Barclays (NYSE:BCS) Stock, Quote.Headers.trade-ideas

Barclays

Barclays is a universal bank headquartered in the United Kingdom. It operates via five principal segments; UK (retail), UK corporate bank, private bank and wealth management, investment bank, and US consumer bank. In its UK segment, the bank provides current accounts, mortgages, savings and investment management services, credit cards, and business banking services to retail clients and small and medium-size enterprises. The international segment includes a corporate bank offering banking solutions to large corporates, a bulge-bracket global investment bank, and a credit card and payments business.

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VCTR

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Victory Capital Holdings (NASDAQ: VCTR) been one of those stocks this year? Let&#39;s take a closer look at the stock&#39;s year-to-date performance to find out.

Is Victory Capital Holdings Outperforming Other Finance Stocks This Year?

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CurrencyShares British Pound Sterling Trust

With U.S. markets closed for Independence Day, European stocks and currencies rose on Thursday, showing no signs of risk aversion despite the ongoing UK legislative elections.

British Pound, European Stocks Surge Ahead Of UK Election Results; Bitcoin Plummets: What&#39;s Driving Markets Thursday?

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Ten major banks, including Goldman Sachs Group Inc, JPMorgan Chase &amp; Co., and BNP Paribas SA, have agreed to pay a combined $46 million to resolve a long-standing lawsuit. The banks have been accused of conspiring to stifle competition in interest-rate swaps trading.

Goldman Sachs, JPMorgan, BNP Paribas And Other Big Banks To Pay $46M To Settle Swaps Collusion Case

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Under the newly signed agreement, Barclays will continue to issue the Hawaiian Airlines World Elite Mastercard&nbsp;for consumers; and the Hawaiian Airlines World Elite Business Mastercard, for small businesses.

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Barclays US Consumer Bank Renews Co-branded Credit Card Program With Hawaiian Airlines

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Victory Capital Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vctr#NASDAQ">VCTR</a>) been one of those stocks this year? Let&#39;s take a closer look at the stock&#39;s year-to-date performance to find out.
Victory Capital Holdings is a member of the Finance sector. This group includes 862 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Victory Capital Holdings is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for VCTR&#39;s full-year earnings has moved 1.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock&#39;s earnings outlook is improving.
Based on the most recent data, VCTR has returned 52.1% so far this year. In comparison, Finance companies have returned an average of 13.7%. This means that Victory Capital Holdings is performing better than its sector in terms of year-to-date returns.
Another Finance stock, which has outperformed the sector so far this year, is Barclays (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>). The stock has returned 52.5% year-to-date.
In Barclays&#39; case, the consensus EPS estimate for the current year increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Victory Capital Holdings belongs to the Financial - Investment Management industry, a group that includes 38 individual stocks and currently sits at #165 in the Zacks Industry Rank. Stocks in this group have gained about 14% so far this year, so VCTR is performing better this group in terms of year-to-date returns.
Barclays, however, belongs to the Banks - Foreign industry. Currently, this 66-stock industry is ranked #49. The industry has moved +9.2% so far this year.
Victory Capital Holdings and Barclays could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
<a href="https://www.zacks.com/stock/news/2304353/is-victory-capital-holdings-vctr-outperforming-other-finance-stocks-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2304353">To read this article on Zacks.com click here.</a>

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Barclays Revises Fed Forecast To Expect Two Rate Cuts In 2024 Instead Of One

With U.S. markets closed for Independence Day, European stocks and currencies rose on Thursday, showing no signs of risk aversion despite the ongoing <a href="https://www.benzinga.com/markets/eurozone/24/05/39048040/uk-election-how-it-works-and-which-markets-could-be-affected">UK legislative elections</a>.
The Labour Party is expected to achieve a landslide victory, ending 14 consecutive years of Conservative (or Tories) leadership. Heading to the elections, the Labour Party led by about 20 percentage points against Tories. 
Polls closed at 5:00 p.m. Thursday, with results expected later tonight. As of 6:00 p.m. EST, the New York Times <a href="https://www.nytimes.com/live/2024/07/04/world/uk-election-results">reported</a> that a nationwide exit poll showed that the Labour Party&#8217;s leader, Keir Starmer, was likely to become prime minister.
<h3 class="wp-block-heading">UK Stocks And Sterling</h3>
Ipek Ozkardeskaya, an analyst at Swissquote Bank Ltd, outlined two likely scenarios: a strong Labour majority with 150 seats — nearly double Boris Johnson&#8216;s 80-seat majority in 2019 — or a super majority with 250 seats. 
Both outcomes would enable Labour to enact significant reforms in the UK.
&#8220;Even investors want to see Labour take over the reins this time,&#8221; she remarked.
Analysts perceive a Labour victory as positive for UK stocks and sterling. Ozkardeskaya highlighted that small and medium-sized British stocks will benefit more than the FTSE 100, which is heavily influenced by global market dynamics.
On Thursday, the FTSE 100 Index rose over 1%, marking its second consecutive day in the green. Smith &amp; Nephew led gains, up 7.6% following Cevian Capital&#8216;s acquisition of a 5% stake. Bunzl and Melrose each rose by 2.9%, while Barclays plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) led the banking sector with a 2.1% increase.
The British pound, tracked by the Invesco CurrencyShares British Pound Sterling ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXB#NYSE">FXB</a>), edged 0.2% higher, marking its sixth consecutive session of gains. The euro saw similar performance.
<h3 class="wp-block-heading">Other Movers On Thursday</h3>
The dollar weakened against all major currencies, with the Japanese yen gaining 0.3% against the greenback.
Confidence that Marine Le Pen&#8216;s far-right National Rally will not obtain an absolute majority at the second round of French elections this Sunday buoyed other European markets.
The French CAC 40 index rose 0.8%, as did the Italian FTSE Mib, while the German DAX inched 0.4% higher.
The broader Euro STOXX 50 Index, tracked by the SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), closed 0.4% higher, notably surging above the key 50-day moving average for the first time since June 13.
Chart: Euro STOXX 50 Index Closes Above 50-Day Average
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7-1024x500.png" alt="" class="wp-image-420262" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04121958/image-7.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
In commodities markets, copper rallied 0.9%, marking its fifth straight positive session. Gold rose 0.2%, while silver fell 0.2%.
Oil prices showed robust gains, with West Texas Intermediate (WTI) light crude futures climbing to $84, up 0.8%.
Cryptocurrencies were the weakest market segment:
<ul>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 3.8%</li>
<li>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) down 4.1%</li>
<li>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) down 5%</li>
<li>Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) down 5.1%</li>
<li>Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) down 5.4%.</li>
</ul>
Now Read: 
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<li><a href="https://www.benzinga.com/top-stories/24/07/39634920/july-fourth-cookout-inflation-hits-record-highs-your-grocery-bill-may-be-a-shock-but-this-side-dish">July Fourth Cookout Inflation Hits Record Highs &#8211; &#8216;Your Grocery Bill May Be A Shock&#8217; But This Side Dish Costs Less, Expert Says</a></li>
</ul>
Image: Pixabay

British Pound, European Stocks Surge Ahead Of UK Election Results; Bitcoin Plummets: What's Driving Markets Thursday?

