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Read previewAbout a year ago, I signed up for an American Express checking account. I canceled my American Express Rewards checking account just a year after opening. It came as a shock to me that it wasn't available with an Amex checking account and defeated a large purpose of opening this account. It was hard to deposit and transfer moneyAmerican Express makes it incredibly difficult to fund the Amex Rewards checking account. The APY wasn't competitiveBecause of its limited functionality, I ended up using my Amex Rewards checking account as a sort of savings account.

Persons: —, Bill Organizations: Service, Business, American, Express, American Express, Capital

☆ The market's version of a 'quickie' divorce is getting more complex and costly
▼ + stars: | 2024-03-09 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +3 min

One time-honored corporate M&A prenup strategy, which could become more important going forward, is the use of break-up fees, also known as termination fees. In addition to reverse termination fees, companies are also allowing for longer timelines and more extensions than they were a few years ago, Thomas said. Not all deals include break-up fees for regulatory failures. Meanwhile, Visa's deal for Plaid was scuttled in 2021 due to regulatory snares, with neither of the companies owing break-up fees. A 2022 study by investment bank Houlihan Lokey shows that 57.1% of the 140 transactions reviewed had reverse breakup fees, with median fees of 4.2% as a percentage of transaction value.

Persons: Thomas, Houlihan Lokey, Pitchbook Organizations: Crowell, Moring, Discover Financial, Plaid, Regulators, Federal Trade Commission, Department

☆ President Biden wants higher taxes on Corporate America's stock buybacks
▼ + stars: | 2024-03-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

President Biden wants to increase the taxes on those buybacks. Corporations prefer stock buybacks Corporate America has wide latitude on what it does with the cash flow it generates. Excess cash will typically fall into three buckets: buybacks, dividends and capital expenditures. Capital expenditures $597 b. "However, if economic growth momentum instead continues to build, investors may begin to increasingly reward companies that are investing for growth," Goldman said.

Persons: Biden, Goldman Sachs Jeffrey Yale Rubin, Goldman Sachs, Goldman, Tesla, Meta, Biden's, Howard Silverblatt, Silverblatt Organizations: America, buybacks, Birinyi, P Global Locations: buybacks, America

☆ The rise of 'zombie' VCs puts startups that took funding from them in a difficult spot
▼ + stars: | 2024-03-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

What's on deckAdvertisementBut first, zombie, zombie, zombie-ie-ie-ie. AdvertisementThat's why zombie VCs pose such a problem for the industry. Sussing out the prudent investor from the penniless one takes time and effort, two things startups can't necessarily afford when times are tough. AdvertisementIs having a zombie VC as an investor the equivalent of a scarlet letter? If a partner jumps ship from a zombie VC, startups they backed will be in a tough spot.

Persons: —, here's, Insider's Ben Bergman, Ben, it's, Alyssa Powell, Morgan Stanley, Goldman Sachs, Ray Dalio isn't, Sundar Pichai, Marissa Mayer, Yahoo's, Cory Doctorow, He's, Smashmallow, they've, Jack Teixeira, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, BI, Bridgewater, Bank of America, Trading, Google, Canadian, Singapore Locations: There's, Silicon Valley, British, Singapore, Israel, New York, London, Chicago

☆ Coterra uses its flexibility to deliver what matters most to investors in energy
▼ + stars: | 2024-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Coterra Energy slightly missed earnings expectations on Thursday, but the oil and natural gas producer delivered where it matters most: free cash flow. This new era rewards the energy players that focus on dividends and buybacks, both of which depend on strong, consistent cash flow production. And Coterra delivered, with beats on discretionary and free cash flow. Though the discretionary cash flow guide is disappointing, the ultimate impact is mitigated by this flexibility because it allows for the most efficient use of cash. A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019.

Persons: Coterra, Tom Jorden, Marcellus, Jim Cramer's, Jim Cramer, Jim, Angus Mordant Organizations: Energy, LSEG, Coterra, Management, CNBC Locations: Loving County , Texas, U.S

☆ Rivian's CEO can't seem to give a clear answer whether the company has enough money to build its next vehicle
▼ + stars: | 2024-02-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Rivian CEO RJ Scaringe skirted questions on whether the EV maker has enough cash to produce the R2. Scaringe told CNBC he's "confident" in the capital Rivian has through 2025. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Rivian reported a loss of $5.4 billion in 2023 despite delivering twice as many EVs compared to the previous year.

