Today, Sarat Sethi, Managing Partner, Douglas C. Lane & Assoc. and Karen Firestone, CEO, Aureus Asset Management commented about whether WAB-N, UNH-N, AMZN-Q, FRC-N, MS-N, PEP-Q, AMZN-Q, FRC-N are stocks to buy or sell.
Simply, they hired 746,000 during the pandemic, and they've announced 18,000 total layoffs earlier this year. So, the layoffs are a blip. Cost-cutting is important for these mega tech stocks. They are moving from products to services, which makes sense. They have room to grow. They had an EPS miss, but beat on revenue last quarter. They need to work on the balance sheet.
Last week she was going to sell this, but this morning she woke to see the game has completely changed. (Shares soaring 32%.) One bank's loss is another's gain. Signature Bank is hugely accretive to NY Comm's earnings with total book value rising 15%. NY is paying down debt, reducing reliance on costlier wholesale borrowing and the yield is capital neutral, so there's no need to raise capital.
Down 25% this morning and shares halted. The situation is changing constantly. He's watching it. Depositers are safe. Who will the bank merge with, etc? He has sold part of his position to a small holding. He will eventually decide whether to keep it or dump it.