Stifel’s Chief Equity Strategist Barry Bannister should be taking a victory lap right now. Since Bannister first unveiled his call for a “summer rally” — a call that landed shortly Read more
Tag: BAC
Goldman Sachs, Bank of America earnings shrink but offer some bright spots
Goldman Sachs Group Inc. and Bank of America Corp. shares rose Monday on stronger-than-expected second-quarter results, while Bank of America Corp. shares fell back on an earnings miss. The two Read more
Bank of America profit falls 33%, shares drop
Bank of America Corp. BAC, +7.04% shares fell 1.9% on Monday after the bank fell short of Wall Street’s profit estimate, but revenue matched the analyst view. Bank of America’s Read more
Citigroup provides upside surprise and stock rally while Wells Fargo misses
Citigroup Inc. on Friday delivered better-than-expected profit and revenue but its earnings still fell along with Wells Fargo & Co. amid more difficult market conditions than a year ago. Citigroup Read more
Earnings expectations for 2023 likely to be revised lower, Goldman warns
The second-quarter earnings season started in earnest on Thursday with disappointing reports from JPMorgan Chase & Co. and Morgan Stanley. On top of missing profit expectations, JPM also announced a Read more
U.S. stocks head for longest losing streak in a month as rate-hike fears, weak bank earnings bite
U.S. stocks fell sharply Thursday as investors braced for the possibility of a full percentage point increase in the Federal Reserve’s benchmark interest rate later this month, while weak megabank Read more
Fed’s top banking regulator Michael Barr confirmed by Senate
The Biden administration saw a key figure of its financial-regulatory team move into place as the Senate confirmed Michael Barr to become the government’s most influential banking regulator. Barr’s confirmation Wednesday as Read more
Bank stocks are super cheap — even with the risk of recession
Big banks will kick off earnings season next week, with JPMorgan Chase first out of the gate before the stock market opens on July 14. What’s striking now is just Read more
Wall Street profit expectations for megabanks cooled only slightly despite deep freeze in stocks
The disconnect between healthy business performance and ailing share prices in 2022 will likely continue for megabanks through this year’s second-quarter earnings season, amid bear market conditions for stocks. Investors Read more