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BUZZ-Microsoft, Oracle among potential TikTok buyers, Wedbush says
Brokerage Wedbush says potential buyers for TikTok could include Microsoft and Oracle. House of Representatives passed a bill that would ban TikTok in US if it is sold. China may retaliate against U.S. Companies if forced sale or ban of TikTok is forced.
Reuters · 1d ago
ANALYSIS-US consumers on lower incomes face loan stress while banks pull back
US consumers on lower incomes face loan stress while banks pull back. Bank of America's charge-offs rose to $1.5 billion in first quarter from $807 million a year earlier. Household finances for those earning less than $45,000 are deteriorating. Banks are becoming more cautious about lending to consumers on higher incomes.
Reuters · 1d ago
US BANCORP <USB.N>: UBS CUTS TARGET PRICE TO $43 FROM $47
Reuters · 4d ago
WRAPUP 2-Wall St sees more pain ahead for US mid-sized lenders after dull Q1
U.S. Mid-sized banks' profits to remain under pressure for most of 2024, analysts say. Regions Financial, Fifth Third Bancorp and others reported smaller first-quarter profits on Friday. Net interest margin contracted across regional lenders for the second straight quarter. High interest rates have stymied loan growth and pushed up deposit costs.
Reuters · 4d ago
Fifth Third Bancorp's quarterly profit falls on lower interest income
Fifth Third Bancorp's quarterly profit falls on lower interest income. Higher deposit costs weighed on the lender's interest income in the first quarter. Regional banks have increased the interest rates they offer on deposit accounts to retain customers. The bank's total average deposits rose 5% to $168.12 billion.
Reuters · 4d ago
CORRECTED-U.S. RESEARCH ROUNDUP-Blackstone, Ellington Financial, Netflix
Blackstone, Ellington Financial, Netflix revise their ratings and price targets on several U.S. Companies. Deutsche Bank raises Abbvie Inc target price to $175 from $170, and cuts it to $140 from $145. Blackstone, ellington financial and Netflix also revise their targets on Friday.
Reuters · 4d ago
U.S. BANCORP <USB.N>: OPPENHEIMER CUTS TARGET PRICE TO $54 FROM $55
Reuters · 5d ago
CORRECTED-BREAKINGVIEWS-Wells Fargo has worn its dunce cap long enough
Wells Fargo was prohibited from getting bigger for a series of flagrant customer abuses. John Foley says the bank has worn its dunce cap long enough. He says the $2 trillion cap on assets is costly to Wells Fargo. The bank missed out on $540 billion of deposit growth, he says.
Reuters · 5d ago
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