Earnings wave, Novartis guidance, ARK's Twitter stake - what's moving markets

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Go back to Earnings wave, Novartis guidance, ARK's Twitter stake - what's moving markets

Credit Suisse Mixed on Bank of America (BAC), 'we continue to anticipate a mild recession'

July 18, 2023 4:52 PM EDT

Credit Suisse analyst Susan Roth Katzke reiterated an Outperform rating and $42.00 price target on Bank of America (NYSE: BAC).

The analyst comments "Earlier today Bank of America reported second quarter earnings of $0.88 per shareabove CS at $0.85 and the FactSet consensus at $0.84. Upside relative to our forecast was revenuedriven; credit costs were manageable and lower than forecast (less LLR build,... More

PNC Financial Services (PNC) slides after revenue miss, guidance cut

July 18, 2023 9:08 AM EDT

PNC Financial Services (NYSE: PNC) shares are down more than 3% premarket Tuesday after it missed revenue expectations and cut its forecast for net interest income. However, it topped second-quarter earnings expectations.

The bank reported Q2 EPS of $3.36, $0.07 better than the analyst estimate... More

Morgan Stanley (MS) revenue boosted by wealth management division

July 18, 2023 8:34 AM EDT

Morgan Stanley (NYSE: MS) shares have edged lower premarket despite topping earnings and revenue expectations in the second quarter.

The bank reported earnings per share of $1.24, $0.01 better than the analyst estimate of $1.23, but down from $1.39 in the same period last year.... More