Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, and asset management products and services to private individuals, corporate entities, and institutional clients in Germany, the United Kingdom, rest of Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. It operates through Corporate Bank, Investment Bank, Private Bank, and Asset Management segments. The Corporate Bank segment offers cash management, trade finance and lending, trust and agency, and securities services, as well as risk management solutions. The Investment Bank segment provides debt origination, merger and acquisitions, foreign exchange, and equity advisory and origination platform services. The Private Bank segment offers payment and account services, and credit and deposit products, as well as investment advice products, such as environmental, social, and governance products. This segment also provides banking, wealth management, other financial, and postal and parcel services; and supports in planning, managing and investing wealth, financing personal and business interests, and servicing institutional and corporate needs. The Asset Management segment offers investment solutions, such as alternative investments, which include real estate, infrastructure, liquid real assets, and sustainable investments; and various other services, including insurance and pension solutions, asset liability management, portfolio management solutions, and asset allocation advisory to individuals and institutions. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany.

Deutsche Bank AG

Key Points
Sentiment on the stock was still quite positive after Monday's explosive announcement.
The company made an 11-figure deal to divest spectrum licenses.
On Tuesday, EchoStar (NASDAQ: SATS) was still basking in the glow of the $19 billion spectrum license deal it signed with Elon Musk's extraterrestrial exploration company SpaceX. Investors continued to be drawn to EchoStar's star power after announcing the purchase Monday. What also helped were several positive analyst upgrades on the company's stock.
By the end of the day, EchoStar had risen again, closing the day almost 4% higher. That compared most favorably to the 0.3% increase of the bellwether S&P 500 index.
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Only the beginning?
One of the more bullish adjustments from a researcher was delivered Tuesday by Deutsche Bank. The lender's analysts cranked their EchoStar price target a robust 52% higher to $102 per share from $67.
Deutsche's new take was, naturally, based largely on the blockbuster deal. According to reports, the European bank calculates that the company will reap $14.4 billion after taxes from the arrangement. This is to be paid in a 50/50 mix of cash and SpaceX equity.
The pundits also speculated that this won't be the last spectrum sell-off from EchoStar. They wrote that divestments from the company's Advanced Wireless Services-3 (AWS-3) portfolio could be worth $9.9 billion. It flagged telecom giant Verizon Communications as a potential buyer, given that company's smaller collection of spectrum assets compared to rivals.
A shift might be coming
If EchoStar's SpaceX deal is indeed a harbinger of things to come, the company stands in front of significant revenue-generating opportunities. Yet the sell-off of its spectrum raises questions about its future business direction; investors should keep their ears to the ground and listen for management's comments about changes in business strategy.
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Why EchoStar Stock Popped Again Today

In order to expand its affluent client base, Bank of America’s BAC subsidiary, Bank of America Private Bank, has introduced the Alts Expanded Access Program in collaboration with Merrill Wealth Management. This program will be available in fall 2025, specifically to ultra-high-net-worth (UHNW) clients with a net worth of $50 million or more.
This program offers greater diversification benefits and complements the existing Alternative Investments platform. The key features include tailored access to emerging themes, supported recommendations, and client-directed due diligence.
Bank of America has been aiming to expand its market share to capitalize on the rising demand for alternative assets among UHNW clients. According to a Bank of America Private Bank study in 2024, 93% of the young HNW investors plan to increase their allocation to alternatives in the coming years.
In January 2025, Merril Wealth Management introduced its UHNW advisory group to offer comprehensive wealth and investment solutions for UHNW clients. Additionally, BAC launched Premium Access Strategies in 2022, a dual contract investment advisory program to cater to UHNW clients, which has grown to more than $60 billion in client assets in just three years. Furthermore, BAC announced plans to open 40 new financial centers in 2025, with an additional 70 in 2026, aiming to tap into growing markets such as UHNW.
Mark Sutterlin, head of alternative investments for Merrill and Bank of America Private Bank, stated, “This program is part of our broader commitment to meet the evolving needs of UHNW clients with increasingly complex financial goals.”
Other Major Banks Pushing for Affluent Clients
Alongside Bank of America, other major banks like Deutsche Bank DB and Barclays PLC BCS have been accelerating their plans to boost private banking and wealth management divisions to gain affluent clients.
In July 2025, Deutsche Bank announced the restructuring of its Wealth Management unit to drive growth and efficiency. As part of the restructuring, Deutsche Bank will streamline its offerings within the Wealth Management division to better serve a broad spectrum of clients, from digitally savvy individuals seeking convenient investment tools to HNW entrepreneurial families requiring complex, personalized advisory services.
In December 2024, Barclays’ CEO Sasha Wiggins shared plans to accelerate growth in its Private Banking and Wealth Management segment by increasing its headcount and hiring up to 100 advisers. “The UK is a large market with client investable assets totaling some £3.5 trillion ($4.45 trillion), split across digital investing, affluent and private banking segments,” Wiggins stated, signaling Barclays’ intent to capitalize on the rising affluent market.
BAC’s Price Performance, Valuation & Estimates
So far this year, shares of Bank of America have gained 13.2% compared with the industry’s 22% growth.
YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, BAC trades at a price-to-tangible book ratio of 1.84, well below the industry average of 2.86.
Price-to-Tangible Book Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BAC’s 2025 and 2026 earnings indicates year-over-year growth rates of 12.2% and 16.1%, respectively. Earnings estimates have remained unchanged for both years over the past month.
Expected Earnings Growth
Image Source: Zacks Investment Research
Currently, Bank of America carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names #1 Semiconductor Stock
This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.
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BAC & Merrill Expand Private Markets Access: A Push for UHNW Clients?

