financebanking
Robinhood Markets Inc (NASDAQ: HOOD) is flying high on Friday after a Bank of America analyst issued a super bullish note in its favour. Robinhood stock could gain another 22%Craig Siegenthaler doubled upgraded the financial technology company this morning to “buy” and said its shares could climb to $24 which suggests another 22% upside from here. The analyst is positive on Robinhood stock as he expects retail activity to remain strong moving forward. His research note reads: Following the emergence of a new bull market last year, we have monitored a rebound in multiple metrics at Robinhood Ma...
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The Bank of America Corporation (BofA) is set to purchase Washington Federal Bank’s portfolio of commercial multi-family real estate loans, valued at $3.2 billion. The announcement was made by Washington Federal, Inc. (WaFd), the parent company of Washington Federal Bank, in a regulatory filing on Friday. BoFA’s deal with Washington Federal BankAccording to the filing, BofA has agreed “to purchase approximately 2,000 commercial multi-family real estate loans with a current aggregate unpaid principal balance of $3.2 billion.” This significant acquisition marks a strategic move by BofA to expand...
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In a noteworthy display of confidence in Nu Holdings Ltd (NYSE:NU), both SoftBank Group and the Saudi Arabia sovereign wealth fund made strategic moves in the first quarter of 2024. While SoftBank Group increased its equity stake in Nu Holdings from 22.0 million shares to 23.3 million shares, the Saudi Arabia sovereign wealth fund initiated a new position in the company, acquiring 1.18 million class A ordinary shares. These transactions, disclosed in regulatory filings on May 15, 2024, underscore the growing interest of institutional investors in the Brazil-based digital banking platform. Esta...
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Insurance major Chubb Limited (NYSE:CB) is in the spotlight today, thanks to Warren Buffett’s Berkshire Hathaway unveiling a substantial $6.72 billion stake in the insurance giant. Berkshire’s move has further elevated Chubb’s profile. With Chubb hitting record highs in after-hours trading following the disclosure, it’s evident that the market perceives this development as a vote of confidence from one of the most respected investors of our time. Chubb’s allure as an investment prospect stems not only from the Berkshire endorsement but also from its robust business fundamentals. The insurer ha...
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Mastercard (NYSE: MA) and Standard Chartered Bank Hong Kong (SCBHK) have successfully completed the first live test of tokenised deposits using blockchain technology within Hong Kong’s fintech sandbox. This initiative marks a significant step forward in exploring the potential of blockchain in revolutionising banking transactions and asset management. Tokenised deposits using Mastercard’s Multi-Token NetworkThe successful execution of tokenized deposits highlights the growing synergy between traditional banking institutions and cutting-edge fintech solutions. Through the Mastercard Multi-Token...
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Nu Holdings Ltd (NYSE: NU) saw its revenue climb a whopping 64% in Q1. Still, David Velez – its chief executive is convinced the company has massive room for growth moving forward. Nu Holdings CEO on Q1 earningsThe online bank added 5.5 million customers to hit the 100 million mark in its first quarter. Still, CEO Velez said on CNBC’s “Squawk Box” today: Disruptors in fintech have taken less than 1.0% of the market cap. So, that story is very much in the early beginnings and is a real structural opportunity that exists globally. Nubank ended its recently concluded quarter with $24.3 billion in...
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Robinhood Markets Inc (NASDAQ: HOOD) has gained a whopping 70% over the past three months but a Mizuho analyst is convinced it could extend the rally further in the coming months. Here’s why Robinhood stock is worth buyingDan Dolev reiterated his “buy” rating on $HOOD this morning after the financial services company reported quarterly earnings that were “as good as gold”. Robinhood, the analyst told CNBC in an interview on Thursday, is evidently “firing on all cylinders” considering it ended Q1 with 23.9 million funded customers in total – up some 810,000 versus last year. With a 65% increase...
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Clover Health (NASDAQ: CLOV) stock price went parabolic on Wednesday as investors cheered the company’s financial results, forward guidance, and share repurchase program. It surged by over 18%, its best daily performance since August last year. Clover Health, a former meme stock, published strong results as it moved towards profitability. Its total revenue rose to over $346 million in the quarter, higher than the $321 million it made in the same period in 2023. Most importantly, the company had its first adjusted EBITDA profit ever as it rose to $6.8 million. Also, it continued to narrow its n...
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Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter. Affirm stock rallies on impressive outlookThe stock is being rewarded also because $AFRM issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter. Analysts, in comparison, were at $576 million. Max Levchin – the chief executive of Affirm Holdings said in a letter to shareholders today: Our consumers love Affirm. We cannot wait to delive...
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NatWest (LON: NWG) share price is in an unstoppable bull run. It has surged by over 40% this year, making it the best performer in the FTSE index. It was trading at 312p on Wednesday, 95% from its lowest point in November last year, giving it a market cap of over $34 billion. Strong earnings growthNatWest is not the only British bank that is booming. Barclays shares are up by over 36% this year while HSBC, Standard Chartered, and Lloyds have risen by over 12%. NatWest is booming because of its strong financial results, helped by high interest rates by the Bank of England (BoE). The most recent...
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