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☆ Stocks to watch as Idalia makes landfall in Florida
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. Idalia is predicted to transform into a Category 3 on the Saffir-Simpson Hurricane Wind Scale when it makes landfall in northern Florida's Big Bend area, where the panhandle transitions into the peninsula, the National Hurricane Center said. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Duke Energy Corp (DUK.N) said on Monday it is mobilizing approximately 4,500 people - power line technicians, vegetation workers, damage assessors and support personnel – to respond to power outages as Idalia reaches Florida.

Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, –, Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York

Nvidia shares, which had run up in the days leading up to its report, climbed more than 6% on Thursday but pared gains to end the day little changed. However, Nvidia's stock buyback - the fifth-biggest repurchase announcement among U.S.-based companies this year, according to EPFR - surprised some investors. Despite the staggering dollar amount, Nvidia's buyback amounted to only 2.1% of its nearly $1.2 trillion market value, or buyback yield, as of Wednesday. Indeed, some investors welcomed Nvidia's buyback decision. "It’s a show of confidence," said Francisco Bido, senior portfolio manager for F/M Investments' large cap focused fund, which holds Nvidia shares.

Persons: Dado Ruvic, Lip, Daniel Morgan, Morgan, Refinitiv, Tom Plumb, Plumb, buyback, Howard Silverblatt, Dow, Daniel Klausner, Houlihan Lokey, Nvidia's, Francisco Bido, Lewis Krauskopf, Chibuike Oguh, Lance Tupper, Echo Wang, Stephen Nellis, Ira Iosebashvili, Matthew Lewis Organizations: NVIDIA, REUTERS, Nvidia, Companies, Wealth Management, Synovus, Plumb Funds, Arm Holdings, Dow Jones, Apple, Tech, Investments, Thomson Locations: New York, San Francisco

Aug 24 (Reuters) - Shares in online mortgage lender Better's (BETR.O) new public listing plummeted on Thursday as investors fretted over record-high mortgage rates. In the interim, roughly 95% of Aurora shareholders redeemed their holdings, leaving the trust account with just about $24 million at the end of June from about $283 million. Aurora went public in March 2021. Better is going public as U.S. mortgage rates continue to surge, with the popular 30-year fixed rate last week hitting the highest level since December 2000, helping drive mortgage applications to a 28-year low, the Mortgage Bankers Association said on Wednesday. Reporting by Hannah Lang and Lance Tupper in Washington; Editing by Mark Porter and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Aurora, Vishal Garg, Hannah Lang, Lance Tupper, Mark Porter, Jonathan Oatis Organizations: Nasdaq, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, Aurora, refinancings, Mortgage Bankers Association, Thomson Locations: SoftBank, Washington

☆ Berkshire Hathaway stock scales record as operating profit tops $10 bln
▼ + stars: | 2023-08-07 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermidAug 7 (Reuters) - Berkshire Hathaway's (BRKa.N) stock price set a record high on Monday, rising more than 2%, after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time. In morning trading, Berkshire's stock price rose $14,300, or 2.7%, to $547,900, surpassing the previous high $544,000 set on March 28, 2022. Keefe, Bruyette & Woods analyst Meyer Shields, who rates Berkshire "market perform," raised his price target to $565,000 from $545,000. In 2023, Berkshire shares have slightly trailed the index, after outpacing it in 2022.

Persons: Brendan McDermid, Warren Buffett, Clayton, Brian Meredith, Keefe, Meyer Shields, Buffett, Jonathan Stempel, Chuck Mikolajczak, Lance Tupper, David Gregorio Our Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Clayton Homes, Apple, Berkshire, UBS, Woods, Thomson Locations: Berkshire, New York City, U.S, Omaha , Nebraska, New York

☆ Analysis: While AI takes the spotlight, infrastructure stocks shine
▼ + stars: | 2023-08-04 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Nvidia (NVDA.O) shares have surged almost 205% year to date, while Meta Platforms (META.O) has surged about 160% as investors anticipate the potential AI may unlock. That spending has led investors to search for stocks that will reap the benefits of the boost in spending in construction and engineering. "You have to look harder at these companies about what their end market really is, even though they're in a sector." Reporting by Chuck Mikolajczak; additional reporting by Lance Tupper, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kim Forrest, Morgan Stanley, hasn’t, Bryant VanCronkhite, VanCronkhite, Owens Corning, Forrest, Chuck Mikolajczak, Lance Tupper, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, Meta, Bokeh Capital Partners, Infrastructure Investment, Jobs, Allspring Global Investments, Reuters, Vulcan, Thomson Locations: New York City, U.S, Pittsburgh, Menomonee Falls , Wisconsin

