Quick Bytes Fri, June 24th: BrExit, Barclays PLC (ADR)(NYSE:BCS), Royal Bank of Scotland Group PLC(NYSE:RBS), Citigroup Inc(NYSE:C), Microsoft Corporation(NASDAQ:MSFT)
A quick digest of what’s hot and trending for Friday, June 24th. Here are your quick news bytes (yes we know it is bites) to get you caught up quickly with some interesting reads. We’re all waking up to a BrExit and the market is contemplating what it means. Markets hate uncertainty and people thought it was a certainty Britain would remain.
- Bank shares being hit especially strong from a BrExit. Banks in the UK like Barclays PLC (ADR)(NYSE:BCS) and Royal Bank of Scotland Group PLC(NYSE:RBS) are down over 20%, while big US banks are down in excess of 5% with Citigroup Inc (NYSE:C) leading the way down 7 percent. Citigroup has more extensive International operations then some of the bigger banks. (SeekingAlpha)
- Microsoft Corporation(NASDAQ:MSFT) is soft launching its NFC Payments on Windows phone in its Microsoft Wallet. The service will be available to Windows Insiders first for testing on the Lumia platforms. (BusinessInsider)
- Healthcare roundup saw Cerner upgraded to Buy from Neutral, with PT of $65, Catalent upgraded to outperform with a $26 PT, Centene upgraded to Overweight with a PT of $82, and Valeant downgraded to neutral and PT lowered to $35 of many things (SeekingAlpha)
- Alphabet Inc(NASDAQ:GOOG): Google’s Android Pay adds a map service that will let you know what places in the area accept Android Pay. (BusinessInsider)
- New Pictures of Tesla Motors Inc(NASDAQ:TSLA)‘s Model 3 emerge after a roadtest in California. (TeslaUpdates)
BrExit, BrExit, BrExit… is the theme otherwise, with gold soaring and uncertainty hammering markets. I’ve avoided sharing too much on the BrExit because frankly there is a lot of fear mongering. The affect of a BrExit is unknown and markets don’t like unknowns. I saw it best on Twitter when said by TheRationalWalk “Wake me up if Buffett or someone who actually knows what they are talking about decides to talk about the current situation.”
Stay calm and measured and look for bargains!
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