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Yahoo
15 minutes ago
- Yahoo
Stock market today: S&P 500, Nasdaq on pace for new records as earnings roll in
US stocks were on pace to notch new record highs on Thursday as Wall Street filtered through a fresh wave of earnings while keeping an eye on President Trump's campaign to push out Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average (^DJI) rose 0.4% while the S&P 500 (^GSPC) also gained about 0.5%. The tech-heavy Nasdaq Composite (^IXIC) climbed 0.8% on the heels of another record-setting session for tech stocks. The S&P 500 and Nasdaq were poised to close at fresh all-time highs as investors navigate a plethora of catalysts, including earnings, economic data, Trump's tariffs, and the president's displeasure with the Fed's stance on interest rates. Retail sales rebounded in June, an indication that Trump's tariffs are not significantly impacting consumer spending habits yet. The reading serves as another snapshot of the health of the US consumer, who big banks so far this earnings season say seem to be doing just "fine." Also out Thursday morning, data from the Department of Labor showed 221,000 initial jobless claims were filed in the week ending July 12. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. In earnings, TSMC (TSM) posted a record quarterly profit early on Thursday, citing stronger and stronger AI demand. The Nvidia supplier's shares popped as its results boosted other chipmaker stocks. Meanwhile, PepsiCo (PEP) reported a surprise rise in revenue and lowered its forecast drop in 2025 profit. Read more: Full earnings coverage in our live blog But Netflix (NFLX) is the highlight of Thursday's docket, as it kicks off this season's Big Tech earnings reports with results due after the bell. The streaming giant's shares are on a tear so far this year. On the back burner for now are Trump's renewed threats to attempt to fire Powell, which sparked a stock sell-off at one point on Wednesday. While the president said he was "not planning" to do so, he has spent months excoriating Powell and the Fed's lack of appetite for interest rate cuts. Investor bets suggest Trump is likely to remain disappointed after the central bank's meeting in two weeks, as nearly 100% of traders expect a rate hold amid mixed signals on inflation. Meanwhile, the dollar (DX=F) continued to climb out of the trough it fell into as the prospect of Powell's removal rattled markets. Read more: The latest on Trump's tariffs Crypto watchers eye possible vote on legislation in House Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty of Foley & Lardner, who contributed draft comments on early versions of the Genius and Clarity bills. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Mortgage rates move higher again Yahoo Finance's Shi Bradley reports: Read more here. The next Fed chair's dilemma: Maintain Fed independence while pleasing Trump Yahoo Finance's Jennifer Schonberger reports: Read more here. What the China export easing means for Nvidia, AMD, and other chips stocks Yahoo Finance's Francisco Velasquez reports: Read more here. Carlyle co-founder Rubenstein on Fed's Powell: He's done a very good job Yahoo Finance's Brian Sozzi reports: Read more here. Wall Street is coming to the Fed's defense Yahoo Finance's David Hollerith reports: Read more here. Lucid shares jump 30% on Uber deal Yahoo Finance's Pras Subramanian reports: Read more here. Jobless claims fall for 5th straight week Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Stocks open mostly flat as investors digest June retail sales, earnings reports Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. United Airlines stock slides in wake of fresh profit guidance United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. TSMC profits soar over 60% in Q2, notching all time high Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Oil prices bounce back from early week losses Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. Crypto watchers eye possible vote on legislation in House Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty of Foley & Lardner, who contributed draft comments on early versions of the Genius and Clarity bills. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty of Foley & Lardner, who contributed draft comments on early versions of the Genius and Clarity bills. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Mortgage rates move higher again Yahoo Finance's Shi Bradley reports: Read more here. Yahoo Finance's Shi Bradley reports: Read more here. The next Fed chair's dilemma: Maintain Fed independence while pleasing Trump Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. What the China export easing means for Nvidia, AMD, and other chips stocks Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Carlyle co-founder Rubenstein on Fed's Powell: He's done a very good job Yahoo Finance's Brian Sozzi reports: Read more here. Yahoo Finance's Brian Sozzi reports: Read more here. Wall Street is coming to the Fed's defense Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. Lucid shares jump 30% on Uber deal Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Jobless claims fall for 5th straight week Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Stocks open mostly flat as investors digest June retail sales, earnings reports Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. United Airlines stock slides in wake of fresh profit guidance United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. TSMC profits soar over 60% in Q2, notching all time high Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Oil prices bounce back from early week losses Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15 minutes ago
- Yahoo
Why Morgan Stanley Offers A Compelling Long-Term Investor Story
