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☆ Stocks making the biggest moves before the bell: JPMorgan, BlackRock, Globe Life and more
▼ + stars: | 2024-04-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

JPMorgan — The bank slipped 2.4% despite beating expectations on both lines and reporting lower credit costs than anticipated. Wells Fargo — Wells Fargo shares vacillated after reporting first-quarter earnings , but were recently up less than 1%. The bank topped Wall Street's expectations on the top and bottom lines, but reported a decline in net interest income. Citigroup — Shares rose more than 2% after the bank posted $21.1 billion in revenue , which was higher than analysts' expectations of $20.4 billion, according to LSEG. Globe Life — The insurer jumped about 9% in Friday's extended trading, rebounding after tumbling more than 50% in the prior session.

Persons: Jamie Dimon, LSEG, Thursday's, Raymond James, —, Macheel, Samantha Subin, Sarah Min, Michelle Fox Organizations: JPMorgan, Citigroup —, BlackRock, Blackrock, Research, Paramount, Skydance, Wolfe Research, Corteva, Citi Locations: Wells, LSEG

☆ Stocks making the biggest moves midday: Globe Life, JPMorgan, Zoetis, Wells Fargo and more
▼ + stars: | 2024-04-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Wells Fargo — Shares of the bank inched lower by less than 1% after it reported a decline in net interest income during the first quarter. Wells Fargo did beat analyst expectations for its first-quarter adjusted earnings and revenue. Globe Life — The life insurance stock bounced 10% after plummeting more than 50% during Thursday's session. The firm said shares were not worth purchasing ahead of the first quarter earnings report, given the weakness expected. Ciena — Shares slipped nearly 3% after Citi initiated coverage of the software company with a sell rating.

Persons: Jamie Dimon, Wells, LSEG, Corteva, Librela, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel, Pia Singh Organizations: JPMorgan, Street, Wells Fargo, BlackRock —, BlackRock, Fuzzy Panda Research, Paramount, Skydance Media, Citi, Wall Street, Solensia, Arista Networks, Rosenblatt

☆ A big win for Wells Fargo — plus what's dragging down Google parent Alphabet
▼ + stars: | 2024-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

One more down: Shares of Wells Fargo hit a new 52-week high after the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practices. This is the sixth consent order that regulators have terminated since 2019. Every consent order that is resolved brings the bank closer to having the Federal Reserve lift the asset cap that's been holding it back since February 2018. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Linde, Wells Fargo, Charlie Scharf, there's, GOOGL, It's, Jim Cramer's, Jim, Krisztian Bocsi Organizations: CNBC, Air Products, Chemicals, Bank of America, Energy, Cisco Systems, Wells, Currency, Federal Reserve, Microsoft, Google, Materials, University of Michigan, PPI, Jim Cramer's Charitable, Shell Plc, BASF, Linde AG, Bloomberg, Getty Locations: We're, Bank, Wells, Coinbase, Leuna, Germany

☆ Stocks making the biggest moves midday: Cisco Systems, Twilio, Super Micro Computer and more
▼ + stars: | 2024-02-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The technology name added 8.5% after Bank of America said shares could rise to $1,040, a Wall Street high. For the recent quarter, Applovin reported earnings of 49 cents per share and $953 million in revenue. However, the company beat first-quarter earnings and revenue estimates. JFrog — The software development stock skyrocketed 25% after topping Wall Street's fourth-quarter estimates. That topped FactSet estimates 12 cents per share in earnings on $93 million in revenue.

Persons: Twilio, Applovin, Deere, Tripadvisor, Albemarle —, — Coinbase, —, JFrog, Penn, Jesse Pound, Hakyung Kim, Alex Harring, Michelle Fox, Brian Evans, Christina Cheddar Berk Organizations: Cisco Systems, Cisco, LSEG, Bank of America, Wells, Currency, Deere, Albemarle, JPMorgan, Chrysler, Fiat, Penn Entertainment, ESPN Bet Locations: North Carolina

☆ We're raising our Morgan Stanley price target despite the stock's post-earnings decline
▼ + stars: | 2024-01-16 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Morgan Stanley on Tuesday morning reported an adjusted earnings-per-share beat. MS 1Y mountain Morgan Stanley 1 year Shares of Morgan Stanley were on a five-session losing streak with Tuesday's post-earnings 5% decline. However, Morgan Stanley — and for that matter, Wells Fargo — saw their stocks surge into the end of 2023. Asset management revenue increased 6% from last year, reflecting higher asset levels and the impact of positive fee-based asset flows. Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023.

