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Search resuls for: "CHARLES SCHWAB"


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☆ Jim Cramer reveals a way to screen news that may move a stock
  + stars: | 2023-04-19 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Jim Cramer reveals a way to screen news that may move a stock"Mad Money" host Jim Cramer takes a look at the performance of Charles Schwab, Netflix and Johnson & Johnson after earnings.
☆ Kleintop: The Fed's Beige Book may offer more color on economic conditions and lending than you'd get from earnings reports
  + stars: | 2023-04-19 | 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 EmailKleintop: The Fed's Beige Book may offer more color on economic conditions and lending than you'd get from earnings reportsJeff Kleintop of Charles Schwab discusses why the Fed's latest Beige Book report may be anything but bland, as it could offer insights into the impact of the bank turmoil in March.
☆ Bill Nygren says bigger is better in financials, names Schwab as one of his favorites
  + stars: | 2023-04-19 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Oakmark Funds' Bill Nygren said he favors bigger banks in the financial sector, and the top value investor broke down why he particularly likes Charles Schwab. "I think bigger has been better in financials for a long time," Nygren said on CNBC's " Squawk on the Street. " Nygren, who owns Wells Fargo, Capital One, Bank of America and Schwab, believes larger banks are more insulated from these balance sheet issues. SCHW YTD mountain Schwab Nygren said he is especially bullish on Schwab because it's the lowest cost provider for wealth management services. The portfolio manager also noted that Schwab insiders have been active buyers of the stock in the past few weeks.
☆ Citizens Financial misses profit forecast as it sets aside more rainy-day funds
  + stars: | 2023-04-19 | by ( Saeed Azhar Manya Saini | Saeed Azhar | Manya Saini | ) www.reuters.com   time to read: +2 min
April 19 (Reuters) - Citizens Financial Group Inc's (CFG.N) first-quarter profit missed Wall Street estimates as deposits declined and it set aside more rainy-day funds to cover for souring loans. The potential economic downturn prompted Citizens to set aside $168 million in case its customers default on their loans, compared with $3 million a year earlier. Citizens gradually set aside more money to cover potential losses on office loans, where it predicts weakness as remote working becomes more popular, while rising interest rates and a weaker economy put pressure on borrowers. Average deposits fell 2.6% to $174.4 billion in the three months ended March 31, compared with $179 billion at the end of the previous quarter. Citizens reported an underlying profit of $1.10 per share; analysts' on average had expected it to report $1.13 per share, according to Refinitiv IBES data.
☆ What should you do with your 401(k) when you switch jobs? Experts weigh in
  + stars: | 2023-04-18 | by ( Holly Johnson | ) edition.cnn.com   time to read: +11 min
Millions of people switch jobs every single year, and millions of 401(k) plans and other retirement accounts fall by the wayside as a result. We asked experts what most retirement savers should do if they have multiple old retirement accounts scattered around — here’s what they had to say. Keep track of your old 401(k) accountsTry and keep good records of your 401(k) accounts, including account numbers. Roll over your 401(k) accounts earlyRollover your old 401(k) accounts early to avoid confusion and potentially maximize returns. How to roll over an old 401(k) planYou can often roll over your 401(k) to an IRA online.
☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Microsoft, Netflix, Amazon, Sunrun & more
  + stars: | 2023-04-18 | by ( Michael Bloom | ) www.cnbc.com   time to read: +9 min
This is relevant to Apple as we estimate that Google pays Apple ~$20bn for being the default search engine across iOS devices." Goldman Sachs reiterates Microsoft as buy Goldman says it's staying bullish heading into Microsoft earnings next week. Deutsche Bank reiterates Disney as buy Deutsche Bank says it sees an "attractive setup" heading into earnings in early May. HSBC upgrades Nvidia to buy from reduce HSBC said in its double upgrade of Nvidia that it's "all about AI." Deutsche Bank reiterates Amazon as buy Deutsche says it's standing by its buy rating on the e-commerce giant ahead of earnings later this month.
