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☆ The CIO of Citi Global Wealth explains why an upcoming severe market sell-off will present good entry points for investors in 2023 — and shares the 6 areas where he foresees opportunities post-recover
▼ + stars: | 2023-04-08 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

A forthcoming recession will be much worse than investors are expecting, said Citi Global Wealth. The Citi Global Wealth CIO shared the 6 areas he's focusing on to play the recovery. Citi Global Wealth kicked off the new year by announcing that it expected 2023 t0 be the worst year in four decades for the global economy. Like other investors, Bailin is also increasing his exposure to foreign and emerging markets this year. Only when we see a global recovery will we look more broadly at China," Bailin explained.

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☆ Bed Bath & Beyond proposes reverse stock split as it struggles to avoid bankruptcy
▼ + stars: | 2023-04-06 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond wants shareholders to approve a reverse stock split at an upcoming special meeting, as the retailer keeps working to avoid filing for bankruptcy, according to a securities filing late Wednesday. "The Company may be unable to avoid bankruptcy if the Reverse Split Proposal fails to obtain shareholder approval. The beleaguered retailer said the reverse stock split would be at a ratio, to be determined by the board, in the range of 1-for-10 to 1-for-20. The reverse split could also boost Bed Bath's per-share price, which the company expects could improve perception of its stock and attract more investors. Still, even if the reverse split temporarily boosts Bed Bath's share price, the stock offering will eventually dilute it, which happened after the company announced another stock offering in February.

LONDON, April 6 (Reuters) - Banking sector turmoil has not dented demand for equities, with MSCI's world stock index up 7% so far this year. But under the surface, bad omens for world stocks are building. Central bank surveys show U.S. and European banks are already tightening lending standards, historically a predictor of dismal stock market performance. Credit tightening predicts poor stock market returns2/ MANUFACTURING SLOWDOWNRecessions starting in the United States tend to flow to the rest of the world and consequently global stocks. Seven mega-cap tech stocks were responsible for 92% of the S&P 500's first-quarter rise, Citi notes.

☆ Bed Bath & Beyond gets $120 million merchandise lifeline as it faces bankruptcy threat
▼ + stars: | 2023-04-05 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond announced Wednesday it is working with Hilco Global to get merchandise back on its shelves in the company's latest effort to stay alive and avoid bankruptcy. Last week, the company reported preliminary results for its fiscal fourth quarter. The company noted negative operating losses have continued, although it noted it hasn't depleted its free cash flow. The company reported $2.05 billion in revenue for the fiscal fourth quarter of 2021. On March 30, Bed Bath announced another stock offering of $300 million and warned it would likely need to file for bankruptcy protection if it doesn't work out.

☆ The stock market is gearing up for its strongest 4 weeks of the year as another signal suggests the US banking crisis is over
▼ + stars: | 2023-04-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The research firm said the S&P 500 could surge more than 4% to nearly 4,300 by the end of April. Supporting the macro environment is a cool down in bond volatility, which suggests the US banking crisis has ended. The investment research firm analyzed historical seasonal market data that suggests the S&P 500 could surge just over 4% in April to 4,275. "The Rule of 1st five days looks at years when S&P 500 gains >1.4% in 1st five days and is negative the prior year. Also supporting the case for more upside in stock prices is a signal that suggests the US banking crisis that started with the collapse of Silicon Valley Bank last month is nearing its end.

☆ Morgan Stanley says this Latin American e-commerce and payments company is a top pick that could surge nearly 40%
▼ + stars: | 2023-03-31 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors should consider buying shares of MercadoLibre , according to Morgan Stanley. Analyst Andrew Ruben reiterated an overweight rating on MercadoLibre and named it a top pick, saying the Latin American e-commerce and payments company has "multiple sources for earnings upside." "With new EBIT-level builds for eight MELI business lines, we see a durable base of profitable growth drivers," Ruben wrote Thursday. MELI 1D mountain MercadoLibre shares 1-day The analyst's $1,770 price target implies roughly 40% upside from Thursday's closing price of $1,266.80. MercadoLibre shares are 49% higher in 2023, though that follows two dismal years.

☆ Wall Street analysts love these emerging market stocks that all trade in the U.S.
▼ + stars: | 2023-03-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

While U.S. and European investors continue to navigate a banking crisis, high inflation and slower earnings growth, a host of emerging markets stocks beloved by Wall Street analysts are expected to surge higher. Emerging markets equities had an optimistic start to the year as China reopened its economy, and as high inflation showed signs of easing. In 2023, the iShares MSCI Emerging Markets ETF (EEM) is up 4.4% through Thursday's open. In fact, some emerging markets stocks that are also listed in the U.S. could be due for huge upside. These names are included in exchange traded funds such as the the iShares MSCI Emerging Markets ETF, Vanguard FTSE Emerging Markets ETF, iShares Core MSCI Emerging Markets ETF, the Schwab Emerging Markets Equity ETF or the SPDR Portfolio Emerging Markets ETF.

