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Synchrony Financial Reports Higher Q2 Net Interest Income And Shareholder Returns, Drives Positive Outlook
Synchrony Financial (NYSE:SYF) reported second-quarter fiscal 2024 net interest income of $4.405 billion, beating the consensus of $4.287 billion. Net interest income increased 7% YoY, driven by higher interest and fees on loans, partially offset by an increase in interest expense from higher benchmark rates and higher interest-bearing liabilities. Net revenue rose 12.7% to $3.712 billion. Net interest margin declined 48 basis points to 14.46%. Loan receivables rose 8% to $102.3 billion, and purchase volume declined 1% to $46.8 billion. Interest and fees on loans increased 10% year over year to $5.3 billion, led by increased average loan receivables. Synchrony’s average active accounts rose 2%, and...
Top 3 Industrials Stocks That Could Sink Your Portfolio This Month
As of July 17, 2024, three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of...
These Analysts Cut Their Forecasts On Charles Schwab After Q2 Results
The Charles Schwab Corporation (NYSE:SCHW) posted better-than-expected reported second-quarter results on Tuesday. Adjusted net income declined 2% Y/Y to $1.465 billion. Adjusted EPS fell 3% Y/Y to 73 cents, beating the consensus of 72 cents, according to data from Benzinga Pro. Revenue rose 1% to $4.69 billion, beating the consensus of $4.68 billion. Asset management and administration fees rose 18% Y/Y to $1.38 billion. The company's new brokerage accounts increased 4% Y/Y to 35.6 million. Walt Bettinger, Co-Chairman and CEO, said, "Client interest in our broad array of wealth solutions remained strong through June. Year-to-date enrollments are up ~30% versus the prior year...
Deckers Outdoor, Goldman Sachs, Fiverr International And An Energy Stock: CNBC's 'Final Trades'
On CNBC's “Halftime Report Final Trades,” Rob Sechan of NewEdge Wealth picked Deckers Outdoor Corporation (NYSE:DECK). He said we bought the stock in mid-May, which surged up to $1,100, but now has fallen to $900. “I think you have another chance to buy it,” he added. Deckers Brands scheduled a conference call to review first quarter fiscal 2025 results for Thursday, July 25. The Goleta, California-based company plans to post quarterly earnings of $3.42 per share, up from $2.41 per share in the year-ago period. Analysts expect the company to post revenue of $804.65 million for the quarter. Jason Snipe of Odyssey...
Dogecoin's 14% 'Post-Halving' Rally Continues: Here's When The Real Breakout Is Coming
Dogecoin's (CRYPTO: DOGE) continued rally, backed by improving key metrics, prompted traders to predict a full breakout in the upcoming weeks. What Happened: Crypto trader Rickus analyzed Dogecoin's chart, noting that the trend angle is steeper than in earlier cycles. He believes Dogecoin will break out five to six weeks form now and retest its resistance afterwards, as it has done in previous cycles. Another crypto trader expects an upcoming “post-halving” rally: Also Read: Dogecoin Could Reach A New All-Time High ‘By The End Of August’...If This Historical Pattern Holds Why It Matters: IntoTheBlock data shows large transaction volume increasing by 37.5%...
Match Group's BLK Teams Up With GIPHY To Launch 'BLKmojis' On World Emoji Day
On Wednesday, in celebration of World Emoji Day, BLK, the world's largest dating and lifestyle app for the Black community, is teaming up with GIPHY to launch ‘BLKmojis'—a vibrant collection of emojis and GIFs celebrating Black culture and its influence on social media. Match Group’s BLK Launches Culturally Representative Emojis Owned by Match Group Inc (NASDAQ:MTCH), the powerhouse behind Tinder, Hinge, and OkCupid, BLK is on a mission to fill the digital space with more diverse and culturally representative emojis. “Representation in digital and social spaces is essential,” said Jonathan Kirkland, Head of Brand and Marketing for BLK. “With BLKmojis, we’re excited...
UnitedHealth Analysts Boost Their Forecasts Following Upbeat Earnings
UnitedHealth Group (NYSE:UNH) reported better-than-expected second-quarter earnings on Tuesday. The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro. UnitedHealth’s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare. UnitedHealth expects a 2024 net profit of $15.95-$16.40 per share to reflect the classification to held for sale of its remaining South America operations, and the estimated Change Healthcare cyberattack impacts versus the prior estimate of $17.60-$18.20. UnitedHealth shares gained 6.5% to...
