Stay informed with free updates Simply sign up to the World myFT Digest — delivered directly to your inbox. This article is an on-site version of our The Week Ahead newsletter. Subscribers can sign up here to get the newsletter delivered every Sunday. Explore all of our newsletters here Hello and welcome to the working…
RiverNorthPhotography Interest rates have moved sharply higher this year. The yield on the benchmark 10-year Treasury note has jumped from 3.8% last December to near 4.7% over recent trading days. The 2-year note yield is back at 5% amid strong economic growth data and inflation readings that are above what the Federal Reserve wants to…
Hammarby Studios/E+ via Getty Images Alexander’s (NYSE:ALX) has maintained its dividend through the chaos of the last few years, recently declaring a quarterly cash dividend of $4.50 per share for an 8.8% dividend yield. This yield sits significantly above ALX’s 5-year average yield of 4.83% with the New York City-focused REIT currently trading hands for…
RyanJLane/iStock via Getty Images Large Institutional Investment in NYCB: On Wednesday March 6th, New York Community Bancorp, Inc. (NYSE:NYCB) received a $1.05 billion investment led by former Treasury Secretary Steve Mnuchin’s Liberty Strategic Capital, Reverence Capital, and Hudson Bay Capital. Details of the investment are below. Mnuchin Group Investment in NYCB (Company Presentation) The common…
Spencer Platt There are sometimes no prizes for heroics. Sometimes a stock is sold for a good reason and as much as price anchoring makes us think it is “cheaper” than the day before, one must always look at the facts first. Looking at what was an avalanche of bad news from New York Community…
wildpixel Thesis It is surprising to see the market shrug off so easily another slow motion train wreck as witnessed in the New York Community Bancorp’s (NYSE:NYCB) stock price. The name was down over -20% on March 4th, bringing its year to date performance to a staggering -71%: Data by YCharts Banks rely on faith…
Philip Morris International Inc. (NYSE:PM) Consumer Analyst Group of New York (CAGNY) Conference February 21, 2024 10:00 AM ET Company Participants Jacek Olczak – Chief Executive Officer Emmanuel Babeau – Chief Financial Officer Stacy Kennedy – President of Americas & CEO of PMI U.S. Stefano Volpetti – President, Smoke-Free Inhaled Products & Chief Consumer Officer…
Halfpoint Images/Moment via Getty Images The second-largest seller of fast-charging stations for electric vehicles in Europe hopes to refresh its coffers through a U.S. listing Little-known fast-charging station maker XCHG Ltd. (XCH) is aiming to juice up its coffers with a Nasdaq IPO that looks quite modest, at least based on the company’s expected market…
wildpixel There is a great amount of commentary on today’s surprise Q4 earnings miss from New York Community Bancorp, Inc. (NYSE:NYCB) and the massive dividend cut down to $0.05 quarterly. Ouch. Shares tanked 40% premarket. We were asked about it in our investing group premarket, and we discussed with members that we felt while this…
James Andrews/iStock via Getty Images On our last coverage of New York Community Bancorp, Inc. (NYSE:NYCB), the stock was at $9.37, and we suggested that it was good but not “great”. Well, if you are heavily underweight financial stocks, then this is one of the best you can add. If you are patient, the odds…
The Bank of New York Mellon Corporation (NYSE:BK) Q4 2023 Earnings Conference Call January 12, 2024 1:00 PM ET Company Participants Marius Merz – Head of Investor Relations Robin Vince – President and Chief Executive Officer Dermot McDonogh – Chief Financial Officer Conference Call Participants Brennan Hawken – UBS Mike Mayo – Wells Fargo Securities…
JHVEPhoto/iStock Editorial via Getty Images Mega-project construction company Tutor Perini (NYSE:TPC) had a series of negatives earlier this year including a cancellation of a major road project, a loss of an appeal in federal court, and an S&P downgrade of their debt to “B-” from “B+”. But with continued strong cash flow and a $2.95…
mbbirdy/iStock Unreleased via Getty Images The New York Times Company (NYSE:NYT) has weathered challenges to the traditional print media business far better than most peers. The company has built an impressive digital business with over 9.4 million subscribers. Digital revenue now accounts for ~60% of the company’s total revenue and primarily consists of subscription based…
Pogonici/iStock via Getty Images You can only make decisions on valuation for the long haul. It seldom works out in the short run. The same was the case for New York Community Bancorp, Inc. (NYSE:NYCB) where we left a lot of money on the table as we exited. Our rationale was as follows. So while…
RiverNorthPhotography Thesis Despite The Bank of New York Mellon (NYSE:BK) being a well-known global brand, I believe that your money would be better suited elsewhere. The company has underperformed the sector, competitors, and the S&P for a decade. Despite a heftier starting dividend yield of 4%, it’s hard to rate BK with a buy when…
The new guidance will be the first one to key into delisting as a way of protecting investors. The New York State Department of Financial Services (NYDFS) is set to publish a new set of rules for crypto firms. The proposed guidance, per a Wall Street Journal report, will seek to ensure that crypto firms…
Mashinsky had already put his Austin, Texas property that was acquired in 2021 with Celsius proceeds, on sale for about $2.49 million. The former Celsius Chief Executive Officer (CEO) Alex Mashinsky faces more financial hurdles after United States Judge Jed S. Rakoff ordered his assets to be frozen as the criminal case with the Department…
Roman Tiraspolsky/iStock Editorial via Getty Images Research Brief In today’s equity research analysis I am returning to a stock I covered several months ago, but still one of my favorites in the financial sector, Bank of New York Mellon (NYSE:BK). This time, however, I am applying my new rating methodology and seeing if I get…