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☆ Value investors make a big comeback with one of their best months since 1978
▼ + stars: | 2022-11-03 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange during morning trading on November 02, 2022 in New York City. Value investors have come back with a vengeance as inexpensive stocks pulled off a historic month of outperformance against growth names. The Russell 1000 Value index jumped 10.1% in October, beating its growth counterparts by 4.3 percentage points. The value outperformance spread is in the 96th percentile of outcomes since 1978, according to Bank of America. The iShares Russell 1000 Value ETF (IWD ) raked in $444 million inflows last month during the rally.

Washington Commanders owners announced Wednesday that they had hired Bank of America, in a major step toward a potential sale of the troubled NFL franchise. "Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions," according to a team statement. Snyder purchased the once-proud franchise ahead of the 1999 season, taking over a club that has won three Super Bowl titles. The team finally bowed to public pressure in 2020 and rebranded itself the Commanders last year. Off the field, the team has been accused by multiple former employees of fostering a toxic, misogynistic workplace.

☆ Washington Commanders owner Dan Snyder exploring possible sale of team
▼ + stars: | 2022-11-02 | by ( David Close | ) edition.cnn.com time to read: +1 min

CNN —Washington Commanders owner Dan Snyder is considering a sale of the team. Through a team statement on Wednesday, Dan and his wife, Tanya, announced that they hired Bank of America Securities “to consider potential transactions.”Snyder has been accused of fostering a “toxic workplace” by a House Oversight Committee investigating the Commanders owner. Last year, after an internal investigation by attorney Beth Wilkinson, the NFL fined the Commanders $10 million and Snyder handed control of the franchise’s daily operations to Tanya. Snyder has denied the accusations. The Commanders statement in full reads: “Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BofA Securities to consider potential transactions.

MUMBAI, Nov 2 (Reuters) - The Indian rupee is expected to open little changed to the dollar on Wednesday as traders look for the U.S. Federal Reserve's views on the path forward for rates. The rupee is tipped at around almost the same levels in early trading as the previous session's close of 82.6950. "If the Fed's thinking is it may be early to give that signal, expect a gap down on rupee tomorrow." Fed futures now point to an almost even chance of whether the U.S. central bank's next move will be a 50 bps or 75 bps hike. "Yet we expect the Fed to remain data dependent and emphasize cumulative policy rate tightening over any step down in pace."

☆ We're a lot more bearish on South Korea's 2023 economic outlook, says economist
▼ + stars: | 2022-10-27 | 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 EmailWe're a lot more bearish on South Korea's 2023 economic outlook, says economistKathleen Oh of BofA Securities says external demand has been under pressure, but domestic consumption has been "holding up."

☆ Raytheon Technologies a safer aerospace bet than choppy Boeing, says BofA's Ron Epstein
▼ + stars: | 2022-10-26 | 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 EmailRaytheon Technologies a safer aerospace bet than choppy Boeing, says BofA's Ron EpsteinRon Epstein, BofA Securities, joins 'Closing Bell' to discuss Boeing's stock slump following quarterly losses.

☆ Stock pickers are still positioned for a Fed 'soft landing,' mutual fund holdings show
▼ + stars: | 2022-10-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Professional stock pickers are still betting that the U.S. economy could skirt a recession, according to Bank of America analysis. Actively managed mutual funds have maintained their pro-cyclical stance with overweights in consumer discretionary and industrials, while having a sizeable underweight in consumer staples, Bank of America's monthly analysis of fund holdings showed. "Long-only mutual funds appear to be expecting a soft landing," Savita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, said in a note. Still, mutual funds are not well positioned to hedge against stubborn inflation or a strong dollar. So far this year, 39% of large cap active funds are outperforming their benchmarks, higher than the 35% average over the past decade, Bank of America said.

☆ Hoexter: Shippers' outlook continues to deteriorate, they're very worried about future demand
▼ + stars: | 2022-10-21 | 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 EmailHoexter: Shippers' outlook continues to deteriorate, they're very worried about future demandKen Hoexter of BofA Securities discusses the challenges facing the transports sector heading into the end of this year and 2023.

☆ China's GDP growth should turn around by the second quarter of 2023, says strategist
▼ + stars: | 2022-10-20 | 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 EmailChina's GDP growth should turn around by the second quarter of 2023, says strategistWinnie Wu of BofA Securities discusses investors' concerns about the Chinese market.

