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jjj888
2021-06-21
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Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines
jjj888
2021-06-23
Hodl?
Bitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'
jjj888
2021-06-21
Cool
What banks will stand out on Thursday's stress test results？
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","text":"Hodl?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123159697","repostId":"2145061593","repostType":4,"repost":{"id":"2145061593","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1624407780,"share":"https://ttm.financial/m/news/2145061593?lang=&edition=fundamental","pubTime":"2021-06-23 08:23","market":"us","language":"en","title":"Bitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'","url":"https://stock-news.laohu8.com/highlight/detail?id=2145061593","media":"Dow Jones","summary":"Crypto market wipes out $1.3 trillion since May peak\nBitcoin, the world's No. 1 cryptocurrency, fell","content":"<p>Crypto market wipes out $1.3 trillion since May peak</p>\n<p>Bitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.</p>\n<p>After falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.</p>\n<p>Ether coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.</p>\n<p>\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.</p>\n<p>\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.</p>\n<p>Meanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.</p>\n<p>The decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.</p>\n<p>Crypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-23 08:23</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto market wipes out $1.3 trillion since May peak</p>\n<p>Bitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.</p>\n<p>After falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.</p>\n<p>Ether coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.</p>\n<p>\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.</p>\n<p>\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.</p>\n<p>Meanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.</p>\n<p>The decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.</p>\n<p>Crypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145061593","content_text":"Crypto market wipes out $1.3 trillion since May peak\nBitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.\nAfter falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.\nEther coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.\n\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.\n\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.\nMeanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.\nThe decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.\nCrypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167309004,"gmtCreate":1624245166608,"gmtModify":1703831439213,"author":{"id":"3574304688795172","authorId":"3574304688795172","name":"jjj888","avatar":"https://static.tigerbbs.com/f43152246afc86c67497da6877c89daa","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574304688795172","authorIdStr":"3574304688795172"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/167309004","repostId":"1135860567","repostType":2,"repost":{"id":"1135860567","kind":"news","pubTimestamp":1624243350,"share":"https://ttm.financial/m/news/1135860567?lang=&edition=fundamental","pubTime":"2021-06-21 10:42","market":"us","language":"en","title":"Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines","url":"https://stock-news.laohu8.com/highlight/detail?id=1135860567","media":"WSJ","summary":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plan","content":"<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.</p>\n<p>More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.</p>\n<p>Selling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.</p>\n<p>But equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.</p>\n<p>The planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.</p>\n<p>“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”</p>\n<p>Peabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.</p>\n<p>AMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.</p>\n<p>It is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.</p>\n<p>Since exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.</p>\n<p>Express, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.</p>\n<p>On Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.</p>\n<p>Peabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.</p>\n<p>Jamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.</p>\n<p>“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”</p>\n<p>“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.</p>\n<p>Inflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.</p>\n<p>Individual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.</p>\n<p>Howard Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.</p>\n<p>Hertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.</p>\n<p>The bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.</p>\n<p>Adi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.