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First Horizon and TD said in a statement they had mutually decided to end the deal because there was no clarity on when they would get regulatory approvals. TD will pay $200 million to First Horizon, in addition to a $25 million fee reimbursement. 2 lender came under pressure from some investors to scrap the purchase after the U.S. regional banking crisis. TD agreed to buy First Horizon in February last year to expand its presence in the United States. Average deposits at First Horizon fell 4% to $62.2 billion in the first quarter, compared to the end of last year.

☆ The best checking accounts for getting cash abroad in 2023
▼ + stars: | 2023-05-03 | by ( Liz Hund | ) edition.cnn.com time to read: +9 min

Many of the most popular checking accounts charge foreign transaction and ATM fees, which can add up quickly. Best checking accounts for traveling abroad in 2023Charles Schwab High Yield Investor Checking Account: Best overall for travelers with no foreign transaction fees and reimbursed ATM surcharges. Schwab Bank Investor Checking Account: Best overall for travelersSchwab has one of the best checking accounts for international travelers. This makes the Schwab Bank Investor Checking Account our top checking account pick for most travelers. This is significantly higher than the industry average, and is one of the best checking account APY’s we’ve seen.

☆ Here's what to expect from today's Federal Reserve announcement
▼ + stars: | 2023-05-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. None of those figures are satisfactory for Fed officials. "Most Fed officials don't seem comfortable that the rate hike cycle is over," Citigroup economist Andrew Hollenhorst said in a note. The next Fed policy meeting comes in six weeks, on June 13-14, and April's consumer price report is due in one week, on May 10. This Fed meeting is crucial."

☆ This environment means you want to be really focused on quality: Charles Schwab's Liz Ann Sonders
▼ + stars: | 2023-05-03 | 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 EmailThis environment means you want to be really focused on quality: Charles Schwab's Liz Ann SondersLiz Ann Sonders, Charles Schwab chief investment strategist, on positioning in the market after stocks become volatile following the latest Fed meeting.

☆ What Happens if You Die Without a Will? It Depends
▼ + stars: | 2023-05-02 | by ( Ashlea Ebeling | ) www.wsj.com time to read: 1 min

Despite potentially devastating consequences for their heirs, millions of Americans still haven’t written a will. While the total real wealth of households has tripled over the last three decades according to the Congressional Budget Office, 54% of Americans told Gallup they didn’t have a will in 2021. Even the wealthy put off estate planning—one in five Americans with investible assets of $1 million or more don’t have a will, according to a recent Charles Schwab survey.

☆ The Confusing Fallout of Dying Without a Will
▼ + stars: | 2023-05-02 | by ( Ashlea Ebeling | ) www.wsj.com time to read: 1 min

Despite potentially devastating consequences for their heirs, millions of Americans still haven’t written a will. While the total real wealth of households has tripled over the past three decades, according to the Congressional Budget Office, 54% of Americans told Gallup they didn’t have a will in 2021. Even the wealthy put off estate planning—one in five Americans with investible assets of $1 million or more don’t have a will, according to a recent Charles Schwab survey.

NEW YORK, April 28 (Reuters) - Bearish options traders are ramping up bets on further declines in the beaten-down shares of First Republic Bank (FRC.N), though strategists say they could run into trouble cashing in their wagers if the bank goes into receivership. Profitable put options are typically automatically exercised by selling underlying shares - either already owned by the investors or newly purchased - at a profit. But brokers might restrict share sales when a stock is halted, keeping investors from reaping gains. Some traders found this out the hard way when they ran into trouble cashing in bearish options bets on failed lenders SVB Financial Group and Signature Bank. The Options Clearing Corp and brokerages Charles Schwab, Robinhood, Interactive Brokers and Fidelity did not immediately respond to a request for comment.

CNBC's annual Stock Draft kicked off Thursday on "Power Lunch," with candidates opting for a wide range of stocks from AI to consumer plays. Nvidia WWE wrestler Charlotte Flair bet on artificial intelligence with her first pick: Nvidia. Amazon Olympic swimmer Erica Sullivan picked Amazon, saying she likes the e-commerce giant's service and uses it regularly. General Electric Sullivan chose General Electric for her second pick. General Electric shares are higher by more than 49% in 2023.

☆ Morningstar's chief U.S. market strategist shares his outlook for the economy and ways to play the market turbulence ahead
▼ + stars: | 2023-04-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

But even in a turbulent environment, there are value opportunities for investors who look carefully, according to Dave Sekera, Morningstar's chief U.S. market strategist. "We think the stock market is undervalued," Sekera told CNBC during an interview at the Morningstar Investment Conference in Chicago. "However, I'd say at this point, the easy returns have already been made thus far this year, and I do see a rough road ahead for the next couple of quarters for the stock market in general." For regional bank stocks, Morningstar expects earnings to slowly decline through 2023. Today, Morningstar views many of those names, in areas such as energy, healthcare and consumer defensives, as fully valued.

