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☆ Banking crisis: Why markets are still freaking out about banks
▼ + stars: | 2023-05-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Similarly, southeastern regional bank First Horizon was teetering, having scrapped a $13 billion merger with Canada’s TD bank. That market pessimism was echoed by Bill Ackman, the billionaire investor, who tweeted Thursday that regional banks broadly are in trouble. Without a miracle from DC, the outlook for regional banks is not great. There is so much pessimism percolating on Wall Street, smaller banks are going to get crushed. That means we can expect more bank failures, and more Wall Street panic, in the weeks and months ahead.

☆ First Horizon stock tumbles 50% after TD Bank merger collapses
▼ + stars: | 2023-05-04 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —First Horizon and TD Bank have called off a $13 billion deal that would have formed America’s sixth-largest bank, adding to the turmoil sweeping the country’s regional lenders. But regional banks have been losing the confidence of investors and customers since the March collapse of Silicon Valley Bank and Signature Bank. On Monday, a third regional bank, First Republic, failed and JPMorgan purchased most of its assets. Other regional bank stocks have tumbled in recent days after First Republic’s failure. Customers had been moving their money to bigger banks, leaving some regional banks without the cash they need to pay for withdrawals.

☆ The housing market’s still in limbo - but homebuyers could pile back into the market if mortgage rates hit this key level
▼ + stars: | 2023-04-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

"Home sales are trying to recover and are highly sensitive to changes in mortgage rates," NAR economist Lawrence Yun said. He added that home prices are still climbing in regions where jobs are being added and housing is relatively affordable. cutting rates) in the next 12 months, which will again sway the housing sector. With that outlook in mind, the economist said "home sales will steadily rebound despite several months of fluctuations." Even in a tight market, this home expert still sees potential to save money on interest rates.

☆ TD Bank says in talks over possible extension of First Horizon takeover deadline
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

TORONTO, April 20 (Reuters) - Toronto-Dominion Bank (TD.TO) believes its planned takeover of First Horizon Corp (FHN.N) is unlikely to close by its slated deadline and the company is in talks about a "possible extension," TD's chief executive officer said on Thursday. "We have opened discussions with First Horizon about a possible extension, and we will update our shareholders when we can," Bharat Masrani, Group President and CEO at the Canadian lender said at the firm's annual general meeting (AGM). TD is awaiting regulatory approval of the $13.4 billion transaction, which was set to close on May 27, and had previously said it was in discussions with First Horizon to extend the date. Some shareholders have been urging TD to ditch deal after the collapse of Silicon Valley Bank and Signature Bank last month triggered a crisis of confidence. Reporting by Maiya Keidan; Editing by Ismail ShakilOur Standards: The Thomson Reuters Trust Principles.

☆ Short bets against TD Bank surge 45% in two weeks to hit $6.1 billion amid investor skepticism toward its planned First Horizon takeover
▼ + stars: | 2023-04-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Short equity bets against Toronto-Dominion surged to $6.1 billion on Wednesday, up 45% from two weeks earlier. That comes as the Canada-based bank faces investor skepticism over its planned takeover of First Horizon Bank. TD became the most-shorted bank in the world in early April as it faces a slew of headwinds. It comes as traders question the bank's planned takeover of US regional bank First Horizon, according to the publication. "I think that short interest was elevated by arbitrage investors betting on the (First Horizon) deal ... suggesting that the market believes that the deal is at risk of closing," James Shanahan, an analyst at Edward Jones told the outlet.

☆ The Era of Easy Deposits Is Over for Main Street Banks
▼ + stars: | 2023-04-19 | by ( Rachel Louise Ensign | Gina Heeb | ) www.wsj.com time to read: 1 min

PHOTO: Douglas R. Clifford/Zuma PressThe era of easy deposits looks like it’s over for the smaller banks that serve a swath of America’s consumers and businesses. Main Street banks such as Citizens Financial Group Inc. and First Horizon Corp. said in recent first-quarter earnings reports they are having a tougher time hanging onto customer money in a world where the Federal Reserve has aggressively raised interest rates. To keep those depositors around, some lenders are paying more on savings accounts and turning to products like certificates of deposit.

☆ Short positions on Canada's TD Bank rise to $6.1 billion, ORTEX data shows
▼ + stars: | 2023-04-19 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

TORONTO, April 19 (Reuters) - Hedge fund bets against Canada's TD Bank Group (TD.TO) hit $6.1 billion on Wednesday, a 45% increase from 14 days ago, according to data provider ORTEX's calculations, one day ahead of the Canadian lender's annual general meeting. So-called 'arbitrage investors', many of which are event-driven hedge funds, bet on mergers and acquisitions by buying shares of the target and shorting the acquirer's stock. TD, which is awaiting regulatory approval of its takeover of First Horizon, is expected to address the $13.4 billion deal at its AGM on Thursday in Toronto. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. TD shares are down 0.1% since the U.S. regional banking crisis began, and up 3.4% this week.

