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But the odds of the hikes are much less than Powell is projecting so tech stocks are benefiting," said Hayes. Apple (AAPL.O) inched 0.3% higher after closing at a record high on Thursday and edging closer to a $3 trillion market capitalization. ET, to gauge the outlook for interest rates. Micron Technology (MU.O) rose 3.3% after the chipmaker beat estimates for third-quarter results, powered by demand for its memory chips. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Berkshire Hathaway, JPMorgan Chase, Goldman Sachs, Wells, Charles Schwab, Thomas Hayes, Jerome Powell, Powell, Hayes, Raphael Bostic, Sruthi Shankar, Johann M, Shinjini Organizations: Micron, Occidental Petroleum, Dow, Bank of America, JPMorgan, Bank of New York Mellon, Great, Apple, Nvidia, Atlanta Fed, Reuters, Dow e, Nasdaq, Micron Technology, Berkshire Hathaway Inc, Intelligence, Thomson Locations: Berkshire, Great Hill, Bengaluru

[1/2] A Lordstown Motors sign is seen outside the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File PhotoNEW YORK, June 27 (Reuters) - U.S. electric truck manufacturer Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan's Foxconn (2354.TW). Lordstown contends Foxconn is balking at purchasing additional shares of its stock as promised and misled the EV maker about collaborating on vehicle development plans. Lordstown accused Foxconn in that regulatory filing of engaging in a "pattern of bad faith" that caused "material and irreparable harm" to the company. GM agreed to sell the plant to a newly-formed entity called Lordstown Motors founded by the former top executive at an electric truck maker called Workhorse Group.

Persons: Rebecca Cook, Taiwan's Foxconn, Thomas Hayes, Tesla, Lordstown, Foxconn, Edward Hightower, Donald Trump, Mary Barra, Nikola, Stephen Burns, Burns, Elon Musk's Tesla, Mike Spector, Joseph White, Dietrich Knauth, Ben Blanchard, Sarah Wu, Chavi Mehta, Nick Zieminski, Dhanya Ann Thoppil, David Evans Organizations: REUTERS, Lordstown Motors, Foxconn, Hai Precision Industry, General, Reuters, Endurance, EV, Biden, Detroit, GM, Lordstown, U.S . Justice Department, Ford Motor, Stellantis, Thomson Locations: Lordstown, Lordstown , Ohio, U.S, Ohio, Delaware, Foxconn, United States, Northeast Ohio, New York, Detroit, Taipei, Bengaluru

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

The S&P 500 (.SPX) index closed flat but remained near its highest level since August 2022, just above 4,200 points. The S&P 500 and the Nasdaq were still set for monthly gains in May. Over the weekend, U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy agreed to temporarily suspend the debt ceiling and cap some federal spending. But I firmly believe a debt ceiling agreement will be approved before the June 5 drop dead date." Only four of the S&P 500's 11 sectors were higher, while declining stocks outweighed advancing shares on both the S&P 500 and Nasdaq.

Persons: Joe Biden, Kevin McCarthy, McCarthy, Sam Stovall, Anthony Saglimbene, Thomas Hayes, FEDWATCH, Elon Musk, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: Dow Jones, Nasdaq, Republican, Republicans, Nvidia Corp, Reuters Graphics Reuters, Digital, Federal, Semiconductor, Nvidia, Great, Capital, Labor, Thomson Locations: New York, Troy , Michigan, Philadelphia, China's, Beijing, Bengaluru

ET (1900 GMT), to discuss the debt ceiling bill. "The market is cautiously pricing in that the deal has been done," said Thomas Hayes, chairman at Great Hill Capital LLC. Nvidia Corp (NVDA.O) jumped 4.8% in premarket trading after it said on Monday it was building Israel's most powerful AI supercomputer to meet soaring customer demand for AI applications. Other chipmakers including Advanced Micro Devices Inc (AMD.O), Marvell Technology Inc (MRVL.O) and Intel Corp (INTC.O) added about 3% each. May consumer confidence data is due shortly after markets open, while the Labor Department's closely watched nonfarm payrolls data for May is due on Friday.

☆ Japan stocks are on fire this year. Here are 3 reasons why the rally could have 'staying power'
▼ + stars: | 2023-05-27 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Since then, Japanese equities have rallied. Even so, Strategas Securities' Chris Verrone has remained optimistic on Japanese equities, saying this week that the rally is not yet overbought. Meanwhile, JPMorgan chief market strategist Marko Kolanovic said in a note, also on Tuesday, that the rally in Japan still has "staying power." For international investors, those remarks signaled that Japanese companies may be more transparent with shareholders in the future. Investors can also take a company-specific approach, according to Diamond Hill's Mohanraj, who favors Japanese companies that boast differentiated products.