☆ Roku shares set for biggest daily percentage gain in four years
▼ + stars: | 2023-07-28 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +1 min

NEW YORK, July 28 (Reuters) - Shares of video streaming company Roku Inc (ROKU.O) jumped 25% on Friday and were on track for their biggest daily percentage gain since May 2019 after the streaming device maker gave an upbeat quarterly revenue forecast. Roku's stock was last up 25.3% at $85.45 in afternoon trading and has more than doubled so far this year. Meta shares were up about 4% on Friday while Alphabet was up about 3%, helping to drive a roughly 1% gain in the S&P 500 index (.SPX). Several brokerages raised their price targets on Roku after the news, including D.A. Roku said it added 1.9 million "active accounts" from the previous quarter to now reach 73.5 million.

Persons: Roku's, Davidson, OTT, Roku, Caroline Valetkevitch, Lance Tupper, Susan Heavey Organizations: YORK, Roku Inc, Meta, D.A, Thomson

☆ Roku shares notch biggest daily percentage gain in four years
▼ + stars: | 2023-07-28 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +1 min

NEW YORK, July 28 (Reuters) - Shares of video streaming company Roku Inc (ROKU.O) jumped about 25% on Friday and were on track for their biggest daily percentage gain since May 2019 after the streaming device maker gave an upbeat quarterly revenue forecast. Roku's stock was last up 25.1% at $85.31 in midday trading and has more than doubled so far this year. Meta shares were up about 4% on Friday while Alphabet was up about 3%, helping to drive a roughly 1% gain in the S&P 500 index (.SPX). Several brokerages raised their price targets on Roku after the news, including D.A. Roku said it added 1.9 million "active accounts" from the previous quarter to now reach 73.5 million.

Persons: Davidson, OTT, Roku, Caroline Valetkevitch, Lance Tupper, Susan Heavey Organizations: YORK, Roku Inc, Meta, D.A, Thomson

REUTERS/Dado Ruvic/Illustration/File PhotoJuly 24 (Reuters) - Meme stocks have surged in the last few weeks as retail investors shun pricier stocks for cheaper speculative names, but some experts worry that this could choke the current rally in broader markets. At a time when the wider rally has made some stocks, especially in the tech space, too expensive, the return of meme stocks is offering retail investors a more affordable option to participate in 2023's market rebound and pocket big returns. Roundhill's Meme index (.MEME) hit a one-year high last week and was last up 60% for 2023 so far, dwarfing gains of more than 18% recorded by the benchmark S&P 500 (.SPX). Retail investors poured in $1.27 billion per day on average into U.S. equities in July, closing in on the all-time record of $1.5 billion a day in March, Vanda Research said. The meme index consists of 25 equal-weighted U.S.-listed stocks with a combination of elevated social media activity and high short interest.

Persons: Dado Ruvic, Thomas Hayes, Vanda, Dennis Dick, Bansari Mayur, Lance Tupper, Devika Organizations: REUTERS, NYSE, Microsoft, Great, Vanda Research, Triple D, AMC Entertainment, AMC, Thomson Locations: Great Hill, Bengaluru, New York

☆ Sirius XM shares pull back after 'wild' gains with short squeeze in focus
▼ + stars: | 2023-07-21 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - Shares in Sirius XM Holdings (SIRI.O) were down 10.5% on Friday, erasing some of their dramatic gains in the previous day's session with analysts attributing the volatility to a short squeeze, as well as a rebalance of the Nasdaq 100 (.NDX). U.S. satellite and online radio company, Sirius XM, which is majority owned by Liberty Media (FWONA.O), last traded at $6.99 after closing up 42% at $7.81 on Thursday for its biggest one-day percentage gain since March 2009. A short squeeze is when these investors are forced to quickly cover their bets to limit losses if a stock gains ground instead of falling. "However, the large number of shares held short along with a relatively small float provided fertile ground for a short squeeze as seen on July 20," wrote Macker who estimates a $7.50 fair value for the stock. Evercore analyst Vijay Jayant said the upcoming rebalance of the Nasdaq 100, of which Sirius is a member, was also a factor for the short squeeze as well as related options trading.

