|Bid||0.00 x 1500000|
|Ask||0.00 x 1500000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||329.99|
|Forward Dividend & Yield||9.68 (1.73%)|
|1y Target Est||N/A|
Shares of Alcoa plunge after reporting earnings, while Bank of America retests their prior breakout spot. Here are our top stock trades for Friday:Top Stock Trades for Tomorrow #1: AA
Bitcoin was trading at $7,422.80, inching down 0.05% on the Bitfinex exchange, as of 8:29 AM ET (12:29 GMT). The digital asset was below its Wednesday high of $7,506.10.
The Financial Select SPDR (NYSEARCA:XLF) has broken above its 200-day moving average for the first time since May. The S&P Capital Markets ETF (NYSEARCA:KCE) has jumped over its 50-day moving average, setting up a run at its year-to-date highs. Goldman Sachs (NYSE:GS) shares are testing above their 50-day moving average, threatening to end a persistent downtrend going back to March that resulted in a peak-to-trough decline of 20%. The company reported better-than-expected results this week, driven by an 18.2% rise in investment banking revenue.
If you're a shareholder in Arconic or Bank of America, you started your week feeling pretty good. If you're a Papa John's investor...perhaps not.
Much-maligned General Electric (NYSE:GE) stock is the most heavily traded stock in the market. According to Bloomberg, the average trading volume on GE stock in 2018 is a whopping 80 million shares a day. The spike in trading volume is mostly due to the fact that GE stock is a near-$10 stock (low price) that is widely covered and followed by the media, analysts and investors (lots of catalysts).
The nation’s largest banks — such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley — have operations around the country. Here are other recent stories reported by The Business Journals and other media outlets.
A subtle peace has emerged in Wall Street's long-running broker recruiting wars, Morgan Stanley (MS.N) Chief Executive Officer James Gorman said on Wednesday. Firms like Morgan Stanley have realized they no longer need to depend on poaching employees from rivals to boost revenue, he said, and are focussed instead on earning more from a stable roster of existing brokers. "The amount of recruiting they're doing from each other is very small, and it's small for good reason though," Gorman said on a conference call with analysts to discuss second-quarter results.
A subtle peace has emerged in Wall Street's long-running broker recruiting wars, Morgan Stanley Chief Executive Officer James Gorman said on Wednesday. Firms like Morgan Stanley have realized they no longer need to depend on poaching employees from rivals to boost revenue, he said, and are focused instead on earning more from a stable roster of existing brokers. "The amount of recruiting they're doing from each other is very small, and it's small for good reason though," Gorman said on a conference call with analysts to discuss second-quarter results.
U.S. bank stocks like Bank of America (NYSE:BAC) haven’t had a particularly spectacular 2018. BAC stock, for instance, is up less than 2% so far this year. Earnings are soaring, with earnings per share up 43% in Q2 after a 38% rise in Q1.
Rising uncertainty in markets didn’t stop the biggest U.S. banks from hauling in record revenue from investment banking. Among the big winners were Morgan Stanley and Bank of America Corp., which both handily beat expectations thanks to their investment banking and consumer businesses, respectively. Wells Fargo & Co. was the lone bank to miss analysts’ earnings estimates as its total loans and deposits both dropped.
Unsurprising to most, the financial sector has acted as the backbone of the uptrend that has dominated the financial markets over the past couple of years. This year has not really been kind to the financial sector, which has seemed to have to battle with overhead resistance on each attempted move higher. Taking a look at the chart of the Financial Select Sector SPDR Fund, you can see that the dotted trendline has acted as a consistent guide for the bears in determining placement.
If you were a bit concerned about Bank of America (NYSE:BAC) before earnings, you weren’t alone. Off the price chart, back-winds of corporate tax cuts, conducive interest rates and favorable regulatory environment coupled with internal cost-cutting measures manifested themselves into a better-than-expected profit report for Bank of America. On the price chart, the situation looks equally supportive for shareholders to line their own coffers following an important and lengthy technical incarceration from which BAC bulls can break out of.
Jim Cramer sits down with Bank of America Chairman and CEO Brian Moynihan, who outlines the U.S. economy's growth drivers.
Info tech shares could be in for a rough day after disappointing results from Netflix, Inc. (NASDAQ: NFLX). The NFLX sneeze appears to have given all the “FAANG” stocks a cold, as high-flying shares gave back ground in pre-market trading and the tech-heavy Nasdaq (COMP) dropped 1 percent. Over in the financial sector, Goldman Sachs Group Inc. (NYSE: GS) became the latest bank to handily beat Wall Street analysts’ estimates.
Among the financial institutions that earned public notoriety during the banking crisis of 2007-08, few landed on their feet quite like Goldman Sachs ( GS). Goldman Sachs became a net borrower and an emblem of everything diabolical about high finance. On July 17, 2018, Goldman Sachs named David Solomon as the new chief executive officer (CEO), succeeding Lloyd Blankfein, who has run the company since 2006.
The following is the unofficial transcript of a CNBC EXCLUSIVE interview with Bank of America Chairman and CEO Brian Moynihan and CNBC’s Jim Cramer on CNBC’s “Mad Money w/ Jim Cramer” (M-F 6PM – 7PM) today, Monday, July 16th. JIM CRAMER: Has this market finally decided to give the banks the credit they deserve? Bank of America delivered a terrific a six-cent earnings beat off of a 57-cent basis with higher than expected revenue, and robust loan growth, rising deposits, aggressive cost cuts, and superb digitization.
U.S. stock futures are trading lower this morning. Wall Street is being pressured by Netflix (NASDAQ:NFLX), which missed subscriber and revenue expectations after the close yesterday. Additionally, traders remain cautious ahead of Federal Reserve Chairman Jerome Powell’s testimony before the Senate Banking Committee later this morning.
The most noteworthy losers were Ford Motor (NYSE:F) and Chesapeake Energy (NYSE:CHK), which are noteworthy names, but not exactly heavy hitters. Most observers don’t recognize that on the first trading day of this week, decliners outnumbered advancers, and down volume outpaced up volume. To that end, Tuesday’s top trading prospects are stock charts of Walt Disney (NYSE:DIS), Eastman Chemical (NYSE:EMN) and Sealed Air (NYSE:SEE).
The "Mad Money" host also hears from the CEOs of Bank of America and Enbridge. In the lightning round, Cramer argues that one retailer's stock is too low and worth buying. CNBC's Jim Cramer wants investors to have the guts to go against the grain when it comes to investing, especially when it comes to the oil sector.