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☆ PayPal stock drops after weak second-quarter margins
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Shares of PayPal Holdings (PYPL.O) fell nearly 9% in premarket trading on Thursday after the digital payments firm reported weak margins for the second quarter that overshadowed a strong outlook. The company reported an adjusted operating margin of 21.4% for the three months ended June 30, below estimates of 22%, according to Refinitiv IBES data. In May, PayPal cut its adjusted margin forecast for the full year, which worried analysts and investors. The company forecast adjusted profit per share for the current quarter to be in a range of $1.22 and $1.24, above analysts' estimates of $1.22.

Persons: Dado Ruvic, Edward Jones, Logan Purk, Niket, Nivedita Organizations: PayPal, REUTERS, PayPal Holdings, Thomson Locations: Bengaluru

☆ Instant View: Fitch downgrades U.S. foreign currency ratings to 'AA+' from 'AAA'
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +9 min

The downgrade follows a debt ceiling agreement in June that came after months of political brinkmanship and ultimately lifted the government's $31.4 trillion debt ceiling. Unless they think that fiscal trajectory suggests risk of a default, which I don't think they say, I don't understand the reason for this." “So I don't think the reaction, it should surprise anyone in the markets because we've been through this before. JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS IN PALM BEACH, FLORIDA"I'm surprised, but I'm not surprised." "It's really the just the troubled negotiations that take place every time we have a debt ceiling or budget negotiation.

Persons: Thomas White, Fitch, STEVEN RICCHIUTO, ” WENDY EDELBERG, I'm, JASON WARE, Fiitch, MICHAEL O’ROURKE, “, ” BERNARD BAUMOHL, Poor’s, ” MICHAEL SCHULMAN, ANGELO KOURKAFAS, EDWARD JONES, ”, MICHAEL K, FARR, That’s, ” KEITH LERNER, ” “ It’s, ERIC WINOGRAD, ALLIANCEBERNSTEIN, QUINCY KROSBY, doesn't, JACK ABLIN, it's Organizations: REUTERS, United, AAA, USA, ., OF, HAMILTON PROJECT, BROOKINGS, WASHINGTON D.C, ALBION, Fitch, AA, PRINCETON, NEW, ST LOUIS, MILLER & WASHINGTON LLC, ADVISORY, Global Finance, Markets, Thomson Locations: United States, U.S, MIZUHO, WASHINGTON, CITY , UTAH, STAMFORD , CONNECTICUT, NEW JERSEY, ATLANTA, CHARLOTTE, NORTH CAROLINA, BEACH , FLORIDA

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

REUTERS/Benoit TessierJuly 27 (Reuters) - Visa (V.N) and Mastercard (MA.N), which bet on China to boost travel spending, have had to contend with a disappointing first half of the year as post-COVID momentum in the world's second-biggest economy loses steam. In their earnings calls this week, both card giants said travel in China was nowhere near pre-pandemic levels. "Looking at Mainland China specifically, cross-border travel continued to improve but remains well below 2019 levels," said Vasant Prabhu, Visa's chief financial officer. His counterpart at Mastercard, Sachin Mehra, also said there was further room for travel recovery in China. Reuters GraphicsInbound cross-border travel to China stood at nearly 50% of 2019 levels, while outbound travel was nearly 70%, the company said.

Persons: Benoit Tessier, Vasant Prabhu, Sachin Mehra, Edward Jones, Logan Purk, Manya Saini, Niket, Krishna Chandra Organizations: REUTERS, Mastercard, Reuters, U.S, Reuters Graphics Visa, Thomson Locations: China, Mainland China, U.S . Federal, Bengaluru

The rate hike, which was in line market expectations, took the benchmark overnight interest rate to between 5.25% and 5.50% - the highest level since around the global financial crisis in 2007-2009. [1/3]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. "Powell and the committee are taking a very data-dependent approach to future rate hikes," said Angelo Kourkafas, investment strategist at Edward Jones. U.S. Treasury yields slipped in choppy trading after the Fed's rate decision. The yield on 10-year Treasury notes was down at 3.865%, while the two-year yield, which typically reflects interest rate expectations, fell to 4.8433%.

