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☆ MSCI’s Adani cut signals fat tail risks for India
▼ + stars: | 2023-02-10 | by ( Shritama Bose | ) www.reuters.com time to read: +5 min

Hindenburg founder Nathan Anderson sees MSCI's move as a validation of his group’s findings of “stock parking” by Adani. The Securities and Exchange Board of India, headed by former banker Madhabi Puri Buch, acknowledged unusual price movements this month, but without naming the Adani group. But the longer the controversy drags on, there will be a fat tail risk for Adani and all his stakeholders. CONTEXT NEWSGlobal index provider MSCI on Feb. 9 cut its determined free floats for four Adani companies. It reduced those of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC, and said any resulting changes will be implemented at the close of Feb. 28.

☆ Credit Suisse shares look set to continue sell-off
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Feb 10 (Reuters) - Credit Suisse (CSGN.S) shares looked set to continue their slide on Friday after the bank's reported its latest heavy losses on Thursday and the Swiss regulator said it was watching the situation 'very closely." The bank's shares were indicated 1.1% lower in premarket activity on the Swiss Market Index on Friday. Credit Suisse's stock fell 14.7% on Thursday to 2.77 francs, valuing the lender at 11.1 billion Swiss francs after results which were described by one shareholder as "catastrophic". A string of banks downgraded their outlook for Credit Suisse's shares on Friday. Morgan Stanley, Barclays, and RBS all cut their target prices, contributing to the negative sentiment around Credit Suisse.

With a majority of S & P 500 companies having posted their quarterly results, investors' focus will turn toward inflation and the consumer price index reading in the upcoming week. The three major indexes are on pace to end the week down, with the S & P 500 poised to post its worst performance since December. Sharp declines for Alphabet , which is off by more than 9% this week, dragged the tech-heavy index. January's consumer price index With the latest Powell speech in the books, investors are now looking ahead to the consumer price index for insight into the pace of inflation. "Retail sales and CPI is really driven by the consumer, and a lot of eyes are on how the consumer doing," Bruno said.

The Adani Group has denied any wrongdoing. "Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "This determination has triggered a free float review of the Adani Group securities." Adani Group did not respond to a Reuters request for comment. They accuse his government of giving undue favours to the Adani Group, a charge denied by the government and the company.

"Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float ... This determination has triggered a free float review of the Adani Group securities," it added. Adani group did not respond to a Reuters request for comment. Adani Transmission (ADAI.NS), Adani Total Gas (ADAG.NS) and Adani Power (ADAN.NS) were each down 5%, while Adani Ports and Special Economic Zone (APSE.NS) were down nearly 2.9%.

☆ Biotech stocks that could surge more than 35% include one name targeting treatments for schizophrenia
▼ + stars: | 2023-02-09 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Still, the outlook for biotech stocks could improve now , with innovation in new drugs and more merger and acquisition activity driving investor interest. Recently, Wall Street has been zoning in on developments in treatments for Alzheimer's diseases, drugs for weight loss and treatments using gene editing. CNBC Pro screened for biotech stocks that are part of the iShares Biotechnology ETF , searching for names with huge upside from current prices. In January, Piper Sandler initiated research coverage of Karuna with an overweight rating, saying it's "blazing a new trail in Schizophrenia" treatments. The stock was named another top 2023 pick by Piper Sandler, which said Legend has a "best-in-class" treatment for adults with relapsed multiple myeloma, a segment "with demand far outpacing supply."

☆ MSCI to announce changes to free float status of some Adani securities
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: +1 min

Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float after market participants raised concerns about the eligibility of the Indian conglomerate's companies for some of its indexes. Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due to be announced on Thursday as part of its regular review for February, it added. The Adani Group has denied the allegations, saying the short seller's narrative of stock manipulation has "no basis" and stems from an ignorance of Indian law. MSCI defines the free float of a security as the proportion of shares outstanding that is considered available for purchase in public equity markets by international investor. Adani Group did not immediately respond to a Reuters request for comment.

☆ Here are Credit Suisse's favorite stocks for February
▼ + stars: | 2023-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Credit Suisse refreshed its "top of the crop" stock picks for February, as the market tries to build on its strong start to the year. Despite the uncertain market backdrop, Credit Suisse highlighted several stocks it thinks can outperform going forward. Credit Suisse has a price target of $27 per share, implying upside of 18.2%. Credit Suisse also sees strong gains for software stock ServiceNow, with the bank's price target of $575 implying upside of more than 20%. Credit Suisse set its target price for shares at $830, implying a 15.2% upside from Tuesday's close.

