Shares of Deutsche Bank (DB ) rose as much as 5% Friday morning after a German magazine reported that JPMorgan (JPM ) , along with Industrial and Commercial Bank of China may take a stake in the troubled bank. However, a JPM spokesperson quickly spoke out and denied the report, removing some of the gains on the stock but still leaving it green on the day.
A Turbulent Stretch
DB has been underperforming in recent years, down nearly 40% in the last twelve months alone compared to a 3.4% increase across the financial services industry, shown here:
Last week, its US subsidiary was the only major bank to fail the second part of the Federal Reserve’s annual stress tests due to “widespread and critical deficiencies” in its capital planning controls.
The bank has been hurt by the sluggish growth of the European economy and lowered (and even negative) interest rates, which have been eating into its margins. In response to difficult operating conditions, DB has begun restructuring, announcing in May that it would axe 7,000 investment banking jobs and lay off 25% its equities sales and trading workforce. Doing so will reduce its investment bank’s leverage exposure by 10% overall, or over $117 billion.
Top China Stocks To Buy For 2019: ONEOK Inc.(OKE)
Advisors’ Opinion:
- [By Max Byerly]
Prudential Financial Inc. boosted its stake in ONEOK (NYSE:OKE) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,375 shares of the utilities provider’s stock after acquiring an additional 5,560 shares during the period. Prudential Financial Inc.’s holdings in ONEOK were worth $30,474,000 at the end of the most recent reporting period.
- [By Matthew DiLallo]
To put the power of a high-yield stock into perspective, we’ll look back at the returns of pipeline giant ONEOK (NYSE:OKE) over the past decade. As the following chart shows, ONEOK’s dividend yield has been well above the average of the S&P 500 during the last 10 years.
- [By Reuben Gregg Brewer]
For an example of just how important this is, take a look at the graph below. Midstream companies ONEOK Inc. (NYSE:OKE), Magellan Midstream Partners LP(NYSE:MMP), and Enterprise Products Partners L.P. (NYSE:EPD) have each increased their disbursements for more than a decade. However, there is a difference in the growth rates over time. Enterprise’s 10-year annualized distribution increase was 5.7%, Magellan’s was 10.9%, and ONEOK’s dividend rose at an annualized 16.1% clip. Just a few percentage points here makes a huge difference in the growth of the disbursement over time, as the chart below clearly shows.
- [By Matthew DiLallo]
ONEOK (NYSE:OKE) is off to a fast start in 2018. The pipeline and processing giant has benefited from the improvement in the oil market because drillers are completing more wells, which are flowing into its system. However, as good as the first quarter was, it’s only the beginning for investors, which management made clear on the accompanying conference call with the following points:
- [By Ethan Ryder]
Reaves W H & Co. Inc. raised its position in ONEOK (NYSE:OKE) by 185.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300,314 shares of the utilities provider’s stock after buying an additional 844,920 shares during the period. ONEOK makes up about 2.6% of Reaves W H & Co. Inc.’s holdings, making the stock its 11th biggest holding. Reaves W H & Co. Inc. owned approximately 0.32% of ONEOK worth $74,014,000 at the end of the most recent quarter.
Top China Stocks To Buy For 2019: Best Buy Co., Inc.(BBY)
Advisors’ Opinion:
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Losers
Recro Pharma, Inc. (NASDAQ: REPH) fell 50.3 percent to $6.17 in pre-market trading after the company received a Complete Response Letter from the FDA. The FDA declined to approve the company’s New Drug Application for IV meloxicam.
Westell Technologies, Inc. (NASDAQ: WSTL) shares fell 16.5 percent to $2.89 in pre-market trading after the company announced Q4 results.
Melinta Therapeutics, Inc. (NASDAQ: MLNT) fell 16.5 percent to $5.20 in pre-market trading after reporting pricing of public offering of common stock.
Westmoreland Resource Partners, LP (NYSE: WMLP) fell 11 percent to $3.49 in pre-market trading after surging 194.03 percent on Wednesday.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) shares fell 11 percent to $13.45 in pre-market trading. Petrobras announced plans to lower the cost of diesel by 10 percent.
Sanderson Farms, Inc. (NASDAQ: SAFM) shares fell 9.4 percent to $97 in pre-market trading after the company reported weaker-than-expected results for its second quarter.
Zealand Pharma A/S (NASDAQ: ZEAL) fell 6.9 percent to $15.55 in pre-market trading after rising 2.71 percent on Wednesday.
