JPMorgan Chase is reportedly in discussions with Apple to become the new issuer of the Apple Card, potentially replacing Goldman Sachs. Negotiations are ongoing, and a deal could still be months away as details like the price and agreement with Goldman Sachs are yet to be finalized. JPMorgan is looking for concessions from Apple and is willing to pay less than face value for the outstanding balances in the Apple Card program.
Barclays analyst Benjamin Budish upgraded Robinhood Markets (HOOD) to Equal-Weight from Underweight, citing the company’s transition from a meme stock trading platform to a more mature and competitive player. The analyst highlights Robinhood’s maturing model, promising product pipeline, and geographic expansion, which contribute to a more balanced risk/reward profile for the stock.
Bank of Hawaii (BOH) exceeded earnings estimates in the second quarter of 2024 but saw a decline in net income and revenues. While the company’s NIM improved, higher expenses and a drop in loan and deposit balances were offsetting factors. Credit quality remained mixed, but capital ratios improved. Although the company anticipates a stable or slightly higher NIM in the third quarter, overall estimates for Bank of Hawaii have trended downwards, resulting in a Zacks Rank #4 (Sell).
