News
WFC-PRW
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FACTBOX-What to expect in 2024: Fed pivot, cooling inflation, easing growth
Global growth will likely slow this year, banks say. But a dovish tilt in the U.S. Fed's stance has brightened the outlook for riskier assets. Forecasts from major banks on economic growth, inflation, Fed policy for 2024. S&P 500 targets for HSBC and Oppenheimer for real GDP growth in 2024.
Reuters · 2d ago
CERAWEEK-US pipeline firms poised to follow biggest customers into M&A
U.S. Energy pipeline and storage operators are gearing up for a merger wave in their sector. The midstream sector has seen $12.5 billion of deals announced through mid-March. This year will be the biggest for midstream mergers and acquisitions since 2019, analysts say. US pipeline firms poised to follow biggest customers into M&A.
Reuters · 6d ago
BUZZ-Goldman, JPM among brokerages doubling down on Fed rate cuts from June
Major brokerages continue to expect the Federal Reserve to start cutting interest rates in June. Goldman Sachs, JPM among brokerages doubling down on Fed rate cuts from June. The Fed left rates unchanged and reaffirmed three rate cuts this year. Deutsche Bank maintains its baseline for a cut starting in June, J.P.Morgan says.
Reuters · 03/21 07:42
BUZZ-U.S. STOCKS ON THE MOVE-Enservco, Citigroup, Tencent
Wall Street's main stock indexes were little changed on Wednesday. The Dow Jones Industrial Average was down 0.02% at 39,103.12. The Federal Reserve is expected to keep interest rates unchanged at its meeting. Enservco, Citigroup, Tencent and Chevron rise.
Reuters · 03/20 17:45
BUZZ-U.S. STOCKS ON THE MOVE-J.Jill, LivaNova, International Paper
Wall Street's main stock indexes were little changed on Wednesday. The Dow Jones Industrial Average was up 0.02% at 39,118.45. Chipotle Mexican Grill and American Airlines Group were among the top gainers. The Federal Reserve is expected to keep interest rates unchanged at its meeting.
Reuters · 03/20 16:20
BUZZ-U.S. STOCKS ON THE MOVE-PDD, Best Buy, Nasdaq
Wall Street was set for a lackluster open on Wednesday. Dow e-minis were down 0.16% ahead of the Federal Reserve's meeting. The Fed is widely expected to keep interest rates unchanged. Signet Jewelers and Best Buy were among the top percentage losers premarket.
Reuters · 03/20 13:18
US STOCKS-Futures tread water as investors await Fed decision
US stock futures tread water as investors await Fed decision. Futures: Dow off 0.06%, S&P up 0.30% Nasdaq down 0.25%. Federal Reserve expected to keep interest rates unchanged after two-day meeting. Intel rises after Biden administration announces $20 billion in aid.
Reuters · 03/20 12:29
BUZZ-U.S. STOCKS ON THE MOVE-Intel, Taysha Gene Therapies, General Mills
U.S. Stock index futures range bound as investors await the conclusion of the Federal Reserve's meeting. Intel, Taysha Gene Therapies, General Mills are among the top stocks on the day. The Fed is widely expected to keep interest rates unchanged at its meeting.
Reuters · 03/20 11:54
US STOCKS-Futures bide time in lead-up to Fed policy decision
U.S. Stock index futures range bound as investors await conclusion of Federal Reserve's meeting. Fed widely expected to keep interest rates unchanged after two-day meeting. PDD Holdings jumps after Q4 rev beats estimates. Tesla rises after saying it will raise price of China-produced Model Y cars.
Reuters · 03/20 11:31
BUZZ-Wells Fargo slips after Citigroup downgrades to neutral
Wells Fargo shares fall 1.2% to $56.33 premarket. Citigroup downgrades lender to from buy; hikes PT to $63 from $57. Brokerage says WFC is overvalued relative to peers in terms of cost of equity.
