Bed Bath & Beyond refreshes board as co-founders step down

Bed Bath & Beyond said it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors to refresh its board. Last month, activist investors Legion Partners Asset Management, Macellum Advisors GP, and Ancora Advisors urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares. The company said the activist group was invited to parti


Bed Bath & Beyond said it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors to refresh its board. Last month, activist investors Legion Partners Asset Management, Macellum Advisors GP, and Ancora Advisors urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares. The company said the activist group was invited to parti
Bed Bath & Beyond refreshes board as co-founders step down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, step, investors, cofounders, bed, changes, independent, directors, advisors, company, bath, board, activist, refreshes


Bed Bath & Beyond refreshes board as co-founders step down

Bed Bath & Beyond said it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors to refresh its board.

Shares of the New Jersey-based company rose about 2% before the bell.

Last month, activist investors Legion Partners Asset Management, Macellum Advisors GP, and Ancora Advisors urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares.

The company said the activist group was invited to participate in the transformation of the board, but it declined.

Following the changes effective May 1, the board will comprise 10 directors, nine of whom are independent and six women, the company said.

Bed Bath & Beyond has struggled to keep pace with changing consumer tastes and shopping habits over the years, with sales growth spiraling down to just 1.1% last year compared with 22% in 2003, when Temares took over as CEO.

“The changes announced today reflect significant shareholder input and underscore our commitment to ensuring we have best-in-class governance,” said Patrick Gaston, who was named an independent chairman.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, step, investors, cofounders, bed, changes, independent, directors, advisors, company, bath, board, activist, refreshes


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Staples stocks are at 52-week highs, but there’s still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves


Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves
Staples stocks are at 52-week highs, but there’s still time to buy, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


Staples stocks are at 52-week highs, but there's still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36

Investors are doubling down on the market’s staples.

The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. The move was fueled by stronger-than-expected quarterly earnings from Kleenex parent Kimberly-Clark, which could set the rest of the group up for a good week of reporting.

Still, Dave Nadig, managing director of ETF.com, is encouraging investors to be careful with this group, which many see as a safe haven in the stock market.

“I think ‘new highs’ is a relative term,” he said Monday on CNBC’s “ETF Edge.” “We’re only up 12, 13% in this space. This is far from the high-flying segment.”

And with industry giants Procter & Gamble and Coca-Cola — which account for more than 25% of the XLP — reporting later this week, that’s “a lot of concentration” to discount at the moment, Nadig said.

Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs.

“I’m still a believer that we’re in a global slowdown environment, [so] I’d rather stick to the U.S.,” he said. “I think it’s a little more understandable, a little more controllable. I would go with equal-weight here because I think that that concentration … could help you. If P&G really blows the doors off, you’ll want that exposure. But I think, long term … the smaller names are doing as well as the bigger names. Why not give yourself a little bit of short-term diversification?”

Alternative plays with exposure to the automotive space could also serve investors well, Nadig said.

But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, investors’ moves this earnings season will ultimately boil down to two factors.

“Investors love earnings and outcomes,” he said in the same “ETF Edge” interview. “So I think you’re seeing a drive into the sector based on performance of the underlying companies and, as you know, ETFs represent performance of underlying stocks. So you’re seeing investors want to have exposure.”

The XLP flattened after reaching its 52-week high in Monday’s trading session, hovering in the $56 range. The Invesco S&P 500 Equal Weight Consumer Staples ETF, its equally weighted counterpart, also hit a 52-week high.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


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Earnings and data could be proof that slowdown fears were overblown

The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings


The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings
Earnings and data could be proof that slowdown fears were overblown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


Earnings and data could be proof that slowdown fears were overblown

Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut.

Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies reporting so far have beaten expectations. Based on forecasts and actual reports, earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years. Some forecasters had projected an earnings decline of 4% or more.

The equivalent of the economy’s first-quarter report card will be released Friday, with the first reading of GDP. The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. CNBC/Moody’s Analytics Rapid Update survey shows economists’ median forecast is now tracking at 2.4%, way above the 1% expected earlier in the quarter, when severe winter weather and the government shutdown were stifling the economy.

At the same time, investors are feeling better about global growth and far less fearful of a recession in the near term. One reason is that China’s data has also been picking up. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists.

