|Bid||30.99 x 1000|
|Ask||31.02 x 309400|
|Day's Range||30.91 - 31.10|
|52 Week Range||25.08 - 31.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||0.90%|
|Beta (5Y Monthly)||1.15|
|Expense Ratio (net)||0.13%|
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.
Stifel Head of Institutional Equity Strategy Barry Bannister joins the On The Move panel to discuss the best cyclical sectors to invest in as the federal reserve continues to hold on rate cuts.
Sevens Report Founder Tom Essaye and Invesco Investment Strategist Tim Horsburgh join Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss the latest market action on The First Trade.
Q4 earnings season gets into full swing the week of January 13th, as big banks like JPMorgan Chase, Citigroup and Wells Fargo report their earnings. Orion Advisor Solutions Chief Investment Officer Rusty Vanneman joins On the Move to discuss.
Shares of State Street Corp. rallied 3.3% toward a 15-month high in premarket trading Friday, after the trust bank reported fourth-quarter profit and revenue that rose above expectations, while expenses fell. Net income increased to $704 million, or $1.73 a share, from $437 million, or $1.03 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.70. Total revenue grew 0.8% to $3.05 billion, above the FactSet consensus of $2.92 billion, as net interest income fell 8.8% to $636 million but beat expectations of $618.3 million. Fee revenue rose 2%, as higher servicing, management and software and processing fees offset lower currency trading services and securities finance revenue. Expenses declined 8.8% to $2.27 billion, as headcount declined 3% due primarily to productivity savings. The stock, which is on track to open at the highest level seen during regular-session hours since October 2018, has soared 35.9% over the past three months through Thursday, while the SPDR Financial Select Sector ETF has gained 10.3% and the S&P 500 has advanced 10.6%.
Shares of Charles Schwab Corp. lost 0.8% in premarket trading Thursday, after the discount broker reported fourth-quarter profit that fell below expectations. Net income fell to $852 million, or 62 cents a share, from $935 million, or 65 cents a share, in the year-ago period. The results include an expense related to pending acquisitions of 1 cent per share. The FactSet consensus for earnings per share was 64 cents. Revenue fell 2% to $2.61 billion, matching the FactSet consensus, as net interest revenue declined 1.9% to $1.60 billion. Asset management and administration fees revenue rose 12% to $845 million, just shy of the FactSet consensus of $846 million, while trading revenue dropped 58% to $86 million but beat expectations of $78 million. Schwab caused a stir in the discount broker industry during the fourth quarter, when it dropped commissions on U.S. stocks, ETF and options, then announced a deal to buy rival TD Ameritrade Holding Corp. in a $26 billion deal. Schwab's stock has soared 20.8% over the past three months through Wednesday, while the SPDR Financial Select Sector ETF has gained 9.5% and the Dow Jones Industrial Average has advanced 7.5%.
Shares of Morgan Stanley surged 2.5% toward a 20-month high in premarket trading Thursday, after the investment bank and broker reported fourth-quarter profit and revenue that rose well above expectations. Net income increased to $2.90 billion, or $1.30 a share, from $1.53 billion, or 80 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.02. Total revenue grew 27% to $10.86 billion, above the FactSet consensus of $9.71 billion. Institutional securities revenue rose 32% to $5.05 billion, beating the FactSet consensus of $4.46 billion. Within trading, equity sales and trading revenue slipped 0.5% to $1.92 billion, just shy of the FactSet consensus $1.93 billion, while fixed income revenue more than doubled (up 126%) to $1.27 billion, beating expectations of $859.0 million. Investment banking revenue rose 11% to $1.58 billion to top expectations of $1.52 billion. The stock has rallied 23.7% over the past three months through Wednesday, while the SPDR Financial Select Sector ETF has gained 9.5% and the S&P 500 has advanced 10.0%.
Shares of Bank of America Corp. rose 0.7% in premarket trading Wednesday, after the bank reported fourth-quarter earnings that topped expectations. Net income was $6.75 billion, or 74 cents a share, compared with $7.04 billion, or 70 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 68 cents. Total revenue slipped 1.4% to $22.35 billion, from $22.68 billion, but was above the FactSet consensus of $22.22 billion. Net interest income declined 2.9% to $12.14 billion, topping expectations of $12.07 billion. Consumer banking revenue fell 4% to $9.5 billion, while combined credit/debit card spend increased 6%. Global markets revenue rose 6% to $3.4 billion, driven by the sales and trading business. Fixed income, currency and commodities revenue rose 25% to $1.8 billion, which particular improvement in mortgages, while equities revenue declined 4% to $1.0 billion given lower client activity in derivatives. The stock has surged 18.8% over the past three months through Tuesday, while the SPDR Financial Select Sector ETF has gained 9.8% and the S&P 500 has advanced 9.6%.
