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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
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.
Financials Dominate in Q2 as Wall Street Slides Amidst Concerns on Tech - Earnings Scorecard
Berkshire Hathaway Sells Bank of America Stock Worth $1.5 Billion
Berkshire Hathaway sold about $1.5 billion of Bank of America stock in recent days, dropping its stake in the banking giant to a still sizable $42.9 billion, according to a filing late Friday.
JPMorgan Chase Insiders Sell US$225m Of Stock, Possibly Signalling Caution
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