</p>\n<p>“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTroubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 10:42 GMT+8 <a href=https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6><strong>WSJ</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with ...</p>\n\n<a href=\"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIG":"Transocean Ltd.","BTU":"Peabody","AMC":"AMC院线","EXPR":"Express, Inc."},"source_url":"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135860567","content_text":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.\nSelling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.\nBut equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.\nThe planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.\n“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”\nPeabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.\nAMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.\nIt is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.\nSince exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.\nExpress, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.\nOn Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.\nPeabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.\nJamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.\n“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”\n“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.\nInflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.\nIndividual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.\nHoward Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.\nHertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.\nThe bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.\nAdi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.\n“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167976450,"gmtCreate":1624244927770,"gmtModify":1703831432566,"author":{"id":"3574304688795172","authorId":"3574304688795172","name":"jjj888","avatar":"https://static.tigerbbs.com/f43152246afc86c67497da6877c89daa","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574304688795172","authorIdStr":"3574304688795172"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167976450","repostId":"1182485162","repostType":4,"repost":{"id":"1182485162","kind":"news","pubTimestamp":1624239697,"share":"https://ttm.financial/m/news/1182485162?lang=&edition=fundamental","pubTime":"2021-06-21 09:41","market":"us","language":"en","title":"What banks will stand out on Thursday's stress test results？","url":"https://stock-news.laohu8.com/highlight/detail?id=1182485162","media":"seekingalpha","summary":"Banks are expected to gain more autonomy in deciding how much capital they can return to shareholder","content":"<ul>\n <li>Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).</li>\n <li>That's expected to lead to much higher dividend and share repurchases at the nation's largest banks.</li>\n <li>In March, the Fed saidit will endthe temporary restrictions on banks' dividends and stock buybacks after June 30, assuming they pass the CCAR round of tests. In other words, for banks that pass the test, the stress capital buffer framework will mainly determine how much they're allowed to pay out to shareholders.</li>\n <li>\"Capital has rebuilt after the '20 provision cycle and banks are set to resume dividend growth and increase buybacks,\" writes Jefferies analyst Ken Usdin.</li>\n <li>In a report titled \"Save Your (CCAR) Fears for Another Day,\" Evercore ISI analysts led by Glenn Schorr expect trust banks to have the highest payouts, followed by universal banks, regionals & brokers, and cards/consumers.</li>\n <li>They see total payout ratios rising across all subsectors with the group average at ~2x that of last year to 109%; they expect Bank of New York Mellon(NYSE:BK)(127%), Bank of America(NYSE:BAC)(138%), Wells Fargo(NYSE:WFC)(167%), Goldman Sachs(NYSE:GS)(112%), and Discover Financial(NYSE:DFS)(100%) to lead their respective subsectors.</li>\n <li>The supplementary leverage ratio may also constrain some banks, points out Wolfe Research's Steve Chubak. With the expiration of the SLR temporary relief on March 31, SLR may be a binding constraint for JPMorgan Chase(NYSE:JPM)and Morgan Stanley(NYSE:MS), he writes in a note to clients.</li>\n <li>Of the banks Chubak follows, WFC, MS (even with the SLR constraint), Goldman Sachs (GS), and BAC screen best for capital return capacity. He sees WFC's next twelve months (NTM) capital return capacity (defined by excess capital + NTM earnings) at 14%, with MS, GS and BAC at 12%.</li>\n <li>Chubak expects 2021 CCAR winners to be Goldman and MS as they could see declines in their SCBs.</li>\n <li>Jefferies' Usdin and other analysts calculated banks' share repurchase capacity, both by total amount and percentage of market cap. By total amount JPM comes out on top with $7.46B capacity for buybacks, followed by Bank of America with $3.96B and Citigroup(NYSE:C)with $3.16B.</li>\n <li>By percentage of market cap, Santander Consumer USA's $347M buyback capacity amounts to 2.9% of its market cap, followed by Goldman's $3.34B capacity at 2.6%, Ally Financial's(NYSE:ALLY)$479M at 2.4%, and Capital One Financial's(NYSE:COF)$1.66B at 2.3%.</li>\n <li>For an explainer on supplementary leverage ratio,click here.