Breaking News: Investing
These stocks have led the rally since the June bottom and could offer more momentum in the second half, Credit Suisse says
Credit Suisse believes the July stock market rally will continue, and has a list of names that could continue to ride the momentum from here. Stocks capped a strong month on Friday, rallying sharply off their June lows, as traders bet that markets have already priced in the likeliest recession expectations and shifted into more […]
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Bank stocks are ‘too cheap’ and could outperform S&P 500 after recession strikes, Oppenheimer says
Bank stocks have sold off this year on fears that a looming recession will rock the sector with surging loan defaults. But that reflex is an example of recency bias and ignores a few key differences in the U.S. financial industry after the 2008 financial crisis, Oppenheimer analyst Chris Kotowski said Friday in a research […]
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Chevron, Exxon post record quarterly profits as commodity prices boom
A floorhand operates a Chevron oil drilling rig near Taft, California. Chip Chipman | Bloomberg | Getty Images Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boost operations, and as the oil giants keep their spending in check. Chevron reported earnings of $11.62 billion during the three-month […]
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Deutsche Bank isn’t convinced a ‘slam dunk’ recession is underway just yet. Wants more evidence after latest GDP print
Deutsche Bank joined the growing chorus of voices that’s not convinced we’re in a recession yet — although the firm continues to believe we’ll likely land in one within the next year. “We still think a recession is almost a slam dunk over the next 12 months but want to see more evidence of employment […]
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PayPal veteran Jim Magats is named CEO of MX, the startup that connects banks and fintech players
Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is naming PayPal executive Jim Magats its new CEO, CNBC has learned. Magats, a nearly two-decade PayPal veteran who was most recently senior vice […]
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JPMorgan hires scientist Charles Lim to help protect financial system from quantum-supremacy threat
Dr. Charles Lim, Global Head of Quantum Communications and Cryptography, JP Morgan Chase Courtesy: JP Morgan Chase JPMorgan Chase has hired a Singapore-based quantum-computing expert to be the bank’s global head for quantum communications and cryptography, according to a memo obtained by CNBC. Charles Lim, an assistant professor at the National University of Singapore, will […]
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A ‘discretionary goods recession’ will hurt Best Buy, Jefferies says in downgrade
Best Buy investors should brace for more pain ahead, according to Jefferies. Analyst Jonathan Matuszewski downgraded shares of Best Buy to hold from buy, after the company lowered its forecast for the current quarter and fiscal year . Best Buy joins several other retailers that have reduced guidance because of weakening consumer demand. “[We] revisited […]
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Goldman Sachs downgrades Teladoc, slashes price target by nearly 35%, citing weak outlook
Goldman Sachs downgraded Teladoc Health and slashed its price target by nearly 35% after the telemedicine company issued a weak forecast. Teladoc shares plunged 21% in premarket trading on Thursday. On Wednesday, the company lowered its third-quarter forecast , citing challenges around consumer sentiment, currency headwinds and wage inflation for the weaker outlook. “While TDOC […]
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Solar stocks jump as Schumer, Manchin announce climate spending deal
Contractors install SunRun solar panels on the roof of a home in San Jose, California, on Monday, Feb. 7, 2022. David Paul Morris | Bloomberg | Getty Images Solar stocks jumped on Thursday after Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., said they’ve reached a deal on what would be the […]
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Small caps are starting to work — Here are a few buys from a top strategist in the group
Small caps are starting to outperform their large cap peers, and one top strategist has some stock picks for investors to play the trend. Jefferies’ strategist Steven DeSanctis believes small cap stocks have further to rally. After coming off their worst first half since 1973, small caps are due for a comeback, especially as early […]
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