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☆ CNBC Daily Open: Arm’s surge lends helping hand to banks
▼ + stars: | 2023-09-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Michael M. Santiago | Getty Images News | Getty ImagesThis 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. In the same vein, when Arm experienced a flush of wellbeing, it radiated through markets' entire body, giving them their best day in weeks. The S&P 500 advanced 0.84%, its best showing in around two weeks, and the Nasdaq Composite gained 0.81%. "You've got the perfect framework of inflation heading in the right direction, but the economy not falling apart," Hogan said.

Persons: Rene Haas, Michael M, Hogan, JPMorgan Chase, Morgan Stanley, Goldman Sachs, Goldman, Goldman —, assuaged, You've Organizations: GM, Arm, Nasdaq, Santiago, Getty, CNBC, Riley, Big, JPMorgan, Tech, Dow, PPI Locations: New York City, U.S

☆ Finding the GameStop phenomenon: 'Dumb Money' hits theaters
▼ + stars: | 2023-09-15 | 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 EmailFinding the GameStop phenomenon: 'Dumb Money' hits theatersCraig Gillespie, ‘Dumb Money’ director, and the film’s writers and executive producers Lauren Schuker Blum and Rebecca Angelo, join 'Squawk Box' to discuss the 'Dumb Money' film, which follows the 2021 GameStop phenomenon and the story of Keith Gill, also known as Roaring Kitty, who ignited a grassroots movement challenging Wall Street and the big banks in support of a stock he loved.

Persons: Craig Gillespie, ‘, Lauren Schuker Blum, Rebecca Angelo, Keith Gill, Kitty Organizations: GameStop

☆ 'Success disasters' have become a big problem in tech for companies and consumers
▼ + stars: | 2023-09-14 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

These technology failures during a major scaling event — dubbed success disasters — weren't alone. Ticketmaster's failure during their scaling event was just one kind of success disaster — the overburdening of the system's capacity. Success disasters may be common, but that doesn't make them acceptable, especially if a company is offering products or services considered essential. The right answer really depends on the starting point and what scaling events are anticipated. Even on a smaller (but still substantial) scale, Urban keeps this in mind to avoid her own success disaster.

Persons: Taylor, SeatGeek, clamoring, —, Spencer Kimball, Kimball, Masa Kabayama, Kabayama, Paula Urban Organizations: Ticketmaster, Labs, Google, Uplift Labs, MLB, NBA, Apple, Houston Livestock, Taylor Swift Locations: onboarding

☆ China asks big banks to stagger and adjust dollar purchases - sources
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +4 min

Most banks are allowed to run a net short or long foreign currency position in spot dollar-yuan markets, within defined limits. The directive came from a meeting the People's Bank of China (PBOC) held with a few commercial banks earlier this week, the sources said. The sources, who received the directive, said banks were also told to encourage their clients to hold off on dollar purchases. Earlier this month, it announced it would increase the supply of dollars by lowering the amount of foreign exchange that banks must set aside. Sources told Reuters last month that China's currency regulators asked some banks to reduce or postpone their purchases of U.S. dollars in order to slow the yuan's depreciation.

Persons: Dado Ruvic, Banks, Sid Mathur, Mathur, Shri Navaratnam Organizations: REUTERS, Rights, People's Bank of China, Reuters, BNP Paribas, Shanghai, Thomson Locations: China's, United States, China, Asia, Pacific, . China

☆ Insider Today: Big banks are screwed
▼ + stars: | 2023-09-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

It's the latest example of the pressure big banks are under to keep their place atop Wall Street. Before the announcement, the bank's share price was down almost 9% this year, trailing all of its fellow big bank peers in the US except Bank of America. Citi's overhaul represents how big banks are scrambling to stay on top of a financial world passing them by. CEO Jamie Dimon recently quipped he "wouldn't be a big buyer of a bank" in reference to proposed regulations requiring big banks to keep more money on the sidelines. Whether it's fintechs or so-called shadow banks, there's no shortage of players looking to offer services previously dominated by big banks.