Persons: RJ, Scaringe, CNBC he's, —, Rivian Organizations: CNBC, Service, EV, Bloomberg Locations: Rivian

☆ Dealmaking is showing signs of life, but it comes with some downsides
▼ + stars: | 2024-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why M&A could be staging a comeback and which bankers made the most of 2023 . The big storyDealmaker's delighttatomm/iStock, Tyler Le/BIThree monster deals announced in less than a week has Wall Street wondering: Is M&A back? But after a dreadful 2022 and 2023, dealmaking is showing signs of life, Business Insider's Theron Mohamed writes. Capital One, Truist, and Walmart announced acquisitions totaling $53 billion this week, leaving bankers hopeful the good times (and fees) are back. Deals represent an exit opportunity for companies, giving their investors (some of whom are employees) a chance to cash out.

Persons: Tyler Le, Theron Mohamed, Biden, Alex Morrell, Reed Alexander, Alyssa Powell, Emily Stewart, Wall, it's, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Goldman Sachs, Carlos Delgado, Associated Press Rivian, Rivian, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Federal Reserve, Walmart, Activision Blizzard, ExxonMobil, Cisco, Acquisitions, Activision, Wall Street, Big Tech, Nvidia, ING, Microsoft, Associated Press, BI, Google, Walgreens, Sunshine State, CVS, Intuit, Nestle, Square Locations: Europe, Florida, VillageMD, New York, London

☆ Here's why Capital One is buying Discover in the biggest proposed merger of 2024
▼ + stars: | 2024-02-21 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

It's a chess move by one of the savviest long-term thinkers in American finance, Capital One CEO Richard Fairbank. Fairbank, who became a billionaire by building Capital One into a credit card giant since its 1994 IPO, is betting that buying rival card company Discover will better position the company for global payments' murky future. The deal, if approved, enables Capital One to leapfrog JPMorgan as the biggest credit card company by loans, and solidifies its position as the third largest by purchase volume. By 2027, the bank expects to add at least $175 billion in payments and 25 million of its cardholders onto the Discover network. The Discover network alone would be worth up to $6 billion if sold to Alphabet, Apple or Fiserv , Sakhrani wrote Tuesday in a research note.

Persons: Richard Fairbank, Marvin Joseph, It's, Fairbank, Sanjay Sakhrani, Sakhrani Organizations: Washington Post, Getty, Capital, Discover Financial, U.S, JPMorgan Chase, Independence, Discover, JPMorgan, Visa, Mastercard, American Express, One's, PayPal Locations: Wall, U.S

☆ Jim Cramer says buy Capital One stock after blockbuster deal for Discover
▼ + stars: | 2024-02-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Walmart : The largest U.S. retailer reported a strong holiday quarter Tuesday, with sales rising 6% in three months ended Jan. 31. The decline comes after Walmart announced a deal to acquire TV maker Vizio for $2.3 billion. "I would point out, just so people know," that Walmart says the deal is slightly dilutive to near-term earnings per share, "which surprised me," Jim said. Capital One : The company on Monday announced an all-stock deal , valued at $35.3 billion, to acquire credit card rival Discover Financial Services . "Buried within Discover is a payments system that may be unrivaled, that [Capital One CEO] Richard Fairbank can put to work," Jim said, reiterating his call to buy Capital One stock into Tuesday's weakness.

Persons: Wall, Jim Cramer, Jim, Doug McMillon, Richard Fairbank Organizations: Walmart, Intel, Science, AMD, Discover Financial Services, Capital Locations: U.S, California

☆ Stocks making the biggest moves midday: Nvidia, Walmart, Discover Financial and more
▼ + stars: | 2024-02-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Semiconductor stocks — Popular semiconductor stocks declined during midday trading, with Nvidia dropping more than 6% ahead of its Wednesday print. Walmart — Shares climbed more than 3% and notched a new all-time high on Tuesday following the retailer's earnings report . Discover Financial — Shares of the credit card issuer soared 14% after it agreed to be acquired by Capital One Financial in a $35.3 billion all-stock deal. The Wall Street firm said investors should take some profits after the stock rallied more than 25% over the past year. Medtronic — Shares advanced 2.5% after the medical device company surpassed Wall Street estimates for both top and bottom lines in its fiscal third quarter.

