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☆ Regional banks hurt by higher interest rates, saving for depositor defaults after Q3
▼ + stars: | 2023-10-24 | by ( Sergio Padilla | ) edition.cnn.com time to read: +6 min

Following the bank closings, many other regional banks have had to pay higher interest rates on deposits in order to prevent customers from heading towards the exit. Comerica saw declines in both provisions and net interest income and a 28% decline in net income compared to last year. Zions Bancorp had a dramatic decline as well, seeing yearly declines in net interest income and provisions. Going forward, if demand for loans dries up, that gets rid of a key source of income for regional banks. The SPDR S&P Regional Banking ETF, a benchmark for judging the performance of shares of regional banks, was down 2.9% over five days as of midday trading on Friday.

Persons: “, ” Nathan Stovall, Stovall, ” Stovall, Huntington Bancshares, ”, Jerome Powell, JPMorgan Chase Organizations: CNN, Signature Bank, First Republic Bank, Silicon Valley Bank, Federal, P Global Market Intelligence, US Bancorp, Financial Corp, T Bank Corp, PNC Financial Services Group, Inc, Commerce, Comerica, Zions Bancorp, Keycorp, Zions, T Bank, PNC, Regional Banking, Fed, Citi Group, Wells, JPMorgan Locations: Ohio, Dallas, Salt, Huntington, Commerce, Keycorp, Regions, Gaza, Wells Fargo

☆ ULA CEO says inaugural Vulcan rocket launch planned for December
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:52 ULA CEO says inaugural Vulcan rocket launch planned for December03:56 Royal Philips CEO: We see a strengthening of consumer demand and a upping of confidence04:54 Huntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are up04:29 HPE CEO Antonio Neri: Here's why AI is a big opportunity for us03:05 Advance SF launches 'It All Starts Here' campaign for San Francisco04:13 Ivanhoe Cambridge CEO: We have to be ready for the opportunity the day interest rates stabilize

Persons: ULA, Antonio Neri Organizations: Vulcan, Royal Philips, Huntington Bancshares, San Francisco, Ivanhoe Cambridge

☆ Libraries Are the New Front Line in America’s Mental-Health Crisis
▼ + stars: | 2023-10-23 | by ( Julie Wernau | Photography Rich-Joseph Facun For The Wall Street Journal | ) www.wsj.com time to read: 1 min

HUNTINGTON, W.Va.—When Michael Bare started working as a library assistant, he thought he would be helping with term papers or leading a book club. Instead, he spends most of his time assisting patrons in crisis with nowhere else to go. “They just want someone to talk to,” said Bare, 37, who has worked for four years at the library in this city of 46,000 on the Ohio River where West Virginia, Ohio and Kentucky meet.

Persons: HUNTINGTON, —, Michael Bare, “, ” Locations: W.Va, Ohio, West Virginia , Ohio, Kentucky

☆ Huntington Bancshares Profit Drops 8% as Interest Income Declines
▼ + stars: | 2023-10-20 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Huntington Bancshares posted an 8% drop in third-quarter profit on Friday, as the lender's income from interest on loans declined. U.S. banks are beginning to see the boost from rising benchmark interest rates fade as the Federal Reserve heads toward the end of its monetary policy tightening cycle. Growth in interest income has also been pressured by higher costs of deposits as customers withdraw cash to seek better returns in higher-yielding alternatives such as money market funds. Huntington said net interest income in the third quarter declined 3%, or $36 million, from the year-ago quarter. On a per-share basis, Huntington earned 35 cents in the three months ended Sept. 30, a drop of 4 cents from a year earlier.

Persons: Huntington Bancshares, Huntington, Manya Saini, Arun Koyyur Organizations: Reuters, Federal Reserve Locations: U.S, Bengaluru

☆ Morning Bid: Bond squeeze abates as Middle East war in focus
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. Dallas Fed cheif Lorie Logan added overnight that recent data and bond yield moves gave the central bank space. Reactions in the market were curious, however, with implied Fed policy rates in the futures market and two-year Treasury yields easing back even as 10-year yields chomped at the 5% bit. The resulting further disinversion of the yield curve to show the gap between two and 10-year yields at its lowest in a year is some testament to that. But with another nervous weekend around the Israel-Gaza war ahead, when markets are closed or illiquid, Friday trading has shifted the focus back to short-term safety hedges.