Persons: that'll, isn't, Mike Kemp, Insider's Jennifer Sor, Jane Fraser, Fraser, Fraser isn't, she's, Michael Corbat, Citi's reorg, Goldman Sachs, David Solomon, Rebecca Ungarino, Wells, Charlie Scharf, JPMorgan — isn't, Jamie Dimon, it's, Robert Nickelsberg, Morgan Stanley, — isn't, Arantza Pena Popo, Nicole Zaridze, Elon Musk, Post Malone, —, Hunter Biden, Garrett Ziegler, Paul Morigi, Biden's, Joey Hadden, I've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Citigroup, Getty, Bank of America, JPMorgan, Independence, Apple, Post, SEC, Trump, Wikimedia, Motors, Ford, Nintendo Locations: Wall, Silicon, Seattle, New York City, China, Boxabl, Michigan, San Diego, London, New York

Yelling at Michael Barr, the Federal Reserve’s top banking regulator, has never been particularly effective, his friends and co-workers will tell you. That hasn’t stopped America’s biggest banks, their lobbying groups and even his own colleagues, who have reacted to his proposal to tighten and expand oversight of the nation’s large lenders with a mix of incredulity and outrage. The proposal would push up the amount of easy-access money that banks need to have at the ready, potentially cutting into their profits. Lawmakers sent worried letters to the Fed and peppered its officials with questions about what the proposal would contain. The Bank Policy Institute, a trade group, recently rolled out a national ad campaign urging Americans to “demand answers” on the Fed’s new capital rules.

Persons: Michael Barr, hasn’t, Kevin Fromer, Barr, Lawmakers Organizations: Federal, Financial Services, Mr, BNP Paribas, HSBC, TD Bank, Hill, Bank Policy Institute, Fed

☆ Why the Arm IPO is good news for these bank stocks
▼ + stars: | 2023-09-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Watch Morgan Stanley, Wells Fargo Shares of Club bank holdings Morgan Stanley (MS) and Wells Fargo (WFC) jumped Thursday along with the broader financial sector, likely bolstered by Arm Holdings' highly anticipated initial public offering . Morgan Stanley stock was up 1.63%, at $88.68 a share. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, Wells, Amazon Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, U.S, Treasury, West Texas, Arm Holdings, SoftBank Group, Wells, Amazon, Wednesday Locations: Government, British, Wells Fargo

☆ Big banks are targeting regional banks' customer base through Fintech
▼ + stars: | 2023-09-14 | by ( Hugh Son | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig banks are targeting regional banks' customer base through FintechHugh Son, CNBC.com reporter, joins 'Closing Bell Overtime' to talk more trouble for regional banks as big banks move in on their customer base.

Persons: Hugh Son

☆ Goldman Sachs fires several executives in transaction banking -memo
▼ + stars: | 2023-09-13 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 13 (Reuters) - Goldman Sachs (GS.N) fired several executives in its transaction banking unit after they violated the firm's communications policy, according to a memo seen by Reuters on Wednesday. Philip Berlinski, the bank's treasurer, will take over day-to-day management of transaction banking alongside Akila Raman and Luc Teboul. The fired executives also failed to cooperate with Goldman Sachs' compliance department. The bank remains strongly committed to the transaction banking business, it said. Goldman Sachs was among the first wave of big banks regulators hit with stiff penalties for such recordkeeping failures.

Persons: Goldman Sachs, Andrew Kelly, Philip Berlinski, Akila Raman, Luc Teboul, Berlinski, Hari Moorthy, Moorthy, Saeed Azhar, Chris Prentice, Leslie Adler, Lananh Nguyen, Josie Kao Organizations: REUTERS, Reuters, FINRA's, Wall Street, Thomson Locations: Manhattan , New York, U.S

☆ SoFi CEO talks second-quarter growth and 'stealing share' from big banks
▼ + stars: | 2023-09-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Anthony Noto, CEO of digital banking and personal finance company SoFi , told CNBC's Jim Cramer the company has been able to grow immensely since it received its banking license. The company has its roots in financing student loans but was licensed to become a bank last year. SoFi's second-quarter report showed the company had gained more than 584,000 new members during the quarter, with more than 6.2 million total members, up 44% year over year. Noto added that SoFi is attracting customers with its mobile-first technology and financial products such as personal loans to pay off credit card debt, as well as student loan refinancing. "If you have a student loan, you want to lower your monthly payment, you're able to do that either via a lower rate or extending the term," Noto said.

