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☆ After a well-received quarter, Cramer explains why he thinks Netflix can 'rock on higher'
▼ + stars: | 2024-10-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

After a siding with the bulls in the run-up to Netflix 's latest earnings report, CNBC's Jim Cramer explained why the quarter made him more optimistic about the company's future, saying he was impressed by management's outlook and commentary about content. Netflix beat Wall Street's expectations for earnings, revenue and paid membership growth when it posted its report Thursday evening. The streaming giant's shares popped 11% Friday morning and maintained those gains through close. Cramer was encouraged by management's guidance for the current quarter and 2025, as the company expects to keep up double-digit revenue growth some investors feared would be hard to maintain. He also liked Sarandos' positive read on how AI will impact business.

Persons: CNBC's Jim Cramer, maul, Cramer, Ted Sarandos, Sarandos, Emily, I'm Organizations: Netflix, National Football League Locations: Paris

☆ Fed rate cuts can boost this trade that's a seasonal winner, Tom Lee says
▼ + stars: | 2024-10-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Tom Lee, Fundstrat's head of research, said in an Oct. 17 note to clients that the firm is opening a six-month "tactical overweight" on the homebuilding sector. The six-month timeline counts on a strong seasonal pattern where homebuilders tend to rally from late October to late April. While the reason for the historical trend is not clear, the fact that it currently coincides with a rate-cutting cycle for the Federal Reserve should lend homebuilders' stocks even more support, Lee said. "The Fed is cutting interest rates, at a time when U.S. housing has been in a recession. The sector exchange-traded funds highlighted by Lee include the iShares U.S. Home Construction ETF (ITB) , the SPDR S & P Homebuilders ETF (XHB) and the Invesco Building & Construction ETF (PKB) .

Persons: Tom Lee, Fundstrat's, Lee Organizations: Federal, Home, Construction Locations: U.S

☆ Netflix earnings beat expectations. Here's what analysts are saying
▼ + stars: | 2024-10-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Analysts are getting even more bullish on Netflix following its earnings beat for the third quarter . Here is what other firms are saying: Pivotal Research keeps buy rating on stock The firm raised its price target to $925, a Street high. Bernstein reiterates its market perform rating The firm increased its price target to $780 from $625. Bank of America reiterates its buy rating The bank increased its price target to $800 from $740. 3Q results were generally ahead (OI 5% higher) while commentary pointed to sustained double-digit revenue growth and margin expansion in 2025."

Persons: Doug Anmuth, Anmuth, Morgan Stanley, Benjamin Swinburne, Bernstein, Goldman Sachs, NFLX Organizations: Netflix, JPMorgan, WWE, NFL, of America, Gaming, UBS, 3Q

☆ Stocks making the biggest moves premarket: American Express, Procter & Gamble, Netflix, CVS Health and more
▼ + stars: | 2024-10-18 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The household goods maker posted $21.74 billion in revenue while analysts polled by LSEG had estimated $21.91 billion. WD-40 — The maintenance product maker's shares fell 4% after a disappointing fiscal fourth-quarter earnings report. Despite posting a top-line beat of $823 million in revenue versus LSEG analysts' estimates for $808 million, net interest income fell 3% in the third-quarter. Revenue of $9.16 billion fell below the $9.25 billion LSEG consensus forecast. Ally Financial – The digital bank stock fell nearly 1% despite earnings beating analysts' estimates in the third quarter.

Persons: Gamble, LSEG, David Joyner, Karen Lynch, B.Riley, SLB, Schlumberger, FactSet, — CNBC's Pia Singh, Sarah Min, Jesse Pound, Michelle Fox Organizations: Procter, Netflix, CVS, FactSet, Western Alliance Bancorp, Apple, Bloomberg, Crown Holdings, Holdings, Comerica Locations: China

☆ Stock market today: Indexes trade near record highs after a string of solid earnings reports
▼ + stars: | 2024-10-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks were mostly higher on Friday amid a string of solid third-quarter earnings reports. Netflix and Intuitive Surgical beat Wall Street estimates, boosting their stock prices to new record highs. 82% of S&P 500 companies that have reported earnings so far have surpassed Wall Street's profit estimates. AdvertisementUS stocks traded higher on Friday, with all three major averages at or near record highs as investors digested third-quarter earnings results. Intuitive Surgical also reported solid third-quarter earnings that beat Wall Street estimates for revenues and profits.

