A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020. Jeenah Moon | Reuters Wells Fargo on Friday reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income. Here’s how the company performed compared with what Wall Street was anticipating, based on a…
Check out the companies making headlines in premarket trading. JPMorgan — The bank slipped 2.4% despite beating expectations on both lines and reporting lower credit costs than anticipated. However, the bank said net interest income, a key measure of what it makes through lending activities, could be somewhat short of what Wall Street analysts are…
Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC’s “Squawk Box” at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024. Adam Galici | CNBC JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Friday. Here’s what Wall Street expects: Earnings: $4.11 a share, according to…
Investors looking to weather a volatile market may want to opt for physical gold over gold stocks. That’s according to George Milling-Stanley, one of the world’s experts in gold and the chief gold strategist at State Street Global Advisors. “One of the reasons I own gold bar(s) is that I believe it offers me some…
Check out the companies making headlines in midday trading. CarMax — The used vehicle seller tumbled 13% after reporting fourth-quarter earnings of 32 cents per share on revenue of $5.63 billion. Analysts had expected earnings per share of 49 cents on revenue of $5.80 billion, according to LSEG, formerly known as Refinitiv. Nike — The…
Carey Halio, Goldman Sachs’ head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter. Her new role, effective June 1, encompasses authority over the firm’s more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm’s liquidity, funding and capital. She will…
Check out the companies making the biggest moves in premarket trading: CarMax — Shares sank 9% after the used-car retailer reported an earnings and revenue miss for its fourth quarter. CarMax’s earnings came in at 32 cents per share, versus the 49 cents expected from analysts polled by LSEG. Revenue was $5.63 billion, below the…
Sergio Ermotti, CEO of Swiss banking giant UBS, during the group’s annual shareholders meeting in Zurich on May 2, 2013. Fabrice Coffrini | Afp | Getty Images Switzerland’s tough new banking regulations create a “lose-lose situation” for UBS and may limit its potential to challenge Wall Street giants, according to Beat Wittmann, partner at Zurich-based…
A hot inflation report rattled Wall Street and diminished hopes for the number of rate cuts likely this year, but there are still areas in the market where investors can hide out if price pressures keep reaccelerating. Stocks sold off Wednesday, with the Dow Jones Industrial Average tanking as much as 500 points at one point…
Check out the companies making headlines in midday trading. Deckers Outdoor — Shares lost 6.9% after Truist downgraded the footwear company to hold over concerns that demand for core products is declining, noting softened direct-to-consumer trends for Hoka in February. Cava — Shares jumped 4.4% after Argus upgraded the Mediterranean food chain to buy from…