Persons: Anthony Noto, CNBC's Jim Cramer, we've, SoFi's, Noto Locations: FactSet

☆ SoFi CEO Anthony Noto: We're stealing share from the big banks
▼ + stars: | 2023-09-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoFi CEO Anthony Noto: We're stealing share from the big banksSoFi CEO Anthony Noto joins 'Mad Money' host Jim Cramer to talk quarterly growth in membership, consumer trends, competition in the banking sector and more.

Persons: Anthony Noto, Jim Cramer

☆ Bank stocks have come to life recently. But Jim Cramer explains why the rally may not last
▼ + stars: | 2023-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

KeyCorp (KEY) reiterated its financials Tuesday, sending its shares higher — a rally that's been seen in the wider financial sector recently. The stock, however, edged lower after Wednesday's open on Wall Street. That's because, according to Jim Cramer, investors are focusing their attention on big banks, rather than smaller regionals. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "There's a big split right between investment banks, big money centers and the regionals," Cramer said, cautioning that the recent banking sector rally may not be sustainable.

Persons: Jim Cramer, Jim Cramer's, Cramer, Wells Fargo, Morgan Stanley Organizations: Cramer's Charitable Trust, CNBC, Silicon Valley Bank Locations: Wells, Cramer's, Silicon

☆ How big banks won the banking crisis
▼ + stars: | 2023-09-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Before the Bell: Now that the dust is hopefully settling on this year’s regional banking crisis, are there clear winners and losers in the banking sector? David Kotok: There’s no question the [global systemically important banks, G-SIB] won and the middle-sized banks — let’s call that banks with between $50 billion and $250 billion in assets — were the losers. So if you stand back from the immediate 2023 banking crisis, and you say, how many banks were there 20 years ago in the United States, how many banks are there today? The UK economy is bigger than we thoughtThe UK economy recovered from the Covid-19 pandemic much faster than previously thought, reports my colleague Hanna Ziady. For many office workers around the United States, it also means more return-to-office mandates.

Persons: JPMorgan Chase, Bell, David Kotok, he’s, SIB, Jamie Dimon, J.P, Morgan, hasn’t, Hanna Ziady, John Springford, Andy Jassy, CNN’s Jeanne Sahadi, unaddressed, Merck Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, UBS, JPMorgan, Republic Bank, Cumberland Advisors, —, Credit Suisse, First, Federal Reserve, Office, National Statistics, ONS, Centre, European Reform, Labor, Amazon, Business Locations: New York, Silicon, First Republic, United States, Jekyll, America, Hanna Ziady ., Germany, Canada, Japan, Italy, France, Britain

For years, low interest rates fuelled a global boom, igniting interest in German property, seen as safe and stable as the country. The health of Germany's property sector - Europe's biggest property investment market outside of Britain - is critical, making up roughly a fifth of output and providing one in 10 jobs. Late last year, Hoeglmaier put his penthouse on the market, and Euroboden closed its Frankfurt office. In 2020, as the property market heated up, the Bundesbank warned the country's banks, for whom property accounted for about 70% of all domestic loans, of the risks. The 380-square meter (4,090 square foot) penthouse, which occupies the fifth through seventh floors and includes a rooftop terrace, originally listed for just under 13 million euros.

