On Tuesday, CNBC’s Jim Cramer responded to Bank of America’s optimistic forecast for 2024, concurring that it’s plausible for the S&P 500 to reach 5000 by the end of next year. Bank of America’s strategist, Savita Subramanian, stated on the same day that she foresees 2024 as a “stock picker’s paradise.” She expressed bullishness not …
\ Stock Market Update 31 Mins Ago A recent market divergence could spell turbulence for stocks, warns BTIG. BTIG has highlighted a unique technical signal that could indicate a pullback for stocks. Specifically, the Nasdaq 100 closed less than 5% below a 52-week high, while the Russell 2000 closed less than 5% above a 52-week …
Brian Moynihan, CEO of Bank of America Heidi Gutman | CNBC Bank of America exceeded expectations for its third-quarter profit due to stronger-than-expected interest income. Here’s what the company reported: Earnings per share: 90 cents vs. the expected estimate of 82 cents from LSEG, which was formerly known as Refinitiv Revenue: $25.32 billion, compared to …
Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Marco Bello | Reuters American banks are experiencing another quarter affected by the surge in interest rates, raising concerns about shrinking margins and increasing …
Jamie Dimon, chairman and CEO of JPMorgan Chase, at the U.S. Capitol for a lunch meeting with the New Democrat Coalition in Washington, D.C., June 6, 2023. Nathan Howard | Bloomberg | Getty Images JPMorgan Chase surpassed analysts’ expectations for Q3 profit and revenue. Here’s what was reported: Earnings: $4.33 a share Revenue: $40.69 billion, …
Chairman Sherrod Brown (D-OH) queries Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell in a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, on September 28, 2021. Kevin Dietsch | Pool | Reuters Eight CEOs of the largest U.S. banks will …
Citigroup CEO Jane Fraser announced a corporate reorganization Wednesday, saying the move would cut down management layers and accelerate decisions. Fraser said in a release that Citigroup would be divided into five main business lines that report directly to her. Previously, the firm had two main divisions catering to consumers and large institutional clients. The …
Chairman Jim Jordan, R-Ohio, presided over the House Judiciary Committee hearing on the “Report of Special Counsel John Durham” at the Rayburn Building on Wednesday, June 21, 2023. Tom Williams | CQ-Roll Call, Inc. | Getty Images WASHINGTON — House Judiciary Committee Chairman Jim Jordan has issued a subpoena to Citibank on Thursday, requesting information …
Explore the companies that are grabbing attention in premarket trading. Discover Financial Services witnessed a 6.5% decline due to the resignation of CEO Roger Hochschild. The company announced that John Owen, a board member, will serve as the interim chief executive. Turnstone Biologics experienced a premarket decline of 2.3%. Earlier today, investment firm Piper Sandler …
A man wearing a mask passes by a Nvidia logo in Taipei, Taiwan. Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Banks – Major Wall Street banks experienced a decline in midday trading following a report from CNBC stating that Fitch Ratings may downgrade the health of …