Tag Archives: Banking

Spotlight On Gambling Reset And Banking Bill
May 19, 2018 6:01 pm|Comments (0)

Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.

While investors will surely have their eyes on trade talks, developments in the oil market and rising interest rates in the week ahead — a sideline show will continue to be the complete reset in the gambling industry following the Supreme Court decision that opens up legalized sports betting. Notable movers since the SCOTUS decision came down include Dover Downs (NYSE:DDE) +46%, Scientific Games (NASDAQ:SGMS) +13%, Churchill Downs (NASDAQ:CHDN) +11%, Penn National Gaming (NASDAQ:PENN) +8%, The Stars Group (NASDAQ:TSG) +8% and Caesars Entertainment (NASDAQ:CZR) +8%. Across the pond, bookmaker stocks William Hill (OTCPK:WIMHY), Paddy Power (OTC:PDYPF), GVC Holdings (OTCPK:GMVHF) and 888 Holdings (OTCPK:EIHDF) also jetted higher. Expect even more price swings with new names as the ramifications become clearer. Nomura Instinet analyst Harry Curtis reminds that the upside potential from the Supreme Court decision down the road includes higher traffic and customer engagement at land-based casinos, as well as digital offerings and tech/financial partnership opportunities. On that last point, there’s a sense major players such as Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Visa (NYSE:V), Mastercard (NYSE:MA) and Google (GOOG, [GOOGL]]) aren’t going to completely ignore the developments. On the economic calendar this week, data on new and existing home sales will capture some attention.


Notable earnings reports: Monro (NASDAQ:MNRO) on May 21; Ctrip.com International (NASDAQ:CTRP), Urban Outfitters (NASDAQ:URBN), The Container Store (NYSE:TCS) and TJX Companies (NYSE:TJX) on May 22; Target (NYSE:TGT), Hewlett-Packard Enterprise (NYSE:HPE), Lowe’s (NYSE:LOW) and Lion’s Gate (NYSE:LGF.A) on May 23; GameStop (NYSE:GME), Best Buy (NYSE:BBY), Gap (NYSE:GPS) and Splunk (NASDAQ:SPLK) on May 24; Foot Locker (NYSE:FL) on May 25. See Seeking Alpha’s Earnings Calendar for the complete list.

IPOs expected to price: Evo Payments (EVOP) on May 22; CLPS (CLPS), Kiniksa Pharmaceuticals (KNSA), Scholar Rock (SRRK) and GreenSky (GSKY) on May 23; Iterum Therapeutics (ITRM) on May 24.

Analyst quiet period expirations: Ceridian HCM (NYSE:CDAY) and Nlight (NASDAQ:LASR) on May 21; DocuSign (NASDAQ:DOCU), Goosehead Insurance (NASDAQ:GSHD) and Smartsheet (NYSE:SMAR) on May 22.

Upcoming stock splits: DDR (NYSE:DDR) 1-for-2 on May 21, China Lodging (NASDAQ:HTHT) ADS-to-ordinary share ratio to change on May 24 from one ADS per four ordinary shares to one ADS per one ordinary.

Banking bill: The House of Representatives is expected to vote on a banking reform bill next week. The bill would raise the threshold at which banks are considered risks to the system to $ 250B from $ 50B. The legislation also exempts banks with less than $ 10B in assets from some proprietary trading rules. Zions Bank (NASDAQ:ZION), BB&T (NYSE:BBT), Bank of New York (NYSE:BK), State Street (NYSE:STT) and SunTrust (NYSE:STI) are just a few of the banks to keep an eye on with the new rules. On a broader scale, John Hancock Regional Bank Fund’s Lisa Welch observed that the S&P 500 bank index trades at 11.34X earnings estimates for the next 12 months compared with the historical mean of 12.56X. “It’s a sector that benefits from rising rates, a growing economy and a more favorable regulatory environment that’s trading at attractive valuations,” she noted.

Projected dividend hike announcements: Donaldson (NYSE:DCI) to $ 0.185 from $ 0.180, DXC Technology (NYSE:DXC) to $ 0.21 from $ 0.18, Flower Foods (NYSE:FLO) to $ 0.18 from $ 0.17, National Storage to $ 0.30 from $ 0.28, Tiffany (NYSE:TIF) to $ 0.55 from $ 0.50.

Notable Analyst/investor meetings: Micron (NASDAQ:MU), Monro (MNRO) and (NASDAQ:GLAD) on May 21; Walgreen Boots Alliance (NASDAQ:WBA), Brooks Automation (NASDAQ:BRKS), National Instruments (NASDAQ:NATI), Sanmina (NASDAQ:SANM), Xilinx (NASDAQ:XLNX), Atlas Financial (NASDAQ:AFH) on May 22; Align Technology (NASDAQ:ALGN), Thermo Fisher Scientific (NYSE:TMO), Phototronics (NASDAQ:PLAB), Pure Storage (NYSE:PSTG), Qorvo (NASDAQ:QRVO) and Huntsman (NYSE:HUN) on May 23; Cabot (NYSE:CBT) on May 24.

FDA watch: Loxo Oncology (NASDAQ:LOXO) and Bayer (OTCPK:BAYRY) are expected to hear on a FDA review for larotrectinib NDA, while Lexicon Pharmaceuticals (NASDAQ:LXRX) and Sanofi (NYSE:SNY) should find out whether sotagliflozin NDA for type 1 diabetes has been accepted for FDA review.

