23 Burst results for "Canaccord Genuity"
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"With strength News a Paul little and bit of more Sweeney insight the than U and .S. what from they're consumer. Matt indicating Bloomberg Miller. This is as experts. a market We got small that's a lot of and There's green much still medium on more some the -sized screen optimistic concern here, businesses out but the or The there volume bullish in struggle the is market than light. supply maybe that they chain central We constantly there is has don't bankers room still underestimate are. for present got Breaking dislocations things as Market to much globally and here in the U .S. This is Bloomberg Markets with Paul Sweeney and Matt Miller on Bloomberg Radio. Alright, coming up in this hour, we're going to have more reporting on the Israeli conflict. We're going to get Sam Dauer reporter on Saudi Arabia with Bloomberg News joins us from Dubai. We'll get that angle of the story. Plus, Fernando Valle, he is the senior energy analyst with Bloomberg Intelligence. Get the latest on the global energy given space what is going on in the Middle East and we'll focus on Chevron in particular. And then Jennifer Lee, senior economist and managing director of BMO Capital Markets will join us to discuss the Fed and what we can look for in terms of some of the inflation data we're going to get starting tomorrow and the remainder of the week. But first, let's kick this hour off like we do with Mr. John Takahashi. All right, I'll start off with data just coming across the tape. New York Fed, one year inflation expectation coming in at 3 .67%. That was prior above the reading of 3 .63. As for markets, sharply lower treasury yields in the hopes Fed may be finished raising interest rates. That has stocks rising today. PepsiCo, that's higher after the beverage and snack giant reported third quarter earnings. Looking forward, the banks, they're going to be opening their books later this week, Friday as earnings season starts. Market strategist Tony Dwyer at Canaccord Genuity says this is not the time to buy those stocks just yet. I don't think it's going to be great. Bank lending standards are tightening. NFIB just came out a little while ago. Small businesses aren't optimistic. The business side for credit to improve. CitiGroup, JP Morgan, Wells Fargo, BlackRock results quarterly season against. That kicks off on Friday. This week inflation day to PPI.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Canaccord Genuity to sell up to 15 million of stock and reported third quarter revenue that missed Wall Street estimates blue apron shares right now in the red, blue apron down 41.7%. I'm Charlie powder that is a Bloomberg business flash. Or something like that. I mean, there are other people that are like, it depends on if you add up all the Kardashians together. I mean, that other some of her sisters are worth more than a $1 billion. Yeah, I mean, they've figured out she's got her own plane. It's like a very expensive new plane. Let's get a business that doubled its valuation earlier this year. Yeah. She's getting into private equity. Did you see that? A few weeks ago? She's figuring it out. I would say. Former guy from Carlisle. Is it? Yeah. That's running it? Yeah, with Kim Kardashian. All right, the story that keeps on giving, all right, right now though, speaking of the story that keeps on giving, we have heard from so many fed speakers, we just talked about it, deep dive into what's going on with the dollar as a result of fed policy monetary policy here in the United States the implications of. So we wanted to talk a little bit more about a story that's on the Bloomberg and how we are beginning to maybe see cracks or early splintering when it comes to the fed message. So let's get to it. We got Craig Torres with us. Federal Reserve and U.S. economy reporter for Bloomberg news, Craig this afternoon joining us on the phone from Washington, D.C.. Craig, how far do we have to squint to read between the lines of what all of these fed speakers have been saying over the last week to actually find any sort of difference when it comes to the speed to peak rates. Not very far if you know what to look for. So I would say it's best represented by two people right now. On the one hand, Cleveland fed president Loretta master. Loretta thinks this is a very unusual and different environment where we've been above target for months and months, there's no sign of inflation relenting and sort of shifting down to the gradualism that we saw for many years in fed policy would be a huge mistake. In her own words, policies has to be asymmetric. In other words, being too tight is less costly than being too loose. On the other side, we heard from vice chair. I want to underscore that vice chair, lael brainard. And she said, well, let's not forget about lags. We've been running pretty hard here. Maybe it's time to start to be more data dependent and look around. That's kind of where the debate is right now. All right, so who's more important, mom or dad? No, I'm just kidding. But who's more important? I'm assuming Lil brainard, right? She's the number two at the fed. Well, you could say that, but remember in the, what's cool about this Carol is markets seem evenly split on this view, right? They have like two and a half hikes priced in. So they're not the weighing machine of the market is not giving more credence to one or the other, which I think is good. And second, remember the 2022 dots, we have 8 and 9. In terms of people wanting how many hikes they want for the rest of the year, not 8 or 9 hikes, but there's one group that wants a quarter point more than the first group. So, you know, it's a healthy debate. It's interesting. The debate could shift to based on the economic data we get this week, namely the change non farm payrolls that we see at the end of the week. Analysts are made by Bloomberg are still expecting a 265,000 person gain when it comes to those jobs. That's less than last month. Fewer than last month, 315 K, does any of this matter, Craig, if we get a blowout number in the jobs report? I think it matters. One thing that's just stunning is how. Resilient the U.S. economy is, right? It's held up pretty well. And the job market, I think, is being driven by the fact that we're going to be short on a secular basis. With regard to labor for a long time. And that story is about long COVID. It's about retirement and reduced immigration flows. Yeah. In terms of the longer growth impact, right? What comes, what happens on the other side of this? And how we recover after this fed rate cycle, right? That's kind of what you're getting to. I'm glad you mentioned that because we're just, I think everybody listening to us should pay attention to this. Tom barkin at the Richmond fed is out with a speech today. We're seeing it in other beneficials. We're starting to talk about the new secular. Secular order, not cyclical. What is the world we're going to have post COVID? And it may be a world where inflation forces are a bit higher because we don't have abundant energy. Globalization is disrupted and labor supply is more limited. This, okay. Okay. Carol just put her hands up I don't know if you saw on YouTube. She was just like, put her hands up like she's like, I've been saying this people. No, no, no, no. People much smarter than me, but the story that we did on Friday about the Cambridge professor, it was by the Bloomberg opinion piece. Bluebird opinion piece, and it basically that the earth does not have an endless amount of resources. So if we think growth is just going to kind of constantly come from Tapping earth. Buchanan was our guest on. Mark Buchanan, we're crazy. And we need to rethink and I agree that I love what you said, this new secular order. Life has got to be different with these big right Craig, macro issues, the shift off of fossil fuel. The shift because of the impact of climate change. I mean, look, we're talking about food shortages. I agree, like these higher costs that maybe are staying with us. It's different post pandemic. Yeah, now I don't want to be sorry, I'm like a little crazy. No, I don't want to be malthusian and say, okay, everybody stop having children because the planet's resources are limited. They is technology and innovation. And so. It takes years. That'll take like 15 years before we figure out how to get away from carbon, maybe longer. I don't know. But in the near term, I think the big issue for the fed is labor supply. It just doesn't look like it's coming back. All that, if you look at labor force and participation, low slow climb. Right. And I don't know what it is. You know, what do you get? Let's not say these are lazy people, okay? I don't like that. No, I'm not sure why they're not coming back, but something's going on. What do you guys think? Craig, I don't know. We scratch our heads and you're gonna have to come back and continue because we've got to unfortunately go off to news, but I agree. I don't know. We scratch our heads constantly when we try to figure out why aren't people coming back to the labor market? A big thank you to Craig Torres for joining us from Washington, D.C.. Let's stay in Washington D.C. at the world of national news with Nancy Lyons and ants. Thanks, Tim. President Biden is in Puerto Rico where he's committing millions to strengthen the island's resilience to flooding. We have to ensure that when the next hurricane strikes Puerto Rico is ready. Today, I'm announcing more than $60 million in funding to help coastal areas in Puerto Rico. Become better prepared for the store
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"To make a call on the market. Breaking market news and inside from Bloomberg experts. Politicians almost always want lower interest rates. The fed's going to keep on fighting. It's the macroeconomic headwinds that are really worrying here. Value continues to break hearts. Now people think of cash as being dirty. No one wants to touch it. This is Bloomberg markets. With all Sweeney and Matt Miller. On Bloomberg radio. Very good Wednesday morning from the Bloomberg interactive broker studio in New York City to our worldwide audience. Boy we had some inflation numbers today that came in much better than expected it. I won my back. You won your bet, big time. I mean, that was a peak inflation last week. Well, good news all around, basically. Unless you were betting against the market, right? Because yeah, I mean, you had the good jobs number last week. And then you've got better than expected inflation. Yes, inflation is still a big issue. You don't want to minimize that. But inflation peaking coming down, you know, one could argue that this Federal Reserve is seeing a little bit of leeway here in terms of what it needs to do going forward because I guess the last thing we were talking about just yesterday would have been 75 basis points for the next fed move. But that'll still happen. I'm going to bet that will still happen. Maybe you should double down on your bet with critic and see what goes. I will do that for sure. Because I think we're not going to go higher on headline inflation and I think the fed is going to continue at least for one more meeting because it would be the worst thing for them to turn around and then have inflation pop back up. Again, so it's 75 basis points or maybe even 50 right now. So we've got the markets moving on that. Let's go to barely lip show tease our markets correspondent. He is in our Bloomberg after broker studio. He's sporting a beard, which I'm not too happy about, but if that makes him happy, what do you got first, Bailey? Yeah, pandemic travails die hard. Yes. Paul's like it falls like a Red Sox guy and no Yankees guy and you're like a Red Sox guy. Right. And you have a red beard For those of you listening on radio, check out that huge