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Follow this list to discover and track stocks have the highest aggregate Environmental, Social and Governance scores as rated by Sustainalytics Research. This list is generated daily and limited to the top 30 stocks that meet the criteria.
Wells Fargo & Company
Coca-Cola FEMSA, S.A.B. de C.V.
National Grid plc
Digital Realty Trust, Inc.
First Republic Bank
Stanley Black & Decker, Inc. CORP UNIT 2017
Concho Resources Inc.
InterContinental Hotels Group PLC
Teva Pharmaceutical Industries Limited
Continental Resources, Inc.
Mobile TeleSystems Public Joint Stock Company
Grupo Aval Acciones y Valores S.A.
CF Industries Holdings, Inc.
Kimco Realty Corporation
Sociedad Quimica y Minera de Chile S.A.
Zions Bancorporation, National Association
Xerox Holdings Corporation
Cabot Oil & Gas Corporation
LATAM Airlines Group S.A.
WPX Energy, Inc.
New York Community Bancorp, Inc.
Cimarex Energy Co.
Bed Bath & Beyond Inc.
One way in which the sales-practices scandal that shook Wells Fargo & Co. in 2016 was worse than you think.
HP is promising bigger stock buybacks as it tries to hold off Xerox’s hostile bid. Meanwhile, Xerox could still raise its offer. Either way, investors win.
Airplane manufacturer Boeing Co is in talks with banks to obtain up to US$12bn in loans, a move that comes as financial pressures mount on a company reeling from a production halt on its 737 MAX aircraft, sources said. Citigroup is leading the new transaction, which opens at 100bp over Libor, in line with Boeing's current borrowing costs. The loan pays a 9bp fee before the company draws down on the funds.
Consumer groups had worried that the Trump administration's pick to lead the Office of the Comptroller of the Currency (OCC), Joseph Otting, would do little to change its reputation for leniency. A former chief executive of California's OneWest Bank, Otting as comptroller has referred to lenders as his "customers" and pursued rule changes pushed for by bank lobbyists. One person with knowledge of the matter said Wells Fargo's failure to swiftly fix systemic misconduct has angered Otting, precisely because he spent decades as a banker and felt he was held to high standards.
The Department of Justice is looking into whether executives withheld details about fake accounts to the Wells Fargo board of directors and the Office of the Comptroller of the Currency, the lead regulator for national banks, Reuters has reported. Consent orders: Wells Fargo is currently operating under roughly 14 consent orders with various regulators including the OCC, SEC, and the Consumer Financial Protection Bureau.
Rating Action: Moody's assigns B1 CFR to Aeroméxico; B2 to proposed notes. New York, January 24, 2020 -- Moody's Investors Service (Moody's) assigned a B1 Corporate Family Rating (CFR) to Grupo Aeroméxico, S.A.B. de C.V. (Aeroméxico.) and B2 to its proposed USD400 million senior unsecured global notes to be issued by its fully owned subsidiary Aerovías de México, S.A. de C.V. and unconditionally guaranteed by Aeromexico. This is the first time Moody's assigns a rating to Aeromexico.
Warren Buffett, chairman and CEO of legendary holding company Berkshire Hathaway (BRK.B), is often called the greatest value investor of all time. Although Buffett identifies targets based on their "intrinsic value," a number of Berkshire's holdings look like cheap stocks by more prosaic value indicators, too.Not every stock held by Berkshire Hathaway is necessarily a bargain at its current share price. After all, Buffett has held some of these names for decades. To that end, we scoured Berkshire Hathaway's portfolio of nearly 50 stocks to find the ones that look like they're on sale these days.In some cases, we relied on forward price-to-earnings multiples, which show what a stock costs in light of its expected earnings growth. (The S&P; 500, by the way, trades at 18.6 times expected earnings, by Yardeni Research's calculations.) In others, we also took into consideration book values. And naturally we paid attention to long-term growth forecasts and fundamentals.After sorting through the Berkshire Hathaway equity portfolio with those criteria in mind, these 10 names stood out among the cheapest Warren Buffett stocks. SEE ALSO: Every Warren Buffett Stock Ranked: The Berkshire Hathaway Portfolio
Bed Bath & Beyond (BBBY) has a dismal comps trend that persisted in third-quarter fiscal 2019. Also, the calendar shift for the Thanksgiving holiday, pricing and inventory issues hurt performance.
WestRock (WRK) Q1 results likely to reflect gains from investments, acquisitions as well as productivity and performance-improvement programs, negated by lower prices and higher maintenance downtime.
