Wells Fargo reported better-than-expected quarterly results ahead of Friday’s opening bell. We were also pleased to see that by the end of 2023, management has officially delivered on its multi-year cost savings program of $10 billion. But shares came under pressure due to a weaker-than-expected outlook. Total revenue for the three months ended Dec. 30 … Read more
Here are the most important news investors need to start their trading day: 1. Packaging Stock futures fell on Friday ahead of the week’s final trading session. However, all the major indices are still heading for weekly gains, despite what has seemed like near-daily stagnation since the start of 2024. The Dow Jones Industrial Average … Read more
Wells Fargo shares fell on Friday even after fourth-quarter profit rose from last year, as the bank warned that net interest income for 2024 could be significantly lower year-on-year. Here’s what the bank reported versus what Wall Street expected, based on a survey of analysts at LSEG, formerly known as Refinitiv: ยท Revenue: $20.48 billion … Read more
Citigroup CEO Jane Fraser attends a hearing on the annual oversight of Wall Street firms before the Senate Banking, Housing and Urban Affairs Committee on December 6, 2023 in Washington, DC, US. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared … Read more
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during a U.S. Senate Banking, Housing and Urban Affairs Committee hearing on Wall Street firms on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters American bank reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared to what … Read more
Delta Air Lines closed the year by doubling its quarterly profit as demand for travel, especially international travel, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company cut its full-year profit outlook from a previous forecast, and shares fell 9% on Friday, … Read more
Jane Fraser CEO, Citi, speaks at the Milken Institute 2023 Global Conference in Beverly Hills, California, on May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that the charges associated with the drop in the Argentine peso as well as the bank’s reorganization were much higher than the company’s chief financial officer … Read more
Samsung is the world’s largest manufacturer of memory chips. Jakub Porzycki | Nurphoto | Getty Images Samsung Electronics said on Tuesday it expected a 35% drop in operating profit in the fourth quarter of 2023, well below expectations, as a recovery in semiconductor prices likely narrowed losses in the South Korean company’s biggest profit-pulling segment. … Read more