Surging Swiss franc may have become a gold proxy, Goldman Sachs says

The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs. But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday. The franc was trading at around $1.03 by mid-morning on Monday. Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday. “While the driv


The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs.
But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday.
The franc was trading at around $1.03 by mid-morning on Monday.
Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday.
“While the driv
Surging Swiss franc may have become a gold proxy, Goldman Sachs says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith
Keywords: news, cnbc, companies, gold, franc, swiss, tensions, goldman, geopolitical, zach, surging, sachs, proxy, recent, demand, pandl


Surging Swiss franc may have become a gold proxy, Goldman Sachs says

The Swiss franc, which has been in a steep incline against the dollar of late, may be being used as a proxy for gold, according to Goldman Sachs.

Gold has rallied in recent weeks following the spiking of geopolitical tensions in the Middle East, instigated by the U.S. killing of top Iranian military commander Qasem Soleimani, and is widely regarded by investors as a “safe haven” amid turbulent periods.

But where gold has gone, the Swiss franc has followed, Goldman Sachs Co-Head of Global Foreign Exchange Zach Pandl highlighted in a note Sunday. The franc was trading at around $1.03 by mid-morning on Monday.

Gold recently soared to six and a half-year highs, and spot gold prices were hovering just below $1,560 per troy ounce on Monday.

“While the drivers of recent performance are not entirely clear-cut, we believe the surge in geopolitical tensions may have motivated investor demand for CHF, much as it has driven demand for gold,” Pandl said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith
Keywords: news, cnbc, companies, gold, franc, swiss, tensions, goldman, geopolitical, zach, surging, sachs, proxy, recent, demand, pandl


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Climate experts demand world leaders stop ‘walking away from the science’

Demonstrators shut down the corner of Randolph and Clark streets as part of a protest demanding government action on climate change in Chicago on October 7, 2019. DAVOS, SWITZERLAND – Scientists and climate activists from around the world have called on policymakers and business leaders to urgently take action in line with scientific consensus on the climate emergency. Speaking at the launch of the ‘Unite Behind The Science’ campaign at the World Economic Forum (WEF) in Davos, Switzerland, clima


Demonstrators shut down the corner of Randolph and Clark streets as part of a protest demanding government action on climate change in Chicago on October 7, 2019.
DAVOS, SWITZERLAND – Scientists and climate activists from around the world have called on policymakers and business leaders to urgently take action in line with scientific consensus on the climate emergency.
Speaking at the launch of the ‘Unite Behind The Science’ campaign at the World Economic Forum (WEF) in Davos, Switzerland, clima
Climate experts demand world leaders stop ‘walking away from the science’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: sam meredith
Keywords: news, cnbc, companies, world, business, whiteman, climate, stop, away, walking, action, leaders, science, change, demand, experts, unite, switzerland


Climate experts demand world leaders stop 'walking away from the science'

Demonstrators shut down the corner of Randolph and Clark streets as part of a protest demanding government action on climate change in Chicago on October 7, 2019.

DAVOS, SWITZERLAND – Scientists and climate activists from around the world have called on policymakers and business leaders to urgently take action in line with scientific consensus on the climate emergency.

Speaking at the launch of the ‘Unite Behind The Science’ campaign at the World Economic Forum (WEF) in Davos, Switzerland, climate change experts warned Monday that political inaction over climate change would not be acceptable.

“Scientists want to make clear that every single policy, business and investment decision worldwide must follow the path that gives the world a fighting chance of limiting global warming to 1.5ºC and lead to the most livable future possible,” organizers of the Unite Behind The Science campaign said in a statement.

The four-day January get-together of world leaders, CEOs and investors is set to begin Tuesday, with this year’s theme scheduled to focus on the intensifying climate crisis.

“We cannot accept insufficient action anymore,” Professor Gail Whiteman, founder of Arctic Basecamp and director of the Pentland Centre for Sustainability in Business at Lancaster University, said in a statement.

“If we’re united behind the science then every decision, every investment, every behavior should be based on what is taking us in the right direction.”

