|Bid||29.96 x 317700|
|Ask||29.99 x 313300|
|Day's Range||29.76 - 30.06|
|52 Week Range||25.08 - 31.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-1.29%|
|Beta (5Y Monthly)||1.15|
|Expense Ratio (net)||0.13%|
Investors should not be panic-stricken by Coronavirus outbreak as the impact is less likely to last long. Stay invested in these top ETFs.
Financial stocks sank Monday, as worries over the impact of the fast-spreading coronavirus out of China on economic growth sent Treasury yields to multi-month lows. The SPDR Financial Select Sector ETF slumped 1.8% toward a 7-week low. Among the more active components in premarket trading, shares of Bank of America Corp. slid 2.7%, Citigroup Inc. shed 2.5%, J.P. Morgan Chase & Co. dropped 2.2%, Wells Fargo & Co. gave up 1.9% and Berkshire Hathaway Inc. declined 1.6%. Meanwhile, futures for the Dow Jones Industrial Average were down 430 points, or 1.5%. The yield on the 10-year Treasury note fell 6.3 basis points to a 3 1/2-month low of 1.618%. Lower long-term interest rates could hurt bank profits, as the spread between what they could earn on longer-term liabilities, such as loans, which are funded by shorter-term assets.
Shares of American Express Co. surged 1.8% toward a record high in premarket trading Friday, after the credit card and travel services company reported a fourth-quarter profit that beat expectations, while revenue was in line. Net income fell to $1.69 billion, or $2.03 a share, from $2.01 billion, or $2.32 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $2.03 from $1.74, above the FactSet consensus of $2.01. Total revenue, net of interest expense, increased 9% to $11.37 billion, matching the FactSet consensus, amid continued growth in fees, spend and lend revenue. Consumer services revenue rose 10% to $6.2 billion, commercial services revenue grew 7% to $3.5 billion and merchant and network services revenue increased 3% to $1.7 billion. The company said it added 11.5 million new proprietary cards in 2019, with nearly 70% of new card members choosing fee-based products. The stock has rallied 12.9% over the past three months through Thursday, while the SPDR Financial Select Sector ETF has gained 8.0% and the Dow Jones Industrial Average has advanced 8.8%.
In an election year, some market segments and sector-related ETFs may perform poorly while others stand out as investors react to policy momentum among the presidential candidates. According to Dow Jones Market Data going back to 1928, the healthcare sector returned an average 7.9% and the technology sector returned an average 5.0% during the election year, compared to the S&P 500's 9.1% return. The healthcare sector is especially under the spotlight this time around as Democratic candidates propose major changes to how Americans receive health insurance and President Donald Trump eyed drug prices.
Technically speaking, the U.S. benchmarks are off to a strong 2020 start, rising amid bullish market rotation, writes Michael Ashbaugh.
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: ...
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