financebanking
A 9.0% decline in Intuit Inc (NASDAQ: INTU) following its quarterly earnings report last night is worth buying, as per a UBS analyst. Intuit stock could climb to $670Intuit stock is taking a hit this morning because the management’s guidance for the current quarter failed to impress the market. Still, Jennifer Swanson Lowe raised her price objective on $INTU in a recent research note to $670 which suggests a near 12% upside from here. The UBS analyst is bullish on the financial software company as she sees potential for continued growth in company’s consumer group revenue that popped some 9.0%...
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Walmart Inc (NYSE: WMT) is in the green at writing after announcing an end to its years-long agreement with Capital One Financial Corp (NYSE: COF). What does it mean for existing cardholders?$COF has been exclusively issuing Walmart Consumer Credit Cards since 2019. Last year, however, the retail behemoth accused it of being too slow in replacing lost cards and making transactions appear on cardholders’ accounts. While Walmart has now decided to part ways with Capital One, it does not immediately change things for existing cardholders, as per the press release on Friday. Cardholders can contin...
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Lemonade (NYSE: LMND) stock price is not doing well as the company’s revenue and losses rise. It has plunged by over 91% from its highest level in 2021, pushing its total market cap from over $12 billion to about $1 billion today. Root Inc. is beating LemonadeRoot, Inc. (NASDAQ: ROOT), another insurance technology company, has also plunged from over $500 in 2020 to about $56 today. Its market valuation has moved from almost $6 billion to about $890 million today. Recently, however, the two companies have diverged. Root stock price has soared by over 1,090% in the past 12 months, beating popula...
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St. James Place (LON: STJ) share price popped by over 4% on Thursday, making it the best-performing company in the FTSE 100 index. It jumped to a high of 490p, higher than the year-to-date low of 388p. Still, despite the jump, the stock remains 68% below its highest point in 2021. The latest surge happened as investors reacted to the acquisition bid for Hargreaves Lansdown. The investment platform rejected a near £5 billion deal from CVC and Hargreaves Lansdown noting that it severely undervalued it. Analysts believe that the two companies or other bidders will make a counteroffer at a higher ...
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Lloyds Bank (LON: LLOY) share price continued its remarkable comeback this week after the latest UK inflation numbers dampened hopes of rate cuts. It is in its third consecutive week of gains and is hovering at its highest level since December 2019. It has surged by more than 184% from its lowest point in 2020. Bank of England rate hikesLloyds and other British banks reacted positively to the latest UK inflation numbers. According to the Office of National Statistics (ONS), the headline Consumer Price Index (CPI) slipped from 3.2% in March to 2.3% in April. Core CPI, which excludes the volatil...
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Robinhood Markets Inc (NASDAQ: HOOD) is flying high on Friday after a Bank of America analyst issued a super bullish note in its favour. Robinhood stock could gain another 22%Craig Siegenthaler doubled upgraded the financial technology company this morning to “buy” and said its shares could climb to $24 which suggests another 22% upside from here. The analyst is positive on Robinhood stock as he expects retail activity to remain strong moving forward. His research note reads: Following the emergence of a new bull market last year, we have monitored a rebound in multiple metrics at Robinhood Ma...
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The Bank of America Corporation (BofA) is set to purchase Washington Federal Bank’s portfolio of commercial multi-family real estate loans, valued at $3.2 billion. The announcement was made by Washington Federal, Inc. (WaFd), the parent company of Washington Federal Bank, in a regulatory filing on Friday. BoFA’s deal with Washington Federal BankAccording to the filing, BofA has agreed “to purchase approximately 2,000 commercial multi-family real estate loans with a current aggregate unpaid principal balance of $3.2 billion.” This significant acquisition marks a strategic move by BofA to expand...
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In a noteworthy display of confidence in Nu Holdings Ltd (NYSE:NU), both SoftBank Group and the Saudi Arabia sovereign wealth fund made strategic moves in the first quarter of 2024. While SoftBank Group increased its equity stake in Nu Holdings from 22.0 million shares to 23.3 million shares, the Saudi Arabia sovereign wealth fund initiated a new position in the company, acquiring 1.18 million class A ordinary shares. These transactions, disclosed in regulatory filings on May 15, 2024, underscore the growing interest of institutional investors in the Brazil-based digital banking platform. Esta...
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Insurance major Chubb Limited (NYSE:CB) is in the spotlight today, thanks to Warren Buffett’s Berkshire Hathaway unveiling a substantial $6.72 billion stake in the insurance giant. Berkshire’s move has further elevated Chubb’s profile. With Chubb hitting record highs in after-hours trading following the disclosure, it’s evident that the market perceives this development as a vote of confidence from one of the most respected investors of our time. Chubb’s allure as an investment prospect stems not only from the Berkshire endorsement but also from its robust business fundamentals. The insurer ha...
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Mastercard (NYSE: MA) and Standard Chartered Bank Hong Kong (SCBHK) have successfully completed the first live test of tokenised deposits using blockchain technology within Hong Kong’s fintech sandbox. This initiative marks a significant step forward in exploring the potential of blockchain in revolutionising banking transactions and asset management. Tokenised deposits using Mastercard’s Multi-Token NetworkThe successful execution of tokenized deposits highlights the growing synergy between traditional banking institutions and cutting-edge fintech solutions. Through the Mastercard Multi-Token...
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