Key Points
After nearly doubling off its post-Liberation Day lows, Royal Caribbean stock has little margin for error.
The shares are richly valued relative to the stock's history and the broader cruise line peer group, and comps are getting tough to beat.
The recent rally by the shares and lofty multiples, coupled with a challenging macroeconomic environment, could conspire to keep a near-term lid on Royal Caribbean stock.
Following a mid-2022 fleet redeployment, Royal Caribbean (NYSE: RCL) has been a juggernaut among cruise line stocks, surging more than sevenfold over the past three years and more than doubling for the fiscal year ending Aug. 21.
Undoubtedly, those are impressive data points, but the second-largest cruise operator by revenue could succumb to waning momentum over the near term as tough year-over-year comparisons and macroeconomic headwinds take hold.
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Royal Caribbean's positive attributes
"Don't fight the tape" is an old investing pearl of wisdom, meaning investors are better off riding trends than fighting them. The saying is relevant in discussing Royal Caribbean because the stock has had momentum on its side. Looked at differently, simply because the cruise giant could be a pullback candidate doesn't imply that the retrenchment -- if it materializes at all -- will be deep or that market participants should aggressively short the stock.
Those are risky bets to place because Royal Caribbean has plenty of favorable arrows in its quiver. On Wall Street, the company is widely regarded as one of the best executors in the cruise industry, and its loyalty program differs from hotel peers in that it encourages repeat visitation rather than the earning and burning of points.
Additionally, consumers consider Royal Caribbean one of the premium names in the cruise line space. The company's recently launched Coco Cay destination and the Royal Beach Club in Nassau, coming online later this year, could be additive to demand.
Fundamentals? Check. Analysts expect Royal Caribbean to notch earnings before interest, taxes, depreciation, and amortization (EBITDA), free cash flow, and revenue growth this year and in 2026, cementing the notion that this is a structurally sound operator. The company's recent earnings per share (EPS) trajectory is impressive, as the recently completed fiscal second quarter represented the 13th consecutive period in which sell-side EPS forecasts were topped.
Looking further out, Royal Caribbean's knack for topping EPS estimates could continue, but it won't be easy because analysts are calling for earnings growth in the current quarter and three subsequent periods. The higher the bar is set, the harder it could be to clear if the macroeconomic environment doesn't cooperate.
Why Royal Caribbean could face stormy seas
Royal Caribbean has easily outpaced the S&P 500 this year, but that may be a case of the market focusing more on longer-ranging fundamentals than the specter of pullbacks in consumer discretionary spending and personal leisure budgets.
As for the factors that could become anchors on Royal Caribbean's ascent, they're not hard to find. This is a heavily indebted company. At the end of the second quarter, its outstanding liabilities stood at $19 billion, compared to cash and cash equivalents of $735 million, indicating high sensitivity to interest rate changes. Heavily indebted firms are often levered to Federal Reserve policy because high rates elevate their financing costs, which can sap profits, while making it harder to procure new capital. The problem is the Federal Reserve isn't guaranteed to cut rates, particularly if inflation remains sticky.
In fairness to Royal Caribbean bulls, Fed Chairman Jerome Powell recently signaled that the central bank could consider more accommodative monetary policy. That doesn't necessarily mean Royal Caribbean stock will come up aces.
One of the primary reasons central banks lower rates is to support a slack economy or stave off more weakness. In other words, a Fed rate reduction could be interpreted as an acknowledgment that the economy isn't where it needs to be, which could invite concern about stocks sensitive to consumer spending trends. Royal Caribbean checks that box.
As it is, plenty of leisure and hospitality stocks have already been bitten by that bug. If consumer sentiment and spending weaken, it's difficult to imagine Royal Caribbean sailing through that scenario unscathed. There's evidence that belt-tightening is already at play with cruise customers. Deutsche Bank's (NYSE: DB) second-quarter cruise survey indicates that travelers in the 55 and up age group expect to spend 4% less on their next cruise.
Paying up for risk with Royal Caribbean stock
Another oft-used investing saying is that valuation alone isn't a reason to buy or sell a stock. There's no getting around the fact that the market is littered with expensive names that have continually surged. Nvidia (NASDAQ: NVDA), anyone?
On the other hand, Royal Caribbean's status as an expensive stock shouldn't be ignored. It trades at 17 times earnings, compared to 10x to 13x for its peer group, according to Jefferies. That may be one reason investors are focusing on other cruise names. They want a bargain, or the perception of one, and Royal Caribbean isn't it.
Investor interest in other cruise equities is relevant for another reason. Historically, market participants, even some pros, have shown reluctance to own all of the big three cruise stocks -- Carnival (NYSE: CCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean -- at once. Throw in Viking Holdings (NYSE: VIK), which went public in May 2024, and there are more options for investors to evaluate, potentially making Royal Caribbean's elevated cost of admission look all the more unappealing.
At the end of the day, Royal Caribbean is a difficult name on which to be overtly bearish or call a clear "sell," but like its peers, it's beholden to consumer sentiment and macroeconomic data. That could be a sign that a better port of call will avail itself, opening the door for investors to get involved ahead of 2026 ship debuts and further out additions to the company's roster of land-based destinations.
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Todd Shriber has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. and Viking. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Royal Caribbean Stock May Be Sailing Toward Stormy Seas

