Bank of America Corp
Morgan Stanley misses analysts’ profit expectations on worse-than-expected investment banking
James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue. Here are the numbers: […]
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From $10 billion to zero: How a crypto hedge fund collapsed and dragged many investors down with it
As recently as March, Three Arrows Capital managed about $10 billion in assets, making it one of the most prominent crypto hedge funds in the world. Now the firm, also known as 3AC, is headed to bankruptcy court after the plunge in cryptocurrency prices and a particularly risky trading strategy combined to wipe out its […]
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Family offices have become a $6 trillion powerhouse in investing—and deal-making
The post-pandemic wealth boom has sparked an explosion in family offices, creating a new gold rush among Wall Street firms, private equity funds and investment advisors to manage the fortunes of the world’s richest families. Family offices now manage more than $6 trillion in wealth, according to some estimates, surpassing the estimated $4 trillion managed […]
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Bank of America shares are a compelling buy even in a recession, Societe Generale says in upgrade
Investors should consider buying Bank of America even as recession risks linger, according to Societe Generale. Analyst Andrew Lim upgraded Bank of America to buy from hold, saying in a Monday note that the “quality bank” is looking cheap after falling 36% off its recent highs. “Bank of America (BoA) is the highest quality US […]
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Three stock market themes to play in the third quarter
The health care sector is often a sleepy performer but in this market turmoil it may prove to be one of the areas of not only safety in the third quarter — but growth. The third quarter could be a turbulent time, after the worst first half for stocks since 1970. As investors fear rampant […]
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Stocks making the biggest moves in the premarket: Nike, Spirit Airlines, Occidental Petroleum and more
Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike fell 2.4% in premarket trading despite reporting better-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecast current-quarter revenue below analysts’ estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market. Spirit Airlines (SAVE) […]
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Cramer’s lightning round: I like Belden over Encore Wire
“Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed. Source
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Stock index futures inch higher following a losing day Monday
Stock futures rose slightly in overnight trading Monday following a losing day as investors prepare to rebalance their portfolios with the end of the quarter fast approaching. Futures on the Dow Jones Industrial Average gained 36 points. S&P 500 futures edged up 0.2% and Nasdaq 100 futures rose 0.3%. The overnight action followed modest losses […]
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JPMorgan keeps dividend unchanged as rivals including Morgan Stanley boost payouts after Fed test
A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs. Reuters JPMorgan Chase said Monday that increasingly stringent capital requirements forced it to keep its dividend unchanged while rival banks announced bumps to their quarterly payouts. Bank of America said that it was raising its quarterly dividend […]
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‘Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half
Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” […]
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