As Pvh (PVH) Stock Price Declined, Quantbot Technologies LP Has Upped Its Stake; Barclays Plc …

Quantbot Technologies Lp bought 21,916 shares as the company’s stock declined … The stock decreased 0.95% or $0.67 during the last trading session, …. decreased its stake in Cboe Global Markets Inc (NASDAQ:CBOE) by 7,228 …

PVH Corp. (NYSE:PVH) Logo

Quantbot Technologies Lp increased its stake in Pvh Corp (PVH) by 152.88% based on its latest 2019Q1 regulatory filing with the SEC. Quantbot Technologies Lp bought 21,916 shares as the company’s stock declined 30.70% . The hedge fund held 36,251 shares of the apparel company at the end of 2019Q1, valued at $4.42M, up from 14,335 at the end of the previous reported quarter. Quantbot Technologies Lp who had been investing in Pvh Corp for a number of months, seems to be bullish on the $5.23B market cap company. The stock decreased 0.95% or $0.67 during the last trading session, reaching $69.81. About 1.08 million shares traded. PVH Corp. (NYSE:PVH) has declined 42.00% since August 28, 2018 and is downtrending. It has underperformed by 42.00% the S&P500. Some Historical PVH News: 30/05/2018 – PVH CORP – REVENUE IN 2018 IS PROJECTED TO INCREASE APPROXIMATELY 6%; 28/03/2018 – International Sales of Calvin Klein, Tommy Hilfiger Hand PVH Earnings Beat; 28/03/2018 – PVH 4Q REV. $2.5B, EST. $2.35B; 17/04/2018 – PVH Corp. Announces Partnership with WWF to Preserve and Protect Global Water Re; 29/03/2018 – PVH CORP PVH.N : COWEN RAISES TARGET PRICE TO $170 FROM $165; RATING OUTPERFORM; 31/05/2018 – PVH CEO SAYS TO LAUNCH HERITAGE DIGITAL E-COMMERCE SITE THIS SUMMER – CONF CALL; 30/05/2018 – PVH CORP – REVENUE FOR CALVIN KLEIN BUSINESS IS PROJECTED TO INCREASE APPROXIMATELY 8% IN 2018; 28/03/2018 – PVH Corp Sees FY18 EPS $8.76-EPS $8.86; 28/03/2018 – PVH 4Q ADJ EPS $1.58, EST. $1.47; 28/03/2018 – PVH CORP PVH.N : CREDIT SUISSE RAISES TARGET PRICE TO $178 FROM $175

Barclays Plc decreased its stake in Servicemaster Global Hldgs I (SERV) by 84.1% based on its latest 2019Q1 regulatory filing with the SEC. Barclays Plc sold 212,891 shares as the company’s stock rose 8.92% . The institutional investor held 40,264 shares of the consumer services company at the end of 2019Q1, valued at $1.88 million, down from 253,155 at the end of the previous reported quarter. Barclays Plc who had been investing in Servicemaster Global Hldgs I for a number of months, seems to be less bullish one the $7.69B market cap company. The stock decreased 0.40% or $0.23 during the last trading session, reaching $56.63. About 350,598 shares traded. ServiceMaster Global Holdings, Inc. (NYSE:SERV) has risen 36.50% since August 28, 2018 and is uptrending. It has outperformed by 36.50% the S&P500. Some Historical SERV News: 03/05/2018 – ServiceMaster Appoints Rex Tibbens as Pres and CEO of American Home Shield; 26/03/2018 – ServiceMaster Provides Update on Spin-off of Amer Home Shield, Announces Interim Pres of AHS; 26/03/2018 – SERVICEMASTER GLOBAL HOLDINGS INC – STEVE HOCHHAUSER WILL SERVE AS INTERIM PRESIDENT OF AMERICAN HOME SHIELD; 03/05/2018 – SERVICEMASTER GLOBAL HOLDINGS INC – TIBBENS IS A FORMER CHIEF OPERATING OFFICER OF LYFT; 30/03/2018 – Merry Maids Earns Top Ranking Among Home Cleaning Companies in Entrepreneur’s 2018 Franchise 500® List; 01/05/2018 – ServiceMaster Global 1Q EPS 30c; 26/03/2018 – SERVICEMASTER: PRESIDENT OF AMERICAN HOME SHIELD TO LEAVE; 09/04/2018 – SERVICEMASTER GLOBAL HOLDINGS – ON APRIL 5, BOARD EXPANDED IT DIRECTORSHIPS BY ONE AND APPOINTED WILLIAM C. COBB, AS A MEMBER OF BOARD – SEC FILING; 01/05/2018 – ServiceMaster Global 1Q Adjusted Ebitda $141; 26/03/2018 – ServiceMaster Global: Spin-off Continues to Be on Track to Be Completed in 3Q