Persons: Morgan Stanley, Wells Fargo, Morgan Stanley's, Morgan Stanley —, Ted Pick, Morgan Staley, ROTCE, it's, Morgan, Morgan Stanley repurchased, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, Bloomberg, Federal Deposit Insurance Corporation, Silicon Valley Bank, Morgan, Wealth Management, Investment Banking, FDIC, Institutional Securities, Investment, Equity, Morgan Stanley's Wealth Management, Investment Management, Asset, Capital, CNBC, Bloomberg Television, Getty Locations: Silicon, Wells Fargo —, U.S, New York

☆ Stock futures are lower to start shortened trading week: Live updates
▼ + stars: | 2024-01-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City. Stock futures are lower Monday night as Wall Street awaits further data and bank earnings that will provide a better glimpse into the state of the American consumer. S&P 500 futures dipped more than 0.1%, while Nasdaq 100 futures shed 0.2%. Another batch of bank earnings will be out during this holiday-shortened week, providing further clues about consumer health and data on credit card payments and delinquencies. Charles Schwab and M&T Bank , as well as several regional banks, are also slated to release their earnings this week.

Persons: FactSet, Goldman Sachs, Morgan Stanley, Charles Schwab, Wells Fargo — Organizations: New York Stock Exchange, Stock, Futures, Dow Jones Industrial, Nasdaq, PNC Financial Services, T Bank, JPMorgan, Citigroup, Dow Locations: New York City, Friday's

☆ Stocks making the biggest moves midday: Boeing, Dollar General, JPMorgan Chase, Netflix and more
▼ + stars: | 2023-10-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

On Friday, Gordon Haskett upgraded the stock to buy , saying Dollar General's latest leadership change could help stabilize the company. Wells Fargo — The bank stock gained close to 3% after Wells Fargo posted third-quarter results that beat expectations. Citigroup — Shares of the New York-based bank rose 1.4% after posting its third-quarter results . Citigroup reported $1.63 in earnings per share, or $1.52 per share, excluding the effect of divestitures. Post Holdings — Shares of the packaged food company gained 2% after JPMorgan initiated coverage with an overweight rating on shares.

Persons: Todd Vasos, Gordon Haskett, JPMorgan Chase, Wells Fargo, LSEG, JD.com, Morgan Stanley, UnitedHealth, CNBC's Hakyung Kim, Samantha Subin, Pia Singh, Tanaya Macheel, Jesse Pound Organizations: Boeing —, Boeing, JPMorgan, Revenue, LSEG, Citigroup —, Citigroup, PNC Financial, PNC, Oil, EOG, ConocoPhillips, Exxon Mobil, Progressive, Post Holdings, Netflix, Wolfe Research, Dow, United Food, Commercial Workers International Union, Hormel Locations: York, China

☆ Stocks making the biggest moves premarket: JPMorgan, Wells Fargo, Citigroup, Dollar General and more
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell: UnitedHealth — The largest health insurer by revenue rose more than 1% after beating analysts' third-quarter expectations. BlackRock — BlackRock fell by 1.8% premarket after missing third-quarter revenue forecasts. Wells Fargo — Wells Fargo added nearly 2% after third-quarter earnings and revenue topped expectations . Citigroup — Citigroup was higher by 2% after beating third-quarter revenue expectations. The Jane Fraser-led bank reported revenue of $20.14 billion, more than the consensus estimate of $19.31 billion from LSEG.

Persons: LSEG, BlackRock —, Gordon Haskett, Wells, Jane Fraser, Morgan Stanley, Tanaya Macheel Organizations: Dow Jones, BlackRock, BlackRock — BlackRock, Blackrock, PNC Financial Services Group, Pittsburgh, PNC, Revenue, LSEG, JPMorgan Chase &, Citigroup — Citigroup, Post Holdings, JPMorgan Locations: LSEG, Wells, Louis

☆ 'Tremendous opportunity': Oakmark's Bill Nygren says it's a good time to buy these 3 cheap stocks
▼ + stars: | 2023-10-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

It's a good time to buy cheap stocks in some sectors right now, according to Oakmark Funds' Bill Nygren. "What that means to us is the hunting ground of low P/E stocks provides more opportunity than it typically does," he said, adding that the company's portfolio includes many single-digit P/E stocks. Nygren added that he's buying up stocks in high-quality companies in financial services, insurance, energy and some consumer durables — mostly paying single-digit P/E multiples for them. Nygren, who joined Oakmark Funds in 1983, manages the $18 billion Oakmark Fund with Michael Nicolas and Robert Bierig. Energy Nygren said they own "a lot of stocks where there is risk, where investors are worried about the futures of the [companies]" — but because of that, the entry level price is very low.

