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[ad_1] A customer enters Comerica Inc. Bank headquarters in Dallas, Texas. Cooper Neill | Bloomberg | Getty Images A trio of regional banks faces increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to KBW analysts. Banks with between $80 billion and $120 billion in assets are in a tough spot, says Christopher McGratty of KBW. That's because this group has the lowest structural returns among banks with at least $10 billion in assets, putting them in the position of needing to grow larger to help pay for coming regulations — or struggling for years. Of eight banks in that zone, Comerica , Zions and First Horizon might ultimately be acquired by more profitable competitors, McGratty said in a Nov. 19 research note. Zions and First Horizon declined comment. Comerica didn't immediately have a response to this article. While two others in the cohort, Western Alliance and Webster Financial , have "

[ad_1] Another disappointing quarter for Tesla served as just another speed bump for shareholders. Shares plummeted more than 12% Thursday as the Elon Musk's electric carmaker warned about slowing growth. I want to deploy an options strategy to use this emotional overreaction as an opportunity to add to my Tesla position. The slowdown, of course, was not a news flash as we have seen Lithium futures tumble 80% in the last year. However, when coupled with the second consecutive quarter that Tesla missed earning expectations, nearly $100 billion in market cap rapidly evaporated. TSLA 5Y mountain Tesla, 5 years Tesla did not help themselves in the short-term, on the conference call by removing volume guidance for 2024 since it will be notably lower. Another concerning issue is Elon is asking for a 25% voting control. He currently owns 13% but, Musk holds nearly 300 million unexercised stock options representing another 9% of Tesla's 3.2 billion shares outstanding. Thus, invest

[ad_1] David Solomon (centre), Chief Executive Officer of Goldman Sachs during an event attended by Prime Minister Rishi Sunak at the Business Roundtable during his visit to Washington DC in the US on June 8, 2023 in Washington, DC. Niall Carson | WPA Pool | Getty Images Goldman Sachs said Monday that it agreed to sell its personal financial management unit to a competitor named Creative Planning. The transaction is expected to close in the fourth quarter of this year and "result in a gain" for New York-based Goldman. The bank declined to disclose the sale price for its PFM business. Goldman acquired a team of about 220 financial advisors managing $25 billion in assets in May 2019, when it announced the $750 million acquisition of United Capital Financial Partners. At the time, CEO David Solomon heralded the deal as a way to broaden Goldman's reach beyond the ultra-rich clientele that is its main strength to those who are merely wealthy, with perhaps a few millio

[ad_1] CNBC's Jim Cramer called out General Electric as a winner in the industrial sector for the strides it's making in nuclear power. GE's Verona Nuclear Fuel business said Wednesday it received approval from the U.S. Nuclear Regulatory Commission to manufacture, ship, and analyze the performance of higher enrichment fuel. These "regulatory milestones" will help the company "innovate to help our customers run their plants even more efficiently and be ready to support the next generation of reactor technology," according to the press release . GE shares were trading about 2% higher on the news. GE YTD mountain GE stock performance year to date. "[General Electric] just keeps going higher," Cramer said Wednesday. While that's mainly due to demand for its aircraft engines, Cramer added that investors "love any way to be able to make nuclear fuel work." In November 2021, GE announced plans to split and form three publicly trade

[ad_1] There's Eli Lilly (LLY), and then there's everybody else. That's a simple way to describe the performance of the Club's health-care holdings so far this year, in what's been a challenging period for the industry overall. Of the 11 market sectors year to date, health care is the fourth worth-worst performer, falling 4%, followed by consumer staples (down 4.2%), real estate (down 5.8%) and utilities (down 10%). Our standout is unquestionably Eli Lilly, which has soared 50% in 2023 on the promise of its experimental weight-loss and Alzheimer's drugs, making it the most-valuable health-care company in the world. Lilly's run really started in last year's terrible market, soaring more than 30% compared to the S & P 500's nearly 19.5% plunge in 2022. That's a nearly two-year return of almost 100%. LLY XLV YTD mountain Eli Lilly's year-to-date stock performance compared with the XLV, a major ETF that tracks the health-care sector. Lil