Direxion Launches Two New Crypto ETFs: One For Bulls, One For Bears
Direxion, a prominent provider of tradeable and thematic ETFs, has announced the launch of two innovative funds: the Direxion Daily Crypto Industry Bull 2X Shares (NYSE:LMBO) and the Direxion Daily Crypto Industry Bear 1X Shares (NYSE:REKT). These funds offer traders opportunities to capitalize on the crypto industry’s rapid growth or hedge against potential downturns. Leveraged Exposure To Crypto Industry LMBO and REKT are designed to provide exposure to 200% and -100% of the daily performance of the Solactive Distributed Ledger & Decentralized Payment Tech Index, respectively. This index tracks the performance of U.S.-listed companies engaged in blockchain technology, non-fungible tokens, decentralized finance,...
Inflation Won't Be Repaired By November Says Kevin O'Leary — 'It'll Be A Major Election Issue'
Canadian business owner and investor Kevin O’Leary, also known as Mr. Wonderful from his time on Shark Tank, recently shared his thoughts on a major issue: inflation. According to him, inflation is going to stick around for a while and will be a major topic in the upcoming elections. O’Leary pointed out that both Trump and Biden claim credit for a strong economy. For Trump, things were great before COVID-19, and Biden says he’s done a good job recovering since then. Don't Miss: The average American couple has saved this much money for retirement — How do you compare? Can you guess how many...
These Analysts Slash Their Forecasts On Five Below
Five Below Inc (NASDAQ:FIVE) announced a CEO transition and provided updated guidance for the second quarter on Tuesday. Five Below announced that Joel Anderson stepped down from his roles as president and CEO to pursue other interests. Anderson will also step down from the company's board. COO Kenneth Bull has been named interim president and CEO, effective immediately. Five Below co-founder, non-executive chairman and former CEO Thomas Vellios will assume the role of executive chairman on an interim basis to support the executive leadership team while the board looks for a permanent CEO. Five Below also announced that total sales for the 10...
Jim Cramer Says Don't Sell Match Group: 'You've Just Got A Very, Very Smart Investor In There'
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Fortinet, Inc. (NASDAQ:FTNT) is not his favorite. He added that we own Palo Alto Networks, Inc. (NASDAQ:PANW) for the charitable trust. On July 11, Barclays analyst Saket Kalia maintained Fortinet with an Equal-Weight and lowered the price target from $75 to $70. When asked about Air Products and Chemicals, Inc. (NYSE:APD), Cramer said Linde plc (NASDAQ:LIN) is a “much better run company, and that's why Air Products isn't doing as well, and Linde's doing spectacularly.” On July 16, Air Products named Eric Guter as vice president of Investor Relations effective Sept. 30 succeeding Sidd...
Biden Blasts Trump At NAACP Convention, Touts Dems Cannabis Reforms As Race Tightens
At his first campaign appearance since Saturday's attempted assassination of his opponent, President Joe Biden vigorously criticized former President Donald Trump‘s policies and rhetoric Tuesday during the 115th NAACP National Convention in Nevada. Aiming to consolidate support among Black voters, Biden underscored the stark differences between his administration’s priorities and those espoused by Trump, which includes cannabis policy reform. Read Also: ‘I See Them Identifying With Trump,’ Says 50 Cent About Black Men Drifting Toward Ex-President In 2024 Election Amid growing concerns about Biden's electoral prospects for the 2024 presidential election and his leadership capabilities following the disastrous June 27 debate against Trump,...
Alphabet, CrowdStrike And 2 Other Stocks Insiders Are Selling
The Nasdaq 100 closed slightly higher on Tuesday. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision. Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform. Alphabet The Trade: Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) Director John L Hennessy sold a total...
AUD/USD: Market Stabilizes Amid Rate Cut Expectations
By RoboForex Analytical Department The Australian dollar has stabilized against the US dollar, currently trading around 0.6738. This follows a period of decline influenced by ongoing speculations regarding the US Federal Reserve's impending policy actions. Expectations are set for the Fed to initiate rate cuts starting in September, with an additional reduction anticipated before the year's end. Fed Chairman Jerome Powell recently reinforced these expectations by indicating that the regulator might not wait for inflation to hit the 2% target before reducing rates, responding to the current trajectory of the consumer price index. Conversely, the Reserve Bank of Australia (RBA) is perceived to...
