Wells Fargo & Co
‘What recession?’ Evercore ISI says after bank earnings show consumers are paying their debts
The odds of recession may be rising, but consumers haven’t gotten the memo yet. That’s one of the main takeaways from second-quarter reports from the six biggest U.S. banks. While signs of financial stress and the impact of rising interest rates have begun to appear at banks’ Wall Street operations, the core lending and deposits […]
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Bank of America tops expectations on revenue as lender benefits from higher interest rates
Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during “Barron’s Roundtable” at Fox Business Network Studios on January 09, 2020 in New York City. John Lamparski | Getty Images Bank of America on Monday posted mixed second-quarter results that included the benefit from rising interest rates and about $425 million in expenses […]
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Stocks making the biggest moves midday: Citigroup, Wells Fargo, Pinterest and more
Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading. Pinterest — Shares of the image-sharing social media company surged 16.2% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake. Citigroup — Citigroup rallied 13.2% after second-quarter […]
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Stocks making the biggest moves premarket: UnitedHealth, Wells Fargo, Pinterest and others
Check out the companies making headlines before the bell: UnitedHealth (UNH) – The health insurer’s stock rose 1.7% in the premarket after its quarterly earnings and revenue beat forecasts, and it raised its full-year outlook. The company’s results were helped in part by a strong performance at its Optum health care services unit. Wells Fargo […]
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Wells Fargo profit falls as the bank sets aside funds for bad loans, company’s shares drop 3%
Charles Scharf Qilai Shen | Bloomberg | Getty Images Wells Fargo said Friday that second-quarter profit declined 48% from a year earlier as the firm set aside funds for bad loans and was stung by declines in its equity holdings. Here are the numbers: Earnings per share: 74 cents, including an 8 cent per share […]
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Jim Cramer says investors should eye these 5 downtrodden stocks
CNBC’s Jim Cramer on Thursday said that investors should search for buying opportunities among stocks being hammered by the turbulent stock market. “You could argue that for many groups, this bear market’s simply about working off the excesses of the past two years. … However, for some stocks, the sell-off has even been worse than […]
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Dimon rips Fed stress test as ‘terrible way to run’ financial system after his bank halts buybacks
Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Janvhi Bhojwani | CNBC JPMorgan Chase CEO Jamie Dimon didn’t mince words when it came to the regulatory process that forced his bank to suspend its stock buybacks. Asked by veteran banking analyst Betsy […]
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JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybanks
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy,” […]
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Morgan Stanley misses analysts’ profit expectations on worse-than-expected investment banking
James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue. Here are the numbers: […]
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Jim Cramer says the market could see ‘pleasant surprises’ going forward
CNBC’s Jim Cramer on Monday said that most of the sellers have already left the market, meaning that the turbulence in stocks could ease up. “To me, this mad scramble to get out ahead of the negativity is a sign that the bad news … is mostly baked in,” he said. “Everybody’s scrambling to get […]
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