FINWIRES · TerminalLIVE
FINWIRES
$BAC

$BAC

109 stories mentioning BACUpdated 4d ago

Every FINWIRES story that references BAC, newest first.

What are analysts saying about BAC?

Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.

What's the latest news on BAC?

Wire

Sector Update: Financial Stocks Mixed Wednesday Afternoon

Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally lower.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) was easing 0.1% to $63,442, and the yield for 10-year US Treasuries was slightly lower at 4.676%.In economic news, the consumer price index rose 3.4% last month from a year earlier, decelerating from 3.5% in June and marking the slowest pace of growth since March, data from the Bureau of Labor Statistics showed. The annual print matched the average forecast in a Bloomberg survey. Core inflation, which excludes volatile food and energy items, eased to 2.5%, also as expected, from June's 2.6%.In sector news, FIFA World Cup 2026 wagers helped double predictions market platform Kalshi's revenue to a more than $4 billion annualized rate last month, The Information reported. Kalshi is in late-state talks to raise fresh funding at a valuation of about $40 billion, the unnamed source told the news outlet, adding that the firm's operating expenses reached $300 million for June.In corporate news, Bank of America (BAC) plans to invest $250 billion in US infrastructure through its Critical Infrastructure Finance Initiative, the company said Wednesday. The investment will be made through lending, investments, capital markets and advisory transactions over an 18-month period from Jan. 1, 2026 through July 4, 2027, the company said. Bank of America shares were up 0.9%.Goldman Sachs (GS) said Wednesday it has agreed to buy exchange-traded fund provider Neos Investments for up to $2.25 billion in cash and equity. Goldman shares were up 0.4%.Blackstone (BX) is considering abandoning plans to raise about $3 billion of debt to return some cash to investors, Bloomberg reported. The firm has struggled to find a buyer for the equity portion of the deal, which is typically the riskiest part, Bloomberg reported. Separately, Blackstone and La Caisse are leading a 2.5 billion Canadian dollar ($1.8 billion) minority equity investment in Air Canada's Aeroplan loyalty program, valuing the business at CA$10 billion, the airline said Tuesday. Blackstone shares were down 1%.

$BAC$BX$GS
Wire

Bank of America to Acquire Up to 49.9% Stake in Jio Credit Limited

Bank of America (BAC) has signed a definitive agreement to acquire up to a 49.9% interest in Jio Financial Services' Jio Credit Limited subsidiary through a preferential allotment of equity shares and warrants, the companies said Wednesday.Price: $64.42, Change: $+0.42, Percent Change: +0.65%

$BAC
Wire

Bank of America to Acquire Up to 49.9% Stake in Jio Credit Limited

Bank of America to Acquire Up to 49.9% Stake in Jio Credit Limited

$BAC
Wire

Home Depot to Benefit From Professional Demand More than Lowe's in Q2, BofA Says

Home Depot's (HD) higher exposure to professional customers is expected to benefit it in Q2 more than Lowe's (LOW), BofA Securities said in a Monday note previewing the upcoming earnings of home improvement retailers.Based on aggregated spending data from Bank of America (BAC) credit and debit cards, spending on housing-related services, which BofA analysts used as a proxy for professional customer spending, continues to be higher than spending by do-it-yourself customers, and Housing-related services spending grew 5.5% in Q2 from 4% in the previous quarter, while home-improvement spending swung to 0.5% from negative 0.9% in the prior quarter, according to the note.Home Depot's Pro heavy business model should drive outperformance in Q2, and help it attain 2026 EPS near the midpoint of its guidance, the analysts said. Lowe's (LOW) is seen finishing the year at the lower end of its EPS outlook, given a downside risk to its margins in H2 if higher promotional rates are needed to attract customers.Further, the two companies are expected to use tariff refunds to help absorb supply chain costs, as well as potentially support promotions costs, the analysts said.BofA reiterated Home Depot's stock rating at buy and increased the price target to $412 from $374. The brokerage also reiterated Lowe's stock rating at neutral and lowered the price target to $256 from $257.Price: $349.32, Change: $-6.30, Percent Change: -1.77%

$BAC$HD$LOW
Wire

Market Chatter: Citigroup Hires Bank of America's Rohan Sen to Lead Tech Services Banking

