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☆ Eras Tour: Singapore defends Taylor Swift’s exclusive Southeast Asia stop after neighbors cry foul
▼ + stars: | 2024-03-05 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +5 min

CNN —Singapore is drawing fans from all over Southeast Asia and beyond to Taylor Swift’s Eras Tour, much to the annoyance of the city-state’s regional neighbors. “[Our] agencies negotiated an arrangement with her to come to Singapore and perform and to make Singapore her only stop in Southeast Asia,” Lee said at a press conference in Melbourne while on a state visit to Australia. I don’t see that as being unfriendly.”“If we had not made such an arrangement, would she have come to more places in Southeast Asia? Southeast Asia fans dig deep to see SwiftThe Eras Tour is a multi-continent extravaganza that surged to become the highest-grossing tour of all time – and Swift is making Singapore a lot of money. I never really spent big like six-digit (Philippine peso) amounts for someone else, just Taylor Swift,” Suizo said.

Persons: Taylor, Swift, Joey Salceda, Lee Hsien Loong, “, ” Lee, Edward Tong, ”, Srettha Thavisin, Taylor Swift, hasn’t, Edmund Ong, Yun Liu, Errol De Asis, Gilliane, Christel Kaye Kuan, Yedda Mendoza, ” Suizo, it’s, Granada, That’s Organizations: CNN, Southeast, Singapore –, ”, Singapore, Coldplay, World Bank Locations: Singapore, Southeast Asia, Melbourne, Australia, Bangkok, Thailand, Philippines, Asia, Maybank, ASEAN, Gilliane Granada, China, Granada

☆ Taylor Swift is making Singapore a mountain of money, and some of the country's neighbors are salty about it
▼ + stars: | 2024-03-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Edwin Tong, Singapore's culture minister, told local outlet Mothership on February 28 that the amount of grant given "is not what is being speculated online." As Tong, the Singapore culture minister, told Mothership, the city-state is looking "beyond just the economic impact" of Swiftonimics. Economists estimate that Swift's concerts in Singapore could contribute up to 500 million Singapore dollars, or $372 million, in tourist receipts. AdvertisementIt's a different story for spending on experiences — and it's heightened because Singapore is Swift's only stop in Southeast Asia. Mann said the people who have money to pay for flight tickets, Swift's concert tickets, and a hotel are likely to keep spending at other tourist spots.

Persons: —, Taylor Swift, Srettha, Edwin Tong, Swift, it's, Yun Liu, Tong, Kevin Cheong, David Mann, Mann, Coldplay, Si Ying Toh, Cheong, Joey Salceda, Sandiaga Salahuddin Uno Organizations: Service, Business, HSBC, Asia Pacific, Mastercard, Nomura, Philippine Star, Bloomberg, Vegas Locations: Singapore, Southeast Asia, British, Thailand, Bangkok, Indonesia, Sands

☆ With the Nasdaq at record highs, these are the benchmark's most beloved stocks that are expected to rally
▼ + stars: | 2024-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Even as the Nasdaq Composite is surging to new highs, investors can still find stocks within the index that have room to run. These stocks have a consensus buy rating from analysts and have an upside of 20% or more from their average price targets. Analysts have a consensus buy rating on both stocks, and think AstraZeneca could rally more than 26%, while Biogen could jump roughly 40%. Bank of America last month reiterated its buy rating on Baker Hughes. Twenty-two of the 27 analysts polled by LSEG rate the stock a buy or strong buy, and the average price target suggests 35% upside from here.

Persons: Biogen, Wells, Baker Hughes, Saurabh Pant Organizations: Nasdaq, CNBC, Stock, AstraZeneca, Warner Bros, Biotechnology, Biogen, Deutsche Bank, Analysts, Moderna, HSBC, Discovery, Bank of America, CCS, " Bank of America

☆ Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
▼ + stars: | 2024-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.