Persons: Neil Macker, Macker, Vijay Jayant, Jayant, David Joyce, Joyce, Sinéad Carew, Medha Singh, Lance Tupper, Sharon Singleton Organizations: Sirius XM Holdings, Nasdaq, Sirius XM, Liberty Media, Atlanta Braves, Sirius, Liberty's, Research Partners, Thomson

☆ US bank shares jump on interest income and deals optimism, but outlook mixed
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +5 min

The bank said it expects full year NII to be up about 8% at about $57 billion. The bank's full year NII outlook remains unchanged at 20% growth, Chief Financial Officer Dermot McDonogh told analysts. Overall, its profit slipped 18% in the second quarter as a fewer deals hurt investment banking revenues. Sluggish deals have been a sore spot across Wall Street with global investment banking activity plunging to $15.7 billion in the second quarter, the lowest since 2012, according to Dealogic. While investment banking and trading were also a drag on earnings for big banks on Friday, JPMorgan likewise said the bank was seeing “green shoots” in trading and investment banking.

Persons: Nacho, Morgan Stanley, BNY Mellon, Dermot McDonogh, Robert Pavlik, BNY, Morgan, JPMorgan Chase, Charles Schwab, Walt Bettinger, MS.N, Morgan Stanley's, Sharon Yeshaya, Goldman Sachs, Mehnaz Yasmin, Niket, Jaiveer, Manya Saini, Saeed Azhar, Tatiana Bautzer, Lance Tupper, Johann Cherian, Michelle Price, Megan Davies, Nick Zieminski Organizations: of America, REUTERS, WASHINGTON, . Bank of America, Bank of New York Mellon Corp, Federal Reserve, Bank of, Wall, PNC Financial Services, Dakota Wealth, JPMorgan, Citigroup, PNC, Silicon Valley Bank, Reuters, Street, Thomson Locations: New York, U.S, Big U.S, NII, KBW, Wells Fargo, Silicon, Bengaluru

☆ U.S. banks shares spark after interest income boost, but outlook mixed
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Nacho Doce/File PhotoWASHINGTON, July 18 (Reuters) - Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector. Bank of America's net interest income (NII), which measures the difference between what banks earn on loans and pay out on deposits, rose 14% to $14.2 billion in the second quarter, helping it to beat Wall Street estimates. The bank said it expects full year NII to be up about 8% at about $57 billion. That has forced some banks to offer consumers higher returns to deter them from moving their deposits to competitors. Overall, the bank's profit slipped 18% in the second quarter as Wall Street's deal-making drought stunted revenue from investment banking, although investors were cheered by executives' positive outlook for M&A.

Persons: Nacho, BNY Mellon, Robert Pavlik, BNY, JPMorgan Chase, Charles Schwab, Morgan Stanley, MS.N, BofA, Mehnaz Yasmin, Niket, Manya Saini, Saeed Azhar, Tatiana Bautzer, Lance Tupper, Johann Cherian, Michelle Price, Megan Davies, Nick Zieminski Organizations: of America, REUTERS, WASHINGTON, Bank of America, Bank of New York Mellon Corp, Federal Reserve, Bank of, Wall, PNC Financial Services, Dakota Wealth, " Bank of America, JPMorgan, Citigroup, PNC, Silicon Valley Bank, Investment, Thomson Locations: New York, U.S, Big U.S, NII, KBW, Wells Fargo, Silicon, Bengaluru

Analysts at Citigroup and JPMorgan both lowered their recommendations on AT&T shares in recent days. The shares hit a low of $13.68 in Monday's session, the lowest since March 1993. "We have not seen, nor have regulators identified, evidence that legacy lead-sheathed telecom cables are a leading cause of lead exposure or the cause of a public health issue,” a U.S. Telecoms spokesperson said in a statement. Shares of Verizon were also down on Monday, falling 5.5% to $32.14, a nearly 13-year low. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Rollins, Rollins, ”, Philip Cusick, Michael Hodel, Chibuike Oguh, Lance Tupper, Deepa Babington Organizations: YORK, T Inc, U.S, Verizon, Citigroup, JPMorgan, U.S ., Citi, U.S . Telecom, Morningstar, Thomson Locations: U.S, New York

☆ U.S. mortgage rates rise to 6.81%, highest level this year, Freddie Mac says
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 6 (Reuters) - U.S. 30-year mortgage rates rose to an average of 6.81% this week, the highest level of 2023, according to Freddie Mac's mortgage market survey. Mortgage rates have risen sharply in tandem with the Federal Reserve's aggressive monetary policy stance adopted since last year aimed at curbing inflation. The yield on the 10-year Treasury note , which acts as a benchmark for mortgage rates, jumped above 4% on Thursday after labor market data stoked interest rate hike concerns. These high rates combined with low inventory continue to price many potential homebuyers out of the market," Sam Khater, Freddie Mac's chief economist, said in a statement. Also on Thursday, the Mortgage Bankers Association (MBA) said its market composite index, which measures the volume of U.S. mortgage applications, fell 4.4% from the prior week amid the uptick in mortgage rates.