Persons: Lucas Jackson, Mike Dolan, Jerome Powell's, Powell, Lorie Logan, Huntington, Loretta Mester, Patrick Harker, Joe Biden, Charles Michel, Ursula von der Leyen, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Treasury, Atlanta Federal, Dallas Fed, Bank of Japan, L'Oreal, American Express, Interpublic, Schlumberger, Cleveland Federal, Philadelphia Fed, European Council, European Commission Reuters Graphics Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: U.S, Israel, Gaza, Europe, China, Comerica, Huntington Bancshares, Washington

Oct 20 (Reuters) - Shares of mid-sized U.S. banks fell on Friday after a string of earnings reports heightened investor concerns that the boost to lenders from the Federal Reserve's interest rate hikes was tapering off. Regions Financial (RF.N) dropped to the lowest level since March, when an industry crisis began following an outflow of deposits that engulfed three banks. The lender, shares of which were last down 11% at $14.71, said it expects net interest income (NII) in the fourth quarter to decline about 5% from current levels. Huntington Bancshares' (HBAN.O) stock dipped 1.3%, while Comerica (CMA.N) dropped 6.6%, dragging down the S&P 500 Banks index (.SPXBK) by 2.1%. Huntington Bancshares posted an 8% drop in third-quarter profit as interest income declined.

Persons: Wells, Mike Mayo, Mayo, Terry McEvoy, Huntington Bancshares, NII . Huntington Bancshares, Jaiveer Singh, Shilpi Majumdar Organizations: Regions, Regions Financial, Reuters, Stephens, Comerica, Third Bancorp, Thomson Locations: NII ., Bengaluru

☆ Huntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are up
▼ + stars: | 2023-10-20 | 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 EmailHuntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are upHuntington Bancshares CEO Stephen Steinour joins 'Power Lunch' to discuss their latest earnings, the impact of rising interest rates on regional banks, and more.

Persons: Huntington, Stephen Steinour Organizations: Huntington

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. But late in the afternoon, a senior Hamas official said the group is open to discussions over a possible truce with Israel. A recent surge in U.S. Treasury yields had pressured equities. Shares of the airlines, also hurt by rising oil prices, putting pressure on the S&P 500 Passenger Airlines index (.SPLRCALI). Exchange-traded funds exposed to Israel were selling off, with iShares MSCI Israel ETF falling along with the ARK Israel Innovative Technology ETF .

Persons: Brendan McDermid, Joe Biden, John Augustine, Augustine, Big advancers, iShares, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Dasgupta, Richard Chang Organizations: New York Stock Exchange, REUTERS, Hamas, U.S, Federal, Huntington National Bank, Columbus, Peoples, Treasury, Fund, Nasdaq, Dow Jones, United Airlines, Delta Air Lines, American Airlines, Airlines, Defense, Aerospace, Northrop Grumman, L3Harris Technologies, Exchange, ARK Israel Innovative Technology ETF, Thomson Locations: New York City, U.S, Israel, Palestinian, Gaza, Columbus , Ohio, Tel Aviv, New York, Bengaluru

☆ Peak crude demand is fueling anger and argument in the world of oil
▼ + stars: | 2023-10-05 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Peak oil demand refers to the point in time when the highest level of global crude demand is reached, which will be immediately followed by a permanent decline. This would theoretically decrease the need for investments in crude oil projects and make them less economical as other energy sources take over. "Such narratives only set the global energy system up to fail spectacularly," OPEC Secretary General Haitham al-Ghais said in a Sept. 14 statement. The IEA's roadmap calls for daily oil demand to be slashed by 25% in seven years' time. 'We all strive for the same thing'OPEC leaders, meanwhile, point to continuing yearly increases in oil demand, particularly from major emerging markets like China and India.

