Pinnacle Deal With Synovus Sparks Questions on Talent Retention
Shares of Pinnacle had been one of the best performers among regional banks in the US. But the stock tumbled Friday on news that the company had reached a deal to combine with Synovus Financial Corp. in an all-stock transaction valued at $8.6 billion.
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The 2-day FOMC meeting began on Tuesday, and the Fed is expected to keep the fed funds target range unchanged at 4.25% to 4.50% when the meeting ends on Wednesday. Also on Wednesday, the Jul ADP employment change is expected to climb by +80,000. Finally, on Wednesday, Q2 GDP is expected to expand by +2.4% (q/q annualized) and the Q2 core PCE price index is expected to ease to +2.3% from +3.5% in Q1. On Thursday, initial weekly unemployment claims are expected to rise by 6,000 to 223,000, and the Q2 employment cost index is expected to increase by 0.8%. Also, Jun personal spending is expected to climb +0.4% m/m and Jun personal income is expected to rise +0.3% m/m. In addition, the Jun core PCE price index, the Fed's preferred inflation gauge, is expected to climb +0.3% m/m and +2.7% y/y. Finally, on Thursday, the Jul MNI Chicago PMI is expected to increase by +1.6 to 42.0. 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Interest Rates September 10-year T-notes (ZNU25) on Tuesday closed up +19 ticks. The 10-year T-note yield fell -7.8 bp to 4.332%. Sep T-notes rallied to a 1-week high Tuesday, and the 10-year T-note yield fell to a 2.5-week low of 4.322%. T-notes moved higher on Tuesday after the Jun JOLTS job openings fell more than expected, a dovish factor for Fed policy. T-notes extended their gains Tuesday afternoon on strong demand for the Treasury's $44 billion auction of 7-year T-notes that had a bid-to-cover ratio of 2.79, well above the 10-auction average of 2.64 and the highest in more than 12 years. European government bond yields on Tuesday were mixed. The 10-year German bund yield rose +1.9 bp to 2.708%. The 10-year UK gilt yield fell from a 1-week high of 4.681% and finished down -1.4 bp to 4.633%. The ECB's Jun 1-year inflation expectations eased to +2.6% from 2.8% in May. The ECB's Jun 3-year inflation expectations were unchanged from May at +2.4%. 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Earnings Reports (7/30/2025) Albemarle Corp (ALB), Align Technology Inc (ALGN), Allstate Corp/The (ALL), Altria Group Inc (MO), American Electric Power Co Inc (AEP), American Water Works Co Inc (AWK), Automatic Data Processing Inc (ADP), AvalonBay Communities Inc (AVB), Bunge Global SA (BG), CH Robinson Worldwide Inc (CHRW), Cognizant Technology Solutions (CTSH), Dexcom Inc (DXCM), eBay Inc (EBAY), Entergy Corp (ETR), Equinix Inc (EQIX), Everest Group Ltd (EG), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Ford Motor Co (F), Fortive Corp (FTV), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), Hershey Co/The (HSY), Hologic Inc (HOLX), Host Hotels & Resorts Inc (HST), Humana Inc (HUM), IDEX Corp (IEX), Illinois Tool Works Inc (ITW), Invitation Homes Inc (INVH), Kraft Heinz Co/The (KHC), Lam Research Corp (LRCX), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), Prudential Financial Inc (PRU), PTC Inc (PTC), Public Storage (PSA), QUALCOMM Inc (QCOM), Smurfit WestRock PLC (SW), Trane Technologies PLC (TT), Tyler Technologies Inc (TYL), UDR Inc (UDR), Ventas Inc (VTR), Verisk Analytics Inc (VRSK), VICI Properties Inc (VICI), WEC Energy Group Inc (WEC), Western Digital Corp (WDC). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
