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☆ SoftBank's Arm set to debut on Nasdaq after biggest IPO since 2021
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 14 (Reuters) - SoftBank's chip designer Arm Holdings (ARM.O) is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a listing drought that lasted for nearly 16 months. Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo. Arm also told investors its royalty fees, which account for most of its revenue, were accumulating since it started collecting them in the early 1990s. Royalty revenue came in at $1.68 billion at the latest fiscal year, up from $1.56 billion a year ago.

Persons: Dado Ruvic, iPhones, it's, Susannah Streeter, Hargreaves Lansdown, Goldman Sachs, JPMorgan Chase, Manya Saini, Niket, Arun Koyyur Organizations: REUTERS, Arm Holdings, Nasdaq, U.S, Apple, Intel, London Stock Exchange, SoftBank, Android, Nvidia, Devices, Broadcom, Qualcomm, Micron Technology, Barclays, JPMorgan, Mizuho Financial Group, Thomson Locations: Samsung's, China, New York, Bengaluru

☆ Language at work is becoming more casual — thanks to Gen Z
▼ + stars: | 2023-09-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

And there is another area of work that is becoming less traditional: language. New research from Barclays LifeSkills found that 70% of Brits noticed language changes at work over the last five years, while 73% said they now communicated less formally. Gen Z, which is defined as people aged 18-24 for the purpose of Barclays' research, appears to be leading the shift. Written communication is one of the impact areas, and some email sign offs could be replaced by more casual phrases, according to the data. and 'thanks so much' were found to be increasingly popular, with 46% and 50% of respondents saying these were friendly responses.

Persons: Gen, Kirstie Mackey Organizations: Barclays LifeSkills, Barclays

☆ TD's US head says money-laundering probe 'manageable'
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - A U.S. probe into Toronto-Dominion Bank's (TD.TO) anti-money laundering compliance program is "manageable, the bank's head of U.S. retail operations said on Wednesday. TD, Canada's second largest lender, disclosed in August it had been cooperating with U.S. authorities, including the U.S. Department of Justice, in an investigation and said it expected fines and non-monetary penalties. The bank called off the deal because of uncertainty about the timing of regulatory approvals, Salom said at a Barclays conference. "We believe that's a manageable item and in the fullness of time we will be able to resolve."

Persons: Chris Wattie, Leo Salom, Salom, Nivedita Balu, Richard Chang Organizations: Dominion Bank, REUTERS, Rights, Dominion, U.S, U.S . Department of Justice, TD Bank, U.S ., Barclays, Thomson Locations: Toronto, Ottawa , Ontario, Canada, U.S, Canada's

The trades - typically the domain of macro hedge funds with relative value strategies - consist of selling a futures contract, buying Treasuries deliverable into that contract with repurchase agreement (repo) funding, and delivering them at contract expiry. "Cash-futures basis positions could again be exposed to stress during broader market corrections," Fed economists said in an Aug. 30 note. Separately, in a Sept. 8 note that looked among other things at hedge funds' Treasury exposures, Fed economists said there was a risk of a rapid unwind of basis trade positions in case of higher repo funding costs. "However, the approach they take may not be straightforward as the Fed does not have direct regulatory oversight over hedge funds," he said. "Cash futures basis trades are vulnerable to two risks: higher margin costs on the futures short and higher financing costs on the cash long position," Barclays said in a note on Tuesday.

Persons: Steven Zeng, Deutsche's Zeng, Davide Barbuscia, Megan Davies, Paul Simao Organizations: Federal Reserve, Treasury, repo, Futures Trading Commission, Deutsche Bank, U.S, Barclays, Thomson Locations: U.S, Treasuries

LONDON (AP) — Global energy giant BP, one of Britain’s biggest and most recognizable companies, is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct. BP conducted an internal review last year after receiving allegations about personal relationships between Looney and other company employees. “The company has strong values and the board expects everyone at the company to behave in accordance with those values,” BP said. Looney had spent his entire career at BP after joining the company as an engineer in 1991. Soon after becoming CEO, Looney set a goal of achieving net zero emissions by 2050 — in line with goals then adopted by the U.K. government.

