Latest news with #SanokeViswanathan
CNBC
6 days ago
- Business
- CNBC
Stocks making the biggest moves midday: Bumble, Dollar General, Signet Jewelers, Pinterest and more
Check out the companies making headlines in midday trading. Ferguson Enterprises — Shares surged 15% after the cooling solutions company reported third-quarter adjusted earnings of $2.50 per share, exceeding the $2.01 analysts had predicted, according to FactSet. Ferguson's $7.62 billion revenue was also above the $7.42 billion estimate. The company also slightly raised its full-year revenue growth guidance. Sitio Royalties — The mineral and royalty company soared 16% after agreeing to be acquired by Viper Energy , a subsidiary of Diamondback Energy. The deal, worth around $4.1 billion, is expected to close in the third quarter. Shares of Viper and Diamondback Energy both popped roughly 4%. EchoStar — The telecommunications stock slipped 6% after EchoStar disclosed in a regulatory filing that it would not make around $183 million in cash interest payments on a series of notes from its company Dish DBS. EchoStar said that this non-payment was made in light of recent uncertainty raised by the Federal Communications Commission. FactSet Research Systems — Shares slipped nearly 5% after the financial data provider announced that its board had appointed Sanoke Viswanathan as CEO. He will succeed Phil Snow in the role in early September. Signet Jewelers — Shares surged 10% after the world's largest diamond retailer reported an earnings and revenue beat. Signet's first-quarter adjusted earnings came in at $1.18 per share on revenue of $1.54 billion, beating the respective FactSet consensus estimates of $1.00 per share and $1.52 billion. Dollar General — Shares of the discount retailer jumped more than 14% after the company raised its full-year outlook and said its updated guidance assumes that current tariff rates will remain through mid-August. Dollar General also reported strong first-quarter earnings. The company posted earnings of $1.78 per share on revenue of $10.44 billion, while analysts polled by LSEG called for $1.48 per share and $10.31 billion. Hims & Hers Health — Shares shed about 2%. On Tuesday, the telehealth platform announced its acquisition of European counterpart Zava . The deal will boost Hims & Hers Health's active customer base by about 50%. Constellation Energy — The energy giant added 1% on news that Meta Platforms entered a 20-year agreement to buy nuclear power from Constellation. Meta will purchase around 1.1 gigawatts of power from Constellation's Clinton Clean Energy in Illinois beginning in 2027. Shares of Vistra and NRG Energy popped 5% and 1% in tandem. Bumble — The dating app's stock lost 4% on the back of JPMorgan's downgrade to underweight from neutral. JPMorgan said Bumble is losing market share to Hinge, a competitor. Pinterest — Shares added 4% after JPMorgan upgraded the social media platform to overweight from neutral . The bank said that Pinterest has made progress on improving its monetization and adding new users. Credo Technology — Shares soared 17% after the high-speed connectivity product developer reported it had seen stronger-than-expected demand from hyperscalers. Credo also guided for fiscal first-quarter revenue of between $185 million and $195 million, exceeding the $162.4 million analysts polled by FactSet had expected. Block — The fintech stock added more than 2% following an upgrade to outperform from in line from Evercore ISI. The firm wrote that it had turned more positive after speaking to Block's management about funding avenues across its lending portfolio. Parsons — Shares rallied 6% despite the defense technology company slashing its fiscal year 2025 revenue outlook. As a reason, Parsons cited reorganization within the State Department that has contributed to increased uncertainty around a confidential contract. — CNBC's Michelle Fox, Alex Harring and Pia Singh contributed reporting.
Reuters
7 days ago
- Business
- Reuters
JPMorgan gives consumer banking head Lake more responsibility as incumbent leaves
June 3 (Reuters) - JPMorgan Chase (JPM.N), opens new tab has given Marianne Lake, widely seen as a potential successor to CEO Jamie Dimon, the additional responsibility of managing its overseas consumer banking arm and strategic growth office, according to an internal memo on Tuesday. The change comes as incumbent Sanoke Viswanathan resigned as the CEO of JPMorgan's international consumer and wealth unit. Viswanathan will join as the CEO of FactSet (FDS.N), opens new tab from September, the financial data provider said. Lake is currently the CEO of JPMorgan's domestic consumer and community banking arm, which serves more than 84 million consumers in the United States. JPMorgan's international consumer banking business has gained over 2.5 million customers in the UK, and is set to expand across continental Europe and beyond, CEO Jamie Dimon and President Daniel Pinto said in the memo seen by Reuters. Viswanathan, 50, spent more than a decade at the Wall Street giant, and was also a member of JPMorgan's operating committee. He also oversaw the bank's international private bank and workplace solutions businesses within the asset and wealth management unit. While leading JPMorgan's strategy for many years, Viswanathan oversaw many of the bank's investments and acquisitions. Dimon, 69, said on Monday that his retirement was "several years" away, adding that he might stick around for a couple of years as chairman or executive chairman. Bloomberg News reported the development earlier in the day.
