The S&P 500 (^GSPC 2.05%) has rebounded 18% since hitting bottom in early April after President Trump announced his "Liberation Day" tariffs. The index rocketed higher on Tuesday, May 27, as trade tensions eased between the European Union and the United States. But the stock market still faces several hurdles this week. Specifically, Nvidia (NVDA 3.07%) will announce its first-quarter financial results after the market closes on Wednesday, May 28, and the Federal Reserve will publish the minutes from its Ma ...

On May 19, JPMorgan Chase had an investor-day presentation and billionaire CEO Jamie Dimon had a lot to say about the economy, global trade, and investing. And much of it sounded negative.During the presentation, Dimon brought up the subject of U.S. stagflation -- the dreaded combination of ongoing inflation and economic recession at the same time. Policymakers generally try to keep inflation low and economic growth high. When they intervene, it usually sacrifices one to benefit the other. But when both inf ...

Alexander Farnsworth/Getty ImagesWalmart warned that it will raise prices on food, electronics and toys later this month, citing increased costs from tariffs. Walmart CEO Doug McMillon commented on the price hikes on Thursday's earnings call. McMillon said that the big box retailer is unable to absorb the costs of higher import taxes, despite the recent reduction of duties on Chinese goods. Earlier this week, President Donald Trump made a temporary 90-day truce with China to lower the 145% tariff to 30% o ...

Farmland Partners (FPI) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Luca Fabbri - President and CEOChristine Garrison - General Counsel & Corporate SecretaryPaul Pittman - Executive ChairmanSusan Landi - CFOCraig Kucera - MD - Equity Research Conference Call Participants John Massocca - Senior Research Analyst Operator Thank you for standing by. My name is Amy, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Farmland Partners Fi ...

Farmland Partners (FPI) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Thank you for standing by. My name is Amy, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Farmland Partners First Quarter twenty twenty five Earnings a It is now my pleasure to turn the call over to Luca Fabri, the President and CEO with Farmland Partners. You may begin. Speaker1 Thank you, Amy. Good morning, and welcome everybody to Farmland Partners first quarter twenty ...

The stock market has been quite volatile these days, with a strong concern over tariffs and the potential stagflation it may trigger. Poor ISM Manufacturing PMI data also suggests near-term weaknesses for multi-industry stocks. Under such an uncertain market, I believeAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivati ...

Financial Data and Key Metrics Changes - The company reported first quarter earnings of $0.34 per share, which includes $0.06 from Whole Foods related to rents and recoveries, as well as termination payments [44][46] - Same store NOI growth was reported at 4.1%, with the Street retail portion growing 6.8% for the quarter, outperforming suburban assets by over 400 basis points [52][53] - The company achieved a core operating signed not yet open pipeline increase of over 15%, with new leases signed at cash spreads exceeding 50% [41][48] Business Line Data and Key Metrics Changes - The Street retail segment continued to show strong performance, with double-digit sales growth observed in key markets such as SoHo and M Street [21][24] - The company signed new core leases totaling over $5 million in ABR, with 95% of that income coming from street locations [20] - The leasing velocity and signed not yet open pipeline are both accelerating, with a robust pipeline of over $6 million in additional leases in advanced stages of negotiation [21][48] Market Data and Key Metrics Changes - Consumer spending has remained resilient, particularly among affluent consumers, with sales growth reported at 15% year-over-year in the Georgetown portfolio [12][24] - The company noted that the affluent consumer demographic is less affected by broader economic indicators, maintaining spending habits despite economic uncertainties [12][22] - The company is seeing increased traction in markets that have been slower to recover, such as San Francisco, with significant leasing activity reported [28][30] Company Strategy and Development Direction - The company aims to be a dominant owner-operator of street retail in key corridors, focusing on acquisitions that are accretive to earnings and enhance the portfolio [14][39] - The strategy includes opportunistically adding assets through its investment management platform, leveraging institutional capital relationships [14][39] - The company is well-positioned to navigate market volatility and capitalize on potential buying opportunities in street retail investments [16][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued internal growth driven by strong tenant demand and limited new supply in high-quality locations [5][13] - The company is monitoring inflationary pressures and economic slowdowns but believes that strong demand will mitigate long-term declines [10][12] - Management remains optimistic about achieving 5% to 6% full-year same store NOI growth, supported by a solid balance sheet and liquidity [53][54] Other Important Information - The company completed over $370 million in acquisitions year-to-date, including targeted street retail acquisitions and value-add opportunities [32][34] - The balance sheet remains strong, with a debt to EBITDA ratio of 5.7 times, allowing for continued investment in growth opportunities [54] - The company has a robust pipeline of pending deals and active negotiations, indicating strong future growth potential [49][50] Q&A Session Summary Question: Will the signed not yet open (SNO) continue to accelerate and exceed 6% of ABR by year-end 2025? - Management indicated that they expect continued growth in the SNO pipeline, with $3 million expected to roll into the second half of the year [58] Question: Can you discuss opportunistic investing during downturns and the types of sellers? - Management noted that sellers could include institutional investors seeking liquidity or different operating partners, but it is too early to predict specific outcomes [60][62] Question: How has the Street portfolio changed post-COVID in terms of tenant types? - Management highlighted a shift towards healthier retailers, including digitally native brands, replacing legacy retailers, contributing to sustained demand and growth [66] Question: How confident is the company in achieving 10% underlying growth in the Street portfolio? - Management expressed confidence, noting that the majority of the signed not yet open pipeline is from the Street segment, which is expected to drive growth [70] Question: What is the current state of the street retail transaction market? - Management observed a potential reduction in competition as some buyers may pull back, but they remain prepared to capitalize on opportunities [78] Question: How are leasing spreads trending through the balance of the year? - Management indicated that while spreads may vary, they believe their leases are well-positioned relative to the market [81]