☆ Premarket stocks: Apple is giving banks a run for their money
  + stars: | 2023-04-18 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
Apple’s savings account is managed through Apple products and users must have Apple’s credit card, simply called Apple Card, to qualify for one. “It’s very much a loyalty play because it’s a multi-level process: To get the Apple credit card you need the phone, and to get the savings account you need the credit card. The Apple savings account through Goldman is also insured by the Federal Deposit Insurance Corporation. And Apple’s savings account is hardly the best out there, either. UFB Direct offers a savings account with more than a 5% annual percentage yield.
☆ Jim Cramer is eyeing Charles Schwab after earnings
  + stars: | 2023-04-18 | by ( Jim Cramer | ) 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 EmailJim Cramer is eyeing Charles Schwab after earnings"Mad Money" host Jim Cramer discusses the day's market action as earnings season picks up steam.
☆ Goldman Sachs Falters Amid Strong Earnings From Big Banks
  + stars: | 2023-04-18 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
Its stock fell nearly 4 percent lower in premarket. State Street, M&T Bank and Charles Schwab on Monday reported nearly $60 billion in deposit outflows last quarter. State Street’s shares fell more than 9 percent on Monday, its worst single-day performance in three years. Banks are under pressure to raise interest rates to stem the deposit exodus. About $12 billion in deposits left State Street last quarter as customers sought higher rates elsewhere, according to Gerard Cassidy, a banking analyst at RBC Capital Markets.
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☆ Investor Stephanie Link on how to trade the 'silly' earnings season: Two stocks to buy on the dip
  + stars: | 2023-04-18 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
Hightower Advisors' chief investment strategist Stephanie Link advised investors do their homework this earnings season to find buying opportunities based on fundamentals — not based on the market reaction. "I often say that earnings season is silly season," Link said. See the PRO exclusive video above for Link's view on Bank of America, Johnson & Johnson and other recent earnings. At the same time, Johnson & Johnson shares dropped about 2.5% despite topping earnings and revenue expectations in the first quarter. "You have to do your homework when companies report earnings," Link said.
☆ Factbox: Deposit flight from U.S. regional banks raise questions about funding costs
  + stars: | 2023-04-17 | 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) - Regional banks in the United States on Monday reported deposit outflows between 3% and 11% from the prior quarter after customers sought the refuge of bigger banks in the aftermath of one of the worst banking crises. The closure of two regional banks in March shook investor confidence and set off fears over deposit safety after small banks shed $177.5 billion in deposits in March from the previous month, according to data from the U.S. Federal Reserve. These lenders will be compelled to lift deposit rates to lure customers, analysts worry, raising costs of one of the cheapest sources of funding. Compiled by Mehnaz Yasmin in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
☆ Wall St set for muted open as investors focus on earnings, Fed cues
  + stars: | 2023-04-17 | by ( Sruthi Shankar Ankika Biswas | Sruthi Shankar | Ankika Biswas | ) www.reuters.com   time to read: +3 min
Wall Street closed lower on Friday after mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. "Regional bank earnings will come in very slightly positive, while bigger banks will probably post surprisingly positive results." Other major U.S. banks including Goldman Sachs Group Inc (GS.N), Bank of America Corp (BAC.N) and Morgan Stanley (MS.N) will report through the week. ET, Dow e-minis were up 35 points, or 0.10%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 3.75 points, or 0.03%. Prometheus Biosciences Inc (RXDX.O) rallied 69.9% after Merck & Co (MRK.N) said it will buy the biotech company for about $10.8 billion.