Ten major banks, including Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and BNP Paribas SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BNPQF#OTC">BNPQF</a>), have agreed to pay a combined $46 million to resolve a long-standing lawsuit. The banks have been accused of conspiring to stifle competition in interest-rate swaps trading.
What Happened: The banks have denied any wrongdoing but have chosen to settle the antitrust lawsuit filed by investors over eight years ago. The settlement was submitted to a New York federal court on Thursday. The plaintiffs have requested that U.S. District Judge Paul Oetken grant preliminary approval, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-06-27/big-banks-to-pay-46-million-to-settle-swaps-collusion-claims">reported</a> on Thursday.
Other banks involved in the settlement include Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Credit Suisse Group AG which is now owned by UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), Barclays Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Deutsche Bank AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), and NatWest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWG#NYSE">NWG</a>).
See Also: <a href="https://www.benzinga.com/markets/equities/24/06/39493817/cathie-wood-led-ark-invest-dumps-4-3m-worth-of-nvidia-shares-amid-rebound-swoops-into-buy-stock-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood-Led Ark Invest Dumps $4.3M Worth Of Nvidia Shares Amid Rebound — Swoops Into Buy Stock Of This Netflix Rival</a>
The lawsuit, which is part of a series of litigations brought by public pension plans against major banks, alleges collusion across various markets, including interbank rates, currencies, and credit default swaps. The banks are accused of blocking electronic trading platforms from entering these markets to control prices and increase profits.
"The settlement represents an excellent recovery for the class given the challenges and uncertainties of further litigation," the plaintiffs&#8217; attorneys stated in their filing on Thursday.
Why It Matters: The settlement comes after the judge in December denied class-action status to the claims, which significantly weakened the case. Despite the denial, the settlement represents a significant recovery for the plaintiffs given the challenges and uncertainties of further litigation, according to Bloomberg Intelligence analyst.
The banks contended that investors suffered no harm, citing data indicating that many trades did not yield profits or resulted in losses. The plaintiffs disputed the occurrence of any trades with negative returns. 
However, the judge declined to approve class-action status, stating that the plaintiffs did not effectively counter the defendants&#8217; argument that there were numerous trades with zero or negative returns during the period in question.
Recently, the Federal Reserve's annual stress tests revealed that major banks, including JPMorgan and Bank of America, faced higher-than-expected <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39536951/bank-stress-tests-much-bigger-surprise-than-expected-will-delay-future-investment-p">stress capital buffers</a>, leading to increased capital requirements. 
This development follows a recent report on the <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39141521/goldman-sachs-jpmorgan-and-wells-fargo-lead-bank-stocks-surge-as-investors-bet-on-soft-landin">surge in large bank stocks</a>, including Goldman Sachs and JPMorgan, amid expectations of interest rate policy and optimism for an economic &#8220;soft landing.&#8221; 
Moreover, the 2024 Fed stress tests indicated that while large banks <a href="https://www.benzinga.com/markets/equities/24/06/39513681/fed-stress-test-2024-large-banks-face-greater-losses-but-maintain-strong-capital-positions-in-se">might face greater losses</a> in a severe recession, they still maintain strong capital positions. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39493523/rivian-lucid-micron-technology-novo-nordisk-tesla-why-these-5-stocks-are-on-investors-radars-tod?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">RIVN, LCID, MU, NVO, TSLA: Top 5 Trending Stocks Today</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Editor&#8217;s note: This story erroneously included stock information for Citizens Inc. rather than Citizens Financial Group Inc, which is the company mentioned in the Federal Reserve&#8217;s stress test report, and has been corrected.
The Federal Reserve Board&#8217;s annual bank stress test Wednesday reveals that while large banks face greater projected losses than last year in a downturn scenario, they remain well-positioned to endure a severe recession and maintain their capital <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39461418/us-bank-stress-tests-this-week-analyst-expects-improvement-8-stocks-3-etfs-to-watch">requirements above minimum thresholds. </a>
&#8220;This year&#8217;s stress test shows that large banks have sufficient capital to withstand a highly stressful scenario and meet their minimum capital ratios,&#8221; said the Fed&#8217;s vice chair for supervision Michael S. Barr.
Although this year&#8217;s stress test adverse scenario is as severe as last year&#8217;s, it resulted in greater losses due to slightly riskier bank balance sheets and increased expenses, he said. 
Reflecting on the 2023 regional bank crisis, Barr emphasized that important lessons have been learned.
The Fed stated that &#8220;large banks are generally well-positioned to withstand a sudden funding shock in the form of shifting deposits.&#8221; Additionally, bank net interest income remains resilient in a high-rate environment, even when factoring in the funding shock assumptions.
<h3 class="wp-block-heading">2024 Bank Stress Test Details, Results</h3>
This year&#8217;s test showed that all 31 banks remained above their minimum common equity tier 1 (CET1) capital requirements despite total projected hypothetical losses nearing $685 billion.
The hypothetical scenario for this year&#8217;s test mirrors last year&#8217;s severe global recession test, including a 40% decline in commercial real estate prices, a significant rise in office vacancies and a 36% drop in house prices. The unemployment rate peaks at 10% in the stress test, with a corresponding decline in economic output.
Under the stress scenario, the aggregate CET1 capital ratio is expected to decline by 2.8 percentage points, from 12.7% to 9.9%. Although this is a greater decline than last year&#8217;s test, it remains within the range of recent tests.
Three main factors contribute to the larger capital decline in this year&#8217;s test:
<ol>
<li>Increased Credit Card Losses: A substantial rise in credit card balances and higher delinquency rates lead to greater projected credit card losses. The banks most exposed to credit card losses were Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) and Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).</li>
<li>Riskier Corporate Credit Portfolios: Banks have downgraded their corporate loans, reflecting increased risk and resulting in higher projected corporate losses. Banks set to face the largest impact on their corporate loan balances are Discover Financial Services, Barclays plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) and Citizens Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).</li>
<li>Higher Expenses and Lower Fee Income: Reduced projected income from higher expenses and lower fee income exacerbates the capital decline.</li>
</ol>
The projected losses include $175 billion in credit card losses, $142 billion from commercial and industrial loans and $77 billion from commercial real estate.
&#8220;Large bank exposure to commercial real estate (CRE) debt remains an area of focus for Federal Reserve supervisors,&#8221; the report says. 
The 2024 supervisory severely adverse scenario includes increased stress in commercial real estate (CRE), with a 40% drop in CRE prices.
Although projected losses on loans to office properties have risen due to worsening fundamentals in the office segment, the Fed said these losses are balanced by a decrease in projected losses on loans to hotels and retail properties, as market fundamentals for these sectors have improved over the last year.
Market Reactions: Capital One Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Citizens Financial Group and Goldman Sachs were among the worst performers of the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) components in after-market trading as of 5:05 p.m. ET. The top performer was Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), up 1.7%
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506069/yen-plummets-to-160-against-dollar-lowest-since-december-1986-is-bank-of-japan-inte">Yen Plummets To 160 Against Dollar, Lowest Since December 1986: Is Bank Of Japan Intervention Imminent?</a>
Photo via Shutterstock.

