Credit card super-users take a $330 million bite out of JP Morgan’s revenue
Savvy credit-card users have forced J.P. Morgan Chase to pony up more in rewards payments than the bank originally projected. Buried in an otherwise positive second-quarter earnings report Friday, in which the bank announced a record $8.32 billion profit, was...
In ETFs, the bigger the stock, the more money goes into it and that could be costing regular investors
Huge sums of investor cash have poured into exchange-traded funds during this past year (and during the whole bull market) with billions of dollars sitting passively in funds betting on the very largest U.S. stocks. But new research suggests this...
Wall Street’s top economist Hyman calls Trump’s trade tactics classic ‘Art of the Deal’
Evercore ISI Chairman Ed Hyman said he believes President Donald Trump’s tough trade stance is largely bluster and doesn’t pose a major threat to the global economy. “My view is that neither China nor the United States nor NAFTA want...
Jefferies raises Facebook price target, sees revenue topping expectations
Facebook’s market leading position in the advertising market is unmatched, according to Jefferies. The firm raised its price target to $240 from $215 for Facebook shares, predicting its second-quarter sales results will be above expectations. Jefferies also reiterated its buy...
Consumer sentiment hits six-month low on ‘darkening cloud’ of tariffs
Consumer sentiment dropped below expectations at the beginning of July to a six-month low on rising fears regarding the Trump Administration’s trade battles. Consumer sentiment fell to 97.1, according to the University of Michigan’s monthly survey of consumers. Economists expected...
Your first trade for Friday, July 13
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Twitter Karen Finerman was a buyer of JPMorgan Brian Kelly was a buyer of the S&P Regional Banking ETF Guy Adami was...
Morgan Stanley raises its price target on red hot WWE stock by nearly 70% to Street-high
World Wrestling Entertainment shares triple-digit return so far this year has much more to go, according to Morgan Stanley. The firm raised its price target for the media company to $100 from $58, representing 34 percent upside to Thursday’s close....
Goldman Sachs says cybersecurity stocks could get a boost from fears of meddling in the midterm elections
Cybersecurity stocks present a compelling short-term bet for investors ahead of the 2018 midterm elections, Goldman Sachs advised clients Thursday. Pointing to an expected uptick in security spending in the run-up to November, analyst Arjun Menon told clients that the...
US import prices unexpectedly drop in June
U.S. import prices unexpectedly fell in June after rising sharply a month earlier. Import price fell 0.4 percent in the month. Import prices were forecast to rise 0.1 percent in June, after climbing 0.6 percent a month earlier. Get the...
PNC shares gain after higher commercial lending leads to better-than-expected earnings report
Shares of PNC Financial Services ended trading Friday up 0.2 percent after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC...
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