More notable recent ServiceMaster Global Holdings, Inc. (NYSE:SERV) news were published by: Businesswire.com which released: “ServiceMaster Global Holdings to Announce Second-Quarter 2019 Results – Business Wire” on July 16, 2019, also Fool.com with their article: “3 Things Investors Should Know About This ServiceMaster Spinoff – Motley Fool” published on October 17, 2018, Businesswire.com published: “ServiceMaster to Outline Strategy for Future Growth at 2018 Investor Day – Business Wire” on December 11, 2018. More interesting news about ServiceMaster Global Holdings, Inc. (NYSE:SERV) were released by: Nasdaq.com and their article: “Why Frontdoor Stock Just Dropped 30% – Nasdaq” published on November 06, 2018 as well as Seekingalpha.com‘s news article titled: “ServiceMaster Remade, A Look At The Work In Progress – Seeking Alpha” with publication date: August 20, 2019.

Barclays Plc, which manages about $145.02B US Long portfolio, upped its stake in Verint Sys Inc (NASDAQ:VRNT) by 219,746 shares to 220,846 shares, valued at $13.22M in 2019Q1, according to the filing. It also increased its holding in Paccar Inc (NASDAQ:PCAR) by 492,830 shares in the quarter, for a total of 501,330 shares, and has risen its stake in Bmc Stk Hldgs Inc.

Investors sentiment increased to 1.2 in Q1 2019. Its up 0.35, from 0.85 in 2018Q4. It improved, as 46 investors sold PVH shares while 121 reduced holdings. 59 funds opened positions while 142 raised stakes. 69.26 million shares or 1.90% less from 70.60 million shares in 2018Q4 were reported. Franklin Resource stated it has 0.08% of its portfolio in PVH Corp. (NYSE:PVH). D E Shaw And invested 0.15% in PVH Corp. (NYSE:PVH). Dynamic Capital, United Kingdom-based fund reported 9,200 shares. Endurance Wealth stated it has 0% in PVH Corp. (NYSE:PVH). Quantitative Investment Management Ltd Liability Corporation holds 0.12% or 17,700 shares. Elk Creek Ptnrs Limited Co reported 0.23% stake. 359 were reported by Huntington National Bank & Trust. Advisors Asset Mgmt reported 0% in PVH Corp. (NYSE:PVH). Pzena Invest Limited Co invested in 1.29% or 1.95 million shares. State Of New Jersey Common Pension Fund D owns 0.02% invested in PVH Corp. (NYSE:PVH) for 43,500 shares. The Netherlands-based Pggm Investments has invested 0.12% in PVH Corp. (NYSE:PVH). Lombard Odier Asset (Switzerland) holds 0.03% of its portfolio in PVH Corp. (NYSE:PVH) for 2,397 shares. Federated Pa has 0% invested in PVH Corp. (NYSE:PVH). Ftb reported 75 shares. San Francisco Sentry Investment (Ca) reported 246 shares.

More notable recent PVH Corp. (NYSE:PVH) news were published by: Seekingalpha.com which released: “Fashion companies sign environment pact – Seeking Alpha” on August 23, 2019, also Finance.Yahoo.com with their article: “Is PVH Corp (PVH) A Good Stock To Buy? – Yahoo Finance” published on June 17, 2019, Benzinga.com published: “Earnings Scheduled For August 28, 2019 – Benzinga” on August 28, 2019. More interesting news about PVH Corp. (NYSE:PVH) were released by: Investorplace.com and their article: “5 Top Stock Trades for Monday: JCP, DBX, TTD, YELP – Investorplace.com” published on August 09, 2019 as well as Finance.Yahoo.com‘s news article titled: “PVH Corp. Signs Fashion Pact, Joins Industry Peers to Create More Sustainable Future – Yahoo Finance” with publication date: August 23, 2019.