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Fed Stress Test 2024: Large Banks Face Greater Losses But Maintain Strong Capital Positions In Severe Recession Scenario (CORRECTED)

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OSCR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$21.00</td>
<td>$29.9K</td>
<td>5.8K</td>
<td>3.3K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$150.00</td>
<td>$159.2K</td>
<td>2.4K</td>
<td>794</td>
</tr>
<tr>
<td>ABR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.00</td>
<td>$103.4K</td>
<td>2.4K</td>
<td>601</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$90.00</td>
<td>$82.5K</td>
<td>1.1K</td>
<td>355</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$60.00</td>
<td>$45.5K</td>
<td>1.5K</td>
<td>109</td>
</tr>
<tr>
<td>BCS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$9.00</td>
<td>$59.5K</td>
<td>2.1K</td>
<td>103</td>
</tr>
<tr>
<td>AXP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$230.00</td>
<td>$59.8K</td>
<td>339</td>
<td>40</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$100.00</td>
<td>$31.5K</td>
<td>809</td>
<td>11</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$210.00</td>
<td>$125.1K</td>
<td>549</td>
<td>7</td>
</tr>
<tr>
<td>GGAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$17.50</td>
<td>$32.4K</td>
<td>104</td>
<td>1</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For OSCR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on July 19, 2024. This event was a transfer of 666 contract(s) at a $21.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.9K, with a price of $45.0 per contract. There were 5812 open contracts at this strike prior to today, and today 3358 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bearish sentiment. It expires in 1 day(s) on June 21, 2024. Parties traded 20 contract(s) at a $150.00 strike. The total cost received by the writing party (or parties) was $159.2K, with a price of $7961.0 per contract. There were 2437 open contracts at this strike prior to today, and today 794 contract(s) were bought and sold. 
• Regarding ABR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABR#NYSE">ABR</a>), we observe a put option sweep with bearish sentiment. It expires in 575 day(s) on January 16, 2026. Parties traded 1592 contract(s) at a $5.00 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $103.4K, with a price of $65.0 per contract. There were 2429 open contracts at this strike prior to today, and today 601 contract(s) were bought and sold. 
• For SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we notice a call option sweep that happens to be neutral, expiring in 365 day(s) on June 20, 2025. This event was a transfer of 159 contract(s) at a $90.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $82.5K, with a price of $520.0 per contract. There were 1195 open contracts at this strike prior to today, and today 355 contract(s) were bought and sold. 
• For PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we notice a call option trade that happens to be bullish, expiring in 92 day(s) on September 20, 2024. This event was a transfer of 100 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $45.5K, with a price of $456.0 per contract. There were 1534 open contracts at this strike prior to today, and today 109 contract(s) were bought and sold. 
• Regarding BCS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on June 21, 2024. Parties traded 350 contract(s) at a $9.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $59.5K, with a price of $170.0 per contract. There were 2109 open contracts at this strike prior to today, and today 103 contract(s) were bought and sold. 
• For AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we notice a put option sweep that happens to be bullish, expiring in 8 day(s) on June 28, 2024. This event was a transfer of 184 contract(s) at a $230.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $59.8K, with a price of $325.0 per contract. There were 339 open contracts at this strike prior to today, and today 40 contract(s) were bought and sold. 
• For KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), we notice a call option sweep that happens to be bullish, expiring in 211 day(s) on January 17, 2025. This event was a transfer of 18 contract(s) at a $100.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $31.5K, with a price of $1750.0 per contract. There were 809 open contracts at this strike prior to today, and today 11 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a call option sweep that happens to be bullish, expiring in 547 day(s) on December 19, 2025. This event was a transfer of 65 contract(s) at a $210.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $125.1K, with a price of $1925.0 per contract. There were 549 open contracts at this strike prior to today, and today 7 contract(s) were bought and sold. 
• Regarding GGAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>), we observe a call option trade with neutral sentiment. It expires in 575 day(s) on January 16, 2026. Parties traded 20 contract(s) at a $17.50 strike. The total cost received by the writing party (or parties) was $32.4K, with a price of $1620.0 per contract. There were 104 open contracts at this strike prior to today, and today 1 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

GGAL

OSCR

PYPL

10 Financials Stocks With Whale Alerts In Today's Session

British multinational universal bank Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) shares are <a href="https://www.benzinga.com/quote/BCS">trading lower on Frida</a>y.
The Prudential Regulation Authority (PRA) has directed Barclays to conduct a detailed review of its leveraged finance exposure, in the wake of a broader examination of how U.K. banks are managing risks associated with private equity investments.
As financial institutions grapple with opaque private equity dealings, the PRA&#8217;s request indicates a major move to safeguard the sector against unforeseen financial losses, reported Reuters.
In April, the Bank of England expressed concerns about the banking industry's lack of comprehensive understanding of their total exposure to private equity, which could potentially lead to significant financial vulnerabilities. 
The review by Barclays will be conducted through a section 166 report, involving an independent skilled person to investigate the bank&#8217;s exposure levels.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/06/39310122/goldman-sachs-to-double-lending-to-ultra-wealthy-clients-by-2029-as-part-of-wealth-management-ex">Goldman Sachs To Double Lending To Ultra-Wealthy Clients By 2029 As Part Of Wealth Management Expansion Strategy</a>
This step is part of an industry-wide initiative to enhance transparency and control over leveraged financial dealings within the private equity sector.
Valued at approximately $8 trillion globally, the private equity sector&#8217;s complex leverage arrangements pose challenges in assessing the full extent of financial risks.
The growth of the private equity sector has been substantial, with global assets under management increasing from around $2 trillion in 2013 to about $8 trillion in 2023.
Barclays reported first quarter FY24 net income of £1.55 billion pounds, <a href="https://www.benzinga.com/24/04/38432360/markets-today-earnings-are-failing-to-impress-traders-dow-jones-flirting-with-critical-levels">which was way ahead of expectations</a>.
BCS stock has gained 33% in the last 12 months. Investors can gain exposure to the stock via the Dimensional International Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFIV#NYSE">DFIV</a>) and ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>).
Price Action: BCS shares are trading lower by 3.3% at $10.25 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39318724/wells-fargo-axes-employees-over-fake-keyboard-activity">Wells Fargo Axes Employees Over Fake Keyboard Activity</a>
Photo: JHVEPhoto/Shutterstock.com

General

APIE

DFIV

What's Going On With Barclays' Shares On Friday?