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc's (CSCO.O) shares fell 4.3% in premarket trading after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 1.7% after the retailer raised its annual sales and profit targets, befitting from inflation-wary consumers trading down to cheaper groceries. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were up 15 points, or 0.11%. Bath & Body Works Inc (BBWI.N) gained 13% after the beauty and skincare firm raised its annual profit forecast. Japan's Prime Minister Fumio Kishida said he welcomed and expected more investment from global chipmakers in the country.

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc (CSCO.O) slipped 1.7% after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 2.8% after the retailer raised its annual sales and profit targets, benefiting from inflation-wary consumers trading down to cheaper groceries. And you got a little follow through from the optimism around getting a (debt ceiling) deal done," said Thomas Hayes, chairman at Great Hill Capital LLC. Bath & Body Works Inc (BBWI.N) gained 8.7% after the beauty and skincare firm raised its annual profit forecast. Declining issues outnumbered advancers for a 2.30-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.

[1/2] Co-Founders of VICE Shane Smith (L) and Suroosh Alvi (R) pose as they arrive for the 20th Annual Webby Awards in Manhattan, New York, U.S., May 16, 2016. REUTERS/Mike SegarMay 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. Vice listed both assets and liabilities in the range of $500 million to $1 billion. Vice was among a group of fast-rising digital media ventures that once had rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder Shane Smith, who built his media empire from a single Canadian magazine.

On the other end, regional banks' shares stretched gains from a rebound on Friday, with PacWest Bancorp (PACW.O) jumping 19.9% after the lender sharply cut its quarterly dividend to boost capital. Shares of such banks tumbled for much of last week on worries tied to the collapse of First Republic Bank. "We're in an information vacuum right now, waiting for the next inflation data. Warren Buffett's Berkshire Hathaway Inc's Class B shares rose 1.2% after posting a $35.5 billion first-quarter profit, reflecting gains from stocks such as Apple. The S&P index recorded seven new 52-week highs and two new lows, while the Nasdaq recorded 31 new highs and 23 new lows.

May 5 (Reuters) - U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Lucid Group (LCID.O) kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive (RIVN.O), meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. Fisker Inc (FSR.N) and Nikola (NKLA.O), both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially.

☆ LeBron James' SpringHill is circling Complex Networks as owner BuzzFeed struggles to regroup after layoffs and a stock price plunge
▼ + stars: | 2023-05-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

LeBron James and Maverick Carter's SpringHill has had conversations about buying BuzzFeed's Complex Networks, sources said. SpringHill Co., LeBron James and Maverick Carter's media and entertainment venture, has explored buying troubled BuzzFeed's Complex Networks, two sources familiar with the situation said. In addition to Complex Networks, BuzzFeed has HuffPost; food vertical Tasty, which includes licensed cooking products; as well as video series like travel-themed "Bring Me." Complex built long-form, host-driven video series like "Hot Ones" and "Sneaker Shopping" into high-profile brands in their own right. SpringHill Co. is a rollup including SpringHill Entertainment, which Carter founded with LeBron James, his childhood friend.

May 1 (Reuters) - Regulators seized First Republic Bank (FRC.N) and sold its assets to JPMorgan Chase & Co (JPM.N) on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. Shares of JPMorgan rose 2% on Monday, while those of mid-tier banks fell and the KBW Regional Banking Index (.KRX) closed down 2.7%. [1/3] People walk past a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. "This is not the world financial crisis, this is not the savings and loan crisis. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday, it added.

Shares of JPMorgan and some of the other the largest U.S. banks rose on Monday, while those of mid-tier banks fell. [1/3] People walk past a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. "This is not the world financial crisis, this is not the savings and loan crisis. JPMorgan also entered into a loss-share agreement with the FDIC on single family, residential and commercial loans it bought, but will not take First Republic Bank's corporate debt or preferred stock. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday, it added.

First Republic was one of the major casualties of the banking crisis triggered in March, when depositors fled en masse from some U.S. lenders to institutions such as JPMorgan that they thought were safer. [1/2] People walk past a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. JPMorgan has assumed all of the bank's deposits, it said, and will repay $25 billion of the $30 billion big banks deposited with First Republic in March. JPMorgan said it expected to achieve a one-time, post-tax gain of about $2.6 billion after the deal. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday, it added.

☆ 2 JPMorgan buys First Republic Bank's assets
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +6 min

May 1 (Reuters) - JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank's (FRC.N) assets after U.S. regulators seized the troubled bank. low single digits), strategically consistent (US wealth expansion), and system friendly - FDIC loss of only $13B (<est. "First, as with the GFC (Global Financial Crisis,) this once again shows the value of a fortress balance sheet. "Assets such as the U.S. dollar and Japanese yen will be on the radar as traders look for an asset of safety. Still, unlike Silicon Valley Bank and Signature Bank, the FDIC had a buy waiting in the wings.