Persons: Jerome Powell, Lamar Villere, Villere, Brendan McDermid, Powell, Angelo Kourkafas, Edward Jones, Chibuike Oguh, Sinead Carew, Chizu Nomiyama, Jonathan Oatis Organizations: YORK, Global, Federal Reserve, Fed, Villere, New York Stock Exchange, REUTERS, Nasdaq, Dow Jones, Treasury, Brent, U.S, West Texas, Thomson Locations: New Orleans, Europe, Germany, France, New York City, U.S, New York

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. The Fed lifted its benchmark overnight interest rate by a widely expected 25 basis points, marking the 11th hike in the U.S. central bank's past 12 policy meetings. As of Wednesday, 77.6% of the 152 companies listed on the S&P 500 (.SPX) that have reported earnings have beaten analysts' expectations as compiled by Refinitiv. Advancing issues outnumbered decliners on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored advancers. The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 72 new highs and 92 new lows.

Persons: Brendan McDermid, Dow, Jerome Powell, Goldman Sachs, Angelo Kourfafas, Edward Jones, Brent Schutte, David Bahnsen, Jim Vena, Lance Fritz, Wells Fargo, decliners, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Boeing, Dow, Nasdaq, Federal, Fed, Northwestern Mutual Wealth Management, Google, NYSE, Bahnsen, Meta, Facebook, Refinitiv, Reuters Graphics Reuters, Dow Jones, Union Pacific, Thomson Locations: New York City, U.S, Bengaluru

☆ AmEx's profit view dampens strong results from record card spending
▼ + stars: | 2023-07-21 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +2 min

"Results were strong, though spending growth is moderating from unsustainably high rates in 2022," said Edward Jones analyst Kyle Sanders. These worries took the shine off a record quarter in which spending surged to $426.6 billion despite rapid interest rate hikes by the U.S. central bank ushering in an end to easy money. "Our base is changing in terms of more Millennials and Gen Z who will grow with us. Millennial and Gen Z were its fastest-growing customer base as their combined spending surged 21% in the U.S. from a year ago. Despite that, AmEx just reaffirmed its per-share profit forecast of $11 to $11.40 for 2023 after reporting a market-beating profit of $2.89 per share.

Persons: Edward Jones, Kyle Sanders, Gen Z, Stephen Squeri, Gen, Jeff Campbell, AmEx, Campbell, Christophe Le Caillec, Manya Saini, Anil D'Silva, Arun Koyyur Organizations: American Express, U.S, RBC Capital Markets, Reuters, Thomson Locations: U.S, Bengaluru

July 18 (Reuters) - Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment. Morgan Stanley (MS.N) shares rose more than 6%, shrugging off the 14% drop in profits. Excluding one-off items, Morgan Stanley earned $1.24 a share on revenue of $13.46 billion, comfortably beating estimates of $1.15 a share on $13.08 billion revenue, according to data from Refinitiv IBES. Still, "we expect investment banking to lead the recovery in the next quarter," she said. The Wall Street giant followed rivals including JPMorgan Chase and Citigroup in reporting tepid trading results.

Persons: Morgan, Morgan Stanley, James Gorman, Brennan Hawken‎, Sharon Yeshaya, Morgan Stanley's, James Shanahan, Edward Jones, Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, Tatiana Bautzer, Mehnaz Yasmin, Niket, Lananh Nguyen, Arun Koyyur, Louise Heavens, Nick Zieminski Organizations: UBS, JPMorgan Chase, Citigroup, Bank of America, Reuters, Thomson Locations: New York, Bengaluru

☆ Market gains could start broadening into cyclical sectors like financials: Edward Jones' Mahajan
▼ + stars: | 2023-07-18 | 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 EmailMarket gains could start broadening into cyclical sectors like financials: Edward Jones' MahajanMona Mahajan, Edward Jones senior investment strategist, and Sameer Samana, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to talk earnings, the banking sector, the markets as a whole and more.

Persons: Edward Jones, Mona Mahajan, Sameer Samana Organizations: Email, Wells Fargo Investment Institute Locations: Wells Fargo

☆ AT&T, Verizon stocks pare back losses after hitting decades lows on toxic lead cable investigation
▼ + stars: | 2023-07-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

That prompted a flurry of downgrades from analysts that in turn helped spur a steep sell-off in telecom stocks. Since the investigation’s publication, AT&T shares have tumbled roughly 14%, Verizon fell 10% and Frontier Communications slid 33%. AT&T shares on Tuesday fell to $13.45, its lowest closing price since 1993. Verizon shares fell 7.5% to $31.46 on Monday to their lowest closing level since 2010 before paring back their losses slightly on Tuesday. Lawmakers have demanded action to further investigate the network of toxic lead cables in the wake of the release.