☆ Charles Schwab beats profit estimates on higher rates; deposits drop
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +2 min
April 17 (Reuters) - Charles Schwab Corp (SCHW.N) beat first-quarter profit estimates as rate hikes by the Federal Reserve boosted the financial services provider's interest income, even as it struggled with a decline in deposits from the U.S. banking crisis last month. They shed 37% in the first quarter after Charles Schwab was caught up in the banking turmoil triggered by the collapse of two regional U.S. banks last month. Deposits shrank at Charles Schwab as customers moved capital to chase greater returns from other asset classes. The firm's deposits fell to $325.7 million in the first quarter from $366.7 million in the prior quarter. Total net revenue rose 10% to $5.12 billion from $4.67 billion a year earlier.
☆ State Street, Schwab See Deposits Drop
  + stars: | 2023-04-17 | by ( Justin Baer | ) www.wsj.com   time to read: 1 min
Charles Schwab Corp. and State Street Corp. both reported a decline in customer deposits, the latest sign that rising interest rates continue to weigh on banks’ balance sheets. At Schwab, the brokerage giant, deposits fell 11% to $326 billion from the previous quarter and were down 30% from a year earlier. State Street, one of the largest custody banks, said Monday that deposits totaled about $224 billion at the end of the first quarter, down 5% from December and 11% from a year ago.
☆ Morning Bid: Markets hope China chooses to surprise on the upside
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +3 min
April 17 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a careful start to the week in Asia with stocks and bonds little changed and the dollar holding most of Friday's bounce. The caution is understandable given the week holds updates on Chinese economic growth and global PMIs, along with the Fed's Beige book and at least eight Fed speakers. Analysts are generally optimistic for the China data given the stunning strength of recent trade figures. Goldman Sachs (GS.N) and Morgan Stanley (MS.N) had both been expected to report a drop in profit, though that might not be inevitable given last Friday's upside surprises on earnings.
☆ U.S. regional banks hit by deposit flight as clients seek higher returns
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A view of the Charles Schwab office location in Manhattan, New York, U.S., November 15, 2021. Deposits at State Street Corp (STT.N) and M&T Bank Corp (MTB.N) fell 3% each, while those at Charles Schwab Corp (SCHW.N) shrank 11% from the prior quarter. Both Schwab and M&T Bank rode a surge in interest income to beat profit expectations, but custodian bank State Street fell short after an outflow of client funds hurt its fees. Its Chief Executive Officer Walter Bettinger addressed commentary about portfolios of debt securities held by banks, including Schwab, which are disclosed as unrealized losses in their earnings. M&T Bank shares were up nearly 6% at $123.70 while State Street stock plunged 11% to $70.98, dragging down peers Northern Trust Corp (NTRS.O) and Bank of New York Mellon Corp (BK.N).
☆ Stocks making the biggest moves premarket: Charles Schwab, Dell, Alphabet, HP Inc. & more
  + stars: | 2023-04-17 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Charles Schwab — Shares of Charles Schwab gained 3% on better-than-expected earnings. The company posted a profit of 93 cents per share, beating a Refinitiv forecast of 90 cents per share. M&T Bank — The regional bank stock jumped 3% after the company posted its latest quarterly figures. Lumentum — The optical fiber manufacturer rose slightly after JPMorgan upgraded the stock to overweight from neutral. Ollie's Bargain Outlet — The discount retail rose 3% in premarket trading after JPMorgan upgraded the stock to neutral from overweight.
☆ Stocks making the biggest moves midday: Alphabet, Charles Schwab, State Street, Moderna and more
  + stars: | 2023-04-17 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
State Street , M&T Bank – Shares of State Street dropped 11% after the company posted disappointing earnings and revenue. State Street posted earnings of $1.52 per share on revenue of $3.10 billion, while analysts called for per-share earnings of $1.64 and revenue of $3.12 billion, according to Refinitiv. Meanwhile, M&T Bank shares popped 5% higher after the bank reported beats on the top and bottom lines. Charles Schwab — Shares of Charles Schwab rose about 2.5% after the brokerage firm posted better-than-expected earnings on Monday. Schwab posted adjusted earnings of 93 cents per share, beating analysts' forecast of 90 cents per share, according to Refinitiv.
