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☆ Bill Saluga, a Memorable Comedic Wiseguy, Is Dead at 85
▼ + stars: | 2023-05-16 | by ( Richard Sandomir | ) www.nytimes.com time to read: +1 min

Raymond J. Johnson Jr. was a wiseguy, dressed in a zoot suit and a wide-brimmed fedora and waving a cigar in his right hand. “Ohhhh, you doesn’t have to call me Johnson,” he would say. Jr.“But you doesn’t have to call me Johnson.”And you can call his creator Bill Saluga. Mr. Saluga also played Johnson on various television series; on a disco record (“Dancin’ Johnson”); and, most memorably, in commercials for Anheuser-Busch’s Natural Light beer. In 1979, at the peak of Mr. Saluga’s fame as a comedic one-hit wonder, Tom Shales of The Washington Post wrote that “now everybody and his brother are doing Saluga impressions throughout this very impressionable land of ours.”

☆ US regional banks rise in attempt to shake off crisis of confidence
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

... Read moreMay 15 (Reuters) - Shares of U.S. regional lenders gained on Monday led by a rebound in PacWest Bancorp (PACW.O), as investors tried to look past the crisis of confidence brought on by the collapse of three banks in a span of two months. PacWest rose 8.4%, while Western Alliance Bancorp (WAL.N), Fifth Third Bancorp (FITB.O), Comerica Inc (CMA.N) and KeyCorp (KEY.N) were up between 2% and 6%. The KBW Regional Banking Index (.KRX), which had lost 13.7% so far this month, rose 2%. Then in May First Republic collapsed, creating a vicious cycle that put pressure on regulators to intervene. However, investors have remained wary of any reassurances from analysts and regulators on the stability of the regional banks despite deposits rising.

"And as Washington leaks out increments with rolling disclosure about how the discussions are proceeding ... that probably is bolstering confidence in investors." ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were up 7.5 points, or 0.18%, and Nasdaq 100 e-minis were up 20.75 points, or 0.15%. Atlanta Fed President Raphael Bostic said on Monday he does not expect any interest-rate cuts this year as he does not see inflation going down as fast as market participants believe. Chicago Fed President Austan Goolsbee, Minneapolis Fed President Neel Kashkari and Fed Board Governor Lisa Cook are among other Fed officials set to speak later in the day. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

May 14 (Reuters) - ONEOK Inc (OKE.N) agreed on Sunday to buy U.S. pipeline operator Magellan Midstream Partners (MMP.N) in a cash-and-stock deal valued at about $18.8 billion including debt, bringing natural gas-focused ONEOK into transporting refined products and oil. The deal will give ONEOK, until now a transporter of natural gas liquids and natural gas, access to Magellan's refined products and crude oil transportation business. The combined company will have 44% of its business in NGLs, and 21% in refined products, according to a presentation. The deal comes as U.S. natural gas prices have struggled this year because of oversupply concerns. Crude prices have traded off in 2023 on potential recession fears, although not as badly has natural gas.

Raymond James thinks Charles Schwab 's core business remains healthy despite concerns about the volatility in the banking system. Schwab's "core franchise [is] still healthy," the analyst wrote in a Monday note to clients. "Importantly, concerns about the stability of the banking system have not impaired Schwab's ability to attract new accounts and assets. In fact, net new accounts grew at a 4.3% annualized pace in 1Q23 while core net new assets grew at a 7.5% pace." To be sure, he noted that elevated cash sorting "is a stark reminder of the interest rate risk inherent within Schwab's business model."

☆ Charles Schwab's shares climb after an upgrade. Here's what the experts say to do next
▼ + stars: | 2023-05-15 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts as Charles Schwab 's shares jumped to close the trading day up 4% after an upgrade from Raymond James . The experts, including Jim Cramer , discussed the bank stock after the firm hiked its rating on Schwab to outperform from market perform. Raymond James has a price target of $63, on the stock, reflecting upside of roughly 24% from Monday's close, as Schwab continues to draw in new accounts and assets during this volatile period for financials.

☆ Stocks making the biggest premarket moves: Shake Shack, Charles Schwab, H&R Block, DuPont and more
▼ + stars: | 2023-05-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Charles Schwab -- Stock in the brokerage firm added 2.4% in premarket trading. SoFi Technologies -- The stock sank nearly 6% in the premarket following a downgrade by Wedbush to underperform from neutral. The Wall Street firm said SoFi's fee income may be reaching a tipping point and it may need to raise capital this year to support growth. Dupont De Nemours -- Shares added 2.7% in premarket trading after Deutsche Bank upgraded the chemical company to buy from hold. The Wall Street firm said the stock was trading at a 50% discount to its peers.

☆ Here are Monday's biggest analyst calls: Apple, Exxon, Crox, Meta, JPMorgan Chase, SoFi, DuPont & more
▼ + stars: | 2023-05-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "

☆ Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oneok shares slid 7.7%. The IRS is due to release the report this week, the Wall Street Journal reported. Activision shares added 1%, while Microsoft was little changed. The Wall Street firm said shares trade at a significant discount to peers. The Coach and Kate Spade parent has a strong valuation and long-term investment case, the Wall Street firm said.

