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US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks
Monday, October 7, 2024 - 4:48pm | 788As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and their impact on bank valuations. Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks...
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Wells Fargo, Citigroup, Goldman Sachs Poised For Gains Amid Fed Rate Cuts - Morgan Stanley
Monday, September 30, 2024 - 2:06pm | 729Earlier this month, the Federal Reserve slashed interest rates by 50 basis points at its September Federal Open Market Committee meeting, lowering the federal funds rate in the range of 4.75%-5%. The Fed also hinted at the potential for additional cuts in the coming months, with the updated dot...
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AI's Uneven Growth, Regional Bank Picks, And Beaten-Down Retail Stocks In Focus As Wedbush Analyst Shares Insights
Wednesday, September 25, 2024 - 3:31pm | 699Kevin Merritt, the research director at Wedbush Securities, joined Benzinga's PreMarket Prep Wednesday and highlighted the firm's top bank picks, opportunities in beaten-down names and more. Merritt also spoke about the adoption of AI, and which companies will benefit from the technology in the...
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Bank Stocks Hit Inflection Point After Fed's 50 Basis Point Cut, Analyst Reveals Top Picks
Thursday, September 19, 2024 - 8:24am | 1080The Federal Reserve's decision to reduce interest rates by 50 basis points on Wednesday has set the stage for a notable shift, particularly in the banking sector among mid- and small-cap banks. With rates expected to drop further over the next two years, JPMorgan analyst Steven Alexopoulos believes...
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Warren Buffett Sells More Bank Of America Stock: Should You Follow His Lead Or Invest Further?
Thursday, September 12, 2024 - 12:22pm | 786Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) has been steadily trimming its stake in Bank of America Corp (NYSE:BAC), selling off $7.2 billion worth of shares since mid-July. Warren Buffet Has Been Trimming Stake In BAC Following the sale of 5.8 million shares for $228.7 million at...
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JP Morgan Downgraded, Bank Of America And Wells Fargo Upgraded: What's Behind Deutsche Bank's Latest Analyst Ratings?
Tuesday, September 3, 2024 - 1:44pm | 646Deutsche Bank analyst Matt O-Connor revised ratings on JP Morgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC). JP Morgan: The analyst downgraded the rating to Hold from Buy while retaining the price target at $235. The analyst writes...
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JPMorgan Unveils In-House Chatbot To Enhance Research Capabilities: Report
Friday, July 26, 2024 - 10:39am | 552JPMorgan Chase & Co. (NYSE:JPM) shares are trading higher today. The bank has reportedly started deploying its generative AI tool, informing employees that its proprietary version of OpenAI’s ChatGPT can perform the tasks of a research analyst. The U.S. bank has provided its asset...
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What's Going On With Bank Of America Shares Premarket Thursday?
Thursday, July 25, 2024 - 5:50am | 544Bank of America Corporation (NYSE:BAC) shares are trading higher today after the company authorized share buybacks. The Board authorized a $25 billion stock repurchase program starting August 1, 2024, replacing the existing program set to expire on that date. As of June 30, 2024, the current...
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EXCLUSIVE: Financials 'Looking Favorable' After JPMorgan Earnings — Market Strategist Jay Woods Says Sector 'Just Joining The Party'
Thursday, July 18, 2024 - 4:04pm | 534The financial sector looks favorable after a recent earnings report from JPMorgan Chase (NYSE:JPM) and other factors, a market strategist told Benzinga. What Happened: An earnings report from JPMorgan was strong and could lead the financial sector going forward, Freedom Capital Markets Chief Global...
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Charles Schwab Analysts See 'Choppy Path' For Bank After Q2 Earnings: 'We Are Not Yet Seeing The Light At The End Of The Tunnel'
Wednesday, July 17, 2024 - 11:21am | 578Charles Schwab Corp (NYSE:SCHW) is under pressure Wednesday after the investing giant warned it will need to become smaller in an effort to protect profitability. Analysts are cutting estimates as a result. What To Know: Before the market open on Tuesday, Schwab reported second-quarter revenue of $...
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Morgan Stanley Q2 Earnings: Higher Profits As Investment Banking Activity Rebounds, On Track To Reach $10T Client Assets
Tuesday, July 16, 2024 - 9:17am | 436Tuesday, Morgan Stanley (NYSE:MS) reported second-quarter EPS of $1.82, up from $1.24 a year ago and beating the consensus of $1.65. The U.S. bank reported second-quarter sales of $15.02 billion, up 11.6% year over year, beating the consensus of $14.30 billion. The sales were balanced across Wealth...
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Bank of America's Q2 Earnings: Revenue And EPS Beat, $1.5B Credit Loss Provision, Sees Q4 NII Growth
Tuesday, July 16, 2024 - 7:43am | 353Bank of America Corp (NYSE:BAC) reported a second-quarter fiscal 2024 net income of $6.9 billion and EPS of $0.83, beating the analyst consensus estimate of $0.80. Revenue, net of interest expense, increased 0.8% year-over-year to $25.54 billion, beating the analyst consensus estimate of...
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Bank Of America's Bullish Trajectory Ahead Of Q2 Earnings: What Technicals Reveal
Monday, July 15, 2024 - 3:03pm | 671Bank of America Corp (NYSE:BAC) will be reporting its second-quarter earnings on Tuesday. Wall Street expects 80 cents in EPS and $25.2 billion in revenues as the company reports before market hours. The stock is up 43.07% over the past year, 24.74% YTD. Let’s look at what the charts indicate...
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JPMorgan Chase Q2 Results Were Best Of 3 Big Banks Reporting: 'But Numbers Are Distorted By $7.8B Visa Gain'
Monday, July 15, 2024 - 11:22am | 505Shares of JPMorgan Chase & Co (NYSE:JPM) recovered in early trading on Monday, after tanking on Friday, following the second-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Oppenheimer analyst Chris Kotowski maintained...
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Wells Fargo Shares Fall Despite Q2 Earnings Beat: 'Guidance Was Softer Than Expected — A Valid Concern'
Monday, July 15, 2024 - 11:05am | 598Shares of Wells Fargo & Co (NYSE:WFC) recovered slightly in early trading on Monday, after tanking on Friday, following the second-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Goldman Sachs analyst Richard Ramsden...