☆ Tesla is poised to rally 13% this year as China deliveries pop after latest price cuts, Wedbush says
▼ + stars: | 2023-03-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Tesla stock is poised to gain 13% this year, as deliveries will surge on the latest price cuts. The EV maker slashed prices for its key models in China, which is expected to boost demand. Wedbush estimated deliveries would hit at least 420,000 this quarter, and reiterated its $225 price target for the stock. Tesla stock has soared 76% since the start of the year, a stark turnaround from its dismal performance in 2022. That led Wedbush to remove Tesla from its Best Ideas list in November, though it has been bullish on the EV maker this year.

☆ BioNTech shares slip on gloomy Covid vaccine sales outlook
▼ + stars: | 2023-03-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of BioNTech on Monday slid by more than 6% in morning trading after the German drugmaker shared a gloomy 2023 sales outlook for its Covid vaccine jointly developed with Pfizer . The drugmaker expects that demand to fall further this year, forecasting Covid vaccine revenue to hit 5 billion euros, or $5.4 billion. BioNTech noted in an earnings release that its efforts to adapt the Covid vaccine to new strains of the virus are expected to increase demand for the product this year. BioNTech is the latest company to forecast a slump in demand for Covid products as the world emerges from the pandemic. Its partner Pfizer told investors in January that it expects Covid vaccine sales to plummet by 64% this year and sales of its Covid antiviral treatment Paxlovid to drop by 58%.

☆ These 4 industries will determine whether US advertising revenue will start to recover this year, according to IPG Mediabrands
▼ + stars: | 2023-03-27 | by ( Ryan Joe | ) www.businessinsider.com time to read: +3 min

The second half of 2023 is "guaranteed" to be better than the second half of 2022. US ad revenue grew 6% in 2022, but spending massively slowed during the second half. If Magna's predictions for a 2023 ad spend recovery come true, it will be led by automotive, entertainment, travel, and insurance, within the finance industry. However, improvements in the auto industry is steering some recovery in ad spend from parts of the finance industry. Still, Letang expects comps in the second half of 2023 to be much better than the dismal second half of 2022.

☆ Michael Saylor's MicroStrategy snaps up another 6,455 bitcoin as token rallies, bringing its total holdings to $3.88 billion
▼ + stars: | 2023-03-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

MicroStrategy bought 6,455 bitcoins for about $150 million in the last five weeks, an SEC filing showed. MicroStrategy also paid off the remaining principal on a $205 million loan from the failed Silvergate Bank. All together, those holdings are worth about $3.88 billion, at the current bitcoin price of about $27,900. The total MicroStrategy paid was $161 million. "MicroStrategy repaid its $205M Silvergate loan at a 22% discount," Saylor tweeted on Monday.

☆ A worker who fears she's getting 'quietly fired' explains 2 warning signs that your company might be trying to push you out
▼ + stars: | 2023-03-26 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

"There's a certain amount of gaslighting that goes on, too, from management," she told Insider. She added that quiet firing typically involved singling out people, rather than employers trying to push out many. "At the end of the day, quiet firing is more about the culture of fear it produces," the account manager said. 'Push, push, push' on harder-to-achieve goalsAnother sign the account manager has seen is an increase in goals. It's just push, push, push."

☆ I'm a SVB employee who lost more than $1 million. Here's the inside story of our struggle to survive.
▼ + stars: | 2023-03-25 | by ( Darius Rafieyan | Mattathias Schwartz | ) www.businessinsider.com time to read: +9 min

The best case outcome — which I think is unlikely, given the brand tarnishing — is that we operate as a wholly-owned subsidiary. We spent a whole weekend on the phone, email, chat, any sort of way to get in touch with the VC firms, partners of the VC firms, operating partners, CFOs, anybody we could to try and get them to rally. Originally there was a list of 13 VC firms, which said they were willing to sign a statement saying that they supported us. We spent a whole weekend on the phone, email, chat, any sort of way to get in touch with the VC firms, partners of the VC firms, operating partners, CFOs, anybody we could to try and get them to rally. Whether you've raised $5 million or you've raised $500 million, you have a dedicated person.

☆ Recessions, bank failures, and stagnant stock returns - experts see a new, difficult era dawning for markets
▼ + stars: | 2023-03-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Wall Street experts see a new era ahead for markets, marked by a more difficult investing environment. Central bankers have already raised interest rates over 1,700% over the last year to quell high prices. Despite the volatility in bank stocks, Fed officials raised interest rates another 25 basis-points this week, bringing the effective Fed funds rate to 4.75-5%. That's the highest interest rates have been since 2007, and the impact of SVB's collapse is likely equivalent to another 50-75 basis points in rate hikes, Moody's chief economist Mark Zandi estimated, meaning real interest rates are even more restrictive. Some experts have argued that SVB's collapse was due to the bank's uniquely high exposure to bonds, which have been weighed down heavily by rising interest rates.

☆ Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium
▼ + stars: | 2023-03-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.