Raymond James (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rjf#NYSE">RJF</a>) is set to enter into the lucrative private credit business. Through its Investment Banking (&quot;IB&quot;) division, the company has formed a strategic collaboration with Eldridge Industries and Raymond James Bank. Spearheading this expansion is Omer Masud, a seasoned credit industry expert appointed as the head of sponsor finance origination. 
The newly formed Raymond James Private Credit aims to cater private credit solutions to portfolio companies of private equity firms. Leveraging Raymond James&#39; robust IB platform, Raymond James Bank&#39;s lending prowess and Eldridge Industries&#39; asset management expertise, the venture is poised to strengthen relationships with leading PE firms, particularly in key sectors such as consumer, diversified industrials, healthcare and technology &amp; services. 
Jim Bunn, the president of Global Equities and Investment Banking at RJF, emphasized the significance of this move in solidifying ties with the private equity community, underlining the firm&#39;s commitment to enhancing PE relationships. Steve Raney, the chairman and CEO of Raymond James Bank, highlighted the institution&#39;s history of offering comprehensive lending programs and expressed enthusiasm about extending these capabilities further in collaboration with Eldridge Industries. 
Todd Boehly, the co-founder and CEO of Eldridge Industries, echoed the sentiment, affirming private credit as a premier asset class and expressing pride in supporting Raymond James&#39; foray into this domain. 
With Eldridge&#39;s substantial assets under management and Raymond James&#39; established market presence, the collaboration positions both entities for significant growth and underscores their shared commitment to delivering tailored financial solutions to PE clients. 
Over the past year, shares of this Zacks Rank #3 (Hold) company have jumped 45.2%, outperforming the industry&#39;s growth of 36.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b9/66663.jpg?v=360114640" /> 
Image Source: Zacks Investment Research
As Raymond James and Eldridge Industries embark on this venture, they join a burgeoning landscape of financial institutions tapping into the vast potential of the private credit market. Several global firms like Goldman (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) and Barclays (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) are also venturing into this space, forming partnerships with investment firms to capitalize on the growing demand for alternative financing options. 
Last month, BCS made a push into the private credit market. The company, along with AGL Credit Management, announced a cooperation agreement and the launch of a private credit investment platform, AGL Private Credit. Likewise, this February, GS entered into a partnership with Mubadala Investment, an Abu Dhabi sovereign wealth fund, to invest $1 billion in private credit deals in multiple Asia-Pacific markets.
<a href="https://www.zacks.com/stock/news/2273313/raymond-james-rjf-forays-into-the-private-credit-business?cid=CS-BENZ-FT-analyst_blog|company_news_-_finance_sector-2273313">To read this article on Zacks.com click here.</a>

Raymond James Forays Into the Private Credit Business

<a href="https://www.bloomberg.com/news/articles/2024-05-01/barclays-begins-implementing-job-cuts-across-investment-bank?srnd=homepage-europe" title="https://www.bloomberg.com/news/articles/2024-05-01/barclays-begins-implementing-job-cuts-across-investment-bank?srnd=homepage-europe">https://www.bloomberg.com/news/articles/2024-05-01/barclays-begins-implementing-job-cuts-across-investment-bank?srnd=homepage-europe</a>

'Barclays Begins Implementing Job Cuts Across Investment Bank' - Bloomberg

Goldman Sachs Group Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is reportedly in discussions to shift its&nbsp;General Motors Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) credit-card program to&nbsp;Barclays PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), marking a&nbsp;huge&nbsp;move in Goldman&#8217;s withdrawal from consumer lending.
Barclays emerges as the top contender to take over the&nbsp;credit-card&nbsp;issuance, which currently holds approximately $2 billion in balances, according to a&nbsp;<a target="_blank" href="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02" rel="noreferrer noopener">report&nbsp;</a>from The&nbsp;Wall Street Journal.&nbsp;A potential agreement could be reached&nbsp;by summer.
While other contenders like&nbsp;U.S. Bancorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) and&nbsp;Bread Financial Holdings Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) were initially in the running, they have recently withdrawn, according to the report.
However, there&#8217;s no assurance that Barclays will finalize the deal, as another potential buyer might emerge.
Goldman&#8217;s decision to exit the partnership was communicated to employees in&nbsp;November,&nbsp;following challenges in customer acquisition.&nbsp;
Executives expressed frustration over what they perceived as insufficient promotion efforts by GM car dealers, the report further added.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38247147" rel="noreferrer noopener">Goldman Sachs Sees Resurgence In Debt Underwriting And Deal Activity, Q1 Profit Jumps 28%</a>
This prospective deal signifies a crucial step in Goldman&#8217;s strategy to disentangle itself from&nbsp;Main-Street&nbsp;lending, a process initiated in late 2022.&nbsp;
The bank&#8217;s Platform Solutions division, encompassing the GM credit cards and other consumer lending ventures, incurred about $6 billion in losses from 2020 through&nbsp;first-quarter&nbsp;of 2024, the report mentioned.
For Barclays, acquiring the GM&nbsp;credit-card&nbsp;program aligns with its efforts to broaden its U.S.&nbsp;credit-card&nbsp;portfolio beyond travel cards.&nbsp;
A new&nbsp;rule by the&nbsp;Consumer Financial Protection Bureau&nbsp;is expected&nbsp;to reduce late fees, potentially impacting lenders&#8217; revenues.
The report further specified that banks evaluating the GM program face the challenge of enhancing card relevance in a fiercely competitive&nbsp;market,&nbsp;where consumers prioritize travel rewards.
Goldman Sachs stock gained more than 26% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Vanguard Total Stock Market Index Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38426856/gm-unveils-plans-for-autonomous-driving-unit-cruise-relaunch-after-hiatus-expects-1-7b-in-expenses" rel="noreferrer noopener">GM Unveils Plans For Autonomous Driving Unit Cruise Relaunch After Hiatus, Expects $1.7B In&nbsp;Expenses</a>
Price Action: GS shares closed higher by 0.76% at $430.81 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