“I think a lot of this is leveraged on economic activity. I think investors have kind of gotten past this notion of global downturn. The China number was pretty good earlier in the week. I do think next week is going to be important for earnings. We’re going to get a great cross section of industries,” said Jack Ablin, CIO at Cresset Wealth Advisors. On Wednesday, China’s first quarter GDP

U.S. trade talks with China could be also important in the week ahead, with negotiations continuing and investors awaiting news of a summit between President Donald Trump and China President Xi Jinping.

Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings and the economy, even though data appears to be improving.

“I think it’s a function of expectations were probably dropping too quickly, and I think recent data is telling you that growth isn’t collapsing but it’s slowing,” he said. “I think that’s very important. That’s probably going to be the most important dynamic. That’s probably going to continue.”

That could make for a choppier market at some point, he said. Suzuki said he could see stocks ending the year higher than current levels but he expects to see the market pull back first.

The market shrugged off Thursday’s release of special counsel Robert Mueller’s report on the Trump campaign and Russian election interference.

“This type of thing firmly falls into the category of it can move the needle for the market on a daily or weekly performance basis, but it’s not going to be a longer term story for the market,” Suzuki said. Analysts have said the economy’s performance is more important for Trump’s reelection than the report at this point.

What to Watch

Monday

Earnings: Halliburton, Kimberly-Clark, Whirlpool, Celanese, Allison Transmission, Range Resources, WW Grainger, Zions Bancorp, Cadence Designs

10:00 a.m. Existing home sales

Tuesday

Earnings: Coca-Cola, Lockheed Martin, Procter and Gamble, Verizon, Twitter, NextEra Energy, Northern Trust, Teradyne, Carlisle Cos, United Technologies, Fifth Third, JetBlue, Harley Davidson, PulteGroup, State Street, eBay, Six Flags, Stryker, Snap, Texas Instruments, Canadian Pacific Railway, Kaiser aluminum

9:00 a.m. FHFA home prices

9:45 a.m. Manufacturing PMI 9:45 a.m. Services PMI 10:00 a.m. New home sales

Wednesday

Earnings: AT&T, Caterpillar, Boeing, Facebook, Microsoft, Visa, Tesla, PayPal, General Dynamics, Northrop Grumman, Chipotle Mexican Grill, F5 Networks, Boston Beer, Churchill Downs, Netgear, Sirius XM, Moody’s, T.Rowe Price, Spirit Airlines, Graco, Biogen, Domino’s Pizza, Nasdaq OMX, Anthem, Boston Scientific

Thursday

Earnings: Amazon, 3M, Comcast, Bristol-Myers Squibb, Freeport-McMoRan, Hershey, Alexion Pharma, Altria, Barclays, UBS, Starbucks, Intel, Ford, Discover Financial, Eastman Chemical, Alaska Air, American Electric, Illinois Tool Works, Nintendo, UPS, DR Horton, Capitol One, Valero Energy, Southwest Air, Nokia, Tractor Supply, Brunswick

8:30 a.m. Initial claims

8:30 a.m. Durable goods 10:00 a.m. Housing vacancies

Friday

Earnings: Exxon Mobil, Chevron; Archer Daniels Midland, AstraZeneca, Colgate-Palmolive, Daimler, Cabot Oil and Gas, AutoNation, Autoliv, Bloomin’ Brands, Deutsche Bank, Sanofi, Sony,

8:30 a .m. Real GDP (Q1 advance)

8:30 a.m. Advance economic indicators

10:00 a.m. Consumer sentiment


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


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JP Morgan and Bank of America posted record profits, but investors worry it’s downhill from here

The two biggest U.S. banks each just posted record first-quarter profit, the result of years of work building coast-to-coast franchises that have attracted billions in customer deposits. On Friday, J.P. Morgan Chase said it made $9.2 billion in the first three months of the year. Bank of America said Tuesday that it generated $7.3 billion. Bank of America just posted more quarterly profit than at any time in its history this week, but analyst Matthew O’Connor was worried about what next year loo