[ad_1] Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Stock futures were little changed Tuesday after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Futures tied to the Dow Jones Industrial Average rose 35 points, or 0.1%. Meanwhile, S&P 500 futures traded around the flatline, and Nasdaq-100 futures dipped 0.1%. Lyft shares gained 4% in the premarket after the ridesharing company announced a new CEO and that its cofounders would step away from their day-to-day roles. PVH Corp. shares popped 12% on strong quarterly results. The moves follow a mixed session on Monday. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. The Nasdaq Composite dipped 0.47% as tech stocks moved lower. A slew of positive news reports helped lift sentiment on Wall Street, including First

[ad_1] An undated editorial photo of Chinese yuan cash bills and the flag of the People's Republic of China. Javier Ghersi | Moment | Getty Images China's consumer prices were flat in September, while factory gate prices saw annual declines slow for a third month — pointing to the uneven post-Covid recovery in the world's second-largest economy that may require further policy support. Consumer price index for September was flat on an annual basis, the National Bureau of Statistics reported Friday , below than the median estimate for a 0.2% increase in a Reuters poll. CPI inched up 0.1% in August for the first year-on-year increase in three months. Core inflation — excluding energy and food prices — however, climbed 0.8% in September from a year earlier, the bureau said in a separate statement . This rate of increase was similar to the one recorded in August. China's producer price index fell 2.5% from a year earlier , weaker than expectations for a 2.4% decline, af

[ad_1] The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. These big-name investors also made moves in nine other Club stocks during a strong three-month stretch that ended the best first half for the market in years. Starting with Salesforce, Dan Loeb's Third Point shed its stake in the second quarter. Jeff Smith's Starboard Value — the first known activist to target the enterprise software giant — cut its stake by 21% in the three months ended June 30. Those sales are among the Club-related trades revealed this week by the latest batch of securities filings known as 13Fs. Submitted to U.S. regulators on a quarterly basis, these disclosures offer a look — albeit with some limitations — into the investment decisions that closely followed Wall Street pros have made. CRM .SPX YTD mountain Salesforce's year-to-date stock performance, in compariso

[ad_1] A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China. VCG | Getty Images Procter & Gamble on Tuesday reported mixed quarterly earnings and revenue for its fiscal second quarter of 2024. The company also narrowed its outlook for full-year adjusted earnings per share to a range of $6.37 to $6.43, although its forecast for unadjusted earnings fell due to its plans to write down Gillette and restructure certain markets. Shares of the company rose about 1% in premarket trading. Here's what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.84 adjusted vs. $1.70 expected Revenue: $21.44 billion vs. $21.48 billion expected P&G reported fiscal second-quarter net income attributable to the company of $3.47 billion, or $1.40 p

[ad_1] The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy. Prices accelerated 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. However, the annual rate was slightly below the 3.3% forecast though higher than June. Excluding volatile food and energy prices so-called core CPI also increased 0.2% for the month, equating to a 12-month rate of 4.7%. The annual rate for core also was slightly below a Dow Jones consensus estimate for 4.8%. Markets reacted positively to the report, with futures tied to the Dow Jones Industrial Average up nearly 200 points and Treasury yields mostly lower. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. The BLS said more than 90% of the increase came from that category, which accounts for about one-third of the CPI weighting. Food prices incre