Persons: JPMorgan Chase, Edward Jones, David Heger, paring, Akin, ” Neil Mack, Democratic Sen, Edward Markey, Jonathan Spalter, ” Markey, USTelecom Organizations: CNN —, Verizon, AT, Bell, Frontier Communications, JPMorgan, CNN, Moody’s Investors Service, Lawmakers, Democratic Locations: United States, U.S

July 14 (Reuters) - BlackRock Inc (BLK.N), the world's biggest asset manager, handily beat second-quarter profit estimates but showed a slowdown in money inflows, sending shares down about 2%. Net inflows for the quarter were $80 billion, down from $89.6 billion a year ago and $110 billion in the first quarter, amid heightened economic uncertainties. "The firm's flow mix remains skewed toward lower fee strategies, which continue to weigh on organic base fee growth," Goldman Sachs said in a note to clients. Citigroup described the results as "a bit of a mixed quarter," given BlackRock's profit beat but lower-than-expected inflows. Shares in BlackRock are up 2.85% this year, underperforming the S&P 500 index (.SPX), which is up almost 18%.

Persons: Refinitiv IBES, Kyle Sanders, Edward Jones, Goldman Sachs, BlackRock, Larry Fink, Fink, Martin Small, Jaiveer Singh, Chizu Nomiyama, Mark Potter, Anna Driver Organizations: BlackRock Inc, BlackRock, Citigroup, CNBC, Thomson Locations: New York, BlackRock, Bengaluru

July 14 (Reuters) - BlackRock Inc (BLK.N) on Friday beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Net inflows for the quarter for BlackRock were at $80 billion, down from $89.6 billion a year ago. The company's adjusted profit of $9.28 per share leapfrogged analysts' estimates of $8.46, according to Refinitiv IBES. Fink in an investor event last month said that he is not planning to leave the asset manager "any time soon". Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyle Sanders, Edward Jones, Refinitiv IBES, Larry Fink, Fink, Jaiveer Singh, Maju Samuel, Chizu Organizations: BlackRock Inc, The, Revenue, BlackRock, Securities, Exchange, Thomson Locations: The New York, BlackRock, Bengaluru

☆ Wall St ends up, extends recent gains on cooling US inflation
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. Technology-related shares provided the most support to the S&P 500, and an index of tech-focused shares including megacaps (.NYFANG) gained 2.7% and registered a record high close. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 51 new 52-week highs and one new low; the Nasdaq Composite recorded 135 new highs and 39 new lows.

Persons: Mona Mahajan, Edward Jones, Brendan McDermid, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, PPI, . Technology, Dow Jones, Nvidia, New York Stock Exchange, REUTERS, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, U.S, NYSE, Thomson Locations: U.S, Philadelphia, New York City, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Wall St ends up, extends recent gains after producer prices data
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. "PPI is another confirmation this week that inflation continues to trend in the right direction even as we see better overall labor market and consumer data. According to preliminary data, the S&P 500 (.SPX) gained 37.73 points, or 0.84%, to end at 4,509.89 points, while the Nasdaq Composite (.IXIC) gained 219.35 points, or 1.58%, to 14,138.31. Delta Air Lines (DAL.N) shares gained after it lifted its full-year profit outlook following stronger-than-expected second-quarter earnings on a relentless post-pandemic travel boom.

Persons: Mona Mahajan, Edward Jones, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Delta Air Lines, Federal Reserve, PPI, Nasdaq, Dow Jones, Nvidia, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, Thomson Locations: Philadelphia, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Inside Bob Iger's Disney contract extension: a CEO moving to protect his legacy and get succession right this time
▼ + stars: | 2023-07-13 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +5 min

Disney extended CEO Bob Iger's contract for 2 years, through the end of 2026. Company watchers won't be shocked by the move, since Iger extended his previous tenure in the role many times. Insiders said he wants to protect his legacy and stabilize the business, especially after the exit of its CFO. Disney just extended Bob Iger's contract for two more years, through 2026, the company announced today. Iger pledged at the time to prioritize finding a successor, but he has extended his contract before — four times during his first 15-year tenure.