Key Points
Adidas' stock plummeted 11% on July 30 after an underwhelming Q2 earnings report.
The stock struggled to recover any of those losses in August.
The sportswear company may reprioritize running shoes to help with revenue.
Tariffs have affected clothing companies globally, and Adidas (OTC: ADDYY) is no different. Its shares have dropped by 21% in 2025 as of market close Sept. 2, and after a disappointing second-quarter earnings report on July 30. However, the German shoemaker could have a plan to turn things around.
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Tariff impacts being felt
In its July 30 quarterly report, Adidas CEO Bjørn Gulden shared that the company suffered a multimillion-euro hit in the second quarter due to recent U.S. tariffs on imports implemented by President Donald Trump. The sportswear company fears it could face tariff-related costs of up to 200 million euros ($232 million) over the remainder of 2025, equivalent to 3.4% of its 5.95 billion euros ($6.9 billion) in Q2 revenue. Still, Adidas is optimistic that it will be "a leader in all markets" except North America.
Gulden also warned that consumer goods prices overall may increase in the U.S. because of tariffs. Even though Trump extended tariff moratoriums with China, other pauses expired after Aug. 1, including those for Vietnam and Indonesia, the two countries that supply Adidas the bulk of its goods.
Ironically, China was once the brand's leading manufacturer before it began pivoting to Vietnam within the last decade. If Trump's proposed 46% tariff on goods imported from Vietnam remains in effect, it could have a big impact on Adidas, as well as the businesses of other clothing companies that source their products from the country, which include Nike and Wayfair.
The company faced an 18% drop in share price in July, its worst-performing month this year. Following that, its price fell to $95.35 on Aug. 6, the lowest price of 2025. At this pace, Adidas is in danger of reaching its lowest price since October 2023 as there is uncertainty among investors and the apparel company itself due to tariff and sales concerns.
Will running shoes save Adidas' stock?
Adam Cochrane, an analyst at Deutsche Bank AG, recently described running shoes as the most "exciting category" of footwear for market growth. He expects Adidas and fellow German sportswear brand Puma to redirect focus toward this category due to the increasingly high demand, as they offer comfort and style. Adidas has already matched those predictions, having released two running shoes this year: the Adizero Adios Pro 4 in January and the Adidas Boston 13 in May.
Like Adidas, Puma has suffered serious losses this year. It reported a 2% decrease in sales in its Q2 earnings report on July 31. It also lowered its outlook for the rest of 2025 compared to its Q1 prediction. U.S. stock prices for the brand have plummeted by roughly 50% this year.
Waiting to see
With tariffs likely to continue pressuring imports to the United States, investors will be watching to see if Adidas raises prices for consumers. Once investors understand how Adidas plans to manage the increased cost of doing business in the United States, they'll be able to make a more informed decision about the stock's long-term value within their portfolio. But for now, investors should wait for the next earnings report before purchasing shares.
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Adé Hennis does not own shares of the companies mentioned in this article. The Motley Fool has positions in and recommends Nike. The Motley Fool recommends Wayfair. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Adidas Stock Turn Things Around?