Morgan Stanley (NYSE:MS) on Wednesday reported a second-quarter 2025 earnings of $2.13, up from $1.82 a year ago and beating the consensus of $2.02. Net earnings increased to $3.54 billion from $3.08 billion. The U.S. bank reported revenue of $16.79 billion, up 12% year over year, beating the consensus of $16.11 billion. Despite the positive headline figures, Morgan Stanley's stock reacted negatively after the earnings release, according to Bank of America (BofA) Stanley's provision for credit losses jumped to $196 million, primarily due to growth in the corporate loan portfolio and secured lending facilities, and the impact of a moderately weaker macroeconomic outlook. BofA noted that while Morgan Stanley's markets and wealth management divisions had a strong quarter, the stock likely faced pressure due to already high expectations following robust year-to-date gains. Furthermore, its investment banking performance fell short compared to rival JPMorgan (NYSE:JPM). Meanwhile, JPMorgan, a banking behemoth, reported adjusted earnings per share (EPS) of $4.96, outperforming consensus estimates of $4.48. Its managed net revenue decreased 10% year-over-year to $45.68 billion, and reported net revenue declined 11% to $44.91 billion, though still topping the $44.17 billion consensus estimate. View more earnings on MS Looking ahead, analyst Ebrahim Poonawala of BofA revised Morgan Stanley's fiscal year 2025/2026 EPS estimates upward to $8.82/$9.52 from $8.58/$9.25, assuming investment banking revenues remain relatively flat year-over-year for fiscal 2025. BofA also highlighted Morgan Stanley's openness to pursue mergers and acquisitions (M&A), despite emphasizing a 'super high' bar for such deals. Poonawala acknowledged that M&A potential might have influenced the weak stock reaction but stressed Morgan Stanley's strong track record in deal-making. BofA maintains a Buy rating on Morgan Stanley, with a price forecast of $154, considering the stock attractively valued at 15 times its estimated 2026 earnings. This valuation is lower than the typical 15-20 times earnings for wealth managers and 20 times for online broker Schwab, suggesting a favorable risk-reward balance for long-term investors in the wealth management sector. Goldman Sachs noted that Morgan Stanley leaders expressed optimism about the future of primary investment banking, anticipating strong activity from June to continue into the second half of 2025 as corporate teams adapt to the uncertain economic environment. Morgan Stanley's solid deal pipeline supports this positive outlook. Based on the latest earnings and management commentary, Goldman Sachs on Wednesday adjusted Morgan Stanley's EPS estimates for 2025, 2026, and 2027 by +1%, -1%, and -1%, respectively. Analyst Richard Ramsden maintained a 2026 price-to-earnings (P/E) target of 14.5x, leading to a slightly reduced price forecast of $146 from $147, while reiterating a Neutral rating. Price Action: MS stock is trading higher by 0.74% to $140.83 at last check Thursday. Read Next:Photo by Taljat David via Shutterstock Latest Ratings for MS Date Firm Action From To Jan 2022 Odeon Capital Downgrades Buy Hold Jan 2022 UBS Maintains Buy Jan 2022 Barclays Maintains Overweight View More Analyst Ratings for MS View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Why Morgan Stanley Offers A Compelling Long-Term Investor Story originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15 minutes ago
- Yahoo
AM Best Assigns Issuer Credit Rating to Fontana Holdings L.P.; Affirms Credit Ratings of Member Companies
OLDWICK, N.J., July 17, 2025--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb+" (Good) to Fontana Holdings L.P. The outlook assigned to this Credit Rating (rating) is stable. Concurrently, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) of Fontana Reinsurance U.S. Ltd. and Fontana Reinsurance Ltd., which are subsidiaries of Fontana Holdings L.P. The outlook of these ratings is stable. All companies are domiciled in Bermuda and collectively referred to as Fontana. The ratings reflect Fontana's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management (ERM). Fontana Holdings L.P. is a joint venture between RenaissanceRe Holdings Ltd. (RenaissanceRe) [NYSE:RNR] and various third-party capital partners. Both Fontana Reinsurance Ltd. and Fontana Reinsurance U.S. Ltd. are ultimately owned by Fontana Holdings L.P., and each company's rating considers its strategic importance to Fontana. Fontana is critical to RenaissanceRe's diversification, being the first joint venture focused on casualty and specialty risk. Fontana is managed solely by Renaissance Underwriting Managers, Ltd. (RUM) and is consolidated into RenaissanceRe's financial statements. Fontana started operations in April 2022 with USD 475 million in committed capital and has assumed a whole account quota share of RenaissanceRe's casualty and specialty book of business. Fontana's capital has been supported by its parent, which has raised capital successfully over the past years to support the growth of Fontana Reinsurance Ltd. and Fontana Reinsurance U.S. Ltd. The ratings of the Fontana entities continue to reflect the strength and depth of RenaissanceRe's management team and its leadership in ERM, as well as the benefits that should accrue to Fontana as a result of RenaissanceRe—through RUM—managing underwriting, pricing, risk selection, reserves, investments, claims, etc. AM Best notes that Fontana's operating performance and overall balance sheet strength have been maintained at levels consistent with expectations over its relatively short operating history. As the companies gain scale, AM Best expects that Fontana will generate underwriting profits and earnings to support the adequate operating performance, and that risk-adjusted capitalization will be maintained at levels to support the strong balance sheet assessment, broadly consistent with RenaissanceRe's long-term risk appetite for this entity. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Antonietta Iachetta Associate Director +1 908 882 1901 Gregory Dickerson Director +1 908 882 1737 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
