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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe continue to invest in China's domestic consumption story and prefer the leisure & travel sectorsAlexander Treves from J.P. Morgan Asset Management breaks down China's import and export numbers and explains the firm's investment position in China.
Persons: Alexander Treves Organizations: Morgan Asset Management Locations: J.P, China
Morgan Stanley reiterates Walmart as overweight Morgan Stanley said it's still bullish heading into Walmart earnings Aug. 17. Deutsche Bank reiterates Estée Lauder as buy Deutsche Bank said it sees a "difficult" quarter when Estée Lauder reports earnings next week. Citi opens a negative catalyst watch on Spirit Airlines Citi opened a negative catalyst watch on the discount airline and said it sees a "bumpy ride" to gain regulatory approval for the merger with JetBlue. Citi reiterates TJX Companies as buy Citi said it's bullish heading into earnings next week. JPMorgan downgrades Freshpet to neutral from overweight JPMorgan said it downgraded Freshpet mainly on valuation.
Persons: Tesla, We'll, Truist, DraftKings, Ralph Lauren, Morgan Stanley, it's, Fisker, Estée Lauder, Telsey, JPMorgan Organizations: BMO, Adobe, Bank of America, of America, Management, Walmart, UW, Deutsche Bank, Citi, Spirit Airlines Citi, JetBlue, Watch, JPMorgan, Boston, Networks, Disney, UBS, Apple, FX, TJX Companies, Cellular, USM, US Cellular Locations: China, Orlando
Siemens Energy’s flop puts brakes on green race
  + stars: | 2023-08-07 | by ( ) www.reuters.com   time to read: +2 min
An offshore wind turbine of the Siemens Gamesa company is seen from the Telde coast on the island of Gran Canaria, Spain, May 2, 2022. REUTERS/Borja SuarezLONDON, Aug 7 (Reuters Breakingviews) - Siemens Energy’s (ENR1n.DE) growing wind woes will have wider repercussions. The $13 billion German group unveiled on Monday a 2.2 billion euro ($2.4 billion) charge because of quality issues linked to its troubled wind turbine unit Siemens Gamesa. A previous profit warning in June, also linked to malfunctioning turbines, erased a third of Siemens Energy’s stock market value. Bruch says he is now prioritising the profitability of Siemens Gamesa, implying a pause over plans to add more wind capacity.
Persons: Borja Suarez, Jefferies, Siemens Gamesa, Reuters Breakingviews, Christian Bruch, Bruch, Yawen Chen, headwinds, Lisa Jucca, Oliver Taslic Organizations: Siemens, Gran Canaria, REUTERS, Borja Suarez LONDON, Reuters, Siemens Energy, Investors, Siemens Gamesa, JPMorgan, Global, Twitter, Thomson Locations: Gran, Spain, Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Gabriela Santos says the odds of a soft landing have risenGabriela Santos, JPMorgan Asset Management global market strategist, joins 'Closing Bell' to discuss her expectations for the upcoming CPI report.
Persons: JPMorgan's Gabriela Santos, Gabriela Santos Organizations: JPMorgan Asset Management
Morgan Stanley has decided to take a break, downgrading MSCI China to equal weight while recommending a few consumer and industrial names. The Politburo meeting signaled policy easing, but outstanding issues — of debt, property, jobs and geopolitics — need significant improvement for sustainable inflows, the Morgan Stanley analysts said. Morgan Stanley has so far only changed it once this year: a cut in July to 5%. And despite their downgrade of Chinese stocks, the analysts added two mainland-traded A shares to their focus list. In its latest report, Morgan Stanley analysts also turned overweight on India.
Persons: Morgan Stanley, Laura Wang, Fran Chen, Wood, Warren Buffett, behemoth BlackRock, Biden, Liqian Ren, Ren, Hang Seng, Jack Ma's Alibaba, Morgan Stanley's, Morgan, WisdomTree's Ren doesn't, Ren doesn't, Michael Bloom Organizations: U.S, Chinese Communist Party, China ETF, WisdomTree Trust, Owned Enterprises ETF, Wall, JPMorgan, Baidu, State, Owned Enterprise Fund, Ping An Insurance Locations: China, . U.S, WisdomTree, WisdomTree Trust China, Morgan, Morgan Stanley's China, Hong Kong, India
Women's World Cup live streams are plenteous now that the round of 16 is finally here. How to watch USA vs. Sweden free live stream from anywhereWhile various countries offer free Women's World Cup live streams (more options are popping up with the round of 16 and heading into finals brackets), most only provide them for select games. ITVX will stream USA vs. Sweden online for free for everyone. How to watch USA vs. Sweden Women's World Cup with a VPNSign up for a VPN if you don't have one. How to watch USA vs. Sweden live streams in the USAFox and Fox Sports 1 have the English language streaming and broadcast rights to the US Women's World Cup live streams.
