Wall Street
Wall Street and the problem of “way too many publicly traded fintechs”
In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. A decade ago, the idea that an investment industry customer preferred to never speak with a human being seemed questionable. But it was among the soundbites from the robo-advisory firm Wealthfront, which came to market […]
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Tiger Global drops 14% in May during the tech sell-off, pushing hedge fund’s 2022 losses to over 50%
Chase Coleman’s Tiger Global Management suffered huge losses in May amid a tech-driven sell-off, making the hedge fund’s tough 2022 even worse. The growth-focused flagship fund at Tiger Global tumbled 14.3% in May, bringing its 2022 losses to over 50%, a source familiar with the return told CNBC’s David Faber. “Our recent public fund performance […]
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Tough new sanctions on Russia could hit world oil supply and change the OPEC+ dynamic
OPEC+ is expected to stick to its current production agreement for now, but behind the scenes the oil-producing nations could be planning for the day when Russia’s contribution to world oil supply could be far reduced. The European Union’s move to ban most Russian oil and put new sanctions on shipping insurance could seriously hamper […]
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Stock futures are little changed as investors dwell on health of the economy
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 18, 2022. Andrew Kelly | Reuters U.S. stock futures were flat Wednesday night as economic concerns dragged down investor sentiment. Futures tied to the Dow Jones Industrial Average edged lower by 13 points, or […]
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These ‘dividend aristocrats’ offer steady returns in an uncertain market, Credit Suisse says
As Wall Street starts another month with further volatility in the markets, Credit Suisse identified some “dividend aristocrats” that could offer investors steady returns. Analysts at the investment bank maintained an overweight rating on dividend stocks, even as they moved down to neutral on value stocks, according to a Friday report from the investment bank. […]
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How dollar stores can serve as inflation plays now that consumers are fighting high prices
Dollar stores could work as inflation plays for investors as shoppers try to stretch their budgets. Before their recent earnings reports, some traders were concerned that Dollar General and Dollar Tree would underperform, especially now that stimulus payments issued during the pandemic have faded. Those concerns grew after Target’s and Walmart’s dismal reports cast doubt […]
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Buy fertilizer stocks Corteva and Nutrien as supply challenges loom beyond 2023, Barclays says
Fertilizer and agricultural supply stocks will continue to get a boost from supply challenges that last beyond 2023, according to Barclays. Analyst Benjamin M. Theurer initiated research coverage of Corteva and Nutrien with overweight ratings, saying in a Wednesday note that demand will remain strong for agricultural products. “We see lasting supply/demand tightness beyond 2023, […]
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SeatGeek terminates deal to go public with Billy Beane’s SPAC due to market volatility
General Manager Billy Beane of the Oakland Athletics. Michael Zagaris | Oakland Athletics | Getty Images Ticketing platform SeatGeek and black-check firm RedBall Acquisition Corp. decided to terminate their $1.35 billion take-public deal amid a roller-coaster market. The move was a result of current unfavorable market conditions, particularly impacting growth technology companies, according to SeatGeek […]
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Wells Fargo analyst Mike Mayo calls Bank of America his number one bank pick
Wells Fargo’s Mike Mayo called Bank of America his number one pick for a “favorable bank investment.” Mayo reiterated his overweight rating on the stock, saying in a late Tuesday note that Bank of America’s stock price is promising even after pricing in a recession. Bank of America shares are down nearly 26% from their […]
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Bank of America names Nvidia a top pick as the valuation in chip stocks becomes more attractive
The case to buy Nvidia just got even more compelling, according to Bank of America. Analyst Vivek Arya named Nvidia a top pick, saying in a Tuesday note that chip stocks are already pricing in a recession, even as they generate better free cash flow margins than stocks in the broad market index. “While macro […]
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