Citigroup (C) has hired Rohan Sen from Bank of America (BAC) to lead technology services banking, Reuters reported Monday, citing an internal memo.Sen joins Citigroup after 11 years at Bank of America, where he was a managing director in technology investment banking, according to the report.Citigroup and Bank of America did not immediately respond to requests for comments from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $132.55, Change: $+0.77, Percent Change: +0.58%

$BAC$C
Most US Banks Beat Earnings Forecasts Amid Favorable Revenue Trends, Raymond James Says
US Markets

Most US Banks Beat Earnings Forecasts Amid Favorable Revenue Trends, Raymond James Says

Most reporting banks in the US have beaten earnings forecasts for the second quarter, driven by favorable revenue trends, Raymond James said in a report Monday.Some 66% of the 430 publicly traded banks have topped earnings-per-share estimates, said Raymond James' analysts, who used Friday as the cutoff date for their analysis. The banking industry reported a 74% beat rate in the first quarter and 77% in the year-ago period.Median revenue grew 3.9% quarter over quarter, up from 0.6% growth in the prior quarter but down from 4.9% a year earlier. Net interest income and fee revenue growth accelerated sequentially, but slowed year on year, according to the note."While elevated macro uncertainty continues to linger, asset quality remains broadly favorable," Raymond James said.Earlier in the month, big banks JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Citigroup (C), Wells Fargo (WFC) and Morgan Stanley (MS) beat second-quarter expectations, driven by investment banking and trading gains."With most 2026 outlooks largely reiterated and core fundamental drivers intact, consensus estimates continue to possess an upward bias, with a net 38% of 2026 estimates raised and a net 19% of 2027 estimates raised," Raymond James' analysts wrote.S&P 500 companies' second-quarter earnings growth reached 70%, driven by the information technology sector, where profits nearly tripled year on year, Oppenheimer Asset Management said Monday. The financials industry has seen earnings rise by 31% and revenue grow 17% annually.

$BAC$C$GS$JPM$MS$WFC
Update: Morgan Stanley Tops Second-Quarter Revenue Views on Investment Banking, Trading Gains
US Markets

Update: Morgan Stanley Tops Second-Quarter Revenue Views on Investment Banking, Trading Gains

(Updates to specify revenue beat in the headline.)Morgan Stanley's (MS) second-quarter revenue surpassed Wall Street's projections, with robust investment banking and trading gains driving the top-line higher year on year.Revenue surged 27% annually to $21.35 billion, while the FactSet-polled consensus was for $19.67 billion. Morgan Stanley reported earnings per share of $3.46 for the June quarter, compared with $2.13 a year earlier.Revenue in the institutional securities division, which accounted for more than half of the overall top line, rose to $11.04 billion from $7.64 billion in the prior-year period. Within that segment, investment banking revenue jumped 58% to $2.44 billion amid sharp gains in advisory and equity and fixed-income underwriting.Morgan Stanley was a book-running manager for the record initial public offering of Elon Musk's SpaceX (SPCX) in June.Equities trading revenue soared 69% to a record $6.3 billion."Excellent results in institutional securities were driven by our leading equities franchise with continued momentum in investment banking and fixed income," Chief Executive Ted Pick said in a statement.On Tuesday, JPMorgan Chase (JPM), Goldman Sachs (GS), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results amid gains in markets revenue and investment banking fees. BofA Securities had expected major US banks to top second-quarter earnings expectations on the back of capital markets activity.Morgan Stanley's wealth management revenue climbed 14% to $8.86 billion."Wealth management added a record $148 billion in net new assets, with total client assets across wealth and investment management reaching the $10 trillion milestone," Pick said in a statement.Shares of Morgan Stanley rose 1.2% in Wednesday trade. The stock has rallied 30% since the start of the year.Morgan Stanley declared a quarterly dividend of $1.15 per share, up $0.15 from the previous quarter, payable on Aug. 14.Price: $229.77, Change: $+2.10, Percent Change: +0.92%

$BAC$C$GS$JPM$MS$SPCX$WFC
Wire

Bank of America Seen Benefiting From Diversified Business Model, RBC Says

Bank of America (BAC) has a diversified business model and a low-cost deposit base that support stronger long-term earnings growth, RBC Capital Markets said in a note emailed Wednesday.The firm said Q2 results reflected positive operating leverage and organic growth, with revenue increasing 15% year over year while expenses rose a modest 8%, resulting in a 6.6% operating leverage.RBC said higher net interest income, stronger investment banking fees and higher asset management fees supported the quarter.The firm also noted improving credit quality, including a lower net charge-off ratio, lower commercial criticized exposure and a fifth consecutive quarterly improvement in credit card delinquencies.RBC maintained its outperform rating on Bank of America and raised its price target to $65 from $59.Price: $61.78, Change: $+1.16, Percent Change: +1.91%

