The big news in bank earnings for stocks as a whole: JPM and Citi are suspending stock buybacks
Given the big role that stock buybacks play in sustaining rallies and driving stock prices higher, news in earnings reports this past week that both Citigroup (C) and JPMorgan Chase (JPM) are suspending their stock buyback programs is a big deal. Not just for these...
Trimming bank stocks ahead of earnings: Selling WFC and KBWB ETF
Just want to make sure that no one missed the sell recommendations in yesterday’s Saturday Night Quarterback post on my subscription JubakAM.com site. Big banks will kick off another earnings season beginning with JPMorgan Chase (JPM) on Wednesday, April 13....Big banks deliver mixed start to Q4 earnings season with JPMorgan down and Wells Fargo up
Sing along: One of these banks is not like the others. One of these banks doesn’t belong. This morning big money center banks JPMorgan Chase (JPM) and Citigroup (C) delivered disappointing reports on fourth quarter revenue and earnings. Shares of JPMorgan Chase...
Big bank earnings this week won’t tell us what we need to know about this quarter’s reports
Big bank earnings arrive on Wednesday and Thursday but, unfortunately, they won’t tell us anything useful about the margin pressures from rising global supply chain shipping costs or higher prices for raw materials. Those are the factors that could produce a...
Watch my new YouTube video: 3 Picks for the Earnings Blowout
I’m starting up my videos again–this time using YouTube as a platform. The thirtieth YouTube video “3 Picks for the Earnings Blowout” went up today. Please watch and subscribe to my YouTube channel. And like my video. You can see it...
With Fed stress test behind them, banks announce deluge of dividend increases and share buybacks
That didn’t take long. On Thursday the Federal Reserve reported that all 23 big banks tested in its annual stress test, passed. Which means that the last remaining restrictions on dividend increases and share buybacks are now history. Yesterday big banks started...
CEO Dimon says JPMChase is building cash in expectation of higher interest rates
Today, Monday June 14, JPMorgan Chase (JPM) CEO Jamie Dimon said that the bank is holding around $500 billion in cash in order to benefit from higher interest rates. Dimon told a Morgan Stanley virtual conference that he expects rising inflation will result in higher...
The financial market is feeling better today about risk–time to put on your worry hat?
You can judge the stock market’s mood pretty accurately today, Tuesday, March 30, from just a few price movements. Take a look at the performance of bank stocks, the small cap Russell 2000, the CBOE VIX “fear index,” and technology stocks to see...
Fed to end restrictions on bank dividends, share buybacks at end of June
U.S. banks that pass their next stress tests will allowed to raise their dividends after June 30, the Federal Reserve said yesterday, March 25. The Fed will also lift any remaining restrictions on stock buybacks. Limits on dividend payouts to investors and share...
JPMorgan Chase surprises on earnings–but not in the way that markets had hoped
This morning JPMorgan Chase (JPM) reported a “surprise” jump in earnings in the third quarter. The problems in that “surprise” were in the nature of the surprise. A good part of the “surprise” wasn’t a surprise. The bank...
Earnings season starts tomorrow morning with JPMorgan Chase and Citibank
The big banks kick off third quarter earnings reports tomorrow, Tuesday, October 13 with JPMorgan Chase (JPM) due to report before the open. The analyst consensus is that the bank will earn $1.93 a share, down from the $2.68 a share earnings in the September quarter...
Banks start off earnings season by pouring cold water on V-shaped recovery
“I don’t think anybody should leave any bank earnings call this quarter simply feeling like the worst is absolutely behind us and it’s a rosy path ahead,” Citigroup (C) CEO Michael Corbat said this morning as he announced the bank’s second quarter earnings. “We...
Fed’s stress test for 34 big U.S. banks says no share buybacks, no increases in dividends
After the close for the New York markets, the Federal Reserve announced the results of its newest round of stress tests on 34 big U.S. banks. For the first time, the Fed added scenarios for a V-shaped recession and recovery; a slower, U-shaped recession and recovery;...
Big banks face Fed stress test this week
What’s a week without a good chance that the Federal Reserve will roil the stock market? On Thursday June 25, the Federal Reserve will release results of its annual bank stress tests on June 25. At stake will be bank plans for dividend payouts. Banks that...
Wells Fargo and JPMorgan Chase stop accepting applications for home equity loans
As economic indicators go, this isn’t one that I follow in normal times. In normal times banks are happy to accept an application for a home equity loan from anyone who owns a house. Real estate is a good credit risk. In normal times. But if you’re still...
