The Nifty for the first time has hit record high this Monday morning and is up 56 points, trading above 11,500. The Sensex on the other hand jumped 217 points and is trading at 38,167.
The metal index is up 1 percent with gains from Jindal Steel & Power, Hindalco Industries, Coal India, JSW Steel, Tata Steel, MOIL and Vedanta.
Nifty pharma has also added 1 percent led by Cadila Healthcare and Divis Labs which jumped 3-4 percent followed by Glenmark Pharma, Aurobindo Pharma and GSK Pharma.
PSU banks are also trading on the positive side led by State Bank of India, Canara Bank, Andhra Bank, Bank of Baroda, Oriental Bank and Union Bank of India.
related news Mawana Sugars rises nearly 13% on board approval to set up new Distillery at UP Infosys up about 40% so far in 2018. How will CFO exit impact the stock?Individual oil & gas stocks are also buzzing this Monday morning led by ONGC, HPCL and Reliance Industries.
Top Bank Stocks To Watch For 2019: Canadian Imperial Bank of Commerce(CM)
Advisors' Opinion:- [By Ethan Ryder]
Sigma Planning Corp boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.6% in the second quarter, HoldingsChannel reports. The firm owned 7,383 shares of the bank’s stock after acquiring an additional 826 shares during the period. Sigma Planning Corp’s holdings in Canadian Imperial Bank of Commerce were worth $642,000 at the end of the most recent reporting period.
- [By Joseph Griffin]
Canadian Imperial Bank of Commerce (NYSE: CM) and Foreign Trade Bank of Latin America (NYSE:BLX) are both finance companies, but which is the superior business? We will contrast the two companies based on the strength of their dividends, profitability, earnings, analyst recommendations, institutional ownership, risk and valuation.
- [By Lisa Levin] Companies Reporting Before The Bell Target Corporation (NYSE: TGT) is estimated to report quarterly earnings at $1.38 per share on revenue of $16.50 billion. Ralph Lauren Corporation (NYSE: RL) is expected to report quarterly earnings at $0.83 per share on revenue of $1.48 billion. Lowe's Companies, Inc. (NYSE: LOW) is projected to report quarterly earnings at $1.25 per share on revenue of $17.63 billion. Tiffany & Co. (NYSE: TIF) is estimated to report quarterly earnings at $0.83 per share on revenue of $957.49 million. Canadian Imperial Bank of Commerce (NYSE: CM) is expected to report quarterly earnings at $2.23 per share on revenue of $3.40 billion. Citi Trends, Inc. (NASDAQ: CTRN) is projected to report quarterly earnings at $0.9 per share on revenue of $210.70 million. Qiwi plc (NASDAQ: QIWI) is expected to report quarterly earnings at $0.25 per share on revenue of $60.19 million. iClick Interactive Asia Group Limited (NASDAQ: ICLK) is projected to report quarterly loss at $0.06 per share on revenue of $34.87 million.
Top Bank Stocks To Watch For 2019: First Commonwealth Financial Corporation(FCF)
Advisors' Opinion:- [By Joseph Griffin]
Barclays PLC increased its holdings in First Commonwealth Financial (NYSE:FCF) by 24.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,717 shares of the bank’s stock after buying an additional 6,593 shares during the period. Barclays PLC’s holdings in First Commonwealth Financial were worth $476,000 as of its most recent SEC filing.
- [By Logan Wallace]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
First Commonwealth Financial (NYSE:FCF) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top Bank Stocks To Watch For 2019: HSBC Holdings PLC (HSBA)
Advisors' Opinion:- [By Joseph Griffin]
HSBC (LON:HSBA) had its target price lowered by equities research analysts at Shore Capital from GBX 721 ($9.60) to GBX 625 ($8.32) in a report issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Shore Capital’s price objective indicates a potential downside of 14.71% from the company’s previous close.
- [By Max Byerly]
HSBC Holdings plc (LON:HSBA) has received an average recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is GBX 768.33 ($9.80).
- [By Max Byerly]
Credit Suisse Group set a GBX 720 ($9.32) price target on HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning. The firm currently has a neutral rating on the financial services provider’s stock.
- [By Ethan Ryder]
HSBC (LON:HSBA) had its price target dropped by equities research analysts at Citigroup from GBX 810 ($10.78) to GBX 800 ($10.65) in a report released on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 9.59% from the stock’s previous close.
- [By Max Byerly]
HSBC (LON:HSBA) was upgraded by equities research analysts at Credit Suisse Group to a “neutral” rating in a research report issued to clients and investors on Thursday. The firm presently has a GBX 720 ($9.38) target price on the financial services provider’s stock, up from their previous target price of GBX 680 ($8.86). Credit Suisse Group’s price target suggests a potential upside of 5.82% from the company’s previous close.
