DIRS.INFO The most relevant business & tech news

☆ What does Moody’s downgrade mean for markets?
▼ + stars: | 2023-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Moody’s on Monday evening downgraded 10 US banks and put the credit ratings of six others on review, an indication that the agency could also eventually downgrade those institutions. Some investors say that while the Moody’s downgrade isn’t groundbreaking, it’s a reminder that the economy, and markets, still have challenges ahead. Moody’s downgraded Commerce Bank, BOK Financial, M&T Bank, Old National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial and Associated Bank. Wall Street firms fined $549 million for using WhatsApp and other channelsWells Fargo is among a number of Wall Street firms that admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties totaling $289 million, reports my colleague Matt Egan.

Persons: CNN — Moody’s, JPMorgan Chase, Wells, Goldman Sachs, BNY, Cullen, Frost, ” Moody’s, ”, Kara Murphy, Fitch, Christopher Marinac, Janney Montgomery Scott, Price, Matt Egan, Houlihan Lokey, Alicia Wallace Organizations: CNN Business, Bell, CNN, Bank, Dow Jones, Nasdaq, JPMorgan, Banking, BNY Mellon, Northern Trust, Frost Bankers, Truist Financial, US Bank, Moody’s, Commerce Bank, BOK, T Bank, National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial, Associated Bank, PNC Financial Services, Financial, Citizens Financial, Fifth Third Bank, Huntington Bank, Regions Financial, Cadence Bank, FNB Corp, Simmons, Ally Financial, Bank OZK, Valley Bank, Signature Bank, Federal Reserve, Kestra Investment Management, Consumer, Wall Street, Securities, Exchange Commission, SEC, BNP, SG Americas, BMO Capital Markets, Mizuho Securities, SMBC Nikko Securities, Federal Reserve Bank of New Locations: Wells Fargo, Amarillo, Marinac, Wells, SMBC Nikko Securities America, WhatsApp, Federal Reserve Bank of New York, York

☆ Truist says this power generator builder can rally more than 40%
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Generator supplier Generac is primed for major gains ahead, according to Truist. The firm upgraded the stock to buy from hold on Friday. GNRC 5D mountain Generac this week But analyst Jordan Levy said investors shouldn't shy away from the stock. The analyst also pointed to potential upside compared to the firm's 2024 forecasts for growth thanks to pent up demand for home standby generators. Investment firm Janney also upgraded Generac to buy on Friday, citing improvements in free cash flow generation, an attractive valuation and potential upside from an analyst day in September.

Persons: Jordan Levy, Levy, Janney, — CNBC's Michael Bloom Organizations: Investment Locations: Thursday's

☆ Janney upgrades Sunrun to buy, sees nearly 80% upside as the solar company gains market share
▼ + stars: | 2023-08-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors should buy up shares of Sunrun , as it continues to stand out in the solar industry, according to Janney. The company's margins are expanding through higher battery attach rates and lower component pricing, for example. And while competitors are seeing the same, Meric sees Sunrun as being "structurally more well-positioned" through its high third-party owner percentage and incumbent tax-equity relationships. Sunrun is executing on its plan despite a volatile solar market, which Meric expects will come through in added customers and margins over the next several quarters. The most foreseeable problem for Sunrun is its costs, Meric said.

Persons: Janney, Thomas Meric, Meric, Sunrun, Michael Bloom Organizations: Enphase Energy Locations: Wednesday's, California

☆ Here are Thursday's biggest analyst calls: Apple, Qualcomm, Roku, Etsy, Roblox, Robinhood, Sunrun and more
▼ + stars: | 2023-08-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.

Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22

It will be based in Los Angeles and led by Banc of California CEO Jared Wolff. Shares of PacWest surged 34% after the market close, while Banc of California jumped 9%. PacWest stockholders will receive 0.6569 Banc of California shares for each PacWest share they currently own. Meanwhile, the two private equity firms will be issued new Banc of California stock worth $400 million at a price of $12.30 per share. PacWest had total assets of $44 billion at the end of March, while Banc of California had assets of $10 billion, according to separate company filings.