Persons: Bob Iger's, Iger, Bob Chapek, Dave Heger, Edward Jones, Heger, Christian Knaebel, Christine McCarthy, Disney, — here's, Chapek, Jay Rasulo, Kevin Mayer, Tom Staggs, Dana Walden, Alan Bergman, Iger's reorg, Dana, who's, Bergman, Walden, Meta execs Sheryl Sandberg, Carolyn Everson, Josh D'Amaro, Jimmy Pitaro, Adam Silver, Silver, Andrew Wilson Organizations: Disney, Hollywood, Writers Guild of America, SAG, Longtime, Disney Entertainment, Pixar, ESPN, National Basketball Association, EA Locations: Iger

☆ WHO decision on aspartame could hurt diet soda sales or lead to new drink formulas
▼ + stars: | 2023-07-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Although full-calorie options still dominate the soda segment, diet sodas now represent more than a quarter of sales. Diet Coke, Coke Zero, Pepsi Zero Sugar and Diet Mountain Dew all contain aspartame. For most adults, that means drinking less than nine to 14 cans of diet soda every day. Even so, Edward Jones analyst Brittany Quatrochi said she isn't expecting a big hit to diet soda sales. Besides diet sodas, aspartame can also be found in a variety of foods, including breakfast cereals, chewing gum and ice cream.

Persons: Coke, sodas, Cowen, TD Cowen, Vivien Azer, Garrett Nelson, Gerald Pascarelli, Francesco Branca, Hugh Johnston, CFRA's Nelson, Edward Jones, Brittany Quatrochi, isn't, Keurig Dr Pepper, Kevin Keane Organizations: Health, International Agency for Research, Cancer, World Health Organization, Pepsi, WHO, CNBC, PepsiCo, Reuters, Diet Pepsi, Pepsi Zero, Coke, American Beverage Association, Keurig, ABA Locations: Diet, Coke

☆ We'll see a broadening of market participation going into 2024, says Edward Jones' Monahajan
▼ + stars: | 2023-07-05 | 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 EmailWe'll see a broadening of market participation going into 2024, says Edward Jones' MonahajanMona Monahajan, Edward Jones senior investment strategist, and JJ Kinahan, IG North America CEO, join 'Squawk Box' to discuss the latest market trends, expectations for the second half, and more.

Persons: Edward Jones, Mona Monahajan, JJ Kinahan Organizations: IG North America

☆ Wall St Week Ahead After first-half rally, stocks' July winning streak on the line
▼ + stars: | 2023-06-30 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 defied recession fears and a U.S. banking crisis to notch a 15.9% gain in the first half. The S&P 500 (.SPX) has posted a positive return in eight consecutive Julys, and the tech-heavy Nasdaq 100 index (.NDX) has climbed in July for 15 straight years. S&P 500 companies are expected to post an overall drop in earnings of 5.7% from the year-earlier period, according to Refinitiv IBES. The S&P 500 is trading at 19.1 times forward earnings estimates, well above its historic average P/E of 15.6 times, according to Refinitiv Datastream. "At some point, this move in interest rates has got to have some consequences for the markets," Matt Maley, chief market strategist at Miller Tabak, said in a note on Friday.

Persons: Brendan McDermid, ”, Mona Mahajan, Edward Jones, Omar Aguilar, Refinitiv IBES, “, John Lynch, Refinitiv, Matt Maley, Miller Tabak, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Federal, Nasdaq, ” Reuters, American Association of, Fed, Schwab Asset Management, Apple, Microsoft, Nvidia, Comerica Wealth Management, Treasury, Deutsche Bank, UBS Global Wealth Management, UBS, Thomson Locations: New York City, U.S

Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) closed up 2.6%. The Dow Jones Industrial Average (.DJI) rose 269.76 points, or 0.8%, to 34,122.42, the S&P 500 (.SPX) gained 19.58 points, or 0.45%, to 4,396.44 and the Nasdaq Composite (.IXIC) dropped 0.42 points to 13,591.33. The S&P 500 posted 44 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 90 new lows.

