JPMorgan Chase & Co
What may be behind Buffett’s surprising deep value bet on Citigroup
Count veteran banking analyst Mike Mayo among those on Wall Street surprised by Berkshire Hathaway ‘s recent $2.95 billion wager on Citigroup shares. The move, disclosed Monday in regulatory filings, is Berkshire’s biggest new bet on financials made in the first quarter. Berkshire also took a much smaller stake in online bank Ally Financial . […]
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JPMorgan picks China stocks to play Beijing’s infrastructure boost
China has announced big plans to build up more cities, and JPMorgan analysts say it’s time to buy some infrastructure stocks. That’s based on news earlier this month that China’s top executive body, the State Council, has loosened residency rules to allow migrant workers from rural areas to settle in smaller towns. By the numbers, […]
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Peloton CEO says he was surprised by how deep some issues ran at the company
Barry McCarthy, chief financial officer at Spotify, attend annual Allen & Company Sun Valley Conference, July 11, 2018 in Sun Valley, Idaho. Drew Angerer | Getty Images When Barry McCarthy showed up to run Peloton about three months ago, he was surprised to learn just how discombobulated the supply chain was and how quickly the […]
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Wall Street just had one of its wildest weeks in years. What happened and what could come next
Last week’s market swings pushed the major averages below key levels, made macro calls outdated within a few hours and rattled some of most resilient stocks. Source
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Despite the Fed’s big rate boost, most banks will still pay paltry interest rates
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks to tame inflation. The central bank’s actions mean that, in an era of sharply rising prices for everything from food […]
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Fanatics adds SoftBank executive, former Airbnb marketing chief to board of directors
A detailed photo of the Fanatics apparel displayed at NFL Hospitality during the 2018 NFL Annual Meetings at the Ritz Carlton Orlando, Great Lakes on March 26, 2018 in Orlando, Florida. Mark Brown | Getty Images Fanatics, the rapidly expanding sports e-commerce company, announced Thursday that it added SoftBank’s Lydia Jett and former Airbnb executive […]
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Major companies keep largely silent as leaked Supreme Court abortion draft sparks outrage
Demonstrators hold up signs during a protest outside the U.S. Supreme Court, after the leak of a draft majority opinion written by Justice Samuel Alito preparing for a majority of the court to overturn the landmark Roe v. Wade abortion rights decision later this year, in Washington, U.S. May 3, 2022. Elizabeth Frantz | Reuters […]
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Stocks making the biggest moves midday: Chegg, Expedia, BP and more
James Tahaney loads textbooks on to a pallet in preparation for shipping at the Chegg warehouse in Shepherdsville, Kentucky, April 29, 2010. John Sommers II | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Paramount Global – Shares fell 1.7% after the entertainment giant reported first-quarter revenue below expectations. The […]
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Goldman Sachs CEO David Solomon says in-person attendance tops 50% after return-to-office push
Goldman Sachs CEO David Solomon’s campaign to summon more of his employees back to the office is a work in progress that could take years, he said. In-person attendance at U.S. offices is between 50% and 60%, down from a pre-Covid figure of roughly 80%, Solomon told CNBC’s David Faber on Monday. That figure is […]
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Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway amid recession worries
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett has begun to unleash Berkshire Hathaway’s massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes in energy and computer corporations. But his recent moves are more notable for what he has avoided investing in — […]
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