environment, and it's been tough for investorsCharles Schwab CEO Walt Bettinger joins 'Squawk on the Street' to discuss the company's quarterly earnings results, what investors need to understand about the interest rate move impact on the banks, and how suppressed interest equities have impacted investor psyche.

Persons: Charles Schwab, Walt Bettinger, it's

☆ Stock futures rise slightly to kick off a busy earnings week: Live updates
▼ + stars: | 2023-10-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures inched higher in overnight trading Sunday ahead of a busy week for corporate earnings. Futures tied to the Dow Jones Industrial Average added 0.1%, while S&P 500 futures and Nasdaq-100 futures gained 0.12% and 0.16%, respectively. The S&P 500 advanced 0.45% for its second consecutive positive week, while the Dow Jones Industrial Average gained 0.79%. Meanwhile, Wall Street assessed a slew reports from major financial firms, with JPMorgan Chase and Wells Fargo gaining 1.5% and 3%, respectively. On the economic front, Wall Street awaits the Empire State Index for October due out Monday.

Persons: Stocks, Eric Johnston, Cantor Fitzgerald's, CNBC's, Chuck Schumer, Johnson, Charles Schwab Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Dow, Wall, JPMorgan Chase, Wells, Johnson, Bank of America, Netflix, Tesla, Index Locations: Israel, Gaza, U.S

☆ Here are 3 things to watch in the stock market after a very difficult week
▼ + stars: | 2023-10-14 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +10 min

MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, WTI, Jerome Powell's, There's, Patrick Harker, John Williams, Harker, Austan Goolsbee, Lorie Logan, Powell, Christopher Waller, Philip Jefferson, Waller, Jefferson, – Morgan Stanley, Gamble –, Morgan Stanley YTD, Morgan, Jim Cramer, Morgan Stanley, there's, Gamble, Jim, we'll, Charles Schwab, Goldman Sachs, Johnson, Philip Morris, — CNBC's Zev Fima, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow, Columbus Day, West Texas, Federal Reserve, Club, Fed, Market, Philadelphia Fed, New York Fed, Chicago Fed, Dallas Fed, United Auto Workers, General Motors, Chrysler, Ford, National Association of Realtors, Procter, Procter & Gamble, Natural Resources, Exxon Mobil, Coterra Energy, of America, United Airlines, Gamble, Housing, Netflix, Alcoa, American Airlines, Taiwan Semiconductor Manufacturing Company, Alaska Air, CSX, American Express, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Israel, U.S, New, Wells, KBW, Silicon, Manhattan, New York City

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

☆ Cramer's week ahead: Keep an eye on banks as earnings season kicks off
▼ + stars: | 2023-10-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday told investors what to look out for in the coming week as earnings season kicks off. "The war will continue to overshadow earnings season, but if you keep track of these companies and there's a cessation in the conflict, the market will eventually embrace the good ones," he said. Cramer will also be watching earnings from consumer packaged goods company Procter & Gamble and medical device maker Abbott Laboratories . Cramer also noted there was "suboptimal commentary" surrounding Netflix and Tesla , which will report Wednesday after the market closes. Cramer will also be looking at Friday reports from American Express and oil service giant SLB , formerly known as Schlumberger.

Persons: CNBC's Jim Cramer, Charles Schwab, Goldman Sachs, Cramer, Charles Schwab's, Lockheed Martin, Johnson, Morgan Stanley Organizations: Bank of America, Lockheed, United Airlines, Procter, Gamble, Abbott Laboratories, Netflix, Tesla, Union Pacific, American Express Locations: Israel, KeyCorp, Schlumberger

NEW YORK (AP) — Tens of millions of older Americans will see a modest increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments. Here's what to keep in mind:Political Cartoons View All 1209 ImagesHOW DOES SOCIAL SECURITY WORK? The Social Security program pays roughly $1.4 trillion in benefits to more than 71 million people each year, including low-income individuals with disabilities. The short answer is that taxes fund Social Security. While the money is used to pay people currently receiving benefits, any unused money goes to the Social Security trust fund.