☆ Visa, Mastercard profits expected to jump as travel rebounds
▼ + stars: | 2022-10-20 | by ( Niket Nishant | ) www.reuters.com time to read: +3 min

With more companies resuming business travel and people planning vacations, Visa Inc (<V.N>), Mastercard (<MA.N>) and American Express (<AXP.N>) are likely to see a jump in cross border volume, according to analysts. Cross border volumes are a measure of travel demand reflecting spending on cards outside the country they were issued. American Airlines (<AAL.O>), United Airlines Holdings (<UAL.O>) and Delta Air Lines (<DAL.N>) have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. American Express will report its quarterly earnings on Friday, followed by Visa and Mastercard next week. AmEx shares have dropped 12%, while Mastercard and Visa are down 17% and 14% this year, respectively.

☆ The CEO of Barry Diller's IAC says Netflix with ads will be a double blow to network TV revenue: 'Now they're losing audience and losing scarcity.'
▼ + stars: | 2022-10-20 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

The growth of ad-supported streaming at scale is set to challenge the $60 billion TV ad business. One top internet executive, IAC CEO Joey Levin, says Netflix will destroy networks' scarcity argument. Wall Street also is waiting to see if Netflix draws ad dollars from social media or TV. Traditional TV networks are about to lose one of their main arguments for charging big rates for ads. Netflix's arrival on Madison Avenue next year is going to erode the hugely lucrative TV ad business, said Levin, who spoke with Insider in September.

☆ Asia hedge fund losses grow in Q3, poised for worst year since 2008
▼ + stars: | 2022-10-19 | by ( Summer Zhen | ) www.reuters.com time to read: +3 min

“It’s a very painful third quarter for (Asia) hedge fund managers’ performance. Repeated lockdowns in many Chinese cities, a risk-off mode ahead of the party congress and geopolitical risks affected market sentiment. The magnitude of central bank policy moves and frequent macro headlines created profitable trading opportunities for macro hedge funds globally, analysts said. The HFRI Asia ex-Japan Index tracks funds that target more than 50% of their investments in the Asia ex-Japan region. Japan-focused hedge funds fared relatively well, with the HFRI Asia index that includes Japan, down just 3.3% in September and 3.9% this year.

Reuters, citing sources, had reported in April that the stock market flotation could value Mobileye at as much as $50 billion. "Most companies don't have the grit needed to blaze a trail with all this public market volatility." IPOs by U.S. technology companies have sunk to their lowest levels since the global financial crisis of 2008, as several companies have shelved plans for their listings in the country. read moreTech IPOs this year have raised $507 million, according to Refinitiv data, the lowest amount that has been raised through flotation since 2000. Goldman Sachs, Morgan Stanley, Citigroup and BofA Securities are among underwriters of Mobileye's offering.

☆ Mobileye targets up to $16 bln valuation in U.S. IPO
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 18 (Reuters) - Mobileye, Intel's (INTC.O) self-driving car unit, targets a valuation of nearly $16 billion in its initial public offering in the United States, a regulatory filing on Tuesday showed. Mobileye's initial public offering follows Porsche's (P911_p.DE) blockbuster debut in Europe and could be an early sign of improving investor sentiment. Register now for FREE unlimited access to Reuters.com RegisterMobileye confidentially filed for its IPO earlier this year and was targeting a $50 billion valuation before the rout in tech compelled many high-flying companies to stomach haircuts in valuation. Goldman Sachs, Morgan Stanley, Citigroup and BofA Securities are among underwriters of the offering. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin and Manya Saini in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ The labor market is out of control, says BofA's Ethan Harris
▼ + stars: | 2022-10-13 | 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 EmailThe labor market is out of control, says BofA's Ethan HarrisEthan Harris, BofA Securities global head of economic research, joins 'Closing Bell' to discuss inflation and stocks surging on hot inflation data.

☆ New cars are finally back in stock — but Americans might not be able to afford them
▼ + stars: | 2022-10-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty ImagesDETROIT — New cars are slowly becoming more widely available, as supply chain bottlenecks finally start to ease. But now, an increasing number of Americans might not want them or be able to afford them. With the Federal Reserve aggressively hiking interest rates to fight inflation, consumers are finding that the cost of financing a new car is suddenly a lot higher than it was even earlier this year. That means many Americans may no longer to be able to afford the new cars that are starting to arrive on dealer lots. That, combined with rising interest rates, is pushing more car shoppers to look at used vehicles.

