Powell's speech, Bitcoin, retail sales - what's moving markets

Charles Schwab Corp. (SCHW) PT Lowered to $66 at BofA Securities

BofA Securities analyst Craig Siegenthaler lowered the price target on Charles Schwab Corp. (NYSE: SCHW) to $66.00 (from $72.00) while maintaining a Underperform rating.

The analyst comments "SCHW once again missed on deposit growth which drove supplemental funding higher in the quarter... More

Charles Schwab Corp. (SCHW) PT Lowered to $78 at JPMorgan

JPMorgan analyst Kenneth Worthington lowered the price target on Charles Schwab Corp. (NYSE: SCHW) to $78.00 (from $82.00) while maintaining a Overweight rating.

The analyst comments "Schwab reported 2Q24 adj. EPS of $0.73, generally in line with our and Bloomberg consensus expectations, with slightly better net interest income and adj. expenses. While the headline results were largely in line, underlying trends... More

Charles Schwab Corp. (SCHW) PT Lowered to $79 at Deutsche Bank

Deutsche Bank analyst Brian Bedell lowered the price target on Charles Schwab Corp. (NYSE: SCHW) to $79.00 (from $84.00) while maintaining a Buy rating.

The analyst comments "Positively, mgmt cited early July trends are showing some signs of normalization in NNA and mgmt reiterated... More

Bank of America (BAC) PT Raised to $46 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the price target on Bank of America (NYSE: BAC) to $46.00 (from $43.00) while maintaining a Outperform rating.

The analyst comments "Shares of BAC popped over 5% as investors got a better feel for how NII could expand in 2025 plus some... More

Bank of America (BAC) PT Raised to $46 at RBC Capital

RBC Capital analyst Gerard Cassidy raised the price target on Bank of America (NYSE: BAC) to $46.00 (from $39.00) while maintaining a Outperform rating.

The analyst comments "BAC's diversified business model continues to demonstrate its ability to navigate through uncertain times. Its core business of... More

Bank of America (BAC) PT Raised to $48 at Argus

Argus analyst Stephen Biggar raised the price target on Bank of America (NYSE: BAC) to $48.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "Raising target to $48 as investment banking recovery continues On July 16, the company reported 2Q24 earnings of $0.83 per share,... More

Morgan Stanley (MS) PT Raised to $124 at CFRA

CFRA analyst Ken Leon raised the price target on Morgan Stanley (NYSE: MS) to $124.00 (from $108.00) while maintaining a Buy rating.

The analyst comments "We are confident MS will significantly benefit from investment banking. We raise our target $16 to $124 on a forward P/E of... More

CFRA Downgrades Bank of America (BAC) to Sell

CFRA analyst Kenneth Leon downgraded Bank of America (NYSE: BAC) from Hold to Sell with a price target of $39.00 (from $38.00).

The analyst comments "We raise our target $1 to $39, on a forward P/E of 11.5x our 2025 earnings estimate, in line with the three-year historic average and a... More

Jefferies on Charles Schwab Corp. (SCHW): 'Cash Levels Still Declining'

Jefferies analyst Daniel Fannon reiterated a Buy rating and $88.00 price target on Charles Schwab Corp. (NYSE: SCHW)

The analyst comments "SCHW reported 2Q24 adj EPS of $0.73 (JEF $0.71/Cons $0.73). Revs were modestly below expectations (-$14M vs Cons) while lower exp's were... More

Citi on Morgan Stanley (MS): 'ISG Drives Strong Core Beat'

Citi analyst Keith Horowitz reiterated a Neutral rating and $98.00 price target on Morgan Stanley (NYSE: MS).

The analyst comments "MS reported a core beat to expectations as ISG top line came in stronger than expectations, particularly on debt underwriting and equities markets.... More

Bank of America (BAC) posts earnings beat as global markets business revenue growth continues

Bank of America (NYSE: BAC) reported a slight earnings and revenue beat for the second quarter, with earnings per share (EPS) of $0.83, surpassing the analyst estimate of $0.80.

The company's revenue for the quarter also exceeded expectations, coming in at $25.4 billion against the consensus estimate of $25.24 billion.

Despite the positive results, net income fell to $6.9 billion from $7.4 billion in the same quarter last year, a decrease attributed to higher deposit costs and increased provisions for credit losses.

The bank's revenue, net... More

Goldman Sachs (GS) PT Raised to $520 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the price target on Goldman Sachs (NYSE: GS) to $520.00 (from $475.00) while maintaining a Outperform rating.

The analyst comments "GS 2Q24 $8.62 EPS ($8.41 ex-items) vs. Our/Street of $8.58/$8.35: The most positive takeaways from the earnings call was 1) the constructive outlook on a pickup in IB activity with significant q/q increase in the backlog and client demand in committed financing activity, 2) the bigger... More