☆ Factbox: US banks hit by deposit flight as clients seek higher returns
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

[1/2] The company logo for financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. REUTERS/Brendan McDermid/File PhotoApril 17 (Reuters) - The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in "too-big-to-fail" institutions or money market funds for higher yields. First Republic Bank (FRC.N) said on Monday deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet. Total deposits at Wall Street's biggest lenders:Overview of deposits at other prominent financial firms:Source: Company statementsCompiled by Mehnaz Yasmin in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Three Stock Lunch: Chipotle, Charles Schwab and Peloton
▼ + stars: | 2023-04-26 | by ( ) 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 EmailThree Stock Lunch: Chipotle, Charles Schwab and PelotonDelano Saporu, New Street Advisors Group, joins 'Power Lunch' to discuss Saporu's investing take on three stocks.

☆ CNBC Daily Open: Big Tech surpasses expectations
▼ + stars: | 2023-04-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. First Republic lost almost half its value in a single trading day, dragging down other regional banks. However, Wednesday could look like a very different trading day in the United States. Subscribe here to get this report sent directly to your inbox each morning before markets open.

First Republic reported a more than $100 billion plunge in deposits in the quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008. Regional bank PacWest Bancorp (PACW.O) fell 9%, Western Alliance Bancorporation (WAL.N) 6%, Zions Bancorp (ZION.O) 5% and brokerage Charles Schwab Corp (SCHW.N) was down 4%. First Republic said on Monday it was "pursuing strategic options" to quickly strengthen the bank, without providing details. Options include an asset sale of up to $100 billion, a source familiar with the situation said on Tuesday. "So it's tough to even describe it as good asset and bad asset," Chiaverini said.

☆ Corporate insiders are loading up on their own shares following banking turmoil - and that's a positive sign for the stock market
▼ + stars: | 2023-04-24 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

More than 1,000 executives and directors at over 600 companies bought their stock in March. That's the most in nearly a year, according to Washington Service data compiled by the Wall Street Journal. Insiders at financial firms accounted for more than half of the stock purchases. Insiders at financial firms accounted for more than half of the stock purchases, the most for the sector in at least two years, according to Washington Service, an insider-trading data analytics provider. Separate data from investment-research firm VerityData showed that last month's insider stock purchases were concentrated at regional lenders like PacWest and Fifth Third.

☆ Charles Schwab CEO: The cash sorting trajectory is now moderating
▼ + stars: | 2023-04-21 | 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 EmailCharles Schwab CEO: The cash sorting trajectory is now moderatingCharles Schwab CEO Walter Bettinger joins 'Squawk on the Street' to discuss the bank's deposit flows, Bettinger's explanation of cash sorting, and more.

☆ Here are Friday's biggest analyst calls: Amazon, Tesla, CVS, Microsoft, XPO, AT&T, Spotify & more
▼ + stars: | 2023-04-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Alphabet as buy Bank of America says it's bullish heading into Alphabet earnings next week. JPMorgan reiterates Amazon as a best idea JPMorgan says it's bullish heading into the e-commerce giant's earnings report next week. "We continue to see streaming music & audio as an attractive growth market and remain OW WMG and SPOT." Stephens initiates SentinelOne as overweight Stephens initiated the cyber security company with an overweight and says it has "best-in-class growth." JPMorgan reiterates Charles Schwab as overweight JPMorgan says Charles Schwab could be worth more if it were to "de-bank."

☆ JPMorgan thinks this drastic move by Schwab could lead to a higher share price over the long run
▼ + stars: | 2023-04-21 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan said a move away from banking services could boost long term-growth for Charles Schwab stock. The firm reiterated an overweight rating on the stock on Friday, with a price target of $85 per share. But JP Morgan thinks that Schwab could benefit from de-banking, or moving away from banking services altogether. Worthington added that while the process of de-banking would put pressure on earnings, the move could lead to Schwab stock trading at a higher multiple. "At 20x, a de-banked 2024 projection of $3.20, we arrive at a value of $64 per share, noticeably higher than the current stock price," he said.

The Ukraine war made energy and other commodities even more expensive than they were during the pandemic, prompting a global cost-of-living crisis. What has that done to their market share as competitors may be pricing lower and gaining share?" Tineke Frikkee, a fund manager at Unilever and Reckitt investor Waverton Asset Management, said. "Price rises should gradually decelerate as input costs do the same," Frikkee said, adding that companies should instead be investing in product innovation. "It will be a delicate balance, with consumer disposable income stretched in many key markets for these firms," Jack Martin, a fund manager at Unilever investor Oberon Investments, said.

