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☆ India's Glenmark Pharma reports lower Q4 profit as domestic sales weaken
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, May 19 (Reuters) - India's Glenmark Pharmaceuticals Ltd (GLEN.NS) reported a 12.3% decline in fourth-quarter profit on Friday, hurt by higher input costs and lower demand in its domestic drugs business. Consolidated profit before exceptional items and tax fell to 3.09 billion rupees ($37.78 million) for the three months ended March 31, from 3.52 billion rupees a year earlier, the cetirizine maker said in a stock exchange filing. Glenmark, which caters to the therapeutic areas such as diabetes, cardiovascular and oral contraceptives, reported a 11.5% rise in quarterly net sales. Input costs for the quarter rose 11% to 8.77 billion rupees from a year earlier. Glenmark Pharma shares had climbed 9.6% in the March quarter, comfortably outperforming the Nifty Pharma index (.NIPHARM) that fell 4.6%.

☆ Tech stocks are outperforming the S&P 500 at record levels
▼ + stars: | 2023-05-19 | 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 EmailTech stocks are outperforming the S&P 500 at record levelsWorth Charting's Carter Worth and CNBC's Deirdre Bosa joins 'The Exchange' to discuss how A.I. is fueling a tech rally, locating the next big tech names, and concentration in the market accounting for the S&P's major gains.

☆ Outperforming fund manager is bullish on these cybersecurity stocks, citing more room for growth
▼ + stars: | 2023-05-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Cybersecurity is one area that presents an opportunity for investors right now, according to portfolio manager Philip Ripman of Storebrand Asset Management. Stock picks Ripman, who manages the $1 billion Storebrand Global Solutions fund, which has a focus on sustainability, is bullish on two cybersecurity firms in particular: Palo Alto and Crowdstrike . Both stocks are among the top 10 holdings in his fund, with Palo Alto accounting for 3.8% of the fund, and Crowdstrike at 3.7%. And he pointed out that the fortunes of the U.S. stock market are dominated by a few mega-cap companies. Ripman's fund avoids companies that make over 5% of their revenues from fossil fuels, tobacco, alcohol, war and other vice-related activities.

☆ 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

Yet for many, the lofty milestones are a reminder that Japan's stocks have gone sideways for years, making many foreign asset allocators reluctant to venture into the market. "A very significant inflow from global investors (followed)," Powell said, "but then unfortunately, a lot of the enthusiasm has dissipated." Swiss wealth manager Union Bancaire Privée is also underweight Japan, with the policy outlook presenting currency risks. BIG MONEY WAITINGThe policy and communication challenge for new BOJ governor Kazuo Ueda is a tricky one. "Big money never buys cheap, it buys momentum."

☆ Analysis: 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

☆ A Sony spinoff comes better late than never
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 18 (Reuters Breakingviews) - A long-awaited Sony (6758.T) spinoff is finally happening. The Japanese video games-to-semiconductors conglomerate may list its financial subsidiary "within the next two to three years" while retaining a 20% stake. Investors promptly bid up shares of Sony as much as 7% on the news. Partially offloading Sony Financial Services, which the company only took full control of in 2020 for $3.7 billion, makes sense. Sony stresses it is not planning any other spinoffs for now - one of them is plenty to look forward to.

☆ Premarket stocks: Investors shouldn't ignore this recession warning sign
▼ + stars: | 2023-05-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

“Retail growth held on by the skin of its teeth this month,” said Neil Saunders, managing director of GlobalData. The retailer posted disappointing sales for its first quarter and lowered its outlook for the year as customers slowed their spending. Total sales ticked up 0.5% during its latest quarter from a year ago, the company said Wednesday. The bill, which will take effect in January, specifically names TikTok as its target, prohibiting the app from operating within state lines. Pence said he expects to come to a decision about a presidential run before the end of June.

Morgan Stanley analyst warned of potentially big swings for some of the regional banks it covers as the fallout for the crisis continues. Analyst Manan Gosalia downgraded Commerce Bancshares and Prosperity Bancshares to underweight from equal weight. Commerce Bancshares' new price target of $48 implies shares declining 3.5% from Monday's close. Meanwhile, the analysts' new price target of $60 per share for Prosperity Bancshares implies a 1% loss from where shares closed on Monday. To be sure, the analyst said that in the case deposit outflows do accelerate, Commerce Bancshares and Prosperity Bancshares would end up outperforming their peers due to their "generally more resilient funding profiles."

☆ How to trade this week's retail earnings reports
▼ + stars: | 2023-05-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The home-improvement giant has also exceeded earnings expectations by 3.2% over the past 10 years. However, Home Depot shares are typically muted after the company reports earnings. Ross Stores, which also reports Thursday, has beaten earnings expectations 82.5%, too. The company has beaten analyst expectations 77.5% of the time, and its earnings per share have exceeded estimates by more than 3%. The company is slated to report earnings Thursday.