Amazon To Rally Around 9%? Here Are 10 Top Analyst Forecasts For Wednesday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. TD Cowen cut the price target for Southwest Airlines Co. (NYSE:LUV) from $26 to $19. TD Cowen analyst Helane Becker maintained a Hold rating. Southwest shares gained 3.6% to close at $28.71 on Tuesday. See how other analysts view this stock. Susquehanna slashed the price target for J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) from $175 to $155. Susquehanna analyst Bascome Majors maintained a Neutral rating. J.B. Hunt Transport shares gained 3.8% to...
Hyundai's Genesis Is Reportedly Working On A New Exclusive EV Platform
Hyundai Motor‘s (OTCPK: HYMTF) luxury brand Genesis is reportedly working on a new EV platform that might not be shared with Hyundai and Kia. What Happened: Genesis’ GV60 is currently built on Hyundai’s E-GMP platform but it is on the way out, Edmunds reported, citing Genesis’ global head Mike Song. The upcoming refresh of the GV60 will be the last of Genesis’ lineup to be based on E-GMP, following which it will move on to a new EV platform, the report said. The resort also hinted that the new platform could be exclusive to Genesis and not shared with Hyundai and Kia....
US Bancorp Q2 Earnings: Net Interest Income Dips, But Fee Income Grows
U.S. Bancorp (NYSE:USB) shares are trading higher after it reported second-quarter FY24 results. Revenue stood at $6.867 billion (-4.3% Y/Y), beating the consensus of $6.795 billion. Net interest income (taxable-equivalent basis) fell 8.9% Y/Y to $4.05 billion owing to the impact of higher interest rates on deposit mix and pricing. The net interest margin decreased to 2.67% in the second quarter of 2024 from 2.90% in the year-ago quarter. Meanwhile, non-interest income rose 3.3% Y/Y to $2.8 billion, aided by higher fee revenue across most categories. Adjusted earnings per share totaled $0.98, beating the consensus of $0.94. The provision for credit losses for the second quarter of 2024 was $568 million, down 30.8% Y/Y, due to stabilization in the economic and credit environment. The company recorded an average...
Tesla Extends Model 3 Delivery Times In China: Report
Tesla Inc (NASDAQ:TSLA) has extended its delivery wait times for its Model 3 sedan in China, with the new expected wait time for all three variants now being 3-5 weeks, up from the previous 2-4 weeks. The last adjustment occurred on July 11, when the wait time increased from 1-4 weeks to 2-4 weeks. Meanwhile, the Model Y crossover’s delivery time has remained 1-3 weeks since July 4, CnEVPost reported. Both models are produced at Tesla’s Shanghai factory. The delivery dates for the Model S and Model X, which are not produced in China, remain set for the fourth quarter. In April, Tesla introduced...
ASML Reports Q2 Results, Joins Spirit Airlines And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
U.S. stock futures were lower this morning, with the Nasdaq futures falling around 300 points on Wednesday. Shares of ASML Holding N.V. (NASDAQ:ASML) fell in today's pre-market trading following the release of second-quarter results. The Dutch company reported a second-quarter net income of 1.6 billion euros ($1.75 billion) on revenues of 6.2 billion euros ($6.77 billion), surpassing analysts' expectations of 1.41 billion euros on revenue of 6.04 billion euros, Reuters reported on Wednesday. The new bookings for the quarter stood at 5.6 billion euros ($6.11 billion), a significant increase from the 3.6 billion euros in the first quarter of 2024. ASML shares dipped...
Elon Musk Highlights Top Silicon Valley Investors Marc Andreessen, Ben Horowitz Discussing Their Support For Trump: 'We Literally Believe The Future Of Our Business...Is At Stake' (UPDATED)
Editor’s Note: This story has been updated to clarify that Marc Andreessen and Ben Horowitz are the co-founders of Andreessen Horowitz, which is also known as a16z. Elon Musk, the CEO of Tesla Inc., drew attention to the support of two prominent Silicon Valley investors for former President Donald Trump, citing their reasons for the endorsement. What Happened: Musk shared a podcast episode of “The Ben & Marc Show,” co-hosted by venture firm Andreessen Horowitz‘s co-founders Marc Andreessen and Ben Horowitz, where the duo explained their backing of Trump. Andreessen said he has historically been a Democrat, having supported and voted for prominent...
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