☆ Why the stock market's running of the bulls might be about to kick off
  + stars: | 2023-04-17 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
Optimists rejoice — Wall Street strategists just pinpointed a handful of trends, indicators, and gauges that all suggest 2023 could see a new running of the bulls. The S&P 500 has already seen a sturdy 8% gain to start 2023, but year-end gains could be even bigger if one of BofA's bullish surprises pan out. "The S&P 500 has now spent more than 25 weeks above its 200-week moving average," Lee said. "Since 1950, there are zero instances of the S&P 500 making a new low once it has recovered above the 200-week moving average and spent at least 15 weeks there." US stock futures rise early Monday, as investors brace for a crucial week of earnings reports to weigh recession risks.
☆ Morning Bid: Banks calm the horses
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +5 min
As U.S. banking giants calm the horses, global investors are now concentrated on world growth and earnings signals more than interest rate rises for direction - with an assumption the latter are near an end anyway. Somewhat relieved analysts marginally brightened their dim outlook for first-quarter U.S. results compared with a week ago. Futures markets now see a more than 80% chance the Fed will execute one final quarter point rate rise next month - reversing it by September. That rate rise would bring the real Fed policy rate - adjusted by headline consumer price inflation - into positive territory for the first time in three years. The dollar extended Friday's rebound as the May rate rise pricing hardened.
☆ Charles Schwab Stock Moves Higher as Profit Rises, Deposits Continue to Fall
  + stars: | 2023-04-17 | by ( ) www.wsj.com   time to read: 1 min
Charles Schwab kicked off another bank-earnings week, posting higher first-quarter profit on gains in interest revenue and money-management fees. The brokerage giant said Monday that its net income rose 14% to $1.6 billion, from $1.4 billion a year ago. Revenue climbed 10% from a year ago to $5.12 billion.
☆ Charles Schwab Stock Move Higher as Profit Rises, Deposits Continue to Fall
  + stars: | 2023-04-17 | by ( ) www.wsj.com   time to read: 1 min
Charles Schwab kicked off another bank-earnings week, posting higher first-quarter profit on gains in interest revenue and money-management fees. The brokerage giant said Monday that its net income rose 14% to $1.6 billion, from $1.4 billion a year ago. Revenue climbed 10% from a year ago to $5.12 billion.
☆ Stock Market Today: What to Watch
  + stars: | 2023-04-17 | by ( ) www.wsj.com   time to read: 1 min
Index futures are nudging higher as the week gets under way. Earnings season continues after Friday's rush of bank earnings, with Charles Schwab and State Street due to post results before the market opens Monday. What we're reading:
☆ Futures subdued as investors eye bank earnings, Fed cues
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +3 min
SummarySummary Companies Futures up: Dow 0.07%, S&P 0.10%, Nasdaq 0.01%April 17 (Reuters) - U.S. stock index futures were largely flat on Monday as investors awaited more bank earnings and views from Federal Reserve policymakers that could shape expectations around when the central bank will pause its monetary policy tightening. Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. U.S. central bank officials including New York Fed President John Williams and Cleveland Fed President Loretta Mester are scheduled to speak later this week. ET (1230 GMT) is expected to show business conditions in New York state improved in April after slumping in the previous month. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 4.25 points, or 0.10%, and Nasdaq 100 e-minis were up 1 point, or 0.01%.
☆ CNBC Daily Open: Don’t be fooled by big banks’ earnings
  + stars: | 2023-04-17 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +3 min
On Friday three big U.S. banks reported better-than-expected first-quarter earnings. Investors weren't misled by big banks' bonanza of incredible earnings. Even though higher rates fueled big banks' earnings, they also expose weaknesses in balance sheets, as Dimon himself warned. In other words, what's good for big banks' income is not necessarily good for the economy. Despite the excitement over the big banks' earnings, then, investors kept a cool head, causing the three major indexes to fall.
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