$BAC
Morgan Stanley Tops Second-Quarter Views on Investment Banking, Trading Gains
US Markets

Morgan Stanley Tops Second-Quarter Views on Investment Banking, Trading Gains

Morgan Stanley's (MS) second-quarter revenue surpassed Wall Street's projections, with robust investment banking and trading gains driving the top-line higher year on year.Revenue surged 27% annually to $21.35 billion, while the FactSet-polled consensus was for $19.67 billion. Morgan Stanley reported earnings per share of $3.46 for the June quarter, compared with $2.13 a year earlier.Revenue in the institutional securities division, which accounted for more than half of the overall top line, rose to $11.04 billion from $7.64 billion in the prior-year period. Within that segment, investment banking revenue jumped 58% to $2.44 billion amid sharp gains in advisory and equity and fixed-income underwriting.Morgan Stanley was a book-running manager for the record initial public offering of Elon Musk's SpaceX (SPCX) in June.Equities trading revenue soared 69% to a record $6.3 billion."Excellent results in institutional securities were driven by our leading equities franchise with continued momentum in investment banking and fixed income," Chief Executive Ted Pick said in a statement.On Tuesday, JPMorgan Chase (JPM), Goldman Sachs (GS), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results amid gains in markets revenue and investment banking fees. BofA Securities had expected major US banks to top second-quarter earnings expectations on the back of capital markets activity.Morgan Stanley's wealth management revenue climbed 14% to $8.86 billion."Wealth management added a record $148 billion in net new assets, with total client assets across wealth and investment management reaching the $10 trillion milestone," Pick said in a statement.Shares of Morgan Stanley rose 1.2% in Wednesday trade. The stock has rallied 30% since the start of the year.Morgan Stanley declared a quarterly dividend of $1.15 per share, up $0.15 from the previous quarter, payable on Aug. 14.Price: $229.98, Change: $+2.31, Percent Change: +1.01%

$BAC$C$GS$JPM$MS$SPCX$WFC
Wire

Autonomous Research Adjusts Price Target on Bank of America to $61 From $59, Maintains Neutral Rating

Bank of America Corp (BAC) has an average rating of overweight and mean price target of $66.38, according to analysts polled by FactSet.Price: $61.26, Change: $+0.62, Percent Change: +1.02%

