BUFFALO, N.Y., Aug. 14, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) will participate in the Barclays Global Financial Services Conference being held in New York City.  Representatives of M&T are scheduled to deliver a presentation to investors and analysts on September 11, 2024, at 8:15 a.m. (ET).A link to the webcast will be available at https://ir.mtb.com/events-presentations.  The webcast may contain material information as well as forward-looking information, and cautionary statements r ...

PM Images Introduction Barclays PLC (NYSE:BCS) reported 2Q24 results on August 01, 2024. My initial impression was that the numbers were solid, with Barclays UK driving upgraded net interest income guidance, good cost outcomes, and the announcement of a further £750m share buyback. The update appeared to be well-received by the market during the London Stock Exchange ("LSE") morning session, but later in the day, Barclays shares joined other UK banks in a downward trajectory triggered by the Bank of England ...

ORRVILLE, Ohio, Aug. 7, 2024 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) will release its first quarter fiscal 2025 financial results on Wednesday, August 28, 2024. A press release, including financial statements and segment information, supplemental materials, pre-recorded management remarks, and a transcript of the pre-recorded remarks will be available beginning at 7:00 a.m. Eastern Time. The Company will webcast a live question and answer session with Mark Smucker, Chair of the Board, President and ...

Core Insights - Barclays has raised price targets for several stocks, indicating improved financial health or favorable trends in the industry, which often leads to increased investor interest [1] Group 1: First Solar (FSLR) - First Solar's price target was raised from $280 to $290, with an overweight rating, as the stock is currently consolidating at $213 [2] - The company reported a net income of $349 million, or $3.25 per share, more than doubling from $171 million, or $1.59 year over year, with revenue increasing by 25% to $1.01 billion [2] - Analysts expect pricing upside in the second half of 2024 and early 2025, presenting a strong buying opportunity following recent selloffs [2][3] Group 2: Qualcomm (QCOM) - Qualcomm's price target was increased from $185 to $200, supported by a strong quarterly performance where EPS was $2.33, beating estimates by seven cents, and revenue reached $9.39 billion, up 11.3% year over year [4] - The company anticipates fourth-quarter earnings between $2.45 and $2.65 per share, with revenue expected between $9.5 billion and $10.3 billion [4] - Analysts predict that generative AI smartphone shipments could account for 70% of the market by 2028, which is favorable for Qualcomm [4][5] Group 3: Rivian (RIVN) - Rivian's price target was raised to $16 with an equal weight rating, bolstered by a $5 billion partnership with Volkswagen to develop next-generation electric architecture and software technology [6] - This partnership significantly extends Rivian's liquidity runway and mitigates investment risks, addressing concerns over the company's losses and cash burn [6] - Global electric vehicle sales are improving, with notable increases in sales from major automakers, indicating a positive trend for Rivian [7]

Exhibit 99.1 Barclays PLC This exhibit includes portions from the previously published Results Announcement of Barclays PLC relating to the three months ended 30 June 2024, as amended in part to comply with the requirements of Regulation G and Item 10(e) of Regulation S-K promulgated by the US Securities and Exchange Commission (SEC), including the reconciliation of certain financial information to comparable measures prepared in accordance with International Financial Reporting Standards (IFRS). The purpos ...

