October 14, 2023 | Daily JAM |
Look for a big earnings test for regional banks and a feW clues about consumer goods, airlines, and autos. Last week ended with great earnings reports from Big Banks JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C). Big Bank earnings continue this week with Bank of America (BAC) and Goldman Sachs (GS) reporting on Tuesday. But the important news for the financial sector will come from the dozens of earnings reports from regional banks.
July 19, 2023 | Daily JAM, Videos |
Today’s video is Earnings: It’s All About Surprise. Good news is good, but it doesn’t necessarily move markets. On Friday, July 14, JPMorgan Chase came out with a stellar earnings report–but other stocks in the sector moved down on a belief that these banks wouldn’t match JPMorgans good news. However, SURPRISE! On July 18, Bank of America came out with a very good earnings report, and the stock popped by 4.2%. Bank of America surprised the market with a big bump from its Wall Street trading operations. On the surprise, Bank of America actually moved the entire banking index up 2.29%. On the negative side, regional bank PNC Bank surprised negatively with a cut to its full year guidance from 6-8% to 5-6%, and the stock, of course, fell. (Early in the day although it recovered by the close.) Keep all this in mind as we head into earnings season for technology companies, where expectations are often very high. Apple is one of the first to report and will set the tone for the second quarter which is typically a weaker quarter in the technology sector.T
April 9, 2016 | Uncategorized |
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April 14, 2014 | Uncategorized |
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October 15, 2012 | Uncategorized |
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June 23, 2011 | Daily JAM |
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June 20, 2011 | Daily JAM, Stock Alerts |
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