Years into a bond market bull-run, investors are banking on a brighter future for funds that buy the debt of financially troubled European companies whose bonds are offering meatier returns because they are more risky. With European economic growth expected to be subdued in 2020, and default rates tipped to rise, investors expect an increase in the number of companies that will struggle to service their debt. Private equity groups and asset managers are creating so-called special situation funds to identify suitable targets for these high-risk - and potentially high-reward - bets.
The US Office of the Comptroller of the Currency has announced heavy penalties against former bosses of Wells Fargo over a fake accounts scandal. The reversal of fortune has been painful since the controversy erupted in 2016. As new chief executive Charlie Scharf recently noted, Wells Fargo had emerged from the 2008 financial crisis “as the most valuable and most respected bank in the US”.
Atlanta-based golf retail leader has already moved into nine former Toys 'R' Us properties since the iconic toy chain closed its doors in 2018.
Moody's Investors Service ("Moody's") has today assigned a Baa2 foreign currency debt rating to the proposed USD-denominated senior unsecured notes to be issued by Bancolombia S.A. (Bancolombia). The Baa2 foreign currency senior unsecured debt rating is in line with Bancolombia's Baa2 global local currency deposit rating and incorporates two notches of uplift from the bank's ba1 baseline credit assessment (BCA) to reflect Bancolombia's systemic importance. The assessment considers Bancolombia's leading deposit franchise in Colombia; the Colombian authorities' track record of providing support to systemically important financial institutions in the past; and the material systemic consequences of an unsupported failure of any of them.
Elie Maalouf, chief executive of IHG’s Americas region, told MarketWatch at Davos that the resolution of trade disputes in China and Mexico will boost business for the world’s biggest hotel group.
(Bloomberg) -- Seven years ago, Wells Fargo & Co.’s security chief opened a few “undercover” bank accounts to aid law enforcement. Within 24 hours, two employees tacked on debit cards, claiming they each personally spoke to the new -- fictional -- customers.“All I could do was shake my head,” the security chief told a senior executive in an email.The exchange was among dozens of behind-the-scenes moments of frustration and fear cited by U.S. regulators Thursday seeking to impose a record $59 million in fines on the bank’s former leaders for allowing sales abuses to pervade its nationwide branch network. Three settled, including ex-Chief Executive Officer John Stumpf, who agreed to be banned from the industry and pay a $17.5 million penalty -- an unprecedented sanction of a former U.S. bank leader. Five others are fighting the case.The bank’s aggressive targets for opening new accounts “caused hundreds of thousands of employees to engage in numerous types of sales practices misconduct,” the Office of the Comptroller of the Currency wrote in its complaint against them.The bank’s staff confronted a stark dilemma every day for 14 years, according to the regulator: “They could engage in sales practices misconduct -- much of which was illegal -- to meet their goals, or they could struggle to meet their goals and face adverse consequences, including losing their jobs.”The OCC faulted Stumpf for failing “to respond to numerous warning signs.” Former chief administrative officer Hope Hardison and onetime risk chief Michael Loughlin also resolved its claims.‘Forced to Walk’The agency is looking to levy the heftiest penalty -- $25 million -- against former community banking chief Carrie Tolstedt. She and four other former executives -- general counsel Jim Strother, chief auditor David Julian, audit director Paul McLinko and community banking risk officer Claudia Russ Anderson -- are facing a public hearing before an administrative law judge. The regulator said it could decide to increase the civil penalties based on the evidence presented.An attorney for Russ Anderson didn’t respond to messages seeking comment. Representatives for the other four said the executives acted with integrity, sought to tackle problems and expect to clear their names once all of the facts are heard.The OCC laced its 100-page complaint against them with emails, internal memos and testimony, arguing that for years Wells Fargo’s management refused to ease off sales targets despite repeated warnings about abuses.“The bank had better tools and systems to detect employees who did not meet unreasonable sales goals than it did to catch employees” engaging in misconduct, the regulator said. Some were allegedly told that if they missed targets, they would be “transferred to a store where someone had been shot and killed” and if they did not make enough appointments they would be “forced to walk out in the hot sun around the block.”Gulf War StressWorkers warned bosses about the fallout of that pressure in impassioned memos.“The termination ax is suspended over our head one way or another,” an employee wrote in a complaint sent to Tolstedt’s office in 2012, according to the OCC. “Meet unreasonable goals or you will be terminated, cheat to meet the unreasonable goals and you will be terminated when caught.”