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More than 1 million people attended protests across Germany over the weekend, showing their opposition to a right-wing political party that most recently discussed the deportation of large numbers of foreign-born residents. The demonstrations against the Alternative for Germany, or AfD, party, have now continued into a second week nationwide. What Is the Alternative for Germany Party? The anti-immigrant, far-right party, founded in 2013 and now led by the German politician Alice Weidel, has been gaining polling ground. What Does Recent German Polling Show?
Persons: , Martin Sellner, Olaf Scholz, Alice Weidel Organizations: People, Bundestag, Reuters, Deutsche Welle, Christian Democratic Union, Germany Party, News Locations: Germany, Munich, Berlin, Europe, France, Potsdam –, Austrian, German, Nazi, Germany's, Thuringia, Saxony, Brandenburg, U.S
Now, a new route opening up fast, direct access between two European countries will spin passengers back more than a century to the times of the Habsburg empire. It is thought that this is the first train from Milan to Ljubljana since the empire was dissolved in 1918. It’s also picking up the route of a night train from Budapest to Venice, which passed through Ljubljana, but finished in 2011. Since 2018, there has been a regional train from Trieste to Ljubljana, but train staff of the two operators switch at the border at Villa Opicina station. “Trieste and Ljubljana were first connected by train in 1857, when both cities were part of the Habsburg Empire.
Persons: we’ll, Stanley Tucci, Francesca Volpi, Slovenia’s, Habsburg, It’s, , It'll, , Giovanni Vale, Markus Mainka, Trenitalia Organizations: CNN, intel, Slovenian Railways, Bloomberg, Getty, Spanish Riding, Austro, Croatian Railways, South Railway Company, Deutsche Bahn Locations: Habsburg, Italy, Slovenia, Slovenian, Milano Centrale, Milan, Ljubljana, Venice, Trieste, Postojna, Skocjan, Budapest, Villa, Rijeka, “ Trieste, Vienna, Zagreb, Belgrade, Balkans, Switzerland, Germany, Austria, Munich
Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. President Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines . The decision immediately sparked questions of whether an Alaska-Hawaiian combination would suffer a similar fate in an antitrust lawsuit. The Justice Department didn't immediately respond to a request for comment about whether it plans to challenge Alaska and Hawaiian's proposed deal.
Persons: Joe Biden's, William Young, Michael Linenberg, Department didn't, Hawaiian's, Herbert Hovenkamp Organizations: Hawaiian Airlines, San Francisco International Airport, Department, Hawaiian Airlines . U.S, Justice Department, JetBlue Airways, Spirit Airlines, Deutsche Bank, JetBlue, University of Pennsylvania's Carey Law School, Spirit Locations: Alaska, San Francisco , California, United States, Hawaiian Airlines ., Hawaii
Stock buybacks struggled to recover last year after taking a hit in 2022, even as corporate earnings began to rebound. Investors view buybacks as an indication that a company’s leadership believes its own shares are undervalued and are confident about its future performance. Buybacks also tend to push up share prices due to the added demand. ONEOK, a natural gas company, on Wednesday unveiled a $2 billion share repurchase program. The week’s total for initial claims landed far below economists’ projections for 205,000 initial claims, according to FactSet estimates.
Persons: Stock buybacks, Buybacks, buybacks, , , Howard Silverblatt, Dow, Sundar Pichai, Brian Fung, Pichai, ” Pichai, Read, , Alicia Wallace Organizations: CNN Business, Bell, New York CNN, Deutsche Bank, Wednesday, Deutsche, Federal Deposit Insurance Corporation, Dow Jones, Google, CNN, of Labor Locations: New York, Lennar, buybacks
But today, Germany is staring at a surging far right – and the country’s mainstream politicians and democratic citizens, still by far the lion’s share of the population, are understandably rattled. Since then it has veered steadily to the far right, where its members tout barely veiled racism and Islamophobia. But studies show that time and again the accommodation of radical right positions benefits the hard right – and not its imitators. Moreover, democrats of all stripes should expose the far right’s populist arguments for what they are: exaggerations, falsehoods and demagoguery. Germany’s ascendent far right shows that all of Europe – and beyond, including the US – could be at a tipping point.
