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Stock Rally Could Persist, JPMorgan Quant Says
On the heels of the busiest week of the Q2 earnings season, JPMorgan Chase & Co.’s equity quant said that U.S. stocks could continue to rally despite a decline in corporate profits. Marko Kolanovic, the quantitative analyst whose team predicted the summer rebound and has been bullish on stocks for months.
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Rival European Satellite Companies Merge in $3.4 Billion Deal
European satellite operator Eutelstat will combine with U.K. rival OneWeb in an all-stock merger valued at $3.4 billion, according to a press statement issued in July. Eutelstat will issue 230 million new shares and exchange them for the remaining OneWeb shares...
Venerable Prosthetics Maker Hanger to Go Private in $1.25B Deal
After several decades as a publicly-traded company on the New York Stock Exchange, century-old prosthetics maker Hanger will go private in a $1.25 billion acquisition. Patient Square Capital, a Silicon Valley healthcare investment firm, has agreed to pay $18.75 per share in cash for the company...
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Some Signs Indicate Supply Chain Easing
Though supply chain snags continue, some indicators point to possible improvements in the global transport of goods. The Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (GSCPI), a combination of transportation cost data and manufacturing indicators used to assess supply chain status, fell between April and June...
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Supply Chains May Move Closer to Home – And Allies –...
If given the choice, many people would opt to do business with neighbors and friends rather than distant strangers. The world economy may be following such personal preference, if Morgan Stanley analysts are correct...
Credit Suisse Executives Leave for Other Banks
Credit Suisse senior staff have found their way to other investment banks recently, marking a draining of the troops at the beleaguered firm. Amid sinking revenues, sequential quarter losses, and rumors of more job cuts, Credit Suisse executives have departed for less turbulent waters...
D.C. Business Publisher Industry Dive to be Acquired by Informa for...
Business media company Industry Dive has signed an agreement to be sold to U.K. events and publishing outfit Informa for an enterprise value of $525 million, a source close to the deal told Axios. Informa confirmed the deal on its website...
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Decarbonization Leader Monolith Raises $300 Million
Monolith, an innovator in global decarbonization, has raised more than $300 million in its latest investment round, which was led by TPG Rise Climate and Decarbonization Partners, a partnership between BlackRock and Temasek. NextEra Energy Resources, SK, Mitsubishi Heavy Industries America, and Azimuth Capital Management provided additional funding...
Investors Are Pessimistic, BofA Survey Says
Investors reduced exposure to risk assets in an economic climate described as “dire,” according to a July Bank of America survey of 259 chief investment officers, asset allocators, and portfolio managers. Allocation to stocks fell to 2008 levels, and exposure to cash jumped to a 20-year high, the monthly survey of fund managers revealed...
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U.S. Will Avoid Recession, Some Wall Streeters Say
Not so fast, some analysts are saying. The U.S. may duck a recession. Despite how many Americans are feeling when they go to the store or buy gas, some investors and economists are more optimistic about the country’s economic forecast...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...