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Trim exposure to Apple, Microsoft: strategist
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Dow Analyst Moves: JPM
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Jim Cramer Reviews Big Bank Earnings From This Week
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Dow Surges 557 Points
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Stocks Struggle to Gain Ground After 3 Bank Earnings
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U.S. banks set aside billions for potential loan losses
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Jennifer Lopez and Alex Rodriguez make fresh bid for New York Mets
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Commonly Used Words and Phrases That Have Racist Connotations
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Beyond Meat Drops 10 Percent After Test With McDonald's Ends
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Dow climbs 358 points as Trump stimulus orders offset China tensions· *US stocks climbed on Monday as investors digested President Donald Trump's weekend stimulus orders against China tensions and new coronavirus cases. * · *On Saturday, President Trump signed four..
Airline stocks surge after TSA reports highest traveler numbers since March** · *The Transportation Security Administration on Monday reported that 831,789 travelers passed through its checkpoints on Sunday — the highest number since March 17. * · *In addition,..
Bankruptcy risks pose the greatest threat to the stock market's rally to near-record levels, famed economist Mohamed El-Erian says· *A wave of corporate insolvencies has the best chance at dragging stocks from their lofty prices, Mohamed El-Erian, chief economic advisor at Allianz, said Monday.* · *Investors have looked..
A biotech stock just rocketed 608% after announcing positive phase 3 trial data (MCRB)· *Seres Therapeutics soared as much as 608% on Monday after the company announced positive phase 3 trial data for its drug SER-109.* · *SER-109 was developed for the potential treatment of C...
MGM Resorts soars 25% after IAC buys 12% stake, calling it 'once in a decade opportunity' (IAC)· *MGM Resorts soared as much as 25% on Monday after IAC said it bought a 12% stake in the company for approximately $1 billion.* · *IAC Chairman Barry Diller called investing in MGM right now a..
Robinhood hosted more than 4.3 million trades in June — handily beating its biggest brokerage rivals· *Robinhood trounced legacy brokerages in June, according to one popular gauge of trading activity, as retail investors flooded the market.* · *The brokerage posted 4.31 million daily average..
Sports-betting stocks slump amid growing concerns that college football will be cancelled entirely** · *Sports-betting stocks slumped on Monday amid growing concerns that college football will be cancelled entirely this fall due to the coronavirus pandemic. * · *The MAC on Saturday became..
The market's biggest stocks hold the largest share of the S&P 500 in 40 years as mega-cap tech returns swell· *Investors' rush to tech giants pushed weighting of the S&P 500's 10 biggest stocks to record highs.* · *The companies took up roughly 29% of the index as of July 31, according to The Wall Street..
US companies have smashed profit forecasts by a record 17% this quarter — and BofA says next quarter could also be surprisingly strong· *With 90% of second quarter earnings reported, results were much better than feared.* · *So much better in fact, that second quarter earnings per share beat analyst estimates by 17%, representing..
Warren Buffett may have dumped his entire Wells Fargo stake last quarter, finance professor David Kass says· *Warren Buffett's Berkshire Hathaway may have sold its whole stake in Wells Fargo, David Kass, a finance professor at the University of Maryland, told Business Insider.* · *The billionaire..
Apple will jump 35% on 5G 'super cycle' in raised bull-case scenario, according to Wedbush (AAPL)· *As Apple circles in on a $2 trillion valuation, don't expect the gains to stop anytime soon, according to Wedbush Securities analyst Daniel Ives.* · *In a note published on Sunday, Ives raised..
Nikola soars 22% after securing order for 2,500 electric garbage trucks· *Nikola Motors leaped as much as 22% on Monday after finalizing an order for at least 2,500 electric garbage trucks.* · *The company announced Monday it will develop and produce electric vehicles..
Saudi Aramco sees profit dive 50% for the first half of the year, but keeps its $75 billion dividend payout intact· *Saudi Aramco posted a 50% dive in profits for the first half of the year, as the pandemic destroyed energy demand. * · *Yet the oil major kept its $75 billion dividend intact, most of which..