and oh by the way, we're waiting on comments from President Biden from The White House presumably talking about some of this economic data that's been coming out the last couple of days. But Bailey, the market likes what it saw today from the inflation perspective. Yeah, the market is absolutely ripping very much a risk on trade as you guys had mentioned inflation probably has peaked and was cooler than expected, but also still far higher than would be good in most every other environment. But we are seeing very much a rotation back into the NASDAQ 100, some of those technology companies that have rallied off the low one thing to keep in mind is that we could if we see the NASDAQ 100 continue to bid up higher, it could close into a quote unquote bull market, meaning 20% off the lows, but obviously just given the view from the entire year that probably means not that much. But we'll be interesting to see what happens with PPI tomorrow. We still have a pretty busy week of economic data and then we'll have another inflation readout ahead of the September. You know, it's interesting. We were just talking to Tony the wire strategist at Canaccord Genuity and saying, hey, is this real or is this just kind of a little bit of a balance? And he was in a, there's a guy who I would call generally a bullish strategist over the years permeable. He was a little cautious here. You know, it's interesting. Some of the people that are just, they're not quite buying this, understandably. Because there's still a lot of challenges out there, economic wise. Even intra firm. The great story today about, I think it was like Evercore ISI. And they have a technical analyst which let's be honest. Technical analysis, a bunch of BS. But then they also had Julian Emmanuel saying, you know, I think that we're still in a bear market, but yes, investors are very confused. Yeah, I don't think anyone knows. I mean, looking at some of the reactions I've gotten from money managers has been basically awesome stocks are going to rally today. Things are great, but we're far from out of the Woods, and that's really been kind of the underlying theme, especially when you take the view a longer term view and look at it from the sense that once you kind of get past how fast and how much the fed will hike, earnings are actually going to matter at some point and whether or not we are on the path to at least a U.S. but global recession is still going to matter when you look at some of the commentary over the last week from the BOE, obviously there are still are a lot of jitters and there's still so much uncertainty about what this actually means because if you still have an 8 handle on inflation that doesn't mean that life is going to be. By the way, what is the earnings picture look like right now? How are we doing in terms of earnings growth? I've got the answer. I've got the answer. I just looked at the EA go function. 450 out of the S&P 500 companies have reported. And we've got revenue beat by two, 3%, and EPS by a little bit better than that four or 5%. So that, I guess, Billy, when you look at it relative to prior periods, that's not that impressive, but I think the expectation was, there's gonna be some misses here, some big time misses and maybe not. No, exactly. And I think that's why you saw the rally a few weeks ago is that earnings were not as bad as they could be, but looking out into the final quarter of 2022 into 2023. A lot of these estimates are coming down quite a bit. And that's one of the main stories that we saw with companies like Microsoft and some of these large cap technology companies that very much drive this market is that while the P and P E has come down over the last year, the E is also dropping. All right, I'm looking here at all securities in the U.S., sales beat by 6.02% and earnings beat by 3.24%. They are beats and they're honestly they're better beats than we saw in the last quarter. Last reporting quarter and just as good as the previous, but going back, traditionally you want you to want to see beats that are bigger percentage beats than that. No, exactly. And I think that's been the main topic of conversation is that while on paper they are beats, it's not a huge home run and you're not seeing expansion like you would want or would hope would be playing out just given again all the concerns and everything underlying this entire market. You know, it's an interesting here. I mean, we're waiting President Biden in The White House. He'll have some comments in just moments, and we'll bring that to you. He's going to sign the inflation reduction act. Yeah, nice. Will it reduce inflation? He says it well. But some people are concerned, no, not so sure, but it's a nice descriptive title. And here he comes into the room and we're looking at the, I'm not sure where exactly in The White House he is, but he's coming up to the point. Gold curtains. A lot of flags. A lot of flags. Looks like a ton of vets in the audience, which is interesting for an inflation reduction act signing. Exactly. And no, we don't have the sunglasses because he's inside. We don't have the aviators. True. Well, I hope he's recovered from yesterday's looked like a little lingering COVID when he was harassing the chips act, which by the way, the chips, you know, chip stocks got absolutely crushed yesterday. You know, across the board. And now that he's going to give him an extra $52 billion in subsidies, maybe the outlook is a little bit better. Yeah, we're also getting some
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"The Bloomberg business out and at Bloomberg quick tape. This is a Bloomberg business lash. From woodburn world, headquarters. I'm Charlie palata Thursday rally stocks are higher as recent economic data alleviates concerns that inflation is too hot to be tamed. Commodities from oil to copper jumped as the dollar retreated for the first time in 5 days. The S&P 500 Index is up 49 points now. That is a gain of 1.25%. The Dow's advancing 266 points up 9 tenths of 1% and has stacked composite indexes up 227 higher now by 2%. The ten year yield 3.00% the two year yield 3.05% spot gold up $4 the ounce to 1742 hired by two tenths of 1%, while West Texas intermediate crude oil is surging 5.3% to one O three 81 a barrel on West Texas and immediate crude. So an update across the board for the U.S. stock market has for the market backdrop and the outlook for earnings. Tony dwyer is equity strategist at Canaccord, Genuity. The only thing that can allow us to look through the coming slowdown in academic activity and earnings. To me is when the fed signals a major change since I've been doing this since 1987 and I can't remember a major correction in the market where the bottom didn't come with a signaling change from the fed. GameStop shares are rallying following the announcement of a four for one stock split in the form of a dividend becoming one of the latest companies to do so as the practice has gained in popularity. Game share GameStop shares they're up now by just about 12.4%. Weekly jobless claims rose to 235,000 the highest since January rising interest rates aimed at curbing inflation are weighing on growth. Tomorrow morning, the government will issue June payroll data economists anticipate moderation, complete coverage at 8 30 a.m. Wall Street time when that number breaks right here on Bloomberg radio. One O two on Wall Street time now for the market drivers report with a focus on American depository receipts. And here's Abigail Doolittle. Thanks Charlie and similar to the broader markets ADRs are broadly rallying, starting out with the China tech ADR's the NASDAQ golden dragon index comprised of China tech ADRs well it's up about 4%. This is lots of the ADRs within such as Alibaba JD.com Baidu and neo climbed between three to 7%, not so shabby. This, of course, in the possibility of $220 billion of stimulus from the Chinese government, but the rally extends to natural resource ADRs such as BP, the energy giant of 3.7% of Rio tinto is a minor of 3.3% those ADRs are rallying, respectively with oil up 5% and some metals up about 4%. Charlie? Okay, we thank you very much, Abigail, do a little keeping track of those ADRs. So again, recapping, we've got ourselves a rally with the Dow, the S&P and nesta all advancing S&P up right now by 48 points up 1.3% ten year yield 3.00% the two year yield three 4%. I'm Charlie peloton that is a Bloomberg business flash. This is balance and power with David Weston. Inflation is a bigger risk because it's here. It's real, and if inflation doesn't come under control quickly, it does enormous long-term damage. We have employees who are being bombarded by these rising energy costs. Where the world of politics meets the world of business. There aren't a lot of inflation fighting policies outside of what the fed can do. The American consumer like consumers really all over the world are paying a Putin tax. Balance of power with David Westin on Bloomberg radio, Boris Johnson makes it official Britain will have a new prime minister and a line or maybe we should call it a queue of candidates forms, while the United States will wait for jobs numbers tomorrow with clues on what the fed will do next. From the Bloomberg interactive broker studio in New York, welcome to the second hour of bounce of power. I'm David Westin
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Good morning I'm Nathan Hager And I'm Karen Moscow and futures are lower to start the week We are coming up to 6 O one on Wall Street We check the markets every 15 minutes throughout the trading day On Bloomberg S&P futures are down almost 15 points this morning down features down 19 NASDAQ futures down 102 Ten year treasury down 1330 seconds yield 2.75% and the yield on the two year 2.57% 9 X crude oil is down two and a half percent on $2 48 cents at $95 78 cents a barrel The Euro is at 1.0925 against the dollar Nathan All right Karen we'll have more on the markets in a minute First the latest on the war in Ukraine Austria's Chancellor says he will meet with Russian president Vladimir Putin in Moscow today as fighting intensifies in the east Ukraine says Russian missiles destroyed the airport in its fourth largest city dnipro president Vladimir zelensky says he expects Russia to turn to even more large scale action this week In an interview on CBS 60 minutes correspondent Scott pelley asks zelensky what Ukraine needs from the U.S. and NATO Number one they need to be very serious about it They definitely understand what I'm talking about right now They have to supply weapons to Ukraine as if they were defending themselves and their own people Ukrainian president volodymyr zelensky made those comments on CBS's 60 minutes which can be heard every Sunday on Bloomberg 99 one in Washington Meanwhile Nathan cries are growing louder around the world for Russia to face a war crimes tribunal to get the story from Bloomberg said Baxter NSA director Jake Sullivan says it's gone beyond the pale I think we can all say that these are mass atrocities These are war crimes These are shocking and brutal acts that are completely unacceptable beyond the pale for the international community Sullivan on ABC has heard here on Bloomberg says they lead directly to Vladimir Putin Make no mistake The larger issue of broad scale war crimes and atrocities in Ukraine lies at the feet of the Kremlin This as Ukraine expects a major Russian invasion of the east In San Francisco Ahmed Baxter Bloomberg daybreak All right Ed thanks turning to politics A runoff election is coming in the presidential race in France President Emmanuel Macron will square off with nationalist marine le pen after a tight first round vote We get more from Bloomberg's francine LaCroix in Paris It's a rerun of their 2017 contest According to first projections Macron got around 28% of the vote compared with about 24% for lupin in