Author: businessinvestopedia.com

Dive Overview: Tupelo, Mississippi-based Renasant Corp. will buy smaller rival First Bancshares Inc., based in Hattiesburg, Mississippi, for about $1.2 billion in an all-stock transaction, the two banks announced Monday. Through the partnership, the combined company will have a presence in six southeastern states and approximately $25 billion in assets, $18 billion in loans and $21 billion in deposits. Monday’s News ReleaseRenesant has been looking at a number of acquisition opportunities, but “this is the deal we’ve been looking for.” Renasant CEO Mitch Wecaster said on a conference call with analysts on Tuesday. merger, The investment, which has been approved…

A Spirit Airlines commercial aircraft prepares to land at San Diego International Airport in San Diego, California, USA, January 18, 2024. Mike Blake | ReutersFree Wi-Fi? Free checked bags? Free snacks? spirit?The Florida-based airline synonymous with cheap air travel in the United States said on Tuesday it plans to offer its highest-priced tickets packaged with perks that it previously offered as standalone items, an attempt to boost revenue as the company struggles with the fallout from a blocked U.S. takeover. JetBlueengine recalls, an oversupplied domestic market and larger rivals capitalizing on both premium-minded and cost-conscious travelers.Spirit Airlines plans to launch…

According to Vanguard, a top investor, the recent small-cap rally may still have more upside due to valuation gaps and the economic environment. Greg Davis, president and chief investment officer of Vanguard, told CNBC’s Bob Pisani that the small-cap rally makes sense from a valuation perspective and could continue. “Small-cap stocks still look relatively cheap to us compared to some of the larger-cap stocks that are out there,” Davis said. The small-cap Russell 2000 rose nearly 10% in July, while the S&P 500 was flat and the Nasdaq Composite Index fell 2%. Small-cap value stocks in particular have outperformed, including…

Here’s a look at some of the companies catching our eye in midday trading: McDonald’s — Shares of the fast-food giant rose nearly 4% after its quarterly profit and sales missed Wall Street expectations. Investors seemed relieved that the company plans to continue using its $5 value menu as a way to win back lower-income customers. Management said the strategy has helped improve sentiment about the brand’s value and affordability. Revuvity — The life sciences company rose 9% after its second-quarter profit beat expectations. Revuvity’s adjusted earnings of $1.22 per share beat FactSet’s estimate of $1.12 per share. The company’s…

Bitcoin is approaching $66,000, wiping out all gains from the past week. Sentiment has worsened after a significant amount of assets were moved out of U.S. government-related wallets, raising concerns among traders that selling pressure is imminent. BTC fell 5% in the past 24 hours after the U.S. Marshals Service moved $2 billion worth of BTC to two new wallets, but has since recovered slightly. Tracking service Arkham estimates that at least one of the wallets is likely a custody service. Bitcoin is trading around $66,550 at the time of writing, down 4.3% from 24 hours ago. The broader cryptocurrency…

The lights of Frankfurt am Main’s banking district sparkle in the last rays of day.Boris Rosler | Picture Alliance | Getty ImagesThe euro zone’s economy grew more than expected in the second quarter of 2024, according to preliminary figures released by the European Union’s statistics office on Tuesday.The data showed the region’s gross domestic product grew 0.3 percent in the three months to the end of June from the previous quarter. Economists polled by Reuters had expected a quarterly increase of 0.2 percent.First-quarter GDP was confirmed at 0.3%, unchanged from the initial figure released earlier this year.Revised data released earlier…

Bajaj Holdings and Investments Ltd shares were trading at Rs 9,687.15 on the BSE as of 12.17 pm IST on Tuesday, up 0.44 per cent from the previous day’s closing price. The stock had a 52-week low of Rs 6,634.6 and a high of Rs 10,080.15. Prior to this, the company’s stock price had started the morning trading lower. A total of 8.67 million shares were traded till 12:17 pm IST. Bajaj Holdings & Investments Ltd. shares have a market capitalisation of Rs 1,077,766.4 crore. Its price-to-earnings ratio (P/E) is 14.44 and price-to-book ratio is 1.7. Its return on equity…

Investors with cash are getting a nice yield, but that attractive income is about to run out. Money market fund assets hit $6.14 trillion as of the week ending July 24, according to the Investment Company Association. Can you blame investors for putting their cash into these vehicles? The largest money market fund has an annualized seven-day current yield of 5.12%, according to the Crane 100 Money Fund Index. The bad news is that, according to the CME FedWatch tool, federal funds futures trading data shows that there is a 100% chance that the Federal Reserve will ease interest rate…

A look at some of the companies that made headlines after the close: F5 — Tech stocks surged 14% in after-hours trading after the company reported strong quarterly results. F5 reported third-quarter adjusted earnings of $3.36 per share, beating LSEG’s expectations of $2.97 per share. Revenue also came in at $695 million, beating expectations of $686 million. Lattice Semiconductor — Shares of this chip stock fell more than 10% in after-hours trading after the company reported disappointing earnings. Lattice reported adjusted earnings of 23 cents per share, 1 cent below LSEG’s expectations, and revenue also fell short of expectations. Third-quarter…

Real estate is part of the market that investors are entering amid rising expectations of interest rate cuts. The market expects inflation data this month to give the Federal Reserve justification to cut interest rates, as the Fed has repeatedly stated that lower consumer prices are necessary to cut interest rates. Real estate-related assets, such as REITs, are generally thought to benefit from low interest rates. This is because much of the investment in this asset class involves leverage and borrowing, and the lower interest rates are, the lower the cost of holding the investment. A low interest rate environment…