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☆ Morgan Stanley's best stock picks to play the transition to clean energy
▼ + stars: | 2023-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The transition to clean energy won't be equal across sectors, according to Morgan Stanley Research. The Wall Street bank broke down segments of the energy transition that will benefit and others that will be challenged by the transition to clean energy. For this list, CNBC picked stocks Morgan Stanley thinks stand to benefit from the move toward clean energy, with a special focus on shares with overweight and equal weight ratings. The stocks in this list fall into one of four categories: — Energy storage and fuel cells. "Not all incumbent utilities will gain from the energy transition," Byrd wrote Wednesday.

Persons: Morgan Stanley, Stephen Byrd, Stocks, Byrd, Morgan Stanley's Organizations: Morgan Stanley Research, CNBC, Products, Chemicals Inc, Linde PLC, Air Products, Chemicals, Energy, Occidental Petroleum, Exxon Mobil, Chevron, Oil, Pacific Gas and, Edison International Locations: California, U.S

☆ Bill Ackman calls on JPMorgan CEO Dimon to run for US president
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Billionaire hedge fund manager Bill Ackman said Jamie Dimon should run for president in the next U.S. elections after the JPMorgan Chase & Co (JPM.N) CEO expressed his interest in pursuing a public office. loadingAckman called Dimon an "exemplary leader" and lauded him for having "superbly managed" JPMorgan through every crisis. There have been speculations about Dimon's potential presidential run in the future. "If he decides to get out of banking, I think he would be really good in politics," former President Bill Clinton once said of Dimon. In the 2016 presidential election, Ackman had urged former New York City Mayor and billionaire Michael Bloomberg to run for president.

Persons: Bill Ackman, Jamie Dimon, Dimon, Ackman, Donald Trump, Bill Clinton, Michael Bloomberg, Niket, Bayliss, Jaiveer, Anil D'Silva Organizations: Billionaire, JPMorgan Chase &, Bloomberg, JPMorgan, Trump, Pershing, Capital Management, Street, New, New York City, Svea Herbst, Thomson Locations: China, United States, New York, Bengaluru, Svea

☆ These companies are winners in the debt ceiling deal
▼ + stars: | 2023-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —The debt ceiling deal in Washington did not set off a celebration in the stock market. The Sierra Club called on Congress to reject the deal and pass a clean bill to raise the debt ceiling. Wall Street is also betting lending company SoFi will cash in from the debt ceiling deal because it calls for borrowers to start paying back federal student loans at the end of the summer. IRS funding cuts, defense spending intactMeanwhile, the debt ceiling deal would shift a total of $20 billion in IRS funding from fiscal 2024 and fiscal 2025 to be used in non-defense areas. The defense industry is also emerging largely unscathed from the debt ceiling battle, unlike in 2011 when Washington agreed to significant defense spending cuts.

☆ Wall Street: All aboard the Goldman jet
▼ + stars: | 2023-05-29 | by ( Lisa Ryan | ) www.businessinsider.com time to read: +3 min

Today's a doubleheader of a holiday — Memorial Day in the US and the spring bank holiday in the UK. Because who doesn't want to dive into the inner workings of Wall Street on a holiday? Prestigious Wall Street banks are ditching marijuana testing for job seekers. ChatGPT could upend jobs across Wall Street. The Rainmakers: Top investment banks still pushed blockbuster deals over the line in what was a tough year for M&A.

☆ How to dress for your Wall Street summer internship, from Lululemon trousers to Allbird sneakers
▼ + stars: | 2023-05-29 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

From Allbirds sneakers to Lululemon pants, Wall Street work attire has gotten more casual. It's an awkward time for the Wall Street wardrobe. Trying to nail the modern Wall Street look can be intimidating. But blazers still have a place on Wall Street, even if they're not as omnipresent as they once were. All-white Sam Smith sneakers is now acceptable Wall Street internship attire.

☆ These financial stocks were most loved—and hated—by hedge funds during the banking crisis
▼ + stars: | 2023-05-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The banking crisis wreaked havoc in the industry in recent months, and hedge funds have been picking winners and losers among financial stocks, according to Goldman Sachs. Goldman then identified financial and real estate stocks with the largest recent changes in ownership among hedge funds. As for financial and real estate stocks that hedge funds sold the most in the first quarter, Welltower topped the list with 26 funds dumping the name. A number of hedge funds also decreased their exposure to Visa and CME Group . East West Bancorp , Aon , First Interstate BancSystem and Discover Financial Services were other names that hedge funds hated last quarter amid the banking chaos.