Persons: Alex Morgan, Megan Rapinoe, ExpressVPN, Peacock Organizations: USA, Fox, US Women's, USA Fox, Fox Sports, Telemundo, FIFA, FOX, BBC Locations: Sweden, USA, England, Nigeria, BBC Australia, Denmark, Colombia, Jamaica, ITVX France, Morocco
Goldman gets paid through management and incentive fees, which swell as funds attract more assets. Altogether, Goldman has $2.71 trillion in assets under supervision as of June 30, which includes wealth management assets. What about wealth management? The bank has more than $1 trillion in wealth management client assets. While Solomon cautioned that Goldman's "asset management journey" would take two to three years before meaningfully helping margins, he sounded optimistic.
Persons: David Solomon, Goldman Sachs, The Beverly Hilton, Michael Kovac, Goldman, Morgan Stanley, it's, That's, Solomon, he's, He's, Salisbury, Sarsfield Organizations: Milken Institute Global, The Beverly, The Beverly Hilton Hotel, Getty, JPMorgan Locations: Beverly Hills , California, U.S
FILE PHOTO-A woman walks past a Credit Agricole logo outside a bank office in Reze near Nantes, France, May 12, 2021. The results boosted Credit Agricole SA's (CAGR.PA) stock, which was up by about 5% at 0817 GMT, making it the best performer within France's blue-chip index CAC 40 (.FCHI). Helping the positive sentiment, the investment vehicle of the mutual banks that control Credit Agricole said it would spend 1 billion euros on the bank's shares, further tightening its grip on the lender. The vehicle currently owns 60.2% of Credit Agricole SA and said it had no intention to go beyond 65%. Degroof Petercam has client assets of 71 billion euros, while Indosuez said it had assets under management of 130 billion euros at the end of 2022.
Persons: Stephane Mahe, Degroof, France's, JP Morgan, Degroof Petercam, Indosuez, Xavier Musca, Musca, Mathieu Rosemain, Geert de Clercq, Piotr Lipinski, Ingrid Melander, Augustin Turpin, Alexander Smith Organizations: REUTERS, Agricole, CAC, PARIS, Credit Agricole, Credit Agricole SA, Royal Bank of Canada, Barclays, Credit Agricole's, Indosuez, KBC, Thomson Locations: Reze, Nantes, France, Belgian
Bitcoin is up more than 75% this year, but the market capitalization for stablecoins has dwindled during the same period. "This is unusual as often the market capitalization of stablecoin increases during rallies and decreases during downturns, matching the trend of the overall crypto market," JPMorgan analyst Steven Alexopoulos said in a note Thursday. "An explanation for the decline of the stablecoin market may be due to investors preferring the higher returns of bitcoin and Ethereum or even traditional assets (benefiting from a rise in interest rates)." In July, it hit an all-time high of $83.8 billion and now accounts for 68.5% of the overall stablecoin market. Tether's prominence Instead of focusing on declines in USDC, investors could point to Tether's growth as evidence of stablecoin inflows, for example.
Persons: Bitcoin, Steven Alexopoulos, bitcoin, USDC, Steven Lubka, Swan, David Wells, Coinbase, Lubka, Michael Bloom Organizations: U.S ., JPMorgan, Drivers, Bank, U.S, Services, Enclave Markets, U.S . Securities, Exchange Commission Locations: New York, Silicon, SVB, U.S, USDC
Florida State University has been working with JPMorgan as it explores options to bring in funding from institutional investors, according to a person familiar with the matter. The discussions have been ongoing in recent months, and Sixth Street Partners has expressed interest as an investor, the person said. The discussions with potential equity investors are not tied to FSU's potential push to leave the conference, according to the person familiar with the matter. Sportico earlier reported that FSU was working with JPMorgan and that Sixth Street was part of the discussions. "That effort fell apart, mainly because it was a challenge to mesh private investors with the potential media rights for public schools," said sports media consultant Lee Berke.