</li>\n <li>Other banks subject to this year's stress test are: American Express(NYSE:AXP), M&T Bank(NYSE:MTB), Citizens Financial Group(NYSE:CFG), Fifth Third Bancorp(NASDAQ:FITB), Northern Trust(NASDAQ:NTRS), PNC Financial(NYSE:PNC), State Street(NYSE:STT), U.S. Bancorp(NYSE:USB), Truist Financial(NYSE:TFC), Huntington Bancshares(NASDAQ:HBAN), Key Bancorp(NYSE:KEY), and Regions Financial(NYSE:RF).</li>\n <li>In the YTD period,Wells Fargo's total return outpacesthe other biggest banks with a 52% return, followed by Goldman at 42%, BofA at 39%, Morgan Stanley at 34%, JPMorgan at 25% and Citi at 18% as seen in chart below.</li>\n <li>SA contributor Portfolio Navigator raises its price target for Wells Fargoon the expectation of a big dividend increase this month.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What banks will stand out on Thursday's stress test results？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat banks will stand out on Thursday's stress test results？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 09:41 GMT+8 <a href=https://seekingalpha.com/news/3707413-stress-test-preview><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).\nThat's ...</p>\n\n<a href=\"https://seekingalpha.com/news/3707413-stress-test-preview\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FITB":"五三银行","ALLY":"Ally Financial Inc.","MTB":"美国制商银行","NTRS":"北方信托公司","AXP":"美国运通","WFC":"富国银行","CFG":"Citizens Financial Group"},"source_url":"https://seekingalpha.com/news/3707413-stress-test-preview","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1182485162","content_text":"Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).\nThat's expected to lead to much higher dividend and share repurchases at the nation's largest banks.\nIn March, the Fed saidit will endthe temporary restrictions on banks' dividends and stock buybacks after June 30, assuming they pass the CCAR round of tests. In other words, for banks that pass the test, the stress capital buffer framework will mainly determine how much they're allowed to pay out to shareholders.\n\"Capital has rebuilt after the '20 provision cycle and banks are set to resume dividend growth and increase buybacks,\" writes Jefferies analyst Ken Usdin.\nIn a report titled \"Save Your (CCAR) Fears for Another Day,\" Evercore ISI analysts led by Glenn Schorr expect trust banks to have the highest payouts, followed by universal banks, regionals & brokers, and cards/consumers.\nThey see total payout ratios rising across all subsectors with the group average at ~2x that of last year to 109%; they expect Bank of New York Mellon(NYSE:BK)(127%), Bank of America(NYSE:BAC)(138%), Wells Fargo(NYSE:WFC)(167%), Goldman Sachs(NYSE:GS)(112%), and Discover Financial(NYSE:DFS)(100%) to lead their respective subsectors.\nThe supplementary leverage ratio may also constrain some banks, points out Wolfe Research's Steve Chubak. With the expiration of the SLR temporary relief on March 31, SLR may be a binding constraint for JPMorgan Chase(NYSE:JPM)and Morgan Stanley(NYSE:MS), he writes in a note to clients.\nOf the banks Chubak follows, WFC, MS (even with the SLR constraint), Goldman Sachs (GS), and BAC screen best for capital return capacity. He sees WFC's next twelve months (NTM) capital return capacity (defined by excess capital + NTM earnings) at 14%, with MS, GS and BAC at 12%.\nChubak expects 2021 CCAR winners to be Goldman and MS as they could see declines in their SCBs.\nJefferies' Usdin and other analysts calculated banks' share repurchase capacity, both by total amount and percentage of market cap. By total amount JPM comes out on top with $7.46B capacity for buybacks, followed by Bank of America with $3.96B and Citigroup(NYSE:C)with $3.16B.\nBy percentage of market cap, Santander Consumer USA's $347M buyback capacity amounts to 2.9% of its market cap, followed by Goldman's $3.34B capacity at 2.6%, Ally Financial's(NYSE:ALLY)$479M at 2.4%, and Capital One Financial's(NYSE:COF)$1.66B at 2.3%.\nFor an explainer on supplementary leverage ratio,click here.\nOther banks subject to this year's stress test are: American Express(NYSE:AXP), M&T Bank(NYSE:MTB), Citizens Financial Group(NYSE:CFG), Fifth Third Bancorp(NASDAQ:FITB), Northern Trust(NASDAQ:NTRS), PNC Financial(NYSE:PNC), State Street(NYSE:STT), U.S. Bancorp(NYSE:USB), Truist Financial(NYSE:TFC), Huntington Bancshares(NASDAQ:HBAN), Key Bancorp(NYSE:KEY), and Regions Financial(NYSE:RF).\nIn the YTD period,Wells Fargo's total return outpacesthe other biggest banks with a 52% return, followed by Goldman at 42%, BofA at 39%, Morgan Stanley at 34%, JPMorgan at 25% and Citi at 18% as seen in chart below.\nSA contributor Portfolio Navigator raises its price target for Wells Fargoon the expectation of a big dividend increase this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":167309004,"gmtCreate":1624245166608,"gmtModify":1703831439213,"author":{"id":"3574304688795172","authorId":"3574304688795172","name":"jjj888","avatar":"https://static.tigerbbs.com/f43152246afc86c67497da6877c89daa","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574304688795172","authorIdStr":"3574304688795172"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/167309004","repostId":"1135860567","repostType":2,"repost":{"id":"1135860567","kind":"news","pubTimestamp":1624243350,"share":"https://ttm.financial/m/news/1135860567?lang=&edition=fundamental","pubTime":"2021-06-21 10:42","market":"us","language":"en","title":"Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines","url":"https://stock-news.laohu8.com/highlight/detail?id=1135860567","media":"WSJ","summary":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plan","content":"<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.