The two biggest U.S. banks each just posted record first-quarter profit, the result of years of work building coast-to-coast franchises that have attracted billions in customer deposits. On Friday, J.P. Morgan Chase said it made $9.2 billion in the first three months of the year. Bank of America said Tuesday that it generated $7.3 billion. Bank of America just posted more quarterly profit than at any time in its history this week, but analyst Matthew O’Connor was worried about what next year loo
JP Morgan and Bank of America posted record profits, but investors worry it’s downhill from here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: hugh son, scott mlyn
Keywords: news, cnbc, companies, jp, morgan, banks, sputter, slow, america, week, posted, profit, profits, bank, downhill, worried, record, warned, work, worry, investors


JP Morgan and Bank of America posted record profits, but investors worry it's downhill from here

The two biggest U.S. banks each just posted record first-quarter profit, the result of years of work building coast-to-coast franchises that have attracted billions in customer deposits.

On Friday, J.P. Morgan Chase said it made $9.2 billion in the first three months of the year. Bank of America said Tuesday that it generated $7.3 billion.

But investors’ darkest fear about the industry – that if the Federal Reserve really is done raising rates for the foreseeable future, banks’ main profit-making engine will sputter – is becoming apparent.

Bank of America just posted more quarterly profit than at any time in its history this week, but analyst Matthew O’Connor was worried about what next year looks like. The bank’s CFO warned that growth in net interest income would slow by half to 3 percent this year, below some analysts’ estimates.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: hugh son, scott mlyn
Keywords: news, cnbc, companies, jp, morgan, banks, sputter, slow, america, week, posted, profit, profits, bank, downhill, worried, record, warned, work, worry, investors


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This is the biggest money mistake people make, according to NFL player Brandon Copeland

This year, he is teaching a class at his alma mater, the University of Pennsylvania, an Ivy League school, on financial literacy. “We’ve practiced our multiplication tables. We’ve practiced cursive at some point in time. We’ve never practiced budgeting,” said Copeland, a member of the CNBC Invest in You Financial Wellness Council. Check out 4 Money Lessons Everyone Should Know by Age 25 via Grow with Acorns+CNBC.


This year, he is teaching a class at his alma mater, the University of Pennsylvania, an Ivy League school, on financial literacy. “We’ve practiced our multiplication tables. We’ve practiced cursive at some point in time. We’ve never practiced budgeting,” said Copeland, a member of the CNBC Invest in You Financial Wellness Council. Check out 4 Money Lessons Everyone Should Know by Age 25 via Grow with Acorns+CNBC.
This is the biggest money mistake people make, according to NFL player Brandon Copeland Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: michelle fox, michael reaves, getty images
Keywords: news, cnbc, companies, financial, practiced, copeland, know, invest, according, school, weve, nfl, brandon, mistake, biggest, making, understand, investors, money, player


This is the biggest money mistake people make, according to NFL player Brandon Copeland

He’s now making it his mission to educate people on how to manage their money. This year, he is teaching a class at his alma mater, the University of Pennsylvania, an Ivy League school, on financial literacy.

It’s something he thinks is severely lacking in today’s educational system. According to a 2018 survey by the Council for Economic Education, only 17 states require high school students to take a personal finance class.

“We’ve practiced our multiplication tables. We’ve practiced cursive at some point in time. We’ve never practiced budgeting,” said Copeland, a member of the CNBC Invest in You Financial Wellness Council.

“Yet, when you come out of college you are expected to know it right off the bat,” he added. “A lot of this stuff kids don’t know, don’t understand because no one has ever sat down and talked to them about it.”

More from Invest In You:

Tony Robbins says these are the 3 biggest reasons investors fail

Here are America’s biggest money regrets, as told to CNBC

Former MLB All-Star Mark Teixeira wants you to be smart about your money

Copeland practices what he preaches. He saves about 90 percent of his income.

For others, he suggests aiming to save at least half of their salaries. But even that may not be feasible — which is understandable, he said.

“Some people, they can’t live if they are saving 50% of their money,” he said.

What they should do, however, is take stock of their financial situation. They can start off by calculating all of their expenses — from rent to cellphones to their Netflix account — and see where they can cut back.

They should also understand what they value and why in order to avoid making unnecessary purchases, and find strong mentors, he advises.

— CNBC’s Stefanie Kratter contributed to this report.

