Morgan Stanley Advisory Revenue Nearly Doubled Offsetting Weakness in Underwriting

Morgan Stanley reported better than expected first quarter earnings before the bell Thursday on stronger-than-expected advisory revenue and equity income trading up 10%. $MS release follow major competitor Goldman Sachs and four of the largest U.S. lenders Wells Fargo, Citigroup and PNC reporting mixed results. Morgan Stanley’s wealth management division continues to drive of consistent results, Morgan Stanley NYSE: MS Reported Before Open Thursday $2.01 Beat $1.91 EPS AND $14.5 Billion Missed $14.56 Billion Forecast in Revenue MS Q1 2022 … Continue reading “Morgan Stanley Advisory Revenue Nearly Doubled Offsetting Weakness in Underwriting”

Wells Fargo Revenue Falls in Consumer, Corporate and Investment Banking

Wells Fargo (NYSE: WFC) kicked off first quarter earnings with the other major money center banks along with America’s largest money center banks this week. WFC’s adjusted profit of 88 cents a share did beat expectations, but revenue missed across all segments. Wells Fargo reminded us of its regulatory issues with a 460 million increase in operating losses primarily driven by customer remediation expenses., Reporting also this week were JPMorgan Chase (JPM) Goldman Sachs (GS), PNC Bank (PNC), Morgan Stanley … Continue reading “Wells Fargo Revenue Falls in Consumer, Corporate and Investment Banking”

Citigroup Earnings Affected by Higher Credit and Russian Exit Costs

Citigroup (NYSE:C) first quarter earnings topped analysts’ estimates even though they saw a 46% drop in profit. C is in the process of exiting its consumer banking business in 13 markets which got complicated with the Russian invasion of the Ukraine. Reporting also this week were JPMorgan Chase (JPM) Goldman Sachs (GS), PNC Bank (PNC), Morgan Stanley MS and Wells Fargo (WFC) along with BlackRock (BLK). The earnings come after U.S. Treasuries ended Wednesday higher for the second consecutive day of solid … Continue reading “Citigroup Earnings Affected by Higher Credit and Russian Exit Costs”

Goldman Sachs Beats Earnings Expectations on Strong Currencies and Commodities Trading Results

Goldman Sachs, America’s largest investment bank reported better than expected first earnings Thursday, driven by bullish results in its FICC global markets trading (fixed-income, currencies, and commodities). FICC helped offset a sharp decline in investment banking revenue. The trading goliath followed five of the largest U.S. banks, JPMorgan Chase (JPM), Citigroup (C), PNC, Morgan Stanley (MS) and Wells Fargo (WFC) reporting mixed results last week. The Giant Squid Delivered Superior Trading Results Goldman Sachs Group Inc NYSE: GS Reported Before … Continue reading “Goldman Sachs Beats Earnings Expectations on Strong Currencies and Commodities Trading Results”

JPMorgan Sets Aside $900 million To Prepare for Economic Turmoil

JPMorgan Chase kicked off first quarter earnings with a profit of $8.28 billion in the first quarter, down from $14.3 billion a year ago. Revenue fell 5% to $30.72 billion, ahead of analyst expectations for $30.59 billion, according to FactSet. $JPM shares fell 3.2% to $127.30 after the release with the stock now down about 20% this year, while the S&P 500 is down 7%. JPMorgan took total credit charges of $1.5 billion. Of the $900 million set aside for … Continue reading “JPMorgan Sets Aside $900 million To Prepare for Economic Turmoil”

BlackRock Profits Rise 20% Despite Lower AUM With Lower Investor Confidence in Markets

BlackRock the world’s largest investment management company kicked off first quarter earnings on Tuesday with the largest money center bank JP Morgan. $BLK reported net income of $1.4 billion, or $9.35 a share, for the first quarter, up 20% from $1.2 billion in the same period a year earlier. The bearishness in the markets lowered the firm’s assets under management to $9.6 trillion. BlackRock Q1 2022 Q1 2022 earnings before the bell; conference call at 8:30 a.m. ET Tuesday Net … Continue reading “BlackRock Profits Rise 20% Despite Lower AUM With Lower Investor Confidence in Markets”

Morgan Stanley Revenue Increased in Wealth Management and Investment Management

Morgan Stanley reported better than expected fourth quarter earnings before the bell Wednesday on stronger-than-expected wealth management and investment banking results. $MS was the last of the big banks to post fourth-quarter results following major competitor Goldman Sachs (GS), and four of the largest U.S. lenders Bank of America (BAC), JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) reporting mixed results. Trading activity has been weak across the board.    Morgan Stanley NYSE: MS Reported Before Open Wednesday $2.01 Beat $1.91 EPS AND $14.5 … Continue reading “Morgan Stanley Revenue Increased in Wealth Management and Investment Management”

Bank of America Loan Balances Growing with Higher Interest Rates Boosting Profits

Bank of America, America’s second largest investment bank reported better than expected fourth earnings Wednesday following three of the largest U.S. lenders, JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) reporting mixed results last week. $BAC posted its second straight quarter of year-over-year positive operating leverage. Rising interest rates has a positive effect on Bank of America earnings and with the 10-year yield rising as the Fed signals tightening. Bank of America Corporation NYSE: BAC Report Earnings Before Open … Continue reading “Bank of America Loan Balances Growing with Higher Interest Rates Boosting Profits”

Goldman Sachs Miss Earnings Expectations First Time in Seven Quarters as Trading Revenue Fell

Goldman Sachs, America’s largest investment bank reported worse than expected fourth earnings Tuesday. It was the first miss by $GS in seven quarters as trading revenue fell and gains on its portfolio of equity investments diminished. The trading goliath followed three of the largest U.S. lenders, JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) reporting mixed results last week. Trading activity has been weak. Both $JPM and $C saw fixed- income trading down double digits at both banks. The … Continue reading “Goldman Sachs Miss Earnings Expectations First Time in Seven Quarters as Trading Revenue Fell”

JPMorgan Investment Banking Division Soared on IPOs and Mergers and Acquisitions

JPMorgan Chase (NYSE: JPM) kicked off fourth quarter earnings beating expectations but faced with higher expenses and slower trading activity. Revenue in the group’s investment banking division grew up 28% from the fourth quarter of 2020 to $3.2 billion, driven by higher fees from mergers and acquisitions and initial public offerings. with the other major money center banks along with the world’s largest investment management company. Wells Fargo (NYSE: WFC) and Citigroup (NYSE:C) are also reporting on Friday along with … Continue reading “JPMorgan Investment Banking Division Soared on IPOs and Mergers and Acquisitions”