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☆ Disney CEO Bob Iger has 'very little room for maneuver' as he tackles layoffs, budget cuts, a company reorg, and questions over the future of Hulu and ESPN
  + stars: | 2023-02-07 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +11 min
Disney chief Bob Iger will speak Wednesday on his first quarterly earnings call since returning as CEO. Wall Street wants to see how Disney plans to boost profitability this year and whether it will trade ESPN or Hulu. Aside from a quick visit to Disney World in January, Bob Iger has been lying very low. Media investor Ross Gerber told Insider that Iger would get back to focusing on content rather than on the distribution mechanism. Iger tweeted a photo of himself at Disney World, dressed in a relaxed green cardigan and gray slacks as he posed with cast members on January 19.
☆ Bond investors brace for recession as Fed expected to slow pace of tightening
  + stars: | 2023-01-31 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com   time to read: +5 min
The rally comes after Treasuries notched the worst year in their history following the Fed's most aggressive monetary policy tightening since the 1980s. Some equity investors are nevertheless playing it safe, expecting the current rally in stocks to wilt if a recession hits. For now, many investors are wedded to a more dovish view, betting that policymakers will blink if growth starts to slow. "The Fed is closer to the end than the beginning, and rates usually fall across the curve when the Fed is finished raising rates." Of course, some investors are happy to take the central bank at its word and are betting rates stay higher for longer.
☆ The Fed needs to keep tapping the brake, says BofA's Ethan Harris
  + stars: | 2023-01-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs to keep tapping the brake, says BofA's Ethan HarrisEthan Harris, BofA Securities global head of economic research, joins 'The Exchange' to discuss the state of the economy and the Fed.
☆ Netflix password crackdown will create churn in early 2023, says BofA Securities' Jessica Reif Ehrlich
  + stars: | 2023-01-20 | 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 EmailNetflix password crackdown will create churn in early 2023, says BofA Securities' Jessica Reif EhrlichJessica Reif Ehrlich of BofA Securities, joins 'TechCheck' to discuss the future of Netflix.
☆ Japanese yen tumbles, bonds rally after BOJ keeps policy ultra easy
  + stars: | 2023-01-18 | by ( Stella Qiu | ) www.reuters.com   time to read: +5 min
The bank, however, maintained ultra-low interest rates, including its 0.5% cap for the 10-year bond yield. The dollar also gained 2.5% against the Japanese yen to 131.4 yen, in its biggest percentage daily rise since March 2020. In a Reuters poll, 97% of economists expected the BOJ to maintain its ultra-easy policy at the meeting. A survey of global fund managers by BofA Securities out on Tuesday showed that expectations of further appreciation in the Japanese yen in January were the highest in 16 years. The dollar index , which measures the safe-haven dollar against six peers, rose 0.4% at 102.84.
☆ Asian shares tentative, Japan yields close to policy cap ahead of BOJ meeting
  + stars: | 2023-01-18 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
SummarySummary Companies Asian shares mixed; Nikkei up 0.6%Markets eye change to yield policy from BOJ meeting on WedJapan yields retreat from policy cap; Yen eases from 7-mth highOil extend gains on China optimismSYDNEY, Jan 18 (Reuters) - Asian shares were mixed on Wednesday while Japanese yields hugged a policy cap, with markets anxiously awaiting a pivotal Bank of Japan (BOJ) meeting that could see the world's third largest economy shift away from decades of ultra-low interest rates. In early Wednesday trade, however, the 10-year yield fell to 0.485% before returning to 0.5%. China's blue chips (.CSI300) rose 0.2%, while Hong Kong's Hang Seng Index (.HSI) was 0.2% lower. It has been undermined by falling U.S. bond yields as markets wager the Federal Reserve can be less aggressive in hiking rates. The yield on benchmark 10-year Treasury notes rose slightly to 3.5402% from its U.S. close of 3.535%, partly in anticipation of the BOJ tweaking its policy.
☆ Asian shares mixed, yen tumbles after BOJ keeps yield policy unchanged
  + stars: | 2023-01-18 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
read moreThe 10-year yield stayed at 0.5100% on Wednesday. In a Reuters poll, 97% of economists expected the BOJ to maintain its ultra-easy policy at the meeting. Mahjabeen Zaman, head of FX Research at ANZ, now expects any further rises in the Japanese yen might have to be delayed until April when the new BOJ governor assumes position. A survey of global fund managers by BofA Securities out on Tuesday showed that expectations of further appreciation in the Japanese yen in January were the highest in 16 years. After Bank of Japan decision, the dollar strengthened 2.4% to 131.18 yen , pulling away from Monday's seven-month low of 127.21 yen.
☆ Chinese consumption-related stocks could do 'better than expected' from reopening, strategist says
  + stars: | 2023-01-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese consumption-related stocks could do 'better than expected' from reopening, strategist saysWinnie Wu of BofA Securities says given the rapid pace of Covid infections and a potential peak following China's reopening, many consumption-related themes may do better than expected when it comes to earnings.
