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What to Expect in the Week Ahead (GS, JNJ, TSM, and NFLX Earnings; Retail Sales and Housing Starts)
Earnings in the week ahead could be the next catalyst for a broadening market
Financial Stocks Deliver Profits in Q2 Amid Rebound in Investments - Earnings Scorecard
Failed to deliver satisfactory performance to investors, large US banks collectively fell.
The largest banks in the USA that outperformed the large cap have once again been hit by investors for failing to impress them with their financial reports. Wells Fargo & Co, whose net interest income fell below expectations, plummeted 6%, marking the largest daily drop in more than three years. While Citigroup's market revenue exceeded expectations, its stock still fell 1.8%, with its expenses being the focus of attention. JPMorgan's performance and stable financial forecasts failed to excite traders, as it also fell 1.2%. These three banks all ranked among the top 20 decliners in the S&P 500 Index on Friday, with Wells Fargo & Co being the worst performer on that day, while more than 400 stocks were up in the large cap.
Lots of Earnings, Price of Stamps Increasing: What to Watch
Express News | Eaton Vance Municipal Bond Fund Announces Measurement Period for Initial Conditional Tender Offer
Market Chatter: Smithfield Foods Selects Banks for Potential $1 Billion US IPO
Smithfield Foods is working with Goldman Sachs (GS), Bank of America (BAC), and Morgan Stanley (MS) to arrange a US initial public offering, Bloomberg reported Friday, citing people familiar with
Are You Looking for a High-Growth Dividend Stock?
Express News | Banks Plan €6 Billion Debt Financing for Sanofi Consumer Sale- Bloomberg News
Banks Including Goldman Sachs, Morgan Stanley Lining Up $6.5 Billion Debt Financing for Sanofi Consumer Sale, Bloomberg Reports
11:13 AM EDT, 07/12/2024 (MT Newswires) -- Banks Including Goldman Sachs, Morgan Stanley Lining Up $6.5 Billion Debt Financing for Sanofi Consumer Sale, Bloomberg ReportsPrice: 481.35, Change: +2.12,
Unpacking the Latest Options Trading Trends in Morgan Stanley
Deep-pocketed investors have adopted a bearish approach towards Morgan Stanley (NYSE:MS), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga
JPMorgan's record profits were boosted by gains related to Visa transactions and investment banking business.
JPMorgan announced record profits due to better-than-expected performance from investment bankers and stock traders, and also booked billions of dollars in gains related to a trade with Visa. Investment banking revenue soared 50%, outpacing analysts' predictions, and the company's stock trading also achieved a 21% increase in revenue. The trade with Visa contributed $7.9 billion to second-quarter profits. Despite rising lending costs, lingering uncertainty from the U.S. election, and geopolitical issues worldwide, more companies are getting back into trading after a long period of calm, allowing investment bankers to profit.
DBS Vickers maintains a "market perform" rating for SD Gold with a target price of HKD 20.2.
Morgan Stanley released a research report maintaining a "Neutral" rating on SD Gold (01787), despite its strong growth in gold sales in the first half of the year resulting in net income growth accelerating from 59% in Q1 to a hold or decline performance in Q2 when gold prices rose. The performance was somewhat inferior, with target price of HKD 20.2. The report stated that the company's profit expectation would reach RMB 1.25 billion to 1.45 billion yuan in the first half of this year, with a year-on-year growth ranging from 42.1% to 64.8%, and the core net income after excluding one-time effects will increase by 45% to 68% year-on-year.
JPMorgan, Citi Kick Off Big Bank Reporting Season As Expectations Remain Muted Amid Economic Headwinds: Q2 Earnings Preview
The second-quarter reporting season kicks off in earnest with earnings reports from the biggest banks, and it remains to be seen if these companies set a positive tempo and reignite the buying
Credit Suisse: Maintain "shareholding" rating for MTR Corporation, target price is 30 Hong Kong dollars.
Morgan Stanley released a research report stating that they have positive expectations for MTR Corporation's (00066) first-half performance, and expect stable earnings growth and dividend payouts to allow MTR to outperform most local developers. They also pointed out that its valuation is attractive, and gave it a "shareholding" rating with a target price of HKD 30. The bank predicts that the company's first-half basic profit will increase by 20% year-on-year to reach HKD 3.8 billion, and that the expected growth in recurring business profit will increase by 18% to HKD 2.9 billion. The interim dividend is expected to remain unchanged at HKD 0.42 per share. MTR is expected to complete four property development projects involving 4,500 residential units in the latter half of this year. Morgan Stanley says,
Express News | Eaton Vance Municipal Bond Fund Announces Final Results of Tender Offer
Big Banks Q2 Earnings Expected to Show Rebounding IB, Soft Loan Growth
The key to the outlook for whether Wall Street's major banks can continue to outperform the large-cap market during the financial reporting season.
The largest US bank stocks outperformed the large caps this year, as investors expect a brighter future for these banks' earnings prospects over the next few quarters. Led by Citigroup, Goldman Sachs and Bank of America, five of the six largest banks in the US beat the S&P 500 index for stock prices in 2024. So far this year, the overall performance of the six major banks compared to the S&P 500 index has also hit its best level since 2021. As these big banks begin to release their second quarter earnings reports one after another on Friday, investors no longer care about the expected decline in their net interest income. Instead, they are looking forward to these banks announcing their investment banking and other revenue.
JPMorgan Chase, Citi and Wells Fargo Earnings to Follow Relative Strength in Their Stocks
By Steve Gelsi U.S.'s largest banks draw investor support as havens from commercial real estate woes JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. report second-quarter earnings on
Morgan Stanley: Deliveroo Rides Past Delivery Hero Amid Potential Free Cash Flow Generation Holdup
Morgan Stanley trimmed its price target for Delivery Hero (DHER.F), giving weightage to its British rival Deliveroo (ROO.L) instead, as over 400 million euros in potential European Commission fines
Costco, Tesla, PepsiCo, Delta, WD-40, and More Stock Market Movers
Costco shares rise after the warehouse retailer says it will be raising its membership fee for the first time since 2017, and Tesla closes higher for the 11th-straight session. PepsiCo and Delta report quarterly earnings before the stock market opens Thursday.