Core Insights - The wine industry is experiencing a significant demand-based correction, marking the first such change in three decades, driven by a generational shift towards younger consumers [3] - Despite an overall decline in global wine demand, the premium wine segment shows resilience, with the top quartile of wineries achieving an average sales growth of 22% [2][8] - The market environment is expected to lead to the most accessible bottle pricing in the last 30 years, benefiting consumers seeking value [2] Market Trends - Total wine category sales are projected to end 2024 with negative volume growth between -3% and -1%, while the weighted average of wineries experienced a 3.4% revenue decline [8] - No- and low-alcohol wines, as well as white wine and prosecco, are witnessing positive growth, indicating a shift in consumer preferences [4] - The youngest consumers are increasingly abstaining from wine or opting for alternatives, a trend expected to continue into 2025 and beyond [4][5] Consumer Behavior - Older consumers (60+) who traditionally purchase more wine are being replaced by younger consumers who have lower purchasing indices and prefer other drink categories [5] - To restore balance between demand and supply, it is critical to increase consumption among consumers aged 30-45 [5] Industry Challenges - Wine supply is currently backed up throughout production and sales channels, creating challenges for industry players [2] - Tasting room visitation is predicted to be slightly lower in 2025 compared to 2024, indicating potential difficulties in attracting consumers [8] - 42% of winery survey respondents plan to implement small price increases in 2025, which may be challenging in an oversupplied market [8]

Core Viewpoint - Analysts expect First Citizens BancShares (FCNCA) to report quarterly earnings of $39.46 per share, reflecting a year-over-year decline of 15.3%, with revenues projected at $2.23 billion, down 9% from the previous year [1] Earnings Estimates - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [2] Key Metrics Projections - Analysts estimate an 'Efficiency Ratio' of 58.2%, down from 60.8% a year ago [4] - 'Net Interest Margin' is expected to be 3.3%, compared to 3.9% in the previous year [4] - 'Average Balance - Total interest-earning assets' is projected at $203.62 billion, up from $196.25 billion a year ago [4] Loan and Asset Estimates - 'Nonaccrual loans at period end' are projected to reach $1.31 billion, up from $969 million in the same quarter last year [5] - 'Total nonperforming assets' are expected to be $1.35 billion, compared to $1.03 billion a year ago [5] Income Estimates - 'Net Interest Income' is projected at $1.70 billion, down from $1.91 billion a year ago [6] - 'Merchant services, net' is estimated at $12.03 million, slightly up from $12 million in the same quarter last year [6] - 'Cardholder services, net' is expected to reach $41.96 million, compared to $36 million a year ago [6] Service Charges and Fees - 'Service charges on deposit accounts' are expected to be $45.34 million, up from $44 million in the same quarter last year [7] - 'Factoring commissions' are projected at $18.91 million, down from $22 million a year ago [7] - 'International fees' are expected to be $29.48 million, slightly down from $30 million in the previous year [8] - 'Fee income and other service charges' are projected at $81.27 million, up from $80 million a year ago [8] Stock Performance - Shares of First Citizens have returned +2.7% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.4% [8]

The market expects First Citizens BancShares (FCNCA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected ...

SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Linea Energy ("Linea"), a renewables-focused developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), is pleased to announce closing of project debt financing for its Pineview Solar project ("Pineview") this past December. Pineview is a 109MWdc utility-scale solar energy facility located in Wilcox County, Georgia. The Pineview debt financing comprises a construction-to-term loan, a tax equity bridge loan, and a letter of cred ...

New report finds $5.6 billion invested in biopharma AI in 2024SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Venture Capital (VC) investment in healthcare grew to $23 billion in 2024, from $20 billion in 2023, as artificial intelligence (AI) clearly established product fit in the healthcare sector, according to the latest market insights report from Silicon Valley Bank (SVB), a division of First Citizens Bank. AI continues to take center stage, especially across biopharma, with 30% of healthcare investment in ...

WALTHAM, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today announced that it has entered into a term loan facility with Silicon Valley Bank (SVB), a division of First Citizens Bank, for up to $52.5 million. The first tranche of $32.5 million, advanced at loan closing, will be used to retire the existing ...

Financing and Partnership - Silicon Valley Bank (SVB) provided $35 million in debt financing to Squire Technologies Inc, a leading management and point of sale (POS) system for barbershops [1] - The financing aims to help Squire drive innovation, expand its platform, streamline operational efficiency, and grow revenue for barber businesses [2] - SVB expanded its initial credit facility to support Squire's growth and scaling efforts [4] Squire Technologies Overview - Squire Technologies was founded in 2015 by Songe LaRon and Dave Salvant [3] - The company provides a comprehensive business management platform for barbershops, including CRM, appointment management, analytics, and POS systems [3] - Squire's platform helps barber businesses attract and retain customers, manage operations, increase revenue, and handle appointments and services in one place [3] - Squire is trusted by barbers in over 3,000 shops and processes over $1 billion in payments across more than a thousand cities globally [6] Industry Impact - Squire's platform is tailored to the specific needs of barbershops, enabling business owners to effectively manage clientele, payment operations, and overall business success [4] - The company supports shop owners in bridging the gap between their personal craft and business goals through tools like streamlined booking, real-time earning dashboards, and customer relationship building [6] Silicon Valley Bank Background - SVB, a division of First Citizens Bank, specializes in providing commercial banking to innovative companies in technology, life science, healthcare, private equity, and venture capital industries [5] - SVB operates in innovation centers across the United States, leveraging deep sector expertise and connections to serve its clients [5] - SVB's parent company, First Citizens BancShares, Inc, is a top 20 U S financial institution with over $200 billion in assets [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 Indicate by check mark whether the registrant (1) has fi ...

As we enter one of the most tumultuous weeks of 2024, the familiar drumbeat of election-year predictions has reached a fever pitch.From Florida, where hurricanes have already made this a stormy year, the view of the national landscape reveals a stark contrast between perception and reality.While internet pundits promise everything from democratic salvation to impending doom, the actual economic indicators tell a more nuanced story.Here's the truth – and two stocks set to profit from it.Despite dire predicti ...

Financing provided by SVB's Enterprise Software Group SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided a $50 million growth capital facility to Bugcrowd, a leading provider of crowdsourced cybersecurity solutions. Bugcrowd brings the collective ingenuity of organizations and hackers to mitigate vulnerabilities across all applications, systems, and infrastructure.Provided by SVB's Enterprise Software Group, the new fina ...