“If you decide to invest in and continue to produce fossil fuels, you are walking away from science,” Whiteman said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: sam meredith
Keywords: news, cnbc, companies, world, business, whiteman, climate, stop, away, walking, action, leaders, science, change, demand, experts, unite, switzerland


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In the stock market, it’s become Apple, Microsoft and Alphabet vs everyone else

The stock market travels on the currents of supply and demand. But it’s an oversimplification to focus on the absolute number of stocks or the background hum of stock buybacks as key drivers of the market’s historic run. And the total number of issues has been about steady since 2012, and since then the Wilshire 5000 has more than doubled. Share buybacks are now a constant of corporate finance, and at the current pace amount to perhaps 2% to 3% of total stock market value per year. So as a swing


The stock market travels on the currents of supply and demand.
But it’s an oversimplification to focus on the absolute number of stocks or the background hum of stock buybacks as key drivers of the market’s historic run.
And the total number of issues has been about steady since 2012, and since then the Wilshire 5000 has more than doubled.
Share buybacks are now a constant of corporate finance, and at the current pace amount to perhaps 2% to 3% of total stock market value per year.
So as a swing
In the stock market, it’s become Apple, Microsoft and Alphabet vs everyone else Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: michael santoli
Keywords: news, cnbc, companies, stock, microsoft, number, demand, buybacks, market, total, markets, apple, stocks, scarcity, alphabet, public


In the stock market, it's become Apple, Microsoft and Alphabet vs everyone else

The stock market travels on the currents of supply and demand. That’s uncontroversial.

Yet as the indexes have sped to new highs, plenty of observers have argued that a relative shortage of stocks combined with somewhat mechanical sources of demand explain everything from Dow 29,000 to the trio of trillion-dollar market-cap giants that tower above the rest of the market.

The idea of an equity shortage usually hinges on the decline in the total number of U.S. public companies in recent decades, the relative dearth of initial public offerings and the consistent flow of share buybacks meant to reduce companies’ equity base.

These are all features of this bull market, for sure. But it’s an oversimplification to focus on the absolute number of stocks or the background hum of stock buybacks as key drivers of the market’s historic run. There are plenty of stocks to go around and buybacks aren’t wagging the indexes – it’s just that everyone wants the same kind of stocks.

What’s truly scarce are big, reliable cash flows that investors believe will endure economic wobbles and constant technological disruption. And this perceived scarcity of safe sources of profit and income is animating voracious demand for corporate debt and propelling the elite class of dominant secular-growth stocks to ever-richer valuations.

That’s not to deny there are literally fewer stocks on the market’s shelves than there used to be. The comprehensive Dow Jones Wilshire 5000 index now has about 3,500 domestic stocks, down from more than 7,000 in the late 1990s. But most of the stocks that went away were tiny, marginal companies. And the total number of issues has been about steady since 2012, and since then the Wilshire 5000 has more than doubled.

If the reduced number of stocks were an issue, then why would one-sixth of the names in the S&P 500 be languishing at 12-times forecast earnings or less?

And if public investors didn’t have enough names to choose from, why did the market fail to embrace the likes of Uber, Lyft and Pinterest last year?

Share buybacks are now a constant of corporate finance, and at the current pace amount to perhaps 2% to 3% of total stock market value per year. But a good portion of that purchasing is simply soaking up the stealth equity issuance through employee stock compensation. So as a swing factor in a $30 trillion stock market, its potency has diminished from a couple years ago.

The true issue is a scarcity of stability and growth — or a perceived scarcity of them, at least.

We live now in a world where triple-B-rated corporate bonds, the lowest-grade and largest segment of the investment-grade universe, yield 3%. Junk bonds — an asset class with a long-term annualized default rate of 3.5% — now yield 5%.

Clearly, the Federal Reserve’s three rate cuts and promise to stay on hold for a while is part of this backdrop, as are the stirrings of a global economic pickup following an inflation scare. But the massive demand for cash flows by an aging global investor base and return-starved institutions are the proximate actors on these markets.


Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: michael santoli
Keywords: news, cnbc, companies, stock, microsoft, number, demand, buybacks, market, total, markets, apple, stocks, scarcity, alphabet, public


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OPEC secretary general says oil demand has ‘upside potential’

Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the upside over the course of 2020 as trade tensions subside. In December OPEC+, which is the 14-member cartel as well as its allies, agreed to cut production by an additional 500,000 barrels per day for the first quarter of 2020. This lifted total production cuts to 1.7 million barrels per day, above the 1


Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the upside over the course of 2020 as trade tensions subside.
In December OPEC+, which is the 14-member cartel as well as its allies, agreed to cut production by an additional 500,000 barrels per day for the first quarter of 2020.
This lifted total production cuts to 1.7 million barrels per day, above the 1
OPEC secretary general says oil demand has ‘upside potential’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, equation, secretary, potential, day, total, cut, barkindo, upside, production, opec, demand, 2020, general, million, oil, barrels


OPEC secretary general says oil demand has 'upside potential'

Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the upside over the course of 2020 as trade tensions subside. “By and large what we see from our side is an upside potential of growth from the demand side of the equation, which will affect the total balance for the rest of the year,” he said. “We are hoping that some of the challenges that we’re facing in terms of international trade will be addressed.”

Oil finished 2019 with a nearly 35% gain, but prices remain well below their prior highs. Part of this is due to the shale production surge in the United States, which Barkindo said is a “major variable” in OPEC’s decisions. In December OPEC+, which is the 14-member cartel as well as its allies, agreed to cut production by an additional 500,000 barrels per day for the first quarter of 2020. This lifted total production cuts to 1.7 million barrels per day, above the 1.2 million barrels per day cut agreed upon in December 2018. Saudi Arabia, OPEC’s largest producer, also said that it would continue its voluntary cut of 400,000 barrels per day, effectively bringing the alliance’s total cut to 2.1 million barrels per day. “We remain focused on stability for the first and second quarter of 2020. The decision was to ensure that there’s no imbalance in these quarters,” Barkindo said. “But the total equation is looking at both supply and demand sides. We can only address the supply side of the equation. The demand side is something that we watch with very keen interest.”

Mideast tensions


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, equation, secretary, potential, day, total, cut, barkindo, upside, production, opec, demand, 2020, general, million, oil, barrels


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China’s December home price growth hits slowest annual pace in almost 1-1/2 years

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy. It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018. With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market. There has been some signs of improvement in demand and prices across the sector si


China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.
It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.
With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.
There has been some signs of improvement in demand and prices across the sector si
China’s December home price growth hits slowest annual pace in almost 1-1/2 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, property, 112, hits, pace, price, worlds, weakest, sector, prices, growth, demand, cities, chinas, slowest, annual


China's December home price growth hits slowest annual pace in almost 1-1/2 years

Buildings and skyscrapers in Jing’an district on October 18, 2018 in Shanghai, China.

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.

Average new home prices in China’s 70 major cities rose 6.6% in December, slowing from a 7.1% gain in the previous month, Reuters calculation based on National Bureau of Statistics (NBS) data on Thursday.

It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.

Price trends have been mixed lately, as authorities try to reduce frothiness in some cities and relax rules in others in an effort to foster stability in a sector seen as a pillar of the world’s second-biggest economy.

Many analysts are forecasting a further slowdown in the market.

“The market has hit a turning point,” said Zhang Dawei, a Beijing-based analyst with property agency Centaline.

Zhang said the NBS data did not fully reflect the downturn in some markets, including in the Chinese capital Beijing, where inventory is at a multi-year high.

“In a downward cycle, most cities’ government-mandated price caps on new launches have been lifted, and that would mean even as overall demand has cooled, prices would still somehow show stronger growth on paper,” he said.

All the same, home prices still marked the 56th straight month of gains, even as China has clamped down on property speculation since 2016 to stop home prices from overheating.

With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.

There has been some signs of improvement in demand and prices across the sector since late last year as trade tensions with the United States eased.

In the latest sign of warmer ties, the world’s two largest economies signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, although a number of sore spots remained unresolved.