Media

iShares Dow Jones US Broker Dealers Index Fund

Goldman Sachs Mulls GM Credit-Card Program Shift To Barclays: Report

<a href="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02" title="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02">https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02</a>

Wall Street Journal Reported Late Monday, Barclays In Talks To Take Over GM Credit Cards From Goldman, Citing Sources; Deal For Roughly $2B Of Balances Could Be Reached By Summer

European and US futures are trading lower on the second last day of the week as traders and investors digest the current earnings&rsquo; season while keeping a close eye on the economic data, which is very much not going to shape the monetary policy of central banks, but it could also provide a massive tailwind for the equity markets in the US and in Europe, which they desperately need.
Earlier today, in Europe, we had a mixed bag of earnings from a number of major players. Deutsche Bank (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) and Barclays (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) produced decent earnings numbers. For instance, Barclays, first quarter net income was 1.55 billion pounds, which was way ahead of expectations. Similarly, Deutsche Bank also reported 1.275 billion euros of profit, which is a 10% annual increase. However, both banks failed to impress investors, and their stocks traded in negative territory during the early morning&rsquo;s price action.
Neste, another major player in the consumer sector, also failed to impress markets as it reported a 5.9% fall in sales for the quarter to 22.1 bullion Swiss francs, and most of the drag came from North American markets. However, as always, the shining spot for the company was its organic sales growth&mdash;a trend that many consumers are favouring despite higher inflation pressure, which has already squeezed their disposable income. The company did assure investors that its strategies to promote organic products are still very much in play, and they are expecting another 4% growth, which should help its overall operating profit margin. The stock traded over 4% during the early morning&rsquo;s price action.
While earnings are in focus, investors are paying attention to the big potential M&amp;A news that has given a massive lift to the Anglo American company, which has received a takeover bid from BHP Group. BHP has valued the company at 31.1 billion pounds, and the share price has surged by over 13%. In a time like this, the initial surge is usually only the beginning of a larger rally. If the deal goes through, this BHP Group would become the biggest player in the copper mining playfield, which is already attracting a lot of attention among investors.
Over in the US, the focus will be on the tech sector, as Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) failed to impress investors and its shares tanked, which made Meta lose its market cap by nearly $200 billion. The issue with the company is its big dive into the metaverse and also its headsets, which continue to become less popular than many initially thought. Perhaps the issue here is not the concept but the slow adoption of the technology. But if you look at the earnings on its face value, things were no short of good surprises, as the company not only produced stellar numbers for its profit but also healthy revenue for the first quarter. The core business for Meta still continues to be its advertising, where 98% of its revenue comes from. The company continues to show progress here, and the fact that it has increased its CAPEX means that Zuckerberg has something up his sleeves that he is working on.
Moving away from all of this, the main factor to focus on today is the US GDP data, which is going to either firm up the narrative that the Fed already has or make the Fed think again about their monetary policy. Looking at the recent PMI numbers and other economic indicators, no one is expecting the GDP number to fall off the cliff&mdash;what we need is just about the right number that matches expectations, and the Fed will be more than happy to drum the same beat. The Dow Jones index posted three consecutive weeks of losses; however, this week the index is set to close higher, but by only a small margin. If the sentiment becomes adverse, the current bounce in the price action of the Dow Jones will be nothing more than a dead cat bounce, which means that the index is likely to move lower and could easily test the levels that are shown on the chart. The support level is already tested by the market, and another test could either make a double bottom, which would mean that the only potential way for the price action would be to the upside. However, on the flip side, a break in this zone would open the floor for a much deeper correction for the price action, which could actually last all summer.
<img alt="dow_jones_-_benzinga_25-04.png" src="https://www.benzinga.com/files/u1724330/dow_jones_-_benzinga_25-04.png" style="height:609px; width:624px" />
<a href="https://www.xtb.com/int/education/dow-jones-trading-how-to-invest-in-the-us30-index">US 30 chart by XTB</a>
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Markets Today: Earnings Are Failing To Impress Traders, Dow Jones Flirting With Critical Levels

As of April 25, 2024, three stocks in the financial sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.  
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>)</h3>
<ul>
<li>On April 25, Barclays posted a first-quarter GAAP EPS of 52 cents. The company's stock gained around 4% over the past month and has a <a href="https://www.benzinga.com/quote/BCS">52-week high of</a> $9.98.</li>
<li>RSI Value: 70.48&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>BCS Price Action: Shares of Barclays fell 1% to close at $9.60 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">SLM Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>)</h3>
<ul>
<li>On April 24, SLM posted better-than-expected quarterly earnings. The company's stock gained around 6% over the past five days and <a href="https://www.benzinga.com/quote/SLM">has a 52-week high</a> of $22.21.</li>
<li>RSI Value: 71.88</li>
<li>SLM Price Action: Shares of SLM gained 0.8% to close at $22.10 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</h3>
<ul>
<li>On April 19, American Express said first-quarter revenue (net of interest expense) grew 11% year-on-year to $15.80 billion, marginally beating the consensus of $15.79 billion. Chair and CEO Stephen J. Squeri said, "Our fee-based products accounted for around 70 percent of the new account acquisitions we saw in the quarter, and we continue to see strong demand from Millennial and Gen Z consumers, who accounted for over 60 percent of new consumer account acquisitions globally. Our credit metrics remain best in class." The company's stock gained around 10% over the past five days and has a <a href="https://www.benzinga.com/quote/AXP">52-week high</a> of $240.55.</li>
<li>RSI Value: 73.04</li>
<li>AXP Price Action: Shares of American Express gained 0.1% to close at $239.12 on Wednesday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38402061/jim-cramer-says-this-energy-stock-is-terrific-calls-caseys-general-stores-a-winner">Jim Cramer Says This Energy Stock Is &#8216;Terrific,&#8217; Calls Casey&#8217;s General Stores A &#8216;Winner&#8217;</a>

Short Ideas

Pre-Market Outlook

Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter

WIIM

Barclays shares are trading higher following Q1 financial results.