Persons: Leonhard Simon, Stefan Hoeglmaier, Chancellor Olaf Scholz, Tillmann Peeters, Hoeglmaier, Oscar Loya –, –, Euroboden, Daniel Bauer ,, Oliver Schartl, Loya, Christoph Niering, Matthias Inverardi, Tomasz Janowski Organizations: REUTERS, Rights, FalkenSteg, European Central Bank, Reuters, Facebook, Garden, Graphics, Thomson Locations: Munich, Germany, Europe's, Britain, Berlin, Frankfurt, Ukraine, Sweden, Europe, homebuilders, China, Evergrande

The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. The powerful central bank, Swiss National Bank (SNB), said it disagreed with some of the suggestions, including on liquidity and on how the authorities work. It will change the landscape of banking in Switzerland, where branches of Credit Suisse and UBS are dotted everywhere, sometimes just metres apart. "(The) rescue of Credit Suisse isn't a perfect success but it's not a story of policy failure either. During the global financial crash of 2008, it was UBS, not Credit Suisse, that needed a state rescue.

Persons: Denis Balibouse, FINMA, Beat Wittmann, Nicolas Veron, it's, Oliver Hirt, John O'Donnell, Susan Fenton Organizations: Credit Suisse, UBS, REUTERS, Rights, UBS Group, Swiss, Swiss National Bank, –, Suisse, Social Democrat, Porta Advisors, Peterson Institute for International Economics, Thomson Locations: Geneva, Switzerland, Rights BERN, Swiss, Washington, Zurich

CIBC blamed soft U.S. real estate and construction sectors and high interest rates for its three-fold jump in bad loan provisions to C$736 million ($544 million). "Where we are seeing the issues is in commercial real estate and in particular, in the institutional office space," said Shawn Beber, the bank's head of U.S. operations. And as that transition continues, you'll see (commercial real estate) wind up being a smaller percentage of the overall U.S. portfolio as our commercial and industrial and our wealth businesses continue to grow," Beber told analysts. The U.S. office portfolio represents less than 1% of CIBC's overall loan book and 20% of overall U.S. commercial real estate. "It appears that higher interest rates for longer may be the primary culprit," RBC analyst Darko Mihelic said.

Persons: Carlos Osorio, Shawn Beber, Beber, Brian Madden, Darko Mihelic, Nivedita Balu, Pritam Biswas, David Holmes, Mark Potter Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Royal Bank of Canada, Investment, RBC, Thomson Locations: Toronto , Ontario, Canada, U.S, Bank of Nova Scotia, Canadian, Toronto, Bengaluru

☆ The US is likely to dodge a recession in a dream soft-landing scenario, Morgan Stanley's top economist says
▼ + stars: | 2023-08-31 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The US is nearing a dream no-recession scenario, according to Morgan Stanley's top economist. Falling inflation and steady growth show the Federal Reserve is closing in on a soft landing, Seth Carpenter said. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "I wouldn't say that we've discarded it wholesale – there's always a risk," Carpenter, who is the bank's global chief economist, told Bloomberg TV, referring to the risk of a recession. Meanwhile, growth has remained resilient – with the economy expanding 2.1% between April and June, according to a government estimate Wednesday.

Persons: Morgan Stanley's, Seth Carpenter, “, ”, Carpenter, Morgan Stanley, who's, Mike Wilson Organizations: Federal Reserve, Bloomberg, Service, Federal, Fed, Bank of America Locations: Wall, Silicon, China

☆ This income play can yield more than 5%, without a ton of risk
▼ + stars: | 2023-08-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Corporate bond yields have been a boon for income investors. For many, investment-grade corporate debt is the sweet spot right now, and still has yields that haven't been seen in years. Investment-grade bonds are rated Baa or above by Moody's or BBB and above by S & P and Fitch. "You could get to 5% to 6% type of yield numbers, without taking much credit risk, without taking much duration risk." "There should be lower spread volatility compared to other [corporate bond] sectors such as high yield, floating rate loans and emerging markets as well," he said.