[ad_1] Traders work on the floor of the New York Stock Exchange during morning trading on April 10, 2023 in New York City.  Michael M. Santiago | Getty Images U.S. stock futures were little changed on Monday evening, as all eyes on Wall Street turn to a Tuesday meeting between congressional leaders and President Joe Biden. Futures tied to the S&P 500 slipped 0.04%, while Nasdaq 100 futures inched lower by 0.05%. Dow Jones futures lost 15 points, or 0.04%. Investors are anxiously awaiting progress on a deal to raise the debt ceiling before June 1, which is the earliest date the Treasury Department has said the U.S. could default on its debt obligations. Treasury Secretary Janet Yellen said last week that a lack of a deal could spur an "economic catastrophe." On Monday , Yellen reaffirmed that the U.S. faced the possibility of default as early June 1, the so-called "X date," if a deal isn't reached between the White House and Congress. "Waiting u

[ad_1] Fanatics founder and CEO Michael Rubin at his office in New York. The Washington Post | Getty Images Fanatics held its second investor day in nearly a year as the company quietly moves closer to an initial public offering, a source familiar with the matter tells CNBC. More than 100 existing and prospective institutional investors from major firms such as Goldman Sachs and Barclays gathered Tuesday for the meeting at the NBA Players Association headquarters in New York to hear from Fanatics founder and CEO Michael Rubin, the source said. Another 300 people attended the meeting virtually on Zoom. Leaders from all parts of the business gave presentations and took part in a Q&A session with the audience. A spokesman for Fanatics said the company's timeline for an IPO hasn't changed. Investors were also treated to a surprise visit by football great Tom Brady, an investor in the company. Brady spoke to investors about business and leadership and mingled with the aud

[ad_1] Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. Don't sell Meta Look past Eli Lilly's tough quarter Chance to buy Estee Lauder 1. Don't sell Meta Shares of Meta Platforms (META) soared more than 25% Thursday morning, to $192.50 apiece, after the tech giant reported a fourth-quarter earnings beat Wednesday evening and announced a $40 billion stock buyback plan. The quarter was exactly what we had been waiting for, as the company demonstrated it's serious about controlling costs. CEO Mark Zuckerberg on Wednesday called 2023 "the year of efficiency," while lowering Meta's 2023 expenses outlook by $5 billion. We're holding onto our shares of Meta and expect the stock to move even higher, if Zuckerberg follows through on his promise to rein in spending. 2. Look past Eli Lilly's tough quarter Eli Lilly (LLY) stock was down

[ad_1] The Paramount logo is displayed at Columbia Square along Sunset Blvd in Hollywood, California on March 9, 2023. Patrick T. Fallon | AFP | Getty Images Paramount Global shares jumped more than 5% on Friday after an investor known as Warren Buffett's favorite banker piled into the media company's controlling shareholder. National Amusements, Paramount's majority voting shareholder, announced Thursday afternoon that it has entered into an agreement for a $125 million preferred equity investment by BDT Capital Partners. Stock Chart Icon Stock chart icon Paramount Some Buffett watchers noticed a curious connection with the news. BDT Capital's chairman and co-CEO is Byron Trott, who has long been known as Buffett's preferred and trusted banker. It was Trott who suggested that Buffett put a $5 billion lifeline in Goldman Sachs during the 2008 financial crisis. The connection didn't end there. Buffett's Berkshire Hathaway is actually Paramount's b

[ad_1] A worker prepares a 155mm artillery shell at the Scranton Army Ammunition Plant in Scranton, Pennsylvania, U.S., February 16, 2023. Brendan McDermid | Reuters Companies added jobs at a brisk pace in February as the U.S. labor market kept humming, payroll services firm ADP reported Wednesday. Private payrolls increased by 242,000 for the month, ahead of the Dow Jones estimate for 205,000 and well above the upwardly revised 119,000 jobs gain, from 106,000, in January . Wage growth decelerated slightly, with those remaining in their jobs seeing a 7.2% annual increase, down 0.1 percentage point from a month ago. Job changers saw growth of 14.3%, compared to 14.9% in January. The report comes with Federal Reserve officials watching jobs data closely for clues on where inflation is headed. Remarks Tuesday from Fed Chairman Jerome Powell, who called the jobs market "extremely tight," triggered a sell-off on Wall Street amid expectations that the central bank could accele