Persons: Bill Nygren, what's, Nygren, CNBC's, It's, Michael Nicolas, Robert Bierig, Russell, Banks Nygren, he's, Wells, they've, that's, it's, Energy Nygren Organizations: Oakmark Funds, Energy Locations: Wells Fargo, Capital, U.S

☆ Here's why Jim Cramer says wait to buy this AI software winner
▼ + stars: | 2023-09-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Shares of Adobe entered Tuesday's session up 11.5% since the Aug. 18 close, and now two Wall Street firms — BMO Capital Markets and Wells Fargo — hiked their price targets on Adobe stock, implying further upside ahead. Investors who are itching to buy Adobe (ADBE) should wait until the software maker reports quarterly results later this week, CNBC's Jim Cramer said Tuesday. "I think if you don't own Adobe by now, you might just want to wait." If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "I think it's a really good company," added Cramer, who called Adobe the No.

Persons: Wells Fargo —, CNBC's Jim Cramer, Cramer, Jim Cramer's, — Organizations: Adobe, BMO Capital Markets, Wells, Oracle, Trust, CNBC, Club

☆ Stocks making the biggest moves premarket: Alphabet, Microsoft, PacWest, Snap and more
▼ + stars: | 2023-07-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Alphabet — The Google parent popped more than 6% after topping Wall Street's second-quarter earnings expectations, fueled by growth in its cloud-computing segment. Microsoft, however, did beat Wall Street's estimates, reporting earnings of $2.69 per share on $56.19 billion in revenue. Snap topped second-quarter expectations, reporting a narrower-than-expected loss of 2 cent a share on $1.07 billion in revenue. Wells Fargo also said that its board approved a previously announced dividend hike to 35 cents from 30 cents per share. The company topped earnings but fell short on revenue expectations, reporting adjusted earnings per share of 63 cents on $29.92 billion in revenue.

Persons: Ruth Porat, Refinitiv, Wells Fargo, popper, —, Sarah Min, Yun Li, Hakyung Kim, Jesse Pound Organizations: Google, Microsoft, Boeing, Texas, — Texas, Teladoc Health, Dish, Bloomberg News, Fisher, Pacific Locations: Mountain View , California, Banc, California

☆ Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap, Teladoc and more
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The company posted earnings of $1.44 per share on $74.6 billion of revenue. Analysts called for earnings of $1.34 per share, adjusted, and revenue of $72.82 billion, per Refinitiv. Still, the company posted earnings of $2.69 per share, compared to the $2.55 per share anticipated by analysts, per Refinitiv. Wells Fargo — Shares of the bank jumped 3% in extended trading after Wells Fargo announced a $30 billion share buyback program. Teladoc said it lost 40 cents per share in its second quarter, beating analysts' estimates for a 41 cent loss per share, per Refinitiv.

Persons: Ruth Porat, Wells, Robert Half —, Refinitiv, Teladoc Organizations: Google, Revenue, Microsoft, Texas, — Texas, FactSet . Texas, NASA, Management Locations: Mountain View , California, United States

☆ Bank of America Reports Big Profit Jump on Higher Interest Rates
▼ + stars: | 2023-07-18 | by ( Stacy Cowley | More About Stacy Cowley | ) www.nytimes.com time to read: +3 min

The NumbersBank of America reported a profit of $7.4 billion last quarter, up nearly 20 percent from the year before. Revenue grew more than 10 percent, to $25.2 billion in the second quarter. Customer spending on credit and debit cards rose 3 percent, to $226 billion, the bank said. Notably, the lender’s investment-banking business rebounded in the second quarter, after a sharp drop in deal-making had cast a chill over the industry. Last week, Bank of America was fined $150 million by two federal regulators for charging its customers improper fees and denying them promised sign-up bonuses.