the first round But a Macron win is far from certain as votes from trailing candidates such as Jean Luc melon LEGO to le pen while the president's perceived arrogance turned off many voters and helped lupin to frame him as a president for the rich He's made France a favored destination for foreign investors and pushed employment to the highest on record In Paris and France in la Croix Bloomberg daybreak Right francine thank you another major story we are following involves the U.S. economy The relentless rise of treasury yields continues to send waves through global markets ten year yields climb through 2.75% for the first time in more than three years as investors priced in the impact of the Federal Reserve's tightening plan and accelerating inflation Cleveland fed president Loretta mester is confident the U.S. will avoid a recession despite the high inflation I think that it will take some time to get inflation down because as you know there's other things going on in the economy that are adding to price pressures including the commodity price increases in energy price increases that are happening As well So I think inflation will remain above 2% this year and even next year But the trajectory will be that will be moving down And Cleveland fed president Loretta mester made the comments on CBS's face as a nation which can be heard Sundays on Bloomberg radio Another major story is developing on the equity front Karen It has shares of Twitter sliding this morning Elon Musk has decided not to join the board of the social media company After all let's get the latest live from Bloomberg's or need a young good morning Good morning Nathan It was just a week ago that Twitter soared more than 27% after Elon Musk took his 9.2% stake in the company Twitter said shortly after that Musk would join the board and the billionaire has been vocal about changes he'd like to see at Twitter in the name of free speech But Musk's abrupt reversal in his decision to join the board ignites renewed speculation about his intentions for Twitter as its largest individual shareholder And if he does not join the board Musk would not be subject to an agreement to keep his stake at no more than 14.9% Live in New York I'm renita young Bloomberg day break We need to thank you while the Musk news is having an impact on the blank check company that is bringing Donald Trump's media venture public digital world acquisition Is that more than 8% in pre market trading Well earnings will also be in focus this week Karen with big banks kicking off reporting season for the first quarter We get more from Bloomberg's Charlie pellet Investors will learn how Wall Street fared last quarter amid heightened volatility stemming from the Russia Ukraine conflict and a focus on the Federal Reserve's tightening path Tony dwyer is equity strategist at Canaccord Genuity It's going to be a positive earnings season The commentary is going to be sketchy It's going to create this volatility JPMorgan Chase will be first out of the gate with earnings on Wednesday Thursday gets very busy with reports from Citigroup Wells Fargo Goldman Sachs Morgan Stanley and PNC In New York Charlie pellet Bloomberg daybreak Right Shirley Thank you Turning to the pandemic COVID is back on the rise driven by the BA two omicron sub variant Infections are at their highest levels in about a month White House chief medical adviser doctor Anthony Fauci says Americans will need to make their own risk assessments going forward There will be a level of infection This is not going to be eradicated and it's not going to be eliminated And what's going to happen is that we're going to see that each individual is going to have to make their calculation of the amount of risk that they want to take And Anthony Fauci made the comments on ABC's this week which can be heard some days on Bloomberg radio And futures are moving lower this morning straight ahead your latest local headlines plus a check of sports and this is Bloomberg Thanks Karen 6 O 7 on Wall Street.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"I'm John Tucker in the Bloomberg museum with his Bloomberg business flash volatility gripping the financial markets today S&P 500 heading toward its second week of losses If treasury yields climbing alongside the dollar disappointing trading results from JPMorgan and Citigroup setting the tone for the earnings season they're weighing on the banks The exception Wells Fargo climbing in a bullish projection for a key measure of London Thomas John silvia Caroline is investment consulting tells Bloomberg he's betting on a march liftoff from the Federal Reserve At this point the answer is yes The inflation I'm going to continue to surprise there was no deceleration and the CPI numbers over the last month And at Canaccord Genuity the chief market strategist there Tony dreyer says despite volatility there should be a positive year We have monetary policy uncertainty at fiscal policy uncertainty of economic policy uncertainty and some geopolitical issues So we expected the volatility early in the year but I think it's going to end the year on a really well good note on earnings And JPMorgan chief Jamie Dimon says the Federal Reserve could lift breaks as many as 7 times warning that tightening won't necessarily be as sweet and gentle as some might expect Retail sales posted the largest decline at ten months in December the weakness across sectors reflecting a surge in coronavirus cases and the sharpest run up in consumer prices at about four decades even online sales moderated and the University of Michigan reports confidence in America's economy wavered in early January with sediment registering the second week as showing in a decade Right now the downtown 331 points S&P 500 down 22 the NASDAQ down 28 On John Tucker this is Bloomberg This is balance of power on Bloomberg television and radio I'm David Weston Monday marks the holiday celebrating the life of doctor Martin Luther King Jr. and the NAACP and others have focused their efforts to get federal voting legislation passed on this important day for a prospective on the voting rights issues and prospects for change Welcome to Derek Johnson He is the president and CEO of the NAACP So thank you mister Johnson so much for being with us Give us a sense of what you're doing to try to refocus efforts particularly around the Martin Luther King Jr. holiday What do I protection is the most important to any democracy of NAACP with many of our partners we are working as hard as possible to get the city to adopt for treatment to vote act and the John Lewis voter re optimization act It's really important that we protect the rights of voters We can not go into a celebration of doctor king and his legacy and the exact same time undermine the very thing he was advocating for The right for all Americans to fully engage and participate in this democracy So give us your best sense of what's going on up on Capitol Hill because we saw President Biden as we go down to Atlanta give a rousing speech saying this is his number one priority At the same time it doesn't look like he has the support and perhaps that he needs particularly in the Senate up on Capitol Hill Well unfortunately if you take a look at the hundred members of the Senate they have create a real partisan divide over the right to vote That's something we have not seen since the 1960s The 2006 for example 98 members of the Senate 16 of whom are still sitting senators supportive optimization of the Voting Rights Act And today there's this huge partisan divide preventing individuals to move forward to protect democracy and to protect the right to vote I think at this time we need the business community also to stand up and advocate for voting right protection It's not a partisan issue It is a issue to support and protect our democracy I must say for my point of view you just put your finger right on it Is it partisan or not Because voting one would think is one of the most fundamental issues in our Republican It should not really be a person Yet the more we hear from Democrats about voting the more we hear from Republicans the other side it seems like the more it's talked about the more partisan it becomes Well what we have with particularly over the last 5 years as it has accelerated it is stubbornness among the political party who truly addressing and moving in the direction that's more representative of all Americans And so we have Mitch McConnell on one side join the line in the sand telling member the Republican parties that you can't cross this line Therefore those 60 members who supported a re optimization in 2006 who are sitting in the Senate have not done what they would have naturally are done This is an issue that Ronald Reagan supported when we authorized an 80 both George Bush junior and senior supported So it's not a partisan issue Then on other extreme of the conversation they are also concerned What we need to do as Americans is to ensure the protection of the rights to all voters create a federal standard that allow people access to voting And we have not seen the type of coming together Senate members that say you know what outside of the partisanship we need to do this to protect our constitution to protect our democracy And now the business community must step up And that's the key ingredient at this moment The business community must step up in that spirit of bipartisanship trying to get past some of the partnerships surrounding voting We hear a lot about access from the Democrat side and goodness knows in the abstract We all have to be for access to the voting booth But we don't hear about integrity Is there room Do some Republicans have some points that you could agree with on the integrity side that we can have access with preserving the integrity of the process Well that's not even a question of integrity of the voting system in 2020 a Trump appointee said this was the safest most secure election that we have had in the history of our elections 61 lawsuits by the foster company and Trump appointed judges that there was no evidence of both tampering or voter fraud So we can not chase a goals We need to deal with the facts We need to make sure that we enhance integrity open up access so that we can have confidence that our voting system and that confidence can be bred at through a federal floor A federal standard that everybody can say that the 15 days there's early voting And this is how elections are carried out that election officials are not intimidated or run from their home as is what has happened in a state like Georgia or once the will of voters ascertained a state legislative body can not come and disagree with the will of voters that overturn the election that certified differently.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Audience in this Friday We made it coming up We're gonna check in with Jennifer Lee senior economist and managing director of BMO capital markets Talk about these retail sales came in well below expectations Plus David Reilly chief investment strategist at blue bay asset management get his thoughts on where he's putting money to work here in 2022 but right now let's go to John Tucker and get a Bloomberg business flash John All right let's start off with how we're feeling University of Michigan A sentiment consumer sentiment coming a little below expectations right now 68.8 economist surveyed by Bloomberg we're looking for a number around 70 Paul While sing a bit of a comeback with a major averages well off the lows of the session that has that composite index is up right now up 35 points 14,840 the S&P 500 shaving some of the earlier losses now down just 8 points that engines industrial average is down 212 JPMorgan Chase Citigroup delivering disappointing results the financials right now biggest drag in the S&P 500 Wells Fargo did record higher than estimated revenue BlackRock also becoming the first public asset manager to hit $10 trillion in assets They got a big boost in the fourth quarter for money pouring into their exchange traded funds And over at Canaccord Genuity the cheap market strategies there Tony dwyer says despite volatility they should be a positive year We have monetary policy uncertainty.