Wolfe Research 11th Annual Global Transportation Conference: Companies due to talk at the transportation industry get-together include Genesee & Wyoming (NYSE:GWR), American Airlines (NASDAQ:AAL), Delta Air Lines (NYSE:DAL), United Continental (NYSE:UAL), Alaska Air (NYSE:ALK), USA Truck (NASDAQ:USAK), J.B. Hunt Transport (NASDAQ:JBHT), Werner Enterprises (NASDAQ:WERN), ArcBest (NASDAQ:ARCB) and Daimler Trucks (OTCPK:DDAIF). The high cost of freight transportation has been a common topic on the Q1 earnings conference calls of retailers.

Crypto watch: The big blockchain event in New York last week didn’t light a fire under cryptocurrencies as regulatory concerns still linger. Over the last seven days, Bitcoin (BTC-USD) is down 2.3%, Ethereum (ETH-USD) is up 4.6%, Litecoin (LTC-USD) fell 2.5% and Ripple (XRP-USD) dropped 1%. ZCash (ZEC-USD) was one of the cryptos that did break significantly higher, with a 50% pop during the week,

Eyes on crude oil: Saudi Energy Ministry Khalid al-Falih will meet with Russian Minister of Energy Alexander Novak at a St. Petersburg economic summit next week. An election in Venezuela on Sunday could also impact oil prices if President Nicolas Maduro is re-elected to a six-year term. WTI crude oil trades at $ 71.28 per barrel, while Brent crude is at $ 78.51.

M&A watch: Shareholders with Bravo Brio Restaurant Group (NASDAQ:BBRG) will hold a special shareholder meeting on May 22 to approve the merger transaction with Spice Private Equity. The deadline for the start of the tender offer by Lilly (NYSE:LLY) for Armo BioSciences (NASDAQ:ARMO) hits on May 23. The go-shop period on the acquisition of VeriFone Systems (NYSE:PAY) by Francisco Partners expires on May 24.

60 Minutes: Alphabet will be featured in a story on the Sunday night news show. Critics are expected to take aim at the tech company over some of its anti-competitive practices.

Box Office: Fox’s (NASDAQ:FOXA) Deadpool 2 is expected to dominate the weekend box office. The Marvel comic book mashup is expected to take in $ 138M in a wide release of 4,439 theaters. Disney’s (NYSE:DIS) Avengers: Infinity War is predicted to come in second place with $ 29M to add to its eye-popping $ 1.69B global box haul through this week. Next Friday, Disney’s Solo: A Star Wars Story opens in a highly-anticipated holiday weekend debut. The U.S. box office is up 4.4% YTD.

Barron’s mentions: Procter & Gamble (NYSE:PG), Coca-Cola (NYSE:KO) and PepsiCo (NYSE:PEP) are lined up as attractive high-dividend stocks at knockdown prices. All three trade with a forward price-to-earnings ratio of lower than 20 and below their historic norms. Chinasoft International (OTC:CFTLF) and Baozun (NASDAQ:BZUN) are mentioned as two other ways for investors to play the digital explosion in China beyond first-movers Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU) and Tencent (OTCPK:TCEHY). Lowe’s is seen as having limited downside into its earnings report.

Sources: EDGAR, Bloomberg, CNBC and Reuters.

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

Tech

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Malaysia's CIMB says backup tapes containing banking customer data lost
November 13, 2017 12:01 pm|Comments (0)

KUALA LUMPUR (Reuters) – Malaysia’s CIMB Group Holdings Bhd on Monday said some magnetic tapes containing backup customer data were lost during routine operations, adding that there has been no evidence so far that any data has been compromised.

The tapes do not contain any authentication data such as pin numbers, passwords or credit card security numbers, the country’s second biggest lender said in a statement.

“Several magnetic tapes containing back-up data were physically lost in transit during routine operations. Some of these tapes contain customer information of CIMB Bank and its subsidiaries,” it said.

“Following a thorough and ongoing assessment, there is currently no evidence that any of this information has been compromised.”

The bank said it was working with relevant authorities and taking steps to protect customers. It did not say when the tapes were lost.

CIMB said it has heightened security measures following the loss of the tapes, including temporarily suspending some services via its call center.

In a separate statement, Malaysia’s central bank said it has been assured by CIMB that “necessary precautionary measures and mitigation actions have been taken to manage any possible negative impact arising from the loss of the tapes.”

Earlier this month, Malaysia said it was investigating an alleged attempt to sell data of more than 46 million mobile phone subscribers online, in what appeared to be one of the largest leaks of customer data in Asia.

Reporting by A. Ananthalakshmi, editing by David Evans

Our Standards:The Thomson Reuters Trust Principles.

Tech

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Dridex: First banking Trojan with AtomBombing to better evade detection
April 2, 2017 7:20 pm|Comments (0)

The Dridex Trojan, one of the most destructive banking Trojans, has been upgraded with a new injection method so the malware is even better at evading detection.

The newest version of Dridex, v4, is now the first banking Trojan to take advantage of AtomBombing, according to report by IBM X-Force. Unlike some of the more common code injection techniques, AtomBombing is meant to evade security solutions. Once one organized cybercrime gang successfully pulls off a slick trick, other cyber thugs are expected to adopt the method.

“In this release,” the researchers wrote, “we noted that special attention was given to dodging antivirus (AV) products and hindering research by adopting a series of enhanced anti-research and anti-AV capabilities.”

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Escaping the Problems of Legacy IT In Banking
October 19, 2016 9:50 pm|Comments (0)

The good news is that cloud computing can be of huge assistance in addressing these issues. In fact, we would go so far as to say that it is essential …


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IBM Banking on Cloud, Cognitive Computing in Transformation Effort
May 6, 2016 9:50 pm|Comments (0)

IBM has been racking up cloud wins of late, also tapping into its cognitive, IoT and mobile expertise to land new business.


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