Democratic Sen. Raphael Warnock of Georgia has defeated his Republican challenger Herschel Walker in their closely watched runoff election, according to an Associated Press projection. While Democrats already had maintained their Read more
Tag: XLF
What the midterm elections could mean for the financial sector, energy and more
One poll this month found record interest in the 2022 midterm elections, which are now less than two weeks away. Analysts focused on key sectors are among those paying close Read more
Ally Financial cuts view as it prepares for more auto loans that won’t be repaid
Ally Financial Inc. ALLY, -8.64% on Wednesday missed its third-quarter earnings and revenue targets and issued a weaker-than-expected profit outlook for the coming quarter, as the consumer lender marked down Read more
Goldman beats lowered earnings target and unveils plan to reorganize under three business units
Goldman Sachs Group Inc. shares rose Tuesday as the bank beat lowered profit expectations for the third quarter, while confirming plans to reorganize into three business units in a move Read more
JPMorgan, Citi, Morgan Stanley and Wells Fargo kick off bank earnings season in choppy waters
JP Morgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Morgan Stanley kick off the third-quarter bank earnings reporting season on Friday, Oct. 14 amid some of the Read more
Senators drill down on Zelle reimbursements, inflation and ‘uber-woke’ policies in bank CEO hearing
Democratic senators criticized banks for not serving consumers fairly while Republicans complained about liberal social agendas promoted by the same institutions, as chief executive officers of the country’s seven largest Read more
Jamie Dimon to criticize bank capital requirements and lament impact of inflation on regular Americans in coming Capitol Hill testimony
JPMorgan Chase & Co. CEO Jamie Dimon will focus the bulk of his prepared remarks in Congress this week on the bank’s positive role in the U.S. economy and the Read more
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
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
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