$BAC
Update: Equities Rise Following CPI Data, Big Bank Earnings
US Markets

Update: Equities Rise Following CPI Data, Big Bank Earnings

(Updates with market moves at the end of the day.)US stocks advanced Tuesday as investors cheered cooler-than-expected consumer inflation data and digested big banks' earnings reports.The Nasdaq Composite closed 0.9% higher at 26,107, while the S&P 500 rose 0.4% to 7,543.6. The Dow Jones Industrial Average settled just above the flatline at 52,508.3. Among sectors, technology paced the gainers, while healthcare saw the biggest drop.The US consumer price index declined 0.4% in June, its first monthly drop since May 2020 and the largest decline since April 2020, amid lower energy costs, official data showed. The consensus in a Bloomberg-compiled survey was for the index to move down by 0.1%.Annually, inflation cooled to 3.5% last month from May's 4.2%, compared with expectations for a 3.8% print."Investors and the Federal Reserve will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO said in a note.There's now an 83% likelihood that the Fed will keep its monetary policy unchanged at its July meeting, up from 58% Monday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase slid to 17% from 42%.US Treasury yields were lower intraday, with the two-year rate down 7.4 basis points at 4.19% and the 10-year rate falling 2.5 basis points to 4.59%.In corporate news, Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday.Goldman shares jumped 9%, the best performer on the Dow and the second-top gainer on the S&P 500. JPMorgan and Bank of America also advanced, while Citigroup and Wells Fargo fell.IBM (IBM) shares slumped 25%, the worst performer on the S&P 500 and the Dow. The computer and software company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."West Texas Intermediate crude oil was up 1.9% at $79.65 a barrel in Tuesday late-afternoon trade, while Brent rose 2.3% to $85.22.US President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump said a "full blockade" will be enforced on all ships coming to and from Iranian ports.Fed Chair Kevin Warsh vowed to curb high inflation straining American consumers and companies, affirming the central bank's commitment to restore price stability.Monetary policymakers "have no tolerance for persistently elevated inflation," Warsh said while speaking before a US House of Representatives committee. "If we get policy right -- and we will -- the inflation surge of the last five years will be a thing of the past."Gold was up 1.4% at $4,061.60 per troy ounce, while silver gained 2% to $59.15 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$IBM$JPM$WFC
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.3%.The Philadelphia Housing Index was up 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was gaining 3.6% to $64,499, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.585%.In economic news, the US seasonally adjusted consumer price index fell by 0.4% in June, compared with expectations of a 0.1% decline in a survey compiled by Bloomberg and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May.In corporate news, Switch, a data center operator, has hired Goldman Sachs (GS) and JPMorgan Chase (JPM) as lead underwriters for an IPO that could raise up to $10 billion as soon as Q4, valuing the company at roughly $80 billion, including debt, Reuters reported. Separately, Goldman's Q2 results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth. JPMorgan reported Q2 results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue. Goldman shares rose past 8%, and JPMorgan added 2.3%.Bank of America's (BAC) Q2 results beat Wall Street's estimates on Tuesday as increased client activity helped drive sharp gains in investment banking fees and trading revenue. Its shares climbed 2.1%.Warren Buffett said Tuesday that his goal is to dispose of all of his Berkshire Hathaway (BRK.A, BRK.B) shares within roughly eight years. The statement came alongside an announcement that Buffett on Tuesday will convert 8,000 Berkshire Class A shares into 12 million Berkshire Class B shares that will be donated to four foundations. Berkshire Class A shares were down 0.6%, and the Class B shares were shedding 0.8%.KKR (KKR) is one of several suitors to make a non-binding offer for Logoplaste, as the Portuguese packaging maker's majority shareholder works on a potential sale that could value it at about $1.94 billion, Bloomberg reported. Separately, Thomson Reuters (TRI) said Tuesday it has agreed to sell a 51% stake in its global print unit to KKR for roughly $500 million in a joint venture transaction expected to close in Q4. KKR shares were up 0.4%.

$BAC$BRK.A$BRK.B$GS$JPM$KKR
Equity Markets Mostly Rise Intraday After Inflation Data, Bank Earnings
US Markets

Equity Markets Mostly Rise Intraday After Inflation Data, Bank Earnings

US benchmark equity indexes were mostly higher intraday as traders assessed the latest inflation data and quarterly results of banking giants.The Nasdaq Composite was up 1.1% at 26,150.9 after midday Tuesday, while the S&P 500 rose 0.5% to 7,551.2. The Dow Jones Industrial Average fell 0.1% to 52,469.6. Among sectors, technology paced the gainers, while healthcare saw the biggest drop.The US consumer price index declined 0.4% in June, its first monthly drop since May 2020 and the largest decline since April 2020, amid lower energy costs, official data showed. The consensus in a Bloomberg-compiled survey was for the index to move down by 0.1%.Annually, inflation cooled to 3.5% last month from May's 4.2%, compared with expectations for a 3.8% print."Investors and the Federal Reserve will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO said in a note.There's now an 83% likelihood that the Fed will keep its monetary policy unchanged at its July meeting, up from 58% Monday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase slid to 17% from 42%.US Treasury yields were lower intraday, with the two-year rate down 5.1 basis points at 4.21% and the 10-year rate falling 2.5 basis points to 4.59%.In corporate news, Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday.Goldman shares were up 7.7% intraday, the best performer on the Dow and the second-top gainer on the S&P 500. JPMorgan and Bank of America were also higher, while Citigroup and Wells Fargo fell.IBM (IBM) shares slumped 25%, the worst performer on the S&P 500 and the Dow. The computer and software company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."West Texas Intermediate crude oil was up 1% at $78.88 a barrel, while Brent rose 1.5% to $84.54.US President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump also said a "full blockade" will be enforced on all ships coming to and from Iranian ports, while the strait remains open.Fed Chair Kevin Warsh vowed to curb high inflation straining American consumers and companies, affirming the central bank's commitment to restore price stability.Monetary policymakers "have no tolerance for persistently elevated inflation," Warsh said while speaking before a US House of Representatives committee. "If we get policy right -- and we will -- the inflation surge of the last five years will be a thing of the past."Gold was up 1.4% at $4,062.20 per troy ounce, while silver gained 1.7% to $58.96 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$IBM$JPM$WFC
Sectors