Persons: Kathleen Romig, ”, Mark Hamrick, Hamrick, Charles Schwab Organizations: Social, Bureau of Labor Statistics Consumer, Social Security, Budget, Bureau of Labor Statistics ’, “, Boomers, Associated Press, Charles, Charles Schwab Foundation, Inc, AP

Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Investing soon and regularly is the best way to participate and receive the benefit of the market. That is the perfect opportunity to invest half of the lump sum, then keep investing a designated amount on a monthly basis. I know this first hand; several years ago, my father invested a lump sum of $10,000 and then couldn't take the ups and downs that come with investing. Investing consistently means that you will be able to participate in the market regardless of market conditions.

Persons: Charles Schwab, —, Schwab Organizations: Service

☆ Fed will start to pivot on rates in the second or third quarter of '24, says Charles Schwab's Jones
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed will start to pivot on rates in the second or third quarter of '24, says Charles Schwab's JonesKathy Jones, Charles Schwab chief fixed income strategist, joins 'Squawk on the Street' to discuss Jones' thoughts on the current bond cycle, whether the Federal Reserve feels like its mission accomplished on rates, and the current bottom line for bond investors.

Persons: Charles Schwab's Jones Kathy Jones, Charles Schwab, Jones Organizations: Federal Reserve

That's why his remarkable, record-setting year on the PGA Tour Champions has Stricker thinking about playing more on the PGA Tour next year. “I don't know if it will work,” Stricker said at the Constellation Furyk & Friends. He already has set the PGA Tour Champions earnings record — currently $3,986,063 — and he is a lock to become the first senior player to surpass $4 million in a year. The courses on the PGA Tour Champions aren't as long and the competition isn't nearly as strong. “It's just a great time to be part of the PGA Tour,” he said.

Persons: Steve Stricker, “, ” Stricker, —, Stricker, Marco Simone, Charles Schwab, ”, “ I've, I've, I'm, Brooks Koepka, ” Stricker hasn't, Mike Weir, Weir couldn't, “ Jordan Spieth, ” Weir, Strick, “ It's, ___ Organizations: PGA, Constellation, Timuquana, Ryder, U.S . Senior, Phoenix, Ryder Cup, Sony Locations: JACKSONVILLE, Fla, Rome, Scottsdale, Europe, Oahu, Timuquana

☆ Kleintop: The future of rates seems to matter more to markets than geopolitical risks
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKleintop: The future of rates seems to matter more to markets than geopolitical risksJeffrey Kleintop, Chief Global Investment Strategist at Charles Schwab, discusses the key catalysts for movement in the markets.

Persons: Jeffrey Kleintop, Charles Schwab Organizations: Global Investment

☆ Watch CNBC's full interview with New York Life Investments' Goodwin and Charles Schwab's Liz Ann Sonders
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with New York Life Investments' Goodwin and Charles Schwab's Liz Ann SondersLauren Goodwin, New York Life Investments economist, and Liz Ann Sonders, Charles Schwab chief investment strategist and managing director, join 'Closing Bell' to discuss a setup for a run in equities into year-end, what happens if rates move lower, and more.

Persons: Goodwin, Charles Schwab's Liz Ann Sonders Lauren Goodwin, Liz Ann Sonders, Charles Schwab Organizations: New York Life Investments Locations: New York

☆ Mark Cuban says he only felt successful for the first time at age 28: My dad 'broke down in tears and started sobbing'
▼ + stars: | 2023-10-08 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Billionaire investor Mark Cuban vividly remembers the moment he finally felt successful — because he spent so many years beforehand trying to stave off being flat broke. The turning point "was probably when I had $100,000 in the bank," Cuban, now 65, said. And telling my dad who just broke down in tears and started sobbing." The effort paid off when Cuban sold MicroSolutions for $6 million in 1990 to CompuServe, a now-defunct internet services company. "There's a huge difference between being a millionaire and a billionaire," Cuban told GQ.

Persons: Mark Cuban, GQ —, he'd, Dave Winslow, we're, It's, Charles Schwab's, Cuban, Barstool, Broadcast.com Organizations: Cuban, GQ, Wealth Survey, Cisco, CompuServe, Yahoo, CNBC Locations: Cuban

☆ The 7 largest stocks in the S&P 500 have returned 92% on average this year—but 'it's not terribly healthy' for markets
▼ + stars: | 2023-10-06 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Stock market analysts have been closely watching "The Magnificent Seven." Rather, they're keeping an eye on the seven largest stocks in the S&P 500. So far this year, this group of mega-sized firms are buoying the performance of the U.S. stock market. As a group, these stocks have returned 92% in 2023 on average. If a move in the stock market shows broad movement across a wide swath of stocks, then it's thought to be strong.