Persons: Goldman Sachs, Goldman, Charles Schwab, Welltower, Warren Buffett, Berkshire Hathaway Organizations: Focus Financial Partners, Investors, Valley Bank, First, Fidelity National, SLM Corp, Everest, Visa, CME Group, U.S . Bancorp, East West Bancorp, Aon, Discover Financial Services Locations: BlackRock, First Republic, U.S, Omaha

☆ These 4 stocks are on Goldman's 'conviction buy' list — and it gives one 115% upside
▼ + stars: | 2023-05-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

A look at Goldman Sachs' "conviction buy" stocks this year reveals some names with serious upside potential. The bank gave Sensata a price target of $60, or around 43% potential upside from its current level. ASML Goldman named Dutch semiconductor firm ASML in its screen of "long-term quality compounders" earlier this year. Goldman gave the U.S.-listed shares of Alibaba a 12-month price target of $136, or potential upside of 58%. Goldman gave the stock a price target of 37.30 euros ($40.20), or nearly 115% potential upside.

May 21 (Reuters) - The absence of women from the slate of potential Morgan Stanley (MS.N) CEO successors underscores the importance of cultivating and keeping diverse talent, corporate governance experts say. Morgan Stanley co-presidents Ted Pick and Andy Saperstein, and head of investment management Dan Simkowitz, are the front-runners to succeed James Gorman, who said on Friday he plans to step down as chief executive within a year. The most recent U.S. workforce diversity data comprehensively reported by the Wall Street banks shows women were less represented in leadership positions at Morgan Stanley than at other top U.S. banks as of 2021. A Morgan Stanley representative declined to comment. To be sure, Morgan Stanley has several women in top roles, including Chief Financial Officer Sharon Yeshaya.

☆ Morgan Stanley CEO James Gorman plans to step down after years of making the bank the envy of Wall Street. Here's a look at his legacy.
▼ + stars: | 2023-05-19 | by ( Rebecca Ungarino | Alex Morrell | Dakin Campbell | ) www.businessinsider.com time to read: +11 min

Morgan Stanley CEO James Gorman said he will step down in the next 12 months. Morgan Stanley CEO James Gorman was giddy. Seeking stabilityTo understand where Morgan Stanley is now, you need to return to the peak of the financial crisis. It didn't take long before Morgan Stanley began utilizing its new license to acquire clients' deposits, reducing its reliance on wholesale funding. Mack, who helped design the 1997 Morgan Stanley and Dean Witter merger, had been pushed out by Purcell in 2001.

☆ Slowdown, recession or boom? Bank of America reveals the global stocks to play each eventuality
▼ + stars: | 2023-05-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The investment bank screened for stocks based on their ability to withstand fluctuations in a slowdown, recession, and boom. "Historically, the 'Recession' phase is the typical successor of the 'Slowdown' phase, but a 'Boom' phase has also followed 'Slowdown' in the past." Under this scenario, Bank of America screened for stocks that are "high quality, [large] size, growth-over-value, rising momentum and low risk". For this scenario, Bank of America looked for stocks it defined as high quality, large, value-over-growth, and low risk. For this eventuality, the Wall Street bank identified stocks it considers value-over-growth, rising momentum, high risk, small market cap, and low quality.

☆ Here are the 2 very different execs in contention to be CEO of Morgan Stanley
▼ + stars: | 2023-05-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

James Gorman announced that he will step down as Morgan Stanley CEO in the next year. The three executives in contention are co-presidents Ted Pick and Andy Saperstein, as well as Dan Simkowitz, head of investment management at Morgan Stanley. Morgan Stanley declined to comment. But the long-time Morgan Stanley executives have distinct leadership styles and backgrounds. Do you work for Morgan Stanley?

☆ AI could boost S&P 500 profits by 30% or more over the next decade, Goldman Sachs' strategist says
▼ + stars: | 2023-05-18 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

AI technology could boost S&P 500 profits by 30% or more over the next decade, a Goldman strategist said. "The real source of optimism now is productivity enhancements through artificial intelligence," Ben Snider said. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyArtificial intelligence technology could boost S&P 500 profits to new highs over the next decade, according to a senior strategist at Goldman Sachs. And that could increase S&P 500 profits by 30% or more over the next decade," the Wall Street bank's Ben Snider told CNBC on Thursday. "A lot of the favorable factors that led to that expansion (of S&P 500) earnings seem to be reversing," Snider said.