Persons: Leonard Ortiz, It's, Haitham, Ghais, Claudio Descalzi, Steve Sedgwick, Descalzi Organizations: MediaNews, Orange, Getty, International Energy Agency, OPEC, IEA, Abu Dhabi International Petroleum Exhibition Conference, Abu Dhabi International Progressive Energy Conference, United, Eni Locations: Huntington Beach , California, United Arab Emirates, UAE, OPEC, China, India

(AP) — Investor Charlie Munger, who's been Warren Buffett's right-hand man for more than five decades, has made a $40 million gift to a California museum that he's supported in the past. Munger gave 77 Class A Berkshire Hathaway shares to the Henry E. Huntington Library and Art Museum in San Marino, California, according to a filing with the Securities and Exchange Commission. A decade ago, he gave the Huntington museum nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center. Political Cartoons View All 1202 ImagesAfter his latest donation, Munger still holds 4,033 Class A Berkshire shares. Although Berkshire is based in Omaha, Nebraska, where Buffett lives, Munger has long lived in southern California, so much of his charitable giving has been focused on the West Coast.

Persons: Charlie Munger, who's, Warren Buffett's, he's, Munger, Henry E, Susan Turner, Lowe, Turner, Munger's, Buffett's, he'd, he'll, Buffett Organizations: Berkshire Hathaway, Huntington Library, Art Museum, Securities and Exchange Commission, Huntington, Berkshire, Buffett, BNSF Locations: OMAHA, Neb, California, San Marino , California, Huntington, Berkshire, Los Angeles, Omaha , Nebraska, West Coast

☆ What Kevin McCarthy's ousting as House Speaker means for markets
▼ + stars: | 2023-10-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The ousting of Republican Kevin McCarthy as House Speaker may not have an immediate impact on Wall Street, but it raises the likelihood of a government shutdown in the fourth quarter — which could inject more volatility into an already rattled market. Now, Congress also grapples with deciding its next speaker to lead the House. "The immediate market impact of McCarthy's ouster is relatively limited as the government is funded through November 17," said BTIG's Isaac Boltansky. "The near-term concern is that the House's paralysis will further complicate the already complicated calculus surrounding the forthcoming funding fight." Impact on the defense sector The removal of McCarthy could have an impact on the defense sector.

Persons: Kevin McCarthy, Goldman Sachs, Jan Hatzius, Ray Dalio, Isaac Boltansky, McCarthy, Scott Deuschle, Lockheed Martin, Northrop Grumman, Deuschle, — CNBC's Michael Bloom Organizations: Deutsche Bank, Lockheed, General Dynamics, Huntington Ingalls Industries Locations: Ukraine

☆ At Rosemead High, generations of students were harassed or groomed for sex as they tried to get an education
▼ + stars: | 2023-10-03 | by ( Matt Drange | ) www.businessinsider.com time to read: +87 min

Students were regularly subjected to sexual harassment by Hall, two former students told me. “I feel like so many of us were victims to the culture,” one former Rosemead student told Insider. Manipulation by a trusted adult has been passed like a virus to generations of Rosemead students. AdvertisementThe Shops at Santa Anita in Arcadia have long been a local haunt for Rosemead High students. We wondered aloud whether Masiello had harassed our mother the same way he'd done to generations of Rosemead students.