Persons: Paul Hockenos, , Paul Hockenos Hayyan, Adolf Hitler’s, Reich, Alice Weidel, , Ulrich Perrey, Holstein Daniel Günther, Vladimir Putin’s, Austria –, Germany’s Organizations: CNN, Berlin CNN, Parliament, Research, Brandeis University Locations: Berlin, New Berlin, Hungary, Italy, Finland, Germany, Schwerin, Schleswig, Vladimir Putin’s Russia, Ukraine, Sweden, Austria, Europe
Technology stocks had a banner year in 2023, but Deutsche Bank thinks there could be even more upside ahead. Although these gains may seem hard to match, Deutsche Bank analyst Brad Zelnick and his team expect software stocks to outperform in the new year. In particular, the analyst listed buy-rated Salesforce and Oracle as his two top picks for 2024. Oracle stock has climbed 3.1% in 2024 , and shares popped 29% last year. ORCL YTD mountain ORCL YTD chart "We see the multiple recovering and the stock steadily making its way out of the penalty box in 2024," the analyst wrote.
Persons: Brad Zelnick, Zelnick, prem Organizations: Deutsche Bank, Software, Oracle Locations: Thursday's
The dollar is 'between two forces,' Deutsche Bank says
  + stars: | 2024-01-19 | 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 EmailThe dollar is 'between two forces,' Deutsche Bank saysStefanie Holtze-Jen, Deutsche Bank Private Bank's chief investment officer for Asia-Pacific, discusses how interest rate cuts from the U.S. Federal Reserve and the "two hot wars" might affect the currency.
Persons: Stefanie Holtze, Jen Organizations: Deutsche Bank, Deutsche Bank Private, U.S . Federal Reserve Locations: Asia, Pacific
The S & P 500 just notched a record high to declare its bull market status, but according to one money manager who helps oversee more than $1 trillion, there are a few names investors could focus on for the next leg of the cycle. "We're concerned about U.S. consumers, who are burdened by record levels of credit card debt at elevated interest rates." .SPX 1Y mountain S & P 500 The S & P 500 , which hit an all-time intraday peak on Friday, roared back at the end of 2023, notching a 24% gain for the year. Infrastructure stocks Malik believes that global infrastructure companies benefit from inelastic demand for the necessary services they provide, and are thus insulated from most recession risks. "Both dividend growth and global infrastructure stocks have historically weathered down markets relatively well," Malik said.
Persons: Saira Malik, Malik, that's, Linde Organizations: Investors, Fed, CNBC Pro, Motorola Solutions, Deutsche Bank, Motorola, CMS Energy Locations: Jackson, Michigan
Goldman Sachs upgrades Fiverr to buy from neutral Goldman said the Israeli online marketplace is well positioned for AI. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on Amazon shares. Bank of America downgrades Celsius to neutral from buy Bank of America says it sees "uncertainty to sales momentum" for the energy drink company. Deutsche Bank names Starbucks a top pick Deutsche says it sees an improved same-store sales environment for Starbucks in 2024. Bank of America upgrades Teekay Tankers to buy from neutral Bank of America upgraded the tanker stock due to "rising rate upside."
Persons: Stifel, McKhann, thoughtfully, Goldman, Goldman Sachs, FVRR, Raymond James, TXN, Oppenheimer, Morgan Stanley, ASML, Citi downgrades Blackstone, Carlyle, it's bullish, headwinds, Evercore, Price, Apple Evercore, Janney, Jefferies, Hertz Organizations: Broadcom, Semiconductor, Enterprise, Nvidia, Bank of America, Amazon, North, Holdings, Netflix, Deutsche Bank, Starbucks, Deutsche, SSS, UBS, Texas, Barclays, Nokia, Ericsson, Citi downgrades, Citi, BMO, Marvel, " Bank of America, United Rentals, of America, IBM, Enterprise IT, Apple, Shoals Technologies, Inc, HSBC, Discover, Motorola Solutions, HERTZ Locations: North America, 4Q, 2026E, CY24
Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | ReutersDeutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the future of domestic rival Commerzbank . The state still has a 15% stake in Commerzbank, but Reuters reported earlier this week that Finance Minister Christian Lindner is open to disposing of it. The merger of Germany's two biggest banks would create a combined entity with around $2 trillion in assets, although Deutsche Bank's low valuation could complicate any such move. The bank trades at around 12 euros per share, a fraction of its book value, and a significant portion of assets would need to be marked down.
Persons: Denis Balibouse, Christian Lindner Organizations: Deutsche Bank, Reuters Deutsche Bank CEO, Commerzbank, Reuters, Deutsche, CNBC, Economic Locations: Germany, China, Commerzbank, Davos, Switzerland, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Deutsche Bank CEO Christian SewingTalking to CNBC in Davos, Switzerland, Deutsche Bank CEO Christian Sewing discusses M&A rumors, the banking industry more broadly and the outlook for interest rates.