Persons: Rosenblatt, Vizio, Bernstein, Medtronic, Piper Sandler, Yun Li, Alex Harring, Jesse Pound, Tanaya, Hakyung Kim, Brian Evans Organizations: Semiconductor, Nvidia, Computer, Micro Devices, Marvell Technology, Walmart, Discover, Capital, Caterpillar —, Depot, Barclays — U.S, Barclays, Alaska Air, Southwest Airlines, Deutsche Bank, Wall, FactSet, Foods, Arm Holdings Locations: U.S, British

Capital One plans to acquire Discover in an all-stock deal valued at $35.3 billion, pending approval. On Monday, Capital One Financial announced its plans to buy Discover Financial Services. Here's what you need to know about the deal and what it could mean for current Capital One and Discover customers. Capital One credit cards are part of the Visa and Mastercard credit card networks. The Wall Street Journal reports that Capital One is planning to switch some of its credit cards to the Discover network.

Persons: —, Simon Blanchard, Alvin Carlos Organizations: Discover, Service, Financial, Discover Financial Services, Capital, Visa, Mastercard, Georgetown University's McDonough School of Business, Street Journal, CFA, CFP, District Capital Management

☆ Stocks making the biggest moves premarket: Home Depot, Walmart, Intel, Arm Holdings and more
▼ + stars: | 2024-02-20 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Rosenblatt's price target is now the highest forecast for the stock on Wall Street. Caterpillar — Shares pulled back 2% following a downgrade to in line from Evercore ISI, which noted concern over a longer-than-expected outlook for earnings growth. Analyst Brian Mullan hiked his price target on US Foods to $59 from $45, or roughly 19% upside from Friday's closing price of $49.58. Capital One stock pulled back more than 4%. Arm Holdings — Stock in the chipmaker slid about 4% as investors pulled back bets on the stock after its massive rally .

Persons: Rosenblatt, FactSet, Piper Sandler, Brian Mullan, Biden, — CNBC's Pia Singh, Sarah Min, Michelle Fox, Jesse Pound Organizations: Walmart, LSEG, Revenue, Caterpillar —, ISI, Foods, Intel —, Bloomberg, Discover Financial, Capital, Arm

☆ The odds of no interest-rate cuts in 2024 are growing
▼ + stars: | 2024-02-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today’s big story, we’re looking at the chances of there being no rate cuts this year, and how the markets would react. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyCuts are canceledAaron Schwartz/Xinhua via Getty ImagesDon't count your chickens before they hatch and don't price in your rate cuts before they materialize. Last December, Fed Chair Jerome Powell signaled that three cuts were on the table for 2024, which he reiterated earlier this month. AdvertisementBonds could struggle, though, with further delays on rate cuts raising the risk that debt markets suffer another meltdown like they did last fall.

Persons: —, Mark Zuckerberg, Aaron Schwartz, ”, won’t, Jerome Powell, Phil Rosen, There's, BI’s Yuheng Zhan, NYCB’s, Ark's Cathie Wood, Paul Judge, Tessa Flippin, Claude Grunitzky, Gayle Jennings O'Byrne, Black VCs, Masayoshi Son, OpenAI’s, Jenny Chang, Rodriguez, Vladimir Putin, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, UFC, Business, Xinhua, Getty, Federal, Paramount, Fed, Big Tech, JPMorgan Private Bank, Discover, Discover Financial, Nvidia, Opportunity, Equity Alliance, Wocstar Fund, Opportunity Fund, Equity Alliance Wocstar, Google, Walmart, Pandora, Home Locations: Japan, Ukraine, Moscow, Russia, Fox, New York, London, Chicago

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

Stocks fell Tuesday as Nvidia led a broader tech decline ahead of the chipmaker's earnings report. Shares of Nvidia , which is set to report earnings Wednesday after the bell, fell more than 5%. Although Nvidia is expected to post impressive results, investors have expressed concerns about its sky-high valuation. Walmart shares added more than 4% after the big-box retailer also beat quarterly earnings and revenue expectations, fueled by double-digit growth in the company's global e-commerce sales. Tuesday kicks off the shortened trading week after U.S. markets were closed Monday in observance of the birthday of George Washington.

Persons: Stocks, Sam Stovall, George Washington Organizations: New York Stock Exchange, Nvidia, Dow Jones, Nasdaq, Microsoft, Meta, CFRA Research, Discover Financial Services, Discover, Walmart, Federal Reserve

☆ 'Bubble may be far from bursting': Capital Economics says S&P 500 could hit 6,500 by end of next year
▼ + stars: | 2024-02-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The S & P 500 closed above 5,000 for the first time last week. However, investors need not fear as the rally could still have plenty of room to run, according to Capital Economics. However, Higgins continued: "valuation remains far short of what it reached then, suggesting that it has plenty more room to inflate." Capital Economics also noted the index's current rally is highly concentrated in mega-cap tech stocks like Apple and Microsoft . While acknowledging that it's impossible to predict bubbles, Capital Economics suggested that sustained modest earnings growth could see the rally continue through 2025.

