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☆ Berkshire invests in Capital One, sheds Bank of NY Mellon
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Monday said it has begun investing in Capital One Financial Corp (COF.N) and no longer has a stake in Bank of New York Mellon Corp (BK.N). Berkshire made its disclosures in a regulatory filing listing its U.S.-listed stocks as of March 31. Capital One shares rose 5.3% in after-hours trading, following Berkshire's disclosure of an approximately $954 million stake in the bank. The filing does not identify which investments are Buffett's and which were made by his portfolio managers Todd Combs and Ted Weschler, though larger investments are usually Buffett's. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire invests in Capital One, sheds four stocks
▼ + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.

Thailand was the most popular outbound destination for Chinese travelers during the May labour day holiday, data from website Trip.com showed, followed by Japan and South Korea. "There is definitely demand from China for properties in Thailand," said Mesak Chunharakchot, the president of the Thai Real Estate Association. "Chinese are buying houses, sending their children to international schools and having their parents come stay in Thailand to take care of the grandkids." Nearly 270,000 Chinese tourists visited Thailand in March, government data shows, a three-year high, though well below the figure of 985,227 in March 2019, before the pandemic took hold. Therefore some would sell one of the houses in China and buy a property here for retirement."

☆ Warren Buffett set for 59th Berkshire Hathaway shareholder marathon as big questions loom
▼ + stars: | 2023-05-06 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." "Charlie is 99 and Warren turns 93 on Aug. 30," Lountzis added, "and you just don't know how many more you're going to have." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Google was CNBC's Stock Draft's best pick, says BK Asset Management's Boris Schlossberg
▼ + stars: | 2023-04-28 | 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 EmailGoogle was CNBC's Stock Draft's best pick, says BK Asset Management's Boris SchlossbergBoris Schlossberg, BK Asset Management managing director, joins 'Power Lunch' for Three Stock Lunch to recap the good, the bad, and the overlooked of CNBC's Stock Draft.

REUTERS/Marco BelloNEW YORK, April 27 (Reuters) - JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon sent a clear message to employees this month: get back to the office. The largest U.S. lender's employees inundated an internal messaging forum with criticism after its operating committee posted an edict entitled, "The importance of being together." JPMorgan first called employees back to the office on a rotational basis in mid-2021 after months of pandemic shutdowns. "We don't want to punish everybody because of that, but people agreed to do three days a week; we expect three days a week." Many branch employees, building staff and other workers have reported to offices throughout the pandemic without the option to work remotely.

☆ Wall Street aces its real-life stress test
▼ + stars: | 2023-04-20 | by ( John Foley | ) www.reuters.com time to read: +7 min

One flaw in this plan is that the Federal Reserve, which designs the stress test, has tended to assume that when bad times come, interest rates would fall, not rise. Because their clients also fear sudden shifts in interest rates, they call on fixed-income securities desks to help offlay the risk. One clear outcome of higher interest rates is that banks are lending less, and more carefully. Reuters Graphics Reuters GraphicsFollow @johnsfoley on TwitterCONTEXT NEWSLarge U.S. banks reported their first-quarter earnings between April 14 and April 19. Both said that trading revenue had declined from first quarter 2022, but it was substantially higher than the last three months of the year.

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

☆ Morning Bid: Global pulse picks up, rates creep higher again
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike DolanWith investors largely assuming recession ahead, an accelerating global economic pulse challenges the narrative and is seeing interest rates tick back higher again as the March banking wobble subsides. With March starts and permits numbers out later, there was also signs of a troughing in the U.S. housing market. Confidence among U.S. single-family homebuilders improved for a fourth straight month in April as a dearth of previously owned homes and falling mortgage rates boosted demand. Wall St futures were higher again on Tuesday, with European bourses and most Asia indices advancing too. With euro zone and UK rate expectations pushing higher too, the dollar slipped back again against the euro and sterling .

