Bank of America Corp
Why JPMorgan Chase is prepared to sue the U.S. government over Zelle scams
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023. Evelyn Hockstein | Reuters Buried in a roughly 200-page quarterly filing from JPMorgan Chase last month were eight […]
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Stocks making the biggest moves midday: Flutter Entertainment, Hewlett Packard Enterprise and more
Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. The company also forecasts total revenue growth of about $21 billion in 2027. Hewlett Packard Enterprise — The tech stock jumped […]
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SEC charges Merrill Lynch, Harvest Volatility Management for ignoring client investment limits
Key Points The Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients’ predesignated investment limits over a two-year period. The two companies settled separately and will pay a combined $9.3 million to resolve the claims. The SEC found Harvest exposed investors to greater financial risks and Merrill connected […]
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What Warren Buffett’s recent moves say – and don’t say – about today’s market
When the man who’s built the greatest fortune in history from investing alone – and whose preferred holding period is “forever” – becomes a resolute seller of two of the most widely held stocks in the world, the questions about what it means for the market and economy are inevitable. And so it is with […]
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JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns
Key Points JPMorgan Chase created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street firms to examine how they treat their youngest employees. The firm named Ryland McClendon its global investment banking associate and […]
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China’s economy is going through a ‘slow, painful, grinding adjustment,’ analyst says
People walk along the Huguosi street, Xicheng district, a dedicated food street in Beijing on August 23, 2024. Adek Berry | AFP | Getty Images SINGAPORE — Following a slew of data released over the weekend from China that painted a fairly bleak outlook for its economy, analysts have tapered their expectations for the country’s […]
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CNBC Daily Open: Moving past sticky core inflation
Prices are displayed in a store window in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images 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 […]
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Stocks making the biggest moves midday: GameStop, Viking Therapeutics, Trump Media and more
Check out the companies making headlines in midday trading. Trump Media & Technology — The stock fell more than 13% following Tuesday’s debate between majority shareholder former President Donald Trump and Democratic Vice President Kamala Harris. On Wednesday, Trump Media hit its lowest intraday level since going public on the Nasdaq in late March. Rentokil […]
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Berkshire unloads another chunk of Bank of America as CEO Moynihan lauds Buffett as great shareholder
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC Warren Buffett’s Berkshire Hathaway offloaded another chunk of Bank of America shares, bringing its total sales to more than $7 billion since mid-July and reducing its stake to 11%. The Omaha-based conglomerate shed a total of 5.8 […]
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Wall Street is turning less bullish on tech darling ASML for several reasons
Analysts at major Wall Street banks are getting more cautious on chip darling ASML , raising concerns about the critical chip equipment maker’s demand outlook. Earlier this week, investment bank UBS downgraded ASML to “neutral” and cut its price target on the stock to 900 euros ($1,000.78) from 1,050 euros previously. In the note, UBS said […]
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