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NYSE:NTB 28 May 2026

Butterfield’s $1.8B CIBC Purchase Shakes Up Caribbean Banking

Butterfield’s $1.8B CIBC Purchase Shakes Up Caribbean Banking

Butterfield will acquire CIBC’s 91.67% stake in CIBC Caribbean for about $1.8 billion in cash and stock, valuing shares at $1.14 each. The deal, expected to close in the first half of 2027, would give Butterfield control of 41 branches across 10 countries and boost its assets to $29 billion. CIBC expects a 24 basis point increase in its core capital ratio. Approvals from shareholders and regulators are pending.
28 May 2026
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  • JPMorgan Upgrades MGM Resorts on Strong Las Vegas Tourism Outlook
    May 28, 2026, 10:30 AM EDT. JPMorgan upgraded MGM Resorts International to overweight from neutral, raising its 12-month price target to $46, suggesting a 10% upside. The investment bank cites resilient Las Vegas Strip tourism, which has remained stable in 2026 despite higher fuel prices linked to the Iran war. MGM's Las Vegas properties, including Aria and Bellagio, benefit from value promotions and drive-in customers. JPMorgan expects gaming earnings (EBITDAR) to improve in coming months, supported by anticipated demand following the 2027 opening of Hard Rock Las Vegas. Shares rose 9% on the upgrade, outpacing many Wall Street analyst ratings that remain cautious. JPMorgan's analysis of 20 casino openings showed an average 6% increase in visits and revenue growth in the market.

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Butterfield’s $1.8B CIBC Purchase Shakes Up Caribbean Banking

Butterfield’s $1.8B CIBC Purchase Shakes Up Caribbean Banking

28 May 2026
Butterfield will acquire CIBC’s 91.67% stake in CIBC Caribbean for about $1.8 billion in cash and stock, valuing shares at $1.14 each. The deal, expected to close in the first half of 2027, would give Butterfield control of 41 branches across 10 countries and boost its assets to $29 billion. CIBC expects a 24 basis point increase in its core capital ratio. Approvals from shareholders and regulators are pending.
Caesars edges up after $17.6B Fertitta deal, but CZR struggles under $31

Caesars edges up after $17.6B Fertitta deal, but CZR struggles under $31

28 May 2026
Fertitta Entertainment agreed to buy Caesars for $31 a share in cash, valuing the deal at $17.6 billion including debt. Caesars stock rose 1.6% to $29.25 on Nasdaq but stayed below the offer price. The board approved the sale and set a go-shop period through July 11 to seek higher bids. Fertitta secured financing from 10 banks; the deal is not contingent on funding.
Keel’s AI rally gets premarket test

Keel’s AI rally gets premarket test

28 May 2026
Keel Infrastructure shares fell 1.82% in premarket trading Thursday after a 7.31% gain Wednesday, as the company shifts from Bitcoin mining to AI data centers. First-quarter revenue dropped 23% to $37 million, with an operating loss of $98 million. Keel reported $533 million in liquidity as of May 8. The company completed its U.S. redomiciling and rebrand from Bitfarms in April.
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