Persons: haven't, Vishy Tirupattur, Morgan Stanley, Fitch, Tirupattur, Marc Kremer, Franklin, Michael Kessler, I'm, Kessler, He's, Morgan Stanley's Tirupattur, Franklin Templeton's Kremer, Kremer, CNBC's Michael Bloom Organizations: Federal Reserve, UBS, Investment, Franklin Templeton, Franklin Investment Grade Corporate, Albion Financial, Treasury Locations: financials, U.S

It follows a tumultuous spring for regional banks in which Silicon Valley Bank and two other lenders collapsed, forcing regulators to backstop deposits to stave off a broader panic. The proposal, which is subject to industry feedback, would see banks raise their long-term debt issuance by roughly 25%, or $70 billion, according to the FDIC. The agency said banks would have three years from the rule's adoption to meet the new standard. 'COMPELLING CASE'Each bank's debt requirement will be based on their risk-weighted assets, total assets, or total leverage, depending on which number is highest. In a speech previewing the proposals this month, Gruenberg said recent bank failures made "a compelling case" for regulators to impose tougher rules on regional firms.

Persons: Brian Snyder, Martin Gruenberg, Matthew Bisanz, Mayer Brown, “ It’s, Greg Baer, Gruenberg, Ian Katz, Pete Schroeder, Megan Davies, Philippa Fletcher, Andrea Ricci Organizations: First Republic Bank, REUTERS, Rights, Federal Deposit Insurance Corporation, Federal Reserve, Wall, Bank, FDIC, Financial Services Group Inc, Fifth Third Bancorp, Citizens Financial Group Inc, Industry, Bank Policy Institute, Silicon Valley Bank, JPMorgan Chase, FDIC's, Insurance Fund, Capital Alpha Partners, Thomson Locations: Boston , Massachusetts, U.S, Silicon

The new requirement would bring large regional banks more in line with the largest global banks, which already have their own debt requirement. The proposal follows a tumultuous spring for regional banks, which saw three collapse, forcing regulators to backstop deposits to stave off a broader panic. The proposal would mean banks have to raise their long-term debt issuance by roughly 25%, or $70 billion, according to the FDIC. “These banks will have to go into the market issuing capital to meet the capital proposal and then issuing long-term debt to meet the long-term debt proposal," said Matthew Bisanz, a partner at Mayer Brown. The proposed rules were approved by the FDIC at a meeting Tuesday, giving the industry the opportunity to critique the approach.

Persons: Brian Snyder, Martin Gruenberg, Matthew Bisanz, Mayer Brown, Gruenberg, JPMorgan Chase, Ian Katz, ” Rob Nichols, Pete Schroeder, Megan Davies, Philippa Fletcher, Andrea Ricci Organizations: First Republic Bank, REUTERS, Rights, U.S, Federal Deposit Insurance Corporation, FDIC, Financial Services Group Inc, Fifth Third Bancorp, Citizens Financial, Silicon Valley Bank, JPMorgan, FDIC's, Insurance Fund, Capital Alpha Partners, Federal Reserve, American Bankers Association, Thomson Locations: Boston , Massachusetts, U.S, Silicon

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Aug 29 (Reuters) - A top U.S. banking regulator is set on Tuesday to propose heightened rules to ensure regional banks can be safely dissolved in times of stress. Now, regulators are looking to toughen their rules, particularly for regional banks like PNC Financial Services Group Inc and Citizens Financial Group Inc."The failure of three large regional banks this spring...demonstrated clearly the risk to financial stability that large regional banks can pose," said FDIC Chairman Martin Gruenberg in a speech earlier this month previewing the proposals. The regulator is also set to propose an overhaul to "living will" rules for banks, which require firms to detail how they could be safely taken apart after failing. As banks failed last spring, the FDIC was unable to find immediate buyers for some firms, such as Silicon Valley Bank. The banking industry is already pushing back against the upcoming proposal and similar efforts, calling them unjustified and economically harmful.

