UBS Remains Neutral on JPMorgan (JPM) Following 9c EPS Beat

Pre-Open Stock Movers 10/14: (TRIP) (CASI) (SNDK) Higher; (CPHD) (CFX) (DOC) Lower (more...)

TripAdvisor (NASDAQ: TRIP) 24.9% HIGHER; TRIP and The Priceline Group (NASDAQ:... More

GE loan book helps Wells Fargo report first profit rise in three quarters

By Richa Naidu and Rachel Chitra

(Reuters) - Wells Fargo & Co (NYSE: WFC), the biggest U.S. residential mortgage lender, reported a rise in quarterly profit for the first time in three quarters on Wednesday, helped by its purchase of commercial loans from General Electric Co (NYSE: GE).

The San Francisco lender has been using its hefty balance sheet to diversify its business as it braces for a rise in interest rates to cut into demand for home loans.

It is unclear... More

FBR Capital Maintains Bullish View on JPMorgan (JPM) Despite Weaker Revenue Guidance on Difficult Operating Environment

FBR Capital analyst Paul Miller reiterated an Outperform rating and $75 price target on JPMorgan (NYSE: JPM) following Q3 results which came with weaker revenue guidance.

Miller commented, "After the close, JPM reported 3Q15 earnings with a subdued tone, as continued low interest rates and market volatility in the quarter affected the companys... More

BofA's cost cuts cushion blow from weak rates, muted trading

By Sweta Singh

(Reuters) - Bank of America Corp (NYSE: BAC) reported a profit for the third quarter, compared with a year-earlier loss, as Chief Executive Brian Moynihan's cost-cutting efforts helped the bank mitigate the impact of weak revenue in three of its four main businesses.

BofA has been slashing billions of dollars in costs in its commercial lending, investment banking and wealth management businesses as overnight fund rates remain near zero and worries about China's economy and uncertainty over the timing of a U.S. rate hike prevent traders from... More

After-Hours Movers 10/13: (SNDK) (MU) (WDC) Higher; (CPHD) (INTC) (JPM) Lower (more...)

Cepheid (NASDAQ: CPHD) 13.1% LOWER; announced preliminary results for the quarter ending September 30, 2015. Based on Cepheid's preliminary financial results, total revenue for the third quarter of 2015 is expected to be approximately $126.5 million, and net loss per share is expected to be approximately $(0.32) for the third quarter. Based on Cepheid's preliminary financial results, non-GAAP net loss per share for the third quarter of 2015 is expected to be approximately $(0.13),... More

Market Wrap: Job Cuts Aplenty at Twitter; Intel Tops Q3 Expectations; Analysts Get Bearish on GoPro

Market wrap for October 13th

End of the Day: S&P 500 down 13.8 to 2,003.69; Dow Jones down 50.0 to 17,081.89; Nasdaq down 42.0 to 4,796.61

Market Brief: Markets fluctuated between gains and losses Tuesday as Q3 earnings season begins to ramp up.

Twitter affirmed plans to cut jobs, which was first reported on Monday.

China's General Administration of Customs reported that exports fell 3.7 percent in September, which was narrower than a 5.5 percent drop in August. The current trade surplus rose from $60.2 billion in August up to $60.3... More

JPMorgan (JPM) Misses Q3 EPS by 9c

JPMorgan (NYSE: JPM) reported Q3 EPS of $1.32, $0.09 worse than the analyst estimate of $1.41. Revenue for the quarter came in at $23.5 billion versus the consensus estimate of $24.01 billion.

Jamie Dimon, Chairman and CEO, commented on the financial results:

We had decent results this quarter. We saw the impact of a challenging global environment and continued low rates reflected in the wholesale businesses results, while the consumer businesses benefited from favorable trends and credit... More

JPMorgan (JPM) Shares Flat Ahead of Q3 Report

JPMorgan (NYSE: JPM) shares are nearly flat Tuesday heading into its Q3 report, which is expected out after markets close.

Analysts are looking for JPM to post EPS of $1.41 with revenue of $24 billion, from EPS of $1.36 and revenue of $25.2 billion reported... More

Barclays says still in process of naming new CEO

(Reuters) - Barclays Plc said on Tuesday it was still in the process of appointing a new chief executive officer, amid ongoing rumors that the British bank was close to naming former JPMorgan Chase & Co (NYSE: JPM) banker Jes Staley to the post.

BlackBerry (BBRY) Said Losing Support from Large Banking Customer

BlackBerry (Nasdaq: BBRY) is on watch Tuesday following reports that one large banking customer is looking to wane itself off of the platform.

According to the... More

Wall St. declines on China fears, weak profit expectations

By Caroline Valetkevitch

(Reuters) - U.S. stocks fell on Tuesday, with the Dow snapping a seven-day winning streak, on renewed fears of slowing growth in China and another bout of selling in biotech shares.

Biotechs led the S&P 500 and Nasdaq lower and the S&P health care index , down 1.2 percent, had the biggest losses among S&P sectors, followed by industrials , down 1.1 percent. The Nasdaq Biotech Index was down 3.2 percent, extending recent declines.

Worries about third-quarter earnings reports continued to weigh on sentiment. Earnings for S&P 500 companies are expected... More

Citi dials down risky block trading amid market turmoil

By Olivia Oran

NEW YORK (Reuters) - Over the summer, as the U.S. stock market wobbled and then plunged 4 percent in a day, Citigroup made a tough choice: to dial down risk-taking in the bank's capital markets group.

Phil Drury and Doug Adams, then co-heads of U.S. equity capital markets focused on block trading, a corner of the trading business where razor-thin margins can quickly turn to big losses when markets sour, according to people close to the matter.

Citi plunged in the rankings for that part of the market during the third quarter to... More

Barclays plc (BCS) to name ex-JPMorgan (JPM) Staley as CEO - FT

Barclays plc (NYSE: BCS) to name ex-JPMorgan (NYSE: JPM) Staley as CEO, according to the Financial Times.

Trading Radar for 10/13: JPMorgan(JPM), Intel (INTC), J&J (JNJ), Fastenal (FAST), CSX Corp. (CSX) Report

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Earnings:

Adaptimmune Therapeutics (Nasdaq: ADAP) - consensus loss $0.08
Del Frisco's (Nasdaq: DFRG) - consensus EPS... More

Wall St. ends up slightly as focus turns to earnings

By Caroline Valetkevitch

(Reuters) - Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher as investors remained nervous about third-quarter corporate results.

The Dow rose for a seventh straight session, led by gains in UnitedHealth Group (NYSE: UNH), which rose 2.7 percent at $122.51.

This week brings results from some top U.S. banks, among other companies, and investors are eyeing a projected 4.8 percent year-over-year decline in third-quarter S&P 500 earnings, according to Thomson Reuters data. That would be the worst earnings season in six... More