L Brands, Inc. (NYSE: LB) shares fell 6.7 percent to $31.76 in pre-market trading after the company reported weaker-than-expected earnings for its first quarter. The company issued weak second quarter and FY18 earnings guidance.
ReTo Eco-Solutions, Inc. (NASDAQ: RETO) shares fell 5.9 percent to $4.78 in pre-market trading.
Qiwi plc (NASDAQ: QIWI) fell 5.9 percent to $17.52 in pre-market trading.
Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) fell 5 percent to $13.25 in pre-market trading after reporting a proposed offering of common stock.
Best Buy Co Inc (NYSE: BBY) shares fell 4.3 percent to $72.66 in pre-market trading. Best Buy reported better-than-expected earnings for its first quarter.
NetApp Inc. (NASDAQ: NTAP) fell 4.1 percent to $64. - [By ]
Best Buy (NYSE:BBY) is another left-for-dead retailer that made it onto our list. The stock has launched straight up since mid-December. Its rallied almost 15% since we jumped onboard a few weeks ago.
- [By Dustin Parrett]
He banked a 224% profit on Best Buy Co. (NYSE: BBY) after its May 2017 earnings report, 151% on Deere & Co. (NYSE: DE) in May 2017, and another 100% gainer in only 18 days after Alibaba Group Holding Ltd. (NYSE: BABA) reported earnings in August 2017.
- [By Rick Munarriz]
One of last week’s biggest losers wasBest Buy(NYSE:BBY), shedding 12.5% of its value after posting its latest quarterly report. The consumer electronics retailer delivered what seemed to be blowout financial results at first glance, but sticking to its earlier guidance is in effect lowering its prognosis for the remaining nine months of the fiscal year.
- [By Lisa Levin]
Breaking news
Best Buy Co., Inc. (NYSE: BBY) reported better-than-expected earnings for its first quarter.
Sanderson Farms, Inc. (NASDAQ: SAFM) reported weaker-than-expected results for its second quarter.
Medtronic plc (NYSE: MDT) reported upbeat earnings for its fourth quarter on Thursday.
Williams-Sonoma, Inc. (NYSE: WSM) reported stronger-than-expected results for its first quarter. The company also raised its FY18 earnings and sales guidance.
Top China Stocks To Buy For 2019: New Mountain Finance Corporation(NMFC)
Advisors’ Opinion:
- [By Joseph Griffin]
Get a free copy of the Zacks research report on New Mountain Finance (NMFC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Shane Hupp]
Arlington Asset Investment (NYSE: AI) and New Mountain Finance (NYSE:NMFC) are both small-cap finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their profitability, analyst recommendations, dividends, risk, valuation, earnings and institutional ownership.
- [By Shane Hupp]
ValuEngine lowered shares of New Mountain Finance (NYSE:NMFC) from a hold rating to a sell rating in a report published on Tuesday.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of New Mountain Finance from a hold rating to a sell rating in a research note on Friday, May 11th. TheStreet lowered shares of New Mountain Finance from a b rating to a c+ rating in a research note on Wednesday, April 11th. Finally, Keefe, Bruyette & Woods set a $15.00 target price on shares of New Mountain Finance and gave the stock a hold rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $15.00.
- [By Shane Hupp]
These are some of the news headlines that may have effected Accern Sentiment’s scoring:
Get New Mountain Finance alerts:
New Mountain Finance (NMFC) Expected to Post Quarterly Sales of $50.86 Million (americanbankingnews.com) Zacks: Analysts Anticipate New Mountain Finance (NMFC) Will Post Earnings of $0.34 Per Share (americanbankingnews.com) New Mountain Finance (NMFC) Stock Rating Lowered by Zacks Investment Research (americanbankingnews.com) Is this stock is more Volatile? New Mountain Finance Corporation (NMFC) (stockquote.review) New Mountain Finance Corporation (NMFC): Stock Have a Latest Story: (mosttradedstocks.com)
A number of equities analysts have recently weighed in on NMFC shares. Zacks Investment Research raised shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, March 21st. TheStreet downgraded shares of New Mountain Finance from a “b” rating to a “c+” rating in a research note on Wednesday, April 11th. ValuEngine downgraded shares of New Mountain Finance from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $15.00 price target on shares of New Mountain Finance and gave the stock a “hold” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.00.
