The senior housing industry is approaching its “golden age” and Bookdale Senior Living should benefit, according to Jefferies. Analyst Brian Tanquilut initiated coverage of Brookdale Senior Living with a buy rating, saying that the sector should benefit from better occupancy as baby boomers “age into the sweet spot.” “The combination of positive demographic trends, improved operations, and financial engineering … should all translate to improved earnings performance that’s not yet baked into the stock,” he wrote. Along with the upgrade, Tanquilut established an $8 price target, reflecting 32% upside from Tuesday’s close. The stock is up more than 4% this…
Author: usaeverydaylife
A logo sits on display outside the Airbus wing assembly factory in Broughton, U.K.Paul Thomas | Bloomberg | Getty ImagesAirbus announced plans on Wednesday to cut up to 2,500 jobs in its Defence and Space division, citing a “complex business environment” especially in loss-making satellites.The European aerospace group said it aims to carry out the cuts, which represent 7% of the workforce in its second-largest division, by the middle of 2026 after talks with unions.Airbus builds satellites and transporters and has key shares in European missile, fighter, and space-launch programs.It has been hit by 1.5 billion euros ($1.63 billion) of…
A sign is posted in front of a home for sale on August 07, 2024 in San Rafael, California.Justin Sullivan | Getty ImagesMortgage interest rates rose last week for the third straight week, hitting the highest level since August. That caused demand from both current homeowners and potential homebuyers to take a big step back. Total mortgage application volume fell 17% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.52% from 6.36%, with points rising…
Ted Pick, CEO Morgan Stanley, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.Adam Galici | CNBCMorgan Stanley is set to report third-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects:Earnings: $1.58 a share, according to LSEGRevenue: $14.41 billion, according to LSEGWealth management: $6.88 billion, according to StreetAccountTrading: Equities of $2.77 billion, Fixed Income of $1.85 billion, according to StreetAccountInvestment Banking: $1.36 billion, according to StreetAccountMorgan Stanley has several tailwinds in its favor.The bank’s massive wealth management business will be helped by high stock market values in the…
Both retail and professional investors have become more bullish in recent weeks. Allocations to stocks are rising; allocations to bonds are declining. You can’t blame them for getting excited. There’s good reason for exuberance: The soft landing remains the dominant investing paradigm; The Fed is cutting rates going into a soft landing (very unusual); Corporate America has become the largest buyer of U.S. stocks; Stocks are entering the seasonally strongest period of the year; and Hopes for political gridlock and/or a Trump win are boosting some sectors. Soft landing remains dominant paradigm The October Bank of America Global Fund Manager Survey, a…
It’s been a stellar month for the U.S. stock market, driven largely by easing monetary policy. Since the Club’s last Monthly Meeting, investors have celebrated the Federal Reserve’s pivot to its rate-cutting era. The U.S. central bank announced its first interest rate reduction in more than four years on Sept. 18, sending stock benchmarks to all-time highs. Most recently, the S & P 500 and Dow Jones Industrial Average both closed at record levels Monday. The S & P and Dow are up 4.5% and 4%, respectively, since the Sept. 12 monthly gathering. We’ve taken advantage of the market highs.…
Don’t overlook the artificial intelligence potential of Cisco Systems , Citi said. Analyst Atif Malik upgraded shares of the networking company to buy from neutral, citing a shrinking valuation gap relative to peers and a growing AI ethernet total addressable market poised to hit $10 billion by 2025. “While AI is currently a small piece of the biz (~2% of revs), we see the potential for a stronger contribution,” he wrote. “With more AI coming, we are incrementally more constructive on the group and expect continued investor rotation out of semis/hardware into networking equipment to benefit group valuation.” Shares added…
Style-photography | Istock | Getty ImagesGenerative artificial intelligence startups are getting 40% of all the venture capital funding that flows into cloud companies, according to venture investors Accel.In its latest annual Euroscape report, which looks at key cloud and AI trends, Accel said that venture funding for cloud startups based in the U.S., Europe and Israel is projected to rise to $79.2 billion this year, with artificial intelligence fueling much of the recovery.Venture funding into the cloud industry climbed 27% annually — marking the first year of growth in three years. Cloud startups raised $62.5 billion in Europe, Israel and the U.S.…
Growing political pressure aside, Thailand’s weak economy adds to the case for the central bank to cut interest rates sooner rather than later, according to money managers.Bloomberg | Bloomberg | Getty ImagesThailand’s central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government as needed to revive a sluggish economy with inflation below target.The Bank of Thailand’s monetary policy committee voted 5 to 2 to reduce the one-day repurchase rate by 25 basis points to 2.25%, after the rate had been a decade-high of 2.50% since September 2023.Only four of…
Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected.Nurphoto | Nurphoto | Getty ImagesVideo gamers who sued over Microsoft’s $69 billion purchase of “Call of Duty” maker Activision Blizzard have settled their lawsuit claiming the blockbuster deal would harm industry competition and drive up prices.The gamers said in a joint filing, opens new tab with Microsoft in San Francisco federal court late on Monday that they were dismissing their lawsuit with prejudice, meaning they cannot refile it. The court filing did not reveal how the lawsuit…