“I was in the 1991 Gulf War,” another employee wrote to Stumpf’s office. “This is sad and hard for me to say, but I had less stress in the 1991 Gulf War than working for Wells Fargo.”Senior executives also heard about the trouble directly from affected customers. A former operating committee member’s wife received two debit cards in the mail that she hadn’t requested. The executive raised it with Tolstedt, who eventually told him to stop telling the story “because she thought it reflected poorly on the community bank,” the OCC wrote.The scandal erupted in September 2016, setting off a national furor. It prompted congressional hearings, Stumpf’s exit and more probes, including still-pending investigations by the Justice Department and Securities and Exchange Commission. The ire has spanned the political spectrum from Democratic Senator Elizabeth Warren to Republican President Donald Trump.The OCC previously seized unusual control over hiring and firing the bank’s leaders and, with other regulators, inflicted billions of dollars in fines and other costs on the company. But Thursday’s case was the agency’s first targeting executives over the matter. And it contrasts with the years after the financial crisis, when no CEO of a major U.S. bank was punished for faulty mortgage-bond sales and home foreclosures that upended the economy and hurt millions of Americans.Stumpf’s successor, Tim Sloan, stepped down last year after lawmakers and the agency expressed frustration with the pace of the bank’s cleanup. His replacement, Charlie Scharf, took over in October.“We are reviewing today’s filings and will determine what, if any, further action by the company is appropriate with respect to any of the named individuals,” Scharf told employees on Thursday, noting the bank won’t make any remaining compensation payments to the individuals during the review. “This was inexcusable. Our customers and you all deserved more from the leadership of this company.”To contact the reporters on this story: Hannah Levitt in New York at email@example.com;Jesse Hamilton in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, ;Jesse Westbrook at firstname.lastname@example.org, David Scheer, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Oil may be a necessity in today’s economy, but that doesn’t mean oil prices always go up. In recent years, supply has outpaced demand, putting downward pressure on prices. The fracking revolution in the US oil industry, which opened up previously non-viable or unavailable reserves in shale formations, has turned the US into the world’s largest oil producer and, for now, a net exporter of crude oil products.The effect on prices has been long-term macro-level volatility. Prices troughed four years ago, in January 2016, climbed steadily to peak in September 2018, and have been unable to regain highs since, in the face of increasing US production and slack global demand. Prices gained 35% last year, bur remain well below their 2018 high.OPEC, the world’s largest cartel of major oil producers, has announced several production cuts since December 2018 – the most recent just a month ago – in efforts to support prices and balance supply and demand. At the same time, the cartel sees demand expanding in 2020 and into 2021. OPEC Secretary General Mohammed Barkindo said recently, “what we see from our side is an upside potential of growth from the demand side of the equation, which will affect the total balance for the rest of the year…”For oil producers, increased demand may be the only way out of low-price regime. Middle East tensions in recent months – the Iranian attack on Saudi oil facilities, and the US-Iran spat in December – spiked prices, but the spikes faded quickly. Oil producers are hoping that Barkindo turns out to be correct, and that demand intensifies, as that will likely be the surest way out of the current low-price regime.For some small- to mid-sized oil companies, renewed demand may catch them well-prepared for an increased operational tempo and higher product deliveries. Which, in turn, will translate to improved profits and share prices for investors.We’ve used TipRanks’ Stock Screener tool to find three "strong buy" energy stocks that are primed for gains, as recent months have pushed their share price down. Let's take a closer look.Noble Energy (NBL)Houston-based Noble energy is mid-cap hydrocarbon exploration and development company with a global footprint. A slim majority of the company’s operations are in Texas – Noble is a major player in the Permian Basin and Eagle Ford formations – but the company is heavily invested in offshore operations in Equatorial Guinea and in the first natural gas production by both Cyprus and Israel. The Israeli gas fields holds 43% of Noble’s proven reserves.Noble’s operations in the Mediterranean went online in late 2019, and the capex on expansion combined with low prices to depress earnings. The company’s revenue came in at $1.12 billion for Q3, but that was down from $1.27 billion the prior year. Unadjusted earnings saw a sharper loss, from Q3 2018’s 47 cents to the recent 4 cents. However, the adjusted EPS, a net loss of 10 cents, was better than the 11-cent loss expected.Writing on the stock from Stifel Nicolaus, analyst Michael Scialla said, “Our analysis suggests the company's DJ and Southern Delaware Basin wells are significantly outperforming nearby peers. Despite an impending Eagle Ford production decline, the NBL's U.S. assets are poised to generate 2020 