Shares of Bank of America Corp. rallied 1.1% in active afternoon trading Tuesday, ahead of the bank's fourth-quarter earnings report due out before the next session's opening bell. Trading volume was over 47.3 million shares, enough to make the stock the most actively traded on major U.S. exchanges. Analysts surveyed by FactSet expect, on average, earnings per share of 68 cents and revenue of $22.22 billion and net interest income (NII) of $12.07 billion. The company has beat profit expectations the past 18 quarters, according to FactSet. Over the same time, BofA has beat revenue expectations 11 times and NII estimates 9 times. On Tuesday, J.P. Morgan Chase & Co. and Citigroup Inc. beat profit and revenue expectations, while Wells Fargo & Co. missed on both. Bank of America's stock has soared 21.6% over the past three months, while the SPDR Financial Select Sector ETF has rallied 11.8% and the S&P 500 has gained 10.9%.
Shares of Citigroup Inc. rose 1.2% in premarket trading Tuesday, after the bank reported fourth-quarter profit and revenue that topped expectations, as strength in its institutional clients group business offset lower-than-expected consumer banking revenue. Net income rose to $4.98 billion, or $2.15 a share, from $4.31 billion, or $1.64 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.81. Revenue rose 7% to $18.38 billion, above the FactSet consensus of $17.90 billion. Consumer banking revenue increased 5% to $8.46 billion, below the FactSet consensus of $8.93 billion, while institutional clients revenue grew 12% to $9.47 billion to beat expectations of $8.79 billion. Equity markets revenue fell 23% to $516 million and fixed income revenue grew 49% to $2.90 billion. "With increased revenues and disciplined expense management, we had positive operating leverage, even as we continued to make significant investments in the franchise," said Chief Executive Michael Corbat. The stock has climbed 14.8% over the past three months through Monday, while the SPDR Financial Select Sector ETF has advanced 11.6% and the S&P 500 has rallied 10.9%.
Shares of J.P. Morgan Chase & Co. rose 1.5% in premarket trading Tuesday, after the banking giant reported fourth-quarter earnings that beat expectations, helped by a "strong" consumer, stabilization in global economic growth and the resolution of some trade issues. Net income rose to $8.52 billion, or $2.57 a share, from $7.07 billion, or $1.98 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.35. Total net revenue on a reported basis increased to $28.3 billion from $26.1 billion, above the FactSet consensus of $27.7 billion. Net interest income fell 2% to $14.3 billion, but beat the FactSet consensus of $14.10 billion. Consumer & community banking revenue grew 2.5% to $14.04 billion, above the FactSet consensus of $14.10 billion, while corporate and investment bank revenue rose 31% to $9.47 billion to beat expectations of $8.15 billion. Markets and security services revenue grew 55% to $6.14 billion. "The U.S. consumer continues to be in a strong position and we see the benefits of this across our consumer businesses," said Chief Executive Jamie Dimon. The stock has climbed 17.8% over the past three months through Monday, while the SPDR Financial Select Sector ETF has advanced 11.6% and the Dow Jones Industrial Average has gained 7.9%.
Shares of J.P. Morgan Chase & Co. rose 0.5% and of Citigroup Inc. gained 1.2% in afternoon trading Monday, while Wells Fargo & Co. declined 0.8%, a day before the banks kick off the fourth-quarter earnings reporting season. The three banks are scheduled to report results before the open. Wells Fargo missed third-quarter earnings expectations, to snap a three-quarter streak of beats; J.P. Morgan has beat profit expectations the past three quarters, and for 18 of the past 19 quarters; and Citigroup beat expectations for the past 19 quarters. Over the past three months, shares of J.P. Morgan have rallied 17.7%, Citigroup have tacked on 14.3% and Wells Fargo have gained 5.8%, while the SPDR Financial Select Sector ETF has climbed 11.5% and the S&P 500 has advanced 10.6%.
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: ...
The fourth-quarter earnings season is set to kickstart next week, with the financial sector among the early reporters. As the economy and markets turn volatile amid mounting geopolitical tensions, here's ...
Discover three exchange-traded funds (ETFs) that investors seeking to emulate the investment strategies of Warren Buffett may wish to consider.
The financial sector is comprised of companies that offer services broadly aimed at providing loans, insurance, and money management services for individuals and firms. That list of services includes retail and commercial banking, accounting, insurance, asset management, credit cards, and brokerages, among other things.
Shares of Bank of America Corp. fell 1.7% in morning trading Friday, underperforming its financial peers, after BMO Research analyst James Fotheringham downgraded the moneycenter bank (BAC) to market perform from outperform, citing "valuation exclusively." The SPDR Financial Select Sector ETF fell 1.1%, with 60 of 66 equity components losing ground. "[F]ollowing a valuation re-rating of U.S. large-cap banks over the past three months (which had been long-overdue, in our view), BAC shares now trade at a premium to their long-term historical average," Fotheringham wrote in a note to clients. The stock has soared 25.9% over the past three months, while the financial sector ETF (XLF) has gained 13.9% and the S&P 500 has advanced 11.2%. Fotheringham said in contract to BAC, shares of Citigroup Inc. and Morgan Stanley "still trade at a discount," and encouraged investors to stick with the discounted stocks during the current rally.