Persons: Freddie, Freddie Mac, Sam Khater, Freddie Mac's, Chibuike Oguh, Lance Tupper, Daniel Wallis Organizations: YORK, Federal, U.S, Federal Reserve, Mortgage Bankers Association, Thomson Locations: New York

SL Green Realty said it sold the building at 245 Park Avenue, which has 1.8 million-square-foot of office space, to a U.S. affiliate of Japanese real estate developer Mori Trust Co Ltd. Its sale represents a slight discount to the $2.21 billion that China's HNA Group paid to acquire the building in 2017 when New York City's commercial real estate market was at its peak. SL Green took control of 245 Park Avenue last year after lenders seized the building from HNA Group. Jesse Keenan, sustainable real estate professor at Tulane University, said the transaction is a speculative investment that suggests the deep downturn in the New York commercial real estate market may have bottomed out. SL Green Realty was the biggest gainer among listed REITs, leading its peers Vornado Realty Trust (VNO.N), Office Properties Income Trust (OPI.O), and Boston Properties Inc (BXP.N).

Persons: Kohn Pedersen Fox, Angelo Gordon, Jesse Keenan, Keenan, Vornado, Chibuike Oguh, Herbert Lash, Lisa Shumaker, Lance Tupper, Michelle Price Organizations: YORK, SL Green Realty Corp, Big, SL Green Realty, Mori Trust, Kohn Pedersen Fox Associates, Grand, Ares Management, Societe Generale, HNA, Green, HNA Group, Tulane University, New York, Green Realty, Vornado Realty, Income, Boston Properties Inc, Thomson Locations: New York City, U.S, Manhattan, New York

This spike bodes well for the IPO market, bankers say, because both new listings and secondary stock sales rely on strong demand from equity investors. "Historically, follow-on activity of this magnitude should lead to animal spirits in the IPO market," said Daniel Burton-Morgan, head of Americas syndicate for equity capital markets at Bank of America Corp (BAC.N). The IPO market has been in the doldrums since the start of 2022, when Russia's invasion of Ukraine and a spike in inflation fueled a bout of market volatility as investors fretted over U.S. interest rate hikes. The week of June 5 saw 19 follow-on and secondary stock sales in the United States, totaling proceeds of $6.6 billion, one of the highest weekly tallies since the end of 2021. IPO HOPEFULSMajor companies are waiting in the wings to launch their market debut come September, when the IPO window traditionally opens after a summer lull.

Persons: Daniel Burton, Morgan, Goldman Sachs, Electric's, Alex Wellins, Keith Townsend, Echo Wang, Lance Tupper, Greg Roumeliotis, Sam Holmes Organizations: YORK, LSEG, Intelligence, Bank of America Corp, Dealogic, Reuters Graphics, Federal, Goldman, Intel Corp, GE Healthcare Technologies, SoftBank Group Corp, chipmaker, Holdings, Blueshirt, King, Spalding, Thomson Locations: United States, Ukraine, Cava, New York

NEW YORK, June 20 (Reuters) - Savers Value Village (SVV.N) said on Tuesday it aims to raise up to nearly $320 million for an initial public offering that would value the U.S. thrift store operator at about $2.7 billion. Savers Value Village, owned by private equity firm Ares Management Corp (ARES.N), plans to sell up to 18.8 million shares at $15 to $17 apiece, regulatory filings showed. Based in Bellevue, Washington, Savers Value Village is one of the largest retailers of secondhand clothing, books, toys, shoes and household goods, with 317 stores in the United States and Canada. Revenue totaled $1.44 billion in 2022, up 19% from the prior year, while net income was flat at $84.7 million. Ares Management will retain an 88% stake in Savers Value Village after the IPO.