A Reuters poll this week showed China’s economic growth likely hovered at its weakest in nearly 30 years in the fourth quarter as demand at home and abroad remained sluggish.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, property, 112, hits, pace, price, worlds, weakest, sector, prices, growth, demand, cities, chinas, slowest, annual


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Here are Thursday’s biggest analyst calls of the day: Nvidia, Tesla, Amazon & more

Here are the biggest calls on Wall Street on Thursday:Morgan Stanley downgraded the stock and said investors should wait for a better entry point. “In our opinion, four factors have driven TSLA’s share price up ~105% over the last four months: (1) stronger than expected global demand for Tesla vehicles, which has created more optimism around the long-term margin profile of the business; (2) China announcements that show Tesla’s expansion into the world’s largest electric vehicle (EV) market is p


Here are the biggest calls on Wall Street on Thursday:Morgan Stanley downgraded the stock and said investors should wait for a better entry point.
“In our opinion, four factors have driven TSLA’s share price up ~105% over the last four months: (1) stronger than expected global demand for Tesla vehicles, which has created more optimism around the long-term margin profile of the business; (2) China announcements that show Tesla’s expansion into the world’s largest electric vehicle (EV) market is p
Here are Thursday’s biggest analyst calls of the day: Nvidia, Tesla, Amazon & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: michael bloom
Keywords: news, cnbc, companies, wall, wait, tesla, day, demand, worlds, amazon, thursdaymorgan, margin, thursdays, nvidia, analyst, vehicles, vehicle, teslas, calls, biggest, tslas


Here are Thursday's biggest analyst calls of the day: Nvidia, Tesla, Amazon & more

Here are the biggest calls on Wall Street on Thursday:

Morgan Stanley downgraded the stock and said investors should wait for a better entry point.

“In our opinion, four factors have driven TSLA’s share price up ~105% over the last four months: (1) stronger than expected global demand for Tesla vehicles, which has created more optimism around the long-term margin profile of the business; (2) China announcements that show Tesla’s expansion into the world’s largest electric vehicle (EV) market is progressing well from a demand and margin perspective; (3) supportive incentive developments (i.e. the potential, however small, for extended subsidies in the US); and (4) positive sentiment around product expansion.”

Read more about this call here.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: michael bloom
Keywords: news, cnbc, companies, wall, wait, tesla, day, demand, worlds, amazon, thursdaymorgan, margin, thursdays, nvidia, analyst, vehicles, vehicle, teslas, calls, biggest, tslas


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China’s central bank injects $58 billion of loans but keeps rates steady

The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations. Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%. The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday. “While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with


The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations.
Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%.
The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday.
“While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with
China’s central bank injects $58 billion of loans but keeps rates steady Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15
Keywords: news, cnbc, companies, steady, billion, rates, loans, rate, liquidity, mlf, pboc, monthly, demand, unchanged, lunar, market, keeps, injects, chinas, bank, lpr, central


China's central bank injects $58 billion of loans but keeps rates steady

China’s central bank extended fresh short- and medium-term loans on Wednesday but kept the borrowing cost unchanged, as it seeks to maintain adequate liquidity in a slowing economy and ease a potential crunch ahead of the Lunar New Year.

The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations. It injected 300 billion yuan ($43.51 billion) via the liquidity tool.

Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%.

There is no maturing MLF loan or reverse repo on Wednesday.

In a statement, the central bank said the injection was meant to “offset impact from factors including tax payment and cash demand” and ensure that banking system liquidity was “reasonably ample” before the week-long Lunar New Year holidays kick off next Friday.

Rising cash demand from companies and households for the Lunar New Year holiday, a flood of special bond issuance by local governments and corporate quarterly tax payments have all combined to drain funds from the banking system. Some analysts expect the liquidity gap could amount to as much as 2.8 trillion yuan.

The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday.

“While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with or without an MLF rate cut,” said Frances Cheung, head of macro strategy for Asia at Westpac in Singapore.

“We continue to see each monthly LPR reset as presenting an opportunity for a baby-step 5 basis point cut. We expect more open market operations injections in the next few days. Market reaction should be muted as liquidity injections have been expected to cover demand.”

The LPR is a lending reference rate set monthly by 18 banks. The PBOC revamped the mechanism to price LPR last August. Since then, the one-year LPR has been lowered by a total of 10 basis points in an attempt to lower corporate borrowing costs and support an economy partly hurt by the U.S.-China trade war.