Quantbot Technologies Lp, which manages about $581.51 million and $1.05 billion US Long portfolio, decreased its stake in Cboe Global Markets Inc (NASDAQ:CBOE) by 7,228 shares to 8,292 shares, valued at $791,000 in 2019Q1, according to the filing. It also reduced its holding in Bank Of Montreal (NYSE:BMO) by 4,064 shares in the quarter, leaving it with 3,702 shares, and cut its stake in Akamai Technologies Inc (NASDAQ:AKAM).

Since May 31, 2019, it had 1 insider buy, and 0 selling transactions for $99,408 activity.

PVH Corp. (NYSE:PVH) Institutional Positions Chart

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Blackrock INC (BLK) Stock Value Declined While Junto Capital Management LP Has Cut by …

Great Lakes Ltd Liability Corporation reported 0.08% in BlackRock, Inc. (NYSE:BLK). Roberts Glore Co Il owns 473 shares. Cambridge owns 39,103 …

BlackRock, Inc. (NYSE:BLK) LogoInvestors sentiment increased to 1.38 in 2019 Q1. Its up 0.44, from 0.94 in 2018Q4. It improved, as 50 investors sold BLK shares while 280 reduced holdings. 104 funds opened positions while 351 raised stakes. 122.61 million shares or 6.52% less from 131.16 million shares in 2018Q4 were reported. Eastern Bancshares holds 38,798 shares or 1.11% of its portfolio. Great Lakes Ltd Liability Corporation reported 0.08% in BlackRock, Inc. (NYSE:BLK). Roberts Glore Co Il owns 473 shares. Cambridge owns 39,103 shares. New Jersey-based Prudential Fincl Inc has invested 0.08% in BlackRock, Inc. (NYSE:BLK). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Management Corp invested in 0.01% or 2,400 shares. State Of Tennessee Treasury Department invested in 64,662 shares or 0.14% of the stock. Sand Hill Limited Liability Corporation holds 8,736 shares. Capital Advsrs Ok invested in 14,451 shares. Japan-based Sumitomo Mitsui has invested 0.18% in BlackRock, Inc. (NYSE:BLK). Dearborn Limited Liability Corp stated it has 2,329 shares. Highland Capital Management Ltd Company reported 11,850 shares. The Montana-based First Interstate Natl Bank has invested 0.19% in BlackRock, Inc. (NYSE:BLK). First Midwest Fincl Bank Division holds 0.06% in BlackRock, Inc. (NYSE:BLK) or 1,100 shares. Ing Groep Nv reported 0.05% stake.

Junto Capital Management Lp decreased its stake in Blackrock Inc (BLK) by 20.86% based on its latest 2019Q1 regulatory filing with the SEC. Junto Capital Management Lp sold 44,470 shares as the company’s stock declined 2.39% . The institutional investor held 168,670 shares of the finance company at the end of 2019Q1, valued at $72.08 million, down from 213,140 at the end of the previous reported quarter. Junto Capital Management Lp who had been investing in Blackrock Inc for a number of months, seems to be less bullish one the $63.34 billion market cap company. The stock decreased 2.80% or $11.75 during the last trading session, reaching $407.25. About 853,346 shares traded or 63.79% up from the average. BlackRock, Inc. (NYSE:BLK) has declined 6.50% since August 26, 2018 and is downtrending. It has underperformed by 6.50% the S&P500.

Junto Capital Management Lp, which manages about $738.27M and $1.74B US Long portfolio, upped its stake in Netflix Inc (NASDAQ:NFLX) by 34,758 shares to 62,206 shares, valued at $22.18 million in 2019Q1, according to the filing. It also increased its holding in Home Depot Inc (NYSE:HD) by 44,257 shares in the quarter, for a total of 302,427 shares, and has risen its stake in E Trade Financial Corp (NASDAQ:ETFC).