Persons: John Higgins, Higgins Organizations: Capital Economics, Economics, Apple, Microsoft Locations: London

Shanker also raised his price target to $80 from $75, suggesting nearly 34% downside from Friday's close. — Spencer Kimball 8:16 a.m.: Loop Capital upgrades Corteva, touts growth acceleration in 2025 Corteva's stronger-than-expected 2024 full-year guidance will jumpstart a period of strong growth, according to Loop Capital. The firm upgraded the agricultural chemicals company to buy from hold and increased its price target to $65 from $57. Analyst Jay Sole upgraded Urban to neutral from sell and upped his 12-month price target by $20 to $41. Kaufman's $183 price target indicates roughly 6.3% downside for shares, which have fallen more than 18% over the past year.

Persons: headwinds, Morgan Stanley downgrades XPO, Morgan Stanley, Ravi, Shanker, — Michelle Fox, Julien Dumoulin, Smith, Duke's, — Spencer Kimball, Chris Kapsch, Kapsch, Brian Evans, Cassie Chan, they'll, Chan, —, Jay Sole, URBN, Sole, Urban's, — Pia Singh, Filippo Falorni, Falorni, Hershey, Stanley, Pamela Kaufman, Kaufman's, Hershey's, Kaufman, Graham Doyle, Doyle, Piper Sandler, David Amsellem, Amsellem, Amsellam, Christopher Horvers, Jan, Horvers, Fred Imbert, Dan Levy, Levy Organizations: CNBC, Barclays, Automotive, JPMorgan, Corp, Bank of America, Bank of America downgrades Duke Energy, Duke Energy, Duke, Wall, America, UBS, Urban Outfitters, Free People, Urban, Citi, PepsiCo, Citi Research, Pepsi, Hershey, GE Healthcare Technologies, UBS GE Healthcare Technologies, Pharmaceutical, Teva Pharmaceutical, Federal, Barclays downgrades Rivian, Rivian Automotive, North American EV Locations: Bank of America downgrades, GEHC, David Amsellem U.S

☆ Commercial real estate investment plummeted to the lowest level since 2012 last year
▼ + stars: | 2024-02-08 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Read previewThe US commercial real estate market saw a steep drop in investment last year, with capital flows into the market plummeting by more than 50% to the lowest level since 2012. That brought the full-year investment total to $348 billion, a 52% decline from 2022, according to CBRE. CBRE noted a 91% year-over-year drop in direct real estate company investments to $1.4 billion in Q4, citing increased financing costs. New York took the lead with $33 billion in investment, followed by Los Angeles at $30 billion. AdvertisementThe dimming outlook for commercial real estate —offices in particular — is linked to the tighter financing conditions that many commercial landlords now face.

Persons: —, CBRE, Barry Sternlicht Organizations: Service, Business, New York, Los, Starwood Capital, Capital Locations: Los Angeles

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Persons: You've, It's, You'll, We'll, you'll Organizations: Business, Venture, Business †, you've, Ink, Chase Travel, FDIC, Express, American Express, Dell Technologies, Adobe, American, Capital, One, Amex, FedEx, Grubhub, Supply, Walmart, Best, Dell, Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy, Chase, Finance, — Locations: AmexTravel.com, U.S, Chevron

☆ Wynn is almost back in Macao and crushing it in Vegas even before Super Bowl, Chinese New Year
▼ + stars: | 2024-02-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It appears the strength in the fourth quarter has carried over into the current (first) quarter in all three locations. Macao We're happy to see the strong top-line performance in both Macao locations, even if Wynn Palace's adjusted EBITDAR came up a tad bit short. Total adjusted EBITDAR of $297 million (Wynn Palace and Wynn Macao added together) represents about 85% of Wynn's pre-Covid fourth quarter 2019 level of $348 million in the Chinese special administrative region. Breaking that down, Wynn Palace was still a bit further ahead in its recovery but Wynn Macao is quickly gaining ground. In 2019, Wynn Macao generated $170 million in fourth quarter adjusted EBITDAR.

