General Motors (GM) has entered a long-term partnership with Barclays to launch exclusive GM Rewards Mastercard and GM Business Mastercard in the US. The partnership aims to offer cardholders unique benefits and experiences, including the ability to earn and redeem points on GM vehicles and services. This move expands Barclays’ US credit card portfolio and aligns with its growth strategy.
Barclays has upgraded CVS Health to Overweight, citing strong performance in the Pharmacy & Consumer Wellness (PCW) segment and potential upside from cost-saving initiatives. Despite challenging economic conditions, CVS’s diversified business model and market share gains have helped it weather the storm. The analyst expects continued market share growth, particularly as competitor Walgreens Boots Alliance moves to close unprofitable stores.
The Great Escape music festival will no longer be sponsored by Barclays after over 130 artists boycotted the 2024 edition due to the bank’s ties to companies supplying weapons to Israel. The boycott, organized by Bands Boycott Barclays and supported by the BDS movement, highlights the growing pressure on companies to divest from arms manufacturers and end support for the Israeli military. This victory comes after similar boycotts at other UK festivals, demonstrating the power of collective action in the music industry.
Barclays analyst Tim Long has issued a cautious outlook for Apple’s iPhone 16, citing potential build cuts and weak initial sales figures. Long’s analysis suggests that Apple may have already reduced iPhone component orders for the December quarter, indicating softer demand than anticipated. This, coupled with shorter wait times and sluggish sell-throughs, points to a challenging start for the new iPhone cycle.
Barclays has signed a multi-year sponsorship deal worth over £30 million with the Women’s Super League (WSL) and Women’s Championship, marking the biggest deal in British women’s soccer history. This significant investment signifies a major boost for women’s football in the UK, showcasing Barclays’ commitment to supporting the sport’s growth.
American Airlines is reportedly in negotiations with Citigroup to become its exclusive credit card partner, potentially ending its long-standing relationship with Barclays. While discussions are ongoing, regulatory approval and potential objections could delay or even prevent a new partnership.
Barclays analyst Adrienne Yih upgraded V.F. Corporation (VFC) to Overweight, citing potential for a multi-year turnaround driven by brand and product improvements. The analyst expects gradual improvements in the company’s fundamentals, with positive sales growth anticipated for the Vans brand and gross margin exceeding expectations in the first quarter of 2025.
Goldman Sachs is facing a potential $400 million pre-tax loss from the sale of its General Motors credit card portfolio. The sale, which is still under negotiation with Barclays, has been hindered by high charge-off rates, reflecting a significant portion of borrowers unable to repay their loans. The news comes amidst a challenging financial landscape for the banking industry, with other institutions like JPMorgan Chase also facing headwinds.
Barclays analyst Benjamin Budish upgraded Coinbase Global, Inc. (COIN) from Underweight to Equal-Weight, citing a more favorable regulatory environment and improved profit profile. Despite recent share price declines, Budish sees a more balanced risk/reward profile due to increased diversification and strong industry leadership in the U.S.
Barclays analyst Ramsey El-Assal has initiated coverage on MicroStrategy Inc with an Overweight rating and a price target of $146, highlighting the company’s unique approach to Bitcoin exposure and strong business fundamentals.