Sector Update: Financial Stocks Advance in Afternoon Trading

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%.Bitcoin (BTC-USD) was gaining 3.8% to $64,643, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.585%.In economic news, the US seasonally adjusted consumer price index fell by 0.4% in June, compared with expectations of a 0.1% decline in a survey compiled by Bloomberg and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May.In corporate news, Goldman Sachs' (GS) Q2 results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth. Goldman shares jumped past 7%.JPMorgan Chase (JPM) reported Q2 results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue. Its shares rose 1.9%.Bank of America's (BAC) Q2 results beat Wall Street's estimates on Tuesday as increased client activity helped drive sharp gains in investment banking fees and trading revenue. Its shares climbed 1.7%.

$BAC$GS$JPM
Wire

Top Midday Stories: June CPI Falls More Than Expected; IBM Shares Drop After Company Provides Update on Q2 Earnings 'Shortfall'

All three major US stock indexes were up in late-morning trading, as the big banks kicked off earnings season with strong reports and the latest consumer price index report showed inflation fell more than expected.The US seasonally adjusted consumer price index fell by 0.4% in June, compared to expectations of a 0.1% decline in a survey compiled by Bloomberg as of 7:35 a.m. ET and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May.In company news, IBM (IBM) said Tuesday it expects Q2 operating earnings of $2.93 per diluted share, up from $2.80 a year earlier but below the FactSet consensus analyst estimate of $3.01. Second-quarter revenue is expected to rise 1% to $17.2 billion, below the FactSet consensus of $17.86 billion. IBM Chief Executive Arvind Krishna said that most of Q2's "shortfall" was due to the company failing to close "numerous large deals" on expected timelines. The company is scheduled to release its Q2 results on July 22. IBM shares were down 26.1% around midday.JPMorgan Chase (JPM) reported Q2 earnings Tuesday of $7.70 per diluted share, up from $5.24 a year earlier and above the FactSet consensus of $5.59. Second-quarter revenue was $57.35 billion, up from $44.91 billion a year ago and above the FactSet consensus of $51.09 billion. JPMorgan shares were up 2.4%.Bank of America (BAC) reported Q2 earnings Tuesday of $1.21 per diluted share, up from $0.90 a year earlier and above the FactSet consensus of $1.13. Second-quarter revenue was $31.56 billion, up from $27.44 billion a year ago and above the FactSet consensus of $30.78 billion. Bank of America shares were up 2.5%.Wells Fargo (WFC) reported Q2 earnings Tuesday of $2.00 per diluted share, up from $1.60 a year earlier and above the FactSet consensus of $1.72. Second-quarter revenue was $22.62 billion, up from $20.82 billion a year ago and above the FactSet consensus of $21.86 billion. Wells Fargo shares were down 2.2%.Citigroup (C) reported Q2 net income Tuesday of $3.15 per diluted share, up from $1.96 a year earlier and above the FactSet consensus of $2.74. Second-quarter revenue was $24.77 billion, up from $21.67 billion a year ago and above the FactSet consensus of $23.74 billion. Citigroup shares were down 4.3%.Goldman Sachs (GS) reported Q2 earnings Tuesday of $20.98 per diluted share, up from $10.91 a year earlier and above the FactSet consensus of $14.51. Second-quarter revenue was $20.34 billion, up from $14.58 billion a year ago and above the FactSet consensus of $16.23 billion. Goldman shares were up 7.7%.Uber Technologies (UBER) is in advanced talks to buy Delivery Hero, with the ride-sharing giant aiming to reach an agreement as soon as this week, Bloomberg reported Tuesday, citing people familiar with the matter. A deal would likely value the German food-delivery company well above its recent trading price of about 36 euros ($41.23) per share, the report said, citing the people. Uber shares were down 2.5%.The US has approved the sale of Nvidia (NVDA) and Advanced Micro Devices (AMD) advanced AI hips to a ZTE unit and two other Chinese firms, Reuters reported Tuesday, citing documents and two sources familiar with the matter. Nvidia shares were up 2.6%, while AMD shares were up 5.6%.Price: $214.15, Change: $-76.08, Percent Change: -26.21%

$AMD$BAC$C$GS$IBM$JPM$NVDA$UBER$WFC
Goldman Tops Second-Quarter Views Amid Record Global Banking, Markets Revenue
US Markets

