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What you need to know about bank stocks right now

  • What you need to know about bank stocks right now What you need to know about bank stocks right now 2:01
    Pushing the Boundaries With Tech Innovation Pushing the Boundaries With Tech Innovation 29:49
    The Future of Payments The Future of Payments 28:37
    How to get quick access to cash during the pandemic How to get quick access to cash during the pandemic 3:18
11:44 a.m. Today - By Philip van Doorn
Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says Michael Cuggino of the Permanent Portfolio makes the case that gold is still relatively cheap, despite its 35% increase this yearMichael Cuggino of the Permanent Portfolio makes the case that gold is still relatively cheap, despite its 35% increase this year.
9:42 a.m. Today - By Ciara Linnane
Coronavirus update: U.S. case tally climbs above 4.8 million as Trump contradicts health experts to claim virus will ‘go away’ ‘Anyone can open a school in a pandemic; keeping them open is going to be the challenge,’ says former CDC head Tom FriedenThe number of confirmed cases of the coronavirus that causes COVID-19 in the U.S. rose above 4.8 million on Thursday, a day after President Donald Trump again said the virus would just “go away,” while one of his leading health-care experts said the virus is unlikely to be under control until late 2021.
9:12 a.m. Today - By Jeffry Bartash
Economists predict U.S. added 1.7 million jobs in July, but admit it’s largely a guess. Here’s what worries them Wall Street braces for poor July jobs report after coronavirus spike The U.S. economy probably suffered a steep decline in hiring and job creation in July, but rarely has Wall Street been so flummoxed about the state of the labor market. The resurgence of the coronavirus and a potentially big shift in school employment could throw the numbers out of whack.
9:11 a.m. Today - Barrons.com
Boeing Just Got a Warning About a Credit Downgrade. Its Bonds Are Already Trading Like Junk. The aircraft company is now rated at BBB-, the lowest tier in investment grade.
8:58 a.m. Today - By Quentin Fottrell
When will I receive my FIRST stimulus check? ‘We, the qualifying taxpayers, should not have to suffer’ ‘I was the supervisor of the department that processed and reconciled parking citations. Since mid-March, the number of parking citations drastically fell due to the coronavirus pandemic’‘I was the supervisor of the department that processed and reconciled parking citations. Since mid-March, the number of parking citations drastically fell due to the coronavirus pandemic.’
8:36 a.m. Today - MarketWatch.com
U.K. stocks fall as mining giant Glencore scraps dividend and the pound climbs U.K. stocks were led lower on Thursday, as mining giant Glencore cut its dividend and the Bank of England warned the economic recovery would be slower than anticipated.
8:31 a.m. Today - Barrons.com
Kodak Caught a Huge Break. Its Fall Was Spectacular, Too. The stock’s recent gains have been eye popping, propelled by a new business. But the company still isn’t near what it once was.
8:30 a.m. Today - MarketWatch.com
European stocks close lower as the Bank of England dents economic recovery hopesEuropean stocks edged lower on Thursday, as the Bank of England warned of a slower economic recovery from the COVID-19 crisis and investors digested a raft of earnings.
8:01 a.m. Today - By Silvia Ascarelli
I want to retire in Texas and near freshwater on $4,000 a month — where should I go? Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.comHere are three suggestions that fit the bill.
7:51 a.m. Today - By Michael Ashbaugh
Charting a slow-motion August breakout, Nasdaq tags 11,000 mark Focus: Industrials reclaim 200-day average, Metals & Mining sector extends technical breakout, XLI, XME, UNH, MA, KSU, WSMU.S. stocks are slightly lower early Thursday, largely treading water after better-than-feared weekly jobless claims, and ahead of the marquee monthly U.S. jobs report, due out Friday. Against this backdrop, the Nasdaq Composite has briefly tagged its latest record high — atop the 11,000 mark — while the S&P 500 continues to press next resistance (3,328).
