September rate cut, bank earnings, Biden presidential bid - what’s moving markets

BlackRock (BLK) PT Lowered to $912 at Deutsche Bank

Deutsche Bank analyst Brian Bedell lowered the price target on BlackRock (NYSE: BLK) to $912.00 (from $924.00) while maintaining a Buy rating.

The analyst comments "Overall, we believe investors will continue to focus on when the firm will return to sustainable 5% organic base... More

Goldman Sachs (GS) PT Raised to $520 at Argus

Argus analyst Stephen Biggar raised the price target on Goldman Sachs (NYSE: GS) to $520.00 (from $465.00) while maintaining a Buy rating.

The analyst comments "Raising target to $520 following 2Q results On July 15, Goldman reported 2Q24 earnings of $8.62 per share, up from $3.08 a year earlier and above the... More

Wolfe Research on Goldman Sachs (GS): '2Q24 First Look: Mixed Bag'

Wolfe Research analyst Steven Chubak reiterated a Peerperform rating on Goldman Sachs (NYSE: GS).

The analyst comments "GS 2Q Summary: GS reported 2Q EPS of $8.62; ex. specials / impact of businesses GS intends to exit, the firm noted core EPS of $8.41, compared to... More

Citi (C) PT Raised to $72 at Argus

Argus analyst Stephen Biggar raised the price target on Citi (NYSE: C) to $72.00 (from $70.00) while maintaining a Buy rating.

The analyst comments " Raising target to $72 following 2Q results On July 12, Citigroup reported adjusted 2Q24 earnings from continuing operations of $1.57 per share, up from $1.33... More

Bank of New York Mellon (BK) PT Raised to $63 at Deutsche Bank

Deutsche Bank analyst Brian Bedell raised the price target on Bank of New York Mellon (NYSE: BK) to $63.00 (from $61.00) while maintaining a Hold rating.

The analyst comments "In our 2Q24 preview, we had cited BK shares as best-positioned into 2Q and we view BK's 2Q results as being relatively solid... More

Bank of New York Mellon (BK) PT Raised to $74 at Goldman Sachs

Goldman Sachs analyst Alexander Blostein raised the price target on Bank of New York Mellon (NYSE: BK) to $74.00 (from $66.00) while maintaining a Buy rating.

The analyst comments "Following BK's 2Q24 EPS beat, we reiterate our Buy rating on the stock. We believe the firm's results continue to underscore... More

Bank of New York Mellon (BK) PT Raised to $66 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the price target on Bank of New York Mellon (NYSE: BK) to $66.00 (from $61.00) while maintaining a In Line rating.

The analyst comments "Shares of BK popped over 5% Friday as a 2Q print cemented a strong 1H24... More

Wells Fargo (WFC) stock falls as Q2 net interest income decreases due to higher rates

Wells Fargo (NYSE: WFC) reported a second-quarter earnings beat, with an adjusted EPS of $1.33, surpassing the analyst consensus of $1.28. Despite the positive earnings surprise, the bank's stock experienced a notable decline, falling 5.57% following the announcement.

CEO Charlie Scharf highlighted the bank's transformation efforts, which were evident in the growth of fee-based revenue, strong performance in investment advisory, trading, and investment banking fees.

However, net interest income saw a 9%... More