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☆ Canadian miner Teck Resources pushes for restructuring, says Glencore bid 'flawed'
  + stars: | 2023-04-10 | by ( ) www.reuters.com   time to read: +1 min
April 10 (Reuters) - Canada's Teck Resources (TECKb.TO) on Monday doubled down on its push to reject an unsolicited $22.5 billion bid from Glencore Plc (GLEN.L) citing "fundamental flaws" in the offer and urged shareholders to instead vote for a restructuring. The Swiss miner's buyout bid, which was made public last week, includes a plan to simultaneously spin off the thermal and steelmaking coal businesses and rebrand the remaining company as GlenTeck. read moreTeck said its board has rejected the offer as Glencore did not present a coherent plan for its proposed coal company, adding that the deal would expose its shareholders to thermal coal, oil, LNG and related sectors. The company once again said more value could be unlocked through a proposed restructuring in which the Vancouver-based miner would spin off its steelmaking coal unit to focus on copper and other industrial metals. Reporting by Mrinalika Roy in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
☆ Quality over quantity: As population shrinks, these companies will benefit from a 'trade-up' effect
  + stars: | 2023-04-08 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
A big shift in consumer demand is coming as global population growth slows, and that means companies need to respond with more active approaches to generate outperformance, according to Evercore ISI. Historically, booming population growth, globalization and industrialization have supported economic growth, Julian Emanuel, the firm's senior managing director, wrote in an April 5 note. "Companies with higher value-added services and better quality will likely better capture market share than those relying solely on volume growth." "Consumer companies that focus on 'trade-up' categories and premiumization could benefit as middle-income discretionary spend continues to rise," Emanuel said. Meanwhile, McDonald's top six markets — including the U.S., U.K. and France — are all experiencing slowing population growth.
☆ The Best Credit Cards for Excellent Credit of April 2023
  + stars: | 2023-04-05 | by ( Peter Rothbart | Angela Fung | Jasmin Baron | ) www.businessinsider.com   time to read: +48 min
Your credit score is only one of several factors that determine whether your credit card application will be approved. Note that credit card lenders may use many different variations of credit score models when considering your application. Credit Cards for Excellent Credit Frequently Asked QuestionsWhat is the best credit card for excellent credit? Can I qualify for a credit card without excellent credit? Compare the Best Credit Cards for Excellent Credit Capital One Venture X Rewards Credit CardChase Sapphire Preferred® CardBank of America® Premium Rewards® credit cardDiscover it® Miles Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
☆ Meta is a favorite tech trade because it's extremely cheap, says Evercore's Mark Mahaney
  + stars: | 2023-04-03 | 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 EmailMeta is a favorite tech trade because it's extremely cheap, says Evercore's Mark MahaneyMark Mahaney, head of Internet Research at Evercore ISI, joins 'The Exchange' to discuss the tech trade winners, the strength of companies with regular product offerings, and cloud computing brands undergoing an optimization period.
☆ Canada's Teck Resources rejects $22.5 bln buyout offer from Glencore
  + stars: | 2023-04-03 | by ( ) www.reuters.com   time to read: +1 min
April 3 (Reuters) - Teck Resources Ltd (TECKb.TO) on Monday rejected an unsolicited $22.5 billion bid from Swiss commodity firm Glencore Plc (GLEN.L), sending the U.S.-listed shares of the Canadian copper miner up about 10% in premarket trading. Teck said more value can be achieved with the proposed restructuring announced earlier this year than the sale of the company. "The board is not contemplating a sale of the company at this time," Teck Chair Sheila Murray said. The company had in February said it would spin off its steelmaking coal unit to focus on industrial metals such as copper. After the separation, Teck will re-brand itself as Teck Metals Corp, while the new divested unit will be listed in Toronto as Elk Valley Resources Ltd.
☆ Q2 PLAYBOOK: EVERCORE'S JULIAN EMANUEL WARNS A REALITY CHECK IS AHEAD FOR INVESTORS
  + stars: | 2023-04-03 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQ2 PLAYBOOK: EVERCORE'S JULIAN EMANUEL WARNS A REALITY CHECK IS AHEAD FOR INVESTORSJulian Emanuel, Evercore ISI Sr. Managing Director, on making sense of today's market action with CNBC's Melissa Lee and the Fast Money traders.
☆ Watch CNBC's full interview with Ariel's Charlie Bobrinskoy and Evercore's Julian Emanuel
  + stars: | 2023-03-30 | 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 Ariel's Charlie Bobrinskoy and Evercore's Julian EmanuelCharlie Bobrinskoy from Ariel investments and Julian Emanuel from Evercore ISI join 'Closing Bell Overtime' to discuss investment in high quality bank stocks, further concerns about the banking system, and the recession debate.