Persons: Morgan, Jefferies, Goldman Sachs, Chibuike Oguh, Lance Tupper, Richard Chang Organizations: YORK, Energy, Kodiak Gas Services, reinsurer Fidelis Insurance Holdings, Ares Management Corp, Revenue, Management, Canada's, Norges, Investment Management, J.P, UBS, underwriters, New York Stock Exchange, Thomson Locations: Cava, Bellevue , Washington, United States, Canada, Canada's Ontario, New York

NEW YORK, June 15 (Reuters) - Microsoft Corp (MSFT.O) shares are on course for a new record high close on Thursday as market optimism about the prospects of artificial intelligence (AI) has helped buoy the technology giant to a valuation of nearly $2.6 trillion. The stock, which has gained more than 45% in the year to date, reached its prior record close of $343.11 on Nov. 19 2021. J.P. Morgan analysts raised their price targets on Microsoft's stock on Thursday, citing AI driving demand for the company's products. Of the 53 analysts covering Microsoft, 44 recommended buying the shares and the median price target is $340, according to Refinitiv data. Reporting by Chibuike Oguh in New York; editing by Lance Tupper and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: J.P, Morgan, JP Morgan, Chibuike Oguh, Lance Tupper, Jonathan Oatis Organizations: YORK, Microsoft Corp, Microsoft, Google, Thomson Locations: OpenAI, San Francisco, New York

NEW YORK, June 15 (Reuters) - Microsoft Corp (MSFT.O) shares rose to a new record high close on Thursday as market optimism about the prospects of artificial intelligence (AI) has helped buoy the technology giant to a record market capitalization of $2.59 trillion. The stock, which has gained more than 45% in the year to date, reached its prior record close of $343.11 on Nov. 19, 2021. The stock's intraday record high was $349.67 on Nov. 22, 2021. In addition, Apple Inc (AAPL.O) shares also achieved a record high close of $186.01 on Thursday, while shares of graphics chipmaker Nvidia (NVDA.O) set a fresh intraday record of $432.89. Of the 53 analysts covering Microsoft, 44 recommended buying the shares and the median price target is $340, according to Refinitiv data.

Persons: Chibuike Oguh, Lance Tupper, Jonathan Oatis Organizations: YORK, Microsoft Corp, Microsoft, Google, Apple Inc, JPMorgan, Thomson Locations: OpenAI, San Francisco, New York

The growth in bookings is largely driven by pent-up demand from loyal customers returning to taking summer vacations and other leisure travel, said the analysts. JPMorgan upgraded Carnival shares to "overweight", while Bank of America raised its rating on the stock to "buy", and the analysts raised their price targets on all the three cruise companies. Carnival shares rose 14% to a more than 1-year high in early trading on Monday while Norwegian Cruise gained nearly 8%. The S&P 500 Hotels Resorts & Cruise Lines Sub-Industry Index was up 0.9% led by gains in cruise stocks. Commercial airline shares were also making gains on Monday amid falling crude oil prices and growth in demand for seats.

Persons: Chibuike Oguh, Granth Vanaik, Stephen Culp, Lance Tupper, David Gregorio Our Organizations: YORK, Carnival Corp, Cruise Line Holdings, JPMorgan, Bank of America Global Research, Carnival, Royal Caribbean Cruises, Bank of America, Norwegian Cruise, Royal, Hotels Resorts, Cruise, Southwest Airlines, Hawaiian Holdings, American Airlines, Thomson Locations: Royal Caribbean, New York

☆ Tesla short sellers down $6.08 bln in stock's 11-session winning streak -S3 Partners
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +1 min

June 9 (Reuters) - Traders who have sold Tesla Inc (TSLA.O) shares short have lost about $6.08 billion on a mark-to-market basis during the electric car maker's current winning streak, according to the latest data from S3 Partners. And Tesla is the largest short in the world, according the S3's head of predictive analytics Ihor Dusaniwsky, who says $22.43 billion worth of Tesla shares have been sold short. Traders have shorted 15.3 million new Tesla shares, worth $3.6 billion, in 2023. And in the past thirty days bearish bets expanded further, with 1.3 million more shares worth $303 million, sold short, representing a roughly 1.4% increase even as Tesla's stock price rose 39%, Dusaniwsky said. Tesla shares on Friday traded up 4.4% at $245.08 after earlier hitting its highest level since early October.