Key Points
On Aug. 22, the government announced it was converting Intel's CHIPS Act grants into an equity stake.
Shareholders will be diluted about 8.9%, and over 10% when factoring another $2 billion investment by Softbank.
Despite the dilution, the stock went up on the news -- and there may be a very good reason for it.
On Friday, Aug. 22, the Trump administration announced that the U.S. government would be converting $8.87 billion in CHIPS Act grant money that had been awarded to Intel (NASDAQ: INTC) into equity in the company. The government will receive just over 433 million shares at $20.47, good for about 8.85% of Intel when factoring in another recent investment by Japanese tech giant Softbank (OTC: SFTB.Y).
Needless to say, it's unusual for the U.S. government to take a stake in a major company; it's the type of thing one may find common in other countries, but typically not in the USA, the center of "free market capitalism."
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Leaving out the philosophical issue of how much government should be involved in the private sector, is the deal a good one for Intel shareholders?
The Bad
"Free" money turned out not to be so free
While some have posited the government is throwing Intel a "lifeline," Intel was already supposed to receive this money without having to offer any shares in return. CHIPS Act grants were essentially subsidies to be paid out upon the completion of certain construction milestones for U.S.-based manufacturing fabs.
While Intel had only completed part of that buildout and other parts were still up in the air, the fact remains that CHIPS Act grants were supposed to be subsidies for projects Intel was likely to execute at some point. However, language in Intel's recent quarterly report suggested the Trump administration might not pay the funds out as prescribed by law, even as Intel is currently struggling with cash flow.
While we don't really know the dynamics behind the negotiations, we do know that at the end, money Intel was supposed to receive in return for its chip buildout had been converted to equity after the fact, flouting the CHIPS Act as it was intended. That legally dubious maneuver diluted shareholders who weren't expecting it, which really isn't a great precedent.
U.S. involvement may be a risk to international sales
In the "risks" section to the filing, Intel noted that the government's stake could put some of Intel's overseas sales at risk. That could be significant, as 76% of all Intel sales were in international markets, according to the filing.
While it may seem a long shot that a customer may choose another chip over Intel solely because of the government's involvement, it's not inconceivable. After all, China just told local businesses to stop buying the Nvidia (NASDAQ: NVDA) H20 chip, shortly after the Trump administration said the government would take 15% of all H20 sales to China, and administration official Howard Lutnick said the goal was to get Chinese developers "addicted to the American technology stack."
The government will go along with the board
Some free market purists may have taken comfort in the fact that the government pledged not to get involved in shareholder votes and therefore won't be dictating strategy to the company. However, that doesn't mean the government's stake won't have an impact.
In the agreement, the government agreed to vote along with the board of directors when it comes to all proposals and nominees. That means the government won't come in and impose its own agenda, but it will add to the power of the board.
History has shown that boards of directors are notoriously bad at policing themselves. Should Intel's board engage in any bad practices that outside shareholders disagree with, those shareholders will have a harder time making changes or decisions against the board's preferences.
Some have criticized Intel's board in recent years, with some shareholders noting that many members were on the board during Intel's fall from grace during the 2010s. Others have complained about the board's lack of semiconductor business experience, while others questioned last year's firing of CEO Pat Gelsinger.
The Good
Intel gets the money now, without conditions
Intel received the first $5.7 billion of the money last week, with the remaining $3.2 billion to come as Intel fulfills commitments under the Secure Enclave program, whereby it will produce chips for the U.S. military. So Intel gets help with its balance sheet now, instead of having to build and complete projects in the future on an uncertain timeline. That could certainly put potential customers' minds at ease when deciding whether to use Intel as their foundry.
In addition, Intel is free of other burdens, such as certain workforce requirements spelled out in the CHIPS Act. And Intel is also now freed from an "excess profits" clause, whereby it would have to pay cash flow above a certain threshold for each funded project back to the government.
So while shareholders are diluted, if Intel does become wildly successful in foundry, there may now be more upside than there was before.
The government could help "nudge" customers to use IFS
While it's unlikely the government will directly force chip customers to use Intel, it's possible the government's stake could spur customers to choose Intel over Taiwan Semiconductor Manufacturing (NYSE: TSM) if customers are on the fence and having to make a close choice.
After all, major tech companies such as Apple (NASDAQ: AAPL) have announced large U.S. investments to get on the administration's good side, so one could easily see a scenario whereby a customer shifts at least some production to Intel's foundry, IFS, as a gesture of goodwill.
Moreover, the Trump administration has been open to using "sticks" as motivators to get companies to build more in the United States. Using Intel's foundry may be a way to get around restrictions, tariffs, or unique taxes the government might otherwise impose in the future.
Softbank's $2 billion might not have come without government backing
It was interesting that just before the announcement of the government's investment, Intel announced a $2 billion equity investment from Japanese tech conglomerate Softbank just a few days prior.
Like the government's stake, Softbank's investment is for Intel equity, not just the foundry. And also like the government's investment, there were no apparent "strings" attached. However, it seems likely Softbank will steer one or more of its portfolio companies to use Intel foundry in the future.
Most notably, Softbank owns 90% of Arm Holdings (NASDAQ: ARM), whose chip architecture is used in a variety of low-power applications, such as smartphones and certain data center chips. Arm has reportedly been contemplating building its own AI chips. If that homegrown chip plan comes to fruition, it's possible Arm could use Intel foundry to build them.
Softbank has also made other big AI-related announcements this year. In May, it announced the acquisition of private AI chip company Ampere for $6.5 billion. Interestingly, Ampere's founder and CEO is an ex-Intel executive. Softbank is also collaborating with OpenAI on several AI ventures, including Stargate, the massive $500 billion AI data center infrastructure project based in the United States. Another is Cristal Intelligence, an enterprise-focused AI solution co-developed by both Softbank and OpenAI.
At last week's Deutsche Bank technology conference, CFO David Zinsner said it was a "coincidence" that Softbank had invested in the same week as the U.S. government. However, the timing does raise questions as to whether Softbank would have directly invested had the government not been in talks already. And if Intel needs to raise more money in the future for its 14A buildout, the government's involvement may also give confidence to future investors.
Intel may have something cooking
Finally, the government's investment could show confidence in Intel's technology. While it's true that Intel was owed this money anyway, the government also could have continued withholding the money if it didn't think Intel had any hope for a turnaround.
While we can't know what Lip-Bu Tan and other Intel executives discussed with the administration, it's clear that the administration gained more confidence in Intel over the past few weeks, with President Trump at first insisting on Tan's firing, only to then invest billions of dollars alongside him after their meeting.
Could Intel be on the brink if better things? Remember, Intel's 18A node was supposed to achieve technological equality with TSMC after a decade of underperformance, and 18A is set for its first production later this year, with Intel's Panther Lake CPU. 18A sports new innovations such as backside power, which TSMC won't introduce until later this decade, as well as gate-all-around transistors. There is also the possibility that Intel is going to use high-NA EUV technology on 18A, even though Intel originally slated high-NA use for its future node, 14A. After all, Intel has already purchased several high-NA machines and was the first company do so.
In any case, with Intel's first 18A chip due out later this year, it's possible the government saw improvement on the horizon.
The good appears to outweigh the bad
While the government's investment is certainly a strange turn of events, it seems the potential "goods" outweigh the "bads" at this point.
That's because the most important element here is Intel's ability to land customers for its foundry. If more customers sign up for IFS than they otherwise would have based on the government's stake, then the deal was likely to be worth it.
That's probably why, despite the shareholder dilution, Intel's stock went up on the news.
Should you invest $1,000 in Intel right now?
Before you buy stock in Intel, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Intel wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $651,599!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,067,639!*
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*Stock Advisor returns as of August 25, 2025
Billy Duberstein and/or his clients have positions in ASML, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends ASML, Intel, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends the following options: short August 2025 $24 calls on Intel and short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The U.S. Government Just Took a 9% Stake in Intel. Here's Why That's Both Bad and Good News For Shareholders.

