The first time in American history, a completely partisan recessions bill was passed by Congress just hours after the Senate. The House voted to approve President Trump's $9 billion spending cut package. The bill claws back billions in previously approved congressional funding.Two Republicans joined all Democrats in voting against it. The majority of the cuts, $8 billion, comes from foreign assistance programs like migration and refugee assistance and USAID. Another $1.1% billion is being cut from the Corpo ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.42, representing an almost 14% increase over the prior quarter [7] - Net interest income remained stable at $575 million for the third consecutive quarter, with a modest two basis point reduction in net interest margin [14] - Capitalization strength was highlighted with an estimated CET1 of 11.94%, well above the 10% strategic target [6][18] Business Line Data and Key Metrics Changes - Average loans increased almost 1% and period-end loans rose approximately 3%, driven by new loan production for new and existing customers [9] - Non-interest income increased by $20 million, with growth across most customer line items due to higher loan volumes and seasonal benefits [15] - Expenses decreased by $23 million over the prior quarter, largely due to lower litigation-related expenses and salaries [16] Market Data and Key Metrics Changes - Average deposits declined just over 1%, with the largest decreases in retail, corporate banking, and technology and life sciences [11] - Non-interest bearing deposits as a percentage of total deposits remained flat at 38% for the fourth consecutive quarter, indicating stability in the funding mix [12] - The company expects full-year average deposits to decline by 2% to 3% in 2025, with a moderate increase in the third quarter balances anticipated [19] Company Strategy and Development Direction - The company is focused on strategic investments in small business, middle market, business banking, and payments to drive responsible growth [26] - The management emphasized the importance of maintaining a conservative approach to capital while supporting customer needs and driving growth [24] - The company plans to continue share repurchases and monitor the economic environment and regulatory landscape for future capital decisions [23] Management's Comments on Operating Environment and Future Outlook - Management noted that while economic and geopolitical uncertainty persists, customers appear more confident in navigating the environment and making investments [6] - The outlook for 2025 includes projected net interest income growth of 5% to 7%, with loan trends outperforming expectations [20] - Management acknowledged the challenges in deposit pricing and anticipated upward pressure as they fund robust loan growth [21] Other Important Information - The company redeemed preferred stock, which, while beneficial for EPS, created a slight drag on net interest income due to the cash used for redemption [18] - The management expressed commitment to driving efficiency while balancing long-term growth and return objectives [22] Q&A Session Summary Question: Can you provide more color on the NII trajectory? - Management expects a slight decrease in NII in Q3 before an upward trajectory in Q4, driven by strong loan growth and deposit increases [30][31] Question: What are the expectations for expenses in Q3 and Q4? - Management indicated that expenses are expected to step up due to deferred project expenses and seasonal factors, with notable items not repeating [41][42] Question: Can you quantify the improvement in pipelines and activity? - Management noted an improvement in loan growth and positive momentum in pipelines, although quantifying it remains challenging [47][48] Question: What conditions would indicate that Comerica has not earned the right to remain independent? - Management emphasized the need to perform at an acceptable level and acknowledged the importance of protecting the company and serving clients [80][82] Question: How does the company view potential mergers and acquisitions? - Management stated that the $100 billion asset threshold is not a governor for pursuing transactions, focusing instead on organic growth opportunities [68][69] Question: What are the expectations for deposit pricing and repricing opportunities? - Management acknowledged the competitive environment for deposits and indicated that they are closely monitoring pricing strategies [100][101] Question: Can you provide more color on the increase in criticized loans? - Management described the increase as moderate, concentrated in three credits with consumer components under pressure from higher rates [103][105]

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In this issue of Forbes Daily:- These billionaires are giving $1 billion to boost economic mobility using AI- Why the S&P 500 catapulted to an all-time high Thursday- The House approved several crypto bills Thursday. Here's what to knowRead more: https://t.co/nCbgN9B6vQ https://t.co/HIwiY5FGdP ...

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Core Viewpoint - A class action securities lawsuit has been filed against Sarepta Therapeutics, Inc. alleging securities fraud related to the company's gene therapy product, ELEVIDYS, which is intended for treating Duchenne muscular dystrophy [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for Sarepta investors who were affected by alleged securities fraud between June 22, 2023, and June 24, 2025 [1]. - The complaint claims that Sarepta made false statements regarding ELEVIDYS, including significant safety risks, failure to detect severe side effects, and the potential halting of trials due to adverse events [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 25, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

Core Viewpoint - Fortrea Holdings Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between July 3, 2023, and February 28, 2025 [1][2] Group 1: Allegations of Fraud - The lawsuit claims that Fortrea Holdings Inc. overestimated revenue contributions from its long-term projects, known as the Pre-Spin Projects, for the year 2025 [2] - It is alleged that the company overstated potential cost savings from exiting transition services agreements [2] - The previously announced EBITDA targets for 2025 were reportedly inflated, leading to an overstatement of the company's post-spin-off business model viability and financial prospects [2] - The public statements made by the company were claimed to be materially false and misleading throughout the relevant period [2] Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until August 1, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4]

Core Viewpoint - A class action securities lawsuit has been filed against 3D Systems Corporation, alleging securities fraud that negatively impacted investors between August 13, 2024, and May 12, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that 3D Systems Corporation made false statements regarding the impact of weakened customer spending, overstating the company's resilience in difficult industry conditions [2]. - It is alleged that the updated milestone criteria in the partnership with United Therapeutics Corporation would adversely affect the revenue from the company's regenerative medicine program [2]. - As a result, the public statements made by the company were materially false and misleading during the relevant time period [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until August 12, 2025, to request to be appointed as lead plaintiff in the case [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - A class action securities lawsuit has been filed against XPLR Infrastructure, LP, formerly known as Nextera Energy Partners, LP, alleging securities fraud that affected investors between September 27, 2023, and January 27, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that the defendants made false statements and concealed critical information regarding XPLR's operational struggles as a yieldco [3]. - It is alleged that the defendants entered into financing arrangements to temporarily alleviate operational issues while downplaying associated risks [3]. - The complaint states that XPLR could not resolve these financings before their maturity without risking significant unitholder dilution, leading to a planned halt in cash distributions to investors [3]. - The lawsuit asserts that the yieldco business model and distribution growth rate of XPLR were unsustainable, rendering the defendants' public statements materially false and misleading [3]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until September 8, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [4]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [4]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [5].

NEW YORK, July 18, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Rocket Pharmaceuticals, Inc. ("Rocket" or the "Company") (NASDAQ: RCKT) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rocket investors who were adversely affected by alleged securities fraud between February 27, 2025 and May 26, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/rocket-pharmaceuticals-i ...