NEW YORK, April 25, 2025 /PRNewswire/ - Oppenheimer Holdings Inc. (NYSE: OPY) (the "Company" or "Firm") today reported net income of $30.7 million or $2.93 basic earnings per share for the first quarter of 2025, compared with net income of $26.1 million or $2.50 basic earnings per share for the first quarter of 2024. Revenue for the first quarter of 2025 was $367.8 million, an increase of 4.2%, compared to revenue of $353.1 million for the first quarter of 2024. Albert G. Lowenthal, Chairman and CEO comment ...

Core Viewpoint - Bank of America is in a stronger position compared to the Great Recession, with improved safety and soundness metrics, despite emerging economic stress [2][11]. Group 1: Bank's Strategy and Performance - Bank of America has adopted a conservative growth strategy under CEO Brian Moynihan since 2010, focusing on risk management and stability [3][4]. - The bank's total loan balances have seen minimal growth since Q4 2009, reflecting a cautious approach amid stricter regulations [4]. - The composition of the loan portfolio has shifted significantly, with reduced exposure to consumer and home equity loans, which were problematic during the Great Recession [4][5]. Group 2: Loan Quality and Risk Management - The quality of loans has improved, with wealth management loans more than doubling, while commercial real estate construction loans now represent only 15% of total loans, down from 39% in 2009 [5]. - Nonperforming loans and net charge-offs are significantly lower than during the peak of the Great Recession, indicating better loan performance [6][7]. - Tangible common equity is nearly double what it was in 2009, and global liquidity sources have increased more than fourfold, enhancing the bank's financial resilience [7]. Group 3: Stress Testing and Preparedness - Bank of America participates in rigorous stress testing by the Federal Reserve, which simulates severe economic downturns, and is expected to face losses of 5.5% of total loans, compared to 10% in Q4 2009 [7][8]. - The bank conducts its own stress tests to assess its preparedness for potential recessions, emphasizing the importance of underwriting discipline developed over the last decade [10]. - Despite inherent risks in banking, the bank's reshaped loan portfolio and risk management practices suggest it is well-equipped to handle potential credit issues [9]. Group 4: Market Position and Valuation - Bank of America's stock is currently trading at 138% of its tangible book value, below its five-year average of 156%, presenting a favorable risk-reward proposition [11][12].

11 April 2025 | 9:59PM BST GOAL: Global Opportunity Asset Locator Remain defensive tactically as markets reprice stagflation risks Christian Mueller-Glissmann, CFA +44(20)7774-1714 | christian.mueller- glissmann@gs.com Goldman Sachs International Andrea Ferrario +44(20)7552-4353 | andrea.ferrario@gs.com Goldman Sachs International Alessandro Giglio +44(20)7051-6240 | alessandro.giglio@gs.com Goldman Sachs International Peter Oppenheimer +44(20)7552-5782 | Remain defensive tactically as markets reprice stagf ...