First Republic gets a $30 billion rescue package, U.S. Treasury Secretary Yellen told Congress that the banking system is sound, and FedEx delivers better-than-expected results. First Republic Bank (FRC) shares fell over 20% in pre-market trading after announcing it was suspending its common dividend. Shares had skyrocketed yesterday after it received $30 billion in deposits from a group of large banks as part of a rescue package.
As the Fed raises interest rates, here are the biggest winners and losers from its latest decision.
The last few weeks have been rocky, with the collapse of Silicon Valley Bank, and the crypto-heavy Silvergate and Signature banks, dominating the headlines. For a short time, it seemed that the contagion would spread to the global financial giants. Now, however, it appears that we’ve managed to avoid a true banking crisis – and Raymond James’ chief investment officer Larry Adam has pointed out several reasons why. For starters, Adam notes that Credit Suisse, despite its troubles, found a way out
The market's bubble has now "burst," and will impact "everything everywhere all at once" in the U.S. economy, economists Stephanie Pomboy and Art Laffer argue.
Based on the average brokerage recommendation (ABR), NIO Inc. (NIO) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
The legendary investor published a chart which quantifies the uninsured clients and unrealized capital losses for major regional banks.
Regional bank stocks are on edge right now, and Treasury Secretary Janet Yellen's comments about deposits were enough to fray investors' nerves a little more.
Wolfe Research analyst Nigel Coe took a look at what GE Aerospace and GE Vernova will be worth on a stand-alone basis. GE Vernova, GE's power generation businesses, are due to be spun out in early 2024.
Nvidia ‘s latest rally has the stock less than $10 billion away from passing Berkshire Hathaway to become the fifth largest by market capitalization. At that point Nvidia stock had fallen 62% from the start of 2022 through its low on Oct. 14, leaving it with a market cap of just $279.6 billion, as worries about the chip sector and valuation weighed on the shares. Berkshire, on the other hand, dropped 12% through its own low on Oct. 12, when it was valued at $588.5 billion.
Being profitable on paper belies the tough situation for GameStop.
Elon Musk on late Monday offered his opinion on what the Federal Reserve should do with its benchmark interest rate. The Fed's FOMC is meeting for two days this week.
A "bull case" scenario for the shares of beleaguered First Republic Bank as it considers its options became more difficult on Wednesday after Treasury Secretary Janet Yellen said there is no discussion on insurance for all bank deposits without approval from the U.S. Congress. First Republic, whose shares have lost much of their value since the banking crisis started in the U.S. on March 8, is among banks speaking to peers and investment firms about potential deals in the wake of U.S. regulators' taking over Silicon Valley Bank and Signature Bank following bank runs. Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario.
Abel, who heads the non-insurance operations of Berkshire (ticker: BRK.A, BRK.B), purchased 55 class A shares at a price of $447,259 on Friday, lifting his stake in the A shares to 228 shares. Berkshire shares rose 1% Tuesday to $460,515, and the B shares gained 0.9% to $303.85. The purchases were made on behalf of the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.
Coinbase is warned by the Securities and Exchange Commission that the agency could take enforcement action against the crypto exchange, while shares of First Republic Bank and PacWest Bancorp post modest rebounds.
Nvidia’s share price has more than doubled over the past six months as it becomes the preferred supplier to both sides of the AI war raging between Google and Microsoft.
(Bloomberg) -- European stocks fell, led by banks, as investors assessed key rates decisions in the region. US equity futures climbed, signaling a recovery following a tumultuous day of losses on Wall Street Wednesday.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionBomb Threat Called In to New York Court Where Trump Hearing HeldA New Chapter of Capitalism Emerges From the Banking CrisisCoinbase Gets S
Before this sale, ARK Invest owned 9.9 million shares of the crypto exchange worth $575 million.
Chinese stocks have rebounded with Covid curbs over, but U.S.-China tensions are a concern. Several stocks are showing promising action.
Chewy (CHWY) delivered earnings and revenue surprises of 233.33% and 2.40%, respectively, for the quarter ended January 2023. Do the numbers hold clues to what lies ahead for the stock?
Accenture could lower its fiscal 2023 revenue outlook for ACN stock when it reports February-quarter earnings early Thursday, analysts say.
Barrick Gold (GOLD) closed the most recent trading day at $18, moving +1.75% from the previous trading session.
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