Bank of America (BAC) PT Raised to $35 at Goldman Sachs, 'Much better operating trends than feared'
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Credit Suisse Mixed on Bank of America (BAC), 'we continue to anticipate a mild recession'
July 18, 2023 4:52 PM EDTCredit 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
Stock market today: Dow extends gains as banks shine, Microsoft hits record high
July 18, 2023 4:14 PM EDTInvesting.com -- The S&P 500 delivered swashbuckling gains Tuesday as investors cheered better-than-expected quarterly results from a slew of major corporations including Wall Street banks and a record high in Microsoft amid AI-optimism.
The Dow Jones Industrial Average rose 1.1%, or 366 points, the Nasdaq was up 0.8%, and the S&P 500 rose 0.7% to end the day at 52-week highs.
Wall Street banks continue to impress on earnings stage
Bank of America Corp (NYSE: BAC) led the move higher in banking stocks, rising more than 4% after reporting second-quarter earnings that topped... More
S&P 500 rides rally in banks higher
July 18, 2023 4:12 PM EDTInvesting.com -- The S&P 500 jumped Tuesday as investors cheered better-than-expected quarterly results from a slew of major corporations including Wall Street banks.
The S&P 500 rose 0.8%, the Dow Jones Industrial Average rose 1%, or 359 points, and the Nasdaq was up 0.9%.
Wall Street banks continue to impress on earnings stage
Bank of America Corp (NYSE: BAC) led the move higher in banking stocks, rising more than 4% after reporting second-quarter earnings that topped analyst estimates as higher interest rates boosted loan income.
... MoreCFRA Downgrades Bank of America (BAC) to Hold
July 18, 2023 10:14 AM EDTCFRA analyst Kenneth Leon downgraded Bank of America (NYSE: BAC) from Buy to Hold.
"We lower our target by $9 to $32 on a forward P/E of 9.9x our 2024 EPS estimate, in line with the peer average. We forecast BAC's 2H 2023 will realize slower growth than... More
U.S. stocks are mixed as investors soak in bank earnings reports
July 18, 2023 10:11 AM EDTInvesting.com -- U.S. stocks are mixed as investors took in earnings reports from Bank of America, Morgan Stanley , and other big financial firms.
At 9:39 ET (13:39 GMT), the Dow Jones Industrial Average rose 57 points or 0.2%, while the S&P 500 was down less than 0.1% and the NASDAQ Composite fell 0.4%.
Bank earnings continue to roll out
Bank of America Corp. (NYSE:... More
Active options: BAC TSLA AMZN NVDA AAPL SCHW AMD VZ PLTR RIVN
July 18, 2023 10:05 AM EDTActive options: BAC TSLA AMZN NVDA AAPL SCHW AMD VZ PLTR RIVN
... MoreBank of America, Pinterest, Chipotle rise premarket; Morgan Stanley falls
July 18, 2023 8:18 AM EDTInvesting.com -- U.S. futures edged lower Tuesday, with investors digesting a deluge of corporate earnings ahead of the release of retail sales and industrial production data.
Here are some of the biggest premarket U.S. stock movers today:
Bank of America (BAC) pops on earnings beat, strong trading revenue
July 18, 2023 6:53 AM EDTBank of America (NYSE: BAC) reported stronger-than-expected results for its second quarter to push its shares modestly higher in pre-open Tuesday.
Earnings per share came in at $0.88, ahead of the consensus of $0.84. Revenue rose 11% year-over-year to $25.2 billion, ahead of the consensus of $25.02B.
Net interest income FTE surged to $14.3... More
Bank of America (BAC) Tops Q2 EPS by 4c
July 18, 2023 6:46 AM EDTBank of America (NYSE: BAC) reported Q2 EPS of $0.88, $0.04 better than the analyst estimate of $0.84. Revenue for the quarter came in at $25.2 billion versus the consensus estimate of $25.02 billion.
For earnings history and earnings-related data on Bank of America (BAC) click here.
... MoreEarnings wave, Novartis guidance, ARK's Twitter stake - what's moving markets
July 18, 2023 5:38 AM EDTInvesting.com -- Investors look ahead to a busy week of earnings, including quarterly results from some of the largest U.S. banks. Meanwhile, drug-making giant Novartis improves its guidance as it eyes a spin-off of its Sandoz generics division later this year, and Cathie Wood says her ARK investment management firm has written down its stake in Twitter.
1. Bank of America, Morgan Stanley on... More
European stocks drift in subdued session; key U.S. earnings due later
July 18, 2023 4:54 AM EDTInvesting.com - European stock markets drifted in subdued trading Tuesday, with investors looking forward to more corporate earnings while worries over the Chinese economic recovery continue to linger.
