STOCKS TELEGRAPH

Tag: BMO

  • Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Yesterday was a volatile day on Wall Street. The S&P 500 closed 0.13% lower but looking at the high and low price we see a volatility of 2.34%. The final closing price was 3,881 points. Nasdaq 100 closed 0.22% lower, but even had a movement of 3.78% intraday. The final closing price was 13,194 points. The oldest US index is known for lower volatility than the two above. The Dow rose 0.05% and had a volatility of 1.59% intraday. During the closing bell, the Dow Jones Industrial Average was trading at 31,537 points. The high volatility on the US stock exchange translated into lower Asian stock prices.

    The chairman of the Fed, Jerome Powell, took the floor yesterday. According to the Fed, it is nowhere near the time to think about normalizing monetary policy. Powell also argues that higher yields in the bond market are a sign of confidence rather than fear of inflation. A period of high inflation is usually accompanied by a period of sharply rising commodity prices. The latter are now really on the rise. You only have to take the graphs of copper, soybeans, sugar, wood, cotton and so much more. All these commodities are quoted on the futures market, which is mainly used by producers for hedging and speculators.

    Company News

    The Tesla stock started the year at $720 and yesterday the stock closed below $700. So Tesla is currently with a negative return. It is becoming more and more clear that not only Tesla is on a conquest. German car manufacturers are recording increasingly higher sales figures for their electric car segment, and Chinese competitors Nio and Xpeng are also showing increasingly better figures. Non-carmakers like Apple are also venturing into electric cars, suggesting Tesla is flattening its first mover advantage. Tesla delivered nearly 500,000 cars in 2020. According to Elon Musk, sales would increase by 50% annually for the next two years. Whether Tesla can deliver on this outlook will largely depend on how the economy recovers from the corona crisis.

    A second possible reason for the sharp fall in Tesla shares can be found in the pricing. Tesla lowered the prices of Model Y and Model 3 by about $2,000 last week. Investors now suspect that the price drops show that demand for Tesla is not as high as most expect.

    Today Top Movers

    Upwork Inc. (UPWK) stock soared 18.69% to $61.21 in the pre-market trading ‎after UPWK reported adjusted fourth-quarter profit and sales. Upwork said it earned $900,000, or 1 cent a share, contrasting with a loss of $5.5 million, or 5 cents a share, in the fourth quarter of 2019.

    ‎Arlo Technologies Inc. (NYSE: ARLO) shares are trading up 25.45% at $8.38 at the time of writing. ARLO also reported Q4 Earnings, In a note Matthew McRae, CEO of ARLO told that company closed out the year with an 89.1% year over year paid account growth.

    ‎NIO Limited (NIO), an auto manufacturers company, rose about 1.71% at $49.95 ‎in pre-market trading Wednesday.‎ The share price of NIO fell in recent days, but the drop appears to have been driven by volatility leading up to the company’s earnings report, scheduled for March 1. NIO vehicles may soon be sold in the United States thanks to strong deliveries.

    Big Rock Partners Acquisition Corp. (BRPA) grew over 49.05% at $65.0 in pre-market trading today.‎ BRPA has signed an agreement to complete a business combination with Big Rock Partners Acquisition. Announcing that the Phase 2b/3 trial of ZYESAMI for the treatment of Respiratory Failure in Covid-19 critically ill patients.

    Top Upgrades & Downgrades

    Deutsche Bank turned bullish on McAfee Corp. (MCFE), upgrading the stock to “Buy” and assigning a $23.5 price target, representing a potential upside of 20.82% from Tuesday’s close. 

    BigCommerce Holdings, Inc. (BIGC) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $75, suggesting 18.43% additional upside for the stock. 

    Bank of Montreal (BMO) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $108.0. They changed their rating on BMO to Outperform from Neutral in a recently issued research note. 

    Earlier Wednesday Deutsche Bank reduced its rating on InterContinental Hotels Group PLC (IHG) stock to Hold from Buy. 

    William Blair analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Systemax Inc. (SYX) has been changed to Market Perform from Outperform. 

    Analysts at Goldman Sachs downgraded Energizer Holdings Inc. (ENR)’s stock to Neutral from Buy Wednesday.

    Latest Insider Activity

    MGM Resorts International (MGM) Director JAMMET MARY CHRIS announced the sale of shares taking place on Feb 23 at $38.62 for some 6,626 shares. The total came to more than $0.26 million.

    SunPower Corporation (SPWR) Principal Accounting Officer Heang Vichheka sold on Feb 22 a total 2,124 shares at $35.81 on average. The insider’s sale generated proceeds of almost $76060.

    OPKO Health Inc. (OPK) CEO & Chairman FROST PHILLIP MD ET AL declared the purchase of shares taking place on Feb 19 at $4.77 for some 500,000 shares. The transaction amount was around $2.38 million.

    Sonos Inc. (SONO) Director Volpi Michelangelo bought on Feb 19 a total 53,774 shares at $37.35 on average. The purchase cost the insider an estimated $2.0 million.

    Important Earnings

    Top US earnings releases scheduled for today include The TJX Companies Inc. (NYSE: TJX). It will announce its Jan 2021 financial results. The company is expected to report earnings of $0.62 per share from revenues of $11.48B in the three-month period. 

    Analysts expect ViacomCBS Inc. (NASDAQ: VIAC) to report a net income (adjusted) of $1.02 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $6.88B. 

    Gran Tierra Energy Inc. (GTE), due to announce earnings after the market closes today, is expected to report revenues of $190.43M recently concluded three-month period.

  • Top 20 Banking Industry Stocks For October 2020

    Top 20 Banking Industry Stocks For October 2020

    Banking Industry is continuously adopting digitization and new-age technologies around the world. The COVID-19 pandemic has forced the banks to change their decision-making processes and focus on cost. This industry has eagerly adopted machine learning and artificial intelligence to cope up with the challenges it has experienced due to the ongoing pandemic. The first and foremost priority of banks is always customers. Banks are striving to improve the experience of their customers by bringing new innovations.

    One thing which the pandemic has taught to every industry is the importance of technology. Now this industry is looking for ways to adopt new technologies such as blockchain, artificial intelligence, machine learning, and cloud computing. Customers across all industries want smooth experiences. The banking industry is of no exception. Best-in-class customer services and frictionless experiences are always the main priority of the banking sector.

    Here are the top 20  leading companies in the bank diversified industry. Let’s take a look at how these companies are providing the best-in-class services to its customers:

    Bank of America Corporation (NYSE: BAC)

    Bank of America Corporation (NYSE: BAC) shares were trading down -1.02% at $24.37 at the time of writing on Tuesday. Bank of America Corporation (NYSE: BAC) share price went from a low point around $17.95 to briefly over $35.72 in the past 52 weeks, though shares have since pulled back to $24.37. BAC market cap has remained high, hitting $210.18B at the time of writing, giving it a price-to-sales ratio of more than 3.

    BAC has earlier introduced the Life Plan® to improve the experience e of its customers. This new initiative will give digital experience to clients through which clients can set and track near and long-term goals based on their life priorities, and better understand and act on steps toward achieving them. If we look at the recent analyst rating BAC, Deutsche Bank upgraded coverage on BAC shares with a Buy rating and a $28.69 price target, which implies room for 4.32% upside momentum this year.

    Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA)

    Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) last closed at $2.83, in a 52-week range of $2.49 to $5.80. Analysts have a consensus price target of $2.94. Banco Bilbao Vizcaya Argentaria S.A. (BBVA) Senior Executive Vice President and Chief Talent & Culture Executive Rosilyn Houston has been named earlier to American Banker’s Top 25 Most Powerful Women in Banking list, marking the fifth consecutive year she has been recognized by the outlet.