Persons: Lee Berke, we're, Berke Organizations: Florida State University, JPMorgan, Sixth Street Partners, Atlantic Coast Conference, NCAA, FSU, Sixth, ACC, Southeastern Conference, ESPN, Media
Spirit AeroSystems resumes slide, sinks another 4%
  + stars: | 2023-08-03 | by ( Valerie Insinna | ) www.reuters.com   time to read: +3 min
A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. Spirit said it burned through $211 million of cash in the second quarter, adding that cash flow will not recover until the 2024-2025 time period. Analysts questioned whether Spirit would have to renegotiate labor contracts with Boeing and Airbus. Seifman said it is unclear what Boeing will do to help Spirit improve its financial health. "We instead believe Boeing and Airbus are likely to continue to contribute customer advances, allowing Spirit to benefit only as production rates improve," he said.
Persons: Benoit Tessier, Michael Ciarmoli, Morgan, Seth Seifman, Seifman, Ken Herbert, refinance, Cowen, Cai Von Rumohr, Refinitiv, Valerie Insinna, Marguerita Choy Organizations: Boeing, International Paris Air, Le, REUTERS, Airbus, Management, Truist Securities, RBC Capital Markets, Thomson Locations: Le Bourget, Paris, France
PayPal stock drops as weak margins fan growth fears
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Shares of PayPal Holdings (PYPL.O) fell more than 8% in premarket trading on Thursday as weak second-quarter margins at the digital payments firm overshadowed a strong forecast. The company said higher provisions at its credit portfolio hit margins and that it had tightened underwriting standards on loans. The San Jose, California-based company reported second-quarter adjusted operating margins of 21.4% after markets closed on Wednesday. Profit margins at PayPal have come under scrutiny in recent months. While its low-margin businesses like Braintree have shown strong growth, higher-margin business like the PayPal-branded checkout platform have shown slower growth.
Persons: Dado Ruvic, Edward Jones, Logan Purk, Dan Schulman, Schulman, J.P, Morgan, Tien, tsin Huang, Niket, Nivedita Organizations: PayPal, REUTERS, PayPal Holdings, Thomson Locations: San Jose , California, Braintree, Bengaluru
PayPal — Shares declined more than 8% after the company posted earnings that were in line with analysts' predictions Wednesday post market. Revenue came in higher than anticipated, with PayPal posting $7.29 billion, versus analysts' estimates of $7.27 billion. Clorox — The household good manufacturer's shares jumped nearly 7% after posting an earnings and revenue beat in the second quarter. Qorvo — The stock rallied 6.8% after the company beat analyst expectations on top and bottom lines in the second quarter. Unity Software — The software company surged about 5% after Unity exceeded analysts' estimates for revenue in the second quarter.
Persons: Jefferies, Albemarle, Roku, Clorox, Qorvo, FactSet, , Alex Harring, Sarah Min, Jesse Pound Organizations: Qualcomm, Refinitiv, Deutsche Bank, JPMorgan, UBS, Moderna, Southwest Airlines —, PayPal —, Refinitiv . Revenue, PayPal, Citi, Management, Apple, Unity Software, Technology, BMO Capital Markets
Deutsche Bank is moving to the sidelines on Qualcomm as a slump in the smartphone market puts pressure on the company. Analyst Ross Seymore downgraded the chipmaker's stock to hold from buy and cut his price target by $10 to $120. For the fiscal third quarter quarter, the company posted $8.44 billion in adjusted revenue, while analysts polled by Refinitiv forecasted $8.5 billion. J.P. Morgan analyst Samik Chatterjee maintained his overweight rating on Qualcomm, but lowered his December 2024 price target by $11 to $148. UBS analyst Timothy Arcuri maintained his neutral rating and $130 price target on the company.
Persons: Ross Seymore, Seymore, Meta —, Morgan, Samik Chatterjee, Timothy Arcuri, — CNBC's Michael Bloom Organizations: Deutsche Bank, Qualcomm, Apple, Huawei, Refinitiv, Meta, Edge, UBS Locations: Wednesday's, IoT
Infineon shares slump on Q4 warning, eyes Malaysia expansion
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +3 min
Infineon forecast revenue of around 4 billion euros ($4.37 billion) in the fourth quarter, below expectations of 4.14 billion euros, according to IBES data from Refinitiv. The company, however, confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%. MALAYSIA FACTORYInfineon said it will invest 5 billion euros over the next five years to build a power chip plant in Malaysia, on top of the 2 billion euros investment it had planned last year. For the full year, Infineon expects investments amounting to approximately 3 billion euros.