Analysts await BlackRock, Inc. (NYSE:BLK) to report earnings on October, 15. They expect $7.09 earnings per share, down 5.72 % or $0.43 from last year’s $7.52 per share. BLK’s profit will be $1.10 billion for 14.36 P/E if the $7.09 EPS becomes a reality. After $6.41 actual earnings per share reported by BlackRock, Inc. for the previous quarter, Wall Street now forecasts 10.61 % EPS growth.

More notable recent BlackRock, Inc. (NYSE:BLK) news were published by: Seekingalpha.com which released: “Introducing Our DGI Portfolio: August Update – Seeking Alpha” on August 20, 2019, also Benzinga.com with their article: “Bond ETFs Are Big And Only Getting Bigger – Benzinga” published on July 30, 2019, Seekingalpha.com published: “BlackRock may invest in infrastructure in Israel – Seeking Alpha” on August 25, 2019. More interesting news about BlackRock, Inc. (NYSE:BLK) were released by: Bizjournals.com and their article: “BlackRock buys large stake in Sports Illustrated owner – New York Business Journal” published on August 12, 2019 as well as Businesswire.com‘s news article titled: “BlackRock Raises $2 Billion for Global Credit Opportunities Fund – Business Wire” with publication date: July 31, 2019.

BlackRock, Inc. (NYSE:BLK) Ratings Coverage

Among 4 analysts covering Blackrock Inc (NYSE:BLK), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Blackrock Inc has $55000 highest and $431 lowest target. $508.20’s average target is 24.79% above currents $407.25 stock price. Blackrock Inc had 8 analyst reports since March 14, 2019 according to SRatingsIntel. The firm has “Overweight” rating given on Wednesday, April 17 by Barclays Capital. The firm has “Buy” rating given on Thursday, March 14 by Barclays Capital. The firm has “Buy” rating given on Monday, April 15 by Citigroup. Deutsche Bank maintained it with “Hold” rating and $431 target in Friday, March 15 report. On Wednesday, April 17 the stock rating was maintained by Morgan Stanley with “Overweight”.

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Qualcomm INC Com (QCOM) Shareholder First Long Island Investors LLC Has Trimmed Its …

Investors sentiment increased to 0.77 in Q1 2019. Its up 0.04, from 0.73 in 2018Q4. It is positive, as 102 investors sold QCOM shares while 442 …

QUALCOMM Incorporated (NASDAQ:QCOM) LogoInvestors sentiment increased to 0.77 in Q1 2019. Its up 0.04, from 0.73 in 2018Q4. It is positive, as 102 investors sold QCOM shares while 442 reduced holdings. 93 funds opened positions while 324 raised stakes. 901.11 million shares or 10.19% less from 1.00 billion shares in 2018Q4 were reported. Old Dominion Cap, a Virginia-based fund reported 52,364 shares. First Manhattan Commerce reported 0.01% stake. Moreover, Ipg Advsrs Ltd has 0% invested in QUALCOMM Incorporated (NASDAQ:QCOM) for 91,781 shares. Hills Fincl Bank And Trust Co has 0.06% invested in QUALCOMM Incorporated (NASDAQ:QCOM). 5,800 were reported by Palladium Limited Liability Company. Parkside National Bank & Trust And stated it has 873 shares or 0.02% of all its holdings. Tradition reported 20,445 shares or 0.32% of all its holdings. Amer Money Ltd holds 0.91% or 28,790 shares. Richard Bernstein Advisors Limited Liability Company owns 54,636 shares for 0.1% of their portfolio. Cap Advsrs Limited Llc has 0.04% invested in QUALCOMM Incorporated (NASDAQ:QCOM) for 2,577 shares. Pittenger & Anderson accumulated 625 shares or 0% of the stock. Noesis Mangement Corp reported 0% stake. Oarsman Cap holds 27,541 shares or 0.75% of its portfolio. Synovus Financial stated it has 15,677 shares. Wesbanco National Bank accumulated 18,220 shares.

