Bank of America, Mattel, and 4 Other Stocks Have Priced in Recession. Buy Them. -- Barrons.com
Bank of America Options Spot-On: On April 29th, 117.23K Contracts Were Traded, With 2.94 Million Open Interest
Wells Fargo Stock Gains After $40B Stock Buyback Program
Wall Street Banks sold the final portion of the debt involved in Musk's acquisition of X.
A knowledgeable source said on Monday that a group of banks, including Morgan Stanley, Bank of America, Barclays, and Mitsubishi UFJ Financial Group, has sold the last portion of debt associated with billionaire Elon Musk's acquisition of the social media platform Twitter (X) for 44 billion dollars in 2022. The source added that loans worth 1.2 billion dollars were sold at a discount of 98 cents on the dollar, with a yield of 9.5%. Musk's close relationship with former President Donald Trump, along with the outlook for improved revenues at X, allowed the banks to reduce their holdings of 13 billion dollars related to the debt on their books over nearly two years.
Bank of America Securities: Lowered the Target Price of TECHTRONIC IND to HKD 103, maintaining the Buy rating.
Bank of America Securities released a Research Report stating that TECHTRONIC IND (00669) is on track in revenue and profitability for the first half of the year, but visibility is low for the second half due to tariff impacts. It is expected to return to the right track next year, as the USA will no longer import manufactured products from China. The Target Price for TECHTRONIC IND has been lowered from HKD 125 to HKD 103. Considering the uncertainty of tariffs, the bank believes that a lower valuation multiple should be used for the Target Price. Given the company's strong balance sheet, growth of Milwaukee, and leadership position, the stock maintains a 'Buy' rating. The bank indicated that, on the Consumer side, housing transaction volume still faces challenges. Due to the stability of the high-income demographic and the middle...
Bank of America Securities: China Shenhua Energy's first-quarter net income disappoints expectations, lowering the target price to 32 Hong Kong dollars.
Bank of America Securities released a Research Report stating that China Shenhua Energy (01088) saw its net income fall by 19% to 13.4 billion yuan in the first quarter, missing expectations. The primary reason the quarterly earnings did not meet expectations was due to a more-than-expected drop in the average selling price of Coal. The bank has lowered Shenhua's net income forecast for this year to 2027 by 7% to 12%, reducing the Target Price from 33 Hong Kong dollars to 32 Hong Kong dollars, while maintaining a "Neutral" rating, citing the pressure on earnings from declining Coal prices. However, the company is in a net cash position, and management is committed to returning value to Shareholders. China Shenhua's quarterly revenue fell by 21% year-on-year to 69.6 billion yuan; gross profit decreased by 22% year-on-year to 21 billion yuan.
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