☆ Walmart store locations appear positioned well for consumer environment, says Evercore's Greg Melich
  + stars: | 2023-03-30 | 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 EmailWalmart store locations appear positioned well for consumer environment, says Evercore's Greg MelichEvercore's Greg Melich joins 'Closing Bell' to discuss slowing U.S. consumption levels, Walmart's strength against competitors, and the rationale behind Evercore's Walmart upgrade.
☆ SVB's collapse signals that rollbacks on Dodd-Frank Act were a mistake: Evercore's Roger Altman
  + stars: | 2023-03-28 | 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 EmailSVB's collapse signals that rollbacks on Dodd-Frank Act were a mistake: Evercore's Roger AltmanRoger Altman, Evercore founder and senior chairman, joins 'Closing Bell' to discuss the mounting concerns that led to the Silicon Valley Bank's collapse, the responsibility of the Fed to act on warnings about SVB's mismanagement, and more.
☆ The banking system is under tremendous stress, says Evercore's Roger Altman
  + stars: | 2023-03-27 | 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 banking system is under tremendous stress, says Evercore's Roger AltmanRoger Altman, Evercore founder and senior chairman, joins 'Squawk Box' to discuss how banking stability has changed, what Altman is watching to monitor contagion risk, and more.
☆ TikTok's right at the center of the U.S.-China political turmoil, says Evercore's Mahaney
  + stars: | 2023-03-23 | 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 EmailTikTok's right at the center of the U.S.-China political turmoil, says Evercore's MahaneyMark Mahaney, Evercore ISI internet research head, joins 'Closing Bell: Overtime' to discuss today's TikTok hearing and why it was so important.
☆ Watch CNBC's full interview with Evercore's Roger Altman
  + stars: | 2023-03-22 | 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 EmailWatch CNBC's full interview with Evercore's Roger AltmanRoger Altman, Evercore founder and senior chairman, joins 'Closing Bell: Overtime' to discuss today's Fed hike and Treasury Sec. Yellen's comments that they're not considering a broad increase in deposit insurance.
☆ What's happening in the markets has the effect of cooling growth and inflation, says Evercore's Altman
  + stars: | 2023-03-22 | 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 EmailWhat's happening in the markets has the effect of cooling growth and inflation, says Evercore's AltmanRoger Altman, Evercore founder and senior chairman, joins 'Closing Bell: Overtime' to discuss today's Fed hike and Treasury Sec. Yellen's comments that they're not considering a broad increase in deposit insurance.
☆ YouTube and Instagram would benefit most from a ban on TikTok: Evercore's Mark Mahaney
  + stars: | 2023-03-16 | 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 EmailYouTube and Instagram would benefit most from a ban on TikTok: Evercore's Mark MahaneyMark Mahaney, Evercore ISIS head of internet research, joins 'Squawk Box' to discuss the Biden administration's threats to ban TikTok if it doesn't divest, if more social media companies could come under pressure, and more.
☆ Evercore's Stephen Kim's bullish case for the homebuilders
  + stars: | 2023-03-14 | 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 EmailEvercore's Stephen Kim's bullish case for the homebuildersStephen Kim, Evercore ISI homebuilder analyst, joins 'The Exchange' to discuss the housing market and why he says buy these homebuilder names.
☆ Mark Zuckerberg's metaverse ambitions are shrinking
  + stars: | 2023-03-14 | by ( Kali Hays | ) www.businessinsider.com   time to read: +4 min
In a year, the metaverse went from Meta CEO Mark Zuckerberg's obsession to rarely being mentioned. He mentioned AI four times, positioning the development of that technology as now being Meta's "single largest investment." Executives mentioned it half a dozen times during a call with Wall Street analysts, while the metaverse was not mentioned at all. It's a relief to investors and Wall Street analysts, who last year grew increasingly frustrated with Zuckerberg's once defiant tone on the massive cost of metaverse work. It's set to lose $15 billion this year and is on track to cost the company $20 billion a year going forward.
☆ Stress like it's 1987: Evercore's Julian Emanuel questions why rate hikes are still on the table
  + stars: | 2023-03-13 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStress like it's 1987: Evercore's Julian Emanuel questions why rate hikes are still on the tableJulian Emanuel of Evercore ISI on whether the banking crisis can rescue the bulls. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Karen Finerman and Steve Grasso.
☆ 'Stress like 1987': Evercore's Julian Emanuel warns Silicon Valley Bank fallout could force new market low
  + stars: | 2023-03-13 | by ( Stephanie Landsman | ) www.cnbc.com   time to read: +1 min
In a note out Monday, Emanuel highlighted a striking comparison to the 2-year Treasury Note yield plunge in the aftermath of Friday's Silicon Valley Bank collapse and 1987. Evercore ISI is comparing the bank stress to another critical time on Wall Street: The year of the savings and loan crisis and epic crash. He noted the three-day rate of change in the 2-year yield fell from the 5.08% peak to a recent "trough" of 3.99%. "Part of the end game is we do want to see enough of a downturn to make stocks attractive," said Emanuel. "The next thing that we really need to be cognizant of is how credit, in general, trades," Emanuel said.
