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Express News | Bank of America Shares Down 1.3% Premarket as Berkshire Sells Co's Stock Worth $1.48 Bln Last Week
Wells Fargo & Co: Large banks are ready to embrace the long-awaited turning point and are bullish on Citigroup (C.US) and other banks.
Wells Fargo & Co stated that the earnings report for the second quarter of large banks showed that the industry is at a turning point from negative growth in revenue, operational leverage, and eps growth to positive growth.
Big Banks Poised for Multi-year Inflection Point, Wells Fargo's Mike Mayo Says
Big banks' Q2 earnings support the case that the sector at a "multi-year inflection point from negative to positive revenue growth, operating leverage, and EPS growth," says Wells Fargo analyst Mike Mayo.
What to Expect in the Week Ahead (Google and Tesla Earnings; GDP and PCE Data)
This week, investors should keep an eye on earnings reports from several key players, including Google and Tesla. Key economic data to watch for will include the release of the first estimate of second-quarter gross domestic product and the Federal Reserve's preferred inflation measure for June.
What signal? Warren Buffett has once again reduced his shareholding in Bank of America, cashing in nearly $1.5 billion.
After four years, he took action.
Financials Dominate in Q2 as Wall Street Slides Amidst Concerns on Tech - Earnings Scorecard
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