</p>\n<p>More companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.</p>\n<p>Selling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.</p>\n<p>But equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.</p>\n<p>The planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.</p>\n<p>“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”</p>\n<p>Peabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.</p>\n<p>AMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.</p>\n<p>It is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.</p>\n<p>Since exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.</p>\n<p>Express, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.</p>\n<p>On Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.</p>\n<p>Peabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.</p>\n<p>Jamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.</p>\n<p>“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”</p>\n<p>“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.</p>\n<p>Inflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.</p>\n<p>Individual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.</p>\n<p>Howard Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.</p>\n<p>Hertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.</p>\n<p>The bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.</p>\n<p>Adi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.</p>\n<p>“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTroubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 10:42 GMT+8 <a href=https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6><strong>WSJ</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with ...</p>\n\n<a href=\"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIG":"Transocean Ltd.","BTU":"Peabody","AMC":"AMC院线","EXPR":"Express, Inc."},"source_url":"https://www.wsj.com/articles/troubled-companies-take-page-from-amc-playbook-in-seeking-stock-market-lifelines-11624190402?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135860567","content_text":"The frenzied stock-buying activity that may have saved AMC Entertainment Holdings Inc.from bankruptcy is opening up a potential escape hatch for other troubled borrowers as well.\nMore companies with steep financial challenges are seeking a lifeline from equity markets, eager to capitalize on thesurge of interest in stock buyingfrom nonprofessional investors. Earlier this month, coal miner Peabody Energy Corp.,offshore drilling contractor Transocean Ltd.and retailer Express Inc.,all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.\nSelling stock isn’t the typical way for distressed companies to grab a lifeline. More often, they are forced to seek out rescue loans, sell off assets or pursue a merger, which can be difficult because of their existing debt.\nBut equity markets now are more open to supporting troubled issuers, in large part because of risk-hungry individual investors eager to speculate, according to bankers and investors following the trend.\nThe planned equity sales, if successful, mark another way nonprofessional investors have reshaped financial markets since they began to demonstrate their collective power last year,creating opportunitiesfor finance executives in the process.\n“It’s a new phenomenon for some of these distressed companies,” said Scott Hartman, partner and co-head of corporate and traded credit at asset manager Värde Partners. “If I were in their seat, it makes a lot of sense to take equity capital when they can.”\nPeabody,Transoceanand Express are seeking to replicate—on a smaller scale—the capital-raising success of AMC, a favorite pick of individual investors who gather in online investing forums such as Reddit’s WallStreetBets.\nAMC raised $2.2 billionthrough several stock salesduring the pandemic, largely to an enthusiastic following of day traders, despite warnings it was at risk of bankruptcy.\nIt is difficult to classify even a highly leveraged company as distressed when its access to equity is “seemingly infinite,” said Andy Moore, chief executive of B. Riley Securities Inc. His firm is acting as sales agent for Peabody, which earlier this month kicked off an effort to sell up to 12.5 million shares through an “at-the-market” offering. In such offerings, companies sell shares bit-by-bit at market prices in a manner that is accessible to individual investors as well as institutional ones.\nSince exiting bankruptcy in 2017, Peabody has faced difficulties as utilities rely less on coal, and it restructured debt in February to avert a default. The company’s bonds trade at discounts of between 69 and 78 cents on the dollar, indicating market doubts they will be fully repaid. It reported an $80 million net loss in the first quarter amid continued weak conditions for the coal industry.