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Danny burger Andrew poor tennis European retail research at HSBC joins us And she thinks so much for joining us It seems very earnings One thing stood out to me that a lot of the strong volumes were due to low pricing into the holiday season What's occurring right now with UK grocers and margins Are they not able to enjoy strong margins that many under other industries have in this era of price hikes Well I think clearly last year the inflation was the story But I think actually in food it was very slow to come through And so we were talking about it a lot last year but really it was only those later months where you started to see prices at an industry level tick up I think at the same time Sainsbury's in particular were focusing on lower prices particularly in that core basket and showed data But I think inflation is really going to come through more this year than it did last year even though we obviously did talk about it a lot last year It looks like we might see some more normalization So some volumes come out of the market Inflation is coming through but does that present some challenges So I think overall our feeling at the moment is we're quite constructive on the sector I think the sector is behaving relatively well And we see a lot of momentum coming into the year But I think there are some challenges around to Here more conversations like this one on Bloomberg television streaming live or Bloomberg dot com and on the Bluebird mobile app Or check your local cable listings You're going to be awesome Bloomberg is fastest with the numbers And analysis Amazon crossing the Bloomberg terminal Where are investors seeing the weaknesses it means profits down the line earnings season on Bloomberg television and radio The problem that you have early in the years the fed is in a box You have monetary policy uncertainty at fiscal policy uncertainty at economic policy uncertainty and some geopolitical issues So we expected the volatility early in the year but I think it's going to end the year on it really well for good note on earnings I pre weekend gift to catch up with Tony tuan Equity strategist at Canaccord Genuity.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"And the S&P 500 little changed at the open down two points at 46 46 The Dow Jones Industrial Average also a little changed up 17 at 35,507 and the NASDAQ it's down almost two tenths of a percent or 22 points at 15,316 Ten year treasury at 400 a second sealed 1.44% that yielded in the two year .66% Nymex screwed oil up a quarter percent or 18 cents at $71 31 cents a barrel Comics gold is up a third of a percent or $6 at 1794 60 announce The Euro 1.1319 against the dollar the ends at one 14.14 Paul and greedy All right Karen thank you so much We appreciate that All right it is the waning days of 2021 Certainly time to look forward to 2022 What do we do There are so many cross currents there I think one of the common themes I've heard is get ready for some volatility in this market because there are so many cross currents out there Let's check in with one of our faves Tony dwyer Canaccord Genuity chief market strategist Tony thanks so much for taking the time here So 2021 pretty darn good year for risk on assets What can we do next year What can we look forward to Paul thanks Thanks for having me And I don't know What's the risk on asset If you're looking at the Russell 2000 if you're looking at the small cap mid cap or even some large cap growth stocks it wasn't such a great risk on year And it certainly was for the indices because they're driven by some of the mega cap names but most portfolio managers are hard pressed to say that this was an awesome year although on the surface for anybody investing in the S&P 500 which is what so many people are in index funds It's been terrific Tony I want to ask you I mean there's something very very very simple In 2021 we haven't really had any corrections any 10% 20% correction It's very shallow pullbacks instead in 2022 Some of the market consensus here is 2022 going to be that kind of moment where we finally see a correction or even a bear market but simplify this for me If the economy is still growing just perhaps at a slower pace Shouldn't the stock market do the same Could you probably will so our call for next year is that it's going to be a plus or minus year And typically we're pretty bullish in again I think the second half looks like it's going to be better than the first half Similar to what happened at this point in the last two cycles Remember that the market response to money availability All the other stuff that we come on and talk about is great But it comes down to money availability Is there enough money to support economic activity and investment in areas So that's a good thing And on the other side offsetting that a bit and I think the average stock has been reflecting that recently offsetting that is the uncertainty monetary policy I think people are so worried about inflation because it's hot in the news that I think next year the biggest risk is if inflation expectations come down too fast We had a historic level of money that was thrown at this economy because of the pandemic which were clearly still in given the crime variant And you had a historic supply chain constrained in inventory build to try and get the goods that you needed So we're going to have that reverse into the middle part of next year And that should create a little bit of choppiness Tony so we have the Federal Reserve accelerating tapering talking about the three rate increases next year perhaps three of the following year It's been a while since this market and since investors some of the new investors in the market have had to deal with a rising interest rate environment How do you kind of view that for your backdrop for next year Well let's see if they do Paul I'm on the other side of everybody I don't believe that our call for next year is that the fed is going to taper faster because the unemployment rate is coming down and inflation is very high So they'll taper faster but by the time you get to the end of their tapering plan which is march they may be raising rates slower than people think Because that was inflation expectations might come down Remember this is hard to believe for the people listening to the show But it's not about what inflation is this moment It's what the intermediate and long-term inflation expectations are in the marketplace That's what the fed really focuses on and how to determine monetary policy and think about this If the strongest inflation rate we've gotten 40 years has led to a ten year bond yield It's just 1.481 .44% What's it going to look like with less than that And that's what I think people aren't really factoring into their equation So a decelerating inflation outlook essentially that you won't start to see these kind of commodity costs for example drive some of those costs especially for the average consumer How does that work when you're talking about global growth a geopolitical tensions that are still kind of feeding into the market putting inflation aside for a second but things like the European energy crisis things like tariffs that still remain on China How does that factor in That is all created the current level of inflation But then at some point you're not going to have a permanent shortage in commodities Remember that anybody talking to their neighbors or companies they work for They know that the ordering has been excessive because there was this supply chain constraint So if you want ten widgets you better order 15 Otherwise you'll never get the ten So that created this huge wholesale inventory build which means next year you're going to have less goods being produced At the same time you're going to be you're still going to have those excess inventories So sure the commodities have been strong and they should be There's been an incredible amount of growth in economic activity due to the money that's been given to the economy both monetary and fiscal but low and globally by the way as you point out creating But again at some point that begins to wane And I think we've got to be careful to not price in permanent strong growth because that's not the way it works So next year I think it will be marked by favoring services driving economic activity going places doing stuff Versus buying things like boats and snowmobiles cars and homes All right Tony I know you do a lot of work on valuation Give us your thoughts on the valuation in this market right here Paul I think historic So let's forget my opinion Let's just do the data The data shows that when a core inflation is between one and 3% that the market multiple is anywhere between 19 to 20 times And for the listeners that means the price to earnings ratio So if it's 19 to 20 times more roughly at about 20 times that's why I think next year is going to be plus or minus If you have 220 to $225 in earnings and a 20 multiple which is fair it's right around there Again well people have to remember is that when you have low interest rates for a very long time and maybe forever because the level of debt it creates a higher market multiple because it's not that people listening can't get the returns they need Pension plans So if anybody's in a public pension plan they declare that they need 7 to 7 and a half percent You can't get there with their exposure to credit when the highest risk category of credit that's liquid the high yield debt market is trading at 4% You can't buy enough of it So that creates this excess risk-taking and until you until.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Kyle rittenhouse was speaking publicly after being acquitted of all charges in his murder trial the 18 year old was found not guilty on all counts Friday for fatally shooting two men and injuring a third during protests last year in Wisconsin He spoke to Fox News host Tucker Carlson about the decision He said I believe they came to the correct verdict adding self defense is not illegal Former president Trump is standing behind rittenhouse after he was acquitted he tells Fox News he was surprised at rittenhouse was prosecuted in the first place This was not justice This is a young man that should not have been prosecuted based on every ounce of evidence that you looked at Trump congratulated the team earlier on Friday adding if that's not self defense nothing is The weatherman says rain and wind may cause travel delays at the start of this Thanksgiving holiday week A system of stormy weather is expected to drench the Midwest and later the upper northeast bringing abundant precipitation and high winds to the region that could create travel delays I'm Brad Siegel And I'm Susanna Palmer in the Bloomberg news room New York City expanded its onsite COVID-19 vaccine hubs to charter schools on Friday We could more about that from Bloomberg's Denise Pellegrini The charter schools were initially excluded from the vaccine rollout which saw only vaccine pods at public schools A mayor de Blasio is now calling this new effort to get more vaccines into the arms of children a charter school blitz in the nearly two weeks the vaccine has been available to kids age 5 to 11 in New York City About 78,000 have received their first doses already Denise Pellegrini Bloomberg radio Gains for several technology companies pushed the NASDAQ composite to another record high Friday and its first close over 16,000 points A choppy several days of trading left the S&P 500 and NASDAQ higher for the week and the Dow lower What about the inflation backdrop at this point Well Tony dwyer is equity strategist at Canaccord Genuity All those signs that show up when inflation becomes a major problem for the financial markets are not showing up And I think that's what surprising so many people is that even with all this inflation talk it really hasn't hit the market share For the week the S&P 500 rose three tenths of 1% The Dow fell 1.4% this week in the NASDAQ gained one and a half percent for the week Private equity firms being capital and hellmann and Friedman LLC are close to a deal to acquire healthcare technology firm Athena health Price tag $17 billion including debt That is according to The Wall Street Journal which boats a source as saying there is no guarantee a deal will go.