Deutsche Bank AG DB has been fined HK$23.8 million ($3.05 million) by Hong Kong’s Securities and Futures Commission (SFC) for multiple regulatory breaches, including fee overcharging, misclassification of product risk and failure to disclose investment banking relationships in research reports.
This enforcement action comes within days of HSBC Holdings plc being fined HK$4.2 million by Hong Kong regulators for similar disclosure failures in more than 4,200 research reports published between 2013 and 2021.
Details of DB’s Regulatory Violations
The disciplinary action stems from investigations triggered by Deutsche Bank’s self-reports submitted between December 2020 and December 2023. The SFC found that between November 2015 and November 2023, the bank overcharged clients approximately $39 million in management and custodian fees. These overcharges resulted from failure to apply discounted fee rates and misstatements in fund valuations.
Additionally, Deutsche Bank assigned lower-than-appropriate product risk ratings to 40 exchange-traded funds. As a result, 10 transactions exceeded clients’ risk tolerance thresholds. The regulator also cited that the bank failed to disclose its investment banking ties with several Hong Kong-listed companies in 261 single-stock reports and 1,590 industry reports published between September 2014 and September 2021.
DB’s Response to the Violations
In a statement to Reuters, Deutsche Bank confirmed that it has resolved the identified issues and strengthened internal controls to prevent recurrence. The bank has refunded affected clients, emphasizing its commitment to regulatory compliance.
DB’s Zacks Rank & Price Performance
Over the past six months, DB shares have surged 63.9% on the NYSE compared with the industry’s growth of 23.7%.
Image Source: Zacks Investment Research
Currently, DB carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Legal Issues Faced by Other Banks
Earlier this week, JPMorgan JPM agreed to pay $330 million to settle ongoing and potential claims associated with the 1MDB sovereign wealth fund.
The settlement was announced as Swiss regulators, in a separate action, found the U.S. bank guilty and imposed a fine for JPMorgan’s failure to prevent money laundering in transactions associated with 1Malaysia Development Berhad.
Similarly, in the same month, ICICI Bank IBN was also charged a monetary penalty of INR7.5 million ($85,479) by the Reserve Bank of India (“RBI”) for non-compliance with regulatory requirements.
The penalty was imposed on the IBN for not complying with certain RBI guidelines related to the “Valuation of Properties - Empanelment of Valuers” and the “Opening of Current Accounts by Banks – Need for Discipline.”
Zacks Names #1 Semiconductor Stock
This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Deutsche Bank Fined $3M by Hong Kong's SFC Over Multiple Breaches

