|Bid||46.07 x 1100|
|Ask||46.15 x 2200|
|Day's Range||45.86 - 46.96|
|52 Week Range||40.52 - 54.27|
|Beta (5Y Monthly)||1.12|
|PE Ratio (TTM)||10.24|
|Earnings Date||Apr 14, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||1.24 (2.65%)|
|Ex-Dividend Date||Jan 22, 2020|
|1y Target Est||53.94|
The Bank of New York Mellon Corporation (NYSE:BK) shares fell 8.6% to US$46.18 in the week since its latest full-year...
BARRON'S TAKE (STT) stock is surging this morning after beating Wall Street estimates. Shares of State Street (ticker: STT) are up more than 4% Friday morning. The stock is up 19% from Jan. 17, 2019 through yesterday’s close, compared with the S&P 500’s 29% rise, including dividends, over the same period.
Citizens Financial's (CFG) Q4 earnings reflect capital strength and higher fee income, partially offset by escalating expenses and provisions.
U.S. stocks on Thursday notched solid gains, with a late-session flourish deeper into record territory for good measure, one day after President Trump signed the first phase of a U.S.-China trade pact and on the day the Senate ratified a revised trade treaty between the U.S. Mexico and Canada. The Dow Jones Industrial Average rose 267 points, or 0.9%, to close around 29,298, the S&P 500 index gained 28 points, or 0.8% to end the session at roughly 3,317 and the Nasdaq Composite index rallied about 98 points, or 1.1% to close at 9,357. All three benchmarks finished at all-time highs. Investors have cheered the details of the U.S.-China trade pact, which includes promises by the Chinese to buy $200 billion in incremental exports from the U.S., and sentiment was also BUOYED by a new North American trade treaty, formerly known as Nafta, set to reach the president's desk. Economic data were also encouraging, with the government reporting that retail sales rose 0.3% in December, in line with expectations, and new applications for jobless benefits fell by 10,000 to near 50-year lows in the week ended Jan. 11. The Philly Fed manufacturing index also rose above expectations, while a survey of home builders showed confidence in the industry near 20-year highs. In company news, Morgan Stanley shares rose 7.1% after beating expectations for fourth-quarter earnings and revenue, while shares of Bank of New York Mellon Corp. tumbled 7.7% as investors balked at a fourth-quarter revenue miss and projections of rising costs in 2020.
Technology investment is a big priority for BNY Mellon this year. Interim CEO Todd Gibbons told analysts during the international investments firm’s fourth-quarter earnings call on Thursday that it expects the tech spend "to exceed the $3 billion spent in 2019,” itself a 10% increase from 2018. BNY Mellon did not break out severance in its earnings report, nor did it disclose the number of jobs cut.
The Zacks Analyst Blog Highlights: Estee Lauder, Bank of New York ??? Mellon, Canadian Pacific Railway, McKesson and Ameriprise Financial
The Bank of New York Mellon Corporation (BK) delivered earnings and revenue surprises of 2.02% and 1.77%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Investing.com - Bank of NY Mellon reported on Thursday fourth quarter earnings that missed analysts' expectations and revenue that fell short of expectations.
Big U.S. banks that reported results earlier this week also highlighted the hit from lower interest rates after the U.S. Federal Reserve cut borrowing costs three times last year against the backdrop of the prolonged U.S.-China trade war. "Although we continue to be negatively impacted by lower rates, a flat yield curve and low foreign exchange volatility, we remain intensely focused on carefully managing costs," interim Chief Executive Officer Todd Gibbons said in a statement. Interest revenue at BNY Mellon fell 8% to $815 million in the fourth quarter, while non-interest expenses declined 1%.
The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors authorized dividends on its common and preferred stock as follows:
(Bloomberg) -- U.S. stocks closed at record highs as investors assessed the details of the partial trade deal with China. Treasuries gained and the dollar weakened.The benchmark S&P 500 finished short of an earlier all-time intraday high after President Donald Trump presided over a signing ceremony with Chinese officials. The deal commits China to do more to crack down on the theft of American technology and corporate secrets by its companies and state entities, while outlining a $200 billion spending spree to try to close its trade imbalance with the U.S. Soybeans slumped after China signaled purchases would be demand-based.“While it does not appear that the ‘phase one’ deal addresses many of the structural issues that started the trade spat, it does mitigate the uncertainty that ongoing trade tensions present, namely the threat of new tariffs at a moment’s notice,” said Jason Pride, chief investment officer of private wealth at Glenmede Trust Co. in Philadelphia.The S&P 500 set an intraday record for the sixth consecutive trading session, largely ignoring disappointing quarterly results from Goldman Sachs Group Inc. and Bank of America Corp. The Nasdaq Composite and Dow Jones Industrial Average indexes also set fresh highs. U.S. markets received an added boost earlier after White House economic adviser Larry Kudlow promoted more tax cuts.Commodity markets got some numbers on China’s commitments to buy agricultural products, but doubts remain. Currency traders assessed the section that reaffirmed existing G-20 commitments, and investors in tech stocks pored over details on intellectual property concessions.“It’s anti-climatic,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “It was in there and people knew this for a while now, it’s about what you thought.”Meanwhile, the Stoxx Europe 600 Index finished little changed, while equities across most of Asia fell.Russia’s currency weakened as much as 0.6% against the dollar. President Vladimir Putin replaced his long-serving prime minister and called for sweeping constitutional changes, fueling speculation that the Russian leader is moving to extend his grip on power beyond the end of his term in 2024.Oil futures drifted, with West Texas Intermediate trading around $58 a barrel. Gold nudged higher.Here are some events to watch for this week:It’s earnings season for the biggest American financial institutions, with Morgan Stanley and Bank of New York Mellon Corp. still to come.The Federal Reserve’s Beige Book report on regional economic conditions is due on Wednesday.China GDP, along with key monthly data for December, come on Friday.A final reading on the euro-zone’s December inflation is also due on Friday.There are some of the main moves in markets:\--With assistance from Claire Ballentine.To contact the reporters on this story: Vildana Hajric in New York at firstname.lastname@example.org;Sarah Ponczek in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Dave LiedtkaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While lower rates are likely to have hurt BNY Mellon's (BK) net interest revenues in the fourth quarter of 2019, asset growth is expected to have positively impacted performance fees.
Major U.S. banks likely had a decent Q4 on upswing in client activities, aiding trading revenues, and upbeat underwriting business, partly muted by soft loan growth and interest-rate declines.
Financial sector ETF investors will be closely watching the market ahead as the earnings season will kicks off in full force next week, with big Wall Street banks teeing up. J.P. Morgan Chase & Co (NYSE: ...
Morhan Stanley reported fiscal fourth-quarter earnings that beat on the top and bottom lines. The bank's investment management division posted $1.36 billion in revenue, nearly 100% growth from a year ago. Yahoo Finance’s Brian Cheung joins Seana Smith on The Ticker to discuss.
Morgan Stanley is out with its latest earnings report. Yahoo Finance's Brian Cheung breaks down the details on On the Move.