Persons: Robert Habeck, Annalena Baerbock's, Annegret, Gartner, Jochen Hanebeck, Infineon's, China's Cherry, Miranda Murray, Christina Amann, Friederike Heine, William Mallard, Kim Coghill Organizations: Infineon Technologies, REUTERS, Infineon, AMD, Qualcomm, JPMorgan, Semiconductor, MALAYSIA, Ford, SAIC, Thomson Locations: Dresden, Germany, Malaysia, Refinitiv, Infineon's, Villach, Austria, German
United States' goalkeeper Alyssa Naeher (L) makes a save during the match against Portugal in Auckland on August 1. Saeed Khan/AFP/Getty ImagesThe US was a post width away from exiting the Women’s World Cup at the group stage, but survived a late scare to earn a goalless draw against Portugal and reach the last 16. Defeat for the US – a team aiming for a third consecutive world title – would have ended its participation in the tournament. It is the first time in the history of the competition that the US has won just one group stage match. This team gave everything, we just didn’t put the ball in the back of the net.
Persons: Alyssa Naeher, Saeed Khan, Ana Capeta, , Alex Morgan, didn’t, ” Morgan Organizations: Portugal, Getty, US, FIFA Locations: United States, Auckland, AFP, Netherlands, Vietnam, Sweden, Australia, New Zealand
Ahead of Club name Apple 's (AAPL) second-quarter results Thursday, some on Wall Street have warned the company could be weighed down by weakening iPhone sales. Analysts on Wall Street estimate $81.7 billion in sales, which would constitute a roughly 2.3% annual decline, according to FactSet. The country has become one of the top-five iPhone markets over the past quarter for Apple, according to Counterpoint Research. In a note to clients last week, Morgan Stanley forecasted that India could comprise 15% of Apple’s revenue growth over the next five years. Still, Wall Street is torn over iPhones sales and whether they will come in softer on Thursday.
Persons: Steve Cook, Cook, Morgan Stanley, Wells, we’re, we're, We're, hasn't, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Big Tech, JPMorgan, Tech, Research, CNBC, UBS, Bloomberg, U.S, Major League Soccer, Nurphoto, Getty Locations: India, China, Hong Kong, Taiwan, Americas, Europe
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays Locations: Apple's, Tuesday's, Asia
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Early moves in U.S. financial markets on Wednesday indicated some aversion to riskier assets as investors assessed the impact of the surprise downgrade. The dollar climbed 0.2%, after slipping broadly in the wake of the downgrade. "Investors have lived through the S&P downgrade in 2011 and remember coming away unscathed. "We see the market impact from the downgrade news as ultimately limited, and Friday's jobs report could trump the downgrade news as monetary policy is still the dominant driver for yields."
Persons: Brendan McDermid, Steven Zeng, Jay Barry, Data, J.P.Morgan, Fitch, Goldman Sachs, Jan Hatzius, Moody's, Susan Mathew, Saumyadeb Organizations: New York Stock Exchange, REUTERS, P Global, Nasdaq, Treasury, Fitch, Deutsche Bank, Federal Reserve, Gross, AAA, Aaa, U.S ., U.S, Thomson Locations: New York City, U.S, Bengaluru
AMD may be nearing the end of its rally, according to some Wall Street analysts. Following the earnings report, Bank of America reiterated its neutral rating on the stock while lifting its price target by just $2 to $132. Although the firm raised its price target to $115 from $110, it still remains 2.2% below Tuesday's close. We also thought investors would eventually tire of the expensive valuation of AMD stock and we were wrong on that count as well. AMD shares gained 1.2% Wednesday during premarket trading.
Persons: Vivek Arya, Harlan Sur, Sur, Ross Seymore, Goldman Sachs, Toshiya Hari, Morgan Stanley, doesn't, Joseph Moore, Moore, Christopher Danely, Danely, , Michael Bloom Organizations: AMD, Bank of America, JPMorgan, Deutsche Bank, Data, Citi Locations: 2H23
Hugo Boss stays strong in tough China, U.S. markets
  + stars: | 2023-08-02 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Hugo Boss store is seen in Polanco in Mexico City, Mexico May 20, 2017. Its business in EMEA and the Americas benefited from a pick-up in tourism, Hugo Boss said, while currency-adjusted revenue in China increased 56% from a year earlier, making the Asia-Pacific region the strongest for the company. The company expects its annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss forecasts its 2023 operating profit to grow 20% to 25% to a level of 400 million to 420 million euros, versus its prior range of 10% to 20%. Shares of Hugo Boss were seen up 0.7% in early Frankfurt trade.