Key Points
Analysts have been downgrading BYD's full-year delivery forecast.
BYD is currently on pace to fall short of 2025 delivery estimates.
BYD is facing a challenging Chinese market amid a brutal price war.
Over the past few years, BYD investors have been spoiled. The Chinese electric vehicle (EV) juggernaut swept through the country's domestic EV market with relative ease and then applied tremendous pricing pressure with a long list of highly affordable and compelling EV vehicle options. While BYD has been a no brainer winner over the past five years with its stock trading nearly 380% higher over that time, it might finally be showing signs of slowing down.
Time to jump off the BYD hype train?
BYD's monthly sales and deliveries have stagnated over the summer months, which are traditionally slower selling months, providing fresh challenges for China's EV giant. Not only is BYD dealing with slowing sales, but it's also being reprimanded vocally by the Chinese government for applying so much pressure on pricing that it's caused a race to the bottom, slowly but surely eating away at industry margins. BYD slashed prices by as much as 34% in May, causing increased government scrutiny on the industry.
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In fact, in what would be a rare miss for the top Chinese EV maker, the company looks like it's going to fall short of its annual sales target for 2025. BYD would need to sell roughly 560,000 units monthly through December to hit its sales target, which would be more vehicles sold in one month than it ever has in its history -- BYD sold just short of 515,000 vehicles last December.
And now analysts are stumbling over themselves to downgrade BYD's annual sales estimates. In fact, Deutsche Bank AG said it now expects BYD to deliver 5 million in wholesales, which is simply deliveries to dealer networks, which breaks down into 4 million domestic deliveries and 1 million overseas as the company continues its global expansion.
Morgan Stanley lowered its delivery projection to 5.3 million last month, noting that a smaller number of new models would be a drag on company deliveries. Perhaps even worse yet, Bloomberg Intelligence's Joanne Chen said BYD will be forced to sacrifice some profits, while maintaining large incentives and discounting, if it wants to stay on track and have a chance at reaching its delivery estimates.
"Regulatory scrutiny will temper direct cuts to vehicle sticker prices but competition isn't going away and retail promotions are still needed to sustain sales momentum," Chen said, according to Automotive News. "New model roll outs and steady tech upgrade are also crucial."
Global expansion
Further, when you back out BYD's global expansion and the estimated deliveries overseas, investors will see that BYD's domestic car deliveries in China are shrinking. In June, domestic deliveries slipped 8%, compared to the prior year. HSBC data shows that Geely was the largest gainer of market share during the first half of 2025, while BYD was one of the biggest losers.
Back to looking at BYD's global expansion, while the company is on pace to reach its forecast of 800,000 overseas deliveries, it still faces challenges in two emerging markets: Saudi Arabia and India. Both markets are potentially huge, but Saudi Arabia has EV market share of just 1% of total sales and faces high costs, charging infrastructure challenges, and extreme temperatures that make EV adoption slower in the region. India, the world's third largest automotive market, has similar problems and substantial tariff headwinds that can increase the cost of imported vehicles by 100% in some cases.
Ultimately, investors should prepare for an inevitable slowdown in BYD's expansion after years of rocketing higher in deliveries and stock price. That said, eventually it's likely that BYD and other Chinese automakers will enter the U.S. market, and that could provide the company's next massive boost in deliveries and financials -- but when that will happen is anyone's guess. Long-term investors should stay the course because even if BYD slows down from its rapid rise it's still in an incredible position to thrive globally in the years ahead.
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HSBC Holdings is an advertising partner of Motley Fool Money. Daniel Miller has no position in any of the stocks mentioned. The Motley Fool recommends BYD Company and HSBC Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is It Finally Time to Jump Off the BYD Bandwagon?