☆ European stocks head for lower open as U.S. debt ceiling talks overshadow market sentiment
▼ + stars: | 2023-05-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Morgan Stanley has identified several stocks to invest in as electric vehicle battery manufacturing shifts to the West. As countries aim to reduce their dependency on China, which currently dominates 90% of the EV battery market, they will need to create a new supply chain for a decarbonized future, according to the Wall Street bank. It identified a number of potential winners and losers from the process. CNBC Pro subscribers can read more here. — Ganesh Rao

☆ Tesla and more: Morgan Stanley names EV stocks set to benefit as supply chain move West
▼ + stars: | 2023-05-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Morgan Stanley has identified several stocks to invest in as electric vehicle battery manufacturing shifts to the West. EV giant Tesla , auto parts maker Aptiv , and battery maker Freyr rank highly, according to Morgan Stanley, while Ford and Chinese batter maker CATL rank lower. Tesla Tesla is well placed to overcome the three challenges, Morgan Stanley said. Ford / CATL Morgan Stanley noted that companies like Ford and Chinese battery maker Contemporary Amperex Technology, or CATL, might face challenges when it comes to "onshoring" due to geopolitical concerns and potential technological barriers. Ford will own the new facility but will license battery manufacturing technology from CATL, including technical expertise.

NEW YORK/WASHINGTON, May 15 (Reuters) - As talks over raising the U.S. government's $31.4 trillion debt ceiling intensify, Wall Street banks and asset managers have begun preparing for fallout from a potential default. Citigroup (C.N) CEO Jane Fraser said this debate on the debt ceiling is "more worrying" than previous ones. U.S. government bonds underpin the global financial system so it is difficult to fully gauge the damage a default would create, but executives expect massive volatility across equity, debt and other markets. Banks, brokers and trading platforms are prepping for disruption to the Treasury market, as well as broader volatility. Bond trading platform Tradeweb said it was in discussions with clients, industry groups, and other market participants about contingency plans.

☆ Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.
▼ + stars: | 2023-05-14 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

Fears of a US debt default are mounting as a deadline to raise the government's borrowing limit draws near. Investors anxiety over the risk of a US debt default is mounting rapidly as a months-long political deadlock over the government's borrowing limit continues. Here's what six prominent figures have said about the ongoing political standoff over the debt ceiling. "You might ask how we're supposed to enforce a debt ceiling if the government can play games with the definition of debt. He said he doesn't expect the US to experience a debt default, but the deadline to reach a deal is soon approaching.

☆ Why the US needs regional banks
▼ + stars: | 2023-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

But those mega-banks lack the dexterity and regional specialization that small businesses crave, which is partly why Corporate America and policy makers alike are worried about the continued turmoil among regional banks. In just two months, a spark of panic has turned into a conflagration that has put America’s regional banks on notice. All of those banks share a status in common as a “regional” or “sector-specific” lender. By definition, regional banks are more specialized and focused. Without raising the cap, Hockett argues, we risk letting the Wall Street banks gobble up their smaller competition when those regional lenders fail.

☆ Goldman Sachs created an A.I.-powered social media startup for corporate use
▼ + stars: | 2023-05-12 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Now Doctor is hustling to grow his client base beyond the confines of Goldman, whose employees have used Louisa for the past two and a half years. "Think of Louisa as an A.I.-powered LinkedIn on steroids," Doctor, 42, said this week in an interview. Louisa was part of the inaugural class of Goldman's incubator program, which encourages employees with startup ideas to develop them in-house. Rohan Doctor, CEO and founder of Louisa Source: Goldman SachsThere has to be a better way, thought Doctor. The company's name originally referred to Louisa Goldman Sachs, the youngest daughter of Marcus Goldman and wife of Samuel Sachs.

☆ Goldman Sachs names 3 stocks to gain from Germany's $440 billion clean energy plans
▼ + stars: | 2023-05-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Goldman Sachs named the three global companies it expects to benefit from the German government's plan to spend nearly half a trillion euros on renewable energy infrastructure. The proposed measures include a 2030 target to have 80% renewable energy and cheaper financing for developers of clean energy sources through green bonds. Goldman Sachs has estimated that this German plan will create investment opportunities worth nearly 400 billion euros ($440 billion) in clean energy and power grid infrastructure. RWE Goldman Sachs said RWE , a renewable energy generator, could accelerate the development of clean energy projects and capture a market share equivalent to its current installed base globally. Goldman Sachs added that the U.S.'s IRA and Europe's REPowerEU initiative would also be a tailwind for the company's growth plans.