Trustate, a new startup launched by an ex-DLA Piper attorney, is looking to disrupt a key part of an 'inefficient' $194 billion industry by easing the pain points of estate administration** · *Leah Del Percio left her job as a trust and estates lawyer at DLA Piper to start her own tech-driven platform.* · *Trustate helps families and institutional clients deal with the..
US stocks climb as traders weigh Trump stimulus orders against China tensions, coronavirus cases** · *US stocks climbed on Monday as investors digested President Donald Trump's weekend stimulus orders against China tensions and new coronavirus cases. * · *On Saturday, President Trump signed..
JPMorgan: Pandemic has caused e-trading shift in bondsA report from JPMorgan Chase indicates the coronavirus pandemic has caused a dramatic shift toward electronic execution of tr -More-
Kodak share price crashes in premarket trade more than 40% after US government loan for $765 million gets put on ice· Shares in Eastman Kodak tanked in Monday's premarket trading after the US International Development Corp put its $765 million on hold last week. · On July 28, the company announced it was..
10 things you need to know before the opening bell*Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.* Here's what you need to know before markets open. 1. *Gold could surge over 90% and hit..
Italy's Nutella billionaire is now taking a chunk out of the cookie business to the tune of $3 billion· Italy's richest family that founded confectionery giant Ferrero Group now owns a sizeable cookie business too. · Bloomberg reported Monday that Giovanni Ferrero, who is chairman of the group,..
Goldman Sachs lifts 2021 US GDP forecast to 6.2% and predicts a COVID-19 vaccine will be 'widely distributed' by mid-2021· *Goldman Sachs raised its 2021 US GDP forecast to 6.2% from 5.6%, driven by expectations that at least one COVID-19 vaccine will be "widely distributed" by the end of the second quarter next..
A Y Combinator-backed payments startup that's raised $16 million just launched out of stealth mode. Here's a look at how it's plugging into accounting software like Quickbooks to help companies manage bills.· Routable, backed by Y Combinator and Marqeta CEO Jason Gardner, just launched out of stealth mode with $16 million in funding to digitize business payments. · Bill pay startups are hot, especially..
Gold could surge over 90% and hit $4,000 so long as these two factors remain under control· Gold prices could reach $4,000, the CEO of US Global Investors told CNBC Monday. · Frank Holmes said: "It's quite easy to see gold going to $4,000." · Holmes said rising monetary stimulus is..
Fed's Kashkari warns that unless a stricter US lockdown is imposed, the last six months could feel just like a 'warm-up to a greater catastrophe'· *Minneapolis Federal Reserve President Neel Kashkari warned that the US coronavirus case count can only be controlled under a stricter lockdown, without which the last few months could feel like "a..
JPMorgan report reveals ‘dramatic’ Covid shift to electronic bond tradingProportion of trades made electronically continued to rise even as markets calmed
The 5 biggest takeaways from earnings season, according to a Wall Street chief stock strategist· *With two-thirds of S&P 500 quarterly reports released, a team of RBC Capital Markets analysts scoured data and transcripts to judge what's in store for the stock market.* · *The quarter ended in..
Reopening stocks are set for a 'monstrous rally' next week, and these are the 6 stocks that could benefit, Fundstrat's Tom Lee says· *Stocks that are poised to benefit from the reopening of the US economy are set to experience a "monstrous rally" next week, according to Fundstrat's Tom Lee.* · *In a CNBC interview with Scott..
JPMorgan says buy these 19 'diamond in the rough' stocks that have plunged from yearly highs, but are spring-loaded for huge gains ahead· JPMorgan's global head of small- and mid-cap equity strategy says there are select groups of smaller companies that have healthy businesses and solid balance sheets, but cheap stock prices. ·..