☆ MSCI reviews Adani Group securities amid sell-off crisis
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

"This determination has triggered a free float review of the Adani Group securities." Adani Group did not immediately respond to a Reuters request for comment. Adani Group has rejected the criticism and denied any wrongdoing. MSCI said the Adani review would be carried out as part of its regular February review. The index provider said in late January it was seeking feedback from market participants as the sell-off crisis engulfed Adani.

☆ Factbox: Tech firms, Wall Street titans lead job cuts in corporate America
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +8 min

REUTERS/Lucy Nicholson/File PhotoFeb 8 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn. Here are some of the job cuts by major American companies announced in recent weeks. TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp (IBM.N):The software and consulting firm said it will lay off 3,900 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ Global hedge funds gain in January, but not as much as stock market, HFR says
▼ + stars: | 2023-02-07 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 7 (Reuters) - Global hedge funds posted a solid 2.8% gain in January, but they missed out on the stellar rally that broader stock market indexes posted to start the year because the funds were mostly positioned for a continued bear market, data provider HFR said on Tuesday. Last year, hedge funds posted their worst performance since 2018, mainly dragged down by equities as portfolio managers struggled to place bets amid market turmoil. Still, the main Wall Street indexes far outperformed hedge funds. Data from Goldman Sachs' prime brokerage showed that last month hedge funds massively abandoned their bets against stocks as they became too expensive amid a rally. Relative value hedge funds, which trade price disparities, rose 1.95%, while macro hedge funds gained 0.26%, mainly dragged down by algorithm-driven and commodities strategies.

☆ Investor Sarat Sethi said he is buying into this 'unloved' pharma stock
▼ + stars: | 2023-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to get back into British pharmaceutical company GSK , according to investor Sarat Sethi. He has been adding to the stock that was known as GlaxoSmithKline since buying it a couple months ago, Sethi told the panel on CNBC's " Halftime Report " on Monday. GSK shares have notably underperformed this year. While the S & P 500 has rallied more than 7% since the start of 2023, GSK shares are just slightly higher for the year, up 0.6%. Hightower's Stephanie Link approved of the buy, saying that GSK has a "great story."

☆ S&P 500 forms bullish ‘golden cross’ pattern. Here’s what typically happens next
▼ + stars: | 2023-02-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

On Thursday, the broad market index formed what Wall Street calls a "golden cross," which happens when a 50-day moving average crosses through and above the 200-day moving average. Traders and analysts use the golden cross as an indicator that a market trend is about to turn more positive. There have now been 37 golden crosses on the S & P 500 since 1950, according to Carson Group chief market strategist Ryan Detrick. For some analysts, it's only considered a golden cross if the 200-day is sloping upward. But golden crosses tend to shine when associated with recessions, according to Bank of America chart analyst Stephen Suttmeier.

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

☆ Annuity sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates
▼ + stars: | 2023-02-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"This was a unique year," Todd Giesing, assistant vice president of Limra Annuity Research, said of the factors that combined to drive record annuity sales. Advisors often recommend some lesser-used annuity types when building financial plans: a single-premium immediate annuity or a deferred-income annuity. Payouts from immediate annuities start right away, while those from deferred-income annuities start later, perhaps in a retiree's 70s or 80s. Single-premium immediate annuities and deferred-income annuities are relatively simple to understand compared with other categories, advisors said. The buyer hands over a lump sum to the insurer, which then guarantees a certain monthly payment to the buyer starting now (an immediate annuity) or later (a deferred-income annuity).

☆ Too far, too fast: These stocks are set to decline after hot 2023 starts
▼ + stars: | 2023-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

However, analysts believe some stocks are getting ahead of themselves and are set to fall. We used FactSet data to screen for S & P 500 stocks whose consensus price targets indicate an expected decline. Here are 20 stocks analysts predict will have the biggest drops this year. Macquarie downgraded Paramount shares to underperform from neutral the day after Paramount announced its integration plans. Carnival Cruise Line 's stock has popped more than 40% in 2023 as of Thursday morning, but analysts anticipate it will drop 8.1%.

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☆ Forget ChatGPT - an AI-driven investment fund powered by IBM's Watson supercomputer is quietly beating the market by nearly 100%
▼ + stars: | 2023-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

While the language bot ChatGPT has gone viral, a Watson-powered ETF is making nearly double the returns of the broader market. The AI Powered Equity ETF is up 10.4% in 2023, whereas the Vanguard Total Stock Market Index is up 5.67%. Issued by ETF Managers Group in partnership with the fintech firm Equbot, the fund leans on IBM's Watson supercomputer to balance its portfolio. That 114-holding portfolio is up 10.4% so far in 2023, while the Vanguard Total Stock Market ETF is up 5% over the same stretch. Chris Natividad, the chief investment officer of Equbot, said the Watson-powered fund can look beyond standard market data and cull information from tweets and earnings calls, according to ETF.com.