Persons: Bernard Looney, Looney, Murray Auchincloss, ”, “, Bob Dudley, Harvey Weinstein, Jess Staley, Jeffrey Epstein, Jeff Shell Organizations: —, BP, London Stock Exchange, Greenpeace, Barclays, . Locations: Ukraine

☆ Citi’s big restructuring has a familiar ring to it
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake Acquire Licensing RightsNEW YORK, Sept 14 (Reuters Breakingviews) - Jane Fraser is trying to make history. Citigroup’s (C.N) boss said the shake-up she unveiled on Wednesday is the most “consequential changes” to the organization in 20 years. Citi shares gained less than 2% in a flat market following her presentation at the Barclays Global Financial Services conference. The bottom line is that an investor who put $10 into Citi 20 years ago would have just $1 today.

Persons: Jane Fraser, Mike Blake, Michael Corbat, Vikram Pandit, ballyhooed, Fraser, Corbat, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Citi, Milken, Global Conference, REUTERS, Reuters, Barclays Global Financial Services, JPMorgan, X, Unity, Treasury, UBS, Thomson Locations: Beverly Hills , California, U.S, Asia

☆ These are the most expensive stocks today and analysts hate them
▼ + stars: | 2023-09-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

For investors worried over how expensive the entire stock market has gotten, some stocks are more concerning than others. Among those expensive stocks, we filtered for names that are also hated by analysts because of their valuations. Take a look at the list of Wall Street's 10 most expensive stocks and what analysts have to say about them. Seagate Technology Holdings also made the list of stocks trading more expensive to their historic levels. Only 30% of analysts covering Seagate rate it a buy, and analysts believe the stock run has just about topped out, according to FactSet data.

Organizations: CNBC, Intel, Dow Jones, Investment, Seagate Technology Holdings, Seagate, Barclays, Company, Digital Realty Trust, Business Machines

☆ Wall Street bosses see deal drought easing as IPOs spur optimism
▼ + stars: | 2023-09-12 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

[1/2] Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. Goldman Sachs (GS.N) CEO David Solomon told Reuters in an interview on Tuesday that the optimism that the U.S. economy will avoid a recession is prompting capital markets to reopen. "The environment is definitely better," said Solomon, who noted that Goldman was involved in most of the share offerings. Venkatakrishnan told investors at a conference in New York. The dealmaking slowdown had prompted thousands of layoffs at investment banks, including at Morgan Stanley (MS.N), Goldman Sachs and Citigroup (C.N) in recent months.

Persons: Goldman Sachs, David Solomon, Brendan McDermid, Solomon, Goldman, Instacart, we'll, C.S, Venkatakrishnan, Morgan Stanley's, Dan Simkowitz, BofA, Alastair Borthwick, Morgan Stanley, Tatiana Bautzer, Lananh Nguyen, Mark Porter, Jamie Freed Organizations: Goldman, REUTERS, Reuters, Arm Holdings, underwriters, Barclays, Bank of America, Citigroup, Thomson Locations: New York City, U.S, British, New York

☆ Savings Account and CD Rates Today | Earn Over 5% on Savings and CDs
▼ + stars: | 2023-09-12 | by ( Business Insider | ) www.businessinsider.com time to read: +21 min

Leading High-Yield Savings Account RatesRemember that high-yield savings account rates are variable, so they will change over time. Fees no monthly service fee Annual Percentage Yield (APY) 5.26% Minimum Deposit Amount $1 Pros Check mark icon A check mark. FDIC Insured* Annual Percentage Yield (APY) 5.00% Minimum Deposit Amount $1,000 Pros Check mark icon A check mark. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: Banks, you'd, —, Cash, we've Organizations: FDIC, CIT Bank, Savings, First, Citizens Bank & Trust Company, Federal Deposit Insurance Corporation, Bank & Trust Company, Connect, Barclays, Barclays Bank, Apple, Western Alliance Bank, Mint Western Alliance Bank, Start, Cash, Products, Technology Credit, Pelican State Credit Union, Federal Credit Union, of Commerce Federal Credit Union, Newtek Locations: Axos, —

☆ Barclays CEO expects revival of deals over next months
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNEW YORK, Sept 12 (Reuters) - Barclays Chief Executive Officer C.S. Venkatakrishnan on Tuesday said he is seeing signs investment banking activity will recover. The CEO, speaking at an investment conference hosted by the bank in New York, said the conditions to reactivate M&A deals and share offerings are being met, with more stable markets, bank lending in terms attractive to investors and valuation corrections over the last months. Reporting by Tatiana Bautzer and Niket Nishant; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, C.S, Venkatakrishnan, Tatiana Bautzer, Mark Porter Organizations: Barclays, REUTERS, Thomson Locations: City, London, New York

