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☆ Hurricane Hilary rapidly intensifying, could bring significant flooding to Southern California, Southwest
▼ + stars: | 2023-08-17 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

CNN —Hurricane Hilary is rapidly intensifying in the Pacific Ocean southwest of Mexico on Thursday and is on track to deliver potentially significant rain and flooding to parts of the Southwest as a weaker system starting this weekend. One of those places is Death Valley, California, the hottest place on Earth. The combination of rainfall and increased cloud cover across the Southwest is expected to bring a significant cooldown over the weekend. The most recent was an unnamed tropical storm in 1939, NOAA records show. 1997’s Nora was the last and only other tropical storm to maintain its status after crossing into California.

Persons: Hilary, Daniel Swain, San Diego Hurricane, —, Nora Organizations: CNN, National Hurricane Center, University of California, US Drought Monitor, National Oceanic, Atmospheric Administration, NOAA, San Diego Locations: Mexico, Cabo San Lucas, Peninsula, California, Southern California, Nevada, Arizona, Central California, Los Angeles, Death Valley , California, Death, floodwater, New Mexico, Phoenix

☆ Heat Tourists Flock to Death Valley National Park—Then Jump Back Into the AC
▼ + stars: | 2023-08-04 | by ( Alicia A. Caldwell | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Death Valley: 2 men got lost, drove off-road; charges pending
▼ + stars: | 2023-08-02 | by ( Marnie Hunter | ) edition.cnn.com time to read: +3 min

CNN —Two men driving in Death Valley National Park on July 4 got lost and illegally drove off-road, the US National Park Service alleges, sending one man to the hospital with heat-related illness. “Death Valley is an awe-inspiring place that demands our utmost respect and preparedness,” Superintendent Mike Reynolds said in a statement. The pair walked about another mile to paved Badwater Road, where they walked an additional 12 miles (19 kilometers) north, the Park Service said. NPSDeath Valley must: Road mapThe Park Service reminds visitors that there is no cell service in most of the park, and GPS navigation can be unreliable in remote locations such as Death Valley. The Park Service said it’s safest to stay on paved roads during the summer heat.

Persons: Mike Reynolds, ” Organizations: CNN, National Park Service, NPS, GPS, Park Service, View, “ Vehicles, Service Locations: Death, Shoshone , California, Pahrump , Nevada, Alaska

☆ July 2023 is planet's hottest month on record, Copernicus reports
▼ + stars: | 2023-07-27 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

We have just lived through the hottest three-week-period on record – and almost certainly in more than a hundred thousand years. “These are the hottest temperatures in human history,” said Samantha Burgess, deputy director at Copernicus. Remo Casilli/ReutersThe news that July will be the hottest month comes amid a slew of alarming records that have already been broken – and then broken again – this summer. Last month was the hottest June on record by a “substantial margin,” according to Copernicus. On July 6, the global average temperature rose to 17.08 degrees Celsius (62.74 Fahrenheit), according to Copernicus data, beating the previous temperature record of 16.8 degrees Celsius (62.24 Fahrenheit) set in August 2016.

Persons: Copernicus, ”, Samantha Burgess, Ronda Churchill, Carlo Buontempo, it’s, Burgess, El, Remo Casilli, we’ve, Fethi Belaid, Kim Cobb, ” Petteri Taalas Organizations: CNN, World Meteorological Organization, Visitor, Popolo, Getty, Brown University, WMO Locations: , California, AFP, Asia, US, China, Europe, Rome, Melloula, Tunisia

☆ Deadly extreme heat is on the rise in national parks – a growing risk for America’s great outdoors
▼ + stars: | 2023-07-23 | by ( Eric Zerkel | ) edition.cnn.com time to read: +13 min

More people are suspected to have died since June 1 from heat-related causes in national parks than an average entire year, according to park service press releases and preliminary National Park Service data provided to CNN. Ground zero for extreme heat deathsAll of this year’s suspected heat-related deaths took place in just three national parks: Grand Canyon, Death Valley and Big Bend. Heat risk and damage to national parks will only increase if unabated carbon pollution continues, Gonzalez said. That’s changing the personal risk calculus for summer recreation now and in the future in increasingly hotter national parks. Ronda Churchill/AFP/Getty ImagesPersonal responsibility weighs heavily in the policy direction the individual national parks take when dealing with the heat.

