Just days after paying down $1.1 billion in debt, embattled biotech Valeant is taking out $2.5 billion more in senior secured notes. The company’s shares were trading at heavy volume just after opening bell Thursday.
Category: Stanley
Snap drops 12% to close below Thursday’s open price
Snap has fallen below Thursday’s opening price, losing 12 per cent on Monday as analysts issued ‘sell’ ratings on the owner of messaging app Snapchat. Shares in Snap , which went public three days ago, closed at $23.77 , below its $24 opening price on the New York Stock Exchange.
Fed’s Fischer Declines to Comment on Rate Hike
Federal Reserve Vice Chair Stanley Fischer declined to comment directly on monetary policy during a speech at the U.S. Monetary Policy Forum in Chicago. Fischer argued against binding the central bank to strict rules to control monetary policy.
Analysts’ Actions — Dr. Pepper, Expedia, GoPro, Nutanix and More
Here are Friday’s top research calls, including upgrades for Dr. Pepper Snapple and Expedia, a downgrade for Nutanix and new coverage of GoPro. Broadcom was upgraded to buy at TheStreet Ratings.
DISH Network Corporation (DISH) Receives Equal Weight Rating from Barclays PLC
Barclays PLC currently has a $62.00 price target on the stock, up from their prior price target of $59.00. DISH has been the topic of a number of other research reports.
Deutsche Bank Loses Ground in Trading as JPMorgan Thrives
Deutsche Bank’s negotiations with U.S. prosecutors last year over alleged mortgage misdeeds rattled investors, leading many of the German lender’s trading partners to defect — apparently to American rivals. Deutsche Bank , the German lender hit last year by a $7.2 billion settlement with U.S. authorities over alleged mortgage misdeeds, is losing ground to American rivals in the highly profitable arena of bond and currency trading, a new report shows.
Apple Price Target Raised at Morgan Stanley
Shares of Apple were climbing on Tuesday after Morgan Stanley hiked its price target on the tech titan’s stock to $154 from $150. The firm echoed increased sales optimism in China and that the country could represent “outsized growth” in fiscal 2018.
Trump, Yellen Nor Putin Can Spook U.S. Investors
It seems as if U.S. stock investors are afraid of absolutely nothing. Not even a Russian submarine floating off the coast of Connecticut, nor a pugnacious president who lambasted and mocked the media during a chaotic press conference or a Fed Chair that talked candidly about a slow-growing U.S. economy.
Rpt: Morgan Stanley Exploring Move to Manhattan’s West Side
Morgan Stanley is exploring a move to Hudson Yards, the vast development site on Manhattan’s West Side, The Wall Street Journal reported, citing people familiar with the matter. The bank is considering purchasing the remaining 2 million square feet at 50 Hudson Yards, the planned tower where money manager BlackRock is also expected to move its headquarters, the Journal said.
Why Self-Driving Cars Will Be Baidus Next Big Opportunity
Morgan Stanley analysts recently said that Baidu won’t be delivering much upside this year as its growth will be restricted by tight advertising laws in China. Also, as the likes of Tencent Holdings raise their content game by investing in online video, Baidu will find it difficult to boost revenue.
Why Seaspan Corporation Stock Is Down Nearly 13%
In contrast, the analyst initiated coverage of Seaspan but with a much less bullish view. According to Morgan Stanley, Seaspan is likely to experience declining earnings over the course of this year as “weak global trade and prolonged oversupply of containerships” put the hurt on its income statement.
Ben Cross
Ben cross is a contributor to RealMoney Pro as a commodity specialist and is also a senior advisor to Panidion mine finance fund. Prior to this Cross spent over 20 years in the Morgan Stanley commodity group as a managing director and global head of metals sales and trading and head of commodity hedge fund sales.
Why This Analyst Raised General Motors’ Price Target
There hasn’t been a long list of analysts posting bullish notes on major automakers over the past year, due to the inevitable peaking of the U.S. new-vehicle cycle after the industry set sales records each of the past seven years. That’s why yesterday’s upgrade from Morgan Stanley analyst Adam Jonas, a highly respected analyst and longtime Tesla Motors bull, was a pleasant surprise for investors.
