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JPMorgan Chase, Citi and Wells Fargo Earnings to Follow Relative Strength in Their Stocks
By Steve Gelsi U.S.'s largest banks draw investor support as havens from commercial real estate woes JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. all report second-quarter earnings nex
Tesla, Boeing, Paramount, and More Stock Market Movers
Tesla trades lower following an eight-session winning streak for shares of the electric-vehicle maker, Boeing agrees to plead guilty to a criminal fraud charge related to the crashes of two 737 MAX jets, while Paramount reaches a merger deal with Skydance.
Citigroup: First time rating Kuaishou-W as "buy", with a target price of 69 Hong Kong dollars.
Citigroup has released a research report stating that it is giving a "buy" rating for Kuaishou-W(01024) for the first time. With the continuous improvement of financial performance and sustainable profit growth prospects, it believes that its current valuation is not high, equivalent to a forecasted 2025 P/E ratio of 8 times, and has a target price of HKD 69. The report stated that the prospect of the live broadcast industry is full of challenges considering the regulatory pressure and industry maturity. However, the bank sees the unique position that Kuaishou occupies in lower-tier cities, supported by resilient user spending time, decent growth in e-commerce commodity transaction volume, e-commerce advertising revenue improvement, especially from brand budgets with low penetration.
Citi's Singapore Workforce Shrinks by 500 Amid Global Restructuring, ST Says
Citigroup Inc.’s workforce in Singapore has shrunk by about 500 people amid a global restructuring planned by the Wall Street giant, the Straits Times reported Monday.
Stocks Poised to Open Lower
This week's economic highlights include the June consumer price index, the first batch of second-quarter earnings, and Fed Chair Jerome Powell's semiannual report to Congress.
Inflation Data, Powell Speaks, and Big Banks Report Earnings: What to Know This Week