China is expected to post its slowest economic growth in 30 years in 2020 as domestic and global demand remain sluggish, a Reuters poll showed this week, reinforcing views that Beijing will roll out more support measures.

The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the best indicator of general liquidity in China, was 2.6918% as of 0223 GMT, up 0.5 basis points from the previous day’s closing average rate.


Company: cnbc, Activity: cnbc, Date: 2020-01-15
Keywords: news, cnbc, companies, steady, billion, rates, loans, rate, liquidity, mlf, pboc, monthly, demand, unchanged, lunar, market, keeps, injects, chinas, bank, lpr, central


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Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years

It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances. Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinancing led the surge, thanks to a drop in mortgage rates. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week. Purchase mortgage activity hit the highest level since October 2009.


It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances.
Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Refinancing led the surge, thanks to a drop in mortgage rates.
The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week.
Purchase mortgage activity hit the highest level since October 2009.
Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, volume, rate, homebuyer, week, rates, soar, mortgage, loans, activity, applications, weekly, demand, strong, supply, highest, hits, level


Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years

It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances.

Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Refinancing led the surge, thanks to a drop in mortgage rates. Those applications jumped 43% for the week and were 109% higher than a year ago. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) decreased to the lowest level since September, 3.87%, from 3.91%, with points decreasing to 0.32 from 0.34 (including the origination fee) for loans with a 20% down payment. The rate was 87 basis points higher the same week one year ago.

“Refinances increased for both conventional and government loans, as lower rates provided a larger incentive for borrowers to act,” said Joel Kan, an MBA economist. “It remains to be seen if this strong refinancing pace is sustainable, but even with the robust activity the last two weeks, the level is still below what occurred last fall.”

Homebuyers also rushed in, sending purchase application volume up 16% for the week and up 8% from one year ago. Purchase mortgage activity hit the highest level since October 2009. Demand is so strong that real estate agents offered open houses on new properties the first weekend of the new year. Usually, they wait until February.

“Homebuyers were active the first week of the year. Low rates and the solid job market continue to encourage prospective buyers to enter the market,” Kan said.

Unfortunately, buyer demand is bumping up against near record-low supply. Price gains have reaccelerated, and if supply doesn’t improve markedly, some of the tightest markets will overheat quickly, leaving less affluent buyers out in the cold.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, volume, rate, homebuyer, week, rates, soar, mortgage, loans, activity, applications, weekly, demand, strong, supply, highest, hits, level


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Here are Wednesday’s biggest analyst calls of the day: Apple, Beyond Meat, Delta, Disney & more

Here are the biggest calls on Wall Street on Wednesday:”As the risk/reward has become less attractive following the recent rally, we are downgrading Beyond Meat from Outperform to Market-Perform while keeping our target price at $106. In particular, we believe that Beyond Meat’s near-term sales growth potential in the U.S. is largely priced in at this point.” Canaccord raised its price target on the stock and said it was encouraged by the strong demand for the iPhone 11 line-up. “We believe Appl


Here are the biggest calls on Wall Street on Wednesday:”As the risk/reward has become less attractive following the recent rally, we are downgrading Beyond Meat from Outperform to Market-Perform while keeping our target price at $106.
In particular, we believe that Beyond Meat’s near-term sales growth potential in the U.S. is largely priced in at this point.”
Canaccord raised its price target on the stock and said it was encouraged by the strong demand for the iPhone 11 line-up.
“We believe Appl
Here are Wednesday’s biggest analyst calls of the day: Apple, Beyond Meat, Delta, Disney & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: michael bloom
Keywords: news, cnbc, companies, demand, iphone, calls, strong, services, meat, revenue, delta, price, apple, wednesdays, day, disney, analyst, believe, encouraged, biggest, target, growth


Here are Wednesday's biggest analyst calls of the day: Apple, Beyond Meat, Delta, Disney & more

Here are the biggest calls on Wall Street on Wednesday:

“As the risk/reward has become less attractive following the recent rally, we are downgrading Beyond Meat from Outperform to Market-Perform while keeping our target price at $106. In particular, we believe that Beyond Meat’s near-term sales growth potential in the U.S. is largely priced in at this point.”