oil growth and FCF.”Scialla raised his price target on NBL to $37 (from $34), supporting his Buy rating on the stock. His price target implies room for a robust 65% upside. (To watch Scialla’s track record, click here)Another bullish view of Noble’s strength comes from its TipRanks Smart Score. This score, derived from eight separate data sets, comes in at a perfect 10, showing that the stock is likely to outperform the broader markets in the coming year. All in all, NBL’s recent analyst reviews include 7 Buys and just 2 Holds, giving the stock a Strong Buy from the consensus view. Shares are priced at an affordable $22.36, and the $28.44 average price target suggests an upside potential of 27%. (See Noble stock analysis at TipRanks)Goodrich Petroleum Corporation (GDP)Next up for our inspection is a micro-cap oil and gas company, with oil operations in Texas’ Eagle Ford formation and gas ops in Louisiana’s Haynesville Shale. Falling prices for both oil and gas have hurt the company, depressing share prices more than increasing production could compensate. GDP shares lost 32% in 2019.That loss, however, has made the company’s stock a bargain buy should improved demand push prices back up. In Q3 2019, the most recent reported, Goodrich’s natural gas output increased by 61% year-over-year, reaching 136 million cubic feet per day. High production kept earnings in the black, and while the 14-cent EPS missed the forecast, it was up 16% yoy.So, Goodrich’s situation now is simple: the stock is selling low, yet the company’s oil and gas production is increasing, and earnings are solid. It’s a firm base for future investment, and Wall Street is casting an interested eye at the company.Welles Fitzpatrick, of SunTrust Robinson, is among the analysts who believes Goodrich’s current position makes the stock a buying proposition. Fitzpatrick noted that the company’s forward guidance is “extremely conservative,” offering projections “substantially below” consensus. He was impressed, however, with the “[Goodrich’s] clean balance sheet and acreage in the core of the Haynesville.”Fitzpatrick backed his Buy rating with a $12 price target, suggesting room for 34% upside growth. (To watch Fitzpatrick’s track record, click here)GDP’s three most recent analyst reviews are all Buys, giving the stock a unanimous consensus rating of Strong Buy. Shares are priced modestly, at $8.71, and the $14.33 average price target indicates an impressive upside of 86%. (See Goodrich’s price targets and analyst ratings on TipRanks)WPX Energy, Inc. (WPX)Last on our list is WPX, a mid-cap company with a $5.3 billion market cap and operations in North Dakota and Texas. The company’s assets lie in the Williston Basin and the Permian Basin – two of North America’s richest oil-bearing formations. WPX’s proven reserves contain more than 480 million barrels of oil equivalent, of which a majority are in Texas. The company has over 700 operating wells on its land holdings.WPX holds a strong position in production, backed by large reserves. In 2018, the company showed $2.3 billion in revenues and brought in $150 million in net profits. WPX’s most recent reported quarter was Q3 2019, and showed EPS at 9 cents, below the 11-cent forecast but above the 7 cents reported the year before. Revenues beat the forecast, by 25%, coming in at $795 million, and beat the year-ago number by 64%.In mid-December, WPX shares spiked after the company announced its purchase of the privately held oil company – and Permian Basin competitor – Felix Energy. The deal was valued at $2.5 billion, adds land holdings from the Delaware Basin to WPX’s already-valuable portfolio. The Delaware is a rich shale-oil formation; this purchase adds the acreage, and reduces WPX’s competition.Evercore ISI analyst Stephen Richardson writes of WPX, “The market has rewarded WPX for a well-timed, structured, and priced acquisition of Felix… We have been of the view that legacy WPX was setting up to beat and raise in the Permian in 2020, and we think this… accounts for some of the additional oil growth now reflected in combined-co guidance… Felix is ratably almost doubling production on an exit to exit basis which unsurprisingly raised some eyebrows.”Richardson is bullish on this stock, and his Buy rating is backed up by a $16 price target – implying room for 28% growth to the upside. (To watch Richardson’s track record, click here)With 14 Buy ratings, WPX shares hold a Strong Buy rating from the analyst consensus. Shares are not expensive, priced at just $12.51, and the average price target of $17.07 suggests a strong upside potential of 37%. (See WPX’s stock analysis at TipRanks)
The printer and PC company said it has “numerous opportunities” to drive sustainable long-term value, including increased share repurchases and “value-creating M&A.”
John Stumpf’s settlement was one of several actions the Office of the Comptroller of the Currency announced Thursday against former Wells Fargo executives over customer-account misconduct.
In Xerox's latest effort to get HP to bend to its will and combine the two companies, it announced its intent today to try to replace the entire HP board of directors at the company's stockholder's meeting in April. Xerox and HP have been playing a highly public game of tit for tat in recent months. Xerox wants very much to combine with HP, and offered $34 billion, an offer HP summarily rejected at the end of last year.