☆ U.S. regional banks hit by deposit flight as clients seek higher returns
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view of the Charles Schwab office location in Manhattan, New York, U.S., November 15, 2021. Deposits at State Street Corp (STT.N) and M&T Bank Corp (MTB.N) fell 3% each, while those at Charles Schwab Corp (SCHW.N) shrank 11% from the prior quarter. Both Schwab and M&T Bank rode a surge in interest income to beat profit expectations, but custodian bank State Street fell short after an outflow of client funds hurt its fees. Its Chief Executive Officer Walter Bettinger addressed commentary about portfolios of debt securities held by banks, including Schwab, which are disclosed as unrealized losses in their earnings. M&T Bank shares were up nearly 6% at $123.70 while State Street stock plunged 11% to $70.98, dragging down peers Northern Trust Corp (NTRS.O) and Bank of New York Mellon Corp (BK.N).

☆ The market anxiety that reduced consumer spending is starting to ease, strategist says
▼ + stars: | 2023-04-17 | 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 EmailThe market anxiety that reduced consumer spending is starting to ease, strategist saysKathy Lien of BK Asset Management says the market is overly aggressive in its expectations for the U.S. Federal Reserve to start lowering interest rates.

☆ Earnings from Club consumer, health and bank stocks will be our main focus in the week ahead
▼ + stars: | 2023-04-15 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Corporate earnings won't have to share the spotlight with major inflation data in the week ahead as they did during this past week's up-and-down market. From Morgan Stanley, we suspect Friday's bank earnings foreshadow a good release. This past week, we spoke about the importance of listening to what industry players aside from those you're invested in as a way to analyze the competitive landscape. Here are some of those other earnings reports and the economic numbers out in the week ahead. Club trades of the week We made just one trade this past week, in a market that was overbought , purchasing 25 shares of Palo Alto Networks (PANW).

[1/2] Thailand's Prime Minister Prayuth Chan-ocha attends the draw for the party's list usage for the upcoming election ahead an event by the election commission in Bangkok, Thailand, April 4, 2023. The election broadly pits political groups backed by the royalist military and Bangkok establishment against an opposition led by the populist Pheu Thai party, which together with its previous incarnations has won every election since 2001. Pita Limjaroenrat, another opposition figure, was nominated by his Move Forward party, popular among young voters. Political experts say the generals would have an advantage in the race, having led the junta that appointed the current slate of senators. Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Here are Friday's biggest analyst calls: Boeing, Tesla, Disney, Generac, Wells Fargo, Alphabet & more
▼ + stars: | 2023-03-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

UBS reiterates Wells Fargo and Bank of America as buy UBS said it sees a re-rating for bank stocks such as Wells and Bank of America. Morgan Stanley names Mercadolibre a top pick Morgan Stanley said it sees multiple growth drivers for the LatAm e-commerce company. Deutsche Bank reiterates Charles Schwab as buy Deutsche said it's standing by its buy rating on shares of Charles Schwab. UBS reiterates Disney as buy UBS said it thinks Disney will take a 100% ownership stake in Hulu and integrate it with Disney+. Morgan Stanley reiterates elf Beauty as overweight Morgan Stanley said it sees a long-term growth opportunity for the beauty company.

☆ China travel rebound bets turn toward airports, away from airlines
▼ + stars: | 2023-03-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"We are optimistic on a rebound in regional and international travel and continue to get exposure through airports and airplane leasing." Shares of Air China, China Eastern and China Southern have gained between 7% to 17% in the past four months, with Air China and China Southern trading above their 5-year average forward earnings, according to Refinitiv data. Airports under perform AirlinesIn the battle for Chinese travelers, local airlines are expected to fare better than regional airlines such as Qantas (QAN.AX), Singapore Airlines (SIAL.SI) and Cathay Pacific (0293.HK), mainly because Chinese airlines kept more widebody planes and staff ready. All three Chinese airlines are expected to swing to profit in 2023 after reporting big losses last year, according to Refinitiv data. Analysts expect Chinese airlines will see profits peak next year as international traffic makes a fuller rebound.

