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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with SoFi's Liz Young and Virtus' Joe TerranovaLiz Young, SoFi head of investment strategy, and Joe Terranova, Virtus Investment Partners chief market strategist, join 'Closing Bell' to discuss Thursday's equity rally, the market's 'answer' to the Federal Reserve's rate announcement, and Young's base case for a recession.
Persons: SoFi's Liz Young, Joe Terranova Liz Young, Joe Terranova Organizations: Virtus, Virtus Investment Partners
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Persons: , You'll, they'll, Goldman Sachs, Avant, you've Organizations: Service, Social, National Credit Union Administration, PenFed Credit, Chevron Locations: Massachusetts , Ohio, New Mexico, Georgia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm not sold the Federal Reserve will hike again, says SoFi's Liz YoungLiz Young, SoFi head of investment strategy, and Joe Terranova, Virtus Investment Partners chief market strategist, join 'Closing Bell' to discuss Thursday's equity rally, the market's 'answer' to the Federal Reserve's rate announcement, and Young's base case for a recession.
Persons: SoFi's Liz Young Liz Young, Joe Terranova Organizations: Virtus Investment Partners
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market not showing durability outside of mega cap names, says SoFi's Liz YoungJoe Terranova, Liz Young, Jason Snipe, Steve Weiss join 'Halftime Report' to discuss mega cap momentum, changing trends in consumer discretionary spending, and the Apple downgrade from Loop Capital.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoFi's Liz Young says she expects to see more dissent among Fed officials over rate hikesLiz Young, SoFi head of investment strategy, joins 'Closing Bell' to discuss the Fed's hawkish comments on rate hikes and what it means for the markets.
Federal student loan debt repayments are expected to resume later this year – and one winning stock could emerge from the fallout, according to Bank of America. Payments on federal student loans have been on hold since 2020 as part of pandemic relief measures. The Supreme Court is weighing President Joe Biden's student loan forgiveness plan, and repayments on federal student loans are expected to resume 60 days after the court makes its decision. But SoFi Technologies could benefit from the resumption of loan payments as borrowers try to refinance their federal student loans, Bhatia said. Refinancing may make sense if the original federal loans have a higher rate than what's available through a private lender.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bears are mathematically and intellectually wrong about SoFi's loans, says Mizuho's Dan DolevDan Dolev, managing director at Mizuho Securities, joins 'The Exchange' to discuss skepticism surrounding SoFi's loan performance, the bullish case for SoFi, and caution around prospects for fintech.
Student-loan lender SoFi filed a lawsuit to end the student-loan payment pause in March. The Education Department filed its response on Monday night, asking a court to dismiss the case. In March, SoFi — a student-loan refinancing company — sued the Education Department and asked the court to end the ongoing student-loan payment pause. "Indeed, information considered by the Department showed that even in November 2022, the economic harms of the pandemic lingered, and the nascent recovery was fragile for many student-loan borrowers." Additionally, the department wrote in its complaint that it did consider "various alternatives" to the payment pause extension it ended up enacting.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDifficult to make bull case with recent Fed rate hikes, says SoFi's Liz YoungLiz Young, SoFi head of investment strategy, joins 'Squawk Box' to discuss market warning signs, the disconnect between the market and the Fed, and whether it's a recipe for more volatility.
Charles Schwab -- Stock in the brokerage firm added 2.4% in premarket trading. SoFi Technologies -- The stock sank nearly 6% in the premarket following a downgrade by Wedbush to underperform from neutral. The Wall Street firm said SoFi's fee income may be reaching a tipping point and it may need to raise capital this year to support growth. Dupont De Nemours -- Shares added 2.7% in premarket trading after Deutsche Bank upgraded the chemical company to buy from hold. The Wall Street firm said the stock was trading at a 50% discount to its peers.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed's 25 basis point interest rate hike was not a surprise to anybody, says SoFi's Liz YoungLiz Young, SoFi head of investment strategy, joins 'Closing Bell' to discuss the Federal Reserve's plan to raise interest rates another 25 basis points.
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On Thursday's "Ask Halftime," our traders answered questions from CNBC Pro subscribers about stocks, bonds and ETFs during this period of heightened market volatility, including whether to buy, sell or hold individual names. Jason Snipe of Odyssey Capital Advisors discussed Marriott and why he expects there is still upside for the hotel stock. Steve Weiss of Short Hills Capital owns Moderna and said he sees a recovery in the stock over the next few months as it seeks approval for its RSV vaccine. With the expectation that the Federal Reserve will cut rates later this year, SoFi's Liz Young suggested investors start unloading their short-term bonds by the end of this summer.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed should pause rate hikes in May and wait for more data, says SoFi's Liz YoungLiz Young, SoFi head of investment strategy, joins 'Squawk Box' to discuss how Young absorbed the March retail sales data, Young's thoughts on the morning's bank earnings and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with SoFi's Liz Young and NFJ's John MowreyLiz Young, SoFi head of investment strategy, and John Mowrey, NFJ Investment Group CIO, join 'Closing Bell' to discuss Young's investing take on the markets, why now may be the time to take risks and more.