Persons: Warburg Pincus, Centerbridge, Jared Wolff, PacWest, Timothy Coffey, Janney Montgomery Scott, Janet Yellen, Ares Management, Wolff, We've, David Smith, Nomura, Niket, Nupur Anand, David French, Pete Schroeder, Tatiana Bautzer, Megan Davies, Lananh Nguyen, Arun Koyyur, Jonathan Oatis, Sonali Paul Organizations: PacWest Bancorp, Warburg, Centerbridge Partners, midsize, RARE, Bank, Pacific Western Bank, Federal Deposit Insurance Corporation, Autonomous Research, U.S, Thomson Locations: Banc, California, Los Angeles, U.S, Bengaluru, New York

☆ Banc of California and PacWest Bancorp will merge into a new bank holding $36 billion in assets
▼ + stars: | 2023-07-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Banc of California and PacWest Bancorp shares surged after announcing an all-stock merger. The new bank will have $36 billion in assets and $30.5 billion in total deposits. Banc of California shares jumped 8.4% to $15.85 apiece in after-hours trade, extending gains from an 11% rise on Tuesday. The all-stock deal will result in a new bank with $36 billion in combined assets, Banc of California and PacWest announced on Tuesday. It will have $25.3 billion in total loans and $30.5 billion in total deposits.

Persons: PacWest, Jared Wolff, Warburg Pincus, Wolff, We've, Timothy Coffey, Janney Montgomery Scott Organizations: PacWest Bancorp, Morning, Warburg, Centerbridge, Reuters, Silicon Valley Bank, Signature Bank, JPMorgan, First Republic Bank, First Citizens Bank, New York Community Bancorp Locations: California, Banc, Silicon, Signature Bank , New York

(Reuters) -Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and spike in deposit costs. NII - the difference between what banks make on loans and pay out on deposits - rose for nearly all banks reporting earnings for the April-June quarter, with Comerica and Huntington also topping profit estimates. Mid-sized lender Regions Financial, which also reported results on Friday, said its deposit costs had risen in the second quarter. Comerica slashed its 2023 NII growth forecast to a range of 1% to 2% from 6% to 7% estimated earlier, and its shares fell 3.8%. Its shares slipped 1.3% in late-morning tradeRegions Financial kept its 2023 NII forecast unchanged but its stock declined 3.4%.

Persons: Huntington Bancshares, Mike Segar, Huntington, ”, Christopher Marinac, Janney Montgomery Scott, James Herzog Organizations: Reuters, Comerica, Huntington, Wall, New York Stock Exchange, REUTERS, Federal, Financial, ” Comerica Locations: Manhattan, New York City , New York, U.S

☆ Regional bank yields have fallen but plenty are still paying more than 4%
▼ + stars: | 2023-07-21 | by ( Scott Schnipper | ) www.cnbc.com time to read: +3 min

Western Alliance Bancorporation of Phoenix left its dividend unchanged at 36 cents a share in May and yields 3%. As of Friday, the bank's common stock still yields 7.1%, albeit down from 8.5% as recently as May. Comerica Bank in Dallas pays a dividend equivalent to a 5.5% yield, down from 7.9% in May. The banks' yields have fallen as the stocks have recovered some of their losses from earlier in the year. To judge the safety of bank dividends, take a look at their dividend payout ratios , which measure the percentage of earnings paid out in dividends.

Persons: Janney Montgomery Scott, Janney, Daniel Cardenas, — CNBC's Michael Bloom Organizations: PacWest Bancorp, Western Alliance, Truist Financial Corp, Rhode, Financial, Valley Bank, First Republic Bank, Comerica Bank, Heritage Commerce, Northrim BanCorp, Financial of, National Bancorp of Locations: Phoenix, Charlotte , North Carolina, Cleveland, Dallas, 2H23, Los Angeles, San Jose , California, Alaska, Financial of Ohio, National Bancorp of New Jersey

☆ The worst of the US banking turmoil is behind us, says analyst
▼ + stars: | 2023-07-20 | 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 EmailThe worst of the US banking turmoil is behind us, says analystChristopher Marinac of Janney Montgomery Scott shares his views on U.S. bank earnings and explains why he is bullish on the sector.