Persons: —, Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European

☆ China PMI: Factories send mixed signals about the economy, pressing Beijing to do more
▼ + stars: | 2024-03-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

But the Caixin manufacturing PMI — which focuses on smaller, private companies — rose to 50.9 in February, up from 50.8 in January, according to S&P Global, which compiled the survey. The divergence in the output and new order sub-indexes is likely related to differences in geographic and sector coverage, as the Caixin PMI covers more southern regions, they said. “Overall, the manufacturing sector continued to improve in February,” said Wang Zhe, senior economist at Caixin Insight Group, in a statement that accompanied the Caixin PMI data. “Looking ahead, the focus should be on the effectiveness of the measures [announced previously by Beijing to boost growth],” Wang said. “Fiscal policy will lead the way,” HSBC analysts said Friday.

Persons: ” Goldman Sachs, ”, Wang Zhe, ” Wang, Xi Jinping, Lintao Zhang, “ Organizations: Hong Kong CNN, National Bureau of Statistics, P, National People’s Congress, PMI, Caixin Insight, “, of People, Communist Party’s Politburo, NPC, Xinhua, HSBC Locations: China, Hong Kong, Beijing, Southern China, Guangdong, Zheijang, ” China

☆ Most China EV makers, including BYD, have 'very limited U.S. volume exposure,' analyst says
▼ + stars: | 2024-03-01 | 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 EmailMost China EV makers, including BYD, have 'very limited U.S. volume exposure,' analyst saysYuqian Ding, head of China autos research at HSBC Qianhai, says that's because of tariffs and restrictions from the Inflation Reduction Act.

Persons: Yuqian Ding Organizations: China EV, China, HSBC Qianhai Locations: China

☆ Rates have repriced, it's unrealistic to expect equities to go lower, syas HSBC's Kettner
▼ + stars: | 2024-03-01 | 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 EmailRates have repriced, it's unrealistic to expect equities to go lower, syas HSBC's KettnerMax Kettner, HSBC Global Research, joins 'Closing Bell' to discuss Kettner's thoughts on equities at the beginning of the year and now, how Kettner is positioning now, and how much equity markets need the Fed to cut rates for more growth.

Persons: Max Kettner Organizations: HSBC Global Research

☆ Qatar’s Lusail Towers: Norman Foster on how to ‘reinvent the tall building’
▼ + stars: | 2024-02-29 | by ( Rochelle Beighton | ) edition.cnn.com time to read: +4 min

CNN —Lord Norman Foster, renowned as one of the world’s foremost architects, has dedicated decades to redefining the concept of tall buildings. Currently nearing completion and set to reach a height of 301 meters (988 feet), Foster’s Lusail Towers are poised to claim the title of Qatar’s tallest buildings, surpassing the current record holder, The Torch Doha. Breaking ground in January 2020, the Lusail Towers stand amidst a plethora of new developments in the area, including Lusail Stadium, also designed by Foster + Partners for the 2022 FIFA World Cup. Building from the ground upWhile the towers are poised to become a recognizable landmark for Lusail, Foster believes that a city’s skyline reflects what lies beneath the surface. The Lusail Towers are set to be completed in phases over the next 12 months.

Persons: Norman Foster, St Mary Axe, he’s, Foster, ” Foster, “ We’ve, “ It’s, Luke Fox, ” Fox Organizations: CNN, St, HSBC, Foster + Partners, Lusail, Foster, Partners, AFC Asian Locations: Hong Kong, Qatar, Doha, Lusail

☆ Coldplay, then Taylor Swift: Concert economics are driving a tourism boom in Singapore
▼ + stars: | 2024-02-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Coldplay, Ed Sheeran, and now Taylor Swift. Singapore is eyeing concert economics as its new growth driver, which is set to add hundreds of millions of dollars in tourism receipts. Fans bought 200,000 tickets as the shows sold out within hours, breaking the city-state's record for the most tickets sold by an artist in a single day. And starting this weekend, Singapore will host American popstar Taylor Swift, whose Eras Tour in the U.S. last year was estimated to generate around $4.6 billion in consumer spending. "Taylor Swift is also widely expected to generate a sizable economic boost, given her past record," Liu added.

