Summary: Bank OZK's shares drop 14.5% after Citigroup downgrades the stock to 'sell' from 'buy' due to concerns with its projects and life science construction lending, affecting other regional banks in a weak market.
Full articleSummary: Regional lender Bank OZK drops 14.5% due to concerns with projects and life science construction lending, leading to downgrades by Citigroup. Other regional lenders also fall in a weak market. Brokerages have mixed ratings on OZK with median PT at $49.50.
Full articleSummary: Costco is currently offering incentives on new Polestar, Volvo, Cadillac, and Chevrolet vehicles, including electric models, for Costco members through its Costco Auto Program until July 31, 2024. Members can get up to $2,000 off on select vehicles like the Polestar 2.
Full articleSummary: US banks are increasingly selling commercial real estate loans to get ahead of stress in the sector. Banks like Pacific Premier Bancorp, Brookline Bancorp, and Hilltop Holdings are offloading problem loans, while Valley National Bancorp and Webster Financial Corp are diversifying their loan books through loan sales.
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