Persons: –, spokespeople, That’s, Patrick Gonzalez, ” Gonzalez, Gonzalez, Nicolo Sertorio, Abby Wines, Joelle Baird, Baird, Matthew Levy, Maggie Peikon, ”, I’ve, Peikon, that’s, ” Peikon, Ronda Churchill, “, ” Wines, ” Baird, James Thompson, It’s, ” Andrea Walton Organizations: CNN, Service, National Park Service, Climate Central, University of California, Death, Johns Hopkins University School of Medicine, American Hiking Society, Tourists, Visitor, Getty, Emergency, Region Public Affairs, “ Locations: Big Bend, Mississippi, Alaska, Berkeley, America, Indonesia, Ronda, AFP, Death Valley, Lake Mead, Arizona, Nevada

☆ 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 weather is so chaotic that tourists are risking their lives to take selfies with a giant thermometer in Death Valley
▼ + stars: | 2023-07-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +3 min

People are flocking to the hottest spot of them all in Death Valley, where temps are exceeding 130. But the hottest spot of them all is Death Valley National Park, the famously scorching location on the border of California and Nevada. Tourists in Death Valley. Earlier this month, a 65-year-old man was found dead in his car in Death Valley. A sign warns people not to walk outside in Death Valley after 10 am.

Persons: John Locher, Ty ONeil Organizations: Service, MSNBC, Weather, National Weather Service, National Park Service Locations: Death, Wall, Silicon, Phoenix, Europe, California, Nevada, Death Valley

Here are some of the notable weather phenomena striking the United States on Wednesday:HEATWAVE BREAKS ARIZONA RECORDA massive heat dome parked over the southern and western United States is keeping tens of millions of Americans under extreme heat advisories. Central Texas, an area stretching from San Antonio north to Dallas, is forecast to reach 105 degrees or higher over the next two days. The all-time high for Death Valley is 134 degrees, which is also the hottest temperature ever recorded on the Earth's surface. "If you have the right kind of weather pattern, you can get this transport of the smoke," Benjamin said. TROPICAL STORMS AND FLOODSHawaii's Big Island was under a tropical storm warning early Tuesday morning as it braced for Tropical Storm Calvin, expected to bring as much as 8 inches of rain and wind gusts of 40 mph, the National Weather Service (NWS) said.

Persons: Read, Stan Benjamin, Benjamin, Tropical Storm Calvin, Brendan O'Brien, Julia Harte, Aurora Ellis Organizations: Phoenix, Texas ., Yosemite National, Cooperative Institute for Research, Environmental Sciences, National Oceanic, Atmospheric Administration, Tropical, National Weather Service, NWS, Thomson Locations: Phoenix , Arizona, U.S, United States, Hawaii, China, ARIZONA, Texas, Texas . Central Texas, San Antonio, Dallas, , California, Death, Yosemite, California, Conway , New Hampshire, Smoky, Tennessee, Vermont, Montpelier

☆ The Weather by the Numbers
▼ + stars: | 2023-07-15 | by ( Colbi Edmonds | More About Colbi Edmonds | ) www.nytimes.com time to read: +2 min

A suffocating heat wave has swept across the South and Southwest in the United States, bringing dangerous temperatures and breaking heat records. Here’s what the numbers tell us about the heat and how it is affecting Americans. In California alone, 25 million people will be under heat advisories or excessive heat warnings this weekend. Death Valley National Park is projected to reach or pass 130 degrees, almost reaching the world record temperature of 134 degrees recorded there in 1913. It is forecast to challenge its record temperature of 117 degrees on Sunday.

Organizations: El, Phoenix Locations: United States, Southern, Texas, Nevada, Idaho, Oregon, In California, Las Vegas, El Paso, George , Utah, Miami, Canada, New York, Plains, Great Lakes

☆ Factbox: Hottest spots in U.S. as heat wave blankets Southwest
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

In many places in the Southwest, where hot summers are the norm, extreme temperatures are in the forecast. Here are some of the hottest spots, according to NWS forecasts for Wednesday: PHOENIXForecast high: 113 degrees Fahrenheit (45 Celsius)All-time record: 122 degrees Fahrenheit on June 26, 1990. By July 15, temperatures could climb to 118 degrees Fahrenheit, just four degrees shy of the all-time high. LAS VEGASForecast high: 109 degrees Fahrenheit (43 degrees Celsius)All-time record: 118 degrees Fahrenheit on July 26, 1931The heat wave has descended on Las Vegas just two weeks after the desert city set a record for consecutive days below 100 degrees Fahrenheit. The record high of 134 degrees is also the highest ambient temperature ever recorded on the Earth's surface.