Persons: Coldplay, Ed Sheeran, Taylor Swift, Yun Liu, Agoda, popstar Taylor Swift, Liu Organizations: Singapore's, Coldplay's Music Locations: Singapore, ASEAN, British, Asia, Pacific, Malaysia, Indonesia, U.S

☆ There is a case to 'stick with equities,' especially in the U.S., CIO says
▼ + stars: | 2024-02-26 | 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 case to 'stick with equities,' especially in the U.S., CIO saysWillem Sels, global CIO of HSBC's Global Private Banking and Wealth division, discusses U.S. vs European equity markets and which sectors are performing well.

Persons: Willem Sels Organizations: HSBC's, Private Banking, Wealth Locations: U.S

☆ Stocks making the biggest moves premarket: Domino's Pizza, Berkshire Hathaway, Moderna, Fluence Energy and more
▼ + stars: | 2024-02-26 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

HashiCorp — Shares of the software company popped 8% on the back of an upgrade by Morgan Stanley to overweight from equal weight. Berkshire Hathaway — Class B shares of Warren Buffett's conglomerate climbed nearly 3% on the back of a nearly 30% year-over-year surge in operating earnings for the fourth quarter. Monday.com — Shares ticked up 2% after Bank of America initiated the coverage of the cloud platform company with a buy rating. Fluence Energy — Shares added more than 5% after an upgrade to positive from Susquehanna Financial. Amer Sports — Shares popped 6% following a slew of positive initiations for the athletic company, which manufacturers the Wilson tennis racket.

Persons: HashiCorp, Morgan Stanley, Monday.com, Michael J, Funk, Biju Perincheril, Wilson, Amer Sports, Goldman Sachs, —, Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Berkshire Hathaway —, Warren, JPMorgan, Bank of America, Fluence Energy, Susquehanna Financial, HSBC, Amer, Citi

Analyst Mike Mayo assigned an overweight rating and $70 price target, which suggests more than 25% upside for shares. Analyst Bill Katz raised his price target by $14 to $128 on the outperform-rated company, which has seen roughly 74% share price growth over the past year. He upped his price target by $25 to $350, implying roughly 19.5% upside for the company, which will report fiscal fourth-quarter results on Wednesday. "While LT debates around monetization and competition have yet to be resolved, we think risk-reward now skews attractive given an improving cloud demand backdrop." It also raised its price target to $86 from $75, but the new forecast still implies downside of more than 13% going forward.

Persons: Morgan Stanley, HashiCorp, Wells, Mike Mayo, Mayo, — Pia Singh, TD Cowen, Cowen, Bill Katz, Katz, Jefferies, Brent Thill, Thill, Salesforce, bode, Sanjit Singh, Singh, Yifeng Liu, Fred Imbert Organizations: CNBC, HSBC, Moderna, Citigroup, Citi, Discover Financial Services, KKR, Salesforce, HSBC downgrades Moderna, Merck & Co Locations: Wells, monetization

☆ Stocks making the biggest moves midday: Berkshire Hathaway, R1 RCM, Freshpet, Amer Sports and more
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Earlier in the session, the conglomerate's stock reached all-time highs, following strong operating earnings in its fourth quarter. Pilgrim's Pride — Shares climbed 6.2% after the meat processing company beat Wall Street's expectations for the fourth quarter. Amer Sports — The athletic retailer climbed 3% on the back of a slew of bullish calls from Wall Street analysts. Fresh Del Monte Produce — Shares fell 2% after the agriculture company reported quarterly results that fell short of expectations. Revenue of $1.01 billion was lower than the consensus estimate of $1.03 billion.

Persons: Berkshire Hathaway —, Morgan Stanley, Pilgrim's, FactSet, Wilson, Arc'teryx, — CNBC's Brian Evans, Michelle Fox, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Berkshire, U.S . Securities, Exchange Commission, Amer, Wall Street, Micron Technology, —, HSBC, Alcoa —, Alcoa, Fluence Energy, Susquehanna Financial, Produce, FactSet, PPG, PPG Industries Locations: FactSet ., U.S, Canada