There are downward earnings revisions coming: SoFi's Liz Young
  + stars: | 2023-04-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are downward earnings revisions coming: SoFi's Liz YoungLiz Young, SoFi head of investment strategy, and John Mowrey, NFJ Investment Group CIO, join 'Closing Bell' to discuss Young's investing take on the markets, why now may be the time to take risks and more.
Meta PlatformsWeakness in digital ad spending due to macro pressures has hit social media giant Meta Platforms (META) over the recent quarters. SoFi TechnologiesNext on our list is fintech firm SoFi Technologies (SOFI), which offers digital financial services to over 5.2 million members. The acquisition is expected to drive SoFi's mortgage growth and operational efficiencies and broaden its mortgage product offerings. (See SoFi Insider Trading Activity on TipRanks)PVHApparel company PVH (PVH), which owns popular brands like Calvin Klein and Tommy Hilfiger, delivered better-than-expected results for the fourth quarter of fiscal 2022. The analyst sees "an attractive risk reward profile" in PVH stock based on the company's earnings growth potential and current valuation.
Chip stocks made a breathtaking comeback in the first quarter, but don't be surprised if the rally gives up some of its gains, investors warn. The semiconductor sector on Friday wrapped up its best quarter since 2020 as investors rotated back into the downtrodden industry, with names like Nvidia notching its best quarterly stretch since 2001. The recent tear in semiconductor stocks brings the sector into overbought territory versus non-financial cyclicals, said Credit Suisse's Andrew Garthwaite in a recent note. Like many investors, Niles views Nvidia as a dominant AI play despite its rich valuation . While the stock's given those gains, many investors viewed the print as a sign of a bottom.
A nonprofit filed a lawsuit on Thursday to end Biden's student-loan payment pause and prevent another extension. It comes after SoFi Bank filed a lawsuit last month to end the payment pause. The lawsuit targets Biden's continued extensions of the student-loan payment pause, and it asks the federal court in the Eastern District of Michigan to end the current pause and prevent Biden from issuing a further extension. As a result, Biden extended the student-loan payment pause, with waived interest, through 60 days after June 30, or 60 days after the Supreme Court issues a final decision on the relief's legality, whichever happens first. The bank cited revenue loss that is said was directly caused by the continued payment pause extensions.
In March, SoFi Bank filed a lawsuit to end the latest extension of the student-loan payment pause. SoFi argued in its complaint that it has suffered financial harm directly resulting from the payment pause. "Indeed, your company has thrived during the pandemic payment pause, and you have been richly rewarded. "SoFi's lawsuit against ED is a dangerous and cynical ploy to prevent millions of borrowers from obtaining relief," they added. Additionally, as Warren and Pressley referenced, the lawsuit was not entirely unexpected — Noto said in February that the latest payment pause extension will "subsidize people that don't need it."
After the worst year for tech since 2008 , many investors questioned whether the market could move higher in the new year without the sector's cooperation. Names such as Apple , Microsoft and Amazon gained about 27%, 20% and 23% in the first quarter, respectively, as yields pushed lower. Amid this backdrop, Alphabet shares gained 17.6% in the first quarter as the company launched it's Bard chatbot rival. Not all investors view big tech so optimistically heading into the new quarter. Much of the surge in tech stocks stems from the oversold conditions created during 2022's carnage, positioning many of these stocks for a bounce, Meeks said.
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While 2023 won't be a repeat of 2008, a downturn could see stocks dive more than 25%, said Liz Young. "I also am hard pressed to imagine a world where bank failures and corporate liquidity issues are good news." Last year, the S&P 500 fell roughly 25% from peak to trough, which signaled a bear market but not quite recession territory, the strategist explained. Meanwhile, Young pointed out, during the Great Financial Crisis 15 years ago, stocks plunged 58% from peak to trough. "I think confidence is something that's a risk and is underappreciated by the stock market right now," she said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Special Pro Talks: How top women in finance are putting money to workCNBC Pro is rounding out Women's History Month with three of the best female investors around. CNBC "Halftime Report" Supervising Producer, Patricia Martell, sits down with Requisite Capital Management's Bryn Talkington, Gilman Hill Asset Management's Jenny Harrington, and SoFi's Liz Young to discuss their impact on the industry, how they are investing in today's market, and to answer your questions.
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