Persons: Clara didn't, She'd, Alex Rai, Eric Burgess, Burgess, Rai, Clara, they'd, Rai texted, she'd, who'd, Mark Abramson, Rai didn't, Leonard Levine, — I'm, Alex Rai wasn't, wouldn't, Rosemead, RubyAnna Sare, Sare, Harlan Mayne, Mayne, Dwain Crum, he'd, colluded, Crum, Robin Torres, Torres, Edward Zuniga, Zuniga, Paul Arevalo, Kristy, Jim Hall, Hall, groped, Angela, Diane Bladen, Bladen, Michael Sullivan, Sullivan, Denton Todd, Todd, Barbara, Arevalo, Barbara said, Matt Drange, Andrew Dalton, Dalton, ” Mark Abramson, I've, Will, Suzy, Carly Sanchez, Sanchez, aren't, —, David Pitts —, Pitts, Cindy, Scriabin, David Pitts, couldn't, That's, G, You'd, It's, Wing Chan, Chan, Louis Vuitton, Justin Rosien, Rosien, Rosien texted, cringed, Jim Hall's, Don Masiello, Paul Arevalo's, Sergio Caveyo, Caveyo, Brian Day, Alex, messaged, Brian Aliff, Aliff, Nichole, I'd, scoot, Michelle, Michelle's, Michelle didn't, Sarah, Brian Bristol, didn't, Nichole's, Weeks, Herbert Ortiz, Jaime, Ortiz, Richard Daniels, Daniels, Fidel Dominguez, Rosemead High's, Larry Callaham, Masiello, Jan Herzog, Herzog, Justin Fregoso, James Eder, Fregoso, me Eder, Eder, they've, Anne Bazile, Bazile, Unbeknownst, Arevalo —, Jonathan Howard, Credentialing, Howard, Elaine Rose, Rose, El Monte Union High School District Arevalo, he's, José Gallegos, Gallegos, Billie, Jo Grant, Grant, Michael Cohen, Cohen, Santa Claus, Oz, California's, haven't, Lupe Nieves, Nieves, reenacted, faxed, Harold Greenberg, Dan Morris, Morris, Alex Valdez, J, Valdez, alums, Heidi, Guillermo, she's, Clara wasn't, Mark Matthews, Matthews, Rai groped, Janine Salanitro, Zuniga hasn't, Felipe Salazar, Salazar, Andrew Dalton's, Matt Drange’s Organizations: Business, Rosemead High School, Rosemead High, Rosemead, El Monte Union High School District, Sheriff's Department, TA, El Monte Union High School, X's, Ford, Business Insider, Casa del Rey, Nissan, Nike, Bristol, Arroyo High School, High School, Los, Los Angeles County Sheriff's Department, Perris High School, of Education, Angeles County Sheriff's Department, California, California Department of Education, Monte Union High School, Valdez, Gabrielino, Rai, Los Angeles County Sheriff's, Temple City Locations: Southern California, Rosemead, San Gabriel Valley, San Gabriel, Los Angeles, Huntington Beach, Pasadena, Bladen, California, Arevalo, Utah, Santa, Arcadia, Beverly Hills, Burgess, Bristol, Arroyo, Perris, California's, Angeles, Cindy's, Los Angeles County, Temple

☆ Rising interest rates are hurting very broad swaths of the stock and bond markets
▼ + stars: | 2023-10-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Dozens of stocks and ETFs are hitting 52-week lows on the relentless rise in interest rates. Treasury bond ETFs: New lows iShares 1-3 Year Treasury Bond ETF (SHY) iShares 7-10 Year Treasury Bond ETF (IEF) iShares 10-20 Year Treasury Bond ETF (TLH) iShares 20+ Year Treasury Bond ETF (TLT) It's not just Treasury bonds. Broad bond ETFs: New lows Vanguard Total Bond Market ETF (BND) iShares Core US Aggregate Bond Fund (AGG) Higher rates are affecting other areas of the U.S. economy: look at clean energy and biotech It's simple. Clean energy ETFs: New lows iShares Global Clean Energy (ICLN) VanEck Low Carbon Energy ETF (SMOG) Invesco WilderHill Clean Energy ETF (PBW) Invesco Solar ETF (TAN) It's the same story with biotech. The SPDR S & P Biotech ETF (XBI) , which tracks an equal-weighted index of US biotechnology stocks, is at a 52-week low.

Persons: Schwab, It's Organizations: Vanguard Utilities, Treasury Bond ETF, Bond Market, Bond Fund, NextEra Energy Partners, Clean Energy, Carbon Energy, P Biotech, Biotechnology, Biotech, Verizon, SPDR Telecom, AT, Property, Comerica, Huntington Bancshares Locations: U.S, Orsted, Denmark, REITs

☆ Here are Friday's biggest analyst calls of the day: Tesla, Ford, Apple, Amazon, Disney, Nike, FedEx and more
▼ + stars: | 2023-09-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock. Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating on shares of Ford despite the United Auto Workers strike. Canaccord reiterates Tesla as buy Canaccord said its standing by its buy rating on Tesla ahead of its upcoming delivery numbers report. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said Amazon continues to be the "dominant" player in e-commerce.