☆ Investors may be crowding too much into defensive stocks amid market jitters
▼ + stars: | 2023-05-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The S & P 500 posted its second straight weekly decline, falling 0.3% this week. Given this backdrop, investors have turned to several consumer staples — traditionally seen as defensive stocks — to shore up their portfolios. Mondelez , PepsiCo and Molson Coors — all staples — are the most overbought S & P 500 names through Friday's session. Shares of Mondelez have rallied more than 16% year to date, easily outperforming the S & P 500's 7.4% advance. Estee Lauder is the most oversold S & P 500 stock.

☆ CEOs thought the return to office debate was over. It looks like they were wrong
▼ + stars: | 2023-05-13 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Other companies, too, could see reverberations if they enact similar policies, especially if the mandates feel arbitrary, human resources professionals say. That's why companies that want to bring workers back to the office need to focus on reconfiguring workspaces to foster additional collaboration. If your company hasn't yet, maybe don't 'mandate'Many companies are still ironing out their return-to-office policies. JustAnswer, an online source for professional information, has seen a 49% increase in questions related to return-to-office mandates and/or policies in its Employment Law category compared with May 2022. Companies should also evaluate whether across-the-board policies make sense, or whether in-office mandates should be implemented for certain functions only, Kogut said.

☆ Singapore bank OCBC posts record quarterly profit, upgrades margin guidance
▼ + stars: | 2023-05-10 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

OCBC, which is also Southeast Asia's second-biggest bank by assets, said January-March net profit rose 39% to S$1.88 billion ($1.42 billion), beating the mean estimate of S$1.74 billion from five analysts polled by Refinitiv. OCBC reported a total net interest margin, a key gauge of profitability, of 2.30% for the first quarter, up from 1.55% in the same period a year earlier. The bank forecast a full-year net interest margin of about 2.2%, up from 2.1% previously. The first quarter was also strong for Singapore's other major banks, with larger peer DBS Group (DBSM.SI) reporting last week a 43% jump in first quarter net profit that was also a record. Smaller United Overseas Bank (UOBH.SI) posted last month a 74% surge in core net profit.

"We are looking into ways to express this (China recovery) theme in our portfolio rather than just say 'let's go long China equity'. "Given the higher risk premium of China stocks, the demand for 'shadowing' China will continue to be strong," Jefferies said. The relative cheapness of European stocks, at least at the start of this year, has also been important. Luxury stocks - less vulnerable to sanctions - have performed well, but geopolitical worries have bruised tech firms, and manufacturing difficulties have hurt commodity stocks. "What is doing extremely well this year is luxury; if you'd bought European miners hoping that China would stimulate, you'd have got it wrong."

SummarySummary Companies Q1 investment bank sales up 20%Trading activity outperforms peersConfirms 2025 targetsPARIS, May 10 (Reuters) - Credit Agricole SA (CAGR.PA), France's second-biggest listed bank, posted better-than-expected earnings on Wednesday, as market volatility boosted trading revenue. This helped drive Credit Agricole's quarterly sales to 6.12 billion euros ($6.74 billion), up 9.6% from a year earlier, while net income more than doubled to about 1.23 billion euros. Both figures beat market expectations of 5.9 billion euros and 816 million euros, respectively, according to an analyst consensus compiled by the company. Deposit levels were stable in the quarter from a year earlier for the group, Credit Agricole said. The cost of risk -- money set aside for failing loans -- fell to 374 million euros, as concerns linked to the war in Ukraine subsided.

☆ A stock picker's market is forming for the first time since 2008 as investors ditch ETFs and pile into single shares, Bank of America says
▼ + stars: | 2023-05-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Bank of America said it seeing the first sign of a stock picker's market since 2008. So far this year, $25 billion has flowed into single stocks while ETF outflows have reached $9 billion. The figures point to the "first sign of a stock picker's market since 2008," Jill Carey Hall, who leads BofA's small and mid-cap strategy, said in a weekly update capturing activity among its clients. While more money is flowing to stock pickers, their actual performance versus the rest of the market is another matter. Single stock inflows with ETF outflows from 2008 to 2023.

The dollar remained relatively weaker against most of its major peers, even as the dollar index rose 0.059% and the euro fell 0.15% to $1.1002. Friday's robust U.S. payrolls report prompted investors to dial back their expectations for the timing and size of the Fed's first interest rate cut. The two-year Treasury yield, which typically moves in step with interest rate expectations, rose a touch above 4.0%. The dollar rose 0.18% against the yen. Bullion regained ground after a sharp retreat in the previous session, ahead of the inflation data that could shed light on the outlook for U.S. interest rates.

☆ A.I. trade is leaving investors vulnerable to painful losses: Evercore
▼ + stars: | 2023-05-08 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

The artificial intelligence trade may be leaving investors vulnerable to significant losses. Evercore ISI's Julian Emanuel warns Big Tech concentration in the S&P 500 is at extreme levels. Emanuel reflected on "odd conversations" he had over the past several days with people viewing Big Tech stocks as hiding places. "[They] actually look at T-bills and wonder whether they're safe. Interestingly enough, with all of this AI talk, health care and consumer staples have outperformed since April 1," Emanuel said.