Persons: Mona Mahajan, Louis, Edward Jones, Russell, Jerome Powell, Brendan McDermid, Air Jordan, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: Dow, Nasdaq, St, Dow Jones, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Reuters, Nvidia, Microsoft, SOX, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Air, LeBron, NYSE, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

[1/5] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - The Dow and the S&P 500 rose on Thursday as bank shares rallied after major lenders cleared the Federal Reserve's annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank. Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. Buyers shied away from rate-sensitive growth sectors due to concerns that the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) gained.

Persons: Brendan McDermid, Buyers, Mona Mahajan, Louis, Edward Jones, Jerome Powell, underpeformed, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, St, Nasdaq, Dow Jones, Traders, Reuters, Microsoft, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

"It would be fair to characterize Charles Schwab as a financial services supermarket," Michael Wong, director of North American equity research and financial services at Morningstar, told CNBC. "Anything that you want, you can find in Charles Schwab's platform." Charles Schwab was among the firms that benefited from the growth of retail investing during the coronavirus pandemic, and it’s now facing the consequences of Federal Reserve’s aggressive interest rate hikes. Charles Schwab told CNBC it was unable to participate in this documentary. Watch the video above to learn more about how Charles Schwab battled the ever-evolving financial services market – from fees to fintech – and how the reward doesn’t come without the risk.

Persons: Charles Schwab, Michael Wong, Charles Schwab's, ” Alex Fitch, Edward Jones, Morgan Stanley, Charles Schwab’s, fintech – Organizations: Charles Schwab Corp, North, Morningstar, CNBC, Oakmark Equity, Income, Fidelity, Interactive, Stifel, JPMorgan, UBS, Robinhood Locations: United States

☆ Disney's parks division is driving big profits, a bright spot as the streaming biz struggles and ESPN's future is unclear. Here's how that could factor into Bob Iger's CEO succession plans.
▼ + stars: | 2023-06-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Disney CEO Bob Iger has reorganized the company into 3 core units: entertainment, ESPN, and parks. Parks' growing prominence comes as the company faces looming decisions over Iger's CEO. Travel bans "dramatically impacted" results for Disney Parks during the intense early years of the coronavirus pandemic, Heger noted, adding that parks are now generating more revenue and operating profit than they did in pre-COVID times. The parks' success is "helping to offset" losses from Disney's "DTC," or direct-to-consumer streaming business, Heger added. Josh D'Amaro, the current chairman for Disney Parks, Experiences, and Products, would be a likely figure appearing on any shortlist of CEO contenders.

Persons: Bob Iger, Parks, It's, Dave Heger, Edward Jones, Heger, AECOM, Iger, Josh D'Amaro, Christine McCarthy —, Iger's, Bob Chapek, Ron DeSantis, Chapek, Hollywood creatives, Tom Staggs, Iger —, —, Chapek's, it's, you've, Jeffery Merola, he'd, DeSantis, Reed Alexander Organizations: Disney, ESPN, Disney Parks, Walt Disney, Disneyland, Products, Florida Gov, Hollywood, Los Angeles Times, Sunshine State Locations: Tokyo, Shanghai, Orlando , Florida, Anaheim , California, execs, Chapek, Syracuse , New York, Orlando

☆ Watch CNBC's full interview with Tom Lee and Mona Mahajan on Thursday's market action
▼ + stars: | 2023-06-15 | 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 Tom Lee and Mona Mahajan on Thursday's market actionTom Lee, Fundstrat Global Advisors co-founder, and Mona Mahajan, Edward Jones senior investment strategist, join 'Closing Bell Overtime' to recap today's market movement, Adobe earnings, and what the Federal Reserve's next move might be.

Persons: Tom Lee, Mona Mahajan, Edward Jones Organizations: Fundstrat Global Advisors, Federal

☆ Stock market doesn't need soft landing to expand, says Edward Jones' Mona Mahajan
▼ + stars: | 2023-06-15 | 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 EmailStock market doesn't need soft landing to expand, says Edward Jones' Mona MahajanTom Lee, Fundstrat Global Advisors co-founder, and Mona Mahajan, Edward Jones senior investment strategist, join 'Closing Bell Overtime' to recap today's market movement, Adobe earnings, and what the Federal Reserve's next move might be.

Persons: Edward Jones, Mona Mahajan Tom Lee, Mona Mahajan Organizations: Email, Fundstrat Global Advisors, Federal

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

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