Persons: Rachel Norstrant, Mark Heinrich Our Organizations: PHOENIX, LAS VEGAS, DALLAS, Texas, M, Service, ROSWELL, NEW, Thomson Locations: The Arizona, Las Vegas, Central, West Texas, NEW MEXICO, Roswell, CALIFORNIA, Death, New York

[1/3] Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. The S&P 500 Banks Index (.SPXBK) rose 1.14%, while the KBW Regional Banking Index (.KRX) gained about 2%. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N), Goldman Sachs (GS.N), Morgan Stanley (MS.N), Citigroup (C.N) and Bank of America (BAC.N) advanced between 1% and 2%. Higher net interest income has helped cushion a slump in the banking sector's market-sensitive business units such as investment banking and trading. Zions Bancorporation (ZION.O) shares fell 0.56% after its executives forecasted a slowdown in net interest income.

Persons: JP Morgan, Wells, Mike Santomassimo, Jack Janasiewicz, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Zions, Manya Saini, Sriraj Kalluvila, Lisa Shumaker Organizations: JP Morgan Chase Bank, Citibank, Wells Fargo & Co, Federal Reserve, Labor Department, Traders, Natixis Investment, Banks, JPMorgan, Citigroup, Bank of America, Comerica Inc, Comerica, Bancorp, Western Alliance, U.S . Bancorp, National Bancorp, Thomson Locations: U.S, Wells, KBW, Monday's, Wells Fargo, Bengaluru

☆ Here are analysts' favorite regional banking stocks as sector recovers from its crisis lows
▼ + stars: | 2023-06-11 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Investors could have reason to warm up to regional bank stocks. Over the past month, the regional bank fund has added nearly 17%. While the KRE is still well below its crisis-era lows from early May, some regional bank stocks seem to have swayed analysts that the worst is behind them. KRE 1M mountain The regional bank ETF over the past month. While the bank felt the pressure from the broader regional banking crisis, analysts aren't fleeing the stock.

Persons: aren't Organizations: Silicon Valley Bank, Regional Banking, CNBC, JPMorgan, FactSet, National, Western Alliance, WAL, Citizens Financial, Bancorp Locations: Republic

☆ JPMorgan upgrades this regional bank stock with limited exposure to commercial real estate, sees 25% gain
▼ + stars: | 2023-06-05 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan thinks there's a buying opportunity in regional bank Valley National. The bank upgraded Valley National Bancorp to overweight from neutral Monday with a $10 per share price target. Analyst Steven Alexopoulos noted that Valley National's exposure to the commercial real estate market is reasonably below peers which could shield the firm from loan headwinds. Valley National shares have tanked more than 29% in 2023. The stock dropped with the broader regional banking space after the collapse of Silicon Valley Bank and Signature Bank earlier this year.

Persons: Steven Alexopoulos, Alexopoulos, —, Michael Bloom Organizations: JPMorgan, Bancorp, Silicon Valley Bank, Signature Bank Locations: Silicon

☆ Stocks making the biggest moves premarket: Palo Alto Networks, Apple, Target & more
▼ + stars: | 2023-06-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Apple — The tech giant's shares rose about 1% ahead of Apple's Worldwide Developers Conference, which kicks off Monday at in Cupertino, California. Valley National Bancorp — The regional bank climbed more than 4% after JPMorgan upgraded the stock to overweight from neutral. Target — KeyBanc downgraded the retailer to sector weight from overweight, warning that the resumption of student loan repayments could squeeze Target's margins. Shares of Target were down less than 1% in premarket trading. Morgan Stanley downgraded the discount retailer's stock to equal weight from overweight on Sunday, citing its "thesis-shifting quarter."