7:45 a.m. Today - By Jillian Berman
Borrowers are still having their paychecks seized over defaulted student loans, even though the CARES Act was supposed to stop wage garnishment, lawsuit saysThe CARES Act was supposed to halt wage garnishment for defaulted student-loan borrowers, but a lawsuit says it's still happening.
7:44 a.m. Today - Barrons.com
Norwegian Shares Rise as People Continue to Book Cruises As of June 30, the company had $1.2 billion of advanced ticket sales, including the future cruise credits.
7:27 a.m. Today - By Tomi Kilgore
Quicken Loans parent Rocket Companies stock's debut falls flat, after downsized IPO price below expectationsQuicken Loans parent Rocket Companies Inc.'s stock public debut fell flat, after the downsized initial public offering priced below its expected range. The stock's first trade on the New York Stock Exchange was at $18.00 at a.m. Eastern for 12.45 million shares, in line with the IPO price. It the fell to a low of $17.50 before bouncing to trade up 1.1%. The company said late Wednesday that it sold 100 million shares in the IPO, which priced at $18 a share, to raise $1.8 billion. Just last week, the company said it was offering 150 million shares in the IPO, which was expected to price between $20 and $22 a share, which could've raised up to $3.3 billion for the company. The disappointing IPO pricing came at a good time for the IPO market, as the Renaissance IPO ETF has rallied 47.6% over the past three months, while the S&P 500 has advanced 16.6%.
7:01 a.m. Today - By Andrew Keshner
Should I have gotten my stimulus check by now? Why some people are still waiting — and what to do about it Next week, an IRS watchdog agency will help track down stimulus payments for taxpayers facing certain scenariosNext week, an IRS watchdog agency will help track down stimulus payments for taxpayers facing certain scenarios.
6:49 a.m. Today - By Philip van Doorn
20 stocks that investors hate but Wall Street loves as the S&P 500 nears a record high The rally for U.S. stocks from the March bottom has been remarkable, but most S&P 500 stocks are down for 2020The rally for U.S. stocks from the March bottom has been remarkable, but most S&P 500 stocks are down for 2020.
6:49 a.m. Today - By Philip van Doorn
This $20 billion bond fund produced outsized returns by capitalizing on market turmoil, and is set to do it again Anne Walsh of Guggenheim Investments explains her strategy in a difficult environment for income investorsAnne Walsh of Guggenheim Investments explains her strategy in a difficult environment for income investors.
6:44 a.m. Today - By Jacob Passy
Landlords must notify tenants about eviction proceedings in multi-family buildings, housing regulator says The Federal Housing Finance Agency is also improving online tools where tenants can see whether they’re eligible for protectionsThe Federal Housing Finance Agency is also improving online tools where tenants can see whether they’re eligible for protections.
6:20 a.m. Today - By Jacob Passy
Mortgage rates fall to a record low for the eighth time this year, making buying a home more affordable for many Americans While home buyers may have plenty of options for cheap financing, they won’t have much choice about what properties they can purchaseWhile home buyers may have plenty of options for cheap financing, they won’t have much choice about what properties they can purchase.
5:59 a.m. Today - Barrons.com
Lufthansa Books Worst Loss in History, Says Air Travel Will Take 4 Years To Recover Europe’s second-largest airline, Lufthansa reported a €1.5 billion net loss for the three months to June, compared with a €226 million net profit a year earlier, as passenger numbers fell 96%.
4:55 a.m. Today - Barrons.com
Here’s How Congress Could Cripple a Faltering Recovery Failure to approve major aid to state and localities could hit GDP much more than the end of $600 weekly jobless checks.
3:51 a.m. Today - Barrons.com
Rocket Mortgage Just Priced Its IPO Rocket Companies, the parent of Rocket Mortgage and Quicken Loans, will raise $1.8 billion in one of the biggest IPOs of the year so far. It’s an enormous disappointment.
