[ad_1] Goldman Sachs on Monday posted first-quarter profit and revenue that topped analysts’ expectations, fueled by a surge in trading and investment banking revenue. Here’s what the company reported: Earnings: $11.58 per share, vs. $8.56 expected, according to LSEG Revenue: $14.21 billion, vs. $12.92 billion expected The bank said profit …
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JPMorgan Chase tops estimates on better-than-expected credit costs, trading revenue
[ad_1] 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 on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading …
Read More »Stock futures are little changed as Wall Street awaits bank earnings: Live updates
[ad_1] Traders work on the floor of the New York Stock Exchange (NYSE) on April 10, 2024 in New York City. As new inflation data released today showed a continued rise, stocks fell across the board with the Dow falling over 400 points. Spencer Platt | Getty Images U.S. stock …
Read More »A key inflation reading is due out Tuesday morning. Here’s what to expect
[ad_1] Shoppers are seen in a Kroger supermarket in Atlanta on Oct. 14, 2022. Elijah Nouvelage | AFP | Getty Images Rising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve’s decision to take a go-slow approach with interest rate reductions. Economists expect that …
Read More »Companies — profitable or not — make 2024 the year of cost cuts
[ad_1] Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that …
Read More »Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
[ad_1] Pedestrians pass a JPMorgan Chase bank branch in New York. Michael Nagle | Bloomberg | Getty Images The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the …
Read More »Wall Street made bold calls on 4 of our stocks this week. Here’s where we stand
[ad_1] Wall Street analysts revealed bold predictions on four portfolio stocks this week, as investors digested the latest inflation data and December earnings season kicked off. Here’s a summary of each report, along with the Club’s updated take on each. Morgan Stanley Wall Street’s take: HSBC cut Morgan Stanley’s rating …
Read More »Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
[ad_1] Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the …
Read More »Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul
[ad_1] Jane Fraser, Citi, at WEF, Davos, Jan. 17, 2023. Adam Galica | CNBC Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price. About 20,000 employees will be let go over the “medium term,” New York-based Citigroup …
Read More »JPMorgan Chase says profit falls after regulatory fee from regional banking rescues
[ad_1] Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase reported fourth-quarter earnings before the opening …
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