Persons: — Organizations: Netflix, Service, Wall

☆ Wall Street is trying to make AI search sexy
▼ + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.

Persons: Goldman Sachs, Blackstone, —, Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI

☆ Here's what Wall Street money managers are doing to prepare their portfolios for their 3 biggest election concerns
▼ + stars: | 2024-10-18 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

As election day draws near, 400 Wall Street money managers identified their top concerns. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Policy initiatives could have a significant impact on the economy, especially on issues concerning inflation, the housing market, employment, and international trade. Investors can benefit from both parties: Republicans would likely pass investor-friendly tax and energy policy, while Democrats would pass more favorable US-China and trade policy. AdvertisementHere's what Wall Street is worried about this election cycle and how top money managers are preparing their portfolios for November.

Persons: —, Kamala Harris, Donald Trump, PGIM, Wall, Kara Murphy, –, isn't, Murphy, Trump, Harris, we've Organizations: Service, Republican, White House, Congress, Investors, Kestra Investment Management, Social Security, Biden, Research, Senate, Democrat Locations: China, Latin America, Southeast Asia, deglobalization

☆ Stocks making the biggest moves midday: Netflix, Apple, CVS Health, Lamb Weston, U.S. Cellular and more
▼ + stars: | 2024-10-18 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Separately, CVS issued third-quarter adjusted earnings guidance between $1.05 and $1.10 per share, far weaker than the FactSet consensus estimate of $1.69 a share. MGP Ingredients — Shares tumbled 26% after MGP Ingredients, a distilled spirits producer, issued preliminary third-quarter earnings and revenue guidance that missed expectations. Earnings of $1.23 per share missed the FactSet consensus estimate of $1.34 in earnings per share. Comerica reported $1.33 in earnings per share, compared to $1.17 per share expected by analysts, according to FactSet. Still, adjusted earnings of 89 cents per share beat the expected earnings per share of 88 cents.

Persons: Lamb Weston —, Jana Partners, Lamb Weston, David Joyner, Karen Lynch, LSEG, LSEG ., Riley, Ally, FactSet, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Netflix, U.S . Cellular, Telephone, Data Systems, U.S, Cellular, Verizon Communications, CVS, MGP, American, Apple —, Bloomberg, Counterpoint Research, Western, Western Alliance, LSEG, LSEG . Fifth Third, Fifth Third Bancorp, Comerica, Holdings Locations: U.S, China

☆ The S&P 500 once again briefly rode Nvidia's coattails to all-time highs
▼ + stars: | 2024-10-17 | by ( Alex Harring | Kavitha Shastry | ) www.cnbc.com time to read: +2 min

Nvidia 's rally to a record intraday high on Thursday briefly helped lift the S & P 500 into uncharted waters, leaving investors to wonder what's next for the artificial intelligence trade. The S & P 500 broad market index also touched a record high during the day, mostly driven by strong semiconductor and financial stocks. Nvidia's stock, which scored an all-time closing high on Monday, has added 1.6% so far this week. NVDA 1D mountain Nvidia, 1-day chart Martin likes the AI trade looking ahead, especially as year-end — typically a strong time for the market — nears. And then they'll try and take some profits, and then they'll try and buy it back a little cheaper, and then it'll go back up again."

Persons: what's, Jensen, Tom Martin, Martin, they'll, it'll Organizations: Nvidia, Taiwan Semiconductor, Investments Locations: Taiwan, China

☆ Bank bosses aren't worried about lower interest rates — and even see some upside
▼ + stars: | 2024-10-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Wall Street's biggest banks face a less profitable lending environment as interest rates fall. Bank bosses shrugged off those concerns this week and pointed to several benefits of lower rates. AdvertisementLending threatens to become far less lucrative for Wall Street's biggest banks as interest rates fall. But he said the Fed's jumbo rate cut might have sparked more activity in debt capital markets recently. AdvertisementCEO David Solomon said the Fed's first rate cut has raised hopes of avoiding a US recession, which could translate into more economic activity.