Check out 4 Money Lessons Everyone Should Know by Age 25 via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: michelle fox, michael reaves, getty images
Keywords: news, cnbc, companies, financial, practiced, copeland, know, invest, according, school, weve, nfl, brandon, mistake, biggest, making, understand, investors, money, player


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Investors don’t think Mueller report will get in the way of Trump reelection

Read more: The redacted Mueller report is expected Thursday. And the other thing is how does Trump react? But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump. He also said at this point, he does not think investors are convinced Trump will win reelection. Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.


Read more: The redacted Mueller report is expected Thursday. And the other thing is how does Trump react? But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump. He also said at this point, he does not think investors are convinced Trump will win reelection. Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.
Investors don’t think Mueller report will get in the way of Trump reelection Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, kevin lamarque
Keywords: news, cnbc, companies, report, president, trump, think, reelection, economy, impact, does, going, dont, way, investors, mueller


Investors don't think Mueller report will get in the way of Trump reelection

The release of special counsel Robert Mueller’s report is unlikely to change the growing sense in markets that President Donald Trump can win reelection if the economy remains solid, analysts say.

A redacted version of Mueller’s report is expected to be released Thursday morning, and it should add context to the four-page summary released last month by Attorney General William Barr. The attorney general said Mueller did not establish conspiracy or coordination between the Trump campaign and the Russians.

The state of the economy next year will end up mattering more, analysts say. Instead of concerning themselves too much with the details that could emerge from the Mueller report, investors are paying more attention to its potential impact on whether the president can reach a trade agreement with China.

“A lot of this is priced in already, and the market is saying that Trump is going to be the candidate,” said Daniel Clifton, head of policy research at Strategas. “The risks of impeachment are very low even if there’s something in that report. I think the consensus view holds, and does it make it easier to get a China deal through? The answer is yes.”

Still, there are uncertainties about what the report could reveal. Analysts expect there to be much focus on details that can be used to argue either way whether there was any appearance of obstruction of justice by the president. Barr said there was insufficient evidence to charge Trump with obstruction, but he also said “while this report does not conclude that President committed a crime, it also does not exonerate him.”

Mueller’s two-year probe resulted in criminal charges against 35 people and three companies, including the president’s long time personal lawyer, Michael Cohen, his former campaign manager Paul Manafort and the former national security adviser Michael Flynn.

Read more: The redacted Mueller report is expected Thursday. Here’s how we got here, and what’s next

“There are a couple of wild cards. How many embarrassing things will be revealed? And the other thing is how does Trump react? If he gets furious about these allegations, there will be a lot of eyebrows raised,” said Horizon Investment’s chief global strategist, Greg Valliere. “The other wildcard is eventually Mueller is going to have to testify. I think the Mueller testimony will be explosive and refocus attention. … When Trump says he’s totally exonerated, he has not been totally exonerated. That has yet to be addressed.”

But even so, the headlines coming from the Mueller report are not expected to rock the stock market unless they start to seriously weaken Trump.

“I don’t think it’s going to have a lot of impact,” said James Paulsen, chief investment strategist at Leuthold Group. “It’s possible that the way it has impact is not so much whether Trump gets impeached or not, but if it tends to alter the political polls either way, then it would have impact.”

Democrats are expected to seize on any questionable issue, and Paulsen said what matters is if it continues to look like Republicans can hold the Senate and White House. He also said at this point, he does not think investors are convinced Trump will win reelection.

“I think a loss of the Republican side would have Wall Street’s expectations dialed back, and there would be concerns around regulations and different tax policies. I think that would hurt outlooks. To the extent it would move the needle one way or other, it would have impact, but I don’t think it will,” he said. “I still think the bigger thing ultimately will be where the economy goes. If the economy does fade or accelerates again going into the election, that’s huge.”

Valliere also said the economy is what ultimately matters most.

“I think there’s a growing sentiment that the Democratic field is not particularly strong, and I think there’s a growing sentiment if the economy stays in decent shape, yes, he is the favorite,” said Valliere.

Earlier this week, Goldman Sachs economists issued a report saying Trump has a narrow advantage in the 2020 election at this point.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: patti domm, kevin lamarque
Keywords: news, cnbc, companies, report, president, trump, think, reelection, economy, impact, does, going, dont, way, investors, mueller


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Global investors haven’t been this worried about the economy since 2016

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash


But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash
Global investors haven’t been this worried about the economy since 2016 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


Global investors haven't been this worried about the economy since 2016

Global fund managers have positioned their portfolios for slower growth and lower interest rates, but they do not foresee a recession until the second half of next year at the earliest, according to a new survey.