The following companies are expected to report earnings after hours on 07/24/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
Intel Corporation (INTC)is reporting for the quarter ending June 30, 2025. The semiconductor company's consensus earnings per share forecast from the 14 analysts that follow the stock is $-0.14. This value represents a no change for the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for INTC is -75.77 vs. an industry ratio of 0.50.
Newmont Corporation (NEM)is reporting for the quarter ending June 30, 2025. The gold mining company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.06. This value represents a 47.22% increase compared to the same quarter last year. NEM missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -2.41%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for NEM is 13.01 vs. an industry ratio of 1.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Deutsche Bank AG (DB)is reporting for the quarter ending June 30, 2025. The bank (foreign) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.78. This value represents a 290.24% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for DB is 9.15 vs. an industry ratio of 11.20.
Digital Realty Trust, Inc. (DLR)is reporting for the quarter ending June 30, 2025. The reit company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.74. This value represents a 5.45% increase compared to the same quarter last year. In the past year DLR has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2025 Price to Earnings ratio for DLR is 25.42 vs. an industry ratio of 12.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Edwards Lifesciences Corporation (EW)is reporting for the quarter ending June 30, 2025. The medical instruments company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.62. This value represents a 11.43% decrease compared to the same quarter last year. In the past year EW has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2025 Price to Earnings ratio for EW is 31.26 vs. an industry ratio of 5.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Comfort Systems USA, Inc. (FIX)is reporting for the quarter ending June 30, 2025. The building company's consensus earnings per share forecast from the 3 analysts that follow the stock is $4.68. This value represents a 25.13% increase compared to the same quarter last year. In the past year FIX has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 29.78%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for FIX is 28.42 vs. an industry ratio of 32.00.
Weyerhaeuser Company (WY)is reporting for the quarter ending June 30, 2025. The building company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.10. This value represents a 52.38% decrease compared to the same quarter last year. WY missed the consensus earnings per share in the 2nd calendar quarter of 2024 by -4.55%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for WY is 61.81 vs. an industry ratio of 30.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Deckers Outdoor Corporation (DECK)is reporting for the quarter ending June 30, 2025. The retail (shoe) company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.68. This value represents a 9.33% decrease compared to the same quarter last year. In the past year DECK has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 75.44%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for DECK is 17.87 vs. an industry ratio of 21.30.
Healthpeak Properties, Inc. (DOC)is reporting for the quarter ending June 30, 2025. The reit company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.46. This value represents a 2.22% increase compared to the same quarter last year. In the past year DOC has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2025 Price to Earnings ratio for DOC is 10.30 vs. an industry ratio of 12.40.
Gaming and Leisure Properties, Inc. (GLPI)is reporting for the quarter ending June 30, 2025. The reit company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.94. This value represents a no change for the same quarter last year. In the past year GLPI has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.13%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for GLPI is 12.53 vs. an industry ratio of 12.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Kinsale Capital Group, Inc. (KNSL)is reporting for the quarter ending June 30, 2025. The insurance (property & casualty) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $4.41. This value represents a 17.60% increase compared to the same quarter last year. In the past year KNSL has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 17.78%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for KNSL is 26.98 vs. an industry ratio of 10.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Ovintiv Inc. (OVV)is reporting for the quarter ending June 30, 2025. The oil company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.04. This value represents a 16.13% decrease compared to the same quarter last year. In the past year OVV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 18.33%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for OVV is 7.43 vs. an industry ratio of 7.10, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for July 24, 2025 : INTC, NEM, DB, DLR, EW, FIX, WY, DECK, DOC, GLPI, KNSL, OVV