☆ NI to explore options including sale, amid interest from Emerson Electric - sources
  + stars: | 2023-01-13 | by ( Anirban Sen Priyamvada C | Anirban Sen | Priyamvada C | ) www.reuters.com   time to read: +2 min
Jan 13 (Reuters) - NI Corp (NATI.O), a provider of testing and measuring equipment, said on Friday it was exploring strategic options after acquisition interest from companies that people familiar with the matter said include Emerson Electric Co (EMR.N). The acquisition interest from potential suitors, according to the sources, forced NI to adopt a so-called poison pill, which would be triggered if a person or a group's ownership of the firm reaches 10%. The sources, who requested anonymity as the discussions are confidential, cautioned that the talks with suitors including Emerson are subject to market conditions, and a deal is not guaranteed. Texas-based NI, formerly known as National Instruments, specializes in making automated testing and measurement tools to aid in research and validation of new technologies. In October, Emerson sold a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that valued the business at $14 billion.
☆ Tough road ahead for U.S. fintech lenders as default risk rises
  + stars: | 2023-01-13 | by ( Matt Tracy | ) www.reuters.com   time to read: +2 min
During the pandemic, many fintech startups emerged as lenders to borrowers with imperfect credit. Using artificial intelligence, their screening tools were more likely to recommend these loan requests than traditional lenders'. The lenders' ABS were among bonds that raised $36 billion in 2021 and 2022 by pooling consumer and marketplace loans, according to FinSight data. The losses on subprime loans that are assumed to be uncollectible debt or charge-offs rose on average by some 20% by the third quarter of 2022 from 2019 levels, said Moody's. But the lenders' securities have not lost investor appeal as yet, said Theresa O’Neill, ABS strategist at BofA Securities.
☆ Investors need to be constructive on North Asian stocks, says BofA Securities
  + stars: | 2023-01-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors need to be constructive on North Asian stocks, says BofA SecuritiesAjay Kapur of BofA Securities says investors should buy sectors in North Asia that are "highly correlated to the Chinse credit cycle."
☆ Fed will deliver more than the market's expecting, says BofA's Ethan Harris
  + stars: | 2023-01-04 | 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 will deliver more than the market's expecting, says BofA's Ethan HarrisEthan Harris, BofA Securities global head of economic research, joins CNBC's 'Power Lunch' to discuss the Fed's minutes from its December FOMC meeting.
☆ Indian markets may see FPI revival after worst-ever selloff in 2022- analysts
  + stars: | 2022-12-30 | by ( Bharath Rajeswaran | ) www.reuters.com   time to read: +2 min
BENGALURU, Dec 29 (Reuters) - Foreign investors' selloff in Indian equities was the biggest on record in 2022, dragging the benchmark indexes to their smallest annual gain in four years, but analysts expect purchases by cross-border investors to rebound next year. Foreign portfolio investors (FPIs) sold 1,219.08 billion rupees ($14.73 billion) worth of Indian equities in 2022, till Dec. 29, the biggest selloff in Indian shares in a year since 1993, when data became available. Reuters Graphics Reuters GraphicsThe second-worst FPI selloff was in 2008 at 529.87 billion rupees ($6.40 billion), which triggered a 51.79% fall on the Nifty 50 (.NSEI). Foreign funds purchased around 958.78 billion rupees worth of stocks in the second half of 2022, after being net sellers of shares worth 2,173.58 billion rupees in the first half. Reuters GraphicsDOMESTIC INVESTORS WEIGH INMeanwhile, domestic institutional investors net bought equities worth 2,734.60 billion rupees in 2022, their best year since data became available in 2008, according to National Stock Exchange.
☆ Brent crude prices will be higher in Q3 next year, targeting $110 per barrel, says BofA's Blanch
  + stars: | 2022-12-22 | 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 EmailBrent crude prices will be higher in Q3 next year, targeting $110 per barrel, says BofA's BlanchFrancisco Blanch, BofA Securities head of global commodities research, joins 'Power Lunch' to discuss what he sees ahead for the oil market, why he doesn't believe oil prices will stay at current levels and more.
☆ Forget next year. The tech downtrend may be in danger of leaking into 2024
  + stars: | 2022-12-22 | by ( Bob Pisani | ) www.cnbc.com   time to read: +2 min
Weak outlook, reduced estimates, significant oversupply. Looking for an imminent bottom in global tech demand is proving very elusive, at least if you look at Micron's earnings report. "These are the most challenging conditions for the memory market since the financial crisis," Chris Caso at Credit Suisse said, after he looked over Micron's numbers. "Losses mount over significant oversupply," Joseph Moore at Morgan Stanley said. "In a rapidly deteriorating memory environment driven by inventory corrections/demand weakness across nearly every end market, pricing continues to be the biggest headwind to memory profitability/earnings," Harlan Sur at JPMorgan warned.
