By Manya Saini and Tatiana Bautzer (Reuters) -Citigroup’s profit fell in the first quarter as it spent more on severance payments for laid-off employees and set aside money to refill a government deposit insurance fund. Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said […]
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 […]
Tesla CEO Elon Musk, seen here leaving the Tesla Gigafactory on March 13, 2024 near Gruenheide, Germany, has a key earnings call coming up. – Maja Hitij/Getty Images For all the recent fretting about sticky inflation and interest rates staying high for longer, the S&P 500 sits just 1% shy of its record closing peak, […]
Over the last year, investors have taken a deep interest in artificial intelligence (AI) stocks. As the technology transforms the tech industry, the potential for game-changing productivity gains stoked optimism across the sector. Perhaps no stock embodies this hope better than Palantir (NYSE: PLTR). While the company long relied on AI to power its applications, […]
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters JPMorgan Chase CEO Jamie Dimon warned Friday that multiple challenges, primarily inflation and war, threaten […]
Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon | AFP | Getty Images Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected trading revenue. Here’s what the company reported: Earnings: $1.58 per share, unclear if comparable […]
US stock futures stumbled on Friday as techs lost their winning ways, with investors looking for inspiration in the big bank results rolling in to kick off earnings season. Futures on the tech-heavy Nasdaq 100 (^NDX) slid 0.5%, while S&P 500 (^GSPC) futures shed 0.4%. Contracts on the Dow Jones Industrial Average (^DJI) fell 0.3%. […]
(Bloomberg) — Ruffer LLP, the £22 billion ($27.6 billion) UK-based asset manager, is making its biggest-ever bet on cash as shrinking US liquidity boosts the possibility of a violent market reversal. Most Read from Bloomberg Two-thirds of the money it oversees now sits in cash, a record allocation, according to fund manager Matt Smith. The […]
Profits for JPMorgan Chase (JPM) rose 6% in the first quarter to $13.4 billion, beating Wall Street expectations, even as its boss offered some warnings about the road ahead for the US economy. “Many economic indicators continue to be favorable,” JPMorgan CEO Jamie Dimon said. “However, looking ahead, we remain alert to a number of […]
A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020. Jeenah Moon | Reuters Wells Fargo shares fell Friday after the bank reported first-quarter earnings that showed a decline in interest income. Wells said its net interest income decreased 8% in the quarter, due to the impact of higher interest […]
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 survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.26 cents adjusted vs. $1.11 cents expected […]
The exterior of the Bank of England in the City of London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — The Bank of England on Friday announced a “once in a generation” overhaul of its inflation forecasting following a long-awaited review by former Federal Reserve Chair Ben Bernanke. The review — initiated after criticism of […]