ICICI Bank Ltd.’s IBN net income for the first quarter of fiscal 2025 (ended June 30) was INR127.7 billion ($1.5 billion), up 15.5% from the prior-year quarter.
Results were driven by a rise in net interest income (NII), non-interest income and growth in loans. However, higher operating expenses, decline in deposits and provisions were the headwinds.
IBN’s NII & Fee Income Up, Expenses Rise
NII grew 10.6% year over year to INR216.3 billion ($2.5 billion). The net interest margin was 4.34%, down 2 basis points.
Non-interest income was INR72.6 billion ($847 million), up 13.7% year over year. Fee income increased 7.5% year over year to INR59 billion ($688 million).
In the reported quarter, IBN recorded a treasury income of INR12.4 billion ($145 million) compared with a treasury gain of INR6.1 billion ($71 million) in the prior-year quarter.
Operating expenses totaled INR113.9 billion ($1.33 billion), up 8.2% year over year.
ICICI Bank’s Loans Increase & Deposits Decrease
As of June 30, 2025, ICICI Bank’s total advances were INR13,641.5 billion ($159.1 billion), up 1.7% sequentially. Growth was primarily driven by a solid rise in business banking loans.
Total deposits declined marginally on a sequential basis to INR16,085.2 billion ($187.6 billion).
IBN’s Credit Quality: Mixed Bag
As of June 30, 2025, the net non-performing assets (NPA) ratio was 0.41%, which declined from 0.43% in the prior-year quarter. Recoveries and upgrades (excluding write-offs and sales) of NPAs were INR32.11 billion ($374 million) in the reported quarter.
In the fiscal first quarter, there were net additions of INR30.34 billion ($354 million) to gross NPA. Further, gross NPA additions were INR62.45 billion ($728 million), while gross NPA written-off was INR23.59 billion ($275 million).
Provisions (excluding provision for tax) increased 36.2% year over year to INR18.1 billion ($212 million). As of June 20, 2025, the bank held a total contingency provision of INR 131 billion ($1.5 billion).
Capital Ratios Strong for ICICI Bank
In compliance with the Reserve Bank of India's guidelines on Basel III norms, ICICI Bank's total capital adequacy was 16.97%. Tier-1 capital adequacy was 16.31% as of June 30, 2025. Both ratios were well above the minimum requirements.
Our Take on IBN
Increased consumer loan demand and growth in NII and non-interest income are anticipated to continue supporting ICICI Bank’s financials. However, elevated expenses, decreasing deposit balances and weak asset quality amid macroeconomic uncertainties are near-term challenges.
ICICI Bank Limited Price, Consensus and EPS Surprise
ICICI Bank currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Release Dates of Other Foreign Banks
HSBC Holdings plc HSBC is scheduled to announce second-quarter 2025 numbers on July 30. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
The consensus estimate for HSBC’s quarterly earnings has remained unchanged at $1.62 per share over the past week. The figure implies a decline of 1.8% from the prior-year quarter.
Deutsche Bank AG DB is slated to report second-quarter 2025 results on July 24.
The Zacks Consensus Estimate for DB’s quarterly earnings has remained unchanged at 78 cents per share over the past week. The figure implies an increase of 290% from the prior-year quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IBN's Q1 Earnings Rise Y/Y on Strong NII & Fee Income, Provisions Up

Estée Lauder Companies (NYSE: EL) stock was smelling sweet on the last trading day of the week. It had an analyst's recommendation upgrade to thank for that; following the change, investors traded the shares up modestly. They were up by almost 1.3% in late-session trading that day, handily beating the more or less sideways trajectory of the S&P 500 index.
The latest in a series
Well before market open, HSBC's Erwan Rambourg changed his Estée Lauder recommendation to buy from his previous hold. He also made quite the adjustment to his price target, boosting it to $99 per share from the preceding $80.
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According to reports, Rambourg now believes Estée Lauder is positioned to essentially double its earnings between its fiscal years 2025 and 2027. This will derive from active cost cutting and reorganization measures, although he's anticipating improvements on the top line too.
The HSBC pundit isn't the only market professional becoming notably more bullish on the cosmetics sector mainstay. On Thursday, Evercore ISI's Robbert Ottenstein lifted his price target to $100 per share from $90 while maintaining an outperform (buy, in other words) rating. And on Monday, Deutsche Bank's Steve Powers upgraded the stock from hold to buy.
Good reasons for optimism
While Estée Lauder isn't the cheapest stock to buy, at least on the basis of its valuations, the company has shown recent signs of improvement. In Powers' analysis, he cited management's success in boosting its business in China, a key overseas market, and the effectiveness of its cost-reduction strategy. Estée Lauder could very well prove to be a turnaround story.
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HSBC Holdings is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HSBC Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	13.09 13.37
Price/Sales	0.74 1.92
P/B	0.58 1.10
P/FCF	0.00 10.25

Indicator	TTM Median
ROE	4.78 10.06
ROA	0.27 1.13
ROI	1.97 6.38
Net Worth	53.45 0.99
Quick Ratio	0.00 1.40
Current Ratio	0.75 0.96

Indicator	TTM Median
Net Profit Margin	5.77 15.86
Operating Margin	10.25 21.72
Gross Margin	48.22 68.17
Return on tangible equity	5.29 12.03

Indicator	TTM Median
EPS	1.04 0.60
EPS Forecast	0.43 0.61
Revenue	16.00B 85.50M
Gross Profit	7.80B —
EBITDA	0.00 —

Deutsche Bank AG

TTM metrics for the latest quarter under IFRS and their historical dynamics

Valuation

Debts

Efficiency

Other ratios

Revenue