☆ What peak inflation really means for the market
  + stars: | 2022-12-14 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat peak inflation really means for the marketBofA Securities' Savita Subramanian on the Fed and the markets. With CNBC's Melissa Lee and the Fast Money traders, Steve Grasso, Dan Nathan, Guy Adami and Bonawyn Eison.
☆ Stocks making the biggest moves premarket: Delta, Tesla, Moderna and others
  + stars: | 2022-12-14 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
Tesla (TSLA) – Goldman Sachs cut its price target for Tesla to $235 per share from $305, citing softer demand. Tesla shares are down about 40% since the end of September, and briefly dipped below $500 billion in market value Tuesday. Moderna (MRNA) – Moderna rose another 1.6% in premarket trading on top of yesterday's 19.6% gain. Aspen Group (ASPU) – Aspen Group rallied 14.8% in premarket action after the online education company reported better-than-expected quarterly revenue and improved profit margins. The firm said Paccar is among the industrial stocks poised to benefit from a sector recovery.
☆ Inflation will remain higher and stickier than the market's pricing in, says BofA's Savita Subramanian
  + stars: | 2022-12-14 | 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 EmailInflation will remain higher and stickier than the market's pricing in, says BofA's Savita SubramanianSavita Subramanian, BofA Securities, joins CNBC's "Fast Money" to discuss the Fed's upcoming rate hike decision and her market and economic outlook going into 2023.
☆ Investor confidence in China should improve in the next 12-18 months, strategist says
  + stars: | 2022-12-12 | 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 EmailInvestor confidence in China should improve in the next 12-18 months, strategist saysWinnie Wu of BofA Securities discusses the prospect of China's full reopening and a "cyclical upturn" that is likely to follow.
☆ Relaxation of China's Covid measures is 'the key' to its growth rebound in 2023, economist says
  + stars: | 2022-11-28 | 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 EmailRelaxation of China's Covid measures is 'the key' to its growth rebound in 2023, economist saysHelen Qiao of BofA Securities says turmoil is still "very likely" in the near term, and it expects that the situation will get better only in the second half of 2023.
☆ Natural gas producer BKV Corp files for U.S. IPO
  + stars: | 2022-11-18 | by ( ) www.reuters.com   time to read: +1 min
Companies Bkv Corporation FollowNov 18 (Reuters) - U.S. natural gas producer BKV Corporation filed for an initial public offering in the United States on Friday, amid a backdrop of soaring demand in the energy sector and volatile commodity prices. Energy companies have been among the big winners this year as the war in Ukraine piles pressure on the commodities supply chain. Reuters reported earlier this year that a listing may value BKV at up to $2 billion, including debt. BKV did not reveal the number of shares or the price range for its proposed offering. The gas producer plans to float its shares on the New York Stock Exchange and expects to trade under the ticker symbol 'BKV.'
☆ Wall Street is skeptical of GM's ambitious EV plans
  + stars: | 2022-11-18 | by ( Michael Wayland | ) www.cnbc.com   time to read: +6 min
DETROIT – Wall Street is skeptical of General Motors' plans to produce profitable electric vehicles years ahead of schedule and substantially bring down battery costs amid supply chain problems and broader economic concerns. GM's average rating is overweight with a 12-month target price of $47.77 per share, according to analysts compiled by FactSet. That would be years ahead of schedule and mean a dramatic decline in the automaker's battery costs amid supply chain problems, cyclical demand concerns and potential shortages in raw materials. It boosted its cash flow guidance to between $10 billion and $11 billion, up from $7 billion and $9 billion. Here are comments from other analysts as well as their ratings and price targets for GM following the investor event.
☆ Watch CNBC's full interview with Bank of America's Jessica Ehrlich
  + stars: | 2022-11-15 | 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 Bank of America's Jessica EhrlichJessica Reif Ehrlich, senior U.S. media and entertainment analyst at BofA Securities, joins 'The Exchange' to discuss her bullish case for Netflix and explore if the worst is over for Netflix in the short term.
☆ Investors should avoid 'crowded' Chinese stocks, says strategist
  + stars: | 2022-11-10 | 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 EmailInvestors should avoid 'crowded' Chinese stocks, says strategistWinnie Wu of BofA Securities says investors should avoid buying Chinese stocks that are "well owned" by foreigners.
☆ Lidar firms Ouster, Velodyne to merge in all-stock deal
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +1 min
Nov 7 (Reuters) - Lidar makers Ouster Inc (OUST.N) and Velodyne Lidar Inc (VLDR.O) said on Monday they would merge in an all-stock deal, forming a company with a combined market capitalization of about $400 million. Velodyne stockholders will receive 0.8204 shares of Ouster for each share held, representing a 7.8% premium to Velodyne's closing price on Friday. The combination will allow Ouster and Velodyne to consolidate their market position and product portfolios through cost-savings in engineering, manufacturing and administration. Velodyne shares were up 5.6% while Ouster rose about 1% in premarket trading. Existing Velodyne and Ouster shareholders will own about 50% each of the combined company.
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