Organizations: Deutsche Bank CEO, CNBC, Deutsche Bank CEO Christian Locations: Davos, Switzerland
Bank of America upgrades Apple to buy from neutral Bank of America said AI and Vision Pro should drive upside for Apple. Bank of America reiterates Microsoft as buy Bank of America raised its price target on Microsoft to $450 per share from $430. Guggenheim reiterates Target as buy Guggenheim said Target is well positioned in 2024. Bank of America names Harley Davidson a top pick Bank of America said the motorcycle company is well positioned for 2024. " Bank of America reiterates ServiceNow as a top pick Bank of America said the stock remains a top idea for 2024.
Persons: KBW downgrades Charles Schwab, KBW, Mizuho, Robinhood, ., DA Davidson, Baird, Rivian, Wolfe, it's, Wells, it's bullish, Bernstein, Guggenheim, Piper Sandler, Tempur Sealy, TPX, CFRA, Harley Davidson, Oppenheimer, Morgan Stanley, Hertz, ServiceNow, Argus, Salesforce, Mike Blake Organizations: UBS, Netflix, Bank of America, Apple, of America, Nvidia, Semiconductors, Barclays, Red Rock Resorts, Vegas Locals, Microsoft, Guggenheim, Citi, JetBlue, Spirit, Costco, Piper, Palo Alto Networks, Paramount, Nasdaq, Hertz, Blackrock, Amazon, Deutsche Bank, Deutsche, JPMorgan Locations: repurchases, Palo, Palo Alto, Southeast China, 1H24, Los Angeles
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank's Sewing: Diversification of business will help overcome normalization challengesChristian Sewing, CEO at Deutsche Bank, discusses his outlook for M&A in the banking sector, and explains the bank's global strategy.
Organizations: Deutsche Bank
Wall Street's outlook on Fed rate cuts is setting the stage for a "lose-lose situation," says Deutsche Bank macroeconomic strategist Henry Allen. Indeed, the last four times we've seen rate cuts that fast, it's been because of the most recent four U.S. recessions," he wrote. To be sure, rapid rate cuts without a preceding recession isn't an impossible scenario, but that doesn't mean it's likely either, Allen noted. Paul Volcker's chairmanship of the Fed in the 1980s, for example, saw steep rate cuts, although that followed a period of extremely restrictive monetary policy. "[It's] hard to see how both rate markets and risk markets can both continue to thrive as they have recently," Stanley said.
Persons: Henry Allen, Allen, Paul Volcker's, Allen isn't, Stephen Stanley, Stanley, Stocks, Deutsche Bank's Allen Organizations: Deutsche Bank, Markets, Federal, Traders, Santander U.S, Deutsche Locations: U.S, Vietnam
Deutsche Bank is remaining bullish on aerial mobility company Archer Aviation in 2024. Joby Aviation is developing a similar electric flying vehicle that will also operate as an air taxi vehicle. The stock has been volatile since Deutsche first called it a top pick in November , which maintained the same $12 per share price target. ACHR mountain 2023-11-01 Archer Aviation stock since November. Roughly 39 million shares of Archer stock are being sold short, according to data from FactSet, or more than 21% of the floating shares.
Persons: Archer, Edison Yu, Yu, Archer's, Joby Organizations: Deutsche Bank, Archer Aviation, NASDAQ, Joby Aviation, Federal Aviation Administration, U.S . Air Force, Deutsche Locations: Archer
Here are Wednesday's biggest calls on Wall Street: Citi reiterates Apple as buy Citi said it's standing by its top pick status on Apple shares. UBS downgrades Ford to neutral from buy UBS said it sees limited upside to estimates. TD Cowen downgrades Fisker to market perform from outperform TD said it sees too many growing pains for Fisker. KeyBanc initiates Rocket Lab as overweight Key said it sees upside for the rocket satellite company. "We initiate coverage on Rocket Lab USA (NASDAQ: RKLB) with an Overweight rating and $8 price target, reflecting ~50% upside."