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Brad Segal And I'm Susanna Palmer in the Bloomberg news room New York City expanded its onsite COVID-19 vaccine hubs to charter schools on Friday We could more about that from Bloomberg's Denise Pellegrini The charter schools were initially excluded from the vaccine rollout which saw only vaccine pods at public schools A mayor de Blasio is now calling this new effort to get more vaccines into the arms of children a charter school blitz in the nearly two weeks the vaccine has been available to kids age 5 to 11 in New York City About 78,000 have received their first doses already Denise Pellegrini Bloomberg radio Gains for several technology companies pushed to the NASDAQ composite to another record high Friday and its first close over 16,000 points A choppy several days of trading left the S&P 500 and NASDAQ higher for the week and the Dow lower What about the inflation backdrop at this point Well Tony dwyer is equity strategist at Canaccord Genuity All those signs that show up when inflation becomes a major problem for the financial markets are not showing up And I think that's what surprising so many people is that even with all this inflation talk it really hasn't hit the market share For the week the S&P 500 rose three tenths of 1% the Dow fell 1.4% this week and the NASDAQ gained one and a half percent for the week Private equity firms being capital and hellmann and Friedman LLC are close to a deal to acquire healthcare technology firm Athena health Price tag $17 billion including debt That is according to The Wall Street Journal which quotes a source as saying there is no guarantee a deal will go through Ford Motor has abandoned plans to jointly develop an electric vehicle with rivian automotive for it holds a 12% stake in rivian the two are abandoning joint plans as they try to focus on their own electric vehicles Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"I'm Brad sequel And I'm susannah Palmer in the Bloomberg news room New York City expanded its onsite COVID-19 vaccine hubs to charter schools on Friday We could more about that from Bloomberg's Denise Pellegrini The charter schools were initially excluded from the vaccine rollout which saw only vaccine pods at public schools A mayor de Blasio is now calling this new effort to get more vaccines into the arms of children a charter school blitz in the nearly two weeks the vaccine has been available to kids age 5 to 11 in New York City About 78,000 have received their first doses already Denise Pellegrini Bloomberg radio Gains for several technology companies pushed to the NASDAQ composite to another record high Friday and its first close over 16,000 points A choppy several days of trading left the S&P 500 and NASDAQ higher for the week and the Dow lower What about the inflation backdrop at this point Well Tony dwyer is equity strategist at Canaccord Genuity All those signs that show up when inflation becomes a major problem for the financial markets are not showing up And I think that's what's surprising so many people is that even with all this inflation talk it really hasn't hit the market share For the week the S&P 500 rose three tenths of 1% The Dow fell 1.4% this week in the NASDAQ gained one and a half percent for the week Private equity firms Bain capital and hellmann and Friedman LLC are close to a deal to acquire healthcare technology firm athenahealth Price tag $17 billion including debt That is according to The Wall Street Journal which quotes a source as saying there is no guarantee a deal will go through Ford Motor has abandoned plans to jointly develop an electric vehicle with rivian automotive for it holds a 12% stake in rivian the two are abandoning joint plans as they try to focus on their own electric vehicles Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I am Susanna Palmer This is.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Court is rejecting a challenge to a vaccine mandate in Maine justice is denied a request to block the requirement for healthcare workers to be fully vaccinated against coronavirus Some unvaccinated workers challenge the mandate on religious grounds A federal judge is imposing an indefinite ban against state and local law enforcement in Minnesota from using force against journalists in the field Lisa Taylor reports yesterday's court action went into effect as a temporary restraining order is about to expire The order is linked to a class action lawsuit filed by the ACLU of Minnesota after the police killing of George Floyd in May of last year the suit claims officers threatened assaulted and arrested members of the media even after they identified themselves as journalists I'm Lisa Taylor While surfers and swimmers have returned to water and Orange County California fishing is still not allowed It's been four weeks since a spill flooded the ocean with nearly 25,000 gallons of oil I'm Brian shook And I'm Charlie peloton Bloomberg world Hank waters stocks head into the weekend at records traders were weighing disappointing earnings and bond market gyrations amid concerns over inflation and monetary tightening Apple after earnings was down 1.8% Amazon after earnings down 2.1% Tony dwyer is equity strategist at Canaccord Genuity and he told us you've got to keep the losses at Apple and Amazon in perspective So Amazon and again I'm not giving a recommendation either way I can't talk about individual stocks but Amazon factually is where it was last July July of 2020 is below where it was in July of 2020 So the idea that Amazon has been the market leader over the last year is just inaccurate And if you look at Apple it's back to just a little bit above where it was in January of this year It's Tony dwyer so the Apple and Amazon reports clearly highlight its supply chain issues James camp is manager for strategic income and fixed income at eagle asset management We have had so much stimulus put into the consumer pocket We have had such great recovery of consumer balance sheet and many of these folks are supplanting the experiential consumption of travel the movie theaters for buying goods We have massive demand in the way you correct master demand as you move price James camp of eagle asset management As for the economic backdrop Christina hooper is chief global market strategist at invesco I think we're going to see a bit of a pickup in the fourth quarter as COVID headwinds have dissipated But then we should see some moderation in growth next year as we transition to a more normal state In vesco's Christina hooper S&P up 9 up two tenths of 1% today the Dow of 89 at a record up three tenths has stack also up by three tenths of 1% Global news 24 hours a day on air and on Bloomberg quick take power by more than 2700 journalists and analysts in more than 120 countries I'm Charlie pallop This is Bloomberg This is Bloomberg law with June Brussels from Bloomberg radio Hi Beautiful beautiful Celebrities versus paparazzi Lady Gaga sang about it and we've all seen nasty filmed encounters So it may seem a little backwards that since June photographers have filed more than a dozen lawsuits against celebrities for posting photos of themselves on social media paparazzi photos they don't own the rights to My guest is intellectual property litigator Terrence Ross a partner at catan yuchen rosenman so Terry celebrities are caught by a paparazzi and unwillingly become the subject of a photograph that's published They pose the photo on social media and then the paparazzi sues them for using the photo Something seems off with that It sure does seem off but the way the copyright laws in the United States are written is that the copyright protection is given to the creator of a work And in this case the creator of the work is the photographer who happens to be a pup Roxy The celebrity who is captured in the photograph is not actually the creator of the work although much of the value in the photograph may be attributable to the subject of the photograph the copyright laws are strictly concerned with protecting creators of works And here the paparazzi as the photographer qualifies as the creator of the work and gets the copyright protection In these cases if they go to court is there any defense the paparazzi just says I took this photo it's my copyright pay me So I have seen fair use defenses asserted by celebrities to such copyright lawsuits I think that's a stretch for a whole bunch of reasons not the least of which is that under the fair use test You only use as much as minimally required in order to achieve certain types of societally favored uses such as teaching news reporting And that's not typically how the celebrity is using this photograph taken from a paparazzi shoot They're typically using it to enhance their own image their own brand or to actually sell some product and the fair use defense falls apart in those sorts of circumstances So I won't say that there are no viable defenses but it is a very difficult lawsuit to defend against So Terry back grid USA which calls itself one of Hollywood's largest celebrity photograph agencies Is looking for as much as $1.2 million in damages for actress Lisa Rinna posting 8 unauthorized photos of her and her daughters I mean is that demand for damages way out of line Because if the photos were sold they wouldn't bring anything close to that amount That's correct junior There are two approaches to damages for copyright infringement One is known as statutory damages We recognize that it's hard sometimes to quantify the damage caused by infringement of a copyright And so we simply set a schedule of what the damages should be And that range is from $750 up to a $150,000 The range depends in large part upon the willfulness involved So if it's a completely accidental innocent the lower end if it's a willful use knowing that there's a copyright involved using it to gain some commercial advantage the numbers could be much higher So that's a statutory damage key but separately you can simply suit for the lost profits that the photographer has given up because their photo was taken Again that sell them going to be in the $1.2 million range that's going to be more in the 3000 to $5000 range Are there cases where a photographer can get a copyright for a photograph Historically there was a big question mark as to whether that photographs were entitled to copyright in the first place because they are merely capturing representations of the real world and the courts had to stretch to say that the photographer effects what's being seen through their choice of angle the way they tend to photograph expose the photographs so that there is creative work But I have seen some cases where the courts have said this is nothing more than a capture of a real world image with no creativity being used whatsoever and therefore we're not going to accord it any sort of copyright in title bit Most of these paparazzi photographs you could argue have that small amount of creativity that's required to qualify for copyright But we'll have to wait and see what the courts say about these cases Terry what strikes me is these celebrities have photo shoots all the time They have lots of ways to get shots of themselves Why use a paparazzi photo or are they just unaware that they can't do that I think there is a general unawareness on the part of celebrities and people at large as to who has ownership of photographs of this sort that are taken in the public And I think they will be learning over time and hopefully their management will teach them better But you're absolutely right you would think that they would have ample quantities of such images to publish on their own if they wanted to and set aside even professional Why can't they do like everyone else and just take a selfie if they take the moment It's so great Good point Terry That's Terrence Ross of cat and mutant rosenman Coming up the legal fight over microseconds This is Bloomberg Hey Jen we need to sell our home Do you know what great agent I do We just sold with a local Redfin agent It was awesome and we paid a.