Wall Street managed to finish higher this week despite Thursday’s brutal rotation out of tech stocks. The Dow Jones Industrial Average was the big winner on the week — advancing nearly 1.6% as favorable inflation data prompted investors to scoop up economic- and rate-sensitive stocks that have not done as well this year. The S … Read more
What a difference a year makes. Club holding Wells Fargo will post quarterly results on Friday, followed by our other financial holding, Morgan Stanley, on Tuesday. The industry’s first-quarter results will come against a more pleasant backdrop than last year, when the March 2023 collapse of Silicon Valley Bank sent shockwaves throughout the sector. The … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Markets bounce : Stocks kicked off … Read more
Bymuratdeniz | E+ | Getty Images With regulators exerting more scrutiny on mergers and acquisitions, managing risk is increasingly important for companies planning nuptials. One time-honored corporate M&A prenup strategy, which could become more important going forward, is the use of break-up fees, also known as termination fees. These fees — paid by the buyer, … Read more
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase CEO Jamie Dimon isn’t worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover … Read more
Capital One headquarters in McLean, Virginia on February 20, 2024. Brendan Smialowski | AFP | Getty Images Capital One‘s blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter … Read more
Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger â gaining “scale” in Wall Street-speak â it’s a bid to protect itself against a rising tide of fintech and regulatory threats. It’s a chess … Read more
Sopa Images | Lightrocket | Getty Images Capital One Financial is set to acquire Discover Financial Services, according to a report from The Wall Street Journal. The deal could be announced Tuesday, the outlet said, citing sources. It will be an all-stock deal and Capital One, which already uses Visa and Mastercard networks, plans to … Read more