☆ JPMorgan buys First Republic Bank's assets
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +4 min

May 1 (Reuters) - JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank's (FRC.N) assets after U.S. regulators seized the troubled bank. The collapse marks the third major U.S. lender to fail in less than two months, after a week of panic which saw First Republic lose 75% of its market value as its future turned murkier. "Assets such as the U.S. dollar and Japanese yen will be on the radar as traders look for an asset of safety. "This development will most likely not prevent the Fed from raising U.S. interest rates this week as largely expected. Still, unlike Silicon Valley Bank and Signature Bank, the FDIC had a buy waiting in the wings.

STEPPING UPA security guard stands outside a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. The FDIC estimated in a statement that the cost to the Deposit Insurance Fund (DIF) would be about $13 billion. JPMorgan has assumed all of the bank's deposits, it said, and will repay $25 billion of the $30 billion big banks deposited with First Republic in March. New York-based JPMorgan will take on $173 billion of loans, $30 billion of securities and $92 billion of deposits. "Our government invited us and others to step up, and we did," said Jamie Dimon, JPMorgan Chairman and CEO.

☆ Futures muted as Fed caution sets in, JPMorgan to buy First Republic
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +4 min

The rescue comes less than two months after a deposit flight from U.S. lenders Silicon Valley Bank and Signature Bank forced the Fed to step in with emergency measures to stabilize markets. Apple Inc (AAPL.O) is set to report later this week. Markets should take today's news in stride knowing that the repeated bank failures should now have the Fed back on its heels and defanged moving forward." ET, Dow e-minis were down 14 points, or 0.04%, S&P 500 e-minis were down 3.75 points, or 0.09%, and Nasdaq 100 e-minis were down 13.5 points, or 0.1%. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

The hedge funds said they can share ideas, but cannot reveal their trading positions for regulatory reasons. Reddy said he preferred senior unsecured bank debt, that allowed bondholders payment ahead of some other creditors in the event of an insolvency. Taking bearish positions on banks that lend to smaller and medium sized firms could prove opportunistic if the economy weakens, he added. Trend-wise the Japanese yen should continue to weaken," said Chua, noting that central banks in Asia have slowed or paused rate hikes. Insurers, which holds commercial mortgage-backed securities and property, will likely feel pressures on CRE, he said.

April 14 (Reuters) - Citigroup Inc's (C.N) first-quarter profit beat Wall Street expectations as it earned more from borrowers paying higher interest on loans. Citi earned $1.86 per share in the first quarter, beating analysts' average estimate of $1.67, according to Refinitiv data. The bank's investment in services to corporations resulted in 31% growth in revenues in treasury and trade solutions. INVESTMENT BANKING BACK? Mason expressed cautious optimism about a recovery in investment banking.

April 14 (Reuters) - Citigroup Inc's (C.N) first-quarter profit beat Wall Street expectations on Friday as it earned more from borrowers paying higher interest on loans. While its net interest income rose 23% to $13.3 billion, Citi also set aside $241 million to cover potential loan losses, from $138 million a year earlier. Net income rose 7% to $4.6 billion, or $2.19 per share, in the three months to March 31 from $4.3 billion, or $2.02 per share, a year earlier. The banking sector was jolted by the collapse of Silicon Valley Bank and Signature Bank last month, which wiped out billions of dollars in market value. Analysts expect an economic slowdown to curb demand for loans and depress net interest margins (NIM) across the industry in the coming quarters.

☆ Lucid to cut 1,300 workers amid signs of flagging demand for its EVs
▼ + stars: | 2023-03-28 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Lucid said it will incur one-time charges totaling between $24 million and $30 million related to the job cuts, with most of that amount being recognized in the first quarter of 2023. News of the job cuts was first reported by Insider earlier on Tuesday. Severance packages will include continued healthcare coverage paid by Lucid, as well as an acceleration of equity vesting, Rawlinson wrote. Lucid said that it had more than 28,000 reservations for the Air as of Feb. 21, its most recent update. With Lucid's factory currently set up to build about 34,000 vehicles per year, the company has warned of continuing losses.

☆ Pacific Western Bank raises $1.4 bln, says deposits have stabilized
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

March 22 (Reuters) - Pacific Western Bank (PACW.O) said on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders. The bank said deposits insured by the Federal Deposit Insurance Corporation, including accounts eligible for pass-through insurance, exceeded 65% of its total deposits, as of March 20. Total deposits at the bank fell 20% to $27.1 billion from $33.9 billion as of Dec. 31. "The update that put out today versus the update that put out last Friday, the read on it is a little bit more negative," Tenner said. Reporting by Jaiveer Shekhawat and Manya Saini in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Shares of First Republic fell 20.7% in early trading after the bank suspended its dividend payout. The KBW regional banking index (.KRX) and the S&P 500 banks index (.SPXBK) fell over 2% each. "Deposits have fled from regional banks like First Republic into the big banks who are now bailing them out by putting the deposits back in. "Until you stop the deposit flight from regional banks into the systemically important banks that are too big to fail, it doesn't matter how much money you pour into the bucket." The S&P index recorded two new 52-week highs and four new lows, while the Nasdaq recorded seven new highs and 75 new lows.

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