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Survey conducted by the analytics company YouGov found two out of 5 Americans surveyed believed in ghostly apparitions on top of that one in 5 said they had even seen a spirit from the other side The northern lights may be visible over Lake Erie in the northern U.S. this weekend The national oceanic and atmospheric space weather prediction center says there's a geomagnetic storm brewing for tomorrow People could see the northern lights as far west as Oregon and east as Pennsylvania I'm Bryan shook And I'm Charlie peloton Bloomberg world Hank waters stocks head into the weekend at records traitors for weighing disappointing earnings and bond market gyrations amid concerns over inflation and monetary tightening Apple after earnings was down 1.8% Amazon after earnings down 2.1% Tony dwyer is equity strategist at Canaccord Genuity and he told us you've got to keep the losses at Apple and Amazon in perspective So Amazon and again I'm not giving a recommendation either way I can't talk about individual stocks But Amazon factually is where it was last July July of 2020 is below where it was in July of 2020 So the idea that Amazon has been the market leader over the last year is just inaccurate And if you look at Apple it's back to just a little bit above where it was In January of this year Can accords Tony dwyer So the Apple and Amazon reports clearly highlighted supply chain issues James camp is manager for strategic income and fixed income at eagle asset management We have had so much stimulus put into the consumer pocket We have had such great recovery of consumer balance sheet and many of these folks are supplanting the experiential consumption that travel the movie theaters for buying goods We have massive demand in the way you correct massive demand as you move price James camp of eagle asset management As for the economic backdrop Christina hooper is chief global market strategist at invesco I think we're going to see a bit of a pickup in the fourth quarter as COVID headwinds have dissipated But then we should see some moderation in growth next year as we transition to a more normal state In vesco's Christina hooper S&P up 9 up two tenths of 1% today the Dow of 89 at a record up three tenths has stack also up by three tenths of 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie Pollock this is Bloomberg This is masters in business with very renewals on Bloomberg radio My extra special guest this week is Lisa Jones She is the CEO of a Monday U.S. the $100 billion U.S. arm of Europe's second largest asset manager on Mundy a Mundy proper manages over $2 trillion in assets than one of the ten largest asset managers in the world with over a 100 million clients in 36 countries about 4500 employees Lisa Jones welcome to Bloomberg Thanks Barry thanks for having me here today My pleasure I've been looking forward to chatting with you for a while I think of a Monday as really one of the largest asset managers that a lot of people especially in the U.S. haven't heard of But before we get to mundi let's talk a little bit about your early career experience You come out of trendy college with a bachelor's in economics and you start at MFS investment management Tell us a little bit about your early experiences in the industry So you know I've been working for 30 years So when you say to me about your early experience because make sure we don't go on for so long But actually prior to MFS I started working at EF button for those of your listeners who remember EF Hutton Trinity has been Hartford and at that point in time you went to New York or you went to Boston and I was from Boston so I wanted to take a shot at working in New York City And I started working for EF Hutton and work there for a few years really working through the crisis of 1980 the stock market crash in the late 1980s and started in customer service of the brokerage accounts where shareholders wanted to call and ask questions and get some answers It was a great introduction into being an a client facing role And so from there I went to work at MFS in Boston and I joined MFS in 1988 I joined MFS as a wholesaler covering the bank channel The territory was the northeast and back then in the bank channel the northeast was really laying down to Virginia And it was in the early days where beyond bank trust departments banks were beginning to have licensed investment professionals sitting there lobbies to offer alternatives to banking customers And that was my first experience working at MFS as a wholesaler I then as the time went on began to become in-house more in a management role and assume responsibility for running the bank channel after MFS and keep in mind as we think about the world of investing today and talking about low interest rates This is a period of time when CDs were double digit treasuries or double digit And so it was a quite a different environment for selling investment products in yields event at that point in time So is that enough as for a total of 16 or so years to spend some time on the institutional side running the global institutional business for emphasis at that time So let's talk a little bit about that global institutional business eventually you end up as global head of distribution at Morgan Stanley's What enabled you to climb to the top of that ladder and how different is institutional and distribution from what people typically think of as individual investing So today I would say that those lines between the two groups are blurring But let's go back to the point in time of when I transitioned from what we would call the kind of retail or the distribution side to the institutional side being responsible for running the bank channel at that time I was engaged with the bank trust departments and they would be hiring external managers to offer investment solutions to trust clients And I began working very closely with the portfolio managers.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Because there are so many issues swirling around right now and that is up for the individuals who have all the information Cuomo is expected to face a judge on November 17th I'm Brian shook And I'm Charlie peloton Bloomberg world Hank waters stocks head into the weekend at records traders were weighing disappointing earnings and bond market gyrations amid concerns over inflation and monetary tightening Apple after earnings was down 1.8% Amazon after earnings down 2.1% Tony dwyer is equity strategist at Canaccord Genuity and he told us you've got to keep the losses at Apple and Amazon in perspective So Amazon and again I'm not giving a recommendation either way I can't talk about individual stocks But Amazon factually is where it was last July July of 2020 it's below where it was in July of 2020 So the idea that Amazon has been the market leader over the last year is just inaccurate And if you look at Apple it's back to just a little bit above where it was In January of this year It's Tony dwyer so the Apple and Amazon reports clearly highlighted supply chain issues James camp is manager forced strategic income and fixed income at eagle asset management We have had so much stimulus put into the consumer pocket We have had such great recovery of consumer balance sheet and many of these folks are supplanting the experiential consumption to travel the movie theaters for buying goods We have massive demand in the way you correct massive demand as you move price James camp of eagle asset management as for the economic backdrop Christina hooper is chief global market strategist at invesco I think we're going to see a bit of a pickup in the fourth quarter as COVID headwinds have dissipated But then we should see some moderation in growth next year as we transition to a more normal state In Vasco's Christina hooper S&P up 9 up two tenths of 1% today the Dow of 89 at a record up three tenths as stack also up by three tenths of 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie paddock this is Bloomberg This.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"In kids ages 5 to 11 The CDC still needs to weigh in before younger kids could officially roll up their sleeves and advisory committee meets next week to discuss the vaccine The Albany county sheriff is revealing what happened when former New York governor Andrew Cuomo was charged with a misdemeanor sex crime Craig Apple senior says the charging document was leaked online before he could inform the Albany county district attorney But needless to say the document was signed the document was leaked So again things don't always work out as planned That's where we are today Mister Cuomo is scheduled to appear in November 17th and of any city court The Biden administration is moving to increase COVID testing in schools The education department is partnering with the Rockefeller foundation to accelerate school based screening testing for students and staff as soon as possible The foundation is distributing a startup guide for schools I'm Brian shook And I'm Charlie peloton Bloomberg world Hank waters Stocks head into the weekend at records traders were weighing disappointing earnings and bond market gyrations amid concerns over inflation and monetary tightening Apple after earnings was down 1.8% Amazon after earnings down 2.1% Tony dwyer is equity strategist at Canaccord Genuity and he told us you've got to keep the losses at Apple and Amazon in perspective So Amazon and again I'm not giving a recommendation either way I can't talk about it in the video stocks But Amazon factually is where it was last July July of 2020 it's below where it was in July of 2020 So the idea that Amazon has been the market leader over the last year is just inaccurate And if you look at Apple it's back to just a little bit above where it was In January of this year Count accords Tony dwyer so the Apple and Amazon reports clearly highlighted supply chain issues James camp is manager for strategic income and fixed income at eagle asset management We have had so much stimulus put into the consumer pocket We have had such great recovery and consumer balance sheet and many of these folks are supplanting the experiential consumption of travel the movie theaters for buying goods We have massive demand in the way you correct master demand as you move price James camp of eagle asset management As for the economic backdrop Christina hooper is chief global market strategist at invesco I think we're going to see a bit of a pickup in the fourth quarter as COVID headwinds have dissipated But then we should see some moderation in growth next year as we transition to a more normal state In Vasco's Christina hooper S&P up 9 up two tenths of 1% today the Dow of 89 at a record up three tenths has stack also up by three tenths of 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie palace this is Bloomberg.