More than half, or 53%, of the fund managers in the monthly Bank of America Merrill Lynch survey believe the Fed is done raising interest rates, and just 13% expect higher global short-term rates, the lowest level since August 2012.

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession.

Betting against European stocks was the most crowded trade in April, for a second month. While investors are negative on Europe, the second-most crowded trade favors buying big-cap growth names in the U.S. and China, through FAANG and BAT.

FAANG stocks are Facebook, Amazon, Apple, Netflix and Alphabet, while BAT represents Baidu, Alibaba and Tencent. The third- and fourth-most crowded trades are long U.S. dollar and then long Treasurys.

There were 187 participants in the survey, which was conducted between April 5-11.

The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Trade wars have edged out China’s growth slowdown as the bigger worry in 10 of the last 11 months. The dominant concerns since 2011 have been euro zone debt, possible breakdown of the euro zone, Chinese growth, populism, quantitative tightening and trade wars.

Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash. But the investing pros are most heavily positioned in utilities, and their allocation to global bank stocks is the lowest since September 2016. They also favor cash and emerging markets vs. stocks and the euro zone.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


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JP Morgan says gains in Asian stocks are ‘already behind us’

Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday. Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. “We’ve been a bit more on the cautious side since … the seco


Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday. Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. “We’ve been a bit more on the cautious side since … the seco
JP Morgan says gains in Asian stocks are ‘already behind us’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee
Keywords: news, cnbc, companies, gains, markets, morgan, region, stocks, asian, jp, investors, index, grow, prices, asia


JP Morgan says gains in Asian stocks are 'already behind us'

Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday.

Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. The index fell by 16.24 percent last year.

“We’ve been a bit more on the cautious side since … the second week of March,” Mixo Das, Asia equity strategist at J.P. Morgan, told CNBC’s “Squawk Box.”

“I think most of the gains for this year in Chinese as well as Asian equity markets are already behind us. From here, it’s going to be more of a difficult slog. We still see gains but it’s going to be a much more volatile process,” he added.

Asked how Asian share prices will likely perform between now till the end of the year, Das responded that they could grow by a low single-digit, or remain largely flat.

He explained that valuations have become stretched compared to projections on where earnings are headed in the coming months. In addition, he said sentiment among investors have become “overextended” and “overheated.”


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee
Keywords: news, cnbc, companies, gains, markets, morgan, region, stocks, asian, jp, investors, index, grow, prices, asia


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Can European banks be saved by a fresh round of deal making?

The comparisons with U.S. peers just got a lot harder for European banks after a strong showing from J.P. Morgan to kick off earnings season, but could there be fresh revenue on the way for European investment banks, even if it is of their own making? European banks have found themselves wedged into the same category as basic resources back in 2015: uninvestable. One banking commentator told CNBC this month that investors should forget about European banks’ NIMs expanding for a few years now. Ju


The comparisons with U.S. peers just got a lot harder for European banks after a strong showing from J.P. Morgan to kick off earnings season, but could there be fresh revenue on the way for European investment banks, even if it is of their own making? European banks have found themselves wedged into the same category as basic resources back in 2015: uninvestable. One banking commentator told CNBC this month that investors should forget about European banks’ NIMs expanding for a few years now. Ju
Can European banks be saved by a fresh round of deal making? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: karen tso, prisma dukas, universal images group, getty images
Keywords: news, cnbc, companies, fresh, european, bank, making, banks, capital, round, nims, deutsche, saved, investors, investment, interest, consolidation, deal


Can European banks be saved by a fresh round of deal making?

The comparisons with U.S. peers just got a lot harder for European banks after a strong showing from J.P. Morgan to kick off earnings season, but could there be fresh revenue on the way for European investment banks, even if it is of their own making?

There’s a mooted capital raising for Deutsche Bank before any possible consolidation with Commerzbank. Meanwhile, Italian lender UniCredit is waiting in the wings let alone any other rival jumping on the bandwagon.

