Investors can count on the Dow Jones Industrial Average changing its members next month, for the first time in nearly four years, for several reasons. The question is, who’s out and who’s in? How and when the keepers of the Dow DJIA choose the stocks they add and those they…
Tag: Goldman Sachs Group Inc
UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession
U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. Evelyn Hockstein | Reuters UBS expects the U.S. Federal Reserve to cut interest…
The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
The whirlwind weekend in late April that saw the country’s biggest bank take over its most troubled regional lender marked the end of one wave of problems — and the start of another. After emerging with the winning bid for First Republic, a lender to rich coastal families that had…
Morgan Stanley CEO says the bank’s push for more stable revenue streams has worked. It’s a key reason we own the stock
Morgan Stanley ‘s (MS) multiyear transformation plan has been a success, CEO James Gorman said with pride Thursday — and, as shareholders, we see no reason to disagree. “We’ve steadily de-risked parts of the business that got us in trouble during the [Great Financial Crisis], and we obviously made a…
The fintech reckoning is upon us. Here’s what to expect next year
Partygoers with unicorn masks at the Hometown Hangover Cure party in Austin, Texas. Harriet Taylor | CNBC Bill Harris, former PayPal CEO and veteran entrepreneur, strode onto a Las Vegas stage in late October to declare that his latest startup would help solve Americans’ broken relationship with their finances. “People…
JPMorgan, Citi, Morgan Stanley and Wells Fargo kick off bank earnings season in choppy waters
JP Morgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Morgan Stanley kick off the third-quarter bank earnings reporting season on Friday, Oct. 14 amid some of the most challenging economic times in at least a decade. Despite a plethora of woes facing the big banks from inflation…
Stocks making the biggest moves midday: Bed Bath & Beyond, Carnival, Upstart and more
A security guard stands next to a Bed Bath & Beyond sign at the entrance to a New York City store location. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Bed Bath & Beyond — Shares of the retailer plummeted 23.6% after the company missed revenue…