    Barclays PLC (NYSE: BCS)

    Barclays PLC (NYSE: BCS) stock soar by 2.92% to $5.28. The most recent rating by Investec, on July 10, 2020, is at a Buy. Barclays PLC (BCS) has disclosed previously that during the next quarterly index rebalancing period, which will start after the close of business on Friday, October 9, 2020, there will be no changes to the constituents in the Index. BCS market capitalization has remained high, hitting $22.83 billion at the time of writing.

    Bank of Montreal (NYSE: BMO)

    Bank of Montreal (NYSE: BMO) shares headed rising, higher as much as 2.18%. The most recent rating by BofA Securities, on October 06, 2020, is at a Neutral. BMO has disclosed that it will implement a 1-for-20 reverse split of its MicroSectors™ U.S. Big Oil Index 3X Leveraged ETNs, anticipated to be effective as of October 12, 2020. The reverse split will be effective at the open of trading on October 12, 2020. NRGU will commence trading on the NYSE Arca on a reverse split-adjusted basis on October 12, 2020.

    Citigroup Inc. (NYSE: C)

    Citigroup Inc. (NYSE: C) last closed at $44.41, in a 52-week range of $32.00 to $83.11. Analysts have a consensus price target of $67.48. Citigroup Inc. (C) has disclosed that it has it expelled a manager in its technology department after an investigation into his role as the operator of a popular website dedicated to the unfounded QAnon conspiracy theory. Citigroup Inc. has a trading volume of 29.43 million as compared to the average volume of 23.11 million.

    Credit Suisse Group AG (NYSE: CS)

    Credit Suisse Group AG (NYSE: CS) shares headed falling, lower as much as -0.19%. The most recent rating by Exane BNP Paribas, on September 03, 2020, is at an Outperform. Credit Suisse Group AG (CS) has earlier announced coupon payments for the various ETNs. The company revealed that for each ETN, the Current Yield equals the Coupon Amount, annualized and divided by the Closing Indicative Value.

    East West Bancorp Inc. (NASDAQ: EWBC)

    East West Bancorp Inc. (NASDAQ: EWBC) rose 0.45% after gaining more than $0.16 on Tuesday. East West Bancorp Inc. (EWBC) parent company of East West Bank, the financial bridge between the United States and Greater China, announced that it will share third-quarter 2020 financial results before the market opens on Thursday, October 22, 2020.

    HSBC Holdings plc (NYSE: HSBC)

    HSBC Holdings plc (NYSE: HSBC) last closed at $19.99, in a 52-week range of $17.95 to $39.69. Analysts have a consensus price target of $22.56. HSBC Holdings plc (HSBC) part of HSBC Group, has provided $800,000 in grants to selected Community Development Financial Institutions (CDFIs) and nonprofits.

    JPMorgan Chase & Co. (NYSE: JPM)

    JPMorgan Chase & Co. (NYSE: JPM) shares headed falling, lower as much as -1.03%. The most recent rating by Deutsche Bank, on September 03, 2020, is at a Buy. JPMorgan Chase & Co. (JPM) announced that it is adopting a financing commitment that is aligned to the goals of the Paris Agreement (Paris). As part of its strategy, the firm plans to help clients navigate the challenges and capitalize on the long-term economic and environmental benefits of transitioning to a low-carbon world.

    NatWest Group plc (NYSE: NWG)

    NatWest Group plc (NYSE: NWG) stock soar by 2.81% to $2.93. NatWest Group plc (NWG) Chief Executive Alison Rose said she was already thinking about how to prepare the state-baked lender for negative rates, although she still believed the monetary policy remained “hypothetical” for now.

    Banco Santander S.A. (NYSE: SAN)

    Banco Santander S.A. (NYSE: SAN) rose 3.16% after gaining more than $0.06 on Tuesday. Banco Santander S.A. (SAN) chairman Ana Botín said on Tuesday that there were tough times ahead as the world entered in the second wave of the novel coronavirus crisis – and that there could even be a third wave.