Goldman Tops Second-Quarter Views Amid Record Global Banking, Markets Revenue

Goldman Sachs' (GS) second-quarter results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth.Earnings per share for the June quarter jumped to a record $20.98 from $10.91 a year earlier, well above the FactSet-polled consensus of $14.51. Net revenue surged 39% to $20.34 billion, while analysts expected $16.23 billion.Revenue in Goldman's global banking and markets segment jumped 53% year over year to $15.52 billion, with the equities business delivering a 72% increase to $7.42 billion. Investment banking fees grew 55% to $3.4 billion, reflecting strength in equity and debt underwriting, as well as in advisory.Large-cap corporate merger and acquisition volumes soared 90% through the first half of 2026, Chief Executive David Solomon said during an earnings conference call, according to a FactSet transcript."We have further expanded our lead as the number one M&A advisor, and earlier this year became the first bank to cross the $1 trillion in announced volumes over a six month period," Solomon said. "This long standing leadership, combined with our One Goldman Sachs operating ethos, creates a real multiplier effect."Shares of the bank were up 7.5% intraday Tuesday. The stock has risen about 28% so far this year.The equities business got a boost amid shifting market dynamics and elevated activity levels, Solomon said. "Client activity was particularly strong in Asia, driven in part by robust (artificial intelligence) capital formation and investment," he told analysts.JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday amid gains in markets revenue and investment banking fees.BofA Securities said last week that major US banks could top second-quarter earnings expectations on the back of capital markets activity.Revenue in Goldman's asset and wealth management segment rose 20% to $4.6 billion.Price: $1121.99, Change: $+76.08, Percent Change: +7.27%

$BAC$C$GS$JPM$WFC
Citigroup Second-Quarter Results Top Estimates Amid Double-Digit Revenue Growth Across Most Segments
US Markets

Citigroup Second-Quarter Results Top Estimates Amid Double-Digit Revenue Growth Across Most Segments

Citigroup (C) reported stronger-than-expected second-quarter financial results Tuesday, driven by double-digit revenue growth across four of its five primary business segments.Earnings rose to $3.15 a share for the June quarter from $1.96 a year earlier, exceeding the FactSet-polled consensus of $2.74. Net revenue grew 14% to $24.77 billion, ahead of the Street's $23.74 billion view."With net income up 45%, this was Citi's best quarterly revenue in a decade with double-digit revenue growth for the firm and in four out of our five businesses," Chief Executive Jane Fraser said in a statement Tuesday.Citigroup shares were up 2% in Tuesday trade and have gained 21% this year.Markets revenue rose 17% to $7.01 billion as equity market revenue surged 45% year over year to $2.30 billion.Services business revenue climbed 18% to $6.38 billion amid an 18% gain in treasury and trade solutions and a 16% increase in securities services.Banking saw the biggest annual gain as revenue jumped 34% to $1.92 billion, buoyed by 44% growth in investment banking despite a decline in corporate lending.Wealth revenue increased 13% to $3.18 billion, while US consumer cards grew 1% to $4.52 billion.Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC) and JPMorgan Chase (JPM) posted stronger-than-expected second-quarter results Tuesday, driven by a surge in markets revenue and investment banking fees.For 2026, Citigroup said it continues to expect net interest income excluding markets to grow by 5% to 6% year over year, amid continued fee momentum in services, banking and wealth, partially offset by US consumer cards.The company's "growing earnings generation" will support a planned 12% dividend increase alongside the launch of a $30 billion share buyback program, Fraser said."The combination of our investments, disciplined execution and focus on clients is improving our returns and creating more durable results for our investors," she said.Price: $143.38, Change: $+2.67, Percent Change: +1.90%

$BAC$C$GS$JPM$WFC
Wells Fargo Beats Second-Quarter Estimates Amid Broad-Based Revenue Growth
US Markets

