breaking banking news
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Rockwell Stock Strength Rating Climbs To 72; Upgrade Follows 75% Profit Growth Last Quarter
In a welcome move, industrial giant Rockwell Automation (ROK) saw its Relative Strength Rating improve to 72, up from 69…
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Stock Market Shaves Some Gains As This Sector Rallies; Robinhood IPO Fizzles
The stock market came off session highs in afternoon trading Thursday, brushing off a weak reading on second-quarter GDP. Robinhood‘s…
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Broadcom Stock Shows Rising Strength; Chipmaker Pushes Into 5G Smartphones, AI Gear, Wi-Fi 6
Wi-Fi6, 5G, Artificial Intelligence; not many chipmakers serve such a wide panoply of markets as leading chipmaker Broadcom. On Thursday,…
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Atlassian Stock Jumps As Earnings Beat, Outlook Tops Views Amid Cloud Transition
Atlassian stock soared on Thursday after the software maker reported fiscal fourth-quarter earnings that topped estimates and forecast higher-than-expected subscription…
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IBD 50 Stocks To Watch: Social Media Play Eyes New Buy Point Ahead Of Earnings
Pinterest (PINS) is the IBD 50 Stocks To Watch pick as it eyes a new buy point ahead of earnings.…
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Large credit unions join forces as competitive pressures mount
Two upstate New York credit unions plan to merge and, in the process, form a top-30 institution by asset size.…
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Mastercard fleshes out its crypto strategy
Mastercard has long signaled an interest in digital currencies, a strategy that is taking shape through a new program to…
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Zelle becoming linchpin in faster payments as its traffic grows
Early Warning’s Zelle network on Thursday reported strong second-quarter growth, and it’s connecting more payments systems with each other —…
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LendingClub, fueled by surge in loans, posts surprise profit
A bigger-than-expected jump in loan originations helped LendingClub turn a profit in its first full quarter after acquiring a bank,…
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State Street to offer crypto services to private-fund clients
State Street is set to offer cryptocurrency reporting, reconciliation and processing services to its private-fund clients in the latest sign…
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Dow Jones Rallies As U.S. GDP Disappoints; Tesla Races Higher, Robinhood IPO Set To Jump In Debut
The Dow Jones Industrial Average rallied 220 points Thursday, as U.S. GDP in the second quarter missed estimates. Tesla stock…
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New York regulator will collect, publish diversity data from banks
New York regulators are asking the financial institutions they supervise to disclose data about the diversity of their boards and…
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Merck Earnings Meet Views, Sales Top With Stock In Buy Zone
Merck stock fell a fraction early Thursday after the pharmaceutical giant reported adjusted earnings of $1.31 per share on $11.4…
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Dow Jones Falls As Schumer Makes Infrastructure Call; Fed Holds Rates Steady; Apple Stock Falls
The Dow Jones Industrial Average dipped as Senate Majority Leader Chuck Schumer made a call on the long awaited infrastructure…
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Banking bills doomed in Congress still credited with fostering change
WASHINGTON — In an extremely polarized Congress, the odds of Democratic leaders advancing progressive reforms to shake up financial services…
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Stock Market Closes Mixed After Fed Meeting; Nasdaq Climbs Thanks To This Sector
The stock market closed mixed after the Federal Reserve suggested it’s thinking more about cutting back its asset purchases. Semiconductors…
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Old Dominion Stock Shows Improved Strength As Economy Opens, More Goods Shipped
On Wednesday, the Relative Strength (RS) Rating for Old Dominion Freight Line (ODFL), one of the biggest trucking firms, rose…
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Qualcomm Stock Jumps On June-Quarter Beat-And-Raise Report
Wireless-chip maker Qualcomm (QCOM) late Wednesday easily beat Wall Street’s targets for its fiscal third quarter and guided higher for…
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SBA gives banks a break on PPP loan forgiveness
The Small Business Administration will allow borrowers with Paycheck Protection Program loans of $150,000 or less to apply online for…
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How New York Community plans to make most of Flagstar acquisition
New York Community Bancorp has already crossed off several items on its merger to-do list: It has formed an integration…
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Citizens building critical mass in New York with Investors deal
Citizens Financial Group’s first bank acquisition since going public — a deal for a lender with a large footprint in…
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Two California bank deals highlight appeal of smaller cities
Bank merger and acquisition activity continued its rebound with a pair of deals in California focused on growth in mid-sized…
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Swift aims be more fintech-like with faster cross-border payments
The global bank consortium Swift this week launched a high-speed international payments service, giving banks a way to compete more…
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Stock Of The Day Nears Buy Point On Booming Prices
Lennar Lennar LEN $1.63 1.59% 57% IBD Stock Analysis Working on 110.71 buy point Strong EPS, revenue growth amid high…
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The case against returning to normal
Many individuals whose financial health was impacted by the COVID-19 pandemic continue to struggle, even as the economy recovers. For…
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Will Facebook’s Earnings Report Support Its Trillion-Dollar Valuation?