☆ Stocks making the biggest moves after hours: Netflix, United Airlines, Western Alliance, Interactive Brokers and more
▼ + stars: | 2023-04-18 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Netflix posted a beat on per-share earnings, but fell short of Wall Street's estimates for revenue, according to Refinitiv. The company reported adjusted earnings per share of $1.35, below a consensus estimate of $1.41, according to Refinitiv. The bank holding company posted adjusted earnings of 45 cents per share against a consensus estimate of 47 cents per share, according to FactSet. The company reported adjusted earnings per share of $1.23 against a consensus estimate of $1.20 per share, according to FactSet. United Airlines — The airline gained 1.3% on forward guidance in the company's latest earnings report that forecasts a second-quarter profit.

☆ First Horizon deposits fall 3.2% compared to the fourth quarter
▼ + stars: | 2023-04-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Horizon deposits fall 3.2% compared to the fourth quarterCNBC's Dom Chu joins 'Closing Bell: Overtime' to report on First Horizon's earnings.

☆ TD world's most shorted banking stock, shares down -ORTEX data
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

Around 4.1% of TD's outstanding shares were out on loan to hedge funds, while the second-most shorted bank stock, JP Morgan , only had $2.3 billion worth of shorts, showed the data. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. Turmoil in the banking sector began last month with the collapse of regional banks Silicon Valley Bank and Signature Bank, sparking a crisis of confidence. TD shares are down 15.7% since the beginning of the regional bank crisis and down 3.4% this week. Around 2.9% of BMO's outstanding shares were out on loan to hedge funds, or about $1.8 billion.

☆ TD world's most shorted banking stock, ORTEX data shows; shares fall
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

☆ Some TD shareholders urge bank to ditch or renegotiate First Horizon deal
▼ + stars: | 2023-04-04 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

Regional lenders in the U.S. face a crisis of confidence after the collapse of Silicon Valley Bank and Signature Bank last month. First Horizon shares are trading almost 30% below TD's offer price of $25 each, which points to the high risk to the deal closing. TD offered a 37% premium to buy First Horizon more than a year ago in a deal that would make TD the sixth-largest U.S. bank, operating in 22 states. Even the shareholders who support TD going ahead with the deal say it should not pay the original price proposed. A First Horizon top-20 shareholder told Reuters he expects the deal to be extended with no other changes.

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analyst says
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

read more"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ Signature Bank buyer gets a crisis dividend
▼ + stars: | 2023-03-20 | by ( John Foley | ) www.reuters.com time to read: +4 min

The failure of lender Signature Bank (SBNY.O) has forced them to abandon their consolidation-skeptic principles, resulting in a sizeable crisis dividend for Signature’s new owner. Bank mergers almost never happen so quickly, and nobody knows that better than Community Bancorp boss Thomas Cangemi. A study by the St. Louis Federal Reserve found that failed bank selloffs did lessen competition, but not by much. Community Bancorp said it has taken on $13 billion in loans and $25 billion in cash as part of the deal. The FDIC has been given equity appreciation rights in New York Community Bancorp that could be worth up to $300 million.

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analysts say
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ The winners and losers of the Silicon Valley Bank failure
▼ + stars: | 2023-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Silicon Valley Bank was taken over by regulators on Friday. These are the biggest winners, and losers, in the wake of the bank failure. Which brings us to the downfall of Silicon Valley Bank. Here's a rundown of who stands to gain, and lose, the most as a result of the fall of Silicon Valley Bank. Silicon Valley Bank's obituary had barely been written before firms were offering to buy up customers' uninsured deposits for as little as 55 cents on the dollar.

However, if you open an add-on CD, you'll be able to make deposits at any time. The main perk of an add-on CD is that it's the only type of CD that lets you add money while the account is open. Add-on CD vs. regular CDYou can use the chart below to understand the similarities and differences between add-on CDs and regular bank CDs. Add-on CDs allow you to add money at any time. Add-On CDs: Frequently asked questionsCan you add money to a CD?