☆ Bank of America asked its analysts for their top 2023 picks—Here are the stocks
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Stocks are off to a hot start for the year, and Bank of America analysts think some buy-rated names in their coverage universe can carry that momentum through the rest of 2023. Still, Bank of America asked its analysts to break down their top picks for 2023. "Upside risks are if the commercial aerospace and business aviation jet recoveries are better than expected, earnings could fare better than our projections," Bank of America noted. Bank of America has a price target of $120 per share, implying upside of about 20% from Monday's close. Domino's Pizza The world's largest pizza delivery company was chosen by Bank of America due to its promising growth potential.

Morgan Stanley economists forecast its stock market will be the world’s third largest before the end of 2030. For those who passively track stock market indexes, the controversy engulfing Adani, briefly the world’s third richest man, may act as a deterrent from an already expensive market. The newish chair of India’s securities regulator, Madhabi Puri Buch, has already wielded a stick at credit rating agencies to instil better market discipline. In the meantime, the turmoil is a reminder to investors of the danger of investing blindly in emerging markets. Stocks look increasingly expensive compared to emerging marketsReuters GraphicsFollow @ugalani and @ShritamaBose on TwitterloadingloadingCONTEXT NEWSShares of the Adani group companies have lost $65 billion since Jan. 25 after U.S. short-seller Hindenburg Research published a research note on the group.

☆ MSCI seeks feedback on Adani Group over Hindenburg report
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Jan 28 (Reuters) - Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Adani Group did not immediately respond to Reuters request for comment. It has dismissed the Hindenburg report as baseless and said it was considering whether to take legal action against the New York-based firm. India's capital markets regulator was studying the Hindenburg report as it may help its own probe into offshore fund holdings of Adani Group, Reuters reported on Friday. Billionaire U.S. investor Bill Ackman on Thursday described the Hindenburg report "highly credible and extremely well researched".

☆ Suze Orman is staying conservative with her investments, shunning tech and buying T-bills
▼ + stars: | 2023-01-28 | by ( Bree Doyle | ) www.cnbc.com time to read: +1 min

"Starting quite a while ago now, I got totally out of tech," Orman, the SecureSave founder, recently told CNBC's " Fast Money ." Yet, she wouldn't cash out of another winning sector: Energy. "I am still a big believer in energy stocks," said Orman. XLE 1Y mountain Energy stocks, 1-year Admittedly too-early on the call, she recommended investors pile into energy in March of 2020. As of Friday's close, the Energy Select Sector SPDR Fund, which tracks the energy sector, is up four percent so far this year and 66% over the past three years.

☆ India is a true bright spot in the midst of a global downturn, top execs and policymakers say
▼ + stars: | 2023-01-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

But India does shine out among the world's biggest economies, with Europe hovering on the brink of potential recession and U.S. growth slowing. "It's for the whole digital India, and creating a digital society in India," Ekholm told CNBC. watch nowIndia, he continued, "will very shortly have the best digital infrastructure outside of China," driven by telecoms juggernauts Bharti Airtel and Jio, he added. Strong tailwinds"We are very optimistic and very positive on India," the chief executive of Tata Consultancy Services, Rajesh Gopinathan, told CNBC. As Anish Shah, chief executive of Mahindra Group, told CNBC: "India will get impacted.

☆ Do you have a 'Humpty Dumpty portfolio'? It may be costing you thousands
▼ + stars: | 2023-01-27 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

When Rick Ferri, a financial advisor and founder of Ferri Investment Solutions, recently saw a new client's portfolio, it conjured a familiar image: a comic by retirement planner Aaron Brask featuring Humpty Dumpty. In it, an intact egg sitting on the wall is labeled as a total market portfolio with an expense ratio of 0.04%. Here's how to know if you're in a "Humpty Dumpty portfolio" and why it's essential to keep your investing costs as low as possible. What is a 'Humpty Dumpty portfolio'? Why you don't want a 'Humpty Dumpty portfolio'

☆ Investors should ignore this rally and play defense with these ETFs, BlackRock strategist says
▼ + stars: | 2023-01-25 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Investors should avoid being lured back into riskier stocks and funds by this January rally, according to a strategist at BlackRock. Wall Street is off to a solid start in 2023, with all three major averages positive in January. But the rally petered out and the broad market index fell back to a new bear market bottom, below 3,600, in October. .SPX mountain 2022-06-01 The stock market enjoyed a short-lived rally last summer. If Chaudhuri is right, investors may be well served to stick with some of the strategies that worked last year.

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