With Facebook stock trading at a record high and with a valuation now above $1 trillion, the social media giant…
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The point of sale isn’t just changing — it could disappear
The seismic shift in consumer payment habits that began last year is far from over. Even now, fears about spreading…
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Dow Jones Today, Futures Rise Ahead of Fed; Apple, Alphabet, Microsoft, Boeing, AMD, McDonald’s Earnings
Stock futures climbed into slender gains Wednesday, amid a blitz of mixed earnings news, and ahead of the Fed’s afternoon…
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Fed Meeting: Stock Market Reaction Hinges On These 4 Words
There’s one big question for today’s Federal Reserve meeting. Are we “still a ways off” from seeing sufficient economic progress…
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Shopify Stock Rises As Earnings Top Views Amid Slowing Gross Merchandise Volume
Shopify earnings and revenue and for the second quarter topped analyst estimates on Wednesday as gross merchandise volume slowed from…
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Music Streaming Leader Spotify Says User Growth Nicked By Pandemic
Spotify Technology (SPOT) on Wednesday matched analyst expectations for new subscribers in the second quarter but its total monthly active…
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Microsoft Beats June-Quarter Targets, Gives Rosy Outlook
Software leader Microsoft (MSFT) late Tuesday cruised past Wall Street’s targets for the June quarter and guided higher for the…
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State regulator group issues standards for nonbank mortgage servicers
The Conference of State Bank Supervisors has unveiled bank-like prudential standards for overseeing nonbank mortgage servicers. The CSBS’ board of…
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Dow Jones Drops Ahead Of Apple, Microsoft Results; Growth Stocks Move On Earnings
Key market indexes fell from Monday’s highs as tech stocks led a broad sell-off and the Dow Jones Industrial Average…
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Dow Jones Falls As Tesla Slides On Earnings; Apple Earnings On Deck
The Dow Jones Industrial Average briefly fell 250 points Tuesday, as Tesla stock reversed lower despite strong earnings results late…
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Mongodb Stock Shows Market Leadership With Jump To 83 RS Rating
The Relative Strength (RS) Rating for Mongodb (MDB) climbed into a new percentile Monday, with a rise from 80 to…
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Trade Desk Stock Composite Rating Climbs To 96; Reopening Economy Spurs Ad Buying
The IBD SmartSelect Composite Rating for Trade Desk (TTD) rose from 91 to 96 Monday. That’s a near-best rating for…
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Telecom Clearfield Stock Sees Composite Rating Rise To 97
Clearfield (CLFD) saw an improvement in its IBD SmartSelect Composite Rating Monday, from 91 to 97. The telecom stock has…
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IBD 50 Stocks To Watch: Will Cleveland-Cliffs Break Out To New Highs After 842% Run?
Cleveland-Cliffs, featured in today’s IBD 50 Stocks To Watch, is getting close to a breakout amid high steel prices and…
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Cadence Design Systems Beats Second-Quarter Sales, Earnings Goals
Electronic design software maker Cadence Design Systems (CDNS) late Monday beat Wall Street’s targets for the second quarter. But CDNS…
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Boeing To Report As New Crosscurrents Muddle Outlook
Boeing (BA) will report second-quarter results early Wednesday as more 737 Max orders roll in while Covid-19 cases are also…
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South Bay Credit Union hires new president and CEO
South Bay Credit Union in Redondo Beach, California, has hired Paris Chevalier as its president and CEO after a national…
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Tether executives said to face criminal probe into bank fraud
A U.S. probe into Tether is homing in on whether executives behind the digital token committed bank fraud, a potential…
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Skechers Gets IBD Stock Rating Upgrade
On Monday, Skechers (SKX) got an upgrade for its IBD SmartSelect Composite Rating from 90 to 96. X The revised…
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Lordstown Secures $400 Million In Equity With Promise On Shorting
Embattled EV startup Lordstown Motors (RIDE) said it had secured a deal in which hedge fund YA II would buy…
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Don’t let Supreme Court’s ruling turn FHFA into a political agency
Hours after the Supreme Court made clear his authority to do so, President Biden fired Federal Housing Finance Agency Director…
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Mueller Industries Shows Rising Relative Price Performance; Still Shy Of Key Threshold
On Monday, Mueller Industries (MLI) received an upgrade to its Relative Strength (RS) Rating, from 68 to 72. X When…
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Apple Stock Pricing In June-Quarter Beat, Strong iPhone 13 Launch
With Apple stock in record high territory ahead of June-quarter results, expectations are elevated on Wall Street for an upbeat…
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Visa Moves Into Buy-Now-Pay-Later To Counter Threat From PayPal, Others
Visa (V) is venturing into the domain of rivals such as PayPal Holdings (PYPL) by creating so-called buy-now-pay-later installment payment…
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Nonbank lenders balk at Ginnie Mae capital plan
A Ginnie Mae proposal to introduce a risk-based capital requirement for nonbanks has sparked an outcry from mortgage lenders that…
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