The US Treasury market is experiencing significant challenges, highlighted by a notable increase in the term premium on 10-year Treasury notes. This premium, which reflects the additional yield investors seek for holding longer-term debt over shorter-term securities, has risen from near zero to just under a quarter point this month, marking its highest level since last November. As yields surge, this trend signals escalating risks within the bond market.
Jefferies Financial Group Inc. and Truist Financial Corp. are gaining traction in the competitive municipal bond market, capitalizing on the retreat of larger banks like Citigroup Inc. This year, Jefferies has climbed to third place among competitive managers, up from twelfth three years ago, while Truist has risen to seventh after securing over three dozen deals.
Centene has filed a lawsuit against the Centers for Medicare & Medicaid Services (CMS) over the 2025 star ratings, claiming that a miscategorized secret shopper call unfairly impacted their scores. The insurer argues that the call failure was due to CMS's software, not their service, and estimates a $73 million revenue loss from the rating drop. This legal action follows similar lawsuits from other insurers like UnitedHealth and Humana, highlighting ongoing disputes over the fairness of CMS's scoring system.
Apple has reduced its iPhone 16 orders by 10 million units, primarily affecting the standard model rather than the Pro versions, leading to a production estimate of 84 million units for the second half of 2024. Analyst Ming-Chi Kuo forecasts a decline in iPhone revenues in the first half of 2025 due to lower shipments and a less favorable product mix, coinciding with the anticipated launch of the iPhone SE 4. Despite these challenges, Kuo remains optimistic about Apple's potential in on-device AI, which is set to debut in an upcoming iOS update.
trivago's stock (NASDAQ: TRVG) has received a new price target of $1.95 from UBS Group, down from $2.25, maintaining a "neutral" rating. Analysts have mixed opinions, with three holding and two giving a buy rating, while the consensus price target stands at $2.68. The company reported earnings of ($0.01) per share, matching expectations, with revenue of $127.62 million for the quarter.
18:42 23.10.2024
Pittenger & Anderson Inc. increased its stake in Verizon Communications by 50.4%, now holding 883 shares valued at $37,000. Analysts have mixed ratings on the stock, with a consensus "Moderate Buy" and an average price target of $46.37. Verizon reported a slight revenue increase, with earnings per share of $1.19, beating estimates.
18:42 23.10.2024
Insider Gonzalo Uribe sold 1,780 shares of Kimberly-Clark at $140.84 each, totaling $250,695.20, while Jeffrey P. Melucci sold 37,699 shares at $141.42, amounting to $5,331,392.58. Following these transactions, insiders own 0.62% of the company, with hedge funds holding 76.29%. Analysts have set a new price target of $151.00 for the stock, which is currently rated as "Hold."
18:42 23.10.2024
Tutor Perini's stock price target was raised by UBS Group from $27 to $39, indicating a potential upside of 38.45%. Despite a "Buy" rating, the company is not among the top stock picks recommended by analysts. Recently, Tutor Perini reported a quarterly EPS of $0.02, missing estimates, with revenue of $1.13 billion, a 10.4% increase year-over-year.
18:42 23.10.2024
Global public debt is projected to exceed $100 trillion by the end of 2024, with the U.S. and China significantly contributing to this rise. The IMF warns of an "optimism bias" in government debt calculations, highlighting a fiscal policy trilemma faced by nations, particularly in sub-Saharan Africa, where the need for spending clashes with limited tax capabilities. Unsustainable debt levels could trigger market sell-offs, affecting borrowing costs globally, as evidenced by the U.S. budget deficit reaching $1.833 trillion, the highest outside the pandemic era.
Apollo Global Management has begun the process to sell a majority stake in Clix Capital, a non-banking finance company it has held for eight years. The firm is open to offering 51% control, with the final stake depending on valuations and buyer interest. Co-founders Pramod Bhasin and Anil Chawla, who hold a combined 15% stake, will also consider any potential stake dilution based on deal pricing.
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