☆ Salesforce is having its best day since 2020 after blowout earnings report
  + stars: | 2023-03-02 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Salesforce shares surged 12% on Thursday and headed for their biggest single-day rally since August 2020, after the cloud software vendor issued earnings and guidance that trounced analysts' estimates. After the close of regular trading on Wednesday, Salesforce reported fiscal fourth-quarter adjusted earnings of $1.68 per share, 23% higher than the consensus among analysts polled by Refinitiv. Alongside the earnings report, Salesforce said it's working with Bain on a business review, and the company announced the elimination of the board's committee on mergers and acquisitions. Rangan, who recommends buying the stock, raised his 12-month price target for the second time in a week after the report. WATCH: Salesforce earnings highlight how expectation beats can move markets, says Kari Firestone
☆ Glencore sentenced to pay $700 million in US after bribery guilty plea
  + stars: | 2023-02-28 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com   time to read: +1 min
Companies Glencore PLC FollowNEW YORK, Feb 28 (Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. Prosecutors have said Glencore paid more than $100 million in bribes to officials in countries including Nigeria, Brazil, Venezuela and the Democratic Republic of the Congo to win business or avoid audits. Overall, the Swiss-based multinational has said it expects to pay more than $1.5 billion to settle bribery and market manipulation accusations, including more than $1 billion in the United States. Last year, Glencore was ordered to pay $341 million in fines and $144 million in forfeiture after pleading guilty to a market manipulation charge in Connecticut federal court. Reporting by Luc Cohen in New York Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
☆ The stock market could retest October lows by midyear as a looming recession hits the US economy, Evercore's Julian Emanuel says
  + stars: | 2023-02-28 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
Stocks could slide 10% back to October lows over the next three to six months, according to Evercore's Julian Emanuel. The Fed will keep raising interest rates, Emanuel warned, lowering the odds of a soft landing. But that's unlikely as central bankers will keep on tightening interest rates, Emanuel said, which could mean more downside for stocks. Fed officials raised interest rates 425 basis-points last year to tackle rising inflation, a move that caused the S&P 500 to lose 20%. "The Fed's going to just keep going until something either softens, or invariably, as it has through most of history, breaks," Emanuel warned.
☆ Recession Watch: Evercore's Julian Emanuel warns stocks are getting close to testing the October low
  + stars: | 2023-02-27 | 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 EmailRecession Watch: Evercore's Julian Emanuel warns stocks are getting close to testing the October lowEvercore ISI's Julian Emanuel on what to make of today's market action. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Guy Adami and Mike Khouw.
☆ How Evercore is wooing its junior bankers to stay ‘long-term’ with early promotions and $70,000 in bonuses just for sticking around
  + stars: | 2023-02-24 | by ( Emmalyse Brownstein | ) www.businessinsider.com   time to read: +6 min
Evercore — a small but powerful Wall Street investment bank— has rolled out a new promotion program for its junior staffers, Insider has learned. Evercore's analyst program previously required two years as an analyst and one year as a senior analyst. It's unclear how long junior bankers are expected to stay with the firm after being promoted to associate. If accepted, the participants would spend July through December as senior analysts, then become associates as of January 1, 2024. "We will continue to assess current Senior Analysts eligibility for promotion to Associate 1 this July."
☆ Scientists unlock secrets of Earth's wickedly hot innermost realm
  + stars: | 2023-02-21 | by ( Will Dunham | ) www.reuters.com   time to read: +4 min
The planet's internal structure comprises four layers: a rocky crust on the outside, then a rocky mantle, an outer core made of magma and a solid inner core. This metallic inner core, about 1,500 miles (2,440) wide, was discovered in the 1930s, also based on seismic waves traveling through Earth. Scientists in 2002 proposed that lurking within this inner core was an innermost section separate from the rest, akin to a Russian Matryoshka nesting doll. The researchers were able to differentiate the two regions because the seismic waves acted differently between them. "The latent heat released from solidifying the Earth's inner core drives the convection in the liquid outer core, generating Earth's geomagnetic field," Pham said.
☆ Marvel's 'Ant-Man and the Wasp: Quantumania' scores $104 million during domestic debut
  + stars: | 2023-02-19 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +3 min
Paul Rudd is Scott Lang, aka Ant-Man, alongside Johnathan Majors as Kang the Conqueror in "Ant-Man and the Wasp in Quantumania." Disney and Marvel Studios' "Ant-Man and the Wasp: Quantumania" scored an estimated $104 million at the domestic box office during its opening weekend. "Quantumania's" domestic haul is nearly double what the first standalone Ant-Man film opened to in 2015 and marks the 31st consecutive MCU release to debut at number one at the domestic box office. Internationally, "Quantumania" took in $121 million, bringing its estimated global haul for the three-day spread to $225 million. "'Ant-Man and the Wasp: Quantumania' sets into motion what looks to be week after week of solid moviegoing and creates momentum for a solid summer movie season."
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