European banks have found themselves wedged into the same category as basic resources back in 2015: uninvestable.

The European Central Bank (ECB) folded and conceded its current hand of cards meant no chance of hiking its benchmark interest rate for the foreseeable future, delivering a dose of realism.

The loser wasn’t the ultra-dovish ECB President Mario Draghi, but bank investors stuck in a much dreaded value trap. Hope vanished for a long-awaited expansion in net interest margins (NIMs) for banks in 2019, which is essentially the profits that these banks make and is usually much better if rates are higher.

One banking commentator told CNBC this month that investors should forget about European banks’ NIMs expanding for a few years now.

To be fair bank bosses are trying everything. UBS resorted to verbal kitchen sinking recently, telling investors it had been saddled with the worst start to the year in many years.

Others are keeping a brave face, Santander is steadfast it can deliver lofty ROTE (return on tangible equity) targets of 13% to 15% in the medium term, up from 11.7% last year — because it has done it before in the face of headwinds.

Then there is all the noise of consolidation driven by the German lenders Deutsche Bank and Commerzbank. Typically, this news flow would mean “game on” for buying on mere consolidation hopes. Just not in European banks where merger and acquisitions have been slim. Any sector action — and that’s being kind using the word action — can be viewed as recovery after freefall last year.

There is a long laundry list of fears around the banks which can be best summarized as a lack of growth. But can deal-making actually save the day? Perhaps. Without growing capital, banks could be forced to sell assets or raise more capital. Activists have called for smaller investment banks at Deutsche Bank, Credit Suisse and Barclays so any extra business even from ill-fated mergers would be welcome.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: karen tso, prisma dukas, universal images group, getty images
Keywords: news, cnbc, companies, fresh, european, bank, making, banks, capital, round, nims, deutsche, saved, investors, investment, interest, consolidation, deal


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The specter of Chinese investment looms over Indonesia’s election

Like recent elections in many emerging countries, the issue of China’s influence on local politics and businesses is under intense scrutiny in Indonesia. And, from the perspective of foreign investors including Beijing, one candidate is clearly less supportive. Jokowi, meanwhile, actively courted Chinese investment during his term to push through large infrastructure projects in the sprawling archipelago that is Indonesia. Several of such China-linked initiatives have sparked criticism from publ


Like recent elections in many emerging countries, the issue of China’s influence on local politics and businesses is under intense scrutiny in Indonesia. And, from the perspective of foreign investors including Beijing, one candidate is clearly less supportive. Jokowi, meanwhile, actively courted Chinese investment during his term to push through large infrastructure projects in the sprawling archipelago that is Indonesia. Several of such China-linked initiatives have sparked criticism from publ
The specter of Chinese investment looms over Indonesia’s election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: huileng tan, wf sihardian, nurphoto, getty images, -made supriatma, visiting fellow at the iseas-yusof ishak institute
Keywords: news, cnbc, companies, local, indonesia, projects, looms, investment, investors, mumford, indonesias, chinese, specter, including, foreign, repeatedly, election


The specter of Chinese investment looms over Indonesia's election

Like recent elections in many emerging countries, the issue of China’s influence on local politics and businesses is under intense scrutiny in Indonesia. And, from the perspective of foreign investors including Beijing, one candidate is clearly less supportive.

“Prabowo is an ultra-nationalist who during the election campaign has repeatedly blamed foreign investors and other countries for the ills facing Indonesia,” said Peter Mumford, Southeast and South Asia practice head at Eurasia Group, a risk consultancy.

Jokowi, meanwhile, actively courted Chinese investment during his term to push through large infrastructure projects in the sprawling archipelago that is Indonesia.

Several of such China-linked initiatives have sparked criticism from public quarters, including a multi-billion high-speed railway between Jakarta and the city of Bandung in Java and local projects like power plants.

“Prabowo has been very critical of Chinese investment in Indonesia, and his supporters have repeatedly whipped up anti-(ethnic) Chinese sentiment,” said Mumford.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: huileng tan, wf sihardian, nurphoto, getty images, -made supriatma, visiting fellow at the iseas-yusof ishak institute
Keywords: news, cnbc, companies, local, indonesia, projects, looms, investment, investors, mumford, indonesias, chinese, specter, including, foreign, repeatedly, election


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