First Long Island Investors Llc decreased its stake in Qualcomm Inc Com (QCOM) by 25.15% based on its latest 2019Q1 regulatory filing with the SEC. First Long Island Investors Llc sold 70,449 shares as the company’s stock declined 15.29% . The hedge fund held 209,668 shares of the radio and television broadcasting and communications equipment company at the end of 2019Q1, valued at $11.96M, down from 280,117 at the end of the previous reported quarter. First Long Island Investors Llc who had been investing in Qualcomm Inc Com for a number of months, seems to be less bullish one the $89.38B market cap company. The stock decreased 4.71% or $3.63 during the last trading session, reaching $73.52. About 13.93 million shares traded or 16.42% up from the average. QUALCOMM Incorporated (NASDAQ:QCOM) has risen 17.92% since August 25, 2018 and is uptrending. It has outperformed by 17.92% the S&P500.

More notable recent QUALCOMM Incorporated (NASDAQ:QCOM) news were published by: Nasdaq.com which released: “Here’s Where You Buy Qualcomm Stock – Nasdaq” on July 03, 2019, also Nasdaq.com with their article: “Buy Qualcomm (QCOM) Stock Ahead of Q3 Earnings? – Nasdaq” published on July 30, 2019, Seekingalpha.com published: “Qualcomm names new board chairman – Seeking Alpha” on August 13, 2019. More interesting news about QUALCOMM Incorporated (NASDAQ:QCOM) were released by: Nasdaq.com and their article: “Qualcomm (QCOM) Dips More Than Broader Markets: What You Should Know – Nasdaq” published on July 25, 2019 as well as Nasdaq.com‘s news article titled: “After Hours Most Active for Aug 23, 2019 : CZR, GE, BAC, X, QQQ, T, KO, MSFT, AAPL, AMCR, QCOM, JD – Nasdaq” with publication date: August 23, 2019.

QUALCOMM Incorporated (NASDAQ:QCOM) Ratings Coverage

Among 10 analysts covering Qualcomm Inc (NASDAQ:QCOM), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Qualcomm Inc has $11500 highest and $57 lowest target. $83.09’s average target is 13.02% above currents $73.52 stock price. Qualcomm Inc had 30 analyst reports since February 26, 2019 according to SRatingsIntel. Barclays Capital maintained it with “Overweight” rating and $100 target in Wednesday, April 17 report. The firm has “Neutral” rating by Citigroup given on Thursday, May 2. The rating was maintained by Raymond James on Wednesday, April 17 with “Outperform”. The stock of QUALCOMM Incorporated (NASDAQ:QCOM) earned “Overweight” rating by Morgan Stanley on Tuesday, April 23. Canaccord Genuity maintained the stock with “Buy” rating in Wednesday, April 17 report. Barclays Capital maintained the stock with “Buy” rating in Wednesday, March 13 report. The stock of QUALCOMM Incorporated (NASDAQ:QCOM) has “Strong Buy” rating given on Thursday, May 2 by Raymond James. On Thursday, August 1 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm has “Neutral” rating given on Tuesday, April 30 by Bank of America. Barclays Capital maintained the stock with “Overweight” rating in Thursday, June 6 report.

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FTSE 100 marches higher, with Wall Street expected to join fun

… (LON:RIO) down amid falling base metals prices, and two general insurers, Admiral Group PLC (LON:ADM) and Direct Line Insurance (LON:DLG).
  • FTSE 100 closes higher

  • Sterling’s loss is Footsie’s gain

  • All eyes on Fed minutes

FTSE 100 closed higher midweek as traders awaited the publications minutes from last month’s US Federal Reserve meeting.

Traders hope the tone from the US monetary policy committee meeting will be towards a further easing of interest rates, rather than a tightening of policy, which is making dealers buy up shares.

“In late July, the Fed cut rates, and dealers are banking on dovish language in the report, which might signal further rate cuts this year,” noted David Madden, analyst at London-based CMC Markets.

“Since the rate cut, the global macroeconomic mood has soured – US-China trade tensions, the UK and Germany saw negative growth, and increased unrest in Hong Kong,” he added.

The UK’s premier share index finished up 78.97 points at 7,203.97. Meanwhile, the more UK company focused FTSE 250 added 199.66 points at 19,207.75 as no-deal Brexit fears were apparently pushed aside.

