15 Mins Ago
Earnings season has been ‘pretty ugly’ so far, especially in terms of market reaction: strategist
Vincent Chaigneau of Generali Investments discusses earnings season and the outlook for stock markets and investing.
An Hour Ago
Bond rout ‘tremendously dangerous’ for equities, CIO says
David Neuhauser, CIO at Livermore Partners, discusses risks to the U.S. economy and the threat to equities from bond yields.
3 Hours Ago
Shares of Sanofi tumble 15% after drugmaker abandons 2025 profit target
Shares of French drugmaker Sanofi fell more than 15% on Friday morning shortly after the company dropped its 2025 profit target and announced it was reviewing possible separation scenarios.
The Paris-listed stock, which dropped to the bottom of the pan-European Stoxx 600 on the news, is currently on track for its worst day in 29 years, Reuters reported.
“The intended separation will seek to create two entities, each better equipped to pursue its own business strategy, resourcing and capital allocation and enabling each to focus on long-term growth in its respective markets,” Sanofi said in a statement.
Sanofi said the timing of the separation would not happen before the final quarter of 2024 at the earliest and added that the listing would be designed “to drive growth and shareholder value.”
— Sam Meredith
5 Hours Ago
CNBC Pro: Worried about a slowdown? One asset management firm shares a way to hedge — and names 10 global stocks
High-yielding stocks have been doing well despite rising interest rates, according to AllianceBernstein.
The asset management firm said it’s “premature” to call a peak in rates or bond yields, adding that it expects rates to stay “high and stable” in the short term, and noted that European high equity yield has done well in “similar scenarios.”
Subscribers can read more here.
— Amala Balakrishner
6 Hours Ago
Europe stocks to open slightly higher
European markets are seen opening cautiously higher, according to IG data.
The FTSE 100 was last seen opening 12.5 points higher at 7,369, with Germany’s DAX and France’s CAC 40 flat. Italy’s MIB was seen up 25 points at 27,476.
— Jenni Reid
7 Hours Ago
CNBC Pro: ‘An iPhone moment’: Bernstein names global stocks to play the ‘rapid growth’ in battery tech
The energy transition will require more and better batteries, according to Bernstein.
“To enable the energy transition, we will need batteries with higher energy density, faster charging times, and enhanced safety,” analysts wrote in an October report.
Lithium-ion battery technology has remained “essentially unchanged” in the past 30 years — and there’s a limit to how much more that tech can improve — but that’s about to change, the firm said.
Subscribers can read more here.
— Weizhen Tan
14 Hours Ago
The major averages are on pace for three straight losing months
Stocks are limping through the fall, and all three of the major averages are poised to post their third consecutive month of declines.
In October, the S&P 500 is down 3.52%. The Nasdaq Composite is off 4.72%, and the Dow Jones Industrial Average is down 2.16%.
If the month ends with losses for the indexes, it’ll be the first time the Dow and the S&P 500 have had three straight months of declines since March 2020.
The last time the Nasdaq fell for three consecutive months was back in June 2022.
–Darla Mercado, Chris Hayes
