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Stock Market & Financial Investment News

News Breaks
February 29, 2012
06:24 EDTBAC, C, GS, MS, WFC, JPM, USBLending at U.S. banks rises, WSJ reports
U.S. banks reported their biggest quarterly increase in lending in four years, according to the Federal Deposit Insurance Corp., a positive sign for the U.S. economy, reports the Wall Street Journal. Reference Link
News For BAC;C;GS;MS;WFC;JPM;USB From The Last 14 Days
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July 11, 2014
12:12 EDTCCitigroup to host conference call
Management holds a 2Q Fixed Income Investor Review conference call on July 18 at 11 am. Webcast Link
11:13 EDTWFCWells Fargo sees doing commercial real estate portfolio acquisitions
Says would be willing to sell student loan portfolio in one piece.
10:50 EDTWFCWells Fargo sees gain on sale margins stabilizing
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10:32 EDTWFCWells Fargo says 'absolutely' sees net interest income growth
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10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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10:25 EDTWFCWells Fargo targeting a net payout ratio of 55%-75%
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10:23 EDTWFCWells Fargo says seeing many indicators of economic growth accelerating
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09:37 EDTC, WFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:09 EDTWFCOn The Fly: Pre-market Movers
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08:54 EDTWFCWells Fargo nears tests of support following earnings, levels to watch
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08:09 EDTWFCWells Fargo reports Q2 Community Banking net income $3.4B
Community Banking reported net income of $3.4B, down $413M, or 11%, from Q1. Revenue of $12.6B rose slightly from the prior quarter. Higher net interest income, mortgage banking revenue and card fees, were offset by lower equity investment gains. Wholesale Banking reported net income of $2.0B, up $210M, or 12%, from Q1. Revenue of $5.9B increased $366M, or 7%, from prior quarter. Wealth, Brokerage and Retirement reported net income of $544M, up $69M, or 15%, from Q1. Revenue of $3.6B increased $82M, or 2%, from the prior quarter as increased asset-based fees and higher gains on deferred compensation plan investments, offset in compensation expense, were partially offset by lower brokerage transaction revenue.
08:06 EDTWFCWells Fargo reports Q2 mortgage originations of $47B
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08:05 EDTWFCWells Fargo says credit performance continued to improve in Q2
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08:04 EDTWFCWells Fargo reports Q2 net charge offs $717M
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08:04 EDTWFCWells Fargo reports loans $828.9B at June 30, up $2.5B from March 31
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08:02 EDTWFCWells Fargo CEO says 'optimistic' about bank's future
“Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said Chairman and CEO John Stumpf. “By continuing to serve customers we grew loans, increased deposits and deepened our relationships. Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline. We are committed to both maintaining strong capital levels and returning more capital to our shareholders. In the second quarter we increased our common stock dividend 17 percent and repurchased 39.4 million shares. We remain dedicated to building long-term shareholder value, and I am optimistic about the future as we continue to focus on meeting the needs of our consumer, small business and commercial customers.” CFO John Shrewsberry said, “The primary drivers of Wells Fargo’s business remained strong in the second quarter, with broad-based loan growth, increased deposit balances, and improved credit quality. Revenue increased linked quarter as the Company grew both net interest income and noninterest income, a reflection of Wells Fargo’s diversified business model. These solid fundamental business results led to an increase in pre-tax income linked quarter. Net income was down as the Company’s effective tax rate was lower in the first quarter due to a $423 million discrete tax benefit.”
08:01 EDTWFCWells Fargo reports Q2 EPS $1.01, consensus $1.01
Reports Q2revenue $21.07B, consensus $20.82B.
07:34 EDTMSMorgan Stanley July volatility elevated into Q2 and outlook
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07:30 EDTWFCGlobal Interdependence Center to hold a summit
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07:20 EDTC, BAC, MS, USB, JPM, GS, WFCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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