On currency markets, the pound lost 0.22% against the US dollar further supporting the internationally-focused Footsie, while the gold price was near flat at US$1,513 an ounce.

3.25pm: Markets upbeat

US stocks have joined in with global markets’ good mood, with retailers Target Corporation and Lowe’s Co leading the way after they reported earnings.

The Dow Jones climbed 222 points or 0.9% to 26,186, while the S&P 500 index was up 0.8% and the Nasdaq Composite gained 0.9%.

With market watchers fretting about a possible recession, the retail pair both reported strong consumer demand.

Target shares surged 19% to an all-time high above $101 after second-quarter results from the discounter topped analyst expectations, with same-store sales growing 3.4% compared to the 2.9% expected.

Home improvement chain Lowe’s jumped 11% to $108.43 as it beat the Street’s estimates on revenue, same-store sales and earnings.

“We capitalized on spring demand, strong holiday event execution and growth in paint and our pro business to deliver strong second quarter results,” said chief executive Marvin Ellison, who has been at the company just over a year ago.

Meanwhile, in Brexitland, the pound lurched to day’s lows as newswires AFP and Bloomberg reported that the French government is expecting a no-deal Brexit as the “most likely scenario”, which would result in the immediate imposition of controls on the EU’s borders with Britain.

Sterling was down 0.4% against the dollar at 1.2119 and the euro at 1.0920, while the FTSE 100 was up 1.2% to just over 7,207

Boris Johnson’s Paris visit tomorrow heating up:

Emmanuel Macron aide tells AFP no deal ‘is becoming most likely scenario’

The aide insists that Britain will still have to pay £39bn Brexit divorce bill

‘The idea of saying there’s not a deal so I won’t pay does not work’

— Steven Swinford (@Steven_Swinford) August 21, 2019

2pm: European stocks in the green

There is a focus on Europe today as Boris Johnson heads off to talk Brexit with German premier Angela Merkel, while Germany’s bond sale hits a bum note and Italy reacts to the resignation of prime minister Giuseppe Conte.

After Conte quit and fired off a few epithets at his coalition partners, markets welcomed the populist partnership’s almost-certain end.

Italy’s FTSE MIB is the strongest gainer among the European indices, up 1.9%, while London’s FTSE 100 was up 1.2% at 7,212.

As Germany prepares to welcome the British PM, the country’s central bank created an unwanted record by selling the first ever 30-year government bonds with a zero coupon, which due to the price paid actually will have a negative yield of -0.11%.

READ: Why might investors buy negative yield government bonds?

Merkel meanwhile said in a speech that the talks with Johnson will cover “how we can get the most friction-free British exit from the European Union possible as we must fight for our economic growth”.

Analysts at Monex Europe said: “The chances of a breakthrough seem slim, but given Boris yesterday hinted at Britain being willing to make ‘commitments’, and Merkel said that the Irish backstop could be bypassed by a practical solution, there is at least a glimmer of hope for good news.”

The pound was having none of it, still down 0.3% versus the dollar at 1.2137, with tweeted efforts from the White House not moving the dial either, with the negative German debt further enraging President Trump.

…..We are competing with many countries that have a far lower interest rate, and we should be lower than them. Yesterday, “highest Dollar in U.S.History.” No inflation. Wake up Federal Reserve. Such growth potential, almost like never before!

— Donald J. Trump (@realDonaldTrump) August 21, 2019

1.45pm: Experian gets acquisition boost

Among the top blue chips today are credit checker Experian PLC (LON:EXPN), up 2% as it acquired Look Who’s Charging (LWC), an Australian outfit providing nifty technology to the banking sector.

This technology helps with “transaction enrichment and categorisation”, which the London-listed company says is designed to “make banking smoother and more straightforward for bank customers”.

Simply put, LWC shows small businesses and consumers who’s who on their bank statements, rather than a random list of numbers.

Capita PLC (LON:CPI) is also up 2% after it was upgraded to ‘buy’ from ‘neutral’ at Goldman Sachs.