☆ TipRanks reveals the top 10 financial sector analysts of the past decade
▼ + stars: | 2023-05-14 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +10 min

To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. Top 10 analysts from the financial sector The image shows the most successful Wall Street analysts from the financial sector, in descending order. 3 on TipRanks' top 10 financial analysts list. To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. 3 on TipRanks' top 10 financial analysts list.

☆ Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
▼ + stars: | 2023-05-11 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +19 min

The 73 EEOC claims brought by individual former employees against the company sparked the larger pattern or practice investigation into age discrimination. Only a fraction of EEOC age discrimination complaints — 2.8% in fiscal 2021 — resulted in reasonable cause determinations, EEOC data show. It went from running six bowling alleys to 272 overnight after it acquired AMF, which was then the largest bowling company in the world and was in bankruptcy. The following year, Shannon's company acquired the Brunswick Corporation, the second-largest bowling company in the world, and changed his company's name to Bowlero. Dowe said negotiations fell apart when Bowlero countered the EEOC's $60 million settlement proposal with a proposal of $500,000.

Circuit Court of Appeals ruled in favor of private equity executive John Wilson and former casino executive Gamal Aziz, the first two people to face trial of the dozens charged in the sprawling "Operation Varsity Blues" probe. All of Aziz's convictions were set aside, and all but one of Wilson's convictions were aside. Wilson and Aziz were the first to go to trial in 2021. A former University of Southern California water polo coach convicted in the second trial later won a new trial, and another parent was acquitted in the third trial. Aziz and Wilson were sentenced in February 2022 to 12 months and 15 months in prison, respectively.

☆ PacWest leads losses in regional bank stocks
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Shares of PacWest Bancorp (PACW.O) looked set to lead declines in U.S. regional lenders at market open on Tuesday as investors feared the ongoing banking crisis could deepen. The KBW Regional Banking Index (.KRX) hit a 30-month low last week after the collapse of First Republic Bank and PacWest's decision to explore strategic options. PacWest and Western Alliance, which have been at the heart of the sell-off in regional banks, saw the steepest decline in deposits in the first quarter after First Republic, according to S&P Global Market Intelligence data. Western Alliance (WAL.N) dropped 1.5%, while First Horizon Corp (FHN.N) and Zion Bancorp (ZION.O) dipped 0.1% and 0.3%, respectively, with Arfstrom noting that the pullback in banks shares overall have made their valuations attractive. Wall Street executives and bank analysts last week called on regulators to quickly provide more protection for bank deposits and consider other backstops, arguing only an intervention could stop the crisis.

☆ Here are Tuesday's biggest analyst calls: Microsoft, Apple, Alphabet, JPMorgan, PayPal, Shoals & more
▼ + stars: | 2023-05-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan initiates Alkami as overweight JPMorgan said the regional banking software company has strong fundamentals. " Bernstein reiterates Microsoft as outperform Bernstein said AI is going "everywhere and in everything" that Microsoft does. Goldman Sachs reiterates PayPal as buy Goldman said it sees further earnings upside after the company's earnings report on Monday. " Raymond James reiterates Palantir as strong buy Raymond James said it's standing by its strong buy rating on shares of the AI beneficiary. Credit Suisse downgrades PayPal to neutral from outperform Credit Suisse said it's too "challenging" to recommend shares right now.

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The latest case in point: The Federal Deposit Insurance Corp (FDIC) chose JPMorgan Chase & Co (JPM.N) as the winning bidder in an auction to buy collapsed lender First Republic Bank on Monday. FDIC officials, however, say would-be buyers risk losing out if they allow the value of an acquisition target to deteriorate over time while waiting for an FDIC receivership. SWEETENERSU.S. bank mergers were already sluggish as interest rates rose and recession loomed, analysts at Raymond James wrote in an Apr. The first quarter was the quietest opening to a year for bank deals in a generation, they said. Market volatility stops bank buyers from pulling together enough money to cover writedowns on struggling assets, which would be triggered by a traditional acquisition, said David Sandler, co-head of financial services investment banking at Piper Sandler Companies (PIPR.N).

☆ Here are Thursday's biggest analyst calls: Apple, Western Alliance, Berkshire Hathaway, Wix & more
▼ + stars: | 2023-05-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"We are initiating coverage of ZI with a BUY rating and a $30 target as a rare value investment within software. Citi upgrades Deutsche Bank to buy from neutral Citi said the global investment bank is at an "attractive entry point." " Deutsche Bank is one of the most de-rated banks YTD, yet the 1Q23 results demonstrated potential for further consensus earnings upgrades." Rosenblatt reiterates Apple as buy Rosenblatt said it's standing by its buy rating heading into earnings on Thursday after the bell. " CFRA reiterates Berkshire Hathaway as hold CFRA said it's standing by its "fairly valued" hold rating heading into Berkshire earnings on Saturday.