☆ Stocks making the biggest moves premarket: Apple, CarMax, Bed Bath & Beyond and more
▼ + stars: | 2022-09-29 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

CarMax (KMX) – CarMax shares slumped 12.1% in premarket trading after the auto retailer missed estimates on both the top and bottom lines for its latest quarter. Bed Bath & Beyond (BBBY) – The housewares retailer posted a wider-than-expected quarterly loss and sales that fell short of consensus. MillerKnoll (MLKN) – MillerKnoll fell 7.3% in the premarket after its quarterly profit beat analyst estimates, although revenue fell short. Jefferies Financial (JEF) – Jefferies shares rose 1.6% in premarket action after posting a better-than-expected quarterly profit. The purchases came after Occidental shares lost about 20% of their value in less than a month.

☆ Fed to take rates higher than previously expected; more pain ahead
▼ + stars: | 2022-09-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

But that is unlikely to push the Fed to switch its policy path anytime soon as Fed Chair Jerome Powell and other policymakers have remained blunt about the “pain” to come. The survey predicted that would be followed by 50 basis points in December to end the year at 4.25%-4.50%. The real policy mistake is not bringing inflation back down to 2%,” said Michael Gapen, chief U.S. economist at BofA Securities. All but two of 51 economists who replied to an additional question said the risks were skewed towards a higher terminal rate than they currently expected. “The only way the Fed can do that is to hike rates and keep policy restrictive until that is achieved.”(For other stories from the Reuters global economic poll:)

☆ Fed to take rates higher than previously expected; more pain ahead - Reuters poll
▼ + stars: | 2022-09-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

☆ Singapore's SATS in $1.1 bln deal to become biggest air cargo handler
▼ + stars: | 2022-09-28 | by ( Yantoultra Ngui | ) www.reuters.com time to read: +3 min

SINGAPORE, Sept 28 (Reuters) - Singapore-based ground handling and catering provider SATS Ltd (SATS.SI) is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash in its largest ever deal, to create the world's biggest global air cargo handler. SATS' CEO Kerry Mok called the deal "a transformational opportunity for SATS", saying it would create a global leader. Last week, Bloomberg News reported that SATS had sounded out financing for a possible deal that could be worth about $3 billion. WFS reported 1.722 billion euros in revenue and earnings before interest, taxes, depreciation, and amortization of 232 million euros for the year ended March 2022. Founded in 1984, WFS is the world's largest air cargo logistics provider and a major provider of ground handling and technical services.

☆ Fed to take rates higher than previously expected; more pain ahead: Reuters Poll
▼ + stars: | 2022-09-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

The survey predicted that would be followed by 50 basis points in December to end the year at 4.25%-4.50%. All but two of 51 economists who replied to an additional question said the risks were skewed towards a higher terminal rate than they currently expected. "The short-run pain of recession would be better than the long-run pain of inflation expectations becoming unanchored." Also, unlike most major central banks, the Fed has backing from a strong currency and a relatively strong economy compared with its peers. "The only way the Fed can do that is to hike rates and keep policy restrictive until that is achieved."

☆ Chinese Company Aims to Sell 3 U.S. Resorts for $1.3 Billion
▼ + stars: | 2022-09-27 | by ( Craig Karmin | ) www.wsj.com time to read: 1 min

A Chinese company is looking to sell three major U.S. resort hotels at a combined price tag of $1.3 billion, seeking to cash out these holdings during a powerful surge in leisure travel and resort business. Dajia Insurance Group Co. is putting up for sale the Montage in Laguna Beach, Calif., the Four Seasons resort in Jackson Hole, Wyo., and the Four Seasons in Scottsdale, Ariz., according to people familiar with the matter. BofA Securities Inc. and real estate banking and brokerage firm Eastdil Secured LLC are marketing the hotels on behalf of the seller, these people said.

☆ I'm worried markets won't hit bottom until the Fed cuts rates, says BofA's Subramanian
▼ + stars: | 2022-09-23 | 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 EmailI'm worried markets won't hit bottom until the Fed cuts rates, says BofA's SubramanianSavita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, joins 'Power Lunch' to discuss why she believes stocks can fall further from here, where the strategist would point investors and more.

☆ Warner Bros. Discovery CEO David Zaslav faces 3 key challenges as financial headwinds disrupt his strategy and threaten his promises to Wall Street
▼ + stars: | 2022-09-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

MoffettNathanson analyst Robert Fishman crystallized the daunting task ahead for Zaslav and WBD in his August 5 report "Reality First. The honeymoon was short-lived," said one senior Hollywood insider. It turns out there are five, housing some 40,000 employees globally: Warner Bros., HBO Max, the Turner entertainment channel business, CNN, and Discovery. The WBD insider said there isn't a rush to hire a new chief and that the company will continue to meet people. Under the ownership of AT&T, WarnerMedia's financials were buried in its parent's spreadsheets — now as a pure-play entertainment company, Warner Bros.

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