Stocks Rebound to Close Modestly Lower; HP Surges 17%
Morgan Stanley
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*Dollar curbs gains vs euro, yen after U.S. data. NEW YORK, May 16- The dollar edged lower against the euro and pared gains versus the Japanese yen on Thursday as U.S. data releases highlighted vulnerabilities in the U.S. economy, curbing expectations that the Federal Reserve will scale back its asset-buying program.
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"You want to be in sectors that sell to the people who benefit from wage inflation: consumers," said John Lomax, head of emerging equity strategy at HSBC. Russian supermarket chain Magnit saw profits jump 28 percent in the first quarter and its shares have returned 190 percent since April 2010, according to Morgan Stanley.
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Shares of Tesla Motors Inc. shot higher in premarket trading on Thursday after it said it would offer stock and notes in an $830 million deal that will allow it to pay down its debt to the U.S. government. Palo Alto, Calif.- based Tesla said it will offer 2.7 million shares of its common stock and $450 million in convertible senior notes.
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Private equity investment in Indian infrastructure is poised to pick up following a lengthy dry patch as debt-stressed operators come under pressure from banks to offload assets.
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NEW YORK-- A look at the 10 biggest volume gainers on New York Stock Exchange at the close of trading:. CAE Inc.: Approximately 166,600 shares changed hands, a 557.3 percent increase over its 65- day average volume. The shares fell$. 35 or 3.2 percent to $10.43.
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Bank of America Corp. rose$. 10 or. 7 percent, to $13.44. Citigroup Inc. rose $1.25 or 2.5 percent, to $51.34. Goldman Sachs rose $1.09 or. 7 percent, to $155.61.
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Tesla announced plans to offer another 2.7 million shares and said CEO Elon Musk will buy another $100 million worth of Tesla stock. Shares shot up after-hours.
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Big investors are reporting their quarterly holdings, offering a glimpse into what some of the big fish were buying and selling during the first quarter.
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Check out which companies are making headlines after the bell Wednesday:
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This time, would-be investors such as KKR, the Blackstone Group and Macquarie Group are looking at buying into completed projects, a relatively safe bet, tempted by valuation expectations that have fallen roughly 25-30 percent over the past two years, fund managers and bankers said.
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NEW YORK, May 15- Global investment banks suffered another bruising decline in commodity trading in the first three months of this year, new reports showed on Wednesday, with Morgan Stanley's revenues collapsing to a quarter of what they were a year ago.
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Bank of America Corp. rose$. 17 or 1.3 percent, to $13.51. Citigroup Inc. rose $1.23 or 2.5 percent, to $51.32. Goldman Sachs rose $1.05 or. 7 percent, to $155.57.
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Morgan Stanley is on track for better growth and returns over the next year, CSLA bank analyst Mike Mayo says.
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NEW YORK, May 15- After years of urging its financial advisers to sell more life insurance, UBS Wealth Management Americas is bringing in full-time experts and offering financial incentives to prod its tradition-bound sales force outside its comfort zone.
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Bank of America Corp. rose$. 06 or. 4 percent, to $13.40. Citigroup Inc. rose$. 50 or 1.0 percent, to $50.59. JPMorgan Chase rose$. 36 or. 7 percent, to $50.59.
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The banks covered in the report are Goldman Sachs, JPMorgan, Bank of America, Citigroup, Barclays, Credit Suisse, Deutsche Bank, Morgan Stanley, RBS and UBS.
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Bank of America Corp. rose$. 36 or 2.8 percent, to $13.34. Citigroup Inc. rose $1.17 or 2.4 percent, to $50.09. JPMorgan Chase rose$. 56 or 1.1 percent, to $50.23.
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NEW YORK, May 14- The wave of short-covering that drove shares of electric car maker Tesla Motors to huge gains last week appears to have subsided, but there are still plenty of investors willing to bet against the stock.
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The S&P and Dow closed at fresh all-time highs on Tuesday after widely followed hedge fund manager David Tepper said he is "definitely bullish" on stocks.
