Text size The Fed’s annual stress tests were introduced following the 2008-09 financial crisis. Dreamstime Morgan Stanley , Goldman Sachs , Wells Fargo and Bank of America said they would raise ...
Tag: financial services
Jefferies Just Posted Results. Investment Banks Should be Worried.
Text size Total underwriting revenue at Jefferies was down by 62% as banks face tougher conditions. Amir Hamja/Bloomberg Wall Street just got a taste of what to expect when investment banks post secon...
JetBlue Raises Offer to Buy Spirit Airlines—Again
JetBlue Airways Corp. isn’t backing down in its fight to buy Spirit Airlines Inc. raising its offer yet again in an effort to outmaneuver rival Frontier Airlines. JetBlue on Monday proposed a $400 mil...
Goldman Sachs and Wells Fargo Boost Shareholder Payouts
The largest U.S. banks said they would increase payouts to shareholders after the Federal Reserve said the banks are able to keep lending in a severe hypothetical recession. Four of the six biggest ba...
Vanguard Sues UHNW Advisor Over Alleged Client Solicitation
The Vanguard Group is suing one of its former ultrahigh-net-worth financial advisors for allegedly violating a one-year nonsolicitation agreement he signed while an employee. The financial services gi...
Citigroup cuts S&P 500 target to reflect blend of recession, ‘soft landing’ scenarios
Citigroup analysts have cut their S&P 500 target for this year by 500 points to 4,200, after stubbornly high inflation spurred the Federal Reserve to aggressively raise interest rates. “Fed hawkis...
Gensler labels bitcoin a ‘commodity’ as crypto prices stabilize
Securities and Exchange Commission Chairman Gary Gensler said Monday that bitcoin BTCUSD, -0.24% was the only cryptocurrency he was prepared to publicly label a commodity, rather than a security, in a...
Apollo’s Stock Is Expected to Rise. Here’s Why.
Apollo Global Management is the most misunderstood of the publicly traded alternative asset managers. But the stock could represent significant upside for those who wish to take a look, according to R...
How retirees should navigate this bear market
Here’s how best to play the market for the rest of 2022: Don’t look. I offer this advice not because I believe the bear market will continue—though of course it could. I would offer the same advice if...
Bed Bath & Beyond is reducing store hours and turning down the air conditioning to cut costs, analysts say
Bed Bath & Beyond Inc. is turning down the air conditioning at its stores in order to save cash, according to Bank of America analysts who conducted channel checks and store visits. Other measures...
The stock market’s return will be minus 3.3% a year over the next decade, says this ‘single greatest predictor’
This month we’ve received both good and bad news from the “single greatest predictor of future stock market returns.” I’m referring to the indicator, first proposed by the Philosophical Economics blog...
Zendesk Close to Striking Buyout Deal, Sources Say
Zendesk Inc. is close to a deal with a group of buyout firms, according to people familiar with the matter, resurrecting a failed attempt to sell itself in what would be one of the biggest private-equ...
Ken Griffin Moving Citadel From Chicago to Miami Following Crime Complaints
Billionaire Ken Griffin is relocating his hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months....
Opinion: Jerome Powell is the worst Federal Reserve policy maker in my lifetime
In the history of the Federal Reserve, the most revered chairmen are William McChesney Martin, Paul Volcker and Alan Greenspan. All gained their reputation by decisive monetary policy action at times ...
These dividend stocks yield at least 5% and have plenty of room to raise payouts
This year’s stock price declines make for an increasing number of stocks with high dividend yields of at least 5%. Below is a screen that highlights 29 that appear to be able to raise their payouts co...
Polestar shares expected to debut Friday on Nasdaq after SPAC deal approved
Shares of electric vehicle company Polestar are expected to debut on the Nasdaq on June 24, after shareholders of special purpose acquisition company Gores Guggenheim Inc. GGPI, +11.87% approved the p...
Stock market nosedive, recession and your 401(k). Here’s what to do.
Even some of the most aggressive retirement savers and investors might find themselves a bit nervous these days with talks of a recession and a market downturn, so the best strategy for those in it fo...
Crypto platform Voyager Digital shares plunge 60% after revealing $665 million exposure to embattled hedge fund; considers issuing default notice
Crypto platform Voyager Digital Ltd. VOYG, -52.50% shares plunged more than 60% Wednesday after the company said its subsidiary Voyager Digital LLC, may issue a notice of default to embattled crypto ...
This dividend fund is down 3% vs. S&P’s 20% drop. Here are its top stock picks
By now even the most ardent tech and growth-stock enthusiasts realize the bull market is over. John Kornitzer’s approach to selecting high-quality stocks for the Buffalo Flexible Income Fund is one th...
Powell says U.S. economy can handle the additional rate hikes that are coming
Federal Reserve Chairman Jerome Powell on Wednesday pushed back against economists who argue that aggressive Fed interest-rate hikes have increased the odds of a recession or hard landing for the U.S....
I’m the COO of a mortgage company that’s funded more than $100 billion in loans. Here are the 3 things you need to know about the housing market now
Steve Reich Mortgage rates climbed above 6% last week, according to Bankrate data, with some pros saying they may go higher. (You can see the lowest mortgage rates you may qualify for here.) On top of...
S&P 500 must fall another 15%-20% to price in recession, says Mike Wilson at Morgan Stanley
The price is not right. That’s the verdict from strategists at Morgan Stanley and Goldman Sachs, who each warned as a new week kicked off that the stock market wasn’t fully pricing in a recession. And...
Nearly one-third of older Americans have less than $10,000 saved for retirement
Many older Americans are willing to work during their retirement years — and they may have to be — because they aren’t financially prepared for their old age. Almost three in 10 people between 55 and...
Meet the ‘unluckiest’ stock market investor of modern times
If you’re thinking of pulling your 401(k) out of the stock market, or you’re too terrified to invest more, you need to meet my friend Betty Badluck. Poor old Betty has had the worst luck of any stock ...
Analysts see lowest grades for Bank of America and JPMorgan in Fed’s stress test
Bank of America Corp. and JPMorgan Chase & Co. emerged with the lowest marks among the overall passing grade for banks in the Fed’s annual stress test, analysts at Jefferies and Citigroup said Fri...