\nExpress, the apparel retailer, borrowed money from private-equity firm Sycamore Partners in January to stockpile cash for surviving the pandemic. Then the company launched an ATM stock sale earlier this month, aiming to sell up to 15 million new shares, despite reporting a loss of $405 million for the last fiscal year as a result of the pandemic and its impact on shopping.\nOn Tuesday, offshore drillerTransoceanjoined in with an offering of up to $400 million in shares despite a junk credit rating, more than $7 billion in debt, andongoing creditor litigationover its restructuring efforts last year.\nPeabody and Express didn’t respond to requests for comment. Transocean referred inquiries to its securities filings.\nJamie Zimmerman, founder and CEO of hedge-fund manager Litespeed Management LLC, said that some troubled companies may be unable to raise new debt, and selling stock may be their only path to obtain financing.\n“You don’t get unless you ask,” said Dan Zwirn, founder and chief executive of asset manager Arena Investors LP. “If I’m structurally insolvent and can’t refinance myself into extending the life of the enterprise, I might as well take this shot.”\n“With this infusion of retail people, there are more counterparties for such a transaction,” Mr. Zwirn added.\nInflows of capital from individual investors, some using money from federal stimulus funds to open trading accounts, have buoyed the broader stock market, driving gains of more than10% year-to-datefor the Dow Jones Industrial Average and Nasdaq Composite Index.\nIndividual investors’ share of overall U.S. equities trading volume rose last year to roughly double what it was a decade before andcontinues to grow. At times, their bets on beaten-down stocks havebeat out institutional investors.\nHoward Fischer, a securities lawyer with Moses & Singer LLP, said that the underlying economic health now seems less important than the unbridled enthusiasm of individual investors, even if that enthusiasm is divorced from any rational economic analysis.\nHertz Global Holdings Inc.tried to ride a wave of interest from retail traders to finance itself last year while it was under bankruptcy protection, and ended up scrapping the effort under pressure from the Securities and Exchange Commission.\nThe bullish individual investors who bet on the business shortly after it filed for chapter 11 were vindicated when Hertz found buyers agreeing to pay up to $8 a share in value.\nAdi Habbu, a director on the credit trading desk atBarclays PLC,said widespread bullishness in equity markets goes beyond retail traders, and is fueled by the economic recovery and the easing of pandemic restrictions.\n“It’s certainly not a bad time to try,” he said. “The core trend is that there is positive reopening sentiment that is driven not just by retail but by institutional players as well.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123159697,"gmtCreate":1624413112219,"gmtModify":1703835900847,"author":{"id":"3574304688795172","authorId":"3574304688795172","name":"jjj888","avatar":"https://static.tigerbbs.com/f43152246afc86c67497da6877c89daa","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574304688795172","authorIdStr":"3574304688795172"},"themes":[],"htmlText":"Hodl? ","listText":"Hodl? ","text":"Hodl?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123159697","repostId":"2145061593","repostType":4,"repost":{"id":"2145061593","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1624407780,"share":"https://ttm.financial/m/news/2145061593?lang=&edition=fundamental","pubTime":"2021-06-23 08:23","market":"us","language":"en","title":"Bitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'","url":"https://stock-news.laohu8.com/highlight/detail?id=2145061593","media":"Dow Jones","summary":"Crypto market wipes out $1.3 trillion since May peak\nBitcoin, the world's No. 1 cryptocurrency, fell","content":"<p>Crypto market wipes out $1.3 trillion since May peak</p>\n<p>Bitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.</p>\n<p>After falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.</p>\n<p>Ether coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.</p>\n<p>\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.</p>\n<p>\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.</p>\n<p>Meanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.</p>\n<p>The decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.</p>\n<p>Crypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin breaks below $30,000 for first time since January and 'it is likely we may see more panic in the market'\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-23 08:23</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto market wipes out $1.3 trillion since May peak</p>\n<p>Bitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.</p>\n<p>After falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.</p>\n<p>Ether coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.</p>\n<p>\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.</p>\n<p>\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.</p>\n<p>Meanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.</p>\n<p>The decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.