☆ Charles Schwab is in great shape: AllianceBernstein's Tierney
▼ + stars: | 2023-04-20 | 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 EmailCharles Schwab is in great shape: AllianceBernstein's TierneyJim Tierney, Alliance Bernstein CIO of U.S. concentrated growth, joins 'Power Lunch' to discuss why CDW's warning was important, how he would treat Charles Schwab's stock, and more.

While Charles Schwab shares are up about 20% from their March low, boutique equity research firm Redburn isn't so sure the recovery is warranted. Analyst Charles Bendit downgraded Charles Schwab to sell from neutral on Thursday. Schwab shares are off some 38% from this year's high reached in early January. SCHW YTD mountain Charles Schwab stock To be sure, several prominent investors, including Oakmark Funds' Bill Nygren, are among many who have opted to buy the dip in Schwab. "Potential re-regulation of midsize banks in the wake of the regional banking crisis might impact Schwab," Bendit said.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, GE, Home Depot, Elanco, SeaWorld & more
▼ + stars: | 2023-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Tesla as buy Goldman says Tesla's earnings report on Wednesday was a "negative" but that it's standing by the stock. Bank of America reiterates Amazon as buy Bank of America says it's standing by Amazon heading into earnings next week. Bank of America upgrades WestRock to buy from neutral Bank of America said in its upgrade of the packaging solutions company that it sees "transformation benefits." Bank of America downgrades NetApp to underperform from neutral Bank of America said in its downgrade of the hybrid cloud data services company that it sees weaker demand. Morgan Stanley initiates SeaWorld as overweight Morgan Stanley said in its initiation of SeaWorld that it sees an attractive risk/reward.

☆ Short bets against TD Bank surge 45% in two weeks to hit $6.1 billion amid investor skepticism toward its planned First Horizon takeover
▼ + stars: | 2023-04-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Short equity bets against Toronto-Dominion surged to $6.1 billion on Wednesday, up 45% from two weeks earlier. That comes as the Canada-based bank faces investor skepticism over its planned takeover of First Horizon Bank. TD became the most-shorted bank in the world in early April as it faces a slew of headwinds. It comes as traders question the bank's planned takeover of US regional bank First Horizon, according to the publication. "I think that short interest was elevated by arbitrage investors betting on the (First Horizon) deal ... suggesting that the market believes that the deal is at risk of closing," James Shanahan, an analyst at Edward Jones told the outlet.

☆ Western Alliance stock surges as results allay deposit fears
▼ + stars: | 2023-04-19 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

April 19 (Reuters) - Shares of Western Alliance Bancorp (WAL.N) surged 24% on Wednesday after the U.S. regional bank posted stronger-than-expected earnings and said its deposits had stabilized, helping allay fears that last month's banking crisis could envelop more lenders. Wedbush Securities raised its rating on Western Alliance to "outperform" from "neutral" and added the bank to its "Best ideas list", among stocks including Apple (AAPL.O) and Microsoft (MSFT.O). Western Alliance's results soothed concerns about the stability of regional banks following worst U.S. banking crisis since 2008. The rally in Western Alliance following its report stood out among several regional banks that have posted quarterly results this week. Western Alliance's stock remains down over 40% from early March, before Silicon Valley Bank's collapse.

☆ Western Alliance's stock surges as results allay deposit fears
▼ + stars: | 2023-04-19 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

"We are seeing positive news from a regional bank that was in the crosshairs of the whole crisis. Western Alliance's results soothed concerns about the stability of regional banks following worst U.S. banking crisis since 2008. The rally in Western Alliance following its report stands out among several regional banks that have posted their quarterly results this week. Citizens Financial Group Inc (CFG.N) was trading near flat after reporting a quarterly profit early on Wednesday that missed Wall Street's estimates. Western Alliance's stock remains down over 40% from early March, before Silicon Valley Bank's implosion.

☆ Stocks advance, US 10-year yield slips as earnings roll in
▼ + stars: | 2023-04-19 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Reuters GraphicsGoldman peer Bank of America (BAC.N) veered between gains and losses in choppy trading after its earnings beat estimates, and was last up 0.63%. "Earnings season so far has actually been better than expected by far on both earnings and revenues," said Randy Frederick, managing director, trading and derivatives at Charles Schwab in Austin, Texas. The pan-European STOXX 600 index (.STOXX) rose 0.38% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.24%. The yield on 10-year Treasury notes was down 1.3 basis points to 3.578% while the two-year U.S. Treasury yield, which typically moves in step with rate expectations, was up 2.8 basis points at 4.216%. U.S. crude settled up 0.04% at $80.86 per barrel and Brent was at $84.77, up 0.01% on the day.

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