Category: Money

Morgan Stanley

Stock outperforms market on strong trading day

Shares of Morgan Stanley MS, +0.40% inched 0.40% higher to $92.05 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.19% rising 0.19% to 4,247.44 and the Dow Jones Industrial Average DJIA, +0.04% rising 0.04% to 34,479.60. The stock’s rise snapped a four-day losing streak. Morgan Stanley closed $2.22 below its 52-week high ($94.27), which the company achieved on June 7th.

The stock demonstrated a mixed performance when compared to some of its competitors Friday, as JPMorgan Chase & Co. JPM, -0.07% fell 0.07% to $160.29, Bank of America Corp. BAC, +0.41% rose 0.41% to $41.86, and Citigroup Inc. C, -0.53% fell 0.53% to $76.48. Trading volume (6.3 M) remained 3.4 million below its 50-day average volume of 9.7 M.

Published: June 11, 2021 at 5:09 p.m. ET

CoreCard Software, Inc.

Shares of Intelligent Systems INS, +0.57%  have been on an absolute tear lately. Shares are up more than 150% year-to-date since Jan. 1, and more than 500% in the last year! That’s because this yet-unprofitable small-cap stock has seen equally impressive revenue growth thanks to its payment processing technology.

CoreCard is a leading issuer-processor and provider of card management and transaction processing systems. CoreCard offers an array of account management and system of record solutions to support the complex requirements of the evolving global financial services industry.

The CoreCard platform provides the market’s most feature-rich design for card processing and managing accounts. The platform supports a full range of card products including prepaid/stored-value, fleet, revolving credit, loans, pay-day lending, debit, commercial, government, healthcare and private-label cards.

Top Seven

Nvidia Corp. NVDA, +0.20% were up 81% for 2020

Here they are, sorted by how much the stocks have returned this year through Nov. 18:

COMPANYTOTAL RETURN — 2020 THROUGH NOV. 19
SunRun Inc. RUN, -1.79%311%
Etsy Inc. ETSY, +10.65%187%
Penn National Gaming Inc. PENN, +1.25%163%
Boston Beer Co. Class A SAM, -0.19%143%
Nvidia Corp. NVDA, +0.20%129%
Green Dot Corp. Class A GDOT, -1.65%124%
Generac Holdings Inc. GNRC, +2.25%111%
Source: FactSet

BlackRock Inc

BlackRock, Inc. (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Its product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds (ETFs), separate accounts, collective investment funds and other pooled investment vehicles. It offers its Aladdin investment system, as well as risk management, outsourcing, advisory and technology services, to institutional investors and wealth management intermediaries under the BlackRock Solutions name.

First Citizens BancShares, Inc. [FCNCA]

First Citizens BancShares (NASDAQ:FCNCA) to merge with CIT Group (NYSE:CIT) in an all-stock merger of equals to create the 19th largest bank in the United States based on assets. $100 Billion Deal

First Citizens BancShares (NASDAQ:FCNCA) to merge with CIT Group (NYSE:CIT) in an all-stock merger of equals to create the 19th largest bank in the United States based on assets.

Under the terms of the definitive merger agreement, which was unanimously approved by the Boards of Directors of both companies, CIT stockholders will receive 0.0620 shares of First Citizens class A common stock for each share of CIT common stock they own. First Citizens stockholders will own approximately 61% and CIT stockholders will own approximately 39% of the combined company.

The combined company will operate under the First Citizens name and will trade under the First Citizens ticker symbol FCNCA on the Nasdaq stock market. The combined company will be headquartered in Raleigh, N.C., and will maintain significant operation centers in New York, Pasadena, Omaha, Phoenix, Jacksonville, Fla., New Jersey and Columbia, S.C., among other locations.

Elon Musk and a former US labor secretary

Too Rich ? Never

  • Elon Musk and Robert Reich, a former US labor secretary, got into it on Twitter.
  • Reich accused the billionaire of being a “modern day robber baron” for cutting worker pay during the pandemic while his own wealth surged.
  • Musk countered that all Tesla workers had stock too, calling Reich a “modern day moron.”
  • It’s not the first time Musk has been sensitive to attacks on his wealth, which sits around $90 billion.