Persons: Hugo Boss, Henry Romero, Hugo, JP Morgan, Linda Pasquini, Milla Nissi, Christopher Cushing Organizations: REUTERS, U.S, Group, Thomson Locations: Polanco, Mexico City, Mexico, China, Asia, EMEA, Americas, Pacific, Frankfurt, Gdansk
Even in a year with a huge tech stock rally, Columbia Global Technology Growth Fund (CTYRX) stands out for its outsized gains. The final bucket in the portfolio is value opportunity names, or stocks that Narang and his team believe have valuations cheaper than the entire portfolio. He cited data from Alliance Bernstein showing that tech stocks in the most expensive and least expensive quintiles tend to outperform historically — suggesting the attraction of a balanced approach. "Returns seesaw between growth and value over various periods of time," he added, noting this year's growth-oriented tech rally after last year's drubbing. Global mandate Over the last 11 years managing the fund, Narang called its "global mandate" both the biggest challenge and opportunity for him.
Persons: Rahul Narang, Narang, we're, It's, Bernstein, Morningstar Organizations: Columbia Global Technology Growth, Nasdaq, Morningstar . Columbia Management, California Polytechnic State, JPMorgan, Microsoft, Nvidia, Broadcom, Columbia, chipmakers, NXP Semiconductors, Taiwan Semiconductor Manufacturing Co, Samsung Locations: Morningstar, India
HONG KONG, Aug 1 (Reuters) - Shares of debt-laden Chinese property giant Country Garden (2007.HK) fell on Tuesday after it scrapped a share placement to raise $300 million, citing "internal considerations" though bookrunners said the sale was fully covered. Shares and bonds in Country Garden have come under pressure recently due to liquidity concerns, and investors were worried about further contagion in a sector that has already seen many firms default. Country Garden did not immediately respond to a request for comment. At 0220 GMT, shares of Country Garden were down 3.8% to HK$1.52, narrowing losses from 10.8% in early trading. Country Garden had nearly $4.9 billion of bond payments to make over the next 6 months, JP Morgan analysts said in a report last week.
Persons: bookrunners, JP Morgan, Morgan, Clare Jim, Scott Murdoch, Summer, Jacqueline Wong, Kim Coghill, Simon Cameron, Moore Organizations: HK, Mainland Properties, Reuters, Thomson Locations: HONG KONG, HK, Hang
CNN —After the thrill of winning successive Women’s World Cup titles, the 2023 tournament – so far – has brought the US team very much down to earth with a bump. For a team that has been so historically dominant at the Women’s World Cup, performances throughout the 2023 edition so far have been underwhelming for women’s soccer’s most dynastic team. Fans of the US team get ready for the Women's World Cup group game against Portugal. 3 ranked in the world by FIFA, has plenty of World Cup history. Sweden drew with the US in 2015 and also beat them in 2011 – the last time any team defeated the USWNT inside regulation at a World Cup.
Persons: Ana Capeta’s, Vlatko Andonovski, , Julie Foudy, Buda Mendes, Alex Morgan, ” Morgan, Thailand’s, , Megan Rapinoe, Morgan, Andonovski, Mallory Swanson, Tobin Heath, Sam Mewis, Catarina Macario, Becky Sauerbrunn, Abby Dahlkemper, Andrew Cornaga, Trinity Rodman, Carli Lloyd, ” Lloyd, Crystal Dunn, Lloyd, ” Andonovksi, , Rebecca Welch, Rose Lavelle, Lavelle, Saeed Khan, Cristiano Ronaldo, Sophia Smith, we’ll, Lindsey Horan, ” Andonovski, “ We’re Organizations: CNN, TNT, US, National, Getty, Portugal, New Zealand, Canada, Tokyo, Christen Press, Vietnam, Professional, Chicago Bulls, New York Yankees, Los Angeles Lakers, Boston Celtics, Montreal Canadiens, UEFA, Leagues, , Sweden, FIFA Locations: Portugal, Buda, Thailand, Netherlands, Vietnam, England, New, New Zealand, Sweden, Spain, Auckland, Wellington, AFP, Real Madrid
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