☆ Here are Monday's biggest analyst calls: Nvidia, Alphabet, Salesforce, Arm, CVS, BJ's, Super Micro & more
▼ + stars: | 2024-02-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Salesforce, Rosenblatt, Jefferies, Amer, Wells, Jane Fraser, Roth MKM, Roth, TD Cowen, TD, DA Davidson, OW, Fannie Mae, KBW, Freddie, Truist, it's, Piper Sandler, Piper, Bentley Organizations: Nvidia, BMO, Apollo, Amer Sports, Citi, Citigroup, Bank of America, KKR, APO, BJ's Wholesale, D.A, Susquehanna, Energy, HSBC downgrades Moderna, HSBC, Moderna, Google, YouTube, " Bank of America, Omega Healthcare, Sun, DuPont's Mobility, JPMorgan, Navy, Bentley Systems Locations: USD75, Asana, ASAN

☆ Millennials having fewer kids could be a drag on the economy for the next decade
▼ + stars: | 2024-02-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

At the current trajectory, that's set to weigh on the economy for the next decade or more. AdvertisementMillennials aren't having as many kids as previous generations, and that fact could end up dragging down economic growth for more than a decade. "What you're talking about is these birth rates dropping very, very low levels, which over the course of time has huge impacts on the economy," Pomeroy said. The impact of millennials having fewer kids will likely be worse than the impact of aging boomers — and the most dire consequences could come 10-15 years from now, Pomeroy estimated. The most important thing to encourage people to have more kids might be a cultural shift in how we talk about children, Buchholz says.

Persons: Millennials, —, James Pomeroy, Pomeroy, Todd Buchholz, …, boomers, Buchholz, That's, DINK, " Buchholz, it's Organizations: Service, Centers for Disease Control, White House, Medicare, Social Security, CNBC, Sony PlayStation Locations: China, Japan, Russia

☆ StanChart lowers income target as China weighs, launches $1 billion buyback
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +2 min

Standard Chartered on Friday rewarded shareholders with dividends and a fresh $1 billion buyback as profit rose 18%, but set out modest growth forecasts that will concern investors amid worries about global banks' exposure to China. The bank reported 2023 statutory pre-tax profit rose to $5.09 billion, in line with forecasts, and announced a jump in dividends alongside the buyback. The lender booked 13% income growth in 2023 in constant currency terms. A fresh $150 million writedown of its stake in Bohai Bank, following a $700 million hit earlier this year, reduced its value to $700 million from $1.5 billion at the start of the year. That brought total provisions for its China real estate exposure to $1.2 billion in the last 3 years.

Persons: StanChart Organizations: Bohai Bank, HSBC, Wednesday, British Locations: China, Asia, Bohai, Bohai Bank

☆ Here's why investors should stop worrying so much about concentration risk in the market
▼ + stars: | 2024-02-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The World(MSCI All Country World Index weighting)Entire U.S. stock market: 63%Japan, UK, Canada, France, Hong Kong/China combined: 17.5%Magnificent 7: 17%Source: Dimensional FundsThat seems crazy, no? For example, in the mid-1960s the concentration of the top 10 was over 40% of the S&P 500. Investors who own the S&P 500 don't have to pick those winners; they just go along for the ride. Second, U.S. stocks are global market leaders, and when a small group becomes market leaders it almost always means the U.S. stock market outperforms the world. The U.S. stock market, which was roughly 40% of the global market capitalization a short while ago, is now roughly 50% of global market capitalization.

Persons: Gregory Rowe, Berkshire Hathaway, Lilly, It's, — Organizations: New York Stock Exchange, Berkshire, Broadcom, Nvidia, Eck Semiconductor, Dimensional Fund Advisors, FS Investments, IBM, American Express, General Electric, Polaroid, Xerox, U.S, Baidu, SAP, Siemens, United, Shell, AstraZeneca, HSBC Locations: New York City, Miami Beach, Japan, UK, Canada, France, Hong Kong, China, U.S, Germany, United Kingdom

☆ Stocks making the biggest moves before the bell: Nvidia, Moderna, Rivian, Etsy and more
▼ + stars: | 2024-02-22 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The company also said revenue in the current quarter would be stronger than Wall Street forecasted. Moderna — Shares were up more than 5% after the vaccine maker posted a greater-than-expected revenue for the fourth quarter. The company's top line registered at $2.81 billion, while analysts polled by LSEG had forecast a print of $2.50 billion. Lucid — Shares pulled back more than 7% after the luxury electric vehicle company missed revenue estimates in the fourth-quarter. Specifically, Lucid posted $157 million, while analysts expected $180 million, per LSEG.