Persons: Dow, —, Morgan Stanley, Estee Lauder, Oppenheimer, Alex Harring, Jesse Pound Organizations: NYSE, Apple, Apple's, Conference, Alto Networks, Dow Jones, Dish Network, Dish, National Bancorp, JPMorgan, Target Locations: Cupertino , California, premarket, Manhattan

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Meta, Micron, Bowlero, Nike, Disney and more
▼ + stars: | 2023-06-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Oppenheimer reiterates Meta as outperform Oppenheimer raised its price target on the stock to $350 per share from $285 and said it's well-positioned. Deutsche Bank upgrades Rio Tinto to buy from hold Deutsche Bank said shares of the metals and mining company are very attractive. Morgan Stanley reiterates Disney as overweight Morgan Stanley lowered its price target on the stock to $110 from $120 but said it's standing by the shares. " Morgan Stanley downgrades Dollar General to equal weight from overweight Morgan Stanley said in its downgrade of Dollar General that it sees too many risks right now. Morgan Stanley upgrades Equitrans Midstream to overweight from underweight Morgan Stanley said the energy company is better positioned after the debt ceiling raise.

Persons: Tesla, Canaccord, Oppenheimer, it's, TD Cowen, Cowen, Bernstein, it's bullish, Needham, Coinbase, Morgan Stanley, Disney, KeyBanc, Jefferies, Wolfe, Wells, Wells Fargo, Estee Lauder, Morgan Stanley downgrades, Equitrans, Stifel, Brett Parker, JPMorgan Chase Organizations: U.S, Formula, Deutsche Bank, Rio Tinto, Disney, Media, Target, Costco, Jefferies, Oracle, Palo Alto Networks, Alpha, Citi, Micron, Wells Fargo, Nike, Bank of America, Apple, of America, Pipeline, Barclays, Meta, JPMorgan Chase, JPMorgan Locations: China, Rio, Lido, Binance, Palo, SKX

☆ US regional bank stocks fall after Yellen says more bank mergers necessary
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, May 19 (Reuters) - Shares of U.S. regional lenders fell on Friday after CNN reported that U.S. Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary following a series of bank failures. Yellen also reaffirmed the strength and soundness of the country's banking system at the meeting with bank CEOs on Thursday in the aftermath of the collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank. The KBW Regional Banking Index (.KRX) fell 3%, with shares of PacWest Bancorp (PACW.O) and Western Alliance (WAL.N) among the biggest losers as they shed 4% each. The regional bank crisis has been partly blamed by some on aggressive interest rates by the U.S. Federal Reserve, which forced some lenders to seek new capital to make up for a fall in the value of assets linked to interest rates. The debt ceiling dispute has weighed on market sentiment, including for regional bank stocks.

☆ Analysis: Overexposed US regional banks could sell commercial property loans
▼ + stars: | 2023-05-17 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

Still, previously unreported data from New York-based real estate data provider Trepp, shared with Reuters, show many regional banks' holdings exceed thresholds stipulated by regulators. While big banks have recently warned about CRE exposure, the new Trepp data underscores how acute and widespread the problem is across the banking sector. The regulatory guidance requires that banks exceeding these thresholds "should employ heightened risk management practices," including potential sales of specific loans. Meanwhile, New York Community Bancorp (NYCB.N) and Flagstar Bank [RIC:RIC:FBCANK.UL] were among the top five banks listed by Trepp that exceeded the CRE loan threshold. In Tuesday congressional testimony, FDIC chair Martin Gruenberg warned CRE loan portfolios "face challenges" should market conditions persist.

May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. Other U.S. regional banks also retreated. REUTERS/Mike Blake/File Photo 1 2The KBW Regional Banking index (.KRX) fell 2.82% after gaining nearly 4.7%. But hedge funds, which often engage in short selling, pushed back on Monday, saying in a letter to Gensler that a ban would be counterproductive. Yellen said it is in the SEC's purview to regulate short selling although there is a high bar for any controls if evidence of market manipulation was found.

May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. "The dividend cut is not a good sign," said Jamie Cox, managing partner at Harris Financial Group. Other U.S. regional banks also retreated. The KBW Regional Banking index (.KRX) fell 1.5% after gaining nearly 4.7%. "I have a general fear that smaller banks are going to disappear, and we're going to end up with just a few large banks."

