Новости за 13.03.2023

The aftershocks of the sudden collapse of three American banks in less than a week could spell more pain for stocks in the weeks ahead by creating new obstacles for the Federal Reserve in its battle against inflation, market strategists said.

Shares of Bunge Ltd. BG rallied in the extended session Monday after S&P Indices said Bunge would replace the failed Signature Bank in the S&P 500 index. SPX The change is effective before the bell Wednesday. Last Friday, the index manager said that Insulet Corp. PODD was replacing Silicon Valley Bank parent SVB Financial Group in the index after Silicon Valley Bank was shut down on Friday by regulators. Crypto-friendly Signature Bank was shut down on Sunday. Bunge is an agribusiness and food company headquartered in St. Читать дальше...

Silicon Valley Bank parent company SVB Financial Group SIVB said late Monday the board’s restructuring committee named William Kosturos as chief restructuring officer. Kosturos was provided by Alvarez & Marsal, the advisory firm that is serving as SVB’s “restructuring counsel” as it explores “strategic alternatives” for the company and its businesses, SVB said in a filing with the Securities and Exchange Commission. Kosturos previously served as CRO for Washington Mutual, the largest U.S. bank failure back in 2008. Читать дальше...

United Airlines Holdings Inc. falls more than 7% Monday as the airline surprises Wall Street calling for a loss in its first quarter, saying it saw lower-than-expected demand in January and February and continued to feel the pinch of high fuel prices.

BuzzFeed Inc. BZFD shares dropped in the extended session Monday after the media company reported a revenue forecast that fell short of expectations and said the majority of its cash was held at Silicon Valley Bank. BuzzFeed shares fell as much as 9% after hours, following a 0.8% decline in the regular session to close at $1.28. The company said it expects first-quarter revenue between $61 million and $67 million, when analysts surveyed by FactSet had forecast $83.6 million. For the fourth quarter... Читать дальше...

The failure of Silicon Valley Bank on Friday following the collapse of parent company SVB Financial will have both short- and long-term effects.

Regulators are planning another auction for Silicon Valley Bank after they failed to find a buyer over the weekend, the Wall Street Journal reported Monday, citing unnamed sources. The Federal Deposit Insurance Corp. seized the bank Friday after a run on deposits. The Journal reports that at least one bank made an offer for Silicon Valley Bank, but that the FDIC rejected that offer. It is unclear when the second auction would be.

GitLab Inc. shares plummeted in the extended session Monday after the DevOps software company’s revenue forecast fell short of the Wall Street consensus.

Trading platform Robinhood Markets Inc. HOOD on Monday said user accounts ticked higher month-over-month in February, but said other metrics remained the same over that time. Net cumulative funded accounts — or accounts into which users put money or other assets — rose by around 50,000 to 23.1 million. Monthly active users at the end of February were 12 million, the same as in January. Assets under custody at the end of last month were $74.7 billion, in line with levels in January. Trading volumes... Читать дальше...

U.S. regulators are under scrutiny after they may have missed clear signs of growing risk at Silicon Valley Bank

A number of the Republicans expected to run for president in 2024 have been criticizing the Biden administration's response to the current banking crisis.

Shares of Bank of America Corp. BAC dropped 5.8% in very active trading Monday to the lowest close since November 2020, as the recent collapses of SVB Financial Group’sSIVB Silicon Valley Bank and Signature Bank SBNY led to a broad selloff in the banking sector. Trading volume swelled to 210.5 million shares, which was more than five times the full-day average over the past 30 days of about 40.1 million shares, the most shares traded since the 225.3 million that turned over on Dec. 14, 2016 and... Читать дальше...

President Joe Biden spoke about the steps taken over the weekend to protect the U.S. banking system and the economy.

‘There was a prenuptial agreement, but our lawyers have said it was poorly written and would never hold up in court.’

Before the government stepped in, a generation of tech startups faced an existential crisis.

Jet maker Boeing Co. BA is close to a deal under which two airlines in Saudi Arabia would buy nearly 80 wide-body 787 Dreamliners, with options for around 40 additional aircraft between the carriers, the Wall Street Journal reported on Monday. The two airlines — Saudia, along with Riyadh Air, which the Journal said was launched by the nation’s wealth fund this weekend — were both set to buy around 39 jets each. The deal could be announced as early as Tuesday, the Journal said. Shares were up 0.1%... Читать дальше...

U.S. stocks finished mostly lower on Monday as the main indexes pared early gains while falling bank stocks continued to weigh on the market. The S&P 500 SPX shed 5.85 points, or 0.2%, to 3,855.74, while the Nasdaq Composite COMP gained 49.96 points, or 0.5%, to 11,188.84, and the Dow Jones Industrial Average DJIA fell by 90.50 points, or 0.3%, to 31,819.14, according to preliminary FactSet data.

Dow extends losing streak to fifth session amid bank volatility

All three major U.S. stock indexes were higher in the final hour of trading Monday, as traders priced in a decent chance of a pause in rate hikes by the Federal Reserve next week. Dow industrials were up 0.3%, moving toward the first gain of the past five trading sessions. The Nasdaq Composite was up 1.2%, while the S&P 500 was higher by 0.5%. Investors are continuing to weigh the potential fallout from the collapse of California’s Silicon Valley Bank and Signature Bank of New York, which... Читать дальше...

Western Alliance Bancorp WAL said Monday it has taken extra steps to ensure liquidity following last week’s failure of SVB Financial’s SIVB Silicon Valley Bank. “Western Alliance has taken additional steps to strengthen its liquidity position to ensure that we are in a position to meet all of our client funding needs, including increasing our borrowing capacity,” said Western Alliance Chief Executive Kenneth Vecchione in a filing with the Securities and Exchange Commission Monday. “As of this morning... Читать дальше...

Illumina Inc. ILMN said Monday it received notice from Icahn Partners that the organization plans to nominate three candidates to to the board over concerns about the company’s $7.1 billion acquisition of Grail. Jesse Lynn and Andrew Teno are current Icahn employees and Vincent Intrieri is a former Icahn employee. Icahn reportedly told Illumina that the acquisition, which has faced regulatory scrutiny, cost shareholders $50 billion, according to the Wall Street Journal. The news rallied shares... Читать дальше...

Bond yields fall sharply as investors see a chance that the Federal Reserve will either pause its rate-hike campaign or raise borrowing costs more slowly.

The action could represent a repudiation of the post-financial crisis consensus on U.S. bank regulation.

Approval for new oil-drilling in Alaska for ConocoPhillips, although with conditions, is one of President Biden’s most consequential climate choices to date.

British billionaire Jim Ratcliffe and Qatari Sheikh Jassim Bin Hamad Al Thani have made bids for the famous club.