Hints and tips:
...Formed in 2019 by a tie-up between BB&T and SunTrust, Truist lost nearly $5bn in the quarter, down from a profit of $1.6bn in the same quarter the year before....
...The perimeter of the financial junkyard is defined by a rating of BB+ from Fitch and S&P, and Ba1 from Moody’s....
...BB&B shares are down more than 20 per cent, which will happen when you have to issue a “going concern” warning....
...Truist, the regional bank formed in 2019 through the merger of BB&T and SunTrust, also cut its revenue growth target for 2023 “driven almost entirely by a lower net interest income outlook given higher deposit...
...Capital Group US Multi-Sector Income ETF, meanwhile, will target a high level of income with some capital appreciation by investing predominantly in US bonds rated BB+/Baa1 or below, including non-rated...
...(BB&B has gyrated between $4 and $28 over the past year, often moving wildly with no other impetus than social media hype)....
...The international rating agency pushed the long-term debt rating deeper into junk territory, lowering it from BB- to B+ — putting G20 country on a par with Benin, Egypt, Turkmenistan, Rwanda and Kenya....
...It would never be obviously child porn, you know, inc come here and buy your images. So it was quite deceptive, I would say....
...For the electric vehicle company run by Elon Musk to justify the stratospheric $1tn stock market valuation it hit this week (while remarkably still bearing a subinvestment credit rating of BB+), Tesla has...
...Pittsburgh-based PNC became the fifth-largest US bank by assets last year after it acquired the American business of Spain’s BBVA for $11.6bn, while a year earlier BB&T bought SunTrust for $28bn to create...
...Walmart, Salesforce, Johnson & Johnson, HP, Truist (formerly BB & T and SunTrust banks) and utility Southern Company gave rival US business school teams diversity goals to meet, and asked them to come up...
...This article has been modified since publication to clarify that Chris Nicholas is CFO of Walmart International, not Walmart Inc...
...You can access these ideas through listed biotech stocks and their accompanying funds such as BB Biotech, but I think the most interesting ideas are in private venture capital....
...The deal is the first large bank merger since BB&T bought SunTrust for $28bn in February of 2019, forming what is now Truist....
...Last year, BB&T and SunTrust combined in a $66bn all-stock deal that created a commercial banking giant in the south-east of the US, with more than $400bn in assets....
...Recent acquisitions have demanded high prices or been mergers of equals, such as when BB&T combined with SunTrust last year to create a bank just bigger than Mr Demchak’s....
...S&P on Tuesday lowered its rating for Macy’s to BB+ — one notch below investment grade — from BBB-, saying it viewed Macy’s turnround plan as necessary but also a sign that the department-store chain’s “...
...BB&B’s total return over the same time period is minus 75 per cent. Mr Tritton’s immediate focus will be on accelerating BB&B’s business transformation....
...Bernstein analysts also argued the credit agencies “have got it backwards”, noting that they rate Netflix bonds at BB-, or “junk” level, while the struggling media group ViacomCBS is rated at BBB, giving...
...That came a day after S&P lowered its rating for Macy’s, the department store chain, to BB+ — one notch below investment grade — from BBB-....
...Kelly King, head of BB&T, will be Truist’s chairman and chief executive....
...Fitch cited Murat Cetinkaya’s dismissal in its decision to cut Turkey’s long-term debt rating deeper into junk territory, to BB- with a negative outlook....
...The BB&T/SunTrust combination will have an asset base of $442bn, nowhere close to a JPMorgan or Citigroup....
...BB&T’s acquisition of rival SunTrust for $28bn is certainly a defining moment for the industry. It's fist bumps all round for SunTrust’s Bill Rogers, left, and BB&T’s Kelly King....
...The rating agency cut the country’s outlook from “stable” to “negative”, while maintaining its junk BB+ rating on both local and foreign-currency debt....
International Edition