Like many financial institutions in the current high interest rate environment, Northern Trust is confronting growing financing costs as tries to hold onto deposits. Northern Trust shares sank to $69.81, down more than 9%, to their lowest level since mid-July after Tyler's comments. A Northern Trust spokesperson did not immediately respond to a Reuters request for further comment. Asset and wealth managers, including Northern Trust and peer State Street Corp (STT.N), are seeing a decline in NII as customers move deposits to higher yielding alternatives. In July, Northern Trust reported that its deposits fell by 10% to $91.9 billion in the second quarter, although Tyler said on Tuesday deposits have generally stabilized.

Persons: Jason Tyler, That's, it's, Tyler, Tyler's, Chibuike Oguh, Michelle Price, Mark Potter Organizations: Northern Trust Corp, Barclays, Northern Trust, State Street Corp, Trust, Thomson Locations: New York

☆ JPMorgan's Jamie Dimon warns of recession and rate hikes, flags global dangers, and quotes Warren Buffett twice in a new interview. Here are the 8 best quotes.
▼ + stars: | 2023-09-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Dimon quoted Warren Buffett twice to flag the risks to banks and trumpet prudence in business. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The billionaire banker and JPMorgan CEO also championed prudent risk management, and warned that more lenders could run into problems like Silicon Valley Bank did this spring. If you have that with a recession, yes, you're going to see a little bit more stress and strain in the system." (Dimon was referring to other banks getting caught out by rising interest rates like Silicon Valley Bank.)

Persons: Jamie Dimon, Dimon, Warren Buffett, headwinds, It's, we've, There's, Warren, — he's Organizations: Service, JPMorgan, Bank, Barclays, AlphaSense, Silicon Valley Bank Locations: Wall, Silicon, Ukraine, Silicon Valley

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, CVS, Oracle, Walmart, Meta, Disney and more
▼ + stars: | 2023-09-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest analyst calls: Bank of America reiterates Nvidia as buy The bank is feeling even more bullish on the stock after meeting with Nvidia management at the Bank of America Global AI Conference. Monness Crespi Hardt downgrades Oracle to neutral from buy Monness downgraded Oracle after its earnings report Monday, mainly on valuation. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its latest survey checks show Walmart+ continues to gain traction with consumers. Bank of America upgrades Cintas to buy from neutral Bank of America said the uniform company is "best in breed." Bank of America reiterates Disney as buy Bank of America is bullish on Disney's carriage agreement with cable company Charter.

Persons: NVDA, Monness Crespi Hardt downgrades, Tesla, Morgan Stanley, Wolfe, Berenberg, TD Cowen, Cowen, Mizuho, Coinbase, Riley, Guess, GES, Bernstein, Goldman Sachs, Exxon Organizations: Bank of America, Nvidia, Bank of America Global AI, Monness Crespi Hardt downgrades Oracle, Oracle, RBC, Tesla, Walmart, CVS, Retail, Endeavor, of America, Citi, BRP Inc, Canadian ATV, BRP, Disney, Barclays, U.S, BMO, Adobe Locations: Coinbase, Canadian

☆ Barclays cutting around 450 staff, UK trade union says
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Sept 12 (Reuters) - A British union that represents workers at Barclays (BARC.L) said on Tuesday that the bank was cutting around 450 staff, as the lender cuts costs as it weighs a wider strategy overhaul. The Unite trade union said its members were informed by the bank of the decision. Venkatakrishnan is separately embarking on a wider strategy review, amid some investor dissatisfaction at the bank's underperformance relative to Wall Street investment banks. Reporting by Iain Withers and Muvija M; editing by William James; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Dominic Hook, Venkatakrishnan, Iain Withers, Muvija, William James, Louise Heavens Organizations: Barclays Bank, REUTERS, Barclays, Reuters, C.S, Thomson

☆ Oil prices are pressuring airline stocks. These options trades can take advantage, Barclays says
▼ + stars: | 2023-09-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The spike in oil prices is weighing on airline stocks, and there is still time to for traders to take advantage of that relationship through options trades, according to Barclays. Such underperformance has been worse only 10% of the time in the past 25yrs," the Barclays note said on Tuesday. The options market does not appear to have priced in these risks, Pascale said, so Barclays recommended two short-term trades. This structure would lower the cost of the trade, though it would also limit the upside if the JETS ETF falls below the lower strike price. The Barclays note recommended using $18 and $17 as the strike prices.