☆ Pressure grows for US regulatory intervention as bank rout deepens
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +4 min

"Investors are clearly continuing to focus on remaining players that are deemed the weakest," wrote UBS banking analyst Erika Najarian on Thursday. The Federal Deposit Insurance Corp. did not respond to a request for comment. Critics say increasing deposit insurance could encourage risk-taking, and note regulators have fewer tools to rescue banks following the 2008 financial crisis. The latest crisis began in March when runs on Silicon Valley Bank and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks. To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.

☆ There are limited options to fix the banking crisis, but one is gaining support
▼ + stars: | 2023-05-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Ackman didn't provide specifics on how he thinks a deposit guarantee program would work, but he said one is essential to restore investor confidence in regional banks. That has put pressure on midsize banks, and the S & P Regional Bank ETF has fallen 40% year to date. Short sellers have ganged up on some regional banks on the prospect that even those that are rescued or merged will see stock holders wiped out. "Renewed stress among regional bank stocks after market close may cause [Washington, D.C.] to reconsider priorities," Mayo said in a client note. "Unfortunately, there is a significant disconnect between the renewed pressure on regional banks and DC's posture," Mills said in a note.

☆ Here are Wednesday's biggest analyst calls: Apple, Chewy, Disney, Wells Fargo, AMD, Coinbase & more
▼ + stars: | 2023-05-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America upgrades Pearson to buy from underperform Bank of America said the selloff in the British education company is overdone. Bank of America upgrades Cogent to buy from underperform Bank of America upgraded the internet services provider and says it sees "new sales growth." Bernstein upgrades Marriott to outperform from market perform Bernstein said the hotel giant has the "highest quality" earnings stream. " Evercore ISI reiterates Wells Fargo as outperform Evercore said it's sticking with the larger banks as regional concerns continue. Berenberg upgrades HSBC to buy from hold Berenberg said in its upgrade of the UK bank that it's "structurally attractive."

☆ Mills: The earlier debt ceiling deadline increases the risk to equity markets in the short-term
▼ + stars: | 2023-05-02 | 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 EmailMills: The earlier debt ceiling deadline increases the risk to equity markets in the short-termEd Mills of Raymond James discusses why the new debt ceiling deadline of June 1st leaves even less room by lawmakers for error, but also increases the chances for a short-term extension to remove the risk of default.

☆ Here are the top 10 Wall Street research firms of the past decade, according to TipRanks
▼ + stars: | 2023-04-30 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

Henry Nicholls | ReutersAfter identifying the 10 best analysts on Wall Street of the past decade, here is a list of the 10 top research firms. To create this list, TipRanks analyzed every stock recommendation made by investment research firms in the past decade. This explains why some research firms may have a higher success rate and average return yet rank lower. TipRanks has leveraged its Experts Center tool to identify the top 10 research firms. Top 10 Wall Street Research FirmsThe image below shows the most successful Wall Street research firms in descending order.

☆ Earnings season shows consumers still spending despite inflation, says Raymond James’ Matt Orton
▼ + stars: | 2023-04-28 | 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 EmailEarnings season shows consumers still spending despite inflation, says Raymond James’ Matt OrtonG Squared’s Victoria Greene and Raymond James’ Matt Orton, join 'Closing Bell: Overtime' to discuss their takeaways after a big earnings week and what it means for the Fed meeting next week.

☆ Watch CNBC’s full interview with G Squared’s Victoria Greene and Raymond James’ Matt Orton
▼ + stars: | 2023-04-28 | 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 G Squared’s Victoria Greene and Raymond James’ Matt OrtonG Squared’s Victoria Greene and Raymond James’ Matt Orton, join 'Closing Bell: Overtime' to discuss their takeaways after a big earnings week and what it means for the Fed meeting next week.

☆ Here are Wednesday's biggest analyst calls: Tesla, Coinbase, Apple, Microsoft, Alphabet, Roku & more
▼ + stars: | 2023-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Needham upgrades TransUnion to buy from hold Needham upgraded the stock after its earnings report Tuesday. Deutsche Bank reiterates Apple as buy Deutsche said it's standing by its buy rating heading into earnings next week. Bank of America downgrades Danaher to neutral from buy Bank of America downgraded the commercial products company after a "disappointing" earnings report. Bank of America reiterates General Motors as buy Bank of America said it's standing by its buy rating after the company's earnings on Tuesday. " Bank of America reiterates Roku as buy Bank of America said it's bullish heading into Roku earnings after the bell on Wednesday.

The sale effort comes as Millennium Trust's business is buoyed by higher interest rates adopted by the U.S. Federal Reserve to fight inflation. Credit ratings agency S&P Global Inc said last month the higher rates boost the revenue Millennium Trust receives from allowing customers to borrow against their retirement accounts. Millennium Trust will also entertain the sale of a minority stake to a private equity firm, should an outright sale not be feasible, the sources said. Millennium Trust generates north of $500 million in 12-month earnings before interest, taxes, depreciation and amortization (EBITDA), according to the sources. Raymond James, Parthenon and Millennium Trust did not immediately respond to requests for comment.

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