Persons: shrugged, —, Alistair Borthwick, Banks, Jane Fraser, Fraser, Mark Mason, Wells, Charles Scharf, Wells Fargo, Morgan Stanley, Sharon Leshaya, Citi's Fraser, Jeremy Barnum, Barnum, Goldman Sachs, David Solomon, BoA, Goldman Organizations: Bank, Service, Wall, Federal Reserve, Bank of America, Citigroup, Citi Locations: refi

☆ Dow futures are little changed after blue-chip average closes at all-time high: Live updates
▼ + stars: | 2024-10-17 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures sat near flat Thursday night after the blue-chip average finished the preceding session at a record closing level. S&P 500 futures and Nasdaq 100 futures were rose 0.1% and 0.2%, respectively. Those moves come after a rally in Travelers propelled the Dow to finish Thursday at an all-time closing high. The broad S&P 500 inched lower despite notching a fresh intraday high during the session, while the technology-heavy Nasdaq Composite concluded modestly higher. That would mark the longest weekly winning streaks in 2024 for both the Dow and S&P 500.

Persons: Dow, They'll, Raphael Bostic, Neel Kashkari, Liz Young Thomas Organizations: Dow Jones Industrial, Nasdaq, Netflix, Travelers, Dow, Atlanta Federal Reserve, Minneapolis Fed, American Express, Procter, Gamble

☆ Stock market today: Indexes mixed as traders look to recover from chip sell-off
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector. Morgan Stanley beat estimates on strong investment banking activity. AdvertisementUS stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector and waited for another round of corporate earnings reports. The Nasdaq was down slightly as chip stocks struggled to recover from Tuesday's sell-off. Chip stocks stumbled in the previous session after ASML cut its sales guidance for 2025.

Persons: Morgan Stanley, —, Wall Organizations: Service, Dow Jones, Nasdaq, AMD, Nvidia

☆ An incoming 'M&A supercycle' wouldn't just be a win for dealmakers
▼ + stars: | 2024-10-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, Goldman Sachs' earnings result might be a sign of the long-awaited return of M&A . The big storyM&A for allWin McNamee/Getty ImagesDon't look now, but M&A might finally be coming back. Goldman Sachs, Wall Street's perennial M&A king, smashed analysts' third-quarter expectations , notching $3 billion in profits. One analyst took things a step further, floating the idea of an "M&A supercycle" once the money that's been sitting on the sidelines finally gets put to work.

Persons: —, Goldman Sachs, Win McNamee, Insider's Reed Alexander, David Solomon, that's, Jenny Chang, Rodriguez, Mariana Bazo, Tyler Le, TSMC, Biden, Donald Trump, Elon Musk, TK, Alex Brandon Elon Musk, Kamala Harris, Alain Tascan, Jeet Shroff, Shroff, Morgan Stanley, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, LaGuardia Airport, Getty, BI, Monetary Fund, Chartered, Apple, Bloomberg, Google, Trump, PAC, America PAC, AP, Trump PAC, Epic, Discover Financial Services Locations: Midtown Manhattan, China, lockstep, New York, London

☆ Ulta Beauty shares fall as company sees 'headwinds' in beauty industry
▼ + stars: | 2024-10-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

An Ulta Beauty store in New York, US, on Monday, Aug. 19, 2024. Ulta Beauty shares slumped on Wednesday morning, as the company said it sees "headwinds" and tougher competition in the beauty industry. As it hosted its investor day near its Chicago headquarters on Wednesday, the specialty retailer stuck by its forecast for this fiscal year. In his opening remarks at the investor day, CEO Dave Kimbell said this year "has been more challenging than planned." The investor day will include presentations on Ulta's strategy and a question-and-answer session with investors.

Persons: Ulta, Dave Kimbell, Kimbell Locations: New York, Chicago

☆ Stocks making the biggest moves after hours: Lucid, Discover Financial, PPG Industries, Kinder Morgan and more
▼ + stars: | 2024-10-16 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

The financial services company posted third-quarter results that surpassed expectations, with earnings of $3.69 per share on $4.45 billion of revenue. Alcoa posted third-quarter adjusted earnings of 57 cents per share, topping analysts' estimate for 28 cents a share, per LSEG. Kinder Morgan reported adjusted earnings per share of 25 cents and revenue of $3.70 billion. Management also announced it expects to fall below budget on adjusted earnings before interest, taxes, depreciation and amortization and adjusted earnings per share by 2% and 4%, respectively. PPG Industries posted adjusted earnings of $2.13 per share on $4.58 billion in revenue.