</p>\n<p>Crypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145061593","content_text":"Crypto market wipes out $1.3 trillion since May peak\nBitcoin, the world's No. 1 cryptocurrency, fell to its lowest level since January on Tuesday, extending a price drop that has wiped out more than $1.3 trillion in market value for the broader crypto complex since a peak in May.\nAfter falling as low as $29,083 on Tuesday morning, bitcoin was changing hands at nearly $32,000 by Tuesday evening, according to CoinDesk data. The day's nadir marked its lowest price and its first breach of the psychologically significant $30,000 level since January, according to Dow Jones Market Data. Bitcoin is down more than 50% from its mid-April peak, paring its year-to-date gain to 10.4%.\nEther coin on the Ethereum blockchain, the No. 2 most valued crypto, was deepening a slide below $2,000 and trading at $1,874 on Tuesday evening. Ether is down about 60% from its peak, though it is up 150% on the year to date.\n\"Bitcoin has violated an important support level and it is likely that we may see more panic in the market as investors will think that it may be the end of Bitcoin,\" wrote Naeem Aslam, chief market analyst at AvaTrade in a Tuesday note.\n\"But investors should remember that Bitcoin is a kind of asset which has fought many similar pessimistic views many times. The current sell off could be the opportunity for many investors to load their portfolio with Bitcoin which is selling at a huge discount,\" the analyst wrote.\nMeanwhile, dogecoin, the popular meme asset, was changing hands at around 19 cents, 2 cents above its daily low and down 75% from its early May peak.\nThe decline for the crypto has been attributed to regulatory action by China, where regulators have imposed restrictions on digital mining and trading of crypto in the People's Republic.\nCrypto's price correction also comes as traditional markets are trying to recover from a brutal selloff last week. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index saw a powerful rebound from last week's slide on Monday as digital assets sank, leading some analysts to speculate that bitcoin might be experiencing a rotation out of the crypto and into equities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167976450,"gmtCreate":1624244927770,"gmtModify":1703831432566,"author":{"id":"3574304688795172","authorId":"3574304688795172","name":"jjj888","avatar":"https://static.tigerbbs.com/f43152246afc86c67497da6877c89daa","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574304688795172","authorIdStr":"3574304688795172"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167976450","repostId":"1182485162","repostType":4,"repost":{"id":"1182485162","kind":"news","pubTimestamp":1624239697,"share":"https://ttm.financial/m/news/1182485162?lang=&edition=fundamental","pubTime":"2021-06-21 09:41","market":"us","language":"en","title":"What banks will stand out on Thursday's stress test results？","url":"https://stock-news.laohu8.com/highlight/detail?id=1182485162","media":"seekingalpha","summary":"Banks are expected to gain more autonomy in deciding how much capital they can return to shareholder","content":"<ul>\n <li>Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).</li>\n <li>That's expected to lead to much higher dividend and share repurchases at the nation's largest banks.</li>\n <li>In March, the Fed saidit will endthe temporary restrictions on banks' dividends and stock buybacks after June 30, assuming they pass the CCAR round of tests. In other words, for banks that pass the test, the stress capital buffer framework will mainly determine how much they're allowed to pay out to shareholders.</li>\n <li>\"Capital has rebuilt after the '20 provision cycle and banks are set to resume dividend growth and increase buybacks,\" writes Jefferies analyst Ken Usdin.</li>\n <li>In a report titled \"Save Your (CCAR) Fears for Another Day,\" Evercore ISI analysts led by Glenn Schorr expect trust banks to have the highest payouts, followed by universal banks, regionals & brokers, and cards/consumers.</li>\n <li>They see total payout ratios rising across all subsectors with the group average at ~2x that of last year to 109%; they expect Bank of New York Mellon(NYSE:BK)(127%), Bank of America(NYSE:BAC)(138%), Wells Fargo(NYSE:WFC)(167%), Goldman Sachs(NYSE:GS)(112%), and Discover Financial(NYSE:DFS)(100%) to lead their respective subsectors.</li>\n <li>The supplementary leverage ratio may also constrain some banks, points out Wolfe Research's Steve Chubak. With the expiration of the SLR temporary relief on March 31, SLR may be a binding constraint for JPMorgan Chase(NYSE:JPM)and Morgan Stanley(NYSE:MS), he writes in a note to clients.</li>\n <li>Of the banks Chubak follows, WFC, MS (even with the SLR constraint), Goldman Sachs (GS), and BAC screen best for capital return capacity. He sees WFC's next twelve months (NTM) capital return capacity (defined by excess capital + NTM earnings) at 14%, with MS, GS and BAC at 12%.</li>\n <li>Chubak expects 2021 CCAR winners to be Goldman and MS as they could see declines in their SCBs.</li>\n <li>Jefferies' Usdin and other analysts calculated banks' share repurchase capacity, both by total amount and percentage of market cap. By total amount JPM comes out on top with $7.46B capacity for buybacks, followed by Bank of America with $3.96B and Citigroup(NYSE:C)with $3.16B.