Bloomberg Radio New York
"canaccord genuity" Discussed on Bloomberg Radio New York
"Stake Angio dynamics ticker a N G O is added 8.4% medical device maker was raised to buy from hold at Canaccord Genuity Now the Russell steepest drop belongs to catchmark timber trust Ticker CTT The Timberland owner has fallen almost 19% Catch Mark reduced its dividend by 44% because of its withdrawal from a joint venture And corsair gaming ticker CRS R has lost 9% Preliminary third quarter revenue at the maker of video game electronics trail analysts have assessment in the Bloomberg survey by 11% Davor small calf still kind of in vogue in that kind of that rotation play You know people kind of switching into the more cyclical names including some of the small caps Is that still something that we're hearing from the strategists on Wall Street that the small caps are still of interest Yeah you're seeing some of that at this point I mean that said you know for much of the year the Rus 2000 is trailed the S&P 500 that's still the case today The Russell up a little bit more than 16% and that's roughly three percentage points behind the S&P 500 All right the small cap is boy The rustle of 8 tenths of 1% today sort of right in line with kind of what we're seeing at that Pretty much stocks editor Dave Wilson thank you so much Boy a busy busy week for the big financial firms reporting number sent some really strong numbers across the board and particularly in the deal making side You know trading sales and trading the investment banking and cap off I guess to no one's surprise I guess for those of us that have been competing against Goldman for years Goldman Sachs came in with some huge numbers Shanali Baskin joins us She's our Bloomberg Wall Street reporter she joins us here on our Bloomberg interactive broker studio I guess we shouldn't be surprised shanali by these really strong numbers but what stands out for you when you look across They were eye popping Paul They were surprising figures because not only did they beat expectations in every major business line that you would hope for them too if you're an investor you also saw them come in at $3 billion in equity trading revenue Which is more than Morgan Stanley the Morgan Stanley's usually the longtime leader You know it's so funny I remember back to a conference called up Ted pick the head of the institutional securities group at once done and he was talking about his paranoia And JPMorgan Goldman really just nipping at their heels for a long time so that the number is significant The other thing is their efficiency They are doing this while keeping costs extraordinarily low And right now we have David Solomon and Stephen Cher the CFO who's actually stepping down Speaking to investors and saying that there's no question that there's comp pressure and there's wage inflation everywhere In all aspects of every business right now Those are David Solomon's worlds So with the expectation of paying people for this performance they're still keeping costs way lower than anyone expected But you've spoken to a number of bank CEOs this week I'm sure this weekend can't come soon enough for you should not be But the common thread has been inflation There's a concern out there And you know it's interesting The very first thing that David Solomon had done when he started off a conference call was list off headwinds And we know his deputy John waldron had been one of the loudest about inflation earlier this week alone David Solomon added to that list U.S. China tensions and the U.S. debt ceiling as well which we've been talking about a lot All right here's my silly question Is everybody back at work for Goldman Sachs How's that going You know a lot of people are and it's just this funny little color from Goldman Sachs They've moved the executive suite Look closer to where the cafe is and kind of like it looks at Bloomberg actually You know very close by So people are back at work and traveling as well David Solomon today is actually on the West Coast at their builders and innovators conference that was going on Well our very own Carol masser and stenosis are on the West Coast today So that's a good look Jamie Dimon he was in Seattle when the about a week or so ago I guess now and everyone was called to D.C. for that big debt ceiling meeting So these bankers are on the road up to the highest levels And a lot of people are back at work though not everywhere Bank of America I believe said only about 50% What I hear from Morgan Stanley from a lot of folks is they're not coming in every day So mix back but of course Goldman has been the leader in that What about people so for Goldman it's not as much of an issue as it is for the other bank but lo and demand has been a problem that Jamie Dimon has flagged and then talked about again It's just not the business that they want it to be It's so interesting because the other thing Jamie Dimon had talked about was competition from fintechs So it still is jarring to me that in his own bank's conference call he cited a firm as one of the big competitors that not only did buy now pay later but also is expanding in a more traditional credit products We've seen JPMorgan do acquisitions malar acquisitions to kind of boost their consumer business and their card business like buying the infatuation which they believed would kind of help with the closeness to restaurants and entertainment But to your point that loan demand has been very elusive It's not the same at Goldman by the way so you're seeing two different things from two types of consumers Their card business is up They are you know their loans are doing very well and so is Morgan Stanley They're not interested in compete expectations So it's not the same for the rest of America as it is for the wealthier clientele Just real quick 20 seconds or so international banks next week I feel like I'm not going to see as good numbers I'm actually waiting for Deutsche Bank because they've been turning around their business And so have they been That's my question Okay All right Thanks very much She has been working around the clock this week so take a break this weekend Well it's good to get some time with her I'm sure she's probably rushing off to the TV set She is literally running back and forth you see around here TV to radio to print Yes All right so now thanks so much for that All star coverage of Wall Street not just this week but all the time getting us the best guess and bringing us the most important interviews And what a knockout week at his Ben Goldman Sachs tying the bow perfectly on this earnings scene Let's get over now to Amy Moore She's in Washington D.C. with your world natural news Amy All right thank you British.
Tesla Daily: Tesla News & Analysis
Tesla Rumors: Model Y, China, Suppliers Plus Plaid Updates
"Everybody rob our here. Welcome back to tesla daily. Hope everybody had a great weekend. We are now back to the normal format and today. We're going to be discussing some news. On tesla out of china we've also got an update on a model y both pricing and demand news on bitcoin from ulan. Musk couple updates on the plan model. S a price target lowering from canaccord genuity and a couple of other pieces of news as well decent. Start of the week. Four tesla stock finishing up one point three percent today to six hundred seventeen dollars. Sixty nine cents. That compared to the nasdaq up. Three quarters of a percent so pretty good mackerel tail wind today for stocks like tesla art will start off in china today. We've got a few pieces of news. Some rumors some clarifications to make i is an update from a chinese tech supplier name to opo they supply in addition to tesla. Major automakers like volkswagen gm via chrysler. Bmw et cetera. And i believe this. Update that i i saw shared out on twitter by rafer tesla was an update from an investor. Call and it looks to me like in a question and answer portion of the call. Tessa was brought up. Or at least. I think that is the inference from context clues and unfortunately this is translated. I don't have a really good insight into the context provided but they are referred to here as company anyway. The translated question reads quote. There are many negative news about company. A in the market recently. How about the company's order situation and quote with translated answer reading quote the company strictly abides by the customer's confidentiality requirements. It is inconvenient to disclose. Please understand what i want to say is in the process of cooperating with customers. We deeply realized that all things done by company or correct including product positioning. Rnd manufacturing supplier management quality marketing etc are all very correct other cars. There is a gap of at least five years between companies at noon. We saw two hundred and forty percent increase in sales of company in europe and may rapid growth. The emergence and growth of new species will have problems of this kind which are also short lived. We can't just look at the appearance. We are very optimistic. And the current orders are normal and
Tesla Daily: Tesla News & Analysis
Tesla Stock Upgraded After 'Paradigm Changer' Delivery Numbers
"Our here and they were talking about an upgrade stock from canaccord genuity. We have new tweets from yuan over the weekend. A tokenism of tesla's stock some news on tesla energy and a couple other stories as well. That's the stock on the day to day. Finishing up three point six nine percent to seven hundred and one dollars ninety eight cents compared to the nasdaq slightly down on the day down. Four tenths of a percent possible tailwind on the stock today from an upgrade from jet door shy of canaccord genuity on tesla stock now reading the stock as a by up from hold an increasing his press target by more than one hundred and fifty percent from four hundred nineteen dollars per share all the way up two thousand and seventy one dollars cameras on cnbc today to discuss the notes that oil down to three things number one. The beat and delivery numbers thinks that will lead to greater profitability. Second are bullish on forty six eighty battery production opening up supply for tesla to continue to expand their business both in automotive but particularly in energy storage third tussles brand door shurmur saying quote we can only compared to apple in terms of the brand value tussles driving any energy market and quote in the actual note canaccord genuity says they see tesla becoming the brand and energy storage and creating an apple inc ecosystem with their multiple product offerings so that you actually have tesla energy and their model. They have a growing to what they say. Conservatively would be a billion dollars per year. Twenty twenty five. At five percent gross margin that would compare to twenty twenty levels of two billion dollars in revenue at about a one percent gross margin but gross margin was suppressed from twenty nineteen levels due to solar primarily solar roof which actually talk about a little bit later on so out actually expect more revenue. That's only doubling from the two-billion-dollar level here to four four to eight. I definitely don't expect that to say tusla for years. Once forty six eighty battery supply comes online. Tesla and four and using those numbers was already at a three billion dollars per year run rate for energy but it is really nice to see start to include and talk about tesla energy and their models
Mac OS Ken
Double Digit Growth Expected For Apple Products And Services
"Phillip fulmer wet apple three dot o. Ran part of a note from canaccord genuity analyst team. Michael walk -ly according to that. He's expecting strong double digit growth for macs ipads and services. Oh yeah and for iphone to. That's despite the late. Start for half the iphone twelve line and the even later. Start for the other half. According his note with seventy nine billion dollars net cash apple has a strong balance sheet to continue to invest and support long-term growth with the five g upgrade cycle likely to benefit during twenty twenty one other hardware categories growing double digits and continued mix shift toward time margin services. We believe the share prices compelling for longer term investors so why not send that. North canaccord has a buy rating on apple shares. Walkway used tuesday's note to raise his price target on the shares from one hundred forty five dollars to one hundred fifty
CNBC's Fast Money
Apple leads stock surge
"Welcome back to headlines for apple on Wall Street today starting with sweets call by Canaccord genuity raising its price target on the tech giant's at two sixty from two forty citing increased demand for the iphone models including the most recent iphone eleven plus an analyst over at t.f security saying to not that apple may be planning new hardware releases including smart glasses for early twenty twenty now all this as a stock inches closer to a fresh all-time high it is already up forty four percent this year alone so could appleby your best bet intact or has a rally gone too far too fast guy well I would I would say if you're trading the stock this is a great opportunity to take some money off the table the people going to blow back and say you're out of your mind you don't trade this I told you people would say that happened this but you know what you go back to October the stock traded up to two twenty nine and had an epic failure Dana's spoken about this a number of times from peak to trough from two thirty to one forty was a pretty swift move to the downside I'm not suggesting that will happen again but go back and look at facebook with that done over the last couple of months go back and look at Amer on massive WTOP look how underperforming stock has been over the last month month and a half so if you're trading stock why not take some money off the table at currently and if you want to buy it that's a great way to phrase it you wait until it makes a new high and you use that as your support but the narrative was the hardware game was over was all about services we're we're going to go nowhere from here the the multiple was not gonNA increase give a lot of levers that apple can pull now and now hardware is a tailwind it's a by right now still I feel like this is a classic case of position that we always talk about the positioning on apple had gotten so negative when it came to sentiment around the I eleven and so even increment Antalya looked a little better in all of a sudden Bam people are going to have a side of the boat yeah and so now everybody's on that bandwagon right so I suspect a lot of the move that we've seen off the lows is anticipation or at least speculation that things weren't as bad as as sentiment thought now sentiments saying hey everything seems to be great there's going to be all least things coming out so for be K. everybody's on that side of the boat he's going to be on the other and I think guy odometers on that side of the boat I would be a seller of about his list yeah let's say that's dangerous when a boat list by the way you know Dan who everybody says negative what is such a Downer I actually had someone foolish options action in the apple I've seen it on your show on Fridays Advisor Thirties tremendous job and we have said for a long time now the stock will trade the twentieth so good for Dan Nathan but now here's the guy is a guy mentioned that peak trump decline last Q. Four really would what is this company gave kind of optimistic guidance and I think that they thought the world that they lived in that there were selling into China wasn't going to be altered that much by trade it did and on January second when they pronounce the first time in like ten years a negative basis the stock had had that forty percent peak Detroit declined it got to negative here we are every year the dollar is higher they have a very interactive phone that last Q. Four in China their units and I flew down thirty percent year over year and that had to do with just their slowing economy trade that sort of thing so when you think about apple in the hardware in China six and a half percent market share number five behind here locals I just don't see in this Q. Four how they're going to be able to put up big hardware numbers and the last point I'll just say is if the Chinese want to regulate apple they can do it services they can do it in that APP store in there already has a wide that's all they have to be because everyone to get back to the positioning point is everyone throughout that hardware number so to trough levels that no everyone discounted off their balance sheets so right now all they have it was surprise even incrementally now the government's getting mad about an APP they have on their APP store Barrett of changes it didn't you just say that by it if it makes time high all the time I got got okay all right but you should buy it here you got you gotta wait until trades above two thirty three and then Atas you're predicting another repeat of I think a company would be crazy not to give cautious guidance given the environment if there is no trade deal they got caught with her dance down last four in China and the breeze wasn't so Great Wall wow that is as well look at that a trillion dollar market cap it lost forty percent to December or January second rose that's brees win
CNBC's Fast Money
Should I Be Freaking Out About All This Recession Talk?
