Stocks making the biggest moves before the bell: JPMorgan, BlackRock, Globe Life and more
PMorgan — The bank slipped 2.4% despite beating expectations on both lines and reporting lower credit costs than anticipated. However, the bank said net interest income, a key measure of what it makes through lending activities, could be somewhat short of what Wall Street analysts are expecting in 2024. CEO Jamie Dimon also warned about persistent inflationary pressures weighing on…
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Freetrade, Britain’s answer to Robinhood, posted its first quarterly profit
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‘Buffett really was not a great stock picker’: Financial researcher Larry Swedroe on how investors can emulate the billionaire investor
Larry Swedroe, who is considered one of the market’s most esteemed researchers, thinks Warren Buffett’s investment style doesn’t work well anymore. He cites the number of professional Wall Street firms and hedge funds now participating in the market. “Warren Buffett was generally considered the greatest stock picker of all time. And, what we have learned…
Stocks making the biggest moves midday: CarMax, Nike, Paramount, Fastenal and more
CarMax — The used vehicle seller tumbled 13% after reporting fourth-quarter earnings of 32 cents per share on revenue of $5.63 billion. Analysts had expected earnings per share of 49 cents on revenue of $5.80 billion, according to LSEG, formerly known as Refinitiv. Nike — The athletic apparel maker added 3.2% after Bank of America upgraded Nike to buy…
What to expect from bank earnings as high interest rates pressure smaller players
The benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday. Ever since the chaos of last year’s regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones. That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest…
90% of qualifying electric-vehicle buyers opt for $7,500 ‘new clean vehicle’ tax credit as upfront payment, Treasury says
The bulk of Americans buying qualifying new electric vehicles are opting to receive an associated tax credit upfront from the car dealer instead of waiting until tax season, according to new Treasury Department data. About 90% of consumers who qualify for a “new clean vehicle” tax credit — worth up to $7,500 — have requested their…
Citigroup tops estimates for first-quarter revenue on better-than-expected Wall Street results
Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected results in the bank’s investment banking and trading operations. Here’s how the company performed, compared with estimates from LSEG, formerly known as Refinitiv: The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and…
BlackRock’s Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
BlackRock CEO Larry Fink predicted Friday that the Federal Reserve likely will still cut interest rates this year but won’t meet its inflation target. With markets on edge over the direction of monetary policy, the head of the world’s largest money manager said it’s unlikely the central bank will hit its 2% goal anytime soon….
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