☆ 8 million Chinese youths sat for a test in the style of an 'imperial examination' — all for a job that pays about $7,000 a year
▼ + stars: | 2023-03-17 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +6 min

A record 7.7 million Chinese youths sat for an intense test to try to secure one of 200,000 government jobs. The modern-day civil service tests are not far off the mark from their ancient iterations. In spite of the tough tests required to secure these jobs, civil service jobs are not high paying. "In general, civil service jobs could bring with them benefits for the whole family, like connections to positions of power," Wu said. For those who want to be active participants in the workforce, civil service jobs continue to be a solid option.

Concerns that Chinese investors are buying overseas to make a quick profit at home are valid. Since last year, 11 Chinese companies have raised a combined $3.6 billion by selling GDRs on the Six Swiss Exchange, data from Dealogic show. Savvy punters with access to foreign funds can therefore make a quick and relatively risk-free profit by shorting the Chinese stock and buying the discounted GDRs. This helps explain why Swiss shares of Chinese companies barely trade. Since the launch of a China-Swiss stock scheme in 2022, 11 Chinese companies have raised a combined $3.6 billion, according to data from Dealogic.

A Credit Suisse Group AG office building is seen in Bern, Switzerland, on Wednesday. In October, social media chatter that the Swiss bank was on the brink of going bust sent shares on a wild ride. Credit Suisse has since embarked on a massive turnaround plan that will see it slash 9,000 full-time jobs by the end of 2025. It lost 7.3 billion Swiss francs ($7.9 billion) in 2022, compared to a loss of 8.2 billion Swiss francs ($8.9 billion) in 2008. Investors sent shares in the country’s second biggest lender crashing by as much as 30% Wednesday.

☆ What bear market? These stocks are trading at all-time highs
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As the market struggles to break out of its bear market, there are several stocks that have already soared to all-time highs this year. Here are the S & P 500 stocks that have broken out to all-time highs this year as the rest of the market stagnates. On Monday, Progressive traded at all-time highs dating back to its initial public offering in 1971. Meanwhile, on Monday, W.W. Grainger traded at all-time high levels back to when it began trading in 1967. Also on Monday, power management company Eaton hit all-time highs dating back to its July 1923initial public offering.

☆ The most closely watched recession indicator is telling markets that a downturn won't materialize for another 2 years, Credit Suisse chief stock strategist says
▼ + stars: | 2023-03-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The most closely watched recession indicator is saying a downturn won't happen for another two years. That's because the Treasury futures market suggests the yield curve inversion will last until 2026, Credit Suisse's Jonathan Golub said. Golub predicted a downturn to strike in August 2025 based on historical data. When short term bond yields surpass longer term yields, it is a notorious indicator of an incoming recession. On the more bearish end, Morgan Stanley's chief stock strategist warned of a 26% stock market crash, as higher interest rates weigh on equities.

☆ 'PayPal Mafia' member says Google and Meta intentionally overhired engineers to prevent them from working at other companies.
▼ + stars: | 2023-03-09 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

"PayPal Mafia" member says Google and Meta "do fake work." The companies over-hired thousands of employees to fulfill a "vanity metric," said investor Keith Rabois. He's part of the infamous PayPal cohort (pictured above — he's number nine) that went on to play influential roles at other major tech companies. Rabois estimates that Facebook parent company Meta and Google each have thousands of employees who don't do much. He even suspects that Google intentionally overhired engineers to prevent them from working at other companies.

☆ BNPL Sezzle had a brutal 2022. The fintech's CEO lays out its comeback plan amid a competitive field in payments.
▼ + stars: | 2023-03-06 | by ( Paige Hagy | Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech Sezzle is betting on a comeback after a miserable year for not only itself but the wider buy now, pay later market. Murphy's LawTrue to Murphy's Law, anything that could go wrong did go for Sezzle, Charlie Youakim, Sezzle's CEO, told Insider. In February of 2022, Sezzle announced it would be bought by Zip, another Australian-traded BNPL. The shift leaves room for a "proliferation" of BNPL and other payment options, Savage said. That way, Sezzle can still extend credit to the customer, who can theoretically build on their credit score with short-term payments.

☆ This week's jobs report will help determine if this nascent March rally has legs
▼ + stars: | 2023-03-05 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Where the market heads next will once again depend on inflation data — especially this week's highly anticipated jobs report. No portfolio companies report earnings next week. However, with mortgage rates bouncing back in recent weeks, it remains to be seen if the strong monthly report will see any follow up. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Dow Breaks Four-Week Losing Streak After Services Data
▼ + stars: | 2023-03-03 | by ( Matt Wirz | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

U.S. stocks gained Friday after data on the U.S. services sector showed its strongest activity since the summer. The signs of economic resilience outweighed concerns about inflation and tighter global monetary policy that prompted selling earlier in the week. The Nasdaq Composite jumped 226.02 points, or 2%, to 11689.01 as technology stocks recovered some of their losses from a dismal performance in February. The S&P 500 advanced 64.29 points, or 1.6%, to 4045.64 and the Dow Jones Industrial Average gained 387.40 points, or 1.2%, to 33390.97.

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