</li>\n <li>By percentage of market cap, Santander Consumer USA's $347M buyback capacity amounts to 2.9% of its market cap, followed by Goldman's $3.34B capacity at 2.6%, Ally Financial's(NYSE:ALLY)$479M at 2.4%, and Capital One Financial's(NYSE:COF)$1.66B at 2.3%.</li>\n <li>For an explainer on supplementary leverage ratio,click here.</li>\n <li>Other banks subject to this year's stress test are: American Express(NYSE:AXP), M&T Bank(NYSE:MTB), Citizens Financial Group(NYSE:CFG), Fifth Third Bancorp(NASDAQ:FITB), Northern Trust(NASDAQ:NTRS), PNC Financial(NYSE:PNC), State Street(NYSE:STT), U.S. Bancorp(NYSE:USB), Truist Financial(NYSE:TFC), Huntington Bancshares(NASDAQ:HBAN), Key Bancorp(NYSE:KEY), and Regions Financial(NYSE:RF).</li>\n <li>In the YTD period,Wells Fargo's total return outpacesthe other biggest banks with a 52% return, followed by Goldman at 42%, BofA at 39%, Morgan Stanley at 34%, JPMorgan at 25% and Citi at 18% as seen in chart below.</li>\n <li>SA contributor Portfolio Navigator raises its price target for Wells Fargoon the expectation of a big dividend increase this month.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat banks will stand out on Thursday's stress test results？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 09:41 GMT+8 <a href=https://seekingalpha.com/news/3707413-stress-test-preview><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).\nThat's ...</p>\n\n<a href=\"https://seekingalpha.com/news/3707413-stress-test-preview\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FITB":"五三银行","ALLY":"Ally Financial Inc.","MTB":"美国制商银行","NTRS":"北方信托公司","AXP":"美国运通","WFC":"富国银行","CFG":"Citizens Financial Group"},"source_url":"https://seekingalpha.com/news/3707413-stress-test-preview","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1182485162","content_text":"Banks are expected to gain more autonomy in deciding how much capital they can return to shareholders when the FederalReserve releases the results of banks' stress tests on Thursday (June 24).\nThat's expected to lead to much higher dividend and share repurchases at the nation's largest banks.\nIn March, the Fed saidit will endthe temporary restrictions on banks' dividends and stock buybacks after June 30, assuming they pass the CCAR round of tests. In other words, for banks that pass the test, the stress capital buffer framework will mainly determine how much they're allowed to pay out to shareholders.\n\"Capital has rebuilt after the '20 provision cycle and banks are set to resume dividend growth and increase buybacks,\" writes Jefferies analyst Ken Usdin.\nIn a report titled \"Save Your (CCAR) Fears for Another Day,\" Evercore ISI analysts led by Glenn Schorr expect trust banks to have the highest payouts, followed by universal banks, regionals & brokers, and cards/consumers.\nThey see total payout ratios rising across all subsectors with the group average at ~2x that of last year to 109%; they expect Bank of New York Mellon(NYSE:BK)(127%), Bank of America(NYSE:BAC)(138%), Wells Fargo(NYSE:WFC)(167%), Goldman Sachs(NYSE:GS)(112%), and Discover Financial(NYSE:DFS)(100%) to lead their respective subsectors.\nThe supplementary leverage ratio may also constrain some banks, points out Wolfe Research's Steve Chubak. With the expiration of the SLR temporary relief on March 31, SLR may be a binding constraint for JPMorgan Chase(NYSE:JPM)and Morgan Stanley(NYSE:MS), he writes in a note to clients.\nOf the banks Chubak follows, WFC, MS (even with the SLR constraint), Goldman Sachs (GS), and BAC screen best for capital return capacity. He sees WFC's next twelve months (NTM) capital return capacity (defined by excess capital + NTM earnings) at 14%, with MS, GS and BAC at 12%.\nChubak expects 2021 CCAR winners to be Goldman and MS as they could see declines in their SCBs.\nJefferies' Usdin and other analysts calculated banks' share repurchase capacity, both by total amount and percentage of market cap. By total amount JPM comes out on top with $7.46B capacity for buybacks, followed by Bank of America with $3.96B and Citigroup(NYSE:C)with $3.16B.\nBy percentage of market cap, Santander Consumer USA's $347M buyback capacity amounts to 2.9% of its market cap, followed by Goldman's $3.34B capacity at 2.6%, Ally Financial's(NYSE:ALLY)$479M at 2.4%, and Capital One Financial's(NYSE:COF)$1.66B at 2.3%.\nFor an explainer on supplementary leverage ratio,click here.\nOther banks subject to this year's stress test are: American Express(NYSE:AXP), M&T Bank(NYSE:MTB), Citizens Financial Group(NYSE:CFG), Fifth Third Bancorp(NASDAQ:FITB), Northern Trust(NASDAQ:NTRS), PNC Financial(NYSE:PNC), State Street(NYSE:STT), U.S. Bancorp(NYSE:USB), Truist Financial(NYSE:TFC), Huntington Bancshares(NASDAQ:HBAN), Key Bancorp(NYSE:KEY), and Regions Financial(NYSE:RF).\nIn the YTD period,Wells Fargo's total return outpacesthe other biggest banks with a 52% return, followed by Goldman at 42%, BofA at 39%, Morgan Stanley at 34%, JPMorgan at 25% and Citi at 18% as seen in chart below.\nSA contributor Portfolio Navigator raises its price target for Wells Fargoon the expectation of a big dividend increase this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
