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Float Short Indicates Bullish US Stocks: $NWG $CS $EXC

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Natwest Group says its staff will work from home until 2021

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Natwest Group PLC (NYSE:NWG) with a float short of 0.12% looks bullish. The Royal Bank of Scotland changed its name to NatWest Group thus effectively removing the name Scotland from the company's name since it was established in 1727. The company will still be headquartered in Edinburg but the name change doesn't affect RBS bank branches or Ulster Banks located in Northern Ireland. RBS had hinted about the name change in February when it reported annual results.

RBS has told it's over 50,000 UK banking staff that they will not go back to the office until 2021 even after UK Prime Minister Boris Johnson said that people can return to their workplace. The banking group said that staff that has been working from home will continue working from home until next year.

Credit Suisse Group report 24%increase in net profit in Q1

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Credit Suisse Group AG (NYSE:CS) looks bullish and has a float short of 0.23%. The company topped its Q2 earnings expectations and also launched a change to its investment bank. Net profit for the company increased 24% and it will merge with investment banking in a change from the structure that previous CEO Tidjane Thiam who had repositioned the bank to focus on wealth management. The company targets annual savings of 400 million francs by 2022.

The company has invested $100 million in Ant Group in a funding round setting the bank for a possible windfall with the Chinese company expected to go public. Credit Suisse is a regular advisor on various deals in the Jack Ma business empire and made the equity investment in the company in 2018 that was valued at $150 billion at the time.

Exelon declares quarterly dividend of $0.3825 per common share

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Exelon Corporation (NASDAQ:EXC) is also another stock looking bullish with a float short of 0.91%. The company's Board of Directors declared a quarterly dividend of $0.3825 per common share last week. The dividend will be payable on September 10, 20202 to stockholders that will be on record by August 14, 2020.

In its Q2 2020 results, the company reported a net income of 53 cents per share and adjusted operating EPS of 55 cents. Exelon has reaffirmed its FY2020 adjusted operating EPS guidance of between $2.8 and $3.1. the solid adjusted EPS was mainly a result of enhanced cost savings at Exelon Generation which helped in offsetting the damaging impact of storms affecting utility earnings.

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The post Float Short Indicates Bullish US Stocks: $NWG $CS $EXC appeared first on The Market Signals.

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