(This is CNBC Pro’s live coverage of Monday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A tech giant and a consumer goods name were among the companies being talked about by analysts on Monday. Citi reiterated Dell Technologies as a buy, noting the stock could see strong gains after its upcoming inclusion into the S & P 500 index. Meanwhile, Morgan Stanley downgraded Church & Dwight to equal weight from overweight. Check out the latest calls and chatter below. All times ET. 5:58 a.m.: JPMorgan says it’s neutral on GE HealthCare…
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RT: Midea appliances with name in backgroundKim Kyung-Hoon | ReutersChinese home appliance maker Midea Group on Monday launched a share offering of about HK$26.97 billion ($3.46 billion) in Hong Kong, according to its filings, in the city’s largest listing in more than three years.The company, listed in Shenzhen, has allotted around 492.1 million shares for the Hong Kong offering, the filing showed, with the stock to be priced between HK$52 and HK$54.80 per share.The listing, which Reuters reported last week, would be the biggest in Hong Kong since JD Logistics raised $3.16 billion in May 2021. The deal eclipses Hong Kong’s most recent biggest deal, Chinese lithium battery maker CALB, which raised $1.3 billion in October 2022.Midea’s Shenzhen-listed shares closed on Friday at 63.02 yuan (HK$69.32) each, which…
Italian Prime Minister Mario Draghi during the press conference at the Multifunctional Hall of the Prime Minister on July 12, 2022 in Rome, Italy.Massimo Di Vita | Mondadori Portfolio | Getty ImagesEconomic growth in the European Union continues to lag behind that of China and the United States, threatening the bloc’s goals of bolstering its geopolitical relevance, social equality and decarbonization, according to a report from economist and politician Mario Draghi.The keenly awaited report led by Draghi — who previously served as prime minister of Italy and president of the European Central Bank during the euro zone debt crisis —…
Shares of boutique investment bank China Renaissance fell as much as 72% to a record low on Monday when they resumed trading 17 months after being suspended during a probe involving its then-chairman and CEO Bao Fan.Greg Baker | AFP | Getty ImagesShares of boutique investment bank China Renaissance fell as much as 72% to a record low on Monday when they resumed trading 17 months after being suspended during a probe involving its then-chairman and CEO Bao Fan.Trading was suspended on April 3, 2023, due to a delay in publishing its 2022 results after mainland Chinese authorities requested Bao’s cooperation in an investigation.The star dealmaker, who founded China Renaissance in 2005, has…
BTS during an interview with host Jimmy Fallon on September 25, 2018.NBC | NBCUniversal | Getty ImagesSouth Korean pop stars are smashing records, performing at premier music festivals in the West and topping charts — but that stratospheric success is not mirrored in the stock performance of their management agencies.South Korea’s “Big Four” K-pop agencies are all publicly listed. Hybe Corporation is the largest and listed on the blue-chip Kospi, while SM Entertainment, JYP Entertainment and YG Entertainment are on the small-cap Kosdaq. So far this year, Hybe shares have plunged 29%, SM lost 36%, while YG plummeted 37%. The…
Timothy Armoo, co-founder and former CEO of Fanbytes.Tim Armoo.Timothy Armoo, a co-founder and former CEO of influencer marketing firm Fanbytes, is not what you might expect from a multi-millionaire.He doesn’t own any mansions — or property at all — saying he prefers to spend some of his money on eclectic investments, ranging from exotic fruit businesses in Africa to funding the sale of a lithium mine.Armoo made his money selling Fanbytes to digital marketing agency Brainlabs in May 2022 for an eight-figure sum (the exact amount has not been made public).But the young entrepreneur told CNBC Make It that he…
Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City. Michael M. Santiago | 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 todayMixed jobs reportThe U.S. economy added 142,000 nonfarm jobs in August. That’s fewer than the 161,000 expected by Dow Jones, but better than July’s revised 89,000. Unemployment in August ticked down to…
Each Sunday, three of The Athletic’s NFL writers react to the biggest news, plays and performances from the day’s games.The first Sunday of the NFL season brought a dominant Dallas performance (led by the defense and a well-paid QB), one major upset, an awfully shaky day for the draft’s top pick, and some familiar results for the Giants (despite Brian Daboll calling the plays), Panthers (despite a new coach), and Falcons (despite a new quarterback and coach). Jerod Mayo gets his first win as @Patriots head coach 👏 pic.twitter.com/xXpEQ18ehQ — NFL (@NFL) September 8, 2024It’s only one game, but what…
China’s property market has still not found a bottom despite all the turmoil in the past year, according to Standard Chartered CEO Bill Winters.Speaking to CNBC’s JP Ong, Winters described the investing environment in China as “difficult,” explaining that consumer confidence and international investor confidence was relatively low.”We know that the underlying source of a lot of the confidence questions is the property market, and the property market has not yet completely bottomed out, so it’s been a slow grind down,” he added.Winters pointed out, “there are some signs from time to time that we’re seeing an increase in activity,…
The Bank of Japan is largely expected to hold interest rates steady at the end of its 2-day meeting ending June 14, 2024. Seen here, the Japanese flag flying high at the BOJ headquarters in Tokyo.Kazuhiro Nogi | Afp | Getty ImagesThe unwinding of the yen carry trade is expected to continue in September, presenting a risk of another large sell-off, according to Kathy Lien, managing director of forex strategy at BK Asset Management. Speaking to CNBC’s “Squawk Box Asia” on Monday, Lien predicted that downward trends in U.S. yields and the dollar would continue to drive the Japanese yen higher.”We…