☆ PacWest, Western Alliance hit as US banking concerns widen
▼ + stars: | 2023-05-04 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

PacWest (PACW.O) slumped 37% in premarket trade, after having lost 29% since Monday. Reuters had reported on Wednesday that PacWest was exploring strategic options including a potential sale or capital raising, which the lender confirmed late in the day. Zion Bancorporation (ZION.O), KeyCorp (KEY.N), Valley National Bancorp (VLY.O), Comerica (CMA.N) and First Horizon (FHN.N) dropped between 2% and 6%. The SPDR S&P Regional Banking ETF (KRE.P) shed 2.8%. PacWest Bancorp reported a loss of $1.1 billion attributed to shareholders for the first quarter of the year.

☆ Futures waver as PacWest slide offsets Fed pause optimism
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +3 min

The Fed over the past 14 months has raised rates by 500 basis points to tame price pressures in its most aggressive policy tightening since the 1980s. The KBW Regional Banking index (.KRX) and S&P 500 Banks index (.SPXBK) have lost around 29% and 15% so far in 2023. Investors will also monitor weekly jobless claims for further clues on the state of the labor market. Qualcomm Inc (QCOM.O) slumped 6.7% after third-quarter forecasts missed estimates, while Etsy Inc (ETSY.O) gained 3% on beating expectations for quarterly revenue. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ PacWest tumbles on weighing options, other U.S. regional bank stocks fall
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

May 4 (Reuters) - Shares of U.S. regional banks fell premarket on Thursday, hurt by a 37% slump in PacWest Bancorp (PACW.O) after its announcement about exploring strategic options spurred market concerns of a worsening banking crisis. Zion Bancorporation (ZION.O), KeyCorp (KEY.N), Valley National Bancorp (VLY.O), Comerica (CMA.N) and First Horizon (FHN.N) dropped between 2% and 6%. The SPDR S&P Regional Banking ETF (KRE.P) shed 2.8%. The slide in shares of PacWest and its peers highlights uncertainty around the health of regional banks despite regulatory efforts to call an end to the banking crisis that started with the collapse of Silicon Valley Bank and Signature Bank in March. PacWest Bancorp reported a loss of $1.1 billion attributed to shareholders for the first quarter of the year.

☆ Regional bank stocks edge higher after two-day slump
▼ + stars: | 2023-05-03 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

PacWest Bancorp (PACW.O) shares rose 6.5% in early afternoon trading after tumbling 28% to close at their lowest level on record on Tuesday. Western Alliance Bank (WAL.N) advanced 4.2%, while Comerica (CMA.N) and Valley National Bankcorp (VLY.O) added nearly 1% and more than 2%, respectively. The KBW Regional Banking Index (.KRX) rose 2% after closing at its lowest level since December 2020 on Tuesday. The plunge in regional bank stocks came after U.S. regulators seized First Republic Bank and sold off its assets to JPMorgan Chase & Co (JPM.N) for $10.6 billion. The bank selloff indicates investor unease over their outlook following the First Republic deal, Brown Brothers Harriman analysts wrote in a note.

☆ Stock futures fall after the Federal Reserve hikes rates and bank contagion fears return: Live updates
▼ + stars: | 2023-05-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Stock futures fell after the Federal Reserve hiked rates by another 25 basis points and investors' fears of contagion in the regional bank space returned. S&P 500 futures shed 0.46%. Regional bank shares sold off hard, with Western Alliance tumbling nearly 30% and Zions Bancorporation dropping nearly 12%. Since the closure of Silicon Valley Bank in March, First Republic has joined the ranks of failed institutions and was recently taken over by JPMorgan Chase. "I believe with a very high degree of probability there's going to be further regional bank failures."

☆ Stocks making the biggest moves after hours: PacWest, SolarEdge, Etsy, Qualcomm and more
▼ + stars: | 2023-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Etsy — Etsy jumped 6.7% after beating first-quarter revenue expectations. The online marketplace focused on handmade goods reported revenue of $641 million, topping the estimate of $622 million, according to consensus data from Refinitiv. TripAdvisor — TripAdvisor slid 6.2% after disappointing first-quarter earnings results. The online travel firm posted adjusted earnings of 5 cents per share, lower than the consensus forecast for 7 cents per share, according to Refinitiv. The firm reported a loss of 6 cents per share, better than the 8 cents per share loss expected by analysts, according to Refinitiv.

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