Persons: LSEG, Lucid, Cantor Fitzgerald, —, Rivian, Synopsys, Morgan Stanley, FactSet, Remitly, TD Cowen, Oliver Chen, KeyBanc, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Sarah Min Organizations: Nvidia, Wall, —, Moderna, LSEG, BMO Capital Markets, Coty —, ASML, HSBC, Gates Locations: Thursday's premarket, Wednesday's

☆ Here are Wednesday's biggest analyst calls: Amazon, Target, Dell, Microsoft, HP, SolarEdge, Norfolk Southern & more
▼ + stars: | 2024-02-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"Downgrade to Reduce (from Hold) while retaining target price of USD323 on valuation and lack of near-term catalysts." JPMorgan reiterates Amazon as a top idea JPMorgan said it sees further share gains for shares of Amazon. Redburn Atlantic Equities reiterates Microsoft as buy Redburn said it sees Microsoft's Azure gaining market share in cloud. Wells Fargo reiterates Target as overweight Wells raised its price target on the stock to $165 per share from $155. "We are initiating coverage of ChargePoint Holdings, Inc. with a Buy rating and a $4.25 Price Target.

Persons: Piper Sandler, Piper, Redburn, Cantor Fitzgerald, Cantor, Wells, Morgan Stanley, Dell, it's, DELL, Jefferies, Stifel, Goldman Sachs, Goldman, SEDG Organizations: Street, HSBC downgrades, HSBC, Home, JPMorgan, Palo Alto Networks, billings, Barclays, Norfolk, Walgreens Boots Alliance, Walgreens, Microsoft, Sabre Corporation, Dell, EV, ChargePoint Holdings, Inc, UBS, HP

☆ Stocks making the biggest moves premarket: Nvidia, SolarEdge, Teladoc, Palo Alto Networks and more
▼ + stars: | 2024-02-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

SolarEdge Technologies — Shares dropped more than 20% after the company posted mixed quarterly results. However, revenue guidance for the first quarter was well below analyst expectations . Teladoc — Shares dropped 20% the morning after the online health-care company posted worse-than-expected revenue and guidance. The company posted a loss of 17 cents per share, smaller than the 21-cent figure anticipated by analysts surveyed. Palo Alto Networks topped earnings and revenue expectations for the recent quarter, but said it anticipates slower growth for the full year.

Persons: Teladoc, RingCentral, LSEG, Brandon Oglenski, Alan Shaw, HSBC's, Noel Quinn, Wingstop, — CNBC's Michelle Fox, Alexander Harring, Fred Imbert, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nvidia, SolarEdge, LSEG, Palo Alto Networks, Alto Networks, Toll, JPMorgan, Norfolk Southern, Barclays, Amazon, Dow Jones, Walgreens, Alliance, HSBC —, Wall Street, FactSet Locations: Palo, billings

☆ CNBC Daily Open: Is the final leg of inflation fight the hardest?
▼ + stars: | 2024-02-21 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong ralliesHong Kong stocks rallied on Wednesday, while the wider region traded mixed. U.S. stocks tumbled overnight, dragged lower by a 4.4% drop in Nvidia shares ahead of the chipmaker's earnings report. Pros say that exposure can come from real estate investment trusts and picked 5 REITS that are in play.

Persons: Pina, Dow, Noel Quinn, Nikesh Arora, Andrew Amoils Organizations: CNBC, CSI, Nvidia, Nasdaq, HSBC, Palo, Palo Alto Networks, New Locations: Brooklyn, New York, Hong Kong, U.S, Vietnam

☆ HSBC 2023 results: $3 billion China writedown hits annual profit
▼ + stars: | 2024-02-21 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Of the total, $3 billion was related to BoCom, one of China’s biggest banks, while $2 billion was from selling its retail banking business in France. Separately, HSBC made $3.4 billion in provisions to cover expected credit losses and other charges related to its exposure to the commercial real estate sector in mainland China. The property market has since entered a prolonged slump, marked by an ongoing decline in real estate investment and sales of property. The charges reported by HSBC cast a shadow over its record annual profit, which came in at $30.3 billion, up 78% from 2022. In October, rival Standard Chartered reported a $186 million credit impairment charge related to commercial real estate in the country.

