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Zacks News
San Francisco-based – Wells Fargo & Company is one of the largest financial services company in the U.S. with $1.95 trillion in assets and more than $1.4 trillion in deposits. The company provides banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage services and consumer and commercial finance through over 7,200 stores, 13,000 ATMs, the internet and other distribution channels across North America and globally. The company provides its services through three broad segments: Community Banking offers a complete line of diversified financial products and services to consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student, and small business lending. Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. Wealth and Investment Management provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses.
Wells Fargo (WFC) Targets Cost Cuts Post-Scandal
by Zacks Equity Research
At Investor Day held on May 11, Wall Street major Wells Fargo & Company (WFC) doubled the cost-cutting program in the wake of disclosure of malpractices related to opening of around two million bank and credit card accounts without customers' consent last year.
Wells Fargo Mulls Over Divesting Insurance Brokerage Unit
by Zacks Equity Research
Wells Fargo & Company (WFC) is considering sale of its insurance brokerage business, as reported by Bloomberg. Per the people familiar with the matter, the divesture might result in a return of about $2 billion.
Shares of IBM Slide After Warren Buffett Cuts Stake By a Third
by Madeleine Johnson
On Friday, shares of information technology stalwart IBM Corp. (IBM) are sliding, down about 2.5% in early morning trading--the stock was down about 3.4% in pre-market trading--after Warren Buffett said he's sold about a third of his stake in the company.
Northern Trust (NTRS) Q1 Earnings Beat, Expenses Escalate
by Zacks Equity Research
Riding on higher revenues, Northern Trust Corporation (NTRS) reported a positive earnings surprise of 1.9% in first-quarter 2017. Earnings per share came in at $1.09, beating the Zacks Consensus Estimate of $1.07.
Stock Market News for April 25, 2017
by Zacks Equity Research
Benchmarks finished in the green on Monday, following the victory of centrist candidate Emmanuel Macron in the first round of the French presidential election
Stock Market News for April 21, 2017
by Zacks Equity Research
Benchmarks finished in the green on Thursday, following the release of strong earnings reports and encouraging comments on tax related changes
People's United (PBCT) Q1 Earnings in Line, Dividend Up
by Zacks Equity Research
People's United Financial Inc.'s (PBCT) first-quarter 2017 operating earnings of 22 cents per share were in line with the Zacks Consensus Estimate. The reported figure was up 4.8% year over year from 21 cents.
What Do Banking Earnings Tell About These Financial ETFs?
by Sanghamitra Saha
Banking earnings for the first quarter came in moderate. What about ETFs?
Citizen Financial (CFG) Q1 Earnings Beat, Expenses Rise
by Zacks Equity Research
Riding on higher revenues, Citizens Financial Group, Inc. (CFG) delivered a positive earnings surprise of 19.6% in first-quarter 2017. Earnings per share came in at 61 cents, beating the Zacks Consensus Estimate of 51 cents.
Here's Why McDonald's (MCD) Stock Just Hit an All-Time High
by Joseph Lu
Who doesn't like the idea of ordering Egg McMuffins and chicken nuggets with a few taps on their phone? Not only do consumers like the sound of that, but it also seemed to appeal greatly to analysts and investors.
Huntington (HBAN) Misses on Q1 Earnings, Revenues Surge
by Zacks Equity Research
Huntington Bancshares Incorporated (HBAN) reported adjusted earnings per share of 21 cents, missing the Zacks Consensus Estimate by a penny. Also, the figure was 15% below the prior-year quarter.
U.S. Bancorp (USB) Beats on Q1 Earnings, Expenses Flare Up
by Zacks Equity Research
U.S. Bancorp (USB) reported a positive surprise of 2.5% in first-quarter 2017. The company reported earnings per share of 82 cents, beating the Zacks Consensus Estimate of 80 cents. Results also came ahead of the prior-year quarter earnings of 76 cents.
Morgan Stanley (MS) Tops Q1 Earnings as Bond Trading Jumps
by Zacks Equity Research
Continued strength in bond trading drove Morgan Stanley's (MS) first-quarter 2017 earnings of $1.00 per share, which handily outpaced the Zacks Consensus Estimate of 90 cents.
BofA (BAC) Q1 Earnings Beat on Trading Surge, Rate Hike
by Zacks Equity Research
Higher trading revenues as well as rise in interest rates drove BofA's (BAC) first-quarter 2017 earnings of 41 cents per share, which handily outpaced the Zacks Consensus Estimate of 35 cents.
Goldman (GS) Q1 Earnings Disappoint on Rise in Expenses
by Zacks Equity Research
Impacted by higher expenses, The Goldman Sachs Group, Inc.'s (GS) first-quarter 2017 results recorded a negative earnings surprise of 4.3%. The company reported earnings per share of $5.15, missing the Zacks Consensus Estimate of $5.38.
Regions Financial (RF) Tops Q1 Earnings, Expenses Escalate
by Zacks Equity Research
Regions Financial Corporation's (RF) first-quarter 2017 earnings from continuing operations of 23 cents per share surpassed the Zacks Consensus Estimate by a penny. Also, the figure was 15% higher than the prior-year quarter tally.
McDonald's to Serve Up Mobile Ordering Ahead of Its Fast-Food Competition
by Benjamin Rains
McDonald's Corporation (MCD) is set to offer mobile ordering and payment options at all of its 14,000 US locations by the end of the fourth quarter, according to a Wells Fargo & Company (WFC) analyst note on Monday.
Positive Start to Q1 Earnings Season
by Sheraz Mian
This week's earnings results will give us a good view of how the Q1 earnings season is unfolding.
M&T Bank (MTB) Beats Q1 Earnings Estimates, Revenues Up
by Zacks Equity Research
M&T Bank Corporation (MTB) recorded a positive earnings surprise of 10.8% in first-quarter 2017. The company reported net operating earnings of $2.15 per share which surpassed the Zacks Consensus Estimate of $1.94.
Stock Market News for April 17, 2017
by Zacks Equity Research
Benchmarks finished in the red on Thursday following the deployment of Mother of All Bombs??? (MOAB) on ISIS tunnels in Afghanistan on Thursday
John Bean Tech, Texas Roadhouse, Wells Fargo, Citigroup and J.P. Morgan highlighted as Zacks Bull and Bear of the Day
by Zacks Equity Research
John Bean Tech, Texas Roadhouse, Wells Fargo, Citigroup and J.P. Morgan highlighted as Zacks Bull and Bear of the Day
3 Key Takeaways From JPM's Q1 Earnings
by Joseph Lu
Thursday marked the first wave of the big banks' quarterly earnings. Wells Fargo (WFC), Citigroup (C) and J.P. Morgan (JPM) all reported their earnings today. Among them, JPM is clearly leading the pack with its solid first quarter earnings.
Wells Fargo's (WFC) Q1 Earnings Beat on High Interest Income
by Zacks Equity Research
Driven by net interest income, Wells Fargo & Company's (WFC) first-quarter 2017 earnings recorded a positive surprise of about 3.1%. Earnings of $1.00 per share outpaced the Zacks Consensus Estimate by 3 cents.
Citigroup (C) Beats on Q1 Earnings, Trading Revenues Climb
by Zacks Equity Research
Citigroup Inc. (C) delivered a positive earnings surprise of 8.9% in first-quarter 2017, riding on higher revenues. The company's earnings per share of $1.35 for the quarter outpaced the Zacks Consensus Estimate of $1.24.
Earnings Results in Focus
by Zacks Equity Research
Earnings Results in Focus