Persons: Jefferies, Edward Jones downgrades Berkshire Hathaway, Edward Jones, Morgan Stanley, Ford, it's, Canaccord, Tesla, we've, Goldman Sachs, Raymond James, Bud Light, Apple, Amazon, Brinker, Stifel, Huntington Organizations: Jefferies, Ball Corporation, Bank of America, Disney, DIS, CYE23, Texas, 3Q23, Brands, Burger King, Ford, United Auto Workers, HSBC, FedEx, UPS, DHL, Nike, Immunology, " Bank of America, Anheuser, Busch InBev, of America, Apple, Citi Locations: Texas, QSR, North America, Asia, ZION

☆ EV startup Fisker raises $150 mln from existing investor
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Electric-vehicle maker Fisker Inc. introduces the PEAR electric vehicle in Huntington Beach, California, August 3, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 29 (Reuters) - Fisker Inc (FSR.N) has raised $150 million from an existing institutional investor through the issue of convertible bonds with an additional $550 million in funding available, the electric-vehicle startup said on Friday. The EV company expects to use the proceeds to ramp up deliveries. Fisker earlier this month reiterated its plan to increase deliveries of its flagship Ocean sports utility vehicle to 300 units per day later this year. The new investment follows a previously announced convertible notes offering of $340 million in July to the unnamed investor.

Persons: Mike Blake, Tanya Jain, Sriraj Organizations: Fisker Inc, REUTERS, Fisker, EV, Ocean, Thomson Locations: Huntington Beach , California, Bengaluru

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Amazon, GE, Sunrun, Micron, Microsoft & more
▼ + stars: | 2023-09-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday.

Persons: BTIG, Evercore, Teradata, Sunrun, it's, Ray Ban Smart, Needham, Wolfe, Bernstein, TSCO, Davidson's, Apple, Goldman Sachs, Goldman, Wendy's Organizations: Citi, UBS, Bank of America, Meta, Boeing, Davidson, Tractor Supply, JPMorgan, Huntington Ingalls Industries, Defense, Microsoft, Apple, Services, Digital Investment Management, Deutsche Bank, General Electric, Deutsche, GE, Emerson Electric Deutsche, Micron Locations: financials

☆ JPMorgan upgrades this military shipbuilder, says recent decline offers a buying opportunity
▼ + stars: | 2023-09-28 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It's time to buy U.S. military shipbuilder Huntington Ingalls Industries , JPMorgan said. The bank upgraded the military shipbuilding company to overweight from neutral in a Thursday note, although lowered its price target to $247 from $250. Huntington Ingalls shares have struggled this quarter, losing 10.7% in that time. However, analyst Seth Seifman sees this as a buying opportunity for investors. Analysts are split on the stock, with just five rating it a buy or a strong buy, Refinitiv data shows.

Persons: Huntington, Huntington Ingalls, Seth Seifman, Seifman, — CNBC's Michael Bloom Organizations: Huntington Ingalls Industries, JPMorgan, Defense, Navy, Navy Procurement

☆ Stocks making the biggest moves premarket: Fisker, Tesla, United Natural Foods and more
▼ + stars: | 2023-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Fisker — Shares of the vehicle development company surged 4.1% premarket after Bank of America reinstated coverage with a buy rating. Thor Industries — Shares of the recreational vehicle company slipped 3% premarket after it warned that it expects net sales to decline in the coming year. For the quarter just ended, Thor posted $1.68 in earnings per share on $2.74 billion of revenue. Analysts surveyed by LSEG were looking for 96 cents in earnings per share on $2.42 billion of revenue. United Natural Foods forecast earnings per share and adjusted EBITDA in the coming year below analysts' estimates, citing profitability headwinds, and fiscal fourth quarter revenue that missed analysts' $7.47 billion estimate, according to StreetAccount.

Persons: BofA, Fisker, Tesla, Morgan Stanley, DraftKings, Thor, —, Jesse Pound, Pia Singh Organizations: Bank of America, European Union, Barclays — Barclays, JPMorgan, Thor Industries, United Locations: Huntington Beach , California, China

Circuit Court of Appeals heard oral arguments in cases Thursday involving the coverage of gender-affirming care by North Carolina’s state employee health plan and the coverage of gender-affirming surgery by West Virginia Medicaid. During the proceedings, at least two judges said it’s likely the case will eventually reach the U.S. Supreme Court. Both states appealed separate lower court rulings that found the denial of gender-affirming care to be discriminatory and unconstitutional. “West Virginia is entitled to deference where they're going to take their limited resources," he said. Chambers certified the lawsuit as a class action, covering all transgender West Virginians who participate in Medicaid.