☆ Elizabeth Warren leads cavalry into deal battles
▼ + stars: | 2023-03-07 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

It would be the third curious regulatory intervention in recent weeks, each encouraged by Democratic Senator Elizabeth Warren. In a September letter to Transportation Secretary Pete Buttigieg, Warren argued that the DOT should use its own tools, specifically in the Spirit situation. UnitedHealth (UNH.N) beat back a federal lawsuit against its plan to buy Change Healthcare; Facebook owner Meta Platforms (META.O) shrugged off an FTC attempt to stop its purchase of fitness app developer Within. JetBlue says it built time for a lawsuit into the Spirit merger agreement. As the senator charges up the competition cavalry, dealmakers may have to redraw their battle plans.

☆ Stocks making the biggest moves midday: Lowe's, 3M, First Horizon, Nio and more
▼ + stars: | 2023-03-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Rivian also shared an electric vehicle production outlook that fell short of analysts' expectations. First Solar — Shares of First Solar gained 15% after the solar company issued full-year guidance on Tuesday that came out ahead of expectations on per-share earnings and revenue. First Solar reported a fourth-quarter loss of 7 cents per share compared with a 17 cent per-share loss expected by analysts surveyed by FactSet. The company's revenue was in line with analysts' expectations of $1 billion. Ambarella gave first-quarter guidance that missed analysts' expectations on Tuesday, according to FactSet.

☆ Canada's TD gets regulatory nod for $1.3 bln purchase of Cowen
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - Canada's Toronto-Dominion Bank (TD.TO) has received all regulatory approvals to complete its $1.3 billion acquisition of New York-based boutique investment bank Cowen Inc (COWN.O), the companies said on Friday. Last February, the Canadian lender had signed a $13.4 billion deal to buy U.S.-based First Horizon Corp (FHN.N). The First Horizon deal is now expected to close on May 27, three months later than the deadline the companies had set. Cowen provides investment banking, research, sales and trading and prime brokerage services. Last week, Cowen reported an 82% drop in fourth-quarter net income as investment banking took a hit.

☆ Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF
▼ + stars: | 2023-02-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics (HZNP.O), which was bought by Amgen (AMGN.O) in December for nearly $28 billion. The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health (SGFY.N). It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank (TD.TO) roughly a year ago for $13.4 billion. Shares in Zoom Technologies Inc (ZTNO.PK) and Airbnb Inc (ABNB.O) were sold, while it reduced its holdings in Amazon.com (AMZN.O), by 54.5%, to 901 million shares. The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.

☆ BNP Paribas' $16 bln U.S. sale to BMO wins regulatory OK
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 18 (Reuters) - BNP Paribas (BNPP.PA), France's biggest listed bank, said on Wednesday that it had received all the necessary regulatory approvals to complete its previously announced sale of Bank of the West to Bank of Montreal (BMO.TO). BNP Paribas added that this transaction was expected to close on Feb 1. "The closing of the Bancwest sale has been long-awaited ... and is a significant positive catalyst for BNP shares in our view," Jefferies analysts said in a note. Once the deal closes, it will bring nearly 1.8 million commercial, retail, wealth management and business banking customers and over 9,300 Bank of the West employees to BMO. Reporting by Sudip Kar-Gupta and Silvia Aloisi and Manya Saini in Bengaluru editing by Jason Neely and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Investing Club: The week in review, the week ahead — Jan. 14, 2023
▼ + stars: | 2023-01-14 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Also, earnings season is just kicking off, when we'll learn much more about what companies are seeing on the ground. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. People shop at the Pioneer Supermarkets on January 12, 2023 in the Flatbush neighborhood of Brooklyn borough in New York City.

☆ Richard Branson's Virgin Orbit is set to launch the first orbital rocket from UK soil on Monday. Watch live as the rocket drops from a Boeing 747.
▼ + stars: | 2023-01-09 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Richard Branson's Virgin Orbit is set to launch the first orbital space rocket from British soil. Virgin Orbit CEO Dan Hart said the crew will proceed cautiously in case winds or lightning set in. Watch the historic rocket launch live on Virgin Orbit's YouTube page below. Livestream: Watch Virgin Orbit's Cosmic Girl take off and release the rocketWatch the historical rocket launch live on Virgin Orbit's YouTube livestream below, starting at 4:30 p.m. Cosmic Girl, a repurposed Virgin Atlantic Boeing 747-400 aircraft, is expected to take off from Spaceport Cornwall between 5:16 p.m.

☆ More CMOs Are Investing in Their Personal Brands
▼ + stars: | 2022-11-18 | by ( Patrick Coffee | ) www.wsj.com time to read: +8 min

Efforts can include carefully composed LinkedIn posts about everything from corporate leadership to their costumes at the company’s recent Halloween party. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. “The best way to do that is for them to have their own strong personal brands,” said Ms. Pryor. Other marketing executives are getting help. SHARE YOUR THOUGHTS Should your company’s executives be able to expense ghostwriters for their personal social-media posts?

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