Aktien in diesem Artikel
indizes in diesem Artikel
Chase (JPM) reported better-than-expected second-quarter earnings early Tuesday, helped by an income tax boost. Goldman Sachs (GS) and Wells Fargo (WFC) also beat views. JPMorgan stock and Goldman Sachs
stock rose while Wells Fargo
stock fell.XGoldman Sachs and JPMorgan Chase are both Dow Jones
components.JPMorgan EarningsEstimates: Wall Street expected JPMorgan earnings per share to rise 9% to $2.50. Revenue was seen increasing 2% to $28.42 billion.Results: JPMorgan earnings came in at $2.82 a share, helped by a one-time gain of 23 cents from the resolution of tax audits, on revenue of $29.566 billion. Consumer banking revenue rose 11% to $13.8 billion. Fixed income trading revenue was down 3%, and equity trading fell 12%. Commercial banking revenue fell 5% to $2.2 billion. Wealth management revenue was flat at $3.56 billion.Outlook: Management trimmed its net interest income forecast for the year to $57.5 billion from $58 billion.JPMorgan stock fell slightly at the open but reversed higher to close up 1.1% at 115.12 on the stock market today. JPMorgan, like other bank stocks, has largely moved in line with the S&P 500. But its relative strength line has dipped over the past two months.Possible Fed rate cuts have raised concerns about the impact on banks' net interest margins. The U.S.-China trade battle has also pushed traders to the sidelines. On Monday, Citigroup (C) easily topped forecasts but reported weak trading revenue.Goldman Sachs EarningsEstimates: Analysts expected Goldman Sachs earnings per share of $4.82, down 19%. Revenue was also forecast to fall, to $8.66 billion, an 8% drop.Results: Goldman Sachs earnings came in at $5.81 a share on revenue of $9.46 billion. Investment banking revenue fell 9% to $1.86 billion. Fixed income trading revenue dropped 13% to $1.47 billion, while equities trading revenue rose 6% to $2 billion. Investing and lending revenue grew 16% to $2.53 billion. Investment management revenue slipped 14% to $1.59 billion.Goldman Sachs also hiked its quarterly dividend to $1.25 per from 85 cents.Goldman Sachs stock rose 1.9% to finish at 215.52 Tuesday.Wells Fargo EarningsEstimates: Analysts expect Wells Fargo earnings per share to rise 7% to $1.16. Revenue is seen slipping 3.5% to $20.79 billion.Results: EPS of $1.30 on revenue of $21.58 billion. Mortgage, credit card and auto loans increased. Total average deposits were up $6.9 billion from the prior quarter, led by retail banking gains.Wells Fargo stock fell 3% to 45.30.YOU MIGHT ALSO LIKE:Dow Stocks Report Earnings; Facebook Libra
Unites D.C.: FuturesJPMorgan Kills Off Millennial-Focused, No-Fee Banking App After Just A YearThese Bank Stocks Will Give Investors A Massive Payday; Citigroup Breaks OutBanks And Financial Stocks: Latest News And AnalysisIBD Stock Of The Day Has New Buy Point After Earnings DoubleThe post JPMorgan, Goldman Sachs, Wells Fargo Earnings All Beat Views appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily