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☆ US Fed plans broad revamp of bank oversight in wake of SVB collapse
  + stars: | 2023-04-28 | by ( ) www.reuters.com   time to read: +7 min
Many commentators linked the lessons learned from the earlier crisis to the ongoing concerns about First Republic Bank. INSTITUTE OF INTERNATIONAL BANKERS CEO BETH ZORC"The IIB commends the Federal Reserve's timeliness of producing its report on SVB. "There are similarities between SVB's situation and what is happening with First Republic Bank: both are affected by the rapid movement of very large sums of money." A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals." "It feels isolated, than the rest of the regional bank system, feels like it's in a different place than where FRC is."
☆ Stocks making the biggest moves premarket: Novartis, First Republic, 3M and more
  + stars: | 2023-04-25 | by ( Pia Singh | ) www.cnbc.com   time to read: +4 min
3M reported $1.97 in earnings per share, higher than analysts expectations of $1.58 from FactSet. The company reported $2.63 in adjusted earnings per share on $5.9 billion in revenue. The company reported $39.99 billion in revenue, higher than $38.96 billion according to Refinitiv data. Novartis reported earnings per share of $1.71 on $12.95 billion in revenue, topping analysts' expectations of $1.54 per share on $12.52 billion in revenue. PepsiCo reported earnings per share of $1.50, topping analysts' expectations of $1.39.
☆ What First Republic's results mean for the regional bank trade, according to Wall Street
  + stars: | 2023-04-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +4 min
First Republic 's quarterly update left investors with major questions about whether the bank can repair itself after massive withdrawals, but the regional bank troubles appear to now be limited to just a small corner of the industry, according to Wall Street analysts. The troubled regional lender reported its first-quarter results Monday, showing a 40.8% drop in deposits that was steeper than analyst estimates. The bank said deposits have stabilized in recent weeks and that it was taking steps to cut expenses and shrink its balance sheet, while also exploring strategic options. Results from regional banks over the last two weeks demonstrated the stickiness of the deposit customer base. ... We expect FRC to embrace a new approach and a different business model, as it adjusts to operating with a smaller balance sheet.
☆ Here are Tuesday's biggest analyst calls: Meta, Tesla, Amazon, Nike, Hasbro, First Republic & more
  + stars: | 2023-04-25 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Citi upgrades Squarespace to buy from neutral Citi said it sees an "improved growth outlook" for the website hosing company. Citi reiterates Netflix as buy Citi said it sees more upside in shares of Netflix. Credit Suisse upgrades Zebra Technologies to outperform from neutral Credit Suisse upgraded the computer technology company due to Zebra' s strength in Europe. Credit Suisse reiterates Amazon as outperform Credit Suisse said it's standing by shares of Amazon heading into earnings later this week. Citi reiterates Meta as buy Citi said it's staying bullish heading into Meta earnings on Wednesday. "
☆ Western Alliance is de-risking on the credit side to help earnings, says Janney's Chris Marinac
  + stars: | 2023-04-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWestern Alliance is de-risking on the credit side to help earnings, says Janney's Chris MarinacChristopher Marinac, Janney Montgomery Scott director of research, joins 'The Exchange' to discuss Western Alliance deposit numbers stabilizing, recovery in the bank sector, and the health of regional banking.
☆ Should investors buy regional bank stocks? A bull and a bear weigh in — and share 3 top picks
  + stars: | 2023-04-17 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +5 min
A bull and a bear on U.S. regional banks faced off on CNBC's " Street Signs Asia " on Thursday and shared their stock picks. 'Not the environment' for regional banks It's "not the environment" for regional banks right now, said Brian Stutland, portfolio manager at Equity Armor Investments. Stock picks For investors still keen on regional bank stocks, Marinac said his top two picks are Fifth Third Bancorp and First Citizens . First Citizens announced in late March that it will buy over Silicon Valley Bank's deposits and loans. He highlighted "the fact that [regional bank] stocks are down 40% when you've had earnings down about 5%.
☆ Wall St falls as Fed seen on track to hike rates; banks shine
  + stars: | 2023-04-14 | by ( Ankika Biswas Sruthi Shankar | Ankika Biswas | Sruthi Shankar | ) www.reuters.com   time to read: +3 min
JPMorgan's shares rallied 7.3%, set for its steepest one-day gain in over two years, while Citigroup rose 3.8%. The S&P 500 Banks index (.SPXBK) rose 3.3% to a one-month high, among the few sectors to outperform. Traders largely stuck to bets that the Fed will raise rates by another 25 basis points in May. Ten of the 11 S&P 500 sectors were in the red, with real estate (.SPLRCR) and utilities (.SPLRCU) leading declines. Bank stocks lag S&P 500 this yearReporting by Sruthi Shankar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
☆ The fallout from empty offices is coming. Here's where investors could see the pain
  + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com   time to read: +12 min
As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.
☆ Analysis: Investors seek value in clobbered U.S. regional bank shares
  + stars: | 2023-03-28 | by ( David Randall | ) www.reuters.com   time to read: +4 min
The ETF has slumped nearly 26% since March 8, when SVB's troubles became known, while the S&P Regional Banks Select Industry Index (.SPSIRBK) is down around 23%. Concerns over deposit flight are still swirling around some regional banks. He owns shares of large regional banks including Citizens Financial Group Inc (CFG.N), which have fallen about 22% so far this year, and US Bancorp (USB.N), which are down some 18%. Margie Patel, a senior portfolio manager at Allspring Global Investments, has been adding new positions in regional banks over the last few weeks, citing "value." Regional banks "need positive news that shows their deposits are holding firm or growing," said Rick Meckler, a partner at family office Cherry Lane Investments.
☆ UBS to take over Credit Suisse, central banks act on liquidity
  + stars: | 2023-03-19 | by ( Reuters Staff | ) www.reuters.com   time to read: +13 min
LONDON/NEW YORK (Reuters) -UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. FILE PHOTO: The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. The reports that UBS is acquiring Credit Suisse will likely magnify Credit Suisse’s problems by moving them to UBS... The Credit Suisse issues are not new and needed to be resolved years ago. A legal challenge by Credit Suisse shareholders, who will claim that their property has been illegally confiscated, is guaranteed.
☆ Watch CNBC’s full interview with Janney Montgomery Scott's Mark Luschini
  + stars: | 2023-03-17 | 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 EmailWatch CNBC’s full interview with Janney Montgomery Scott's Mark LuschiniMark Luschini, Janney Montgomery Scott chief investment strategist, joins 'Power Lunch' to discuss the markets this week and what to expect from the Fed at next week's meeting.
☆ A 25 bps hike seems most likely at next Fed meeting, says Janney Montgomery Scott's Mark Luschini
  + stars: | 2023-03-17 | 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 EmailA 25 bps hike seems most likely at next Fed meeting, says Janney Montgomery Scott's Mark LuschiniMark Luschini, Janney Montgomery Scott chief investment strategist, joins 'Power Lunch' to discuss the markets this week and what to expect from the Fed at next week's meeting.
☆ Top analyst reacts to big banks planning to aid First Republic
  + stars: | 2023-03-16 | by ( Melissa Lee | ) 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 EmailTop analyst reacts to big banks planning to aid First RepublicChris Marinac, Janney Montgomery Scott, on First Republic Bank getting a lifeline from big banks. With CNBC's Melissa Lee and the Fast Money traders, Carter Worth, Karen Finerman, Guy Adami and Tim Seymour.
☆ First Republic just got a $30 billion lifeline from JPMorgan and other Wall Street giants. Here's why its problems aren't over.
  + stars: | 2023-03-16 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +5 min
JPMorgan and 10 other banks are depositing $30 billion in First Republic Bank. A white knight has arrived to First Republic Bank's rescue. A consortium of America's biggest banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are depositing a collective $30 billion in First Republic. This $30 billion lifeline may not be enough to reassure investors and depositors, and it may be a stopgap measure before a sale. The $70 billion lifeline from JPMorgan announced on Sunday did little to quell investors' concerns, Dahiya noted.
☆ Regional bank weakness is a 'solvable problem,' says Janney's Christopher Marinac
  + stars: | 2023-03-13 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional bank weakness is a 'solvable problem,' says Janney's Christopher MarinacChristopher Marinac, Janney Montgomery Scott director of research, on what to do about regional banks after the collapse of SVB. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Karen Finerman and Steve Grasso.
☆ Regional bank stock plunge creating key entry point for investors, top analyst says
  + stars: | 2023-03-13 | by ( Anna Gleason | ) www.cnbc.com   time to read: +1 min
The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. The SPDR S&P Regional Banking ETF dropped by more than 12% on Monday after regulators shuttered Silicon Valley Bank and Signature Bank. When asked which regional banks look most attractive, Marinac recommends Fifth Third Bank . Marinac also named Truist as a top sector pick, saying the company has a competitive advantage among regional banks after selling a portion of its insurance unit. Truist stock has dropped 30% over the past five sessions.
☆ Who will step up to buy SVB? The white knight might be a bank outside Wall Street.
