News
- First Citizens BancShares agreed to pay $16.5 billion for $72 billion of assets (or loan portfolio), own and operate 17 branches of the former bank, the FDIC said in a statement.
The FDIC will retain $90 billion of assets of the now defunct Silicon Valley Bank and the agency received stock appreciation rights potentially worth $500 million in the First Citizens Bancshares, Inc.
The FDIC estimated the cost of the failure of Silicon Valley Bank to be approximately $20 billion and the exact cost will be determined once the receivership is terminated.
The FDIC and First–Citizens Bank & Trust Company entered into a loss–share transaction on the commercial loans it purchased from the former Silicon Valley Bridge Bank, National Association.
Mar 27, 2023 - The Federal Reserve revised the fed funds target range by 25 basis points to between 4.75% and 5.0%, matching the expectations set by most investors.
The central bank, in a node to the rising stresses in the U.S. banking system, said "the U.S. banking system is sound and resilient" and added that "some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time."
Mar 22, 2023 - PacWest Bancorp, the parent of Pacific Western Bank, in focus said it has "solid liquidity and stabilized deposit balances" in its latest update to investors.
The bank's holding company said total available cash is $11.4 billion, which exceeds $9.5 billion in uninsured deposits. The bank said deposit withdrawals were $6.8 billion in the current quarter to March 20.
The bank also confirmed it borrowed $3.7 billion from the FHLB, $10.5 billion from the Federal Reserve Discount Window, and $2.1 billion in Bank Term Funding Program,
The bank said it will pursue other "liquidity enhancing measures" and decided not raise capital in the "current depressed market conditions."
Mar 22, 2023 - Nike Inc, the athletic footwear and apparel company, reported higher revenue and earnings in its latest quarter.
However, gross margin suffered 330 basis points to 43.3% after the company used markdowns and promotion to liquidate inventories.
Revenue in the fiscal third quarter ending in February increased 14% to $12.4 billion and net income declined 11% to $1.2 billion from $1.4 billion and diluted earnings per share fell to 79 cents from 87 cents a year ago.
Nike increased its quarterly dividend to 34.0 cents from 30.5 cents a share or $528 million and repurchased 12.9 million shares for $1.5 billion.
The company has repurchased 32.0 million shares for $3.4 billion as of the end of February under the stock repurchase program of $18 billion approved in June 2020.
Mar 22, 2023 - GameStop Corp, the specialty retailer, swung to a profit and posted a surge in gross margin in its latest quarter.
Revenue in the fourth quarter ending on January 28 declined to $2.22 billion from $2.25 billion and the retailer swung to a net income of $48.2 million from a loss of $147.5 million and diluted earnings per share was 16 cents compared to ($0.49) a year ago.
In the full-year revenue decreased to $5.9 billion from $6.0 billion and net loss shrank to $313.1 million from $381.3 million and diluted loss per share fell to $1.103 from $1.33 a year ago.
Mar 22, 2023
Price
- Last Close
-
$ 3.13
0 %
+0.01
Dec 26, 2019
- Trading Volume
- 1,189,600
- 52-Week High/Low
- $0 - $0
- Market Cap Full
- $ 0
- YTD
- 0%
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | - | - | - | - | - | - | - | - | - | - |
| Q2 | - | - | - | - | - | - | - | - | - | - |
| Q3 | - | - | - | - | - | - | - | - | - | - |
| Q4 | - | - | - | - | - | - | - | - | - | - |
| J | F | M | A | M | J | J | A | S | O | N | D | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | - | - | - | - | - | - | - | - | - | - | - | - |
| 2022 | - | - | - | - | - | - | - | - | - | - | - | - |
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0% | 0% | 0% | 0% | 195% | 0% | 0% | 0% | 0% | 0% | 0% |
Earnings
| Q1 |
| Q2 |
| Q3 |
| Q4 |
| A |