Blackstone, Carlyle Said to Plan Luxembourg Bases Post Brexit
U.S. private equity funds Blackstone Group LP and Carlyle Group LP are pushing ahead with plans to establish so-called passporting rights in Luxembourg to retain the ability to do business in the European Union after the U.K.’s exit, according to people familiar with the matter. The move is seen as administrative, less about moving people and offices and more to preserve access to European investors after Brexit, the people said, asking not to be identified because the plans are private.
Analysts’ Actions — CSX, Dish, Qualcomm, Verizon and More
Here are Monday’s top research calls, including upgrades for CSX and Dish Network, and downgrades for Qualcomm and Verizon. was upgraded to overweight at Barclays.
BERNSTEIN: ‘We are one tweet away from … well, almost…
When most President-elects take office, Wall Street analysts pay close attention to what proposed legislation could mean for companies, industries and the economy. The global quantitative strategy team at Bernstein plans to pay close attention not only to the President’s policies, but also to his tweets, especially when it comes to individual companies and industries.
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A street sign is seen in front of the New York Stock Exchange October 16, 2007. U.S. stocks fell on Tuesday after disappointing earnings and outlooks from financial services companies suggested problems from the credit squeeze will be prolonged.
Morgan Stanley Is a ‘Very Good Situation’: More Squawk From Jim Cramer
Shares of Morgan Stanley were declining in early morning trading on Tuesday despite reporting a top and bottom line fourth quarter beat before the market open. Furthermore, the NYC-based bank posted its biggest gain in fixed-income trading, as revenue from that unit nearly tripled.
TRUMP: The strong dollar is ‘killing us’
The index’s drop follows two comments from President-elect Donald Trump in an interview with The Wall Street Journal . Trump said the border-adjustment plan, a proposal that would tax imports and exempt exports, was “too complicated.”
Travelers Seems Overvalued Compared to Its Main Rivals
Within a matter of days, not only have three top Wall Street firms downgraded the $33 billion insurance giant, but it’s the market’s sixth most shorted stock . It was only in December that Citigroup named the stock a buy.
Morgan Stanley, UBS Said to Plan Boosting China JV Stakes
Morgan Stanley and UBS Group AG are in talks with local partners to boost holdings in their China securities businesses, a sign of growing confidence in those operations, according to people familiar with the matter. The banks are engaged in separate discussions on raising their stakes to 49 percent, the maximum allowed under current regulations, the people said, asking not to be identified because the negotiations are confidential.
World’s Worst Commodity Radioactive for Investor Portfolios
No major commodity had a worse 2016 than uranium. In fact, the element used to make nuclear fuel has had a pretty dismal decade.
World’s Worst Commodity Was Radioactive for Investor Portfolios
No major commodity had a worse 2016 than uranium. In fact, the element used to make nuclear fuel has had a pretty dismal decade.
Analysts’ Actions — Medtronic, Nokia, Paccar, Verizon and More
AmerisourceBergen was upgraded to buy at TheStreet Ratings. You can view the full analysis from the report here: ABC .
Wells Fargo Settles With Brokers Over Claims of Racial Bias
Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues.
Wall Street’s Trump Bonanza Won’t Avert Job Cuts at Banks in ’17
Bank stocks are on a tear after Donald Trump’s victory drove up expectations for the industry’s profits. Here’s the catch for many people working there: Holding onto their jobs won’t be any easier.
A Sudden Burst of Activity on Mortgage Litigation
In the span of just 12 hours, three U.S. enforcement matters left over from the financial crisis made significant progress: Deutsche Bank AG and Credit Suisse Group AG separately announced that they would pay a combined $12.5 billion to resolve U.S. investigations into their sales of toxic mortgage debt, whereas Barclays Plc chose to roll the dice and let the Justice Department file a fraud lawsuit over its debt sales. Before these latest two deals, the U.S. investigations had already yielded more than $46 billion from six U.S. financial institutions.