Group Financial Targets and Outlook: 2024 &bull; Returns: targeting RoTE of greater than 10% and c.10.5% excluding inorganic activity &bull; Income: targeting Barclays Group NII excluding IB and Head Office of c.&pound;10.7bn, of which Barclays UK NII of c.&pound;6.1bn1 &bull; Costs: targeting Group cost: income ratio of c.63%, which includes c.&pound;1bn of gross efficiency savings in 2024 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14% 2026 &bull; Returns: targeting a greater than 12% RoTE &bull; Capital returns: plan to return at least &pound;10bn of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks. Plan to keep total dividend stable at 2023 level in absolute terms, with progressive dividend per share growth driven through share count reduction as a result of increased share buybacks. Dividends will continue to be paid semi-annually. This multi-year plan is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14% &bull; Income: targeting Group total income of c.&pound;30bn &bull; Costs: targeting total Group operating expenses of c.&pound;17.0bn and a Group cost: income ratio of high 50s in percentage terms. This includes total gross efficiency savings of c.&pound;2bn by 2026 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14%&ndash; Targeting IB RWAs of c.50% of Group RWAs in 2026&ndash; Impact of regulatory change on RWAs in line with prior guidance, expected to be at lower end of 5&ndash;10% of Group RWAs. This includes c.&pound;16bn RWAs expected in H224 due to USCB moving to Internal Ratings-Based (IRB) models

Guidance

Barclays Reiterated  2024 Outlook: Targets Barclays Group NII Excluding Barclays Investment Bank And Head Office Of £10.7B, Expects RoTE Of Greater Than 10% In 2024 And 10.5% Excluding Inorganic Activity

Barclays (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.58 by 10.34 percent. The company reported $8.818 billion in sales this quarter. This is a 0.32 percent increase over sales of $8.790 billion the same period last year.

Earnings Misses

Barclays Q1 2024 GAAP EPS $0.52 Misses $0.58 Estimate, Sales $8.818B Up From $8.790B YoY

High-yield dividend stocks continue to attract attention, promising both steady income and potential capital appreciation. As geopolitical tensions grapple economies worldwide, the stock market has been extremely volatile, as evidenced by the CBOE Volatility Index&#8217;s 50% gains year-to-date.
Given this backdrop, investing in affordable stocks with high dividend yields can be beneficial, as investors can bank on steady dividend payouts regardless of the frequent market fluctuations, all without breaking the bank.
<h2 class="wp-block-heading">Barclays</h2>
Despite the volatility that often characterizes the financial sector, Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) has consistently maintained its position as a reliable dividend stock. The British multinational bank pays 54 cents in dividends annually, yielding 5.74% on its current stock price of $9.35.
While the bank&#8217;s financials took a hit last year due to its structural cost-cutting measures, it is currently planning a major overhaul to streamline its operations. The banking giant has set its sights on a comprehensive transformation, highlighted by significant cost reductions, asset divestitures and a restructuring of its core business divisions.
Under this ambitious plan, Barclays will segment its operations into five distinct divisions, a strategic maneuver aimed at enhancing efficiency and focus. The bank is aiming for total gross savings of 2 billion pounds and a robust Return on Tangible Equity surpassing 12% by 2026. Moreover, Barclays is committed to reducing risk exposure within its investment bank, with plans to slash risk-weighted assets to approximately 50% by 2023, down from 58% the previous year.
Additionally, the bank aims to streamline its cost-to-income ratio within the investment bank to the high 50s in percentage terms, a significant improvement from the 69% recorded in the prior year. Barclays has also pledged a staggering 10 billion pounds allocation through dividends and share repurchases between 2024 and 2026, signaling confidence in its future trajectory.
<h2 class="wp-block-heading">Nokia</h2>
In the rapidly evolving telecommunications industry, Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) has established itself as a prominent player. Despite facing stiff competition, Nokia, currently trading at $3.52, remains a solid dividend stock.
The telecom giant currently pays 13 cents in dividends annually, yielding 3.69% on its current stock price.
&#8220;In 2023 we saw a meaningful shift in customer behavior impacting our industry driven by the macro-economic environment and high interest rates along with customer inventory digestion,&#8221; Nokia CEO Pekka Lundmark said.
Nokia&#8217;s reported net profit showed an increase, reaching 438 million euros compared to 289 million euros in the previous year. Similarly, comparable net profit also witnessed growth, rising to 501 million euros from 342 million euros a year earlier.
Earlier this year, on Jan. 25, 2024, Nokia announced plans to initiate a two-year 600 million euro ($653 million) share buyback program in the current quarter. This strategic move follows the company&#8217;s acknowledgment of a profit downturn in the preceding fiscal year of 2023.
Even though JPMorgan has a &#8220;neutral&#8221; rating for NOK, it has a price target of $4.26, indicating a potential upside of over 21%.
<h2 class="wp-block-heading">Kinross Gold</h2>
Amid rising economic uncertainty and market volatility, gold has long been regarded as a safe-haven asset, offering investors a hedge against inflation and geopolitical risks. With gold prices hovering near their all-time highs of $2,383 per ounce earlier this month, investing in affordable gold stocks like Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) could be profitable. Currently trading at $6.77, Kinross Gold pays 12 cents in dividends annually.
&#8220;2023 was a great year at Kinross and I am proud of our global team who achieved the results that underpin our reputation as strong operators. We met our production, cost and capital guidance, and completed our projects at Tasiast and La Coipa. Our portfolio of mines produced solid results, we more than doubled free cash flow year-over-year while maintaining our investment grade balance sheet, and we are carrying this momentum into 2024,&#8221; Kinross Gold President and CEO J. Paul Rollinson said in its last earnings release. &#8220;We expect to deliver another strong year in 2024, producing approximately 2.1 million gold equivalent ounces.&#8221;
The Canadian gold mining company offers investors exposure to the potential upside of gold prices while providing a steady stream of dividend income. As geopolitical tensions persist, Kinross Gold remains well-positioned to benefit from sustained demand for gold as a store of value.
<h2 class="wp-block-heading">A Reliable Income Play Backed By Real Estate Equity</h2>
Cityfunds has introduced an exclusive opportunity for accredited investors to secure an impressive 7% &#8211; 8% APY by capitalizing on the growing $32.6 trillion home equity market. The <a href="https://www.benzinga.com/go/cityfunds-yield-YF">Cityfunds Yield fund</a> provides quarterly distributions and is backed by a diversified portfolio of real estate assets, ensuring stable and robust cash flow with a commitment to safety and high returns.
<h2 class="wp-block-heading">Why the Yield Fund Stands Out</h2>
Cityfunds&#8217; Yield fund targets an 8% annual payout with a guaranteed floor of 7%, significantly higher than many traditional investment options. The fund is backed by collateralized real estate loans and home-equity agreement-backed notes. With a redemption option post a 12-month lock-up and a five-year term, this fund not only offers excellent income potential but also provides the flexibility sophisticated investors seek.
<a href="https://www.benzinga.com/go/cityfunds-yield-YF">Check out the Yield fund.</a>
<h2 class="wp-block-heading">Cityfunds Available to Non-Accredited Investors</h2>
While the Yield fund caters exclusively to accredited investors, Cityfunds offers a variety of other <a href="https://www.benzinga.com/go/cityfunds-yf">investment opportunities available to all</a>. Whether you&#8217;re looking to invest in Dallas, Miami, Los Angeles or one of several other growing markets, each Cityfund is designed to provide investors access to diversified home equity investments across the nation&#8217;s top cities. This approach spreads your investment across multiple properties, enhancing portfolio stability and minimizing risk. <a href="https://www.benzinga.com/go/cityfunds-yf">Check out the cities you can invest in today.</a>