Persons: Stefano Pascale, Morgan Stanley, Pascale, CNBC's Michael Bloom Organizations: Barclays, Futures, U.S, Texas, U.S . Global Jets ETF, JETS, Airlines, Tuesday, Delta Air Lines, Morgan, Jet, JETS ETF, DAL Locations: underperform

☆ Oracle tumbles as strong cloud competition, Cerner weakness dent forecast
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. The company was on track to lose about $30 billion in market value, based on its premarket share price of $115. "We continue to believe high single-digit growth might be unsustainable for Oracle given Cerner integration risks and formidable data center competition," D.A. Most analysts, however, were positive on the company and attributed the share price decline to Oracle's rally in the run-up to earnings. But they highlighted strong deferred revenue, AI backlog commentary and some positive signs in the cloud business as positives.

Persons: Dado Ruvic, Safra Catz, D.A, Davidson, Gil Luria, Aditya Soni, Krishna Chandra Organizations: Oracle, REUTERS, Amazon Web Services, Google, Barclays, Thomson Locations: Bengaluru

☆ Oracle's post-earnings slide is 'one of the greatest overreactions' Cramer has seen. Here’s his advice on the stock
▼ + stars: | 2023-09-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

The post-earnings sell-off in Oracle (ORCL) is overdone and a clear-cut buying opportunity, Jim Cramer said Tuesday. Still, Oracle delivered robust growth in cloud-computing services, making the stock's slide Tuesday "one of the greatest overreactions I've ever seen," according to Jim. We recognize the challenges facing other parts of Oracle's business, including Cerner and some of its traditional business software offerings. This mix enables us to view Tuesday's stock decline as another entry point, rather than a reason to walk out the door. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, we've, Cerner, Safra Catz, hasn't, Jim Cramer's, Brendan Mcdermid Organizations: Oracle, Club, Trust, CNBC, UBS, Barclays, Management, Oracle Corporation, New York Stock Exchange Locations: New York City, U.S

☆ GE to sell stake in aircraft leasing provider AerCap
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly Song Acquire Licensing RightsSept 11 (Reuters) - AerCap Holdings NV (AER.N) said on Monday a unit of General Electric Co (GE.N) will sell 32.4 million shares in the aircraft leasing giant through an underwritten public offering. The transaction will be worth $2 billion based on AerCap's closing price, according to LSEG data, and follows a sale by GE of 18 million shares in March. GE said in March 2021 it will "over time" sell its stake - 33.6% as per latest LSEG data - after AerCap bought the conglomerate's aircraft leasing unit in a $30 billion deal. AerCap also agreed on Monday to repurchase 12.2 million shares, worth $750 million. GE Capital US Holdings Inc expects to grant the underwriters a 30-day option to purchase up to 4.9 million additional ordinary shares.

Persons: Aly, AerCap, Goldman Sachs, Morgan, Kannaki, Sriraj Organizations: Electric, GE, Artificial Intelligence, REUTERS, AerCap Holdings, General Electric Co, GE Capital US Holdings Inc, Citigroup, Barclays, BofA Securities, Thomson Locations: Shanghai, China, Dublin, Bengaluru

☆ Bank of America says Q3 investment banking fees down 30%-35% for sector
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America (BAC.N) will fare better than that average, its chief financial officer said on Monday. "We'll do slightly better than that," Alastair Borthwick told the Barclays Financial Services Conference, referring to investment banking fees for the industry. BofA in July posted strong gains for investment banking in the second quarter with net income surging 76% to $2.7 billion. Reporting by Saeed Azhar and Pritam Biswas; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Alastair Borthwick, BofA, Saeed Azhar, Pritam Biswas, Jonathan Oatis, Deepa Babington Organizations: Bank of America, REUTERS, Investment, Barclays Financial Services, Thomson Locations: Manhattan, New York City , New York, U.S

☆ AstraZeneca's Tagrisso-chemo combo results raise bar for J&J cancer drug-analysts
▼ + stars: | 2023-09-11 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