- [By Stephan Byrd]
Morgan Stanley set a GBX 855 ($10.91) price target on HSBC (LON:HSBA) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the financial services provider’s stock.
Top Bank Stocks To Watch For 2019: Wells Fargo & Company(WFC)
Advisors' Opinion:- [By Matthew Frankel]
The "big four" U.S. banks -- JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), and Citigroup (NYSE:C) -- have all reported their second-quarter earnings.
- [By Rich Duprey]
Instead of pitching in more of his own money now, Lampert's been working to try to secure financing from institutions other than his own hedge fund, ESL Investments. Reuters reports negotiations with Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) fell through as Lampert sought to arrange debtor-in-possession financing. Basically such reorganization efforts allow existing management to continue operating the train. But rumor has it lenders are not willing to give Lampert free rein anymore and are pushing for a Chapter 7 bankruptcy filing that calls for Sears to be liquidated, rather than the reorganization that Chapter 11 allows.
- [By ]
Gold. The rise in gold looks solid. I'm currently long the SPDR Gold Shares ETF (GLD) . Lackluster Banks. We're seeing disappointing action in the financials. However, I continue to buy them. I'm long Bank of America (BAC) , Citigroup (C) , JPMorgan Chase (JPM) and Wells Fargo (WFC) , although I'm shorting Goldman Sachs (GS) .Lastly, with S&P 500 closing at 2,706, the downside risk relative to the upside reward seems to argue in favor of maintaining a net-short exposure.
- [By Chris Lange]
And Wells Fargo & Co. (NYSE: WFC) also is expected to report its most recent quarter results on Friday. The consensus analyst forecast calls for $1.18 in EPS and revenue of $21.81 billion. Shares of Wells Fargo closed at $53.19 on Friday. The consensus price target is $62.30. The 52-week trading range is $50.26 to $66.31.
- [By Eric Volkman]
Other large Berkshire holdings have also been market laggards. Big bank Wells Fargo (NYSE: WFC) just can't keep itself out of trouble, with a new scandal erupting seemingly every other month. Buffett's belief in Wells Fargo, a longtime and major Berkshire position, is admirable. But it's not doing his company many favors. A more recent big-ticket buy, Kraft Heinz, also isn't lighting the investment world on fire.
- [By Paul Ausick]
Buffett also stuck by his long-term commitment to Wells Fargo & Co. (NYSE: WFC) which now amounts to about 10% of the bank’s outstanding stock. He almost seemed to excuse the fake account scandal with a comment that what happened at Wells Fargo could have happened to any bank. The scandal was the result of heavy corporate pressure on branch managers to increase sales. As a result, said Buffett, “Wells Fargo is a company that proved the efficacy of incentives and it’s just that they had the wrong incentives.”
Top Bank Stocks To Watch For 2019: Ampco-Pittsburgh Corporation(AP)
Advisors' Opinion:- [By ]
New York (AP) -- Four more deaths have been linked to a national food poisoning outbreak blamed on tainted lettuce, bringing the total to five.
Health officials have tied the E. coli outbreak to romaine lettuce grown in Yuma, Arizona. The growing season there ended six weeks ago, and it's unlikely any tainted lettuce is still in stores or people's homes, given its short shelf life. But there can be a lag in reporting, and reports of illnesses have continued to come in.
- [By ]
St. Louis (AP) -- The 100th edition of the PGA Championship began Thursday for the last time in the stifling heat of summer.
Club pro Michael Block hit the opening tee shot down the middle at Bellerive Country Club. The course is playing long and soft because of rain on Tuesday and temperatures in the 90s that require PGA officials to keep water on the greens.
- [By Shane Hupp]
Deutsche Bank AG boosted its holdings in Ampco-Pittsburgh Corp (NYSE:AP) by 117.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,599 shares of the industrial products company’s stock after purchasing an additional 10,578 shares during the quarter. Deutsche Bank AG’s holdings in Ampco-Pittsburgh were worth $242,000 at the end of the most recent quarter.
- [By ]
This undated photo provided by Lexus shows the 2019 Lexus UX. The Lexus UX has a few distinct advantages: It has the lowest cost of entry in the class ($33,025), and it is currently the only one that comes in a hybrid version for increased fuel efficiency. (Courtesy of Toyota Motor Sales U.S.A. via AP) (Photo: AP)
- [By ]
This undated photo provided by General Motors shows the 2019 Silverado, which features a large cargo bed in the full-size truck class. (Courtesy of General Motors via AP) (Photo: AP)
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