  + stars: | 2023-03-11 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +5 min
SVB Bank, which catered to startups and tech founders, imploded in three days after a run on the bank. SVB Financial is reportedly looking to find a buyer by Monday. The implosion of Silicon Valley Bank means a working weekend for some bankers. SVB Financial Group is on the hunt for a buyer after regulators closed its Silicon Valley Banking business, according to Bloomberg. Though SVB's bond losses are taking up the headlines, its parent company SVB Financial has two business segments that are enticing.
☆ Momentum Advisors' Allan Boomer doesn't see the Fed backing down anytime soon
  + stars: | 2023-03-09 | 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 EmailMomentum Advisors' Allan Boomer doesn't see the Fed backing down anytime soonMomentum Advisor’s Allan Boomer and Janney Montgomery Scott’s Guy Lebas, join 'The Exchange' to discuss the Fed being more hawkish and how investors should position themselves from here.
☆ Watch CNBC’s full interview with Momentum Advisors' Allan Boomer and Janney Montgomery Scott’s Guy Lebas
  + stars: | 2023-03-09 | 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 EmailWatch CNBC’s full interview with Momentum Advisors' Allan Boomer and Janney Montgomery Scott’s Guy LebasMomentum Advisors' Allan Boomer and Janney Montgomery Scott’s Guy Lebas join 'The Exchange' to discuss the Fed being more hawkish and how investors should position themselves from here.
☆ The Fed is now set up to step down the pace of hikes, says Janney Montgomery Scott's Luschini
  + stars: | 2023-01-13 | 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 EmailThe Fed is now set up to step down the pace of hikes, says Janney Montgomery Scott's LuschiniRon Insana, Contrast Capital Partners, and Mark Luschini, Janney Montgomery Scott, join 'Power Lunch' to discuss inflation and whether it's slowing, as well as bank earnings and what they say about the market.
☆ Watch CNBC's full market discussion with Contrast Capital Partners' Ron Insana and Janney Montgomery Scott's Mark Luschini
  + stars: | 2023-01-13 | 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 EmailWatch CNBC's full market discussion with Contrast Capital Partners' Ron Insana and Janney Montgomery Scott's Mark LuschiniRon Insana, Contrast Capital Partners, and Mark Luschini, Janney Montgomery Scott, join 'Power Lunch' to discuss inflation and whether it's slowing, as well as bank earnings and what they say about the market.
☆ Stocks on the cheap — Here are 11 names with single-digit P/Es that could rally
  + stars: | 2022-12-31 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
On the tail-end of a down year, there are some stocks that might be cheaper than they should be. That has led to a down year for the majority of stocks — and all but one of the 11 sectors — in the broad index. But this sharp decline could present a buying opportunity, as some stocks are set to rally. Along with PulteGroup , it also has the lowest forward price-to-earnings ratio among the names on the list, at 6.2 times. Further down the list, United Rentals has a price-to-earnings ratio of 9.6.
☆ Stocks making the biggest moves premarket: Tesla, AMC, Southwest and others
  + stars: | 2022-12-28 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +1 min
Baird reduced its price target on Tesla to $252 per share from $316, but continues to rate the stock outperform. AMC Entertainment (AMC) – AMC Entertainment rose 1.2% in premarket trading after CEO Adam Aron asked the movie theater chain's board to freeze his salary. Southwest Airlines (LUV) – Southwest Airlines fell 1.3% in premarket action as it continues to cancel flights in its struggle to return to a normal schedule. Apple (AAPL) – Apple is marginally higher in the premarket following its Tuesday close, which was the lowest since June 2021. It rebounded by 1.1% in premarket trading.
☆ Stocks making the biggest moves midday: Tesla, Southwest, Apple, AMC and more
  + stars: | 2022-12-28 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Baird also trimmed its price target on shares to $252 from $316 a share. AMC Entertainment – AMC Entertainment shares dipped about 3% a day after CEO Adam Aron tweeted that he asked the company's board to freeze his 2023 pay and urged other executives to forgo salary bumps. Maxeon — Shares slid 8% after the solar company announced Bill Mulligan would be the new CEO. The firm gave the stock a price target of $29, which presents an upside of 75.4% over where it closed Tuesday.
☆ These S&P 500 stocks are expected to post the biggest gains in the new year
  + stars: | 2022-12-21 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +4 min
While there's still time for stocks to turn around for the month, hopes for an end-of-year "Santa Claus rally" have fizzled out. However, analysts see the potential for big gains in some stocks despite the potential volatility ahead. Each of the 15 stocks below has at least about 50% upside to the average analyst price target. Discovery each have more than 100% potential upside, according to the target calculated by FactSet. The stock has upside potential of 51% from its current average price target.
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