Persons: Christopher Marinac, Janney Montgomery Scott

☆ Better valuations are ahead for bank stocks following stress test results: Christopher Marinac
▼ + stars: | 2023-06-28 | 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 EmailBetter valuations are ahead for bank stocks following stress test results: Christopher MarinacChristopher Marinac, Janney Montgomery Scott director of research, joins 'Fast Money' to discuss the results of the Federal Reserve's banking stress test and what that means for bank stocks moving forward.

Persons: Christopher Marinac Christopher Marinac, Janney Montgomery Scott Organizations: Federal

☆ How 5 private-credit players, from Apollo to Carlyle, are investing in sports, media, and entertainment as content costs soar and a writers' strike paralyzes Hollywood
▼ + stars: | 2023-06-26 | by ( Reed Alexander | Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Asset managers big and small, from Carlyle and Apollo to Serengeti and Shamrock, are pushing into the space. The entertainment industry's love affair with private credit is one of the hottest storylines in Hollywood right now. Credit lenders are saying "lights, camera, action" to the idea of deploying dollars into movies, TV, and live sports. Insider previously reported that analysts were warning of the risks that could mount across private credit as rates rise. Insider gathered details on asset managers' lending strategies in Hollywood, media, and sports.

Persons: Carlyle, Christopher Marinac, Janney Montgomery Scott, Blackstone, Moody's, Marinac, JPMorgan Chase Organizations: Bank of America, Citigroup, JPMorgan Locations: Shamrock, Hollywood, Republic

Financial markets, however, are still pricing in a 25-basis-point rate increase in July and no further hikes after that, according to CME FedWatch tool. Ahead of his second day of testimony before the U.S. Senate Banking Committee at 10 a.m. Shares of Tesla (TSLA.O) slid 3% before the bell after Morgan Stanley downgraded the electric automaker to "equal weight" from "overweight". ET, Dow e-minis were down 114 points, or 0.33%, S&P 500 e-minis were down 13.75 points, or 0.31%, and Nasdaq 100 e-minis were down 61 points, or 0.41%. Reporting by Shubham Batra and Shristi Achar A in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Morgan Stanley, Jerome Powell, Powell, Mark Luschini, Janney Montgomery Scott, Shubham Batra, Shristi, Arun Koyyur Organizations: Dow, Nasdaq, Federal, U.S . Senate, Tesla, Dow e, Microsoft, Boeing, Accenture, Darden, Olive Garden, Thomson Locations: Washington, Wichita , Kansas, Bengaluru

Financial markets, however, are still pricing in a 25-basis-point rate increase in July and no further hikes after that, according to CME FedWatch tool. After Powell reinforced the Fed's inflation objective, rate-sensitive megacap companies pushed Wall Street's major indexes lower for the third straight session on Wednesday. Yields on the 2-year and 10-year Treasury notes were little changed after the data and ahead of Powell's testimony before the U.S. Senate Banking Committee at 10 a.m. The S&P index recorded three new 52-week highs and three new lows, while the Nasdaq recorded 12 new highs and 33 new lows. Reporting by Shubham Batra, Shristi Achar A and Medha Singh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Morgan Stanley, Jerome Powell, Powell, Wall, Mark Luschini, Janney Montgomery Scott, advancers, Shubham Batra, Shristi, Medha Singh, Arun Koyyur Organizations: Dow, Nasdaq, Tesla, U.S . Senate, Dow Jones, Boeing, Accenture, Darden, Olive Garden, NYSE, Thomson Locations: Washington, Wichita , Kansas, Bengaluru