Other broker action saw Victrex PLC (LON:VCT) upgraded to ‘equalweight’ by Barclays as analysts see 20% upside risk to consensus estimates on earnings per share, while Tullow Oil plc (LON:TLW) was lifted by an upgrade to ‘buy’ at Canaccord Genuity.

12.25pm: Wall Street expected to join market march higher

Wall Street is tipped to join in the market merry-making on Wednesday, while the FTSE 100 continues to inch higher.

On futures markets, the Dow Jones is pencilled in for an 0.6% gain to just over 26,000, with the S&P 500 seen adding 0.7% and the Nasdaq Composite best of all at 0.8%.

Nerves about a US recession look to have settled a little after last week’s panic, says market analyst Craig Erlam at Oanda.

“Now that everyone is an expert in inverted yield curves and the apocalyptic foresight they contain, there seems to be an odd acceptance of where we’re heading (or is it denial?)”

Another day spent waiting for that special yield curve to invert. #drumsfingers

— Chris Beauchamp (@ChrisB_IG) August 21, 2019

“The Fed will be all too aware of the events of the last week, not just because of its historic significance, but because investors are now relying on them even more heavily to save the day,” Erlam said.

“Markets are effectively pricing in a rate cut every remaining meeting this year. Are investors setting themselves up for disappointment or leaving the Fed with little choice but to follow?

“Clearly Powell can’t afford to get it wrong on Friday because any signal that markets are way off the mark will likely cause further mayhem, not to mention a backlash from the White House.”

While minutes of the most recent Fed meeting are due later today, Erlam said recent events might make them rather outdated.

Back in London, the FTSE is up 80 points or 1.1% at 7,205.28, as the pound softens further, down 0.3% against the greenback at $1.2130.

10.30am: Gains extended as TUI leads the way

London stocks have continued to rally on Wednesday morning, with news of a smaller than expected UK budget surplus unlikely to be providing the catalyst.

The Office for National Statistics revealed that July saw a small surplus of £1.32bn compared to £3.56bn a year earlier.

Public sector net borrowing, excluding banks, is up 60% year over year in the first four months of the fiscal year at £16bn.

“The small surplus in July’s public finances wasn’t enough to make up for the jump in borrowing since the start of the financial year and means that government borrowing still looks like it will overshoot the OBRs forecast,” said Capital Economics.

Economist Tom Pugh said it was likely that government borrowing will continue to overshoot the Office for Budget Responsibility’s forecast over the next few months as the government ramps up spending on preparations for a no deal Brexit, while a change in accounting approach will raise the deficit by more than £10bn a year.

Among the biggest share price movers in the upper FTSE echelons, tour operator TUI AG (LON:TUI) was flying highest, up 4% to 791.6p.

Research by UBS showed all the airlines showed more deterioration than expected in their most recent customer review scores, nut with TUI showing the highest score among 20 airlines.

Elsewhere, dollar earners were doing well in general as the pound softened another 0.2% against the dollar to 1.2141, with leaders including Smurfit Kappa Group Plc (LON:SKG), Burberry Group PLC (LON:NRBY) and Rolls-Royce Holdings PLC (LON:RR.).

The FTSE 100 was up 75 points or 1.05% to 7,199.81, with only five stocks in the red, with miners BHP Group PLC (LON:BHP) and Rio Tinto PLC (LON:RIO) down amid falling base metals prices, and two general insurers, Admiral Group PLC (LON:ADM) and Direct Line Insurance (LON:DLG).

8.52am: Stronger start than expected

The FTSE 100 got off to a stronger than expected start, rising 31 points to 7,155.74.

Sentiment for the coming days could be shaped by the US Federal Reserve minutes out after hours London time.

Ahead of their publication trading volumes in the dealing rooms of the Square Mile are likely to remain subdued.

Gold, a haven investment in times of uncertainty, continued to hold firm above US$1,500 an ounce, reflecting the nerves of the market.

The pound was steady at US$1.2153 with forex traders buoyed by comments by German chancellor Angela Merkel stating the EU would look at “sensible” suggestions for solving the UK-Ireland border issue.

Turing to the stock market, construction group Costain (LON:COST) led the All-Share with a 12.6% rise.

This after its profits crumbled. It appears, however, the carnage wasn’t quite as bad as the market had been anticipating.

