Banks
Citigroup tops earnings estimates on better-than-expected trading revenue
Jane Fraser, incoming CEO of Citigroup. Citigroup Citigroup topped expectations for first-quarter profit and revenue on better-than-expected trading results as Wall Street benefited from surging volatility tied to the Ukraine war. Shares rose 2% in trading on Thursday. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of […]
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Goldman Sachs tops analyst estimates as trading desks crush expectations amid surging volatility
David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters Goldman Sachs posted first-quarter results that blew past expectations as its traders navigated a surge in market volatility sparked by the war in Ukraine. Here’s are the […]
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Morgan Stanley earnings top estimates fueled by trading revenue gains
A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE), January 19, 2022. Brendan McDermid | Reuters Morgan Stanley on Thursday reported first-quarter earnings that surpassed Wall Street expectations, thanks to the bank’s solid revenue gains from trading. Shares of the New York-based bank jumped more […]
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Wells Fargo shares fall as quarterly revenue misses estimates, bank says credit losses to increase
Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo on Thursday reported lower-than-expected first-quarter revenue amid a drop in mortgage lending, but beat earnings expectations as the bank decreased its credit reserves. Wells Fargo shares lost 3% in premarket trading. Here are […]
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Goldman Sachs picks its top chip stocks to play a new supply chain trend — including one it says has upside of over 60%
As the global semiconductor supply chain gets more local, Goldman names the stocks that could benefit. Source
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India’s central bank pivots focus from growth to fighting inflation as prices rise
Customers browsing through goods at a store on the outskirts of New Delhi, India, in February as prices continue to rise, with inflation figures for March nearing 7%. Anindito Mukherjee/Bloomberg via Getty Images | Bloomberg | Bloomberg | Getty Images Inflation in India is up sharply and signs point to a continuing upward trend, analysts […]
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Jamie Dimon sees ‘storm clouds’ ahead for U.S. economy later this year
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., listens during a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., Dec. 6, 2018. Andrew Harrer | Bloomberg | Getty Images The risk that the Federal Reserve accidentally tips the U.S. economy into recession as it combats inflation is rising, according to […]
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JPMorgan Chase reports $524 million hit from market dislocations caused by Russia sanctions
Jamie Dimon, Chairman and CEO of JP Morgan Chase. Adam Jeffery | CNBC JPMorgan Chase said Wednesday that first-quarter profit fell sharply from a year earlier, driven by increased costs for bad loans and market upheaval caused by the Ukraine war. Here are the numbers: Earnings: $2.63 a share (unclear if comparable to $2.69 estimate). […]
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European stocks slide 1.2% after undisclosed investor sells stakes in German banks; Deutsche Bank tanks 9.5%
LONDON — European markets sank Tuesday morning as traders monitored heaving selling in the banking sector, and looked ahead to key central bank meetings and U.S. inflation prints. The pan-European Euro Stoxx 600 index was down 1.2% in early deals, with the German DAX dropping 1.8% and the banking sector falling 2.3%. Reports on Monday […]
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Investor sells big stakes in Deutsche Bank, Commerzbank: Bookrunner
The headquarters of German banks Deutsche Bank (L) and Commerzbank in Frankfurt, Germany. FRANK RUMPENHORST | DPA | Getty Images An undisclosed investor is selling shares in Deutsche Bank and Commerzbank, a bookrunner said on Monday, stakes that amount to more than 5% in Germany’s top two lenders. The sale is for 116 million shares […]
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