Gains in megacap stocks including Nvidia and Microsoft set up the tech-heavy Nasdaq for its eighth consecutive week of gains, while the benchmark S&P 500 was set for its fifth straight week of rise. Trading, however, is expected to be volatile on Friday due to the simultaneous expiration of stock options, stock index futures and index options contracts, known as triple witching. ET, is expected to show the index rose to 60 in June from 59.2 in May. The S&P index recorded 19 new 52-week highs and no new lows, while the Nasdaq recorded 74 new highs and 10 new lows. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, Mark Luschini, Janney Montgomery Scott, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: Nvidia, Adobe, Dow, Nasdaq, Microsoft, Trading, University of, Dow Jones, Adobe Inc, iRobot, NYSE, Thomson Locations: U.S, Bengaluru

☆ Stocks making the biggest moves before the bell: American Express, Domino's, Coinbase and more
▼ + stars: | 2023-06-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Cognyte Software — Shares rose 5.6% in the premarket following the software company's quarterly report. American Express — Shares of the credit card company dipped 2% in premarket trading after Citi warned that credit card spending trends have slowed. Citi opened a negative catalyst watch for American Express, warning that travel and entertainment categories are slowing more sharply than other categories. SoFi — Shares slid 4% after Oppenheimer downgraded the financial technology stock to perform from outperform. Zions Bancorp — The bank stock slid 1.4% in the premarket.

Persons: Cognyte, Wall, Aldeyra, Mizuho, SoFi, Oppenheimer, Janney, —, Sarah Min, Michelle Fox, Jesse Pound Organizations: FactSet, Therapeutics, Citi, American Express, Stifel, Corning, Zions Bancorp, Bancorp Locations: Wednesday's

☆ Nvidia shares are on a tear this year. Why Wall Street is bracing for a near-term pullback
▼ + stars: | 2023-05-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Nvidia shares are on a tear this year as the chipmaker asserts it dominance and cements itself as the one to beat in the AI arms race. NVDA YTD mountain Nvidia shares in 2023 Wall Street analysts and investors remain confident in the long-term trajectory of the stock, but say its latest jaw-dropping surge sets Nvidia up for a short-term pullback. Overbought conditions and a short-term pullback Despite Nvidia's jaw-dropping print, most near-term momentum indicators show the stock is overbought. Even so, Wald suggests investors consider buying on any pullback and using market dips to sell relatively weaker positions and buy Nvidia. Consolidation in megacaps Nvidia isn't the only big technology giant Wall Street's cooling on at least in the near-term.

Persons: Paul Meeks, Ari Wald, Oppenheimer, Wald, Janney Montgomery Scott, Dan Wantrobski, Katie Stockton, tailwinds, Price, Microsoft's, Meeks, Michael Bloom Organizations: Nvidia, Independent Solutions Wealth Management, Street, Amazon, Microsoft, Apple Locations: Tuesday's

☆ This company models itself after Warren Buffett's Berkshire Hathaway. Analysts say it can beat the market too
▼ + stars: | 2023-05-21 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Founded in 1930 and with a market value today of $18 billion, Markel is first and foremost a specialty insurance company focused on niche markets like livestock and dude ranches. Some Wall Street analysts have praised Markel's recent performance against both peers and the broader market. Markel has returned 16.1% annually over the past three years while the S & P 500 has returned 12.4%, according to FactSet. "Given the favorable insurance market conditions in many of MKL's product lines, we believe the company's P/B multiple may expand if it can maintain solid profitability." Markel also has its appeal to Berkshire, which took a $600 million stake in Markel in early 2022.

☆ Why bank stocks are so unstable
▼ + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.

☆ This 'dirt cheap' regional bank stock could rebound more than 100%, Janney says
▼ + stars: | 2023-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Janney analyst Timothy Coffey said in a note to clients Monday that Western Alliance is now "dirt cheap" and reiterated his buy rating on the stock. "Bank stocks of all stripes have been volatile since Silicon Valley Bank and Signature Bank were closed in mid-March. However, recent volatility in WAL (and, for that matter, PACW, BUY-rated) do not indicate company-specific weakness," the Janney note said. Janney has a fair value estimate of $63 per share for Western Alliance, which is more than 100% above where the stock closed on Friday. The stock was trading above $70 per share in March before Silicon Valley Bank collapsed, triggering the sell-off for regional banks.