3:41 a.m. Today - Barrons.com
Barron’s Daily: Bezos Sells Amazon Stock and Raises $3 Billion. That’s Nothing. Trump and Biden change their convention plans (again), first top-level college sports team cancels 2020 season, drugmakers sign deals for vaccines, and other news to start your day.
3:35 a.m. Today - By Tonya Garcia
Shares of Wrangler parent Kontoor Brands rise after revenue beats expectationsKontoor Brands Inc. shares rose 3.5% in Thursday premarket trading after the denim company reported second-quarter revenue that exceeded expectations. Net losses totaled $33.3 million, or 58 cents per share, after net income of $38.0 million, or 67 cents per share, last year. Adjusted loss per share of 22 cents was ahead of the FactSet consensus for a loss of 40 cents per share. Revenue of $349.3 million was down from $609.7 million last year but well ahead of the FactSet consensus for $292 million. Revenue fell due to COVID-19-related wholesale retail closures and a shift of shipments totaling $33 million from the second quarter to the third quarter. Wrangler revenue fell 31% to $252 million while Lee revenue sank 58% to $86 million. At the end of the quarter, Kontoor had $256 million in cash and equivalents, and $1.1 billion in long-term debt. As of June 2020, the company had $225 million of outstanding borrowings from its credit revolver with $273 million available. Kontoor shares have slumped 49.4% for the year to date while the S&P 500 index has gained 3% for the period.
Camping World stock price target raised to $27 from $12 at Credit Suisse
2:20 a.m. Today
2:14 a.m. Today - By Jeremy C. Owens
Disney has ‘built a big enough life raft’ with streaming changes, analysts say as stock enjoys best day in months Disney shares gain 8.8% in best day since March after earnings include news of new approach for ‘Mulan,’ international streaming optionWalt Disney Co.’s shares spiked to gains of 10% and more Wednesday, after analysts focused more on the media titan’s new plans for streaming than financial results that were destroyed by the COVID-19 pandemic.
1:44 a.m. Today - By Jacob Passy
The number of Americans skipping mortgage payments is falling — except among these borrowers Forbearance plans allow mortgage borrowers to make reduced payments or skip monthly paymentsForbearance plans allow mortgage borrowers to make reduced payments or skip monthly payments.
1:30 a.m. Today - Barrons.com
Do I Need to Pay Taxes on My Stimulus Check? Under the Cares Act, the stimulus checks are treated as a fully refundable tax credit for 2020, which means it isn’t included in gross income and thereby isn’t subject to taxes.
1:23 a.m. Today - By Elisabeth Buchwald
Going cashless during the COVID pandemic makes life even more difficult for the 14 million unbanked AmericansThe pandemic has businesses shifting away from cash to 'touchless transactions.' What does that mean for America's 'unbanked,' people who don't have bank accounts?
1:04 a.m. Today - By Sara Rathner
Is it OK if I never have any credit card at all? Here are some ways to establish and build good credit even if you shun the credit cardThere are other ways to establish credit—and keep your credit scores high—that don’t involve a credit card.
1:01 a.m. Today - By Erin El Issa
Women and credit: In the 2000s, the fight against pay discrimination continues The decade gained 13 female CEOs of Fortune 500 companiesThis series examines the financial progress made by women in the U.S. since the Equal Credit Opportunity Act was passed in 1974.
10:37 p.m. Aug. 5, 2020 - MarketWatch
UniCredit profit drops on rising provisionsUniCredit SpA's provisions for bad loans rose by almost a third in the second quarter while revenue declined, but net profit surpassed analysts' expectations. In the second quarter, the bank set aside 937 million euros ($1.11 billion) for credit losses, up from the EUR707 million it had stowed away a year earlier.