JPMorgan and Goldman Sachs took top spots as M&A advisers in the US, by grabbing 'big-ticket deals' in the first half of 2020, GlobalData says· *US banks JPMorgan and Goldman Sachs were the leading financial advisers on acquisition deals in the first half of 2020, according to the latest survey from GlobalData.* · *The banking titans..
Hedge funds vs. Big Tech — Facebook's mega office deal — Stocks for kidsWelcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week. *If you aren't yet a subscriber to Wall Street..
JPMorgan Rejects Threat to Dollar Status Flagged by GoldmanJPMorgan Chase & Co. strategists said that while the dollar does face further downside, it isn't caught in the kind of structural decline suggested by Goldman Sachs Group Inc. analysts last week.
Inside the Goldman Sachs incubator that allows everyone from analysts to MDs to become paid entrepreneurs on the bank's dime — and a look at the startups the firm is betting on· Goldman Sachs' internal incubator program, GS Accelerate, enables employees of the bank to trade their day jobs to become full-time entrepreneurs. · The program was started in March 2018. So far,..
Nintendo surges after reporting a 428% profit spike driven by gamers flocking to Animal Crossing amid the pandemic (NTDOY)· *Nintendo surged as much as 6% on Thursday after the video game company said first quarter earnings soared 428% while sales more than doubled.* · *Video game companies have seen a surge in..
POWER PLAYERS: These 8 executives are leading some of the most innovative tech projects on Wall Street· Business Insider compiled a list of the people leading the most innovative and ambitious tech projects at Wall Street's biggest firms. · We asked Wall Street players and industry insiders who's..
JPMorgan: Loan-Loss Reserve Buildup Portends Future Earnings Growth
What's fractional share trading? Here's how it works, and who's offering tiny slices of pricey stocks like Amazon and Shopify.A wave of brokerage firms and fintechs have started allowing customers to trade small slices of individual stocks. Many are marketing the offering as a way to democratize investing and allow average..
Why bank stocks could surge 50% in the next 18 months, according to a Wells Fargo analyst (BAC, JPM, C)* * · *Mike Mayo, Wells Fargo senior banking analyst, told CNBC bank stocks could increase by 50% in the next 18 to 24 months.* · *He explained that banks are experiencing the highest..
Uber is set to reveal how badly the coronavirus hurt its business in the 2nd quarter. Here's what to expect from its pivot to food delivery. (UBER)· Uber will report its second-quarter earnings on Thursday afternoon. · The company saw its core ride-hailing business hobbled by the coronavirus pandemic in the spring and going into summer, and..
JPMorgan report notes growth of portfolio tradesJPMorgan Chase has already executed 77% of the portfolio trades in 2020 that it carried out in the whole of 2019, an internal -More-
'A long road ahead': Here's what 4 analysts expect when Uber reports quarterly earnings· *Uber is scheduled to report second-quarter figures on Thursday, revealing whether its surging Eats business can offset a slowdown in rideshare activity.* · *The company is also set to update..
Warren Buffett's Berkshire Hathaway rallies to 5-month high as investors cheer its flurry of recent purchases** · *Warren Buffett's Berkshire Hathaway saw its stock price hit a five-month high on Wednesday.* · *The rally comes after the famed investor's company made a $10 billion acquisition, apparently..
The US needs a new JPMorgan to lead the fight against HuaweiBattle over 5G rests on the modern equivalent of banker-led rescue of financial system in 1907
A JPMorgan-backed personal finance app catering to children has doubled users this year. Now it's eyeing ways to let kids play the stock market.· Greenlight, the personal financial management app for kids and parents, has seen its user base double since the start of the year. · With this growth, Greenlight is building an investing product,..
Tesla competitor Nikola sinks 17% after debut earnings report misses forecasts and analyst call turns contentious· *Nikola shares slid as much as 17% on Wednesday after the company's debut earnings release missed estimates.* · *The electric-truck manufacturer's second-quarter loss totaled $86.6 million, more..