LONDON, Sept 11 (Reuters) - Data released on Monday by AstraZeneca (AZN.L) from a late-stage trial combining its blockbuster cancer drug Tagrisso with chemotherapy to treat a type of lung cancer raises the bar for Johnson & Johnson's (JNJ.N) rival treatment, analysts said. A brief summary from the Phase 3 trial, called FLAURA2, was released in May, and the detailed data was presented on Monday in Singapore at the World Conference on Lung Cancer. The FLAURA2 trial showed that when adding chemotherapy to Tagrisso, the risk of disease progression or death is reduced by 38% when compared to Tagrisso alone. "With the strong FLAURA-2 data in hand and likely included in treatment guidelines soon, the hurdle is now pretty high in our view for MARIPOSA," the UBS note read. Barclays analysts said the FLAURA2 trial data presented on Monday included doctor and patient surveys that showed a strong preference for the convenience of a single therapy compared with combinations.

Persons: Johnson, Pascal Soriot, Michel Demare, Soriot, Maggie Fick, Emelia Sithole Organizations: AstraZeneca, Lung Cancer, Barclays, UBS, Reuters, Thomson Locations: Singapore, British, MARIPOSA

[1/2] A man walks in front of the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 12 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. They now expect the central bank's 'yield curve control' policy to end in October, compared with April 2024, and for the negative interest rate policy to end in January 2024, versus December 2024. Beyond the Japanese policy drama, investors will also have the latest Indian inflation and industrial production data, and Australian business and consumer sentiment figures to digest on Tuesday. The currency is getting little support from the interest rate outlook - economists currently expect the RBI to keep rates on hold then start easing policy the second quarter of next year.

Persons: Issei Kato, Jamie McGeever, Kazuo Ueda, Josie Kao Organizations: Bank of Japan, REUTERS, of, Government Bond, Barclays, Deutsche Bank, Reserve Bank of India's, Bank, Thomson, Reuters Locations: Tokyo, Japan, Indonesian, Philippine, India, Australia, Korea

☆ Barclays CEO Venkatakrishnan: Financial assets are relatively stable
▼ + stars: | 2023-09-11 | 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 EmailBarclays CEO Venkatakrishnan: Financial assets are relatively stableBarclays CEO C.S. Venkatakrishnan joins 'Squawk on the Street' to discuss the company’s new credit card partnership with Xbox, the state of the banking industry, and more.

Persons: Venkatakrishnan Organizations: Barclays, C.S, Xbox

☆ Here's what Wall Street expects from the Apple iPhone event Tuesday and its meaning for the stock
▼ + stars: | 2023-09-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Apple's launch event, during which it's expected to introduce the iPhone 15 and Apple Watch Series 9, comes amid a tough backdrop for the stock in recent sessions. Long expects a $50 to $100 increase for the iPhone 15 Pro and a $100 to $200 hike for the Pro Max model. What it means for Apple shares Looking ahead, Wall Street sees a positive setup for Apple shares over the long term, but those tailwinds could take time to play out. AAPL YTD mountain Apple shares since the start of 2023. Data analyzed by Bernstein shows a similar pattern for Apple shares before and after a launch event.

Persons: Morgan Stanley, Erik Woodring, Tim Long, Long, CFRA's Angelo Zino, Jefferies, Andrew Uerkwitz, referringto, it's, Wamsi Mohan, Morgan Stanley's Woodring, Bernstein, Toni Sacconaghi, Woodring, Apple, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Apple, Barclays, Apple Watch, Pro, Apple Vision, Bank of America, outperformance Locations: China, U.S

☆ GE to sell $2.44 bln stake in aircraft leasing provider AerCap
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

AerCap said GE Capital U.S. Holdings will sell about 40.7 million shares of the company at $59 per share. The offering was upsized from the previously announced 32.4 million shares. The transaction follows a sale of 18 million shares by GE in March. In March 2021, GE said it would "over time" sell its stake - 33.6% as per latest LSEG data - after AerCap bought the conglomerate's aircraft leasing unit in a $30 billion deal. AerCap also agreed on Monday to repurchase about 15.3 million shares, worth about $878 million, at $57.53 per share.

Persons: Aly, AerCap, Goldman Sachs, Morgan, Kannaki Deka, Sriraj Kalluvila Organizations: Electric, GE, Artificial Intelligence, REUTERS, AerCap Holdings, General Electric Co, GE Capital U.S . Holdings, GE Capital, underwriters, Citigroup, Barclays, BofA Securities, Thomson Locations: Shanghai, China, Dublin, Bengaluru

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more
▼ + stars: | 2023-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "

Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America

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