Markets have a case of the earnings season “nerves” today
As of 1 p.m. New York time the Standard & Poor’s 500 is down 1.88% and the Dow Jones Industrial Average is off 2.14%. The NASDSQ Composite is lower by 0.79% and the Russell 2000 small cap index has tumbled 2.80%. The iShares MSCI Emerging Markets ETF (EEM)...
Bet you’ve forgotten: Earnings season starts next week with the big banks
What with everything going 0n, I wouldn’t be surprised if the start of earnings season next week has slipped your mind. Reports of fourth quarter earnings are actually fairly important this year because stocks trade near all time highs and estimates say that...Estimates for bank earnings continue to move lower ahead of next week’s earnings reports
Bank stocks aren’t doing badly today ahead of the start of earnings reports from the biggest banks starting on Monday. But to me it looks like today’s slightly upward bias is a bet not on good earnings but that analysts have gone too far with their cuts to...
Reaction to JPM Chase earnings today small red flag for continued earnings season rally
The reaction to Wells Fargo (WFC) earnings released before the open this morning was perfectly fitting. The bank lagged its peers again on key metrics (revenue fell 3.1% year over year and earnings per share were down 9% as average loans fell 1%) and the stock was...
Oil stumbles, banks retreat: So where’s the leader for the next rotation?
Oil prices fell today with U.S. benchmark West Texas Intermediate falling 1.29% to $50.64 a barrel and international benchmark Brent crude down 1.11% to $56.31 a barrel. Oil prices were even lower in the early going with West Texas Intermediate touching $50.23 a...
Financials continue to rally in wake of reports of less damage than expected in Florida from Irma
Yesterday forecasts of lower than expected damage from Hurricane Irma were enough to light a fire under shares of insurance companies, the Financial Select Sector SPDR (XLF) and the market as a whole. Yesterday shares of Swiss RE and Munich RE, two re-insurers that...
Today’s bank earnings and market reaction a mixed bag–which is an improvement from Friday’s pessimism
More big bank earnings today–and, fortunately, they were a mixed bag. Which made them markedly better than Friday’s results. Bank of America’s (BAC)’s second-quarter earnings per share rose 12% to 46 cents, beating by 3 cents a share. Revenue...
Earnings season kicks off this week: Are expectations low enough? Bank stocks will tell on Friday
For all intents and purposes second quarter earnings season kicks off on Friday. Yes, PepsiCo (PEP) does report on Tuesday and Delta Air Lines speaks on Thursday, but the real bellwether earnings reports come from the big banks on Friday with earnings from Citigroup...
Solid earnings beats from Citigroup and JPMorgan Chase barely push S&P 500 into the green
Two out of three of the big banks reporting first quarter earnings this morning beat Wall Street estimates. Citigroup (C) reported earnings of $1.35 a share, 11 cents a share above the Wall Street consensus. JPMorgan Chase (JPM) reported earnings of $1.65 a share, 12...
U.S. markets decide not to go anywhere ahead of the weekend
U.S. stocks stabilized today–thanks to better than expected earnings from Citigroup (C) and JPMorgan Chase (JPM) and, well, Friday. The Standard & Poor’s 500 stock index closed up 0.02%. U.S. crude oil benchmark West Texas Intermediate fell 0.24% but...
Earnings from JPMorgan Chase show strong U.S. economy
Second quarter earnings results announced this morning by JPMorgan Chase (JPM) held solidly good news for the U.S. economy. Not as much good news for the bank and the banking sector in general, though. JPMorgan Chase is the first of the big banks to report with...
U.S. stocks pause ahead of earnings
Not terribly surprising that U.S. stocks are meandering in slightly negative territory today after busting out to new all-time highs. (The Standard & Poor’s 500 stock index was off 0.09% at the close in New York.) We’re about to head into the meat of...Update JPMorgan Chase (JPM)
Most of the time Wall Street’s attention is riveted on earnings per share. On January 14 when JPMorgan Chase (JPM) reported fourth quarter financial results before the stock market opened in New York eyes were focused on revenue. That’s because now that the economic...Update JPMorgan Chase (JPM)
With banks it’s the spread that counts. And it looks like the turmoil in the financial markets is expanding the spread between what banks have to pay for funds and what they can charge for their loans. That should add to bank profits in the fourth quarter. If you’re...Jim’s Daily Email Alerts:
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