Persons: Tesla, Dusaniwsky, Sinéad Carew, Lance Tupper, Chris Reese, Chizu Organizations: Traders, Tesla Inc, S3 Partners, Investors, Thomson

[1/2] GitLab Inc logo and words 'Artificial Intelligence' are seen in this illustration taken June 6, 2023. REUTERS/Dado Ruvic/IllustrationNEW YORK, June 6 (Reuters) - Shares of GitLab Inc (GTLB.O) jumped more than 35% on Tuesday after the software development platform announced plans to launch a revenue-boosting artificial intelligence (AI)-powered product. The product is expected to be launched this year at $9 per month, GitLab said late Monday. GitLab said on Monday its first-quarter revenue jumped 45% to $126.9 million, beating the Refinitiv consensus estimate and the company's earlier forecasts. Eighteen analysts on average recommended buying GitLab shares, and set a median price target of $53.50, according to Refinitiv.

Persons: Dado Ruvic, GitLab, Koji Ikeda, Chibuike Oguh, Lance Tupper, Richard Chang Organizations: Intelligence, REUTERS, GitLab Inc, " Bank of America, Thomson Locations: New York

Most big bank stocks were trading lower in afternoon trading with the S&P 500 banking index (.SPXBK) down nearly 1% on Monday. U.S. regulators, led by the Federal Reserve, are also expected to propose this month increasing average bank capital requirements by as much as 20% a person familiar with the matter told Reuters. Regional bank stocks also logged broad declines on Monday, with the KBW Regional Banking Index (.KRX) shedding 2%. The impending international capital rules come amid a broader Fed review of lenders' capital requirements. "It's not shocking that you should expect to see some capital requirements being increased and a little more oversight is expected given what has happened with regional banks," Janasiewicz said.

Persons: Wells, Goldman, Morgan Stanley, Jack Janasiewicz, Janasiewicz, Chibuike Oguh, Manya Saini, Michelle Price, Lance Tupper, Aurora Ellis Organizations: YORK, JPMorgan Chase &, Wells Fargo & Co, Goldman Sachs Group Inc, Citigroup, Bank of America Corp, Treasury, Natixis Investment, U.S, Federal Reserve, Reuters, Street Journal, Basel Committee, KBW, PacWest Bancorp, Western Alliance, Comerica Inc, Thomson Locations: U.S, Basel, Regional, New York

☆ Semi shorts down $18 billion in mark-to-market losses in 2023, S3 Partners says
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, June 1 (Reuters) - Short sellers in U.S. shares related to the semiconductor industry are down $18.31 billion in mark-to-market losses for the year to date, including $7.2 billion in losses since last week's rally in Nvidia's stock (NVDA.O), according to financial data firm S3 Partners. The PHLX semiconductor sector index (.SOX) gained roughly 15% in May and hit an over one-year high. "The Semiconductor sectors have been an investing desert for short sellers," S3 Partners analysts wrote in the report this week. In addition, S3 cited Marvell Technology Inc (MRVL.O), Broadcom Inc (AVGO.O) and Ambarella Inc (AMBA.O) among stocks prone to a short squeeze. "We expect short covering in these stocks as short sellers look to trim their exposure and limit future mark-to-market losses if these stocks continue to rally," S3 analysts said.

Persons: Caroline Valetkevitch, Lance Tupper, Will Dunham Organizations: YORK, Partners, SOX, Semiconductor, Nvidia, Devices, Marvell Technology Inc, Broadcom Inc, Ambarella Inc, Thomson

☆ Nvidia rally: Retail investors stay out on growing slowdown worries
▼ + stars: | 2023-05-31 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

May 31 (Reuters) - The rally in the shares of Nvidia Corp (NVDA.O) that briefly propelled its market value to the trillion-dollar club saw little participation by retail traders, data showed, the latest sign they were turning cautious due to growing recession fears. Retail buying in Nvidia shares on an average nearly halved to $27.9 million in May compared to February, Vanda Research data showed, even as it remained the fourth most-traded stock by individual investors. After a record net buying in U.S. stocks the first quarter, retail investors have largely remained on the sidelines amid stresses in the banking sector and signs of an economic slowdown. The total value of the stock traded by retail investors surged to $2.5 billion last Thursday, but still net purchases remained marginal at $43 million, Vanda Research said. J.P.Morgan data showed Nvidia was the third most traded stock by retail investors but the buy and sell orders were nearly even, indicating lower retail interest than in the first quarter.

Persons: Lucas Mantle, Mantle, Tesla, Morgan, Vanda, Medha Singh, Vansh Agarwal, Lance Tupper, Arun Koyyur Organizations: Nvidia Corp, Vanda Research, Retail, Nvidia, U.S, Thomson Locations: Bengaluru

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