    UBS Group AG (NYSE: UBS)

    UBS Group AG (NYSE: UBS) shares headed rising, higher as much as 0.09%. The most recent rating by Berenberg, on May 04, 2020, is at a Hold. UBS Wealth Management USA revealed that three financial advisors have joined the firm in California. Henry Anthony (Tony) Hernandez and Robert Magallanes will be based in Irvine, Orange County, and Carl Nelson will be based in downtown Los Angeles.

    The Bank of Nova Scotia (NYSE: BNS)

    The Bank of Nova Scotia (NYSE: BNS) fall -0.05% after losing more than -$0.02 on Tuesday. The Bank of Nova Scotia (NYSE: BNS) share has fluctuated $31.94 from its 52-weeks low range and $58.22 from its 52-weeks high range. BNS has traded up 31.50% from its 52-weeks low and moved down -27.86% from its 52-weeks high. The Bank of Nova Scotia market capitalization has remained high, hitting $50.43 billion at the time of writing.

    Canadian Imperial Bank of Commerce (NYSE: CM)

    Canadian Imperial Bank of Commerce (NYSE: CM) stock soar by 0.14% to $76.36. The most recent rating by Canaccord Genuity, on August 28, 2020, is at a Buy. Canadian Imperial Bank of Commerce (CM) share price went from a low point around $46.45 to briefly over $87.62 in the past 52 weeks, though shares have since pulled back to $76.36. CM market cap has remained high, hitting $33.94 billion at the time of writing.

    ING Groep N.V. (NYSE: ING)

    ING Groep N.V. (NYSE: ING) stock soar by 1.89% to $7.54. The most recent rating by Credit Suisse, on September 08, 2020, is at an Outperform. ING Groep N.V. (ING) share has fluctuated $4.52 from its 52-weeks low range and $12.44 from its 52-weeks high range. ING has traded up 66.81% from its 52-weeks low and moved down -39.39% from its 52-weeks high. ING Groep N.V. market capitalization has remained high, hitting $28.76 billion at the time of writing.

    Mitsubishi UFJ Financial Group Inc. (NYSE: MUFG)

    Mitsubishi UFJ Financial Group Inc. (NYSE: MUFG) fall -0.73% after losing more than -$0.03 on Tuesday. Mitsubishi UFJ Financial Group Inc. (MUFG) share price went from a low point around $3.32 to briefly over $5.54 in the past 52 weeks, though shares have since pulled back to 4.08. MUFG market cap has remained high, hitting $53.89 billion at the time of writing.

    The Bank of N.T. Butterfield & Son Limited (NYSE: NTB)

    The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) last closed at $24.81, in a 52-week range of $13.76 to $38.05. Analysts have a consensus price target of $29.17. The Bank of N.T. Butterfield & Son Limited (NTB) has traded up 80.31% from its 52-weeks low and moved down -34.80% from its 52-weeks high. The Bank of N.T. Butterfield & Son Limited market capitalization has remained high, hitting $1.22 billion at the time of writing.

    Royal Bank of Canada (NYSE: RY)

    Royal Bank of Canada (NYSE: RY) shares headed falling, lower as much as -0.18%. The most recent rating by Barclays, on August 19, 2020, is at an Overweight. Royal Bank of Canada (RY) share price went from a low point around $49.55 to briefly over $82.74 in the past 52 weeks, though shares have since pulled back to 71.87. RY market cap has remained high, hitting $101.74 billion at the time of writing.

    Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG)

    Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) last closed at $5.69, in a 52-week range of $4.49 to $7.56. Analysts have a consensus price target of $9.26. Sumitomo Mitsui Financial Group Inc. (SMFG) market cap has remained high, hitting $38.15 billion at the time of writing.

    The Toronto-Dominion Bank (NYSE: TD)

    The Toronto-Dominion Bank (NYSE: TD) stock drop by -0.63% to $47.57. The most recent rating by BofA Securities, on October 06, 2020, is at an Underperform. The Toronto-Dominion Bank (TD) has a total market capitalization of $84.81 billion at the time of writing.