Morgan Stanley on Tuesday posted results that topped analysts’ estimates for profit and revenue as wealth management, trading and investment banking exceeded expectations. Here’s what the company reported: Earnings: $2.02 a share, vs. $1.66 expected, according to LSEG Revenue: $15.14 billion, vs. expected $14.41 billion The bank said first-quarter profit rose 14% from a year…
Check out the companies making headlines before the bell. UnitedHealth — Shares popped roughly 7% after the healthcare giant posted better-than-expected revenue in its first-quarter results on Tuesday, with growth of close to 9% from $91.9 billion in the same period last year. UnitedHealth reported adjusted earnings of $6.91 per share on revenue of $99.8 billion…
Check out the companies making headlines in midday trading. Tesla — Shares fell 2.8% after an internal memo said the electric vehicle maker is planning to lay off more than 10% of its global workforce . “As we prepare the company for our next phase of growth, it is extremely important to look at every…
Check out the companies making headlines before the bell. Goldman Sachs — Goldman Sachs shares jumped 3.3% in premarket trading after the company beat Wall Street’s first-quarter earnings expectations . Goldman posted earnings of $11.58 per share on revenue of $14.21 billion for the period, fueled by its trading and investment banking businesses. Analysts surveyed…
The Freetrade logo on a smartphone screen. Rafael Henrique | Sopa Images | Lightrocket | Getty Images British stock trading app Freetrade hit eked out breakeven earlier this year, the company told CNBC, marking its first-ever move into the black after incurring full-year losses in 2023. Freetrade reported adjusted earnings before interest, tax, depreciation, and…
David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday. Here’s what Wall Street expects: Earnings: $8.56 per share, according to LSEG Revenue:…
Larry Swedroe, who is considered one of the market’s most esteemed researchers, thinks Warren Buffett’s investment style doesn’t work well anymore. He cites the number of professional Wall Street firms and hedge funds now participating in the market. “Warren Buffett was generally considered the greatest stock picker of all time. And, what we have learned…
Check out the companies making headlines in midday trading. JPMorgan — The bank fell 5% after disclosing that its net interest income level could fall short of Wall Street analysts’ expectations in 2024, despite beating both top- and bottom-line estimates in its last quarter. CEO Jamie Dimon also underscored the danger of inflationary pressures. Wells…
Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected results in the bank’s investment banking and trading operations. Here’s how the company performed, compared with estimates from LSEG, formerly known as Refinitiv: Earnings: $1.86 per share, adjusted, vs. $1.23 expected Revenue: $21.10 billion vs. $20.4 billion expected The bank said profit…
Cathie Wood’s Ark Invest has taken a stake in OpenAI, the popular artificial intelligence player that’s behind the viral messagebot ChatGPT. In a Thursday email to clients, the St. Petersburg, Florida-based asset manager said her ARK Venture Fund had invested in OpenAI as of Wednesday. “OpenAI is at the forefront of a Cambrian explosion in artificial…