Persons: LSEG, Lucid, Kinder Morgan —, Kinder Morgan, Equifax, —, Darla Mercado Organizations: Discover, CSX, Alcoa —, Alcoa, Revenue, Third Investment Company, Public Investment Fund, Management, PPG, Green, Dynamics, Steel Dynamics

☆ Jane Street, the trading firm where SBF started his career, offers interns a salary equivalent to as much as $250,000 a year
▼ + stars: | 2024-10-16 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Jane Street is one of Wall Street's most lucrative trading firms. Some internships at the firm offer a base salary equivalent to $250,000 annually. AdvertisementLucrative trading firm Jane Street is one of Wall Street's leading market-makers. In a sign of its success, Jane Street currently has 58 job vacancies in its New York office. AdvertisementA quantitative researcher internship, which runs from May to August, offers a base salary of $250,000 annually.

Persons: Jane, —, Jane Street, Jane Street's, Sam Bankman, Caroline Ellison, Fried, Donald Trump's, Glassdoor, Goldman Sach, JP Morgan Organizations: Service, Bloomberg, Financial Times, World Trade Center, Alameda Research, Jane, JPMorgan, Barclays, FT Locations: New York, Hudson, Alameda

☆ Stocks making the biggest moves premarket: Morgan Stanley, Cisco, ASML and more
▼ + stars: | 2024-10-16 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Cisco Systems — The networking technology stock added nearly 2% on the heels of a Citi upgrade to buy from neutral. The firm's earnings came in at $1.88 per share, versus the $1.58 expected by a LSEG analyst poll. Revenue was $15.38 billion versus the $14.41 billion consensus estimate. United also announced a $1.5 billion share buyback, its first since before the pandemic. J.B Hunt Transport Services — Shares jumped more than 7% after the company's third-quarter results topped expectations.

Persons: Novocure, Morgan Stanley —, accidently, J.B, Hunt, LSEG, — CNBC's Sean Conlon, Alex Harring, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Cisco Systems, Citi, U.S . Food, Drug Administration, Revenue, United Airlines, United, Hunt, — Locations: U.S

☆ Netflix has won the streaming wars but Wall Street still has big questions about its future
▼ + stars: | 2024-10-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

The US and Canada drive 70% of Netflix's revenue growth and are crucial for its future ad expansion. AdvertisementBy now, it's become a common refrain in Hollywood: Netflix has won the streaming wars. Amazon threw a wrench into Netflix's advertising ambitions by steamrolling into the market earlier this year. With subscriber growth potential limited in the US because Netflix is already quite saturated in the market, Netflix needs to ramp up ad revenue. While Netflix's ad tier growth is steadily adding inventory, those tech deals will take a couple of years to ramp up.

Persons: —, it's, Nielsen, hasn't, steamrolling, It's, Tyson, Paul, Netflix execs, Amazon, What's, Dan Salmon, NewStreet, Lowell Singer, There's, Piper Sandler's Organizations: Wall Street, Netflix, Service, Amazon, Barclays, WWE, LightShed Partners, Citibank, Epic Games, Disney, Piper Locations: Canada

☆ Stocks making the biggest moves midday: United Airlines, Morgan Stanley, ASML, Prologis and more
▼ + stars: | 2024-10-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter.

Persons: United, Morgan Stanley, Novocure, J.B, Hunt, LSEG, Aspen Aerogels, FactSet, Prologis, Hamid Moghadam, —, Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh, Michelle Fox Organizations: Food and Drug Administration, United Airlines, Revenue, Cisco Systems, Citi, Food, ASML, J.B Hunt, Aspen, of Energy, U.S . Bancorp, General Motors, Lithium Americas Corp Locations: Dutch, U.S

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom: Of course, we love the company's AI business — both its custom silicon solutions for companies such as Alphabet and its networking chips that help stitch data centers together. Stanley Black & Decker: Jim said that this stock is the "most significant beneficiary" from lower rates in the entire portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, there's, Lisa Su, Wells, Salesforce, CrowdStrike, it's, we've, Walt Disney, —, Eaton, we're, Kamala Harris, Harris, Jim's, Linde, Eli Lilly, Lilly isn't, That's, Morgan Stanley, Goldman Sachs, D.A, Satya Nadella's, Palo, cybersecurity, Brian Niccol, We're, Stanley Black, Decker, TJX, Charlie Scharf, Wells Fargo's, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple Intelligence, Abbott Laboratories, Devices, AMD, Nvidia, Broadcom, Apple, Federal Reserve, Costco Wholesale, Costco, Coterra, DuPont, Disney, ESPN, GE Healthcare, Democratic, Biden, Honeywell, Linde, Adobe, Microsoft, Davidson, Palo Alto Networks, Constellation Brands, Modelo, Corona, TJX, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: Wells Fargo, BlackRock, Dover, Eaton, China, U.S, Chipotle, New York City

Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. Walgreens announced the closures as part of its fiscal fourth-quarter and full-year earnings, which beat Wall Street's expectations. In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Both Walgreens and rival CVS are facing a difficult operating environment, fighting to be profitable as consumers shift their habits. In 2021, CVS said it would close about 900 stores, or about 10% of its U.S. locations, from 2022 to 2024.

Persons: Tim Wentworth, ” Wentworth, ” Neil Saunders Organizations: Walgreens, CVS, Rite Aid, Pharmacy, CNBC Locations: U.S

☆ Goldman Sachs beats Wall Street forecasts as investment-banking fees surge 20%
▼ + stars: | 2024-10-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Goldman Sachs reported third-quarter earnings on Tuesday that beat analysts' expectations. The investment bank posted $12.7 billion of revenue and almost $3 billion of net earnings. AdvertisementGoldman Sachs reported third-quarter earnings on Tuesday that beat Wall Street's expectations, sending its stock up as much as 3% in premarket trading. It also cut its operating expenses by 8%, fueling a 45% surge in net income to $2.99 billion. The fee bonanza reflected a sharp increase in net revenues from debt underwriting amid strong leveraged finance and investment-grade activity, and higher net revenues in equity underwriting driven by secondary offerings.

Persons: Goldman Sachs, —, David Solomon, Solomon, Brian Moynihan Organizations: Service, Barclays, General Motors, Bank of America's, Bank of America

☆ Apple hits an all-time high as new smartphone data sides with the bulls in a sea of negativity
▼ + stars: | 2024-10-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Shares hit an all-time high Tuesday despite a chorus of recent concerns from Wall Street analysts about demand for the new artificial intelligence-enabled iPhone 16. Apple Intelligence is the company's new suite of generative artificial intelligence tools due out later this month. Available for preorder now, the tablet has a processor capable of supporting Apple Intelligence. Big picture The IDC data comes as many on Wall Street express skepticism around sales for the new iPhone 16 lineup. Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California.

Persons: Morgan Stanley, Apple's, Popal, swoon, Jim Cramer, Jim, Jim Cramer's, Tim Cook, Justin Sullivan Organizations: Apple, Wall Street, International Data Corporation, IDC, Samsung, Apple Intelligence, JPMorgan, Barclays, Bank of America, Club, Nvidia, U.S, CNBC Locations: U.S, Cupertino , California

☆ This under-the-radar oil producer is a buy and can rally more than 34%, TD Cowen says
▼ + stars: | 2024-10-15 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Investors should take hold of SM Energy ahead of its earnings report, according to TD Cowen. Analyst Gabe Daoud upgraded his rating on the stock to buy from hold. Heading into its third-quarter results at the end of the month, Daoud expects the company to beat Wall Street's expectations. "SM remains a technical leader in the Midland Basin with '23 oil productivity ranking first among operators and '24 not far behind," Daoud said. On top of that, he noted that return-of-capital initiatives, such as dividend increases or share buybacks specifically, could drive more upside.

Persons: TD Cowen, Gabe Daoud, Daoud Organizations: SM Energy, bbl, Midland &, SM Locations: Klondike, Texas –, Uinta, Utah, Midland, Midland & South Texas

☆ Wells Fargo CEO calls consumers 'extremely resilient'
▼ + stars: | 2024-10-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Wells Fargo CEO Charlie Scharf gave CNBC's Jim Cramer a positive read on the consumer landscape. "We don't sit here and say risks don't exist — But what we see looks pretty, pretty strong." Wells Fargo's most recent quarter topped Wall Street's expectations, and shares surged more than 4% last Friday just after the report. By Tuesday's close, Wells Fargo was up 1.40%. While Scharf said Wells Fargo does care about its quarterly results, he suggested the market can obsess over reports more than management does.

Persons: Wells, Charlie Scharf, Jim Cramer, Scharf, Tuesday's, Wells Fargo, I'm Organizations: Federal Reserve Locations: Wells

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