At 03:20 ET (07:20 GMT), the DAXÂ index in Germany traded 0.1% lower, while the FTSE 100Â in the U.K. gained 0.1% and the CAC 40Â in France rose 0.1%.
Chinese worries remain
With little in the way of economic data due in Europe Tuesday, worries over the health of the Chinese economy, the world's second-largest, in the wake of its disappointing growth data have... More
Stock market today: Dow rises as banks, tech shine, but telecoms stifle gains
July 17, 2023 4:42 PM EDTInvesting.com -- The Dow closed higher Monday, led by tech and financials as investors looked ahead to more quarterly results from Wall Street banks and other major corporations later this week, though broader market gains were kept in check by a stumble in telecoms.
The Dow Jones Industrial Average rose 0.2%, or 76 points, the Nasdaq was up 0.9%, and the S&P 500 rose 0.3%.
Financials rally ahead of earnings from Bank of America, Morgan Stanley and Goldman Sachs
Financials... More
Retail sales, Bank of America earnings, Lockheed Martin: 3 things to watch
July 17, 2023 4:12 PM EDTInvesting.com -- Stocks are rising on Monday ahead of a big week of earnings including Goldman Sachs (NYSE: GS), Tesla (NASDAQ: TSLA), and Netflix (NASDAQ: NFLX).
Investors are studying earnings for clues about business and consumer spending trends. Goldman is expected to be affected by a slump in deal... More
S&P 500 rises as financials, tech shine ahead of further earnings parade this week
July 17, 2023 3:53 PM EDTInvesting.com -- The S&P 500 racked up gains Monday, led by tech and financials as investors looked ahead to more quarterly results from Wall Street banks and other major corporations later this week.
The S&P 500 rose 0.4%, the Dow Jones Industrial Average rose 0.2%, or 79 points, and the Nasdaq was up 0.9%.
Financials rally ahead of Bank of America, Morgan Stanley and Goldman Sachs
Financials rallied more than 1% as investors anticipate further signs of the strength in... More
Bank of America (BAC) July option implied volatility into quarter results
July 17, 2023 11:04 AM EDTBank of America (NYSE: BAC) July call option implied volatility is at 46, August is at 28; compared to its 52-week range of 22 to 51 into the expected release of quarter results before the bell on July 18.
... MoreDow Jones, Nasdaq, S&P 500 weekly preview: Big Tech takes the stage
July 17, 2023 8:49 AM EDTS&P 500 (SPX) hit fresh 15-month highs last week before the bulls managed to secure the first close above the 4500 mark for the first time since March 2022. The index rose 2.4% as Big Tech stocks continue to lead the way higher.
Nasdaq Composite Index (IXIC) surged 3.3% last week to also print 15-month highs amid increasing investor optimism surrounding the generative AI revolution. Dow Jones Industrial Average (DJI) rose 2.3% as it still attempts to break the 34500 near-term resistance.
The U.S. equity markets received another boost last week after Junes CPI report showed inflation rose just 0.2%, less than... More
U.S. corporate earnings ahead, Chinese GDP underwhelms - what's moving markets
July 17, 2023 7:05 AM EDTInvesting.com -- Investors prepare for a raft of fresh corporate earnings this week that will include some of the largest U.S. banks and major tech industry players. Elsewhere, Chinese quarterly growth figures provide further evidence of the country's sputtering recovery from the pandemic. Plus, Microsoft signs a licensing agreement with PlayStation over the "Call of Duty" gaming franchise that could bring the tech giant's mega-merger with Activision Blizzard one step closer to completion.
1. U.S. stock futures mixed
U.S. stock futures were mixed on Monday as investors looked... More
Bank of America (BAC) July 29 straddle into quarter results
July 17, 2023 5:08 AM EDTBank of America (NYSE: BAC) July 29 straddle is priced for a move of 4% into the expected release of quarter results before the bell on July 18.
... MoreEuropean stocks fall after underwhelming Chinese growth data; earnings to ramp up
July 17, 2023 4:25 AM EDTInvesting.com - European stock markets retreated Monday after the release of underwhelming Chinese growth data, while the second-quarter earnings season gets underway in earnest.
At 03:30 ET (07:30 GMT), the DAXÂ index in Germany traded 0.2% lower, the FTSE 100Â in the U.K. traded down 0.1% and the CAC 40Â in France fell 0.7%.
Chinese growth slowing sharply
Sentiment in Europe has been hit Monday by the release of data showing that economic growth in China, a major export market for Europes largest companies, slowed substantially through the second quarter.
... More