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BCS

Barclays has updated its 2024 financial outlook, targeting a return on tangible equity (RoTE) of over 10% and approximately 10.5% excluding inorganic activity. The bank aims for net interest income (NII) of around £11.0 billion, up from the previous target of £10.7 billion, and a cost-to-income ratio of about 63%. Barclays also expects a loan loss rate (LLR) of 50-60 basis points and plans to maintain a CET1 ratio within the 13-14% range.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:22 am

PDM

Piedmont Office Realty Trust has revised its FY24 Core FFO outlook from $1.46 - $1.56 to $1.46 - $1.52, with an estimated $1.50. This adjustment reflects the impact of a recent $400 million bond issuance.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 9:55 pm

QQQ

UUP

Federal Reserve Chair Jerome Powell indicated that a rate cut could be on the table for the September meeting if inflation and the labor market perform as expected. The Fed held the interest rate steady at 5.25-5.5% in July. Powell's comments led to a rise in stocks and gold, while the dollar fell.

Portfolio Pulse from Piero Cingari

July 31, 2024 | 7:48 pm

SPY

DoubleLine Capital's Jeffrey Gundlach predicts 150 basis points of interest rate cuts within a year and recommends 2-year, 3-year, and 5-year Treasurys as safe investments.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 7:32 pm

SPY

Jeffrey Gundlach of DoubleLine Capital suggests that the Federal Reserve has room to cut short-term interest rates and believes they should have made a cut today.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 7:31 pm

SPY

Fed Chair Powell stated that there is no specific guidance on the pace of rate cuts, emphasizing that decisions will depend on economic data. He noted broader disinflation and better inflation data compared to last year, but stressed the need for more data to confirm trends. Powell expressed growing confidence with positive data, mentioning that the economy is not overheating and the labor market is softening.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:53 pm

SPY

Fed Chair Powell indicated that the future path of interest rates will depend on economic conditions, with scenarios ranging from zero to several rate cuts this year. He noted that the labor market is gradually normalizing and that the Fed is balancing its focus between job growth and inflation control.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:43 pm

SPY

Fed Chair Jerome Powell indicated that a rate cut in September is possible if inflation trends down as expected, growth remains strong, and the labor market stays stable. However, disappointing inflation data could weigh against a rate cut. Recent inflation readings have increased confidence, but more good data is needed.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:41 pm

IWM

SPY

A recent poll indicates that nearly half of respondents want the Federal Reserve to cut rates immediately, while 30% prefer a rate cut in September. The July FOMC meeting is expected to maintain the current federal funds rate, but easing inflation has increased the likelihood of rate cuts in the near future. Small cap stocks, represented by the iShares Russell 2000 ETF (IWM), have outperformed the SPDR S&P 500 ETF Trust (SPY) recently, as investors anticipate potential rate cuts.

Portfolio Pulse from Chris Katje

July 31, 2024 | 2:57 pm

NFLX

Netflix Inc (NASDAQ:NFLX) is raising $1.8 billion through its first debt offering since 2020 to refinance existing debt and for general corporate purposes. The company, which ended Q2 with 277.65 million global paid subscribers, aims to maintain its leadership in the streaming sector. The new funds could also be used for acquisitions in streaming or gaming.

Portfolio Pulse from Chris Katje

July 31, 2024 | 2:23 pm