Wells Fargo "too big to differentiate itself," cut to Sell at Berenberg
Berenberg is not one of the better known sell-side firms but it attracted attention today when it downgraded Wells Fargo (NYSE:WFC) to Sell from Hold with a $35 price target, cut from $45, saying the bank has lost the magic it once had generating higher returns than peers, and so will revert to long-term industry averages. WFC has become "too big to differentiate itself from wider market trends and deliver the growth which management promises and the market expects," the firm's James Chappell w..>> view originalFight Over New York Subways Is as Much Political as It Is Financial
But the crisis has occurred on their watch. As Mr. Cuomo has taken a more prominent role in dealing with the problem — and has been assailed in recent polls over his handling of the subway — he has become increasingly annoyed with what he perceives as Mr. de Blasio’s unwillingness to tackle it.His aides note that previous mayors have taken a more active role in the city’s subway system. Most notably, former Mayor Michael R. Bloomberg used city money to expand the No. 7 line to the Far West Side..>> view originalWhy Royal Caribbean Tops Carnival, Norwegian
JPMorgan We are upgrading Royal Caribbean Cruises to Overweight from Neutral and bumping our year-end 2017 price target to $130 from $111, offering about 20% plus annualized upside potential. We see 2018 as another year of mid-to-high teens earnings-per-share growth driven by about 3% capacity growth, about 3% net yield growth, and about 1% new cruise costs growth. Our upgrade is based on the following three points: 1) our...>> view originalDemocrats in US Congress Urge Review of Amazon's Whole Foods Deal
WASHINGTON (Reuters) - A group of Democrats in Congress urged the U.S. Department of Justice and Federal Trade Commission in a letter this week to conduct a more in-depth review of online retailer Amazon.com Inc's plan to buy grocer Whole Foods Market Inc. The lawmakers asked that the review include consideration of what effect the $13.7 billion deal could have on access to healthy foods in so-called food deserts where residents may have limited access to fresh groceries. "While we do n..>> view originalJapan Pictures Likely Show Melted Fukushima Fuel for First Time
New images show what is likely to be melted nuclear fuel hanging from inside one of Japan’s wrecked Fukushima reactors, a potential milestone in the cleanup of one of the worst atomic disasters in history.Tokyo Electric Power Co. Holdings Inc., Japan’s biggest utility, released images on Friday showing a hardened black, grey and orange substance that dripped from the bottom of the No. 3 reactor pressure vessel at Fukushima, which is likely to contain melted fuel, according to Takahiro Kimoto, a..>> view originalAs Immelt Bows Out, GE Shows the Stench of Oil Is Hard to Escape
In his final days atop General Electric Co., Jeffrey Immelt still can’t throw off oil’s stink.Photographer: Peter Foley/BloombergIn his farewell earnings report, the chief executive officer ended his 16-year tenure by telling Wall Street that GE’s earnings are likely to be disappointing the rest of this year. The culprit: sputtering energy markets.It was the latest setback for a CEO who never could win over investors and came under pressure this year from activist shareholder Trian Fund Managem..>> view originalMusk says government likes plan for high-speed tunnels
Posted: Jul. 20, 2017 8:00 am Updated: Jul. 20, 2017 5:43 pm DETROIT (AP) — Billionaire entrepreneur Elon Musk says he has "verbal government approval" to build a tunnel for high-speed transportation from New York to Washington that could break ground by the end of this year. Musk didn't say who gave him the approval, and he acknowledged that the deal is far from finalized. But the White House confirmed it had "positive discussions" about the tunnel with Musk and executives from his underground..>> view originalLyft will launch self-driving car rides by the end of this year
A Nutonomy self-driving car has already been publicly tested in Singapore. (Nutonomy) Silicon Valley's steady march toward self-driving cars took another step forward Friday as the ride-hailing company Lyft said its customers will be able to summon a driverless vehicle on some roads by the end of the year. The autonomy program, which is expected to launch in Boston before eventually spreading to other cities, could ultimately involve hundreds of thousands of vehicles, said company officials...>> view originalBuyers, sellers and cops on the hunt for AlphaBay's successor
Users on the dark web will need to find a new marketplace after AlphaBay was shut down. James Martin/CNET A government shutdown of dark web marketplaces AlphaBay and Hansa has merchants and consumers looking for a new home. Authorities shuttered AlphaBay, the largest online marketplace for illegal goods, on July 4, and took down Hansa, the third largest, on Thursday. The sites, where people coul..>> view originalMicrosoft is challenging Amazon for cloud throne
Move over Amazon.com Inc., Microsoft Corp. is coming for your throne in the sky. Microsoft MSFT, -0.58% ..>> view original
Sunday, August 27, 2017
Wells Fargo "too big to differentiate itself," cut to Sell at Berenberg and other top stories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment