On Monday, Barclays PLC (ADR) (NYSE:BCS)’s shares inclined 2.08% to $17.15.
While European leaders and Greek politicians struggle to reach a contract and stave off default, a new Barclays survey shows that investors are remarkably complacent when it comes to the potential impact of a “Grexit.”
According to the survey of nearly 900 investors, conducted by Barclays from June 10 to June 17, fewer than 20 percent of respondents thought a departure by Greece from the euro zone would be bad for wider markets.
So if not Greece, what do these investors actually think is the biggest risk to global markets?
It turns out many are worried about China and emerging markets, as growth in the region is slowing and stocks are pulling back. The Shanghai Composite Index fell roughly 13 percent last week, its biggest weekly drop in more than three years. About 16 percent of respondents to the Barclays survey cited persistent worries over worsening market liquidity, while 13 percent viewed policy withdrawal by the Federal Reserve as the main risk.
Elsewhere in the survey, investors appear bullish on stocks and bearish on bonds. A large majority called for equities to perform best over the next three months, with fixed income seeing the least number of bulls.
Barclays PLC, through its auxiliaries, provides various financial products and services worldwide. It offers personal and corporate banking, mortgage, and wealth and investment administration services to individuals and businesses; consumer payments products and services to consumers and merchants; and retail and business banking, corporate and investment banking, and wealth administration and insurance services.
Qorvo Inc (NASDAQ:QRVO)’s shares gained 3.00% to $87.81.
Qorvo Inc (QRVO) is planned to declare its fourth quarter financial results on Monday after the market closes. According to Estimize, expectations point towards a moderate quarter-over-quarter decline in earnings.
For the current quarter, the Street is modeling consensus earnings of $0.86 per share on revenue of $621.27 million. The crowd is more bullish and is projecting consensus earnings of $0.93 per share on revenue of $629.8 million.
While current estimates imply a marked enhance from the earnings of $0.12 per share and revenue of $256 million that RF Micro Devices posted a year ago, they also bring a double-digit decline from last quarter’s earnings of $1.18 per share on revenue of $741 million.
Qorvo, Inc. provides technologies and radio frequency (RF) solutions for mobile, infrastructure, defense, and aerospace applications in the United States and internationally. The company operates through Mobile Products, and Infrastructure and Defense Products segments.
At the end of Mondays trade, Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN)‘s shares surged 2.08% to $188.24.
Alexion Pharmaceuticals, Inc. (ALXN) declared recently that it has accepted for exchange all 21,021,124 shares validly tendered into the formerly declared exchange offer by a wholly owned partner of Alexion to acquire all of the outstanding shares of Synageva BioPharma Corp. for the agreed consideration of $115.00 in cash and 0.6581 shares of Alexion common stock for each share of Synageva. The shares accepted represent about 56% of Synageva’s outstanding shares.
The exchange offer expired at midnight, 12:00 a.m., New York City time, at the end of June 19, 2015.
Alexion Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes life-transforming therapeutic products. It offers Soliris (eculizumab), a therapeutic product to treat paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; and atypical hemolytic uremic syndrome (aHUS), a genetic disease. The company also conducts Phase IV clinical trials on Soliris for the treatment of PNH and aHUS registry; Phase III clinical trials for the treatment of delayed kidney transplant graft function and myasthenia gravis; and Phase II clinical trials for the treatment of antibody mediated rejection in presensitized kidney transplant patients and neuromyelitis optica.
Zions Bancorporation (NASDAQ:ZION), ended its Monday’s trading session with 1.76% gain, and closed at $32.08.
Zions Bancorporation (ZION) declared that it has sold the remainder of its collateralized debt obligation securities (“CDOs”). The sale of the securities is predictable to substantially reduce modeled risk to capital, particularly under severely adverse economic scenarios.
During the second quarter of 2015, the Company sold a total of $574 million (amortized cost) of CDOs for proceeds of $437 million, generating a realized pre-tax loss of $137 million. Prior to these sales, the Company received paydowns and payoffs of about $13 million in the second quarter of 2015. The value achieved through the sales represents a moderate improvement relative to the carrying value as of March 31, 2015, which reflected an unrealized loss of $149 million. Zions formerly declared that it had sold $81 million of CDOs through June 1, which is comprised of in the $574 million total for the quarter. Of note, because the unrealized loss of $149 million was comprised of in GAAP capital as of March 31, 2015, the exit from the CDOs at a somewhat better value is slightly accretive to pro forma GAAP book value and capital ratios.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending.
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