Persons: Jefferies, Tesla, Elon, Ford, TD Cowen downgrades Fisker, JPMorgan downgrades Morgan Stanley, Morgan Stanley, it's, Christine Barone, Goldman Sachs, Goldman, Davidson downgrades Teladoc, Key, Evercore, Wolfe, Piper Sandler, TGT, BURL, SolarEdge, Mizuho, William Blair, it's bullish Organizations: Citi, Apple, Huawei, UBS, JPMorgan, Bank of America, Bros, Rocket Lab, Lithia, Dealers, Susquehanna, JetBlue Spirit, Deutsche Bank, Deutsche, EV, CART, Target, Barclays, Boeing, Airbus, Mizuho, Amazon, " Bank of America, Netflix Locations: China, 2Q24, 3Q24, Burlington
BERLIN (AP) — Heavy snowfalls and freezing rain across Germany Wednesday led to the cancellation of hundreds of flights and trains, crashes on icy roads, and school closures. At Frankfurt airport, Germany's biggest, more than 500 flights were canceled, while in Munich over 250 arrivals and departures were canceled. In western Germany, Saarbruecken airport closed for the day, as Duesseldorf and Cologne/Bonn airports were also affected by delays and cancelations. The freezing rain across western and southern Germany also led to countless crashes on icy roads in the early morning hours of Wednesday. As a precaution, many schools and kindergartens in the country closed for the day, and some companies offered their employees the option of working from home.
Organizations: BERLIN, Deutsche Bahn, ICE, Associated Press Locations: Germany, Frankfurt, Munich, Saarbruecken, Duesseldorf, Cologne, Bonn
Spirit Airlines , JetBlue Airways — The airline stocks slid after a federal judge blocked JetBlue Airways' proposed $3.8 billion acquisition of Spirit Airlines. JetBlue shares fell nearly 1%, while Spirit Airlines dropped more than 20%. SolarEdge Technologies — The solar stock fell 5% following a downgrade by Barclays to underweight from equal weight. Twist Bioscience — Shares climbed 3.2% on the heels of an upgrade to buy from neutral at Goldman Sachs. Ford — Shares shed 2.3% on the back of a UBS downgrade to neutral from buy.
Persons: Sinclair —, Sinclair, Goldman Sachs, Davidson, William Blair, Nutanix, Wolfe, Uber, Tesla, Morgan Stanley —, Ted Pick, Visteon, Morgan Stanley, Morgan, , Sarah Min, Yun Li, Jesse Pound, Michelle Fox Organizations: Spirit Airlines, JetBlue Airways —, JetBlue Airways, Bank of America Securities, Susquehanna Financial, JetBlue, LSEG, Diamond Sports Group, Diamond, Technologies, Barclays, Goldman, , Broadcom, VMware, Deutsche Bank, Ford —, UBS, JPMorgan, Polaris, Mattel Locations: Rivian, China
A sale to JetBlue represented a lifeline for Spirit, which faces $1.1 billion in debt maturing next year. But a federal judge in Boston scuttled that plan by ruling Tuesday that JetBlue’s $3.8 billion proposal to buy Spirit violates antitrust law. But Frontier has its own challenges and is in no position to renew merger discussions with Spirit now, Baker said. Like Spirit, JetBlue has not had a profitable year since 2019, before the pandemic. Investors are also trying to gauge what the ruling against the JetBlue-Spirit deal means for Alaska Airlines' pending proposal to buy Hawaiian Airlines.
Persons: Airlines hasn’t, haven’t, William Young's, , Helane Becker, Cowen, , Jamie Baker wasn’t, ” Baker, Baker, Judge Young, Young, Robin Hayes –, Biden, hasn't, Michael Linenberg Organizations: Airlines, JetBlue, Justice Department, Bank of America, Pratt & Whitney, Airbus, Frontier Airlines, , Investors, Alaska Airlines, Hawaiian Airlines, Deutsche Bank, Spirit, American Airlines Locations: Boston, Miramar , Florida, Alaska
Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.
Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, , Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China
Prepare for volatility in the semiconductor industry after an exuberant 2023 that saw prices surge and left many companies with lofty valuations. "Higher valuations in my experience lead to higher investor expectations and those higher investor expectations typically lead to higher volatility," said Michael Brenner of FBB Capital Partners . Computer chip stocks surged in 2023, largely due to enthusiasm surrounding the use of artificial intelligence and the need for advanced semiconductors. Bracing for volatility Semiconductor companies have a lot to prove in 2024 after wowing investors last year. KeyBanc Capital Markets' John Vinh said in a recent note to clients that auto industry semiconductor demand in the new year will benefit Analog Devices , NXP Semiconductors and On Semiconductor .
