'The math just does not add up': Stock gains are at odds with reality, economist David Rosenberg says [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
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Source: Yahoo! Finance
The economist highlighted concerns about lackluster earnings support and negative economic indicators. The VIX was under 13 on Tuesday, continuing its longest streak below that threshold since 2018. The stock market is at odds with what is going on in the economy, top economist David Rosenberg says. The latest market frenzy has shades of July 2007, when stocks were caught in a swift decline just three months later, and Rosenberg notes that the mania fueling gains is "beyond the extreme." In a note on Tuesday, he argued that there has been a lack of solid economic fundamentals to sustain the big rally since the end of last year, describing the market as driven by "complacency, greed, and momentum." "The math just does not add up, and while the refrain 'better to be lucky than good' works now in this manic backdrop, I am still not comfortable chasing momentum into the top 10% valuations of all time," he wrote in the note. Despite the S&P 500's 9.4% gain so far this year, Ro
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FCNCA
News
- First Citizens BancShares, Inc. (NASDAQ: FCNCA) had its "outperform" rating re-affirmed by analysts at Keefe, Bruyette & Woods. They now have a $2,100.00 price target on the stock, up previously from $1,900.00.MarketBeat
- Birkoa CIO Pranjit Kalita Announces Regional Bank Investment Strategy [Yahoo! Finance]Yahoo! Finance
- Citizens Financial upgraded, First Citizens downgraded at Piper Sandler [Seeking Alpha]Seeking Alpha
- First Citizens BancShares, Inc. (NASDAQ: FCNCA) had its price target raised by analysts at Barclays PLC from $1,850.00 to $1,950.00. They now have an "equal weight" rating on the stock.MarketBeat
- Investors Seek Billions From SVB's Husk. Why Regulators Refuse to Pay [BNN Bloomberg (Canada)]BNN Bloomberg
FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 4/26/24 - Form 144
- 4/25/24 - Form 8-K
- 4/8/24 - Form PX14A6G
- FCNCA's page on the SEC website