10:33 p.m. Aug. 5, 2020 - MarketWatch
Lebanon bonds steady after deadly explosionThe deadly explosion that devastated Beirut left investors grappling with the potential damage to an economy already ravaged by crisis. The blast in the capital port of Lebanon killed at least 100 people and injured thousands, marking the latest hardship to the Middle Eastern state, which defaulted on its debt in March and is struggling to save its economy from financial collapse.
7:33 p.m. Aug. 5, 2020 - MarketWatch
Brazil central bank cuts key rate to record lowSÃO PAULO--Brazil's central bank cut its key Selic lending rate to a record low Wednesday and left the door open for more cuts, as the outlook for inflation remains below target amid the impact of the coronavirus pandemic on the economy.
7:08 p.m. Aug. 5, 2020 - By Orla McCaffrey
Quicken Loans parent Rocket Cos. prices IPO at $18 a share Price lower than expected as pandemic has weighed on IPO marketThe country’s top mortgage lender late Wednesday priced its IPO below expectations at $18 a share.
6:23 p.m. Aug. 5, 2020 - By Jacob Passy
Quicken Loans is going public: 5 things to know about the mortgage lender Quicken has been the largest mortgage lender in the U.S. since 2018Quicken has been the largest mortgage lender in the U.S. since 2018.
4:06 p.m. Aug. 5, 2020 - By Mike Murphy
Manhattan prosecutors have subpoenaed Deutsche Bank in Trump probe: reportManhattan prosecutors who are seeking President Donald Trump's tax returns as part of a criminal probe into the Trump Organization have subpoenaed Deutsche Bank AG , Trump's longtime lender, Wednesday. That could indicate a wider investigation into Trump's business practices. Last year, the Manhattan district attorney's office subpoenaed Trump's bank records dating back to the 1990s, the Times reported, adding that the bank had complied with the subpoena. Deutsche Bank has lent Trump and his company about $2 billion over the past two decades, the Times said. Earlier this week, the Manhattan D.A.'s office disclosed it was investigating
1:58 p.m. Aug. 5, 2020 - By Claudia Assis
Potbelly stock rallies after company's cash burn moderatesShares of Potbelly Corp. rallied 10% in the extended session Wednesday after the restaurant chain selling sandwiches and other items reported a wider second-quarter loss but said its same-store sales improved toward the end of the quarter and that it now expects to have to permanently close fewer restaurants. Its weekly cash burn also trended lower throughout the quarter and is down about 75% from the early weeks of the pandemic, the company said. Potbelly said it lost $22.2 million, or 93 cents a share, in the quarter, compared with a net loss of $1.9 million, or 8 cents a share, in the year-ago period. Adjusted for one-time items, Potbelly lost 63 cents a share, compared with a loss of less than a penny a year ago. Revenues fell to $56.2 million from $105.6 million. Analysts polled by FactSet had expected an adjusted loss of 46 cents a share on sales of $65 million. Same-store sales "steadily improved throughout the quarter," from a late March low of down 68%, to a decline in the mid-20% range for June, the company said. Potbelly had $29.1 million in cash and kept $16.7 million available under a revolving credit facility, it said. Its total liquidity was $45.8 million, flat compared with $45.8 million at the end of the first quarter. Potbelly said it "continues to have constructive discussions" with landlords, resulting in 16 permanent shop closures and 187 leases renegotiated as of early August. It now expects to have to permanently close fewer than 50 stores, compared to up to 100 as it previously expected, the company said. Shares of Potbelly ended the regular trading session down 4.5%.
12:59 p.m. Aug. 5, 2020 - Barrons.com
Square’s Big Bitcoin Haul Is Good for Square but Better for Bitcoin Volume on its Cash app was bolstered by customers investing in Bitcoin.
12:41 p.m. Aug. 5, 2020 - Barrons.com
Blackstone Group is Buying Ancestry for $4.7B Blackstone will become the latest private-equity firm to own Ancestry, a provider of digital family history services.
12:26 p.m. Aug. 5, 2020 - By MarketWatch Automation
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