Kevin Rendino News
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Kevin Rendino, a senior fund manager at BlackRock Inc., will retire from the world’s largest asset- management firm next month, spokeswoman Jessica Greaney said.
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Smaller U.S. companies are rallying the most since 2003 relative to the Standard & Poor’s 500 Index, a sign to BlackRock Inc. and JPMorgan Funds that the economy will strengthen and spur a third year of gains for investors.
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Shareholders in U.S.-listed companies can thank Standard & Poor’s for making them $1 trillion poorer after the rating firm earlier this month lowered the grade on Treasury securities for the first time to AA+ from AAA. Now, some of the most experienced investors say the stock market losses make no sense.
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U.S. stocks advanced, sending the Dow Jones Industrial Average to the highest level since December 2007, after a better-than-estimated manufacturing report bolstered investors’ optimism in the world’s largest economy.
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PepsiCo Inc. Chief Executive Officer Indra Nooyi has taken over a coconut-water company, acquired a dairy in Russia and spent millions on a philanthropic marketing campaign. Her next big investment has a more familiar name: Pepsi-Cola.
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European equity valuations have fallen to the lowest levels since 2004 compared with the U.S., as economic forecasts between the two regions diverge by the most since 1998.
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Analysts are boosting U.S. earnings estimates by the most in a year, a sign to Barton Biggs and Michael Shaoul that stocks will weather the biggest drop in U.S. economic forecasts since 2009.
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Meyer Shields says earnings at Warren Buffett’s Berkshire Hathaway Inc. will increase the most since 2006 this year. He’s also telling investors to sell the shares because the economic recovery is weakening.
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Never before has the euro influenced U.S. stocks as much as this year, a sign that American equities aren’t going anywhere until Europe’s credit crisis is solved.
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The biggest rally in a year for companies most tied to economic growth is generating gains for BlackRock Inc. and Federated Investors Inc., and the advance may continue after valuations slipped to a two-year low.
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