Persons: “, Matt Britzman, Hargreaves Lansdown, Mark Tucker, — Hanna Ziady Organizations: Hong Kong CNN — HSBC, China’s Bank of Communications, HSBC, HSBC isn’t, Chartered Locations: China, Hong Kong, Asia, France, BoCom, Mainland China

☆ HSBC shares sink 3% after pre-tax annual profit misses estimates on impairment costs
▼ + stars: | 2024-02-21 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. HSBC 's full-year 2023 pre-tax profit missed analysts' estimates, hit by impairment costs linked to the London-based lender's stake in a Chinese bank — sinking its shares by as much as 3%. With three share buy-backs in 2023 totaling $7 billion, Quinn said the bank returned $19 billion to shareholders last year. The bank suffered a "valuation adjustment" of $3 billion on its stake in Bank of Communications, Quinn said. HSBC's Hong Kong shares reversed gains of about 1% after trading resumed, falling as much as 3.2% in early afternoon trade.

Persons: LSEG, Noel Quinn, Quinn Organizations: HSBC Holdings Plc, HSBC, Bank of Communications Locations: Hong Kong, China, London, Europe's, Bank

☆ What to expect from Nvidia earnings after the stock's 'recent parabolic run-up'
▼ + stars: | 2024-02-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Some Wall Street analysts are bracing for a pullback in Nvidia shares after the chipmaker reports fiscal fourth quarter results after the bell Wednesday. "We reiterate Buy/top pick ahead of NVDA Feb-21 earnings but won't be surprised to see a notable but brief pullback after the recent parabolic run-up in the stock," wrote Bank of America analyst Vivek Arya in a recent note. Nvidia shares slid more than 4% during Tuesday's session, but they have surged 40% in 2024. "Hence, we see limited room for further earnings upside in 2024 relative to the sales and earnings surprise that we saw in 2023." Even if Nvidia tops estimates, some on Wall Street anticipate a post-earnings decline akin to what's occurred during previous prints.

Persons: NVDA, Vivek Arya, Frank Lee, Tom O'Malley, Morgan Stanley's Joseph Moore, haven't, Rosenblatt, Raymond James, Srini Pajjuri, O'Malley, Timothy Arcuri, Evercore ISI's Julian Emanuel, — CNBC's Michael Bloom Organizations: Nvidia, Bank of America, HSBC, Barclays, UBS

A railroad stock and a fast food giant were in focus Wednesday among early analyst calls. Barclays raised its rating on Norfolk Southern to a buy-equivalent rating, and his new price target calls for about 20% upside. The firm downgraded the retailer to reduce from hold and maintained a $323 per share price target. — Brian Evans 5:44 a.m.: Barclays upgrades Norfolk Southern Norfolk Southern could see a shake-up to its leadership, and Barclays thinks these changes could lead to strong gains for the stock. He also hiked his price price target to $305 from $255.

Persons: SolarEdge's, Morgan Stanley, Andrew Percoco, Goldman Sachs, Brian Lee, SEDG, Vikram Bagri said.Bagri, — Brian Evans, Piper Sandler, Piper Sandler's, Rob D, Owens, Brian Evans, Daniela Bretthauer, John Ivankoe, Brandon Oglenski, Ancora, It's, Alan Shaw, Oglenski, Fred Imbert Organizations: CNBC, Barclays, Norfolk, JPMorgan, Palo Alto Networks, billings, Palo Alto, HSBC downgrades Home, Depot, HSBC, Home Depot, JPMorgan downgrades, Norfolk Southern, NSC Locations: Wendy's, Norfolk Southern Norfolk Southern, Norfolk Southern, Norfolk

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