Reuters · 03/20 10:25
US STOCKS-Futures edge lower ahead of Fed decision
U.S. Stock index futures edge lower ahead of the conclusion of the Federal Reserve's meeting. The central bank is expected to keep borrowing costs unchanged. Focus will be on the Fed's two-day meeting later in the day. Wall Street rallied to all-time highs this month.
Reuters · 03/20 09:31
FACTBOX-What to expect in 2024: Fed pivot, cooling inflation, easing growth
Global growth will likely slow this year, major banks say. But a dovish tilt in the U.S. Federal Reserve's stance has brightened the outlook for riskier assets. Goldman Sachs, Morgan Stanley and others give forecasts for growth, inflation and Fed policy for 2024.
Reuters · 03/19 09:50
Wall St Week Ahead-Fracturing 'Magnificent Seven' trade puts spotlight on megacap valuations
The so-called "Magnificent Seven" are collectively trading at an average of 33 times their expected earnings. That compares with a price-to-earnings ratio of about 21 for the benchmark S&P 500 index. Diverging fortunes for the megacap stocks are putting spotlight on their pricey valuations. Investors have punished the shares of Tesla and Apple this year.
Reuters · 03/15 20:29
BUZZ-Cardlytics jumps after upbeat Q1 revenue forecast
Shares of purchase intelligence provider Cardlytics CDLX.O rise 38.8% to $11.36 premarket. Company forecast Q1 revenue between $70m and $73m, above analysts' expectations. Co partners with financial institutions to provide anonymized purchase data of digital banking customers.
Reuters · 03/15 10:09
Toyota becomes Asia's most shorted large-cap stock - Hazeltree
Toyota Motor Corp 7203.T becomes most shorted large-cap stock by hedge funds in the Asia Pacific region in February. U.S. Electric carmaker Tesla remains the mostShorted stock in the Americas. A short trade is a bet on a company's stock price falling.
Reuters · 03/12 14:00
EXCLUSIVE-Goldman Sachs seeks to expand private credit portfolio to $300 billion in five years
Goldman Sachs seeks to expand private credit portfolio to $300 billion in five years from current $130 billion. Private credit aspirations are larger than those of its peers. Non-bank lenders, or shadow banks, have expanded their lending in recent years. Goldman Sachs Asset Management also sees opportunities to increase its wealth management business.
Reuters · 03/12 10:00
Wall St Week Ahead-Battle for White House comes into sharper focus for Wall Street
U.S. President Joe Biden proposed raising corporate taxes in his State of the Union address. Investors are starting to factor in the 2024 presidential election for Wall Street. The S&P 500 is up about 7.4% year-to-date and stands at a record high. The market is awaiting the outcome of the presidential election and the Fed's inflation report.
Reuters · 03/08 21:35
Razor maker Harry's files for IPO, sources say
Razor maker Harry's files for IPO, sources say. Harry's has tapped investment banks to prepare for the stock market debut in New York. The company was valued at $1.7 billion in a private fundraising round in 2021. The razor maker is $1 billion in annual revenue and is profitable.
Reuters · 03/07 21:23
BREAKINGVIEWS-Lower rates, office return will ease property pain: podcast
Lower rates, office return will ease property pain: podcast. Post-pandemic boom in hybrid work is causing trouble for banks that have lent heavily to office developers. Breakingviews columnists explain how losses may be limited if central banks bring borrowing costs down and bosses call employees back.
Reuters · 03/07 18:32
BUZZ-Crescent Energy falls on secondary stock offering
Crescent Energy's CRGY.N shares down 5% at $10.72 premarket after overnight secondary offering priced. 12 mln shares sold by Independence Energy at 6.9% discount to last sale. Company reported six-fold increase in income in Q4.
Reuters · 03/07 14:21
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About WFC-PRW
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial. It provides retail, commercial and corporate banking services through banking locations and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. It provides other financial services through its subsidiaries engaged in various businesses, including wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing services, investment advisory services, mortgage-backed securities servicing and venture capital investment.