Persons: Yul Brynner, Steve McQueen, Denzel Washington, Liz Ann Sonders, Charles Schwab, It's, Tesla, it's, Liz Young Organizations: Apple, Microsoft, Nvidia, Tesla

I have one bank that I use for investing and one that I use for credit cards and high-yield savings. Originally, I used Wells Fargo as my primary bank. This book taught me how to make my credit cards work for me and what to look for in credit cards. Now I have my credit cards, savings account, and auto loan all in one place. But if they ever pull a Wells Fargo, I have my process to find a new bank.

Persons: —, Wells, Wells Fargo, Charles Schwab, Ramit Sethi, Cash, I've, they're Organizations: Service, Vanguard, Self Locations: Wells Fargo, Wells

☆ The Dow is about to give up all of its gains for 2023
▼ + stars: | 2023-10-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The Dow Jones Industrial Average is down more than 400 points Tuesday. Bond yields spiked after fresh labor data, which pointed to a still-resilient job market. AdvertisementAdvertisementAfter a strong to the year, the Dow Jones Industrial Average is on pace Tuesday to give up all of its 2023 gains. While the Dow has lagged stronger gains posted by the S&P 500 and the Nasdaq this year, the index was still up about 8% at its 2023 peak in August. The stock market's losses so far in October extend a brutal two-month stretch for investors, with September posting the worst monthly loss of 2023.

Persons: —, Quincy Krosby, Liz Ann Sonders, Charles Schwab's, Sonders Organizations: Dow Jones, Service, Nasdaq, Dow, Treasury, Labor, Survey, Fed, LPL Locations: New York

☆ Stock market minnows are grabbing most of the world’s IPOs
▼ + stars: | 2023-10-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

The US is still the biggest single IPO market. It is now the world’s fourth-biggest IPO market when measured by the value of deals, totaling $3.2 billion so far this year, according to data provider Dealogic. Further south, the year-to-date value of IPO deals on Turkey’s Borsa Istanbul has hit $2.3 billion, more than double the value of deals on the London Stock Exchange. Not a ‘pretty picture’The United Kingdom’s IPO market is in more profound trouble, and the loss of the Arm IPO to New York stung. Kerr attributes the decline in the UK’s IPO scene partly to Brexit but also to the growing strength of stock exchanges in emerging markets.

Persons: EY, ” George Chan, Chan, you’ve, they’re, ”, Hidroelectrica, Michael M, Kevin Gordon, Charles Schwab, ” Gordon, Germany’s, Samuel Kerr, Kerr Organizations: London CNN, Nasdaq, CNN, Center, United Arab, Bucharest Stock Exchange, Turkey’s Borsa, London Stock Exchange, Tech, IPOs, New York Stock Exchange, Getty, Federal Reserve, United, Wall, “ Companies Locations: Turkey, Romania, Indonesia, Malaysia, India, Hong Kong, United States, United Arab Emirates, China, Jakarta, Frankfurt, Paris, Romanian, Turkey’s Borsa Istanbul, Europe, New York, London

☆ A 'phenomenal' stock: Irrationality has made this wealth manager look super cheap, investor says
▼ + stars: | 2023-10-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Irrational behavior due to concerns over the stability of the U.S. banking system has made Charles Schwab 's stock a cheap investment opportunity, according to value investor Daniel O'Keefe. O'Keefe said this "cash sorting" was mistaken for a bank run. "On the negative side, cash sorting moved back up in August post the July Fed hike, and Ameritrade client attrition around conversion activity also rose considerably." "We believe fears of a reacceleration in cash sorting behavior are overblown," the JPM analysts said in a note to clients on Sept. 20. He initiated a position in Schwab for the value fund, calling it "a phenomenal business" trading at a discount.

Persons: Charles Schwab, Daniel O'Keefe, Schwab, O'Keefe, " O'Keefe, It's, Brian Bedell, Devin Ryan Organizations: Artisan Partners, Artisan, Fund, CNBC, Schwab, Deutsche Bank, JMP Securities Locations: U.S, Schwab

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