March 16 (Reuters) - First Republic Bank's (FRC.N) shares fell 17% in extended trading on Thursday, despite an unprecedented show of support in the bank from nearly a dozen of the world's largest financial institutions. The bank's shares, which had closed 10% higher after a volatile day that saw trading halted 17 times, slumped in after-market trading. Jason Ware, chief investment officer for Albion Financial Group, said the Dimon-led banking sector intervention on Thursday was a "shot in the arm of the system" but likely more was needed. A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. The bank's shares have been hit hard in recent days in the aftermath of the collapse of Silicon Valley Bank.

☆ Circle says $3.3 bln USDC reserves to be fully available on Monday
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

March 12 (Reuters) - Cryptocurrency firm Circle said on Sunday all its depositors with the collapsed Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) will be made whole and the $3.3 billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open Monday. Circle said it did not have any Stablecoin USD Coin (USDC) cash reserves at Signature Bank and that the token remained redeemable at 1:1 U.S. dollar peg. Further, the crypto firm announced an automated USDC minting and redemption through Cross River Bank, effective Monday, and said its expanded relationships also include USDC redemptions via BNY Mellon (BK.N). "Circle's USDC operations will open for business, including with new automated settlement via our new partnership with Cross River Bank," Chief Executive Officer Jeremy Allaire said in a tweet. USDC lost its dollar peg and slumped to an all-time low on Saturday before recovering most of its losses when Circle assured investors it would honor the peg despite exposure to failed Silicon Valley Bank.

☆ SVB debacle sparks rush to defensive options on fears of contagion
▼ + stars: | 2023-03-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement. With many stocks in the sector falling sharply on Friday, traders rushed in to defensive bets. SVB is battling cash burn due to declining deposits from startups struggling with a venture capital funding drought. While investors had largely shrugged off Silvergate’s troubles as strictly crypto-related, "(SVB Financial Group) was a giant wake-up call about the effects of rising rates and an inverted yield curve," Sosnick said. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Three-Stock Lunch: SNAP, DKS and DAL
▼ + stars: | 2023-03-07 | 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 EmailThree-Stock Lunch: SNAP, DKS and DALBoris Schlossberg, BK Asset Management managing director, joins 'Power Lunch' to discuss three favorable stocks to invest in during the current market downturn.

☆ There is a lot of 'wobbliness' in stock markets, says asset management firm
▼ + stars: | 2023-03-06 | 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 is a lot of 'wobbliness' in stock markets, says asset management firmKathy Lien of BK Asset Management discusses the U.S. Federal Reserve's monetary policy and the outlook for stock markets. She says "at this stage, what we're really questioning is whether or not we get that deep recession."

☆ Fed getting closer to terminal rate will taper the dollar rally, says BK Asset's Boris Schlossberg
▼ + stars: | 2023-03-01 | 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 EmailFed getting closer to terminal rate will taper the dollar rally, says BK Asset's Boris SchlossbergBoris Schlossberg, managing director at BK Asset Management, joins 'The Exchange' to discuss the surprising strength of Monster Beverages' stock, strengthening currency implications on equities and international stocks benefiting from central bank policies.

☆ Steer clear of DoorDash,says Boris Schlossberg
▼ + stars: | 2023-02-16 | 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 EmailSteer clear of DoorDash,says Boris SchlossbergShares of DoorDash have surged more than 20 percent this week. However, Boris Schlossberg, BK Asset Management managing director of FX strategy, warns investors to stay away from it.

☆ Why Boris Schlossberg favors Applied Materials on a long-term basis
▼ + stars: | 2023-02-16 | 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 EmailWhy Boris Schlossberg favors Applied Materials on a long-term basisBoris Schlossberg, BK Asset Management managing director of FX strategy, joins ‘Power Lunch’ to discuss his take on John Deere, DoorDash and Applied Materials.

☆ John Deere is a long-term play for me, says BK Asset Management’s Boris Schlossberg
▼ + stars: | 2023-02-16 | 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 EmailJohn Deere is a long-term play for me, says BK Asset Management’s Boris SchlossbergBoris Schlossberg, BK Asset Management managing director of FX strategy, and CNBC's Seema Moody join ‘Power Lunch’ to discuss John Deere ahead of Friday’s earnings reports.

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