Persons: Mr, Borthwick, Takeaways Brian Moynihan, “, ”, “ That’s, Alastair Borthwick, “ We’ve, that’s, Wells Fargo, Banks, Goldman Sachs, They’ll Organizations: Bank of America, Revenue, Citigroup, JPMorgan Chase, Federal Deposit Insurance Corporation, Western Alliance Locations: U.S

☆ Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more
▼ + stars: | 2023-07-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as it benefited from higher interest rates and better-than-expected bond trading. Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The Wall Street firm also said AT&T's exposure to cable may limit the upside for shares. Alcoa — The aluminum stock fell 4.9% following a downgrade to neutral from overweight by JPMorgan. Eli Lilly — The pharmaceutical stock rose 3% in midday trading.

Persons: JPMorgan Chase, Wells, UnitedHealth, Eli Lilly, Yun Li, Alex Harring, Sarah Min, Michelle Fox Organizations: JPMorgan, JPMorgan Chase —, Elevance, Citigroup —, JetBlue Airways, American Airlines — JetBlue Airways, American Airlines, Microsoft, UBS, Blackrock —, Alcoa, Progressive Locations: Wells, York

☆ Banks are all-in on AI, but there's one problem: They can't hold on to the talent. Here's why.
▼ + stars: | 2023-05-23 | by ( Paige Hagy | Bianca Chan | ) www.businessinsider.com time to read: +9 min

Big banks are hiring a lot of AI talent, but are having a tough time holding on to it. The difficulty banks have retaining AI talent, however, isn't due to poaching among peers. Banks can lure in AI talentIt's true that big banks have the wherewithal to hire and capitalize on top AI talent and are attractive at the outset to those looking for a new shop. "The AI talent coming to the financial-services industry is almost like supporting the tech talent, if you will," Hirsch said. Big Tech has its own problems right nowTo be sure, banks are snagging from Big Tech too.

☆ A Timeline of How the Banking Crisis Has Unfolded
▼ + stars: | 2023-05-01 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +9 min

March 9Gregory Becker, the chief executive of Silicon Valley Bank, urged venture capital firms to remain calm on a conference call. March 10In the biggest bank failure since the 2008 financial crisis, Silicon Valley Bank collapsed after a run on deposits . Regional bank stocks plunged after the unexpected seizure of Silicon Valley Bank and Signature Bank , with shares of First Republic tumbling 60 percent. The Treasury secretary believed the actions by the private sector would help underscore confidence in the stability of the banking system. April 28The Fed released a report faulting itself for failing to “take forceful enough action” ahead of Silicon Valley Bank’s collapse.

☆ Stocks making the biggest moves before the bell: JPMorgan Chase, Wells Fargo, PNC, Lucid, Express & more
▼ + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

JPMorgan Chase reported revenue of $39.34 billion, beating the $36.19 billion estimates for analyst polled by Refinitiv. Wells Fargo — The bank added 3.1% after beating Wall Street expectations when reporting earnings. The company reported revenue at $20.73 billion, which is higher than the $20.08 expected by Wall Street. PNC — Shares rose 1.3% after the bank reported first-quarter earnings. UnitedHealth – UnitedHealth shares rose slightly after the health insurance provider beat Wall Street's estimates on the top and bottom lines and lifted its profit outlook for 2023.

☆ S&P cuts First Republic deeper into junk, says $30 billion infusion may not solve problems
▼ + stars: | 2023-03-19 | by ( ) www.cnbc.com time to read: +2 min

A First Republic Bank branch is pictured in Midtown Manhattan in New York City, March 13, 2023. First Republic Bank saw its credit ratings downgraded deeper into junk status by S&P Global, which said the lender's recent $30 billion deposit infusion from 11 big banks may not solve its liquidity problems. S&P cut First Republic's credit rating three notches to "B-plus" from "BB-plus," and warned that another downgrade is possible. Sunday's downgrade by S&P was the second in four days for First Republic, which previously held an "A-minus" credit rating. In a statement following the S&P downgrade, First Republic said the new deposits and cash on hand leave it "well positioned to manage short-term deposit activity.

☆ Big banks to the rescue
▼ + stars: | 2023-03-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Goldman Sachs' decision to charge employees for coffee might not be that outrageous after all! The largest US banks — headlined by Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo — just pledged a total of $30 billion in deposits to First Republic Bank. As detailed in a release announcing the news, the 11 banks, which also included Goldman Sachs and Morgan Stanley, believe the move "demonstrates their overall commitment to helping banks serve their customers and communities. I can't imagine the big banks looking to pull the rug out from First Republic four months from now, but this money was a deposit, not a donation. Read more about how big banks came to the rescue of First Republic with $30 billion in deposits.