Wells Fargo Beats Second-Quarter Estimates Amid Broad-Based Revenue Growth

Wells Fargo (WFC) joined other Wall Street banks that reported above-consensus second-quarter results on Tuesday amid broad-based revenue growth, while Chief Executive Charlie Scharf said consumers and businesses remain "very strong" despite inflation concerns.The lender posted earnings of $2 a share for the June quarter, up from $1.60 a year ago and surpassing the FactSet-polled consensus of $1.72. Overall revenue increased 9% to $22.62 billion, topping the Street's view for $21.86 billion.Net interest income rose 5% to $12.32 billion, while noninterest income climbed 13% to $10.31 billion.All of Wells Fargo's operating segments generated strong revenue growth, Scharf said in an earnings release. "We are clearly benefitting from the broad-based economic strength we see in the US, but the investments we are making and our improved operating discipline also drove strong momentum in our key business metrics across all operating segments again this quarter," he said.Wells Fargo's corporate and investment banking revenue climbed 16% to $5.43 billion, buoyed by gains of 20% and 36% in lending and investment banking, respectively. Markets revenue increased 24% from a year ago.JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS) and Citigroup (C) beat second-quarter expectation Tuesday, driven by a surge in markets revenue and investment banking fees.BofA Securities said last week that major US banks could top second-quarter earnings expectations amid gains from capital markets activity."Consumer spending is higher, charge-offs and delinquencies are lower, and savings and investments are growing across consumer segments," Scharf said. "Equity indices are at or near all-time highs, credit spreads are narrow, and there is a significant amount of liquidity being deployed by banks and non-banks. Concerns around affordability and inflation exist, but the labor market and wage growth remain strong."These favorable conditions won't persist forever "so we are being selective about how much and where to grow," Scharf said.Revenue in Wells Fargo's consumer banking and lending segment added 6% to $10.29 billion, while commercial banking revenue rose by the same percentage to $3.12 billion. The wealth and investment management division logged growth of 13% to $3.89 billion.The lender continues to project net interest income of about $50 billion for 2026, it said in an earnings presentation.Price: $88.19, Change: $+0.52, Percent Change: +0.59%

$BAC$C$GS$JPM$WFC
JPMorgan Second-Quarter Results Top Views as Trading, Investment Banking Drive Growth
Wire

JPMorgan Second-Quarter Results Top Views as Trading, Investment Banking Drive Growth

JPMorgan Chase (JPM) reported second-quarter results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue.The banking giant posted earnings of $7.70 a share for the quarter ended June, up from $5.24 a year earlier and the FactSet-polled consensus of $5.59. Consolidated revenue jumped 28% to $57.35 billion, topping the average analyst estimate of $51.09 billion."These results were the product of a particularly favorable environment with an elevated level of market activity," Chief Executive Jamie Dimon said in the earnings release. "Performance was strong across the firm, and revenue in each line of business hit a new record."Revenue in the commercial and investment banking segment advanced to $24.85 billion from $19.54 billion in the prior-year period. Investment banking revenue gained 45% to $3.9 billion on the back of fees that reached the highest level since 2021 and net gains on equity investments.Markets revenue increased 35% to $12.1 billion amid increased client activity, strong trading performance and demand for financing in equities, Dimon said.The US economy has "demonstrated notable resiliency" this year amid robust business investment and hiring, supported by tailwinds including artificial intelligence-driven capital spending, Dimon said."However, several risks are shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices," he added.Tensions between the US and Iran recently renewed over the Strait of Hormuz, weeks after they signed a memorandum of understanding to end their war that began at the end of February.Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C) posted stronger-than-expected second-quarter results Tuesday, driven by a surge in markets revenue and investment banking fees.BofA Securities said last week that major US banks could top second-quarter earnings expectations amid gains from capital markets activity.JPMorgan's consumer and community banking revenue rose 8% to $20.27 billion in the second quarter. Assets under management gained 18% to $5.1 trillion, boosted by higher market levels and net inflows.JPMorgan on Tuesday raised its 2026 net interest income outlook to about $105.5 billion from $103 billion. The bank now expects full-year adjusted expenses at about $107.5 billion, compared with $105 billion previously expected.Price: $341.69, Change: $+7.22, Percent Change: +2.16%

$BAC$C$GS$JPM$WFC
Sectors

Sector Update: Financial Stocks Lean Lower Pre-Bell Tuesday

Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% higher.JPMorgan Chase (JPM) stock was down nearly 2% even after the company reported higher Q2 earnings and revenue.Goldman Sachs (GS) shares were up more than 3% after the company posted higher Q2 earnings and revenue.Bank of America (BAC) stock was up 0.2% after the company reported higher Q2 earnings and revenue.

$BAC$FAS$FAZ$GS$JPM$XLF

Showing 21-40 of 109

Track with the FINWIRES app suite

FolioX
FolioX
Track BAC in your portfolio
WheelAI
WheelAI
Analyze BAC options with the wheel strategy
StockInsider
StockInsider
See market sentiment on BAC