☆ A number of outperforming stocks have bucked macro trends, Jim Cramer says
▼ + stars: | 2023-05-08 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Investors should be wary of bearish strategists who opt for a macro view and instead focus on individual companies, CNBC's Jim Cramer said Monday. In a market where idiosyncratic performers are plentiful, following one-size-fits-all macro advice can leave investors confused, Cramer says. Cramer pointed to outsize performers in myriad industries that would have been written off by those same bearish strategists. Investors might expect that industrial and homebuilding stocks would be suffering given the continued rate hikes, Cramer said. But industrial names like General Electric or Cummins have done extremely well, as have housing stalwarts like KB Home and Lennar , Cramer said.

☆ Earnings playbook: How to trade results from Disney and these other names ahead
▼ + stars: | 2023-05-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Tuesday Occidental Petroleum is set to report earnings after the bell. What history shows: Data from Bespoke Investment Group shows Occidental beats earnings expectations 71% of the time. Electronic Arts is set to report earnings after the close, followed by a call at 5 p.m. What history shows: Bespoke data shows Disney beats expectations 78% of the time. However, Disney shares tend to struggle on earnings day, averaging a slight loss after the company posts results.

☆ Bitcoin could rally 40% by the end of the year, according to a top blockchain founder
▼ + stars: | 2023-05-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

A pile of Bitcoin slugs sit in a box ready to be minted on April 26, 2013 in Sandy, Utah. And bitcoin is front-running this scenario, pointing to a future that is effectively a return to relatively low rates. A big reason why bitcoin has performed so well was that it was just really oversold during the collapse of FTX. In such a scenario, all assets would have a correlation of one with each other, including bitcoin and even gold. Big gold buyers like HSBC and JPMorgan have shunned business with Moscow — leaving billions of dollars worth of gold in need of new landing spots.

☆ Warren Buffett's Berkshire Hathaway has been a fortress stock during recessions and bear markets. Here's how
▼ + stars: | 2023-05-05 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Since 1980, Berkshire shares have beat the broader market over the course of six recessions by a median of 4.41 percentage points. The iPhone maker has outperformed throughout the bear market, similarly driving outperformance for Berkshire Hathaway as Apple accounts for roughly 45% of the firm's portfolio, according to CNBC's Berkshire Hathaway portfolio tracker. That has helped Berkshire Hathaway Class A shares climb more than 4% this year. That's who's gotten rich from owning Berkshire Hathaway," said Bill Smead, founder and chairman of Smead Capital Management and a Berkshire shareholder. "People held Berkshire Hathaway to a fault and they got that benefit."

☆ The top commentators in markets say the bank crisis isn't anywhere close to over.
▼ + stars: | 2023-05-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Today we're looking at what some of Wall Street's top investors and commentators say has to happen to curb the banking tumult. The shuttered bank had disclosed in its first-quarter earnings report that customers pulled over $100 billion of deposits in three-months. But even if the regulator did insure more money, former FDIC chair Jelena McWilliams said Thursday a move like that would only cost banks' customers more. A stock market portfolio created by ChatGPT is outperforming the top UK investment funds. Stock market investors should keep an eye out for five key indicators with volatility set to ramp up through the end of the year.

☆ Friday, May 5, 2023: Cramer trims an outperforming name, buys more of this oil stock
▼ + stars: | 2023-05-05 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Friday, May 5, 2023: Cramer trims an outperforming name, buys more of this oil stockJim Cramer and Jeff Marks break down the April nonfarm payrolls report which beat Wall Street expectations. Jim says the Federal Reserve could once again raise interest rates at their next meeting as wage growth remains high. Jim discusses Apple after the company beat earnings and revenue estimates for the first quarter. Finally, Jim shares why he's trimming one outperforming stock in the portfolio to buy more shares of an oil holding he thinks is a bargain right now.

☆ Warren Buffett owns these stocks, and analysts love them too
▼ + stars: | 2023-05-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts are bullish on some of the stocks owned by Warren Buffet's Berkshire Hathaway . Still, some of the "Oracle of Omaha's" stocks are also well liked by analysts on Wall Street. CNBC Pro looked through his portfolio to find companies that met the following criteria: 55% or more of the analysts covering the stocks have a buy rating. Topping the list is Taiwan Semiconductor , with 83% of analysts rating it as buy and the average price target pointing to upside of 25%. The stock has buy ratings from 55.6% of analysts covering it, and the average price target suggests it could go up 40%.

PG YTD mountain Procter & Gamble YTD performance A resilient business and a strong quarter , where organic sales increased 7% and gross margins inflected will do that. In what has been a tough market lately, P & G has held up, thanks to the defensive nature of its business. PXD YTD mountain Pioneer Natural Resources YTD performance With Pioneer, this is our "oily" energy play that now pays out a healthy annual dividend yield of about 6.48%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

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