☆ Stocks making the biggest moves premarket: Credit Suisse, Lennar, PacWest & more
▼ + stars: | 2023-03-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Axel Lehmann, chairman at Credit Suisse Group AG, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, on Friday, Oct. 14, 2022. Credit Suisse — Shares of Credit Suisse were down 21.5% after the firm's biggest backer, Saudi National Bank, said it won't provide it with further financial help. Credit Suisse and several other European banks, including Societe Generale , Italy's Monte dei Paschi and UniCredit , were halted from trading as prices plummeted. Bank of America , Morgan Stanley , Wells Fargo — Shares of larger financials were in lower early Wednesday as the Credit Suisse tumble sent ripples across the global banking sector. Bank of America lost 2.9%, Morgan Stanley dropped 3.2% and Wells Fargo declined by nearly 4.2%.

☆ Stocks making the biggest moves midday: BuzzFeed, First Republic, Meta and more
▼ + stars: | 2023-03-14 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

(Photo by Justin Sullivan/Getty Images)BuzzFeed — Share of the internet media company lost about 10% on a weak first-quarter revenue outlook. Buzzfeed expects first-quarter revenue of $61-$67 million, compared to expectations of $83.6 million, according to FactSet. Meta Platforms — Meta shares gained 6% after CEO Mark Zuckerberg said Tuesday the social media company plans to cut 10,000 employees. First Republic , PacWest Bancorp, Western Alliance Bancorp , Comerica — Regional banks rallied sharply Tuesday after being hit hard last Friday and Monday. Shares of San Francisco-based First Republic rose about 50%, while PacWest jumped more than 60% and Western Alliance Bancorp gained more than 40%.

☆ As the market digests the banking crisis, Morgan Stanley is a buy. But investors should sit tight on Wells Fargo
▼ + stars: | 2023-03-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Unlike Wells Fargo, Morgan Stanley's business model doesn't really depend on collecting deposits and issuing loans, which is the bread and butter of conventional banking. "We think we own the best with Morgan Stanley and Wells Fargo," Jim said. A compression of NIM can put downward pressure on overall earnings at a bank like Wells Fargo. For Wells Fargo and other consumer-oriented banks, investors aren't concerned that startup cash burn will cause deposit levels to decline. Pedestrians pass a Wells Fargo bank branch in New York, U.S., on Thursday, Jan. 13, 2022.

☆ Premarket stocks: Jerome Powell's testimony sent markets reeling. That may be a good thing
▼ + stars: | 2023-03-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. The S&P 500 fell 1.5%, the Dow dropped 575 points, or 1.7%, and the tech-heavy Nasdaq composite ended 1.3% lower. After Powell’s testimony, market expectations for a half-percentage point rate hike spiked. If inflation fails to continue falling, he said, the Fed will keep trying to cool things down by raising rates. Even if Powell was sure that January’s economic data was a fluke, he still wants to maintain the Fed’s credibility.

☆ Stocks making the biggest moves in the premarket: JPMorgan, Virgin Galactic, Tesla and more
▼ + stars: | 2023-01-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in the premarket:JPMorgan — The bank reported fourth-quarter earnings and revenue before the bell that topped Wall Street expectations. JPMorgan slid nearly 3% in permarket trading. Wells Fargo — The bank slid nearly 4% after reporting shrinking profits, weighted down by a recent settlement and the need to build-up reserves. Salesforce — The software company slid 1.4% in the premarket after being downgraded by Atlantic Equities to neutral from overweight. Deutsche Bank downgraded the shares Friday.

☆ Stocks making the biggest moves premarket: CarMax, Salesforce, Coinbase and more
▼ + stars: | 2023-01-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

CarMax fell 53% in 2022 but has risen 18% since its disappointing quarterly results in December. Coinbase shares dropped 86% in 2022 as macro conditions and scandal dragged down the crypto market. Tesla — Tesla shares rose 2% after the EV maker registered with the state of Texas to expand its electric vehicle factory in Austin this year. Levi Strauss & Co — Shares of the clothing company slipped 2.2% after Citi downgraded the stock to neutral from buy. Shares were higher by less than 1% premarket.

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