3 High Yield Dividend Stocks You Can Buy For Under $10

UBS Group AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) reportedly aims to establish an office in Menlo Park, California&nbsp;and&nbsp;has recruited Sean Lynch from&nbsp;Barclays Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) to enhance its&nbsp;<a target="_blank" href="https://www.benzinga.com/m-a/24/04/38170014/ubs-navigates-complex-regulatory-terrain-in-bid-for-full-control-of-china-platform" rel="noreferrer noopener">services in advising technology firms</a>.
The&nbsp;timing coincides with expectations of a resurgence in dealmaking and initial public offerings, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-22/ubs-hires-barclays-banker-lynch-for-technology-dealmaking?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reported</a>.
The Swiss bank&nbsp;is set&nbsp;to open its premises on Sand Hill Road, a renowned hub for venture capital firms, in the upcoming months, the report read, citing people familiar with the matter. Certain staff members currently based in UBS&#8217;s San Francisco offices will be relocated to the new location.
Amid its expansion efforts, UBS has brought Barclays&#8217; Lynch on board,&nbsp;specializing in&nbsp;companies such as&nbsp;Uber Technologies,&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Lynch, based in Menlo Park, has been with Barclays since 2013, according to Finra records, Bloomberg added.&nbsp;
Previously, he focused on leveraged finance and&nbsp;played a role in advising&nbsp;on the issuance of approximately $1.7 billion in convertible notes for Uber last year.
As the industry anticipates a rebound in deals after a prolonged slump, banks are gearing up, with many having trimmed thousands of jobs during the downturn.&nbsp;
Competitors like&nbsp;Morgan Stanley&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) have leveraged a presence in Silicon Valley to attract tech companies, while&nbsp;JP Morgan Chase &amp; Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has established a campus in Palo Alto, Bloomberg added.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBSstock has gained over 36% in the past year. Investors can gain exposure to the stock via&nbsp;Avantis International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>) and&nbsp;American Century ETF Trust Avantis Responsible International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSD#NYSE">AVSD</a>).
Price Action:&nbsp;UBS shares closed lower by 0.32% to $27.97 on Monday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

AVDE

American Century ETF Trust Avantis Responsible International Equity ETF

AVSD

TSLA

UBER

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) is a company that&rsquo;s seen incredible growth since its IPO and is a stock many investors still stand behind. That makes sense, given the degree to which TSLA stock has outpaced the Nasdaq and most indexes over the long-term.



However, at its current valuation, investors are starting to question the company&rsquo;s fundamentals and its growth profile moving forward. The rise of other options-friendly stocks in the market &mdash; namely, Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) &mdash; have provided investors with another megacap stock to trade like a penny stock. 



Elon Musk hasn&rsquo;t done himself many favors in catering to his much more left-leaning early adopter base.



Halfway into 2024, TSLA stock has already seen a <a href="https://www.thestreet.com/memestocks/others/tesla-stock-is-down-by-28-buy-the-dip-">28% declin</a>e. Despite this fact, the company&rsquo;s stock price still hovers around $184 per share. Personally, I think TSLA stock is significantly overvalued at this level. Here&rsquo;s why. 



<h2>Overvaluation Is Becoming a Concern</h2>



I&rsquo;m not the only one becoming concerned about Tesla&rsquo;s current valuation. Many investors are starting to question the company&rsquo;s growth path moving forward, with so much of the company&rsquo;s current stock price tied to future earnings which remain uncertain. 



During April 23&rsquo;s earnings call, Musk discussed some of Tesla&rsquo;s plans, including its &ldquo;affordable&rdquo; EV rollout, robotaxis, and increased deliveries in the coming quarters. 



After the earnings report and conference call, Musk received a partial approval of its <a href="https://www.reuters.com/business/autos-transportation/what-is-teslas-full-self-driving-why-its-china-rollout-matters-2024-04-29/">Full Self-Driving launch in China</a>. Despite Musk&rsquo;s optimism for Tesla, Wall Street doesn&rsquo;t seem too impressed because of its disappointing numbers.



As of June 17, earnings per share estimates have declined down to $2.41. The market continues to change their estimates for TSLA for 2024 and 2025. Currently, analysts have an average forecast of $3.29, which was a drastic decline from 2023&rsquo;s $5.27.



Moreover, this company&rsquo;s valuation also contradicts other large-cap automakers, who sport much more attractive forward price-earnings ratios. 



While Tesla is trying to rebrand itself as an AI company, it&rsquo;s becoming increasingly clear to more investors this is a car company first. On this basis, it&rsquo;s hard to understand why such a premium multiple exists.



<h2>Fundamentals Appear to Be Deteriorating</h2>



Although the company&rsquo;s technological achievements have been impressive, investors may still want to take caution with Tesla. Macroeconomic challenges and high interest rates continue to persist. These factors will continue to hamper the stock, alongside its peers in the EV and general automotive sectors.&nbsp;



Amid concerns of lower demand and price pressures, Tesla has <a href="https://www.cnbc.com/2024/06/21/tesla-has-downsized-by-at-least-14percent-this-year-internal-number-shows.html">streamlined</a> its workforce to about 121,000 globally. These job cuts included temporary staff, marking a reduction of over 14% this year. That&rsquo;s not bullish for those assigning some sort of growth premium to this stock. 



The count is based on Tesla&rsquo;s email distribution list as of June 17, not payroll data. CEO Elon Musk announced plans to reintroduce stock options for exceptional performance after pausing such awards earlier, as reported earlier by Reuters.



Investors&rsquo; high valuation reflects optimistic expectations: envisioning Tesla under Elon Musk as a global robotaxi fleet, energy giant, or AI leader. However, paying a steep premium for such uncertain prospects may not be prudent.



<h2>TSLA Stock Remains a No-Brainer Sell</h2>



Barclays (NYSE:<a href="https://investorplace.com/stock-quotes/bcs-stock-quote/">BCS</a>) are among the analysts taking a <a href="https://www.teslarati.com/tesla-tsla-barclays-q2-2024-concerns/">cautious approach to Tesla</a> ahead of Q2 2024 results, maintaining an &ldquo;Equal-Weight&rdquo; rating with a $180 per share target. Analysts expected Tesla would deliver about 415,000 vehicles, an increase from Q1&rsquo;s 386,810 but below the consensus of 444,000 units.