☆ Stocks making the biggest moves midday: Berkshire Hathaway, Catalent, Tyson Foods, Zscaler and more
▼ + stars: | 2023-05-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway — The conglomerate's A shares rose more than 1% as investors cheered a strong earnings report from Warren Buffett's company. Tyson Foods — Shares plummeted 15% after the food production company posted an unexpected loss for the recent quarter and cut its revenue outlook for the year. PacWest - The regional bank stock held on to a gain of about 3% on Monday. Six Flags posted a narrower-than-expected loss of 84 cents per share, compared to expectations of a per-share loss of 89 cents, according to FactSet. Six Flags posted revenue of $142.2 million, greater than the expectation of $132.6 million, with CEO Selim Bassoul calling the results "proof points" that its new strategy is working.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Berkshire Hathaway, Coinbase, Disney & more
▼ + stars: | 2023-05-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Deutsche Bank reiterates Apple as buy Deutsche said it's standing by its buy rating on the stock after reviewing Apple's quarterly 10-Q filing. JPMorgan upgrades American to overweight from neutral and downgrades Southwest to neutral from overweight. JPMorgan initiates Alcoa as overweight JPMorgan said in its initiation of Alcoa that it sees a "favorable aluminum metal pricing environment in the coming years." Bank of America upgrades Fortinet to buy from neutral Bank of America said the cybersecurity company has solid fundamentals. JPMorgan upgrades Scotts Miracle-Gro to overweight from neutral JPMorgan said the fertilizer company is a "reasonable investment."

While the Dow Jones Industrial Average 's year-to-date move into the red on Thursday may signal more choppy, range-bound trading ahead, technical analysts say they don't think it's an omen for new multi-year lows. Chart experts say the closely followed blue-chip Dow Jones average could test long-term moving averages. .DJI YTD mountain The Dow Failing to hold above its 200-day moving average of 32,707 could mean more downside ahead for the 30-stock average, said JC O'Hara, chief technical strategist at Roth MKM. "On average the stocks have an aggregated [earnings] surprise of nearly +10%, but the stocks are not being rewarded," O'Hara said of earnings season for Dow stocks thus far. Now, the Dow is the only one of the three in the red on the year as investors favor growth stocks over value.

☆ Banks are being used as weapons of destruction, says Janney's Christopher Marinac
▼ + stars: | 2023-05-04 | 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 EmailBanks are being used as weapons of destruction, says Janney's Christopher MarinacChristopher Marinac, Janney Montgomery Scott director of research, joins 'Power Lunch' to discuss regional banking stocks and what bank earnings are saying about the sector.

☆ Analysts warn regional banks stocks are in a 'negative feedback loop' and detached from fundamentals
▼ + stars: | 2023-05-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The latest drop for regional bank shares is causing some Wall Street analysts to back away from their recommendations on the stocks, even if they still believe in the underlying fundamentals for the companies. Other regional banks also sold off, including a 19% drop for Western Alliance. The deposit update was not enough to reassure all Wall Street analysts about the health of regional banks, and there is concern that the drops in the stocks could reignite deposit flight. Meanwhile, RBC Capital Markets' analyst Jon Arfstrom stuck with his outperform rating on PacWest, but said only investors with strong stomachs should stick around. Western Alliance Another bank stock that has taken heavy loses in recent weeks is Western Alliance .

☆ Quotes: Fed plans broad revamp of bank oversight in wake of SVB collapse
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +11 min

The assertion in the introduction that the Fed should focus on large bank capital requirements is disconnected from the report's conclusions. AMERICAN BANK ASSOCIATION PRESIDENT AND CEO ROB NICOLS"We take any bank failure seriously, and we will review the findings and proposed policy changes in these reports carefully, including where the conclusions may differ. JONATHAN MONDILLO, HEAD OF NORTH AMERICAN FIXED INCOME AT ABRDN"We're likely to see higher capital requirements. What that means for the overall markets is that the devil is in the details: how stringent those capital requirements will be. A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals."

Search resuls for: "Janney"

25 mentions found