Financial Data and Key Metrics Changes - Return on tangible equity (RoTE) was 9.9% in Q2 and 11.1% for the first half, on track for the target of above 10% in 2024 [5][13] - Total income for Q2 was GBP6.3 billion, and GBP13.3 billion for the first half, with a 1% year-on-year increase [5][14] - Net interest income (NII) guidance for 2024 increased from GBP10.7 billion to approximately GBP11 billion [5][16] - Cost-to-income ratio was 63% in Q2 and 62% for the first half, with a target of around 63% for 2024 [5][18] Business Line Data and Key Metrics Changes - Barclays UK reported a RoTE of 22.3% for Q2, with total income of GBP1.9 billion [8][21] - UK Corporate Bank delivered a RoTE of 18% in Q2, with income down 6% year-on-year at GBP443 million [9][25] - Private Banking & Wealth Management achieved a RoTE of 30.8%, with client assets and liabilities growing by 14% year-on-year [9][26] - Investment Bank RoTE was 9.6%, with total income of GBP3 billion, up 10% year-on-year [10][27] - U.S. Consumer Bank RoTE improved to 9.2%, with income growth of 7% [11][31] Market Data and Key Metrics Changes - Barclays UK's deposits stabilized faster than anticipated, with savings broadly flat quarter-on-quarter [8][23] - The U.S. Consumer Bank's card balances increased by $1.7 billion year-on-year to $31.2 billion [31] - Investment Banking fee income was up 45% year-on-year, indicating a strong performance across products [10][30] Company Strategy and Development Direction - The company aims to grow returns with a target RoTE of above 12% by 2026 and plans to return at least GBP10 billion to shareholders between 2024 and 2026 [4][6] - A focus on improving operational and financial performance across all divisions, with a commitment to reducing risk-weighted assets (RWAs) in the investment bank from 58% to around 50% by 2026 [4][6] - The acquisition of Tesco's retail banking business is progressing well, expected to complete in November, contributing to the RWA target [8][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of income and credit performance, particularly in the UK [5][19] - The company anticipates continued growth in the U.S. Consumer Bank, with expectations for lower impairment charges in the second half of 2024 compared to 2023 [11][20] - Management remains focused on disciplined execution against the targets set in February, reiterating their commitment to capital distribution plans [35] Other Important Information - The CET1 ratio was 13.6%, comfortably within the target range of 13% to 14% [6][34] - A total payout of GBP1.2 billion for the first half of 2024 was announced, including a GBP0.029 dividend per share and a GBP750 million buyback [6][34] Q&A Session Summary Question: Cost structure and revenue performance in U.S. cards - Management indicated that structural costs were not significant and reiterated a cost guidance of around 63% for the year, with a focus on efficiency savings [39] - In the U.S. Consumer Bank, NII has fallen slightly due to seasonal factors and customer repayments, but management remains confident in achieving a NIM of greater than 12% by 2026 [40][41] Question: Follow-through on upgraded UK NII and RWA management - Management confirmed that the upgraded NII is based on stabilized deposits, but they are not adjusting 2026 targets at this time, focusing instead on disciplined execution [44][46] - The increase in RWAs was described as temporary, with expectations for a more meaningful change in RWA allocation from Q4 onwards [60] Question: U.S. consumer cards credit quality and UK performance - Management acknowledged an increase in non-performing loans but emphasized proactive reserve building and expected lower impairments in the second half of 2024 [66] - The company anticipates asset growth in Barclays UK, which will moderate returns but is seen as a positive shift towards growing the asset book [70]

Barclays’ (BCS) second-quarter 2024 net income attributable to ordinary equity holders of £1.24 billion ($1.56 billion) declined 7% year over year.The company recorded a rise in credit impairment charges, which hurt the results. However, an increase in revenues, a decline in operating expenses (showing the success of efficiency initiatives) and a solid balance sheet aided the results to some extent.Revenues Up, Expenses DipTotal income was £6.32 billion ($7.97 billion), up 1% year over year.Operating expens ...

One Churchill Place skyscraper, the Barclays Plc headquarters, at Canary Wharf in London, U.K., on Thursday, Jan. 7, 2021.LONDON — Barclays on Thursday reported second-quarter net profit attributable to shareholders of £1.2 billion ($1.54 billion), slightly lower than a year ago.Analysts polled by Reuters had expected attributable net profit of £1.03 billion for the quarter, according to LSEG data.Revenue came in at £6.3 billion in the second quarter, against a forecast of £6.25 billion.The British lender t ...

Core Points - Barclays US Consumer Bank has renewed its co-branded credit card program with Hawaiian Airlines, extending their partnership that began in 2013 [1] - The agreement includes the issuance of the Hawaiian Airlines World Elite Mastercard for consumers and the Hawaiian Airlines World Elite Business Mastercard for small businesses [1] - The partnership aims to enhance customer benefits and ensure continued growth in the credit card program [1] Company Overview - Barclays US Consumer Bank is a leading co-branded credit card issuer in the U.S., focusing on customized programs to enhance customer loyalty for various sectors [3] - Hawaiian Airlines is the largest and longest-serving airline in Hawaii, operating approximately 150 daily flights and offering nonstop services to 16 U.S. gateway cities [4] - Hawaiian Airlines has received accolades for its service quality, including being named the best U.S. airline by Travel + Leisure for two consecutive years and leading in on-time performance for 18 years [4] Credit Card Benefits - The Hawaiian Airlines World Elite Mastercard offers primary cardmembers two free checked bags, a $100 annual companion discount, and a 3/2/1 earn rate on purchases [2] - New cardmembers can earn 70,000 bonus HawaiianMiles after qualifying purchases [2] - The card features contactless technology and is made with recovered ocean-bound plastic, reflecting the airline's commitment to environmental sustainability [2]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps identify effective metrics for assessing momentum in stocks, addressing the debate on which indicators are reliable [1] Group 2: Barclays (BCS) Performance - Barclays currently holds a Momentum Style Score of A and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2][6] - Over the past week, BCS shares increased by 2.16%, while the Zacks Banks - Foreign industry remained flat, and over the past month, BCS rose by 13.38% compared to the industry's 3.68% [3] - In the last quarter, BCS shares rose by 16.7%, and over the past year, they increased by 41.92%, significantly outperforming the S&P 500's gains of 9.88% and 24.06% respectively [4] Group 3: Trading Volume and Earnings Outlook - BCS's average 20-day trading volume is 9,589,367 shares, indicating a bullish sign with rising stock prices and above-average volume [4] - Recent earnings estimates for BCS have shown positive revisions, with two estimates moving higher and one lower, raising the consensus estimate from $1.60 to $1.65 over the past 60 days [5]