As September kicks off, Wolfe Research is spotlighting some key stocks to watch for the month ahead. Though August closed out with stocks rebounding from the global sell-off earlier that month, the major averages have been off to a rocky start in September. In fact, the month began with all three indexes suffering their worst days since the Aug. 5 rout. As investors brace for more potential turmoil, Wolfe updated its Alpha List, which is an inventory of the firm’s high-conviction stock picks that it thinks are set to break out over the next year. In its September update, Wolfe…
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A Verizon telecommunications truck is parked on a street in Washington, DC June 11, 2019.Eva Hambach | AFP | Getty ImagesVerizon said on Thursday it would buy Frontier Communications in an all-cash deal valued at $20 billion, as the U.S. wireless carrier looks to boost its fiber network.Shares of Frontier Communications fell more than 9% in premarket trading. Verizon climbed about 1%.Verizon has offered $38.50 per Frontier share held, a premium of 37.3% to Frontier’s closing price on Sept. 3, before reports of a potential acquisition emerged.The acquisition, which is expected to close in about 18 months, will help Verizon better…
A ‘Now Hiring’ sign posted on the window of a business looking to hire workers on May 05, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todaySecond-day dropOn Wednesday, the S&P 500 and Nasdaq Composite fell for a second day, but the Dow Jones Industrial Average managed to buck the trend with a slight rise.…
(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chipmaker and an auto giant were among the stocks being talked about by analysts on Thursday. Bank of America reiterated Nvidia as a top pick, noting the recent decline in the stock creates a buying opportunity. Meanwhile, Wolfe Research downgraded General Motors to peer perform. Check out the latest calls and chatter below. All times ET. 5:42 a.m.: Wolfe downgrades General Motors Wolfe Research is moving to the sidelines on General Motors given the automaker’s…
China’s President Xi Jinping (C) and his wife Peng Liyuan pose for a group photograph with leaders from African nations ahead of a dinner reception during the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing on September 4, 2024. Ken Ishii | Afp | Getty ImagesChinese President Xi Jinping said Thursday that China will provide 360 billion yuan (more than $50 billion) in financial support to Africa over the next three years.Xi spoke on the second day of the ninth Forum on China-Africa Cooperation Summit, which is expected to deliver new policies and cooperation agreements…
Federal Reserve Chair Jerome Powell announces interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin Building in Washington, D.C., on June 12, 2024.Kevin Dietsch | Getty ImagesA deeper interest rate cut from the Federal Reserve this month could spook financial markets and send the wrong message about an imminent risk of recession, according to one economist.It comes as policymakers at the U.S. central bank are widely expected to start lowering interest rates when they meet on Sept. 17-18, with investors closely monitoring economic data for clues on just how big a rate cut…
Nurphoto | Nurphoto | Getty ImagesVisa said it plans to launch a dedicated service for bank transfers, skipping credit cards and the traditional direct debit process.Visa, which alongside Mastercard is one of the world’s largest card networks, said Thursday it plans to launch a dedicated service for account-to-account (A2A) payments in Europe next year.Users will be able set up direct debits — transactions that take funds directly from your bank account — on merchants’ e-commerce stores with just a few clicks.Visa said consumers will be able to monitor these payments more easily and raise any issues by clicking a button in…
A view of a ESPN cameraman during the game between the Jacksonville Jaguars and the Cincinnati Bengals on December 4, 2023 at EverBank Stadium in Jacksonville, Fl. David Rosenblum | Icon Sportswire | Getty ImagesIn 2021, the National Football League signed an 11-year, $111 billion media rights deal. In July, the National Basketball Association signed an 11-year, $77 billion deal of its own.What’s next? Well, not much all that soon.While Ultimate Fighting Championship and Formula 1 have deals expiring in 2025, the vast majority of major college and professional sports have recently signed long-term media rights deals with U.S. TV networks…
Close-up and side view of classic Georgian buildings in London, England, UK. Colors Hunter – Chasseur De Couleurs | Moment | Getty ImagesLONDON — London landlords are selling up their buy-to-let properties at record rates as anticipated tax hikes from the U.K. Labour government add further pressure to the once lucrative investment sector.Almost one-third (29%) of homes currently for sale in the capital were previously rented out, data published on Thursday by property portal Rightmove showed.The spike mirrors a wider uptick in rental property sales across the U.K., where 18% of all nationwide listings were previously tenanted, according to Rightmove.Rightmove said it…
India’s Prime Minister Narendra Modi speaks prior to a meeting with Brunei Sultan Hassanal Bolkiah at Istana Nurul Iman in Bandar Seri Begawan on September 4, 2024.Dean Kassim | Afp | Getty ImagesSINGAPORE — India and Singapore on Thursday signed memorandums of understanding for cooperation on a number of key areas including semiconductors, digital technologies, skill development and health care.The announcement comes during Indian Prime Minister Narendra Modi’s two-day visit to the Lion City, which began Wednesday following a trip to Brunei.”Singapore and India have built strong foundations for an enduring partnership. The next phase of the Singapore-India partnership is…