Persons: Martin Gruenberg, Kevin Lamarque, Gruenberg, JPMorgan Chase, Ian Katz, ”, Rob Nichols, Pete Schroeder, Megan Davies, Andrea Ricci Organizations: Deposit Insurance, Financial, Valley Bank, Signature Bank, Capitol, REUTERS, Rights, Federal Deposit Insurance Corporation, Financial Services Group Inc, Citizens Financial, Inc, FDIC, Silicon Valley Bank, First Republic Bank, JPMorgan, FDIC’s, Insurance Fund, Capital Alpha Partners, American Bankers Association, Thomson Locations: Washington , U.S, Silicon

☆ A turbulent few years for stocks has led to a boom in therapy services for stressed out traders
▼ + stars: | 2023-08-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

After a stressful few years for stocks, traders are flooding the offices of therapists and mental health professionals. Wall Street is seeing elevated rates of depression, anxiety, and substance abuse, psychologists told Insider. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That even applies to professional Wall Street traders, who already work grueling hours in cutthroat environments. Meanwhile, 32% of trading professionals said they had at least considered therapy or mental health services due to stress at work.

Persons: It's, Megan, it's, Goldman Sachs, Dr, Greg Kushnick, he's, Reid Daitzman, He's, Kushnick, Créde Sheehy, Kelly Organizations: Service, Wall, Oasis, Bank of America, of America, Financial, Finance, Quest Diagnostics Locations: Wall, Silicon, California, New, Connecticut

☆ I spent most of my life without a penny in savings, but learning how much I can earn with high-yield savings completely changed my approach
▼ + stars: | 2023-08-26 | by ( Chris Boutté | Avril Ayers | Freelancer | ) www.businessinsider.com time to read: +6 min

I've spent the majority of my life without a single penny in savings, but over the last few years, I've woken up and realized how ignorant I was to not take advantage of high-yield savings accounts. I didn't know much about saving moneyOnce I started educating myself about personal finance that I discovered high-yield savings accounts. Basically, high-yield savings accounts pay out a higher percentage than normal savings accounts by simply storing your money at a certain bank. I found a high-yield savings account that meets my needsThe first thing I did was start researching high-yield savings accounts to see who paid the most. All this required was a quick Google search for "best high-yield savings accounts."

Persons: I've, it's, Banks, They're, Chase, I'd, she's Organizations: Service, Bank of America Locations: Wall, Silicon, Wells Fargo

☆ China regulator met with foreign investors to alleviate concerns - sources
▼ + stars: | 2023-08-25 | by ( Selena Li | ) www.reuters.com time to read: +2 min

[1/2] People walk past the China Securities Regulatory Commission (CSRC) sign at its building on the Financial Street in Beijing, China July 9, 2021. Fang Xinghai, a vice chairman of the CSRC hosted the meeting from Beijing, the sources said. An executive from Fidelity International was among those from the large funds attending, according to one of the sources. Bloomberg first reported the CSRC meeting on Friday. However, the modest stimulus has so far failed to satisfy investors, who want a stronger policy response, including massive government spending.

Persons: Tingshu Wang, HONG KONG, Fang Xinghai, Selena Li, Sumeet Chatterjee, Sharon Singleton Organizations: China Securities Regulatory Commission, REUTERS, Reuters, The China Securities, Regulatory, Fidelity International, Fidelity, Bloomberg, Thomson Locations: China, Beijing, HONG

☆ Here's why this cyber leader still has more room to run, despite recent share-price volatility
▼ + stars: | 2023-08-25 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

But while Palo Alto's share price may be seesawing, the company's underlying business fundamentals and its future growth prospects remain intact. Shares of Palo Alto were up more than 1.4% in afternoon trading Friday, at roughly $230.70 apiece. Palo Alto "is winning business from everybody, and it was one of the most impressive, albeit long, conference calls that I've ever been on." UBS lifted its price target on Palo Alto stock to $260 a share, from $220, while maintaining a neutral rating. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Persons: Palo, CNBC Jim Cramer, Fortinet, Jim, Roger Boyd, Jim Cramer's, Jim Cramer, David Paul Morris Organizations: Palo Alto Networks, Palo, CNBC, Palo Alto, Sales, ISI, Bank of America, Deutsche Bank, RBC Capital Markets, UBS, RBC, Alto Networks, Bloomberg, Getty Locations: Palo Alto, Palo, Santa Clara , California, U.S

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