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Companies returning cash to shareholders can win the favor of current and potential investors.
Global consumer lender Home Credit Group has appointed Citigroup, HSBC Holdings and Morgan Stanley to lead its upcoming Hong Kong initial public offering (IPO) of at least $1 billion, three people with direct knowledge of the matter said. One person said Home Credit plans to file with the Hong Kong stock exchange as early as next month and list in September or October. Home Credit, Citi, HSBC and Morgan Stanley declined to comment.
FT premium subscribers can click here to receive Due Diligence every day by email. Few on Wall Street or in Silicon Valley believe the battle between Morgan Stanley and Goldman Sachs will shake out the same way in one category. The next three banks — Bank of America, Allen & Co and Citigroup — earned less than a third of their bounty, according to data provider Refinitiv.
Brazil's Senate on Wednesday passed legislation allowing foreign-controlled airlines to operate domestic flights, opening up Latin America's largest air travel market after years of debate. The measure passed Brazil's Senate on Wednesday following approval by the lower chamber on Tuesday. Because Congress added a provision barring airlines from charging passengers for their first checked bag, the bill will require the signature of President Jair Bolsonaro before becoming law.
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.
Execution is key for Intel as its 3-year roadmap highlights its process lag, even as data from IDC and IC Insights shows that it is holding its own while it changes direction and focus.
Brown & Brown (BRO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Church & Dwight (CHD) is committed toward boosting gross margin through pricing. Also, it boasts a splendid sales surprise history.
Sterling fell to fresh multi-month lows on Wednesday as Theresa May’s final gamble to force her Brexit deal through parliament met a wall of opposition. The pound fell 0.5 per cent on the day to trade around $1.2650, its lowest level since early January. The currency had briefly rallied on Tuesday as the prime minister offered MPs a “new deal” including the possibility of a second referendum if they back the withdrawal bill at the fourth time of asking.
Morgan Stanley (MS) is cutting jobs at its equities business in London after reporting a decline in equity trading revenues in first-quarter 2019.
Huntington (HBAN) appears to be a promising bet, riding on robust fundamentals and long-term growth opportunities. However, rising expenses remains a concern.
More than 10 years after the 2008 subprime crisis, predatory lending survives in new and surprising sectors. One is the New York taxi industry and the boom and bust of medallions, the permit that allows a driver to own a cab. The price paid for medallions by individual drivers rose by a whopping 455 per cent since 2001, to a peak of more than $1m in 2014.
Morgan Stanley, Goldman Sachs and JPMorgan Chase have a vice-like grip on advising top technology companies. After Uber and Lyft’s weak initial public offerings, rival banks are hoping for some market disruption. “The quality of deal execution is being called into question more, by both corporates and VCs [venture capital firms],” said David Hermer, head of equity capital markets at Credit Suisse, noting that a “small number of banks have a disproportionate share of leadership roles in technology IPO”.
Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be "the next group to feel disruption" and may be headed for large share price falls. Kass, who runs Seabreeze Partners Management, said in a note to clients that he does not believe investors are aware of how commoditized the money management business has become. "As an example, a year ago, a boutique fund manager, Salt Financial, began to pay clients five basis points a year to manage their money!" Kass wrote.
CNBC's Jim Cramer says Morgan Stanley cutting its worst-case forecast on Tesla so drastically from $97 per share appears to be a gimmick.
Delta Air Lines Fell Due to Rating Downgrade by Morgan Stanley(Continued from Prior Part)Bullish stanceDelta Air Lines (DAL) stock could be an intriguing choice for investors, according to Wall Street analysts’ rating. The analysts polled by