Latest news with #JP Morgan
Yahoo
a day ago
- Business
- Yahoo
Does Netflix Stock Need 'A Breather' After Earnings?
Have investors binged too much Netflix? That's one analyst's theory, though not the Street's consensus. The streaming giant's shares were dipping early Friday following yesterday evening's earnings report. Netflix (NFLX), which rose nearly 2% yesterday ahead of the results, were down more than 2% in premarket trading today. The stock is up more than 40% this year through Thursday's close. The company's results and improved outlook were "solid against high expectations," wrote JP Morgan analysts. But they reiterated a neutral rating, setting a $1,300 price target that calls for comparatively little appreciation between now and the end of next year. The shares, they wrote, "need a breather." Most of Wall Street, according to Visible Alpha data, is more optimistic, with nearly all the analysts who track the stock holding bullish ratings and the mean price target sitting right around $1,400. (That number would represent a new milestone for the shares.) UBS analysts, for example, lifted its price target by $45 to $1495—which is high, but not the high, with Visible Alpha tracking several targets at or above $1,500. "We see Netflix as a secular winner and think 2Q results support our conviction," they wrote. Netflix yesterday turned in net income that topped analysts' estimates and revenue, lifted by price increases, that came in right around them; it also lifted its sales forecasts for the third quarter and full year. The company said its second-half operating margin will come in lower than its first-half figure, which it called typical and tied largely to the timing of expenses throughout the year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
2 days ago
- Business
- Zawya
India to issue climate risk disclosure rules for banks in the next few months, sources say
India's central bank is close to finalising rules for banks and financial institutions to disclose and manage risks from climate change, three sources aware of the matter said. The move runs counter to several top global banks including JP Morgan, Citibank, Morgan Stanley and HSBC, which have decided to scale back their climate commitments with the re-election of climate-sceptic U.S. President Donald Trump being seen as a trigger. Getting a better idea of how, and to what extent, money is flowing to green investments is a central part of global efforts to move to a low-carbon economy, with countries from the UK to Japan making such disclosures mandatory. The Indian central bank's norms, which have been in the works since 2022, are expected to ask banks and financial institutions to make regular disclosures about climate-related risks in their loan portfolios along with mitigation strategies and targets, the sources said. The disclosures are likely to be on a voluntary basis from fiscal year 2027 and then mandatory from fiscal year 2028. India's financial year runs from April till March. Banks will also be asked to conduct periodic stress tests to gauge the impact of adverse climate events such as floods, heatwaves and cyclones on borrowers and the economy, based on a guidance note which the central bank is also likely to issue soon, the sources added. All three sources requested anonymity as they are not authorised to speak with media. The RBI did not respond to an email from Reuters. The central bank's decision to move forward with the rules has not been previously reported. The Reserve Bank of India has previously recognised climate change as a source of major financial concern, and released a draft standard disclosure framework in February 2024 for public feedback. 'The signal from the central bank based on recent meetings is that the detailed norms are almost finalised and are expected very soon,' the first source said. Many banks have already started collating data and setting targets to meet the disclosure standards, the source said. Some large banks have put out tenders to bring in climate consultants to help them with the disclosures, according to public documents. ASSESSING BORROWERS FOR CLIMATE RISK The RBI's decision to move ahead with climate disclosures for its banks comes soon after India released a draft framework aimed at facilitating a greater flow of resources to climate-friendly sectors. India is also gearing up to publish a new national emissions-reduction target ahead of the next round of global climate talks in Brazil in November. India, the world's third largest polluter behind China and the United States, currently aims to achieve a net zero emissions target by 2070. As part of the central bank's climate disclosure rules, banks will be required to calculate gross emissions of borrowers and disclose this information by asset classes and industries, according to the draft norms. Such disclosures are expected to be included in their financial statements. Separately, the central bank has also shared a 52-page draft note with large banks, a copy of which Reuters has reviewed, prescribing a methodology to forecast and analyse the impact of adverse climate events as well as transition risks on borrowers' ability to repay loans. The transition risks are those which emerge from the changing consumer behaviour, policy and technology changes, as the world moves towards a low-carbon economy, as per the note. While banks are preparing to disclose climate risk embedded in their loan portfolios, they do not expect these disclosures to impact loan pricing in the short term. "As of now we don't have enough granular data to reliably price in these risks in our portfolios, but the long-term approach could be in that direction," said the second source, who is a banker at a state-owned lender.