"Tony Dwyer is here. He's chief market strategist at Canaccord genuity. Tony Welcome and you're saying you think we have had some the mini recessions but they're over now and it's clear sailing on on the show a few weeks ago we actually we called for a correction classic strategy and I I called it right but we you know it's it's John the Airways so it was a few weeks ago that we thought that the sentiment got bad enough and that some of the data was already discounted that it was especially on the ten tenure no yield dropping the ten year yield. It was time to get more offensive so the supporting evidence to that in the mini recession call is if you look back at two thousand eleven two thousand twelve when the pigs were there and Greece was going to get knocked out of the euro and the euro was going to break up. That's as bad as a trade war right so the ten year. No you'll got back below one and a half percent percents what was interesting is not tober. Two thousand eleven the stock market bottom down nineteen point six percent the tenure didn't bottom until July of that year so in that meantime the S. and P. early twenty two percent led by the defensive into the ten year yield low in July off their you went up up and additional thirty eight percent two until the ten year got over three and three percent so the whole point here is offense should be on the field not because I have some great economic prognostication Asian but all signs are that the ten year made allow and if that's true it's replicating the two thousand eleven twelve two thousand fifteen sixteen period. Were there was clearly an industrial recession or are you making a call about the ten year going back to three percent or above or I think it will go back to two and a half percent. Nobody on the Planet Planet Kelly thought that we were going to go back to one and a half percent at this point ten years into a cycle right so what I think is happening is going back and looking at the nineteen fifty sorry to do it to you going back and looking at the nineteen fifties. There were four recessions from one thousand nine hundred forty nine thousand nine hundred sixty one. They were very brief. The market only went down about twenty percent each time time and then the market went rip into new highs very similar to now and I think technology just in time inventory. More consumption is a percentage. GDP is preventing that official recession but clearly were having these mini recessions driven by global industrial output and maybe hold argument over whether we are aren't going to have one on keeps confusing the picture because what's really happening. Is You have a bunch of growth scares you have quarters or GDP goes negative or almost goes to zero. You have market correction of ten to twenty percent but that's it's a different story than everyone who keeps bracing for. We're going to have another financial crisis in here. It comes again Tony. Let me ask you this. Though I mean think about what just happened in the last couple of weeks we've seen a major moderation in the talk about trade. We've seen massive stimulus in China. We've seen of stimulatory action by the. We've had this balance in rates. No one thought they were going to go down to one five or four or five or something like that. It just seems like we're in a spot here to get out of your mini recessions what we need to do ten years on from this economic crisis that we had. It seems like it's getting a little untenable isn't it. I mean that's the thing is it sustainable and the other point about getting back up to three thousand. It doesn't break out so what's the thing that breaks it out this time in a sustainable fashion. ECB totally disappointed in action last week there. They're coming. Terry in terms of what they were going to do to make sure that inflation got back to where they want it to be. As what drove rates in the market in the spike in the tenure they got ahead of it not by the raised by Blah Blah so I don't really care if it's twenty five or fifty basis points if they do fifty basis points on Wednesday and say we're done for the rest of the time. Market's GONNA get creamed right. They need to get ahead of the market. The highest interest rate cannot be the Fed funds rate right so what gets us over three thousand and that Dan again the the global economy's week. I'm not going to be the straps getting on here telling you oh it's good. It's getting less bad in the data. If you look at the purchasing managers there's breadth the purchasing managers index positive that's inflected off below the same thing with the OCD leading indicators competent leading indicators for the thirty six countries countries. They follow. It's inflicting off the low you can't have the market is a negative when you hit the highest level of all time but the sequential data's rolled over so that's a sale and then you hit the worst level fall time and the squinched out is getting better and that's a sale to right so. I think that the data is going to get better. Give us the playbook then what does it. What does it look like offense. I I mean Kelly. This is offense this everybody's meaning consumer discretionary financials industrials the motorcycle parts attack and again. This was our call from a couple of weeks ago where you get this reflation trade as long as the. Fed stays ahead of the curve and what shut this whole game people to put this on before their decision Wednesday. That's a big call. You make a caller. You don't know you know the views of fast money. No I'm not the greatest of all times but but again and the whole key to this thing is the Fed has to get ahead of the curve. They have to convince the market that we're not going to become Europe and go into negative I so I asked a salesperson today. Who I begged literally bagged two weeks ago. I did it on their please. Refinance your debt. Please one point four percent refinance your loan right right so I went over to the desk today I said. Did you refinancial no my my husband wants me to wait for lower rates okay. That's what the Fed wants to avoid read. Stop waiting for lower rates as low as it's going to get. Let's get in there so you know this kind of churning. We're seeing in the market today. I think has more to do with got extremely overbought in two two weeks right so maybe oil is an excuse and the Fed meeting who's going to really take an offensive playbook into bed meeting and I don't want. I don't want to suggest to to the to the viewers that I'm GonNa be calling the next tick. I'm awful at it. That's why should refinance. I think I think they they should refinance. You could have a pullback in rates. You know what's going to be interesting is to see how Saudi Arabia response to the oil crisis. You know it's not a news item or they blow up their biggest thing and they're like okay. We're good so I'm kind of waiting and to see what the global response is to the whole attack and that may create a temporary law. You can take advantage of and get offense. Thanks thank you
Mac OS Ken
Revenues Expected to Climb for Apple with Release of New iPhone Later This Year
"While apple exacts trying to train analysts away from fixating on iphone sales analysts just can't stop fixating on iphone sales. It's like they're fixated at least Canaccord Genuity analyst team. Michael walk. -ly isn't worried about them though. Quite the contrary mug growth may not be skyrocketing as in years past apple, MAs. Has the analysts calling for growth for at least the next couple of years sizing up, walk lease numbers. The site says, the analyst expects apple to sell two hundred twenty two to two hundred twenty seven million or more phones and twenty eighteen through twenty nineteen rising to two hundred thirty eight million sales in twenty twenty. The company is expected to maintain share at the high end the market, but to take more share from the middle of the market on strength of slightly cheaper iphone models as for folks already in the fold walk Lee and his crew expect nearly twenty seven percent of. Iphone owners to upgrade to a new iphone this year. They're also expecting significant services growth to continue quoting the peace. Again, the analysts say they expect services revenues to climb twenty five to thirty percent. In the next year, pointing out the growth could be higher on a kind of the additional services. Apple is thought to be developing was seemingly so much going for them. It's no surprise that walk. Lee has a buy rating on apple shares his twelve month price. Target on the shares is two hundred fifty bucks with likely less than a month before the release of IOS twelve IOS eleven may have hit its final high. Macrumors has Apple's current mobile operating system is running on eighty five percent of compatible devices that says a Monday according to numbers posted by apple to the app store support page for developers. Ten percent is still using ten according to the report while the other five percent or said to be using an older version. Of I o s