Canaccord raised its price target on the stock and said it was encouraged by the strong demand for the iPhone 11 line-up.

“We believe Apple’s ecosystem approach, including an installed base that exceeds 1.4B devices globally, is leading to record services revenue, and we expect the highermargin services revenue growth to continue outpacing total company growth. We are also encouraged by the strong demand for the iPhone 11 lineup and believe Apple will maintain its market share leadership of premium-tier smartphones that could be bolstered by a 5G upgrade cycle.”

Read more about this call here.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: michael bloom
Keywords: news, cnbc, companies, demand, iphone, calls, strong, services, meat, revenue, delta, price, apple, wednesdays, day, disney, analyst, believe, encouraged, biggest, target, growth


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Delta’s fourth-quarter profit beats estimates thanks to cheaper fuel and strong travel demand

Delta Air Lines’ fourth quarter profits topped Wall Street’s expectations, as lower fuel prices and strong travel — particularly for high-priced premium tickets — demanded lifted the Atlanta-based carrier’s results. Delta reported net income of $1.1 billion, up 8% from the fourth quarter of 2018. Here’s how Delta did in the fourth quarter of 2019 compared with what Wall Street expected:Adjusted earnings per share: $1.70 versus $1.40 expected. Revenue: $11.44 billion versus $11.35 billion expecte


Delta Air Lines’ fourth quarter profits topped Wall Street’s expectations, as lower fuel prices and strong travel — particularly for high-priced premium tickets — demanded lifted the Atlanta-based carrier’s results.
Delta reported net income of $1.1 billion, up 8% from the fourth quarter of 2018.
Here’s how Delta did in the fourth quarter of 2019 compared with what Wall Street expected:Adjusted earnings per share: $1.70 versus $1.40 expected.
Revenue: $11.44 billion versus $11.35 billion expecte
Delta’s fourth-quarter profit beats estimates thanks to cheaper fuel and strong travel demand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, fuel, versus, share, thanks, reported, strong, delta, fourthquarter, billion, deltas, profit, demand, earnings, stake, estimates, cheaper, fourth, travel, wall, quarter


Delta's fourth-quarter profit beats estimates thanks to cheaper fuel and strong travel demand

Delta Air Lines’ fourth quarter profits topped Wall Street’s expectations, as lower fuel prices and strong travel — particularly for high-priced premium tickets — demanded lifted the Atlanta-based carrier’s results.

Before the market opened on Tuesday, Delta reported per-share adjusted earnings of $1.70, compared with analysts’ expectations of $1.40 a share and a more than 30% increase from a year earlier.

Delta doesn’t have the beleaguered Boeing 737 Max in its fleet, the plane that has been grounded since March after two fatal crashes in Indonesia and Ethiopia killed 346 people. Competitors American, Southwest and United do have the Max in their fleets and have had to scale back growth planes without the fuel-efficient jets cleared by regulators to return to service.

Delta shares were up close to 2% in premarket trading after it reported results.

Delta reported net income of $1.1 billion, up 8% from the fourth quarter of 2018. Revenues in the three months ended Dec. 31 rose 6% from a year earlier to $11.44 billion, slightly above analysts’ estimates.

Delta benefited from cheaper fuel and the unwinding of its minority stake in Brazilian carrier Gol, the result of Delta’s new stake in Gol’s larger South American competitor Latam.

Here’s how Delta did in the fourth quarter of 2019 compared with what Wall Street expected:

Adjusted earnings per share: $1.70 versus $1.40 expected.

Revenue: $11.44 billion versus $11.35 billion expected.

Delta said it expects unit revenues to be flat to up 2% in the first quarter of 2020, and flat margins. The airline reiterated its 2020 guidance of earnings per share of $6.75 to $7.75.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: leslie josephs
Keywords: news, cnbc, companies, fuel, versus, share, thanks, reported, strong, delta, fourthquarter, billion, deltas, profit, demand, earnings, stake, estimates, cheaper, fourth, travel, wall, quarter


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