Yahoo
2 days ago
- Business
- Yahoo
India to issue climate risk disclosure rules for banks in the next few months, sources say
By Ashwin Manikandan (Reuters) -India's central bank is close to finalising rules for banks and financial institutions to disclose and manage risks from climate change, three sources aware of the matter said. The move runs counter to several top global banks including JP Morgan, Citibank, Morgan Stanley and HSBC, which have decided to scale back their climate commitments with the re-election of climate-sceptic U.S. President Donald Trump being seen as a trigger. Getting a better idea of how, and to what extent, money is flowing to green investments is a central part of global efforts to move to a low-carbon economy, with countries from the UK to Japan making such disclosures mandatory. The Indian central bank's norms, which have been in the works since 2022, are expected to ask banks and financial institutions to make regular disclosures about climate-related risks in their loan portfolios along with mitigation strategies and targets, the sources said. The disclosures are likely to be on a voluntary basis from fiscal year 2027 and then mandatory from fiscal year 2028. India's financial year runs from April till March. Banks will also be asked to conduct periodic stress tests to gauge the impact of adverse climate events such as floods, heatwaves and cyclones on borrowers and the economy, based on a guidance note which the central bank is also likely to issue soon, the sources added. All three sources requested anonymity as they are not authorised to speak with media. The RBI did not respond to an email from Reuters. The central bank's decision to move forward with the rules has not been previously reported. The Reserve Bank of India has previously recognised climate change as a source of major financial concern, and released a draft standard disclosure framework in February 2024 for public feedback. 'The signal from the central bank based on recent meetings is that the detailed norms are almost finalised and are expected very soon,' the first source said. Many banks have already started collating data and setting targets to meet the disclosure standards, the source said. Some large banks have put out tenders to bring in climate consultants to help them with the disclosures, according to public documents. ASSESSING BORROWERS FOR CLIMATE RISK The RBI's decision to move ahead with climate disclosures for its banks comes soon after India released a draft framework aimed at facilitating a greater flow of resources to climate-friendly sectors. India is also gearing up to publish a new national emissions-reduction target ahead of the next round of global climate talks in Brazil in November. India, the world's third largest polluter behind China and the United States, currently aims to achieve a net zero emissions target by 2070. As part of the central bank's climate disclosure rules, banks will be required to calculate gross emissions of borrowers and disclose this information by asset classes and industries, according to the draft norms. Such disclosures are expected to be included in their financial statements. Separately, the central bank has also shared a 52-page draft note with large banks, a copy of which Reuters has reviewed, prescribing a methodology to forecast and analyse the impact of adverse climate events as well as transition risks on borrowers' ability to repay loans. The transition risks are those which emerge from the changing consumer behaviour, policy and technology changes, as the world moves towards a low-carbon economy, as per the note. While banks are preparing to disclose climate risk embedded in their loan portfolios, they do not expect these disclosures to impact loan pricing in the short term. "As of now we don't have enough granular data to reliably price in these risks in our portfolios, but the long-term approach could be in that direction," said the second source, who is a banker at a state-owned lender. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
India to issue climate risk disclosure rules for banks in the next few months, sources say
July 18 (Reuters) - India's central bank is close to finalising rules for banks and financial institutions to disclose and manage risks from climate change, three sources aware of the matter said. The move runs counter to several top global banks including JP Morgan, Citibank, Morgan Stanley and HSBC, which have decided to scale back their climate commitments with the re-election of climate-sceptic U.S. President Donald Trump being seen as a trigger. Getting a better idea of how, and to what extent, money is flowing to green investments is a central part of global efforts to move to a low-carbon economy, with countries from the UK to Japan making such disclosures mandatory. The Indian central bank's norms, which have been in the works since 2022, are expected to ask banks and financial institutions to make regular disclosures about climate-related risks in their loan portfolios along with mitigation strategies and targets, the sources said. The disclosures are likely to be on a voluntary basis from fiscal year 2027 and then mandatory from fiscal year 2028. India's financial year runs from April till March. Banks will also be asked to conduct periodic stress tests to gauge the impact of adverse climate events such as floods, heatwaves and cyclones on borrowers and the economy, based on a guidance note which the central bank is also likely to issue soon, the sources added. All three sources requested anonymity as they are not authorised to speak with media. The RBI did not respond to an email from Reuters. The central bank's decision to move forward with the rules has not been previously reported. The Reserve Bank of India has previously recognised climate change as a source of major financial concern, and released a draft standard disclosure framework in February 2024 for public feedback. 'The signal from the central bank based on recent meetings is that the detailed norms are almost finalised and are expected very soon,' the first source said. Many banks have already started collating data and setting targets to meet the disclosure standards, the source said. Some large banks have put out tenders to bring in climate consultants to help them with the disclosures, according to public documents. The RBI's decision to move ahead with climate disclosures for its banks comes soon after India released a draft framework aimed at facilitating a greater flow of resources to climate-friendly sectors. India is also gearing up to publish a new national emissions-reduction target ahead of the next round of global climate talks in Brazil in November. India, the world's third largest polluter behind China and the United States, currently aims to achieve a net zero emissions target by 2070. As part of the central bank's climate disclosure rules, banks will be required to calculate gross emissions of borrowers and disclose this information by asset classes and industries, according to the draft norms. Such disclosures are expected to be included in their financial statements. Separately, the central bank has also shared a 52-page draft note with large banks, a copy of which Reuters has reviewed, prescribing a methodology to forecast and analyse the impact of adverse climate events as well as transition risks on borrowers' ability to repay loans. The transition risks are those which emerge from the changing consumer behaviour, policy and technology changes, as the world moves towards a low-carbon economy, as per the note. While banks are preparing to disclose climate risk embedded in their loan portfolios, they do not expect these disclosures to impact loan pricing in the short term. "As of now we don't have enough granular data to reliably price in these risks in our portfolios, but the long-term approach could be in that direction," said the second source, who is a banker at a state-owned lender.
Argaam
2 days ago
- Business
- Argaam
Oil prices rise on seasonal demand for travel
Oil prices rose on Friday, driven by seasonal travel demand, as markets assessed the potential impact of drone attacks on oil fields in northern Iraq on supply. Brent crude futures for September delivery climbed 0.45%, or 30 cents, to $69.82 a barrel as of 08:00 am KSA time. WTI crude futures for August delivery also increased by 0.4%, or 27 cents, to $67.81 a barrel. Global oil demand averaged 105.2 million barrels per day in the first two weeks of July, up by 600,000 barrels per day from the same period last year, Reuters reported, citing a recent research note by JP Morgan. On the other hand, drone attacks that lasted four days disrupted more than half of the Kurdistan Region of Iraq's oil production, slashing output by around 140,000–150,000 barrels per day (bpd), compared to the normal level of around 280,000 bpd.