Persons: —, WYNN, Wynn Al Marjan, Wynn, Al Marjan, Wynn Palace's, EBITDAR, Jim Cramer's, Jim Cramer, Jim, Pual Yeung Organizations: Wynn Resorts, Vegas, Boston, Club, LSEG, Super Bowl, United Arab Emirates, Wynn, Wynn Macao, Las Vegas, Bowl, Super, Wynn Interactive, Capital, CNBC, Bloomberg, Getty Locations: Macao, Las Vegas, Boston, United Arab, UAE, China, Wynn Macao, EBITDAR, Vegas Las Vegas, Las, Vegas, New York, Michigan

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ We're raising our Alphabet price target after earnings that shouldn't have dinged the stock
▼ + stars: | 2024-01-30 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Alphabet delivered better-than-expected fourth-quarter sales and earnings after the closing bell Tuesday. Total revenue rose 13.5% year-over-year to $86.31 billion, outpacing the $85.33 billion expected, according to estimates compiled by LSEG. However, it wasn't enough to jump over the high expectations that come with a stock trading at all-time highs. Google Search sales in Q4, by far the largest contributor to overall revenue, gained 12.7% to a lower-than-expected $48.02 billion. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Copilot, Ruth Porat, We're, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: LSEG, Wall Street, Google, Management, NFL, Microsoft, Google Network, Google Services, Web Services, CNBC, Washington, Santiago, Getty Locations: Hudson Square, New York City

☆ Stocks making the biggest moves midday: Intel, Visa, Spirit Airlines and more
▼ + stars: | 2024-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

On Thursday, Capital One posted fourth-quarter revenue of $9.51 billion, while analysts polled by LSEG called for $9.46 billion. Booz Allen Hamilton — Shares soared 12% after the company reported an earnings and revenue beat for its fiscal third quarter, per FactSet. Booz Allen Hamilton also raised its full-year earnings and revenue guidance, and raised its quarterly dividend by 8.5%. Colgate-Palmolive — The consumer products company rose more than 2% after posting an earnings and revenue beat in the fourth quarter. Visa — The stock slipped nearly 2% even though Visa beat estimates on the top and bottom lines in the fiscal first quarter.

Persons: LSEG, Booz Allen Hamilton, Horacio Rozanksi, Coinbase, Oppenheimer, CNBC's Lisa Kailai Han, Pia Singh, Samantha Subin, Michelle Fox, Tanaya Macheel Organizations: Capital, Spirit Airlines, JetBlue, Booz, Colgate, Palmolive, LSEG, Intel, KLA Corporation, Visa, Western Digital

☆ Stocks making the biggest moves premarket: Intel, T-Mobile, American Express and more
▼ + stars: | 2024-01-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The company now expects revenue in the range of $12.2 billion to $13.2 billion, while analysts polled by LSEG forecast $14.16 billion. American Express — Shares added 3% after the company issued full-year guidance that topped expectations, although its fourth-quarter results were weaker than expected. American Express is anticipating full-year earnings between $12.65 to $13.15 per share, versus the StreetAccount consensus estimate of $12.38 per share. T-Mobile — The telecommunications company declined 2% after posting mixed fourth-quarter results. T-Mobile posted $20.48 billion in revenue, ahead of a $19.67 billion forecast.

Persons: Levi Strauss –, Coinbase, Oppenheimer, Macheel, Brian Evans, Sarah Min, Michelle Fox, Jesse Pound Organizations: Intel, LSEG, American, Mobile, FactSet, Western Digital, KLA Corporation, Wall, Deutsche Bank, Colgate, Palmolive, Capital, Federal Deposit Insurance Corporation

☆ 2024 could be a banner year for dividends, Bank of America says
▼ + stars: | 2024-01-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

This year could be a banner one for dividends, according to Bank of America Securities. For one, high dividend yield tends to lead in recoveries and global wave upturns, she wrote. Dividends also bridge a gap between "muddled macro signals" that impede a full cyclical/small cap recovery as the Federal Reserve pauses and/or cuts rates, Subramanian said. Atlanta Federal Reserve President Raphael Bostic said Thursday he expects policymakers to start cutting rates in the third quarter of 2024. "We expect more cash to revert to equity income as retirees reach for yield as cash yields ebb," Subramanian said.

Persons: Savita Subramanian, Subramanian, Raphael Bostic, There's, Humana, — CNBC's Michael Bloom Organizations: Bank of America Securities, Federal Reserve, Atlanta Federal Reserve, CNBC Pro, ETF, Elevance Health

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