☆ Wall Street style guide: Bankers break down what interns should — and should not — wear this summer, from Lululemon trousers to Allbird sneakers
▼ + stars: | 2023-05-10 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

From Allbirds sneakers to Lululemon pants, Wall Street work attire has gotten more casual. It's an awkward time for the Wall Street wardrobe. Trying to nail the modern Wall Street look can be intimidating. But blazers still have a place on Wall Street, even if they're not as omnipresent as they once were. "If you're going to do a sneaker, it's got to be what I call a 'fashion sneaker.'

☆ Goldman Sachs to Pay $215 Million to Settle Female Employees’ Discrimination Case
▼ + stars: | 2023-05-09 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

The class-action lawsuit alleged Goldman Sachs systematically discriminated against female employees. Photo: Michael M. Santiago/Getty ImagesGoldman Sachs has agreed to pay $215 million to settle a class-action lawsuit with a large group of former and current female employees, ending a long-running case that alleged the Wall Street bank systematically discriminated against women. For the next three years, the U.S. bank will have an independent expert analyze how it evaluates its employees’ performance, and how it elevates staffers from junior to senior positions, according to a statement late Monday that detailed some of the settlement terms. An independent expert would also do pay-equity studies to address any gender pay gaps.

☆ Goldman Sachs to pay $215 mln to settle gender discrimination lawsuit
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Goldman Sachs Group Inc (GS.N) has agreed to pay $215 million to settle a long-running class-action lawsuit that alleged widespread bias against women in both pay and promotions, a joint statement from the company and the plaintiffs said. The plaintiffs, former employees of the Wall Street bank, accused Goldman Sachs of systematically paying women less than men, and giving women weaker performance reviews that impeded their career growth. The settlement covers about 2,800 female associates and vice presidents employed in the investment banking, investment management and securities divisions of Goldman Sachs, according to the statement. We will continue to focus on our people, our clients, and our business,” said Jacqueline Arthur, Goldman Sachs' global head of human capital management. As part of the settlement, Goldman Sachs will also hire independent experts to conduct additional analysis on performance evaluation and gender pay gaps, the statement added.

☆ Goldman Sachs to pay $215 million to settle discrimination claims from female employees
▼ + stars: | 2023-05-09 | by ( ) edition.cnn.com time to read: +1 min

Goldman Sachs has agreed to pay $215 million to settle a long-running class-action lawsuit that alleged widespread bias against women in both pay and promotions, a joint statement from the company and the plaintiffs said. The plaintiffs, former employees of the Wall Street bank, accused Goldman Sachs (GS) of systematically paying women less than men, and giving women weaker performance reviews that impeded their career growth. The settlement covers about 2,800 female associates and vice presidents employed in the investment banking, investment management and securities divisions of Goldman Sachs, according to the statement. We will continue to focus on our people, our clients, and our business,” said Jacqueline Arthur, Goldman Sachs’ global head of human capital management. As part of the settlement, Goldman Sachs will also hire independent experts to conduct additional analysis on performance evaluation and gender pay gaps, the statement added.

☆ Goldman Sachs names a slew of energy companies to buy right now as attitudes shift
▼ + stars: | 2023-05-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Goldman Sachs has identified a number of energy stocks to own ahead of an expected turn in the market's sentiment toward the oil and gas sector. Goldman's analysis comes after the energy sector posted stellar gains last year. Goldman expects a 10% increase in revenue from green investments at these companies this year compared to last year. The trend also indicates that a turning point may be approaching where larger energy companies could attract even more investment if they continue transitioning toward greener practices, the analysts added. Oil and gas companies have also been particularly attractive to investors over the past year thanks to their bumper profits.

The visit is Dimon's first to mainland China since the pandemic gathered pace in 2020 and closed the world's second-largest economy for almost three years as it enforced some of the world's most stringent restrictions. He will also visit Hong Kong in early June after the Shanghai trip, two of the sources added. Dimon visited the Asian financial hub of Hong Kong to meet the bank's staff and clients in November 2021. A JPMorgan spokesperson in Hong Kong declined to comment on Dimon's visit to mainland China and Hong Kong. Reporting by Julie Zhu in Hong Kong, Scott Murdoch in Sydney and Nupur Anand in New York; Editing by Sumeet Chatterjee and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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