Analysts continue to warn that another miss in Q2 could worsen Tesla&rsquo;s financial outlook, potentially leading to lower margins and further negative earnings per share revisions for 2024 and 2025. I agree and think TSLA stock is one to avoid in this current environment.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/06/tesla-stock-plunge-is-tslas-28-drop-just-the-beginning/">Tesla Stock Plunge: Is TSLA&#8217;s 28% Drop Just the Beginning?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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The annual Wimbledon tennis tournament is now underway and runs through July 14. One of the biggest sporting events in the world and the most prestigious of tennis&rsquo; four grand slam events, Wimbledon attracts a global audience of more than 50 million people. American tennis great John McEnroe, who won three singles titles and five doubles titles at the event has <a href="https://www.brainyquote.com/quotes/john_mcenroe_789823">said</a>: &ldquo;There&rsquo;s a certain beauty and majesty to Wimbledon.&rdquo;



There&rsquo;s also <a href="https://www.spglobal.com/marketintelligence/en/news-insights/research/the-economics-of-the-wimbledon-tennis-championship">a lot of money spent</a>. In 2023, 54 million people watched and streamed the tournament and another <a href="https://www.wimbledon.com/en_GB/atoz/faq_and_facts_and_figures.html">532,651 attended in-person</a>. This generated a record revenue of &pound;350.1 million (US$442.6 million), and a record operating profit of &pound;81.2 million (US$102.6 million). Leading brands and companies from around the world line-up to sponsor partner with Wimbledon.



Here is game, set, match: three stocks to buy, as they could see a Wimbledon boost.



<h2>Amer Sports (AS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/basketball_sports_1600-300x169.jpg" alt="A basketball player makes a slam dunk in a crowded arena."><div>Source: Alex Kravtsov / Shutterstock.com</div></div>Amer Sports (NYSE:<a href="https://investorplace.com/stock-quotes/as-stock-quote/">AS</a>) held its initial public offering in New York in January of this year. The Helsinki, Finland-based company has been a going concern since 1950 and went public at a valuation of $8.7 billion. Since its market debut, AS stock has traded sideways and is down 3% on the year. However, if there&rsquo;s a sporting event that could drive <a href="https://www.investing.com/news/company-news/analyst-maintains-buy-rating-on-amer-sports-amid-expectations-of-growth-93CH-3495979">Amer Sports share price</a> higher, it is Wimbledon.



That&rsquo;s because Amer Sports main product is Wilson tennis rackets. Its main endorsement deal is with tennis legend and 20-time grand slam champion Roger Federer. Look for heavy advertising of Amer Sports&rsquo; tennis rackets during the British tournament. In addition to its tennis rackets, Amer also makes Arc&rsquo;teryx running shoes and Atomic skis. But the company is most closely associated with <a href="https://www.reuters.com/business/retail-consumer/wilson-tennis-racket-maker-amer-sports-beats-q1-estimates-robust-demand-2024-05-21/">Wilson-branded tennis rackets</a>.



<h2>Barclays (BCS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/barclays1600-300x169.jpg" alt="the Barclays (BCS) logo"><div>Source: chrisdorney / Shutterstock.com</div></div>The <a href="https://home.barclays/who-we-are/sponsorship/wimbledon/">biggest sponsor of Wimbledon</a> is British bank Barclays (NYSE:<a href="https://investorplace.com/stock-quotes/bcs-stock-quote/">BCS</a>). While the lender has never disclosed the value of its sponsorship, it has been reported as &pound;20 million (US$25 million) annually. Barclays is the official bank of the Wimbledon tournament and this year became the tournament&rsquo;s official <a href="https://home.barclays/who-we-are/sponsorship/">Parks and Participation Partner</a>. Like Amer Sports, Barclays heavily advertises and promotes its sponsorship of Wimbledon as the grand slam event is broadcast worldwide.



As with Amer Sports, Barclays and its stock could use a lift from Wimbledon. The British lender is in the midst of a <a href="https://www.wsj.com/finance/barclays-outlines-returns-targets-to-2026-e1fd76a2">strategic operational overhaul</a> after reporting a net loss of &pound;111 million (US$14o million) at the end of last year. The operational overhaul includes cost cuts, asset sales and a reorganization of its business divisions. Going forward, the bank will be divided into five operating divisions, separating the corporate and investment banking sides.



BCS stock is up over 35% this year but has only gained 40% over the last five years.



<h2>Ralph Lauren (RL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/ralph-lauren-rl-stock-1600-2-300x169.jpg" alt="A Ralph Lauren outlet, October 21, 2013, Geneva, Switzerland."><div>Source: Martin Good / Shutterstock.com</div></div>Like Barclays, clothing retailer Ralph Lauren (NYSE:<a href="https://investorplace.com/stock-quotes/rl-stock-quote/">RL</a>) has been a major long-term partner of the Wimbledon tennis tournament. The company has <a href="https://www.wimbledon.com/en_GB/atoz/official_partners.html">designed the outfits worn</a> by Wimbledon&rsquo;s on-court officials since 2006. Additionally, Ralph Lauren launches an exclusively designed Wimbledon clothing collection each summer and operates a flagship store within the Wimbledon Village at the All England Lawn Tennis Club.



This is all to say that Ralph Lauren gets great exposure during Wimbledon. The company&rsquo;s association with tennis makes sense given the sport&rsquo;s wealthy atmosphere and reputation for preppy attire. Ralph Lauren this summer is set to get more attention than usual from its ties to sports as it is also <a href="https://www.cnn.com/2024/06/18/style/team-usa-olympic-uniforms-ralph-lauren/index.html#:~:text=Ralph%20Lauren%20designs%20Team%20USA's%20uniforms%20for%20the%202024%20Olympics">designing Team USA&rsquo;s uniforms</a> for the upcoming Summer Olympics being held in Paris, France July 26 to August 11. RL stock has been on an upswing lately, <a href="https://finance.yahoo.com/news/ralph-lauren-rl-laps-stock-220018495.html">having gained over 40%</a> over the last 12 months.



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/game-set-match-3-stocks-that-could-see-a-wimbledon-boost/">Game, Set, Match: 3 Stocks That Could See a Wimbledon Boost</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Game, Set, Match: 3 Stocks That Could See a Wimbledon Boost

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Barclays

Barclays (BCS) Forecast

Barclays (NYSE:BCS) Stock, Quote.Headers.trade-ideas