Shares of financial services giant Bank of America (NYSE:BAC) fell 3% in the afternoon session after analyst at HSBC downgraded the stock to "hold" from "buy.". The downgrade was primarily driven by valuation concerns, according to the HSBC analyst. This move comes amid broader market unease, as investors grapple with the potential economic impact of new tariffs on U.S. trade partners announced by President Trump. These tariffs, set to take effect on August 1, are creating uncertainty and weighing on the outlook for the banking sector.
Shares of global financial services giant JPMorgan Chase (NYSE:JPM) fell 3.5% in the afternoon session after a downgrade by analysts at HSBC to "Reduce" from "Hold.". The investment firm cited valuation concerns as the primary driver for the downgrade, even as it raised its price target on the stock to $259 from $237.
Former U.K. Prime Minister Rishi Sunak’s appointment at Goldman Sachs at Senior Adviser marks his return to Wall Street more than two decades after leaving.
Godrej Consumer Products surged 6% after a robust Q1 operational update. Brokerages retain ‘Buy’ calls, as double-digit growth potential emerges in both domestic and international markets.
The HSBC India Manufacturing Purchasing Managers’ Index, compiled by S&P Global, climbed to 58.4 in June from May’s 57.6 and in line with a preliminary estimate released last week.
Marc Franklin, Deputy Head of Multi-Asset Solutions at Manulife Investment, noted that the firm currently holds a neutral position in Indian equities compared to benchmarks and is closely monitoring whether credit demand picks up in response to recent rate cuts.
BNP Paribas to acquire HSBC's German custody and depositary bank operations, boosting its presence in Germany's institutional funds and financial intermediary sectors. No financial terms disclosed.
Broadcom’s stock surged to a record high after HSBC upgraded the stock to ‘Buy’ and raised its target to $400, citing stronger ASIC project visibility and rising AI-driven demand.
Can international stocks continue to outperform their US counterparts? Structrual trends points to continued strength, and these 3 stocks are poised to profit.
The company is looking to raise ₹4,500 crore by selling a 11.6% stake. Analysts say the fundraise could ease debt, but biosimilar execution remains key.
Autos and private banks saw some traction, while technology and PSU bank stocks remained under pressure. The retail sentiment on Stocktwits turned ’extremely bearish’.
