June 2020 – Icarus Signals. The home of economic insight

Wells Fargo Says it Expects to Cut Dividend in the Third Quarter to Comply with Fed Stress Test

Posted on June 30, 2020 by TeamIcarus | 0 Comments

Wells Fargo warned on Monday that it will likely cut its dividend after the Federal Reserve announced it would cap dividends for banks based on earnings. Wall Street analysts pointed…

Here’s What Happened to the Stock Market on Monday

Posted on June 30, 2020 by TeamIcarus | 0 Comments

The Dow climbed 580.25 points, or 2.32%, to close at 25,595.80. The S&P 500 rose 1.47% to 3,053.24. The Nasdaq Composite advanced 1.20% to 9,874.15. Sharp gains from Boeing and…

China-Indian Borders Clashes Haven’t Dented Xiaomi’s India Performance

Posted on June 29, 2020 by TeamIcarus | 0 Comments

As the increasingly serious, yet somewhat opaque, border clashes between Super-powers India and China escapes extreme scrutiny within the current period's psychotic news-cycle, Chinese giant Xiaomi has advised that "Till…

Australia Faces a Second Wave

Posted on June 29, 2020 by TeamIcarus | 0 Comments

This week has been a stark reminder that the global economy’s fragile recovery faces significant hurdles amid a surge in coronavirus cases from the U.S. to Brazil and India. In…

Dave Portnoy Says The Day-Trading Revolution Will Slow Down

Posted on June 28, 2020 by TeamIcarus | 0 Comments

As casinos begin to open up this month, Dave Portnoy, the founder of Barstool Sports said he is eager to flock back to the sports betting industry, but market players…

PennyMac Financial (PFSI) Stock Moves -1.15%: What You Should Know

Posted on June 28, 2020 by TeamIcarus | 0 Comments

PennyMac Financial (NYSE:PFSI) closed the most recent trading day at $42.25, moving -1.15% from the previous trading session. This change was narrower than the S&P 500's 2.42% loss on the…

The 170% Stock-Price Rise Leading European Equities This Year

Posted on June 27, 2020 by TeamIcarus | 0 Comments

Covid-19 changed many things in the stock market. The meteoric rise of cloud-based platform provider Sinch AB wasn’t one. After a brief interruption to the stock’s ascent when the novel…

Occidental Plans to Issue Stock Warrants After Slashing Dividend

Posted on June 27, 2020 by TeamIcarus | 0 Comments

Occidental Petroleum Corp., the oil producer that earlier this year slashed its dividend to a penny per share, plans to issue roughly 113 million warrants to holders of its common…

Stock Futures are Flat After Bank Stress Test Results, Nike Reports Surprise Loss

Posted on June 27, 2020 by TeamIcarus | 0 Comments

U.S. stock futures were mostly flat on Thursday night following the release of the Federal Reserve’s latest bank stress-test results and disappointing quarterly numbers out of Nike. Dow Jones Industrial…

US Bank Stocks Sink As Fed Caps Dividends, Forbids Share Buybacks In Stress Tests

Posted on June 26, 2020 by TeamIcarus | 0 Comments

Bank stocks surged today ahead of what analyst Mike Mayo called “the most high-profile stress test since the financial crisis” thanks to handout on Volcker Rule and swap margin easings…