bankofamerica
Silicon Motion Technology Corp. (NASDAQ: SIMO) is grappling with a significant blow as Bank of America (BofA) downgrades the stock from a Buy to an Underperform rating and slashes its price target from $90 to $60. This drastic revision points to a potential downside of approximately 6.5% from current trading levels, raising questions about whether investors should sell or hold their positions. Why the downgrade?BofA’s downgrade stems from several key issues impacting Silicon Motion. Analysts cited increased stock volatility, weakening demand in the commodity memory sector, and a less optimisti...
Invezz
Amid recent turbulence in the semiconductor sector, Bank of America (BofA) analysts are forecasting a potential rebound for semiconductor stocks. The sector has been significantly impacted by the fluctuating effects of investments in AI infrastructure, leading to heightened volatility and investor uncertainty. In recent weeks, semiconductor stocks have faced considerable declines as market participants struggle to assess the long-term returns from AI investments. With AI still in its developmental phase, differing opinions on its growth and potential returns have contributed to the sector’s in...
Invezz
Barrick Gold Corp (NYSE: GOLD) has outperformed market expectations with its Q2 2024 earnings, reflecting strong operational performance amidst a booming gold market. As gold prices hover near historic highs, Barrick’s strategic initiatives and robust financials position the company to capitalize on ongoing market opportunities. Q2 earnings in detailIn Q2 2024, Barrick reported non-GAAP earnings per share (EPS) of $0.32, surpassing analyst estimates by $0.05. The company achieved revenues of $3.16 billion, marking an 11.7% year-over-year increase. This growth was driven by a combination of two...
Invezz
On August 5, Bank of America upgraded Apollo Global Management to “Buy” from “Neutral” following a significant 20% drop in the company’s stock since the start of the month. BofA analysts attributed this drop to weaker-than-expected Q2 results alongside broader market pressures, including weak economic data and a lower interest rate outlook. Apollo Global Q2 earnings snapshotThe Q2 financial results for Apollo Global Management fell short of Wall Street expectations, with a reported Non-GAAP EPS of $1.64, missing estimates by $0.11. This downturn was caused majorly by a decline in profits from ...
Invezz
ValueWalk
UBS Group AG (NYSE: UBS) è al centro dell’attenzione questa mattina dopo aver intentato una causa da 200 milioni di dollari contro la Bank of America Corp (NYSE: BAC). Il colosso bancario svizzero sostiene che la Bank of America non ha onorato gli accordi di indennizzo relativi ai mutui rischiosi emessi da Countrywide Financial che BAC ha acquistato nel 2008. La causa, depositata presso la Corte Suprema dello Stato di New York, è incentrata sui titoli garantiti da ipoteca che UBS ha creato utilizzando prestiti originati da Countrywide. Secondo UBS, Countrywide ha accettato di risarcire il colo...
Invezz - IT
UBS Group AG (NYSE : UBS) est au centre de l’attention ce matin après avoir intenté une action en justice de 200 millions de dollars contre la Bank of America Corp (NYSE : BAC). Le géant bancaire suisse affirme que Bank of America n’a pas honoré les accords d’indemnisation liés aux prêts hypothécaires à risque émis par Countrywide Financial que BAC a acheté en 2008. Le procès, déposé devant la Cour suprême de l’État de New York, porte sur des titres adossés à des créances hypothécaires qu’UBS a créés à l’aide de prêts émis par Countrywide. Selon UBS, Countrywide a accepté d’indemniser le géant...
Invezz - FR
UBS Group AG (NYSE: UBS) está en el foco de atención esta mañana después de presentar una demanda de 200 millones de dólares contra Bank of America Corp (NYSE: BAC). El gigante bancario suizo alega que Bank of America no cumplió los acuerdos de indemnización relacionados con hipotecas riesgosas emitidas por Countrywide Financial que BAC compró en 2008. La demanda, presentada ante la Corte Suprema del Estado de Nueva York, se centra en valores respaldados por hipotecas que UBS creó utilizando préstamos originados por Countrywide. Según la UBS, Countrywide ha acordado indemnizar al gigante de lo...
Invezz - ES
UBS Group AG (NYSE: UBS) is in focus this morning after filing a $200 million lawsuit against the Bank of America Corp (NYSE: BAC). The Swiss banking giant alleges that Bank of America did not honour indemnification agreements related to risky mortgages issued by Countrywide Financial that BAC bought in 2008. The lawsuit, filed in the New York State Supreme Court, centres on mortgage-backed securities that UBS created using loans originated by Countrywide. According to UBS, Countrywide has agreed to indemnify the financial services behemoth against claims arising from poorly underwritten or fr...
Invezz
In a recent shift that has stirred investor sentiment, HSBC has downgraded ARM Holdings PLC (NASDAQ: ARM) from ‘Hold’ to ‘Reduce’. The new price target for ARM is set at $105, down from the previous $100, amid concerns about the company’s high valuation and a slowing market for Android smartphones. This downgrade comes just as ARM is preparing to release its Q1 earnings report on Wednesday, with the stock currently trading at $149. This pricing indicates a potential downside of approximately 30%, reflecting apprehensions about the company’s premium valuation, which stands at 72 times its fisca...
Invezz
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