Nostrum Oil & Gas (LON:NOG) was the day’s big loser as it tanked 20% after Berenberg slashed its target price and downgraded the shares to ‘sell’.

READ: Nostrum gets bloody nose after Berenberg double-downgrade

6.30am: FTSE 100 set to open a “touch higher”

The FTSE 100 is expected to open a touch higher on Wednesday as investors seemed content to stay put while awaiting possible direction from Fed minutes due later.

Spread-betting firm IG expects the FTSE 100 to open about 4 points higher after the index closed 64 points lower at 7,125 on Tuesday.

Fears of a recession have been mixed with hopes of renewed fiscal and economic stimulus by national governments to counter the slowdown, with US President Donald Trump recently floating the idea of tax cuts while the German government is seemingly considering a bond sale.

Traders will also be looking to the minutes from the Federal Reserve’s previous policy meeting in June, when it cut interest rates for the first time since 2008, to gauge the possibility of further cuts this year.

This will also be in focus ahead of the Fed’s annual Jackson Hole seminar later this week, which will provide further clues on how the central bank plans to boost growth.

The gloomy mood around a recession weighed on US markets overnight, with the Dow Jones ending Tuesday 0.66% lower at 25,962 while the S&P 500 fell 0.79% to 2,900 and the Nasdaq dropped 0.68% to 7,948.

The pessimism continued into the Asian markets on Wednesday, with the Japanese Nikkei 225 down 0.3%, although Hong Kong’s Hang Seng bucked the trend slightly and was up 0.11%.

On the currency markets, the pound slipped 0.12% to US$1.2154 against the dollar and was also down 0.05% at €1.0955 against the euro amid ongoing doubts that Boris Johnson will be able to extract any concessions from major EU leaders when he visits Berlin and Paris this week.

Quiet day for company news

Wednesday looks like being another quiet one in the Square Mile, with only a handful of companies known to be releasing news, while there is also some relatively small-time data due.

One of the few set to report is industrial REIT, Hansteen Holdings plc (LON:HSTN), which is due to post its half-year numbers.

Significant events expected on Wednesday August 21:

Interims:Charter Court PLC (LON:CCFS), Costain PLC (LON:COST), Empresaria Group plc (LON:EMR), Hansteen Holdings plc (LON:HSTN)

Economic data: UK public sector net borrowing, US existing home sales, MBA US mortgage applications, US crude oil inventories

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AE Wealth Management LLC Has $796000 Position in Canadian Imperial Bank of Commerce …

Millennium Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately …

Canadian Imperial Bank of Commerce logoAE Wealth Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 73.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,129 shares of the bank’s stock after acquiring an additional 4,273 shares during the quarter. AE Wealth Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CM. Macquarie Group Ltd. lifted its stake in Canadian Imperial Bank of Commerce by 5.5% during the fourth quarter. Macquarie Group Ltd. now owns 7,810 shares of the bank’s stock valued at $583,000 after buying an additional 410 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $322,000. Advisory Services Network LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 108.0% in the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after purchasing an additional 230 shares in the last quarter. Townsend & Associates Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 1.4% in the first quarter. Townsend & Associates Inc now owns 24,322 shares of the bank’s stock worth $1,923,000 after purchasing an additional 332 shares in the last quarter. Finally, Addenda Capital Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 2.4% in the first quarter. Addenda Capital Inc. now owns 46,640 shares of the bank’s stock worth $3,736,000 after purchasing an additional 1,110 shares in the last quarter. 45.12% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Canaccord Genuity lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. BMO Capital Markets reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 23rd. Barclays lowered shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $120.00.

CM traded down $0.80 during midday trading on Tuesday, hitting $74.16. 356,363 shares of the company’s stock traded hands, compared to its average volume of 391,503. The company has a market cap of $33.20 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 7.87 and a beta of 1.17. The stock’s fifty day simple moving average is $77.63 and its 200-day simple moving average is $80.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $72.96 and a one year high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.75. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. During the same quarter last year, the firm earned $2.95 earnings per share. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 9.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend was Thursday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 44.33%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Recommended Story: Hold Rating

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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