Persons: it’s, Tara Borelli, —, Borelli, John Knepper, Knepper, “, Caleb David, Virginia's, ”, Chuck Chambers, Huntington, Chambers, Patrick Morrisey Organizations: —, Circuit, Virginia Medicaid, U.S, Supreme, Lambda, Constitution, World Professional Association for Transgender Health, West, U.S . Centers, Medicare, Services, District, Affordable, West Virginians, West Virginia Inc, Public Employees Insurance Agency, West Virginia Republican, “ Locations: CHARLESTON, W.Va, North Carolina, West Virginia, Richmond, North Carolina’s, Virginia, U.S, “ West Virginia

(New money means any funds that aren't currently in a BMO bank account or were in a BMO account in the last 14 days.) More BMO checking account bonusesIf you don't qualify for the BMO Relationship Check Account bonus, the bank has more personal checking account bonuses available until December 8, 2023. BMO Smart Money Checking and the BMO Smart Advantage Checking Account both offer a $400 checking account bonus, and the requirements for earning the bonus are the same. High bank account bonuses at other banksIf you'd like to consider more options, the following national banks also have high bank account bonuses. Products in this post: BMO Relationship Checking, BMO Relationship Plus Money Market Account, BMO Smart Money Checking, BMO Smart Advantage Checking Account, Chase Secure Banking℠, Chase Private Client Checking℠, Citigold® Checking Account, Citi Priority, Huntington Bank Platinum Perks Checking, U.S. Bank Smartly® Checking, U.S. Bank Standard Savings Account

Persons: hasn't, you've, aren't, Chase, You'll Organizations: BMO, FDIC, Chase Secure Banking, Chase, Citibank, Citi, Huntington Bank, New Huntington Bank, U.S . Bank, Residents, U.S, Bank, Bank Standard Savings, Products, Secure Banking, Savings

At a rally in downtown Detroit on Friday, just a couple of hundred yards from the headquarters of General Motors, Senator Bernie Sanders of Vermont addressed a cheering crowd of United Auto Workers members, capping a day of walkouts by the union with an effort to rally support for the strike. “The fight you are waging here is not just about decent wages and working conditions and pensions in the auto industry,” Mr. Sanders said. “It’s a fight to take on corporate greed and tell the people on top the country belongs to all of us, not just the few.”The rally took place along Detroit’s riverfront, near the city’s iconic Renaissance Center towers, home to G.M. headquarters. Also nearby is the Huntington Place convention center, where auto executives were gathering for a black-tie charity ball to kick off the 2023 Detroit auto show.

Persons: Bernie Sanders, Sanders, —, ” Mr, “ Organizations: General Motors, United Auto Workers, Big Three, Ford Locations: Detroit, Vermont, walkouts, United States, G.M

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. The merchandise mix Walmart (WMT.N) will carry rests not purely on retail executives' judgment but rather on software it developed around 2019. Its machine-learning algorithm relies on weather patterns and each store's past sales data to predict inventory needs of its more than 4,700 U.S. locations, a Walmart tech executive told Reuters. Walmart executives say it is aided by its large tech team in India, spanning three cities and employing 11,500. Software directs Walmart workers to use the quickest route while assembling online orders for pickup and delivery, Vasudev said.

Persons: Kamil Krzaczynski, D.A, Davidson, Michael Baker, Doug McMillon, Thomas Hayes, Hari Vasudev, Vasudev, David Klink, Huntington, Nandan Mandayam, Siddharth Cavale, Mark Porter Organizations: REUTERS, Walmart, Reuters, Target, Shoppers, Amazon, New, Great, U.S, Walmart's India, Software, Workers, Hunting Private Bank, Thomson Locations: Chicago , Illinois, U.S, United States, Bentonville , Arkansas, New York, India, Bengaluru, Target's, Walmart's

☆ CNBC Pro at Future Proof: Finding quality stocks in an uncertain market
▼ + stars: | 2023-09-11 | 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 EmailCNBC Pro at Future Proof: Finding quality stocks in an uncertain marketCNBC Senior Markets Correspondent Bob Pisani sits down for an interview with John Hancock Investment Management Co-Chief Investment Strategist Emily Roland from the Future Proof conference in Huntington Beach, California to discuss finding quality American stocks in an uncertain market and why bond yields could be headed for a decline

Persons: Bob Pisani, Emily Roland Organizations: CNBC, John Hancock Investment Management Locations: Huntington Beach , California

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