Persons: Michael Brenner, Capital's Paul Schatz, Sylvia Jablonski, Robert Pavlik, Brenner, FBB, Jensen Huang, Nvidia aren't, Schatz, Jablonski, Intel's, Ross Seymore, Seymore, Brenner isn't, John Vinh, bode, Vinh, Mizuho's Vijay Rakesh, — CNBC's Michael Bloom Organizations: FBB Capital Partners, iShares Semiconductor, Dakota Wealth, Nvidia, Broadcom, Micron Technology, Devices, Deutsche, Marvell Technology, Taiwan Semiconductor, Infineon, EV, KeyBanc, NXP Semiconductors, Semiconductor, Qualcomm, Lam Research
Fourth-quarter earnings season is kicking off with a mix of good and bad news. Without those six stocks, the rest of the S & P is expected to see earnings fall 6%. There's a lot riding on earnings in 2024 For the S & P 500 to increase in 2024, earnings need to expand. But with the S & P 500 up over 20% last year, the forward earnings multiple is roughly 19.6, in the very pricey range. We need higher revenues The biggest risk to higher earnings is lower revenue growth.
Persons: Savita Subramanian, General Mills, Mobileye, Nick Raich, Adam Crisafulli, BofA's Subramanian, Deutsche, Binky, Sam Stovall Organizations: Pfizer, Merck, Moderna, Bank of America, Nvidia, Microsoft, Apple, Nike, FedEx, General, Darden, Constellation Brands, Technology, Samsung Electronics, Vital, Deutsche Bank's Locations: Wayfair, Conagra
Now, many are warning that the far-right Alternative for Germany (AfD) party is capitalizing on the chaos for its own political gain. Sean Gallup/Getty ImagesA tractor displays a banner with the logo of the far-right Alternative for Germany (AfD) party that reads: "Germany needs new elections!" “Supporting democratic protests like this against traffic light madness will continue to be a concern of our hearts,” one post reads. The traffic light will soon be standing all alone.”The “traffic light” is a reference to Scholz’s coalition government – an allusion to the colors of the Social Democratic Party (SPD), the Free Democratic Party (FDP) and the Greens it is comprised of. Far-right coup fantasiesGerman ministers and a domestic intelligence chief have warned how right-wing extremists could try to exploit the farmers’ protests.
Persons: Chancellor Olaf Scholz’s, Kirill Kudryavtsev, Sean Gallup, Martin, ” Steven, Björn Höcke, Scholz, Johannes Kiess, ” Kiess, Jens Schlueter, Kiess, Robert Habeck, ” “, ” Habeck, Kay Nietfeld, Stephan Kramer, , ” Kramer, , Nadine Schmidt, Claudia Otto, Sophie Tanno Organizations: Germany CNN — Farmers, Farmers, Getty, Social Democratic Party, SPD, Free Democratic Party, Greens, Germany’s Office, Homeland, Deutsche, University of Leipzig, CNN, , Ukraine, Tractors, CDU, CSU, Christian Democratic Union, Christian Social Locations: Berlin, Germany, Frankfurt, AFP, Brandenburg, Hamburg, Cologne, Bremen, Nuremberg, Munich, Rügen, Pomerania, Thuringia, Berlin ., Dresden, Saxony, Deutsche Bahn, Cottbus, Torgau, London
"I'm not sure what the number would have been," had it been correct, Trump told the judge on Thursday of the apartment's worth. "The person in the room right now hates Trump, and uses Trump to get elected," he said, apparently referring again to James. "They found nothing and now she comes in and she says, 'We want to make the $250 million fine $370 million. "You have your own agenda," Trump told the judge. Advertisement"Mr. Kise," the judge told Trump's lawyer.
Persons: , Donald Trump, I've, Letitia James, Arthur Engoron, Christopher Kise, Kise, Trump, Engoron, minimus, I'm, James, we've, Trump's Organizations: Service, Trump Organization, Business, New York, Trump, Deutsche Bank Locations: New York, Manhattan, Trump, Chicago, Miami, Washington , DC
Wall Street made some big calls on Club stocks to kick off the first week of 2024. Apple Wall Street's take: The new year began with a bang in Big Tech and not in a good way. Apple stock received a rare downgrade from Barclays on Tuesday. We always say about Apple stock "own it, don't trade it." Microsoft, Salesforce Finally, Microsoft and Salesforce were listed as Bank of America's top picks on Friday.
Persons: Here's, IP15, , Salesforce, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Apple, Big Tech, Barclays, Tuesday, Nvidia, Data Center, Club, Honeywell, Mizuho Securities, Costco Wholesale Deutsche Bank, Costco, Microsoft, Bank, America's, Dow Jones, Dow, CNBC, Traders, New York Stock Exchange, Getty Locations: India, NVDA
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