$TFC

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Top Midday Stories: Hormuz Strait Temporarily Open to Commercial Ships; Netflix Reports Strong Q1 Earnings, But Guidance Disappoints

All three major US stock indexes were up sharply in late-morning trading Friday, as Iran Foreign Minister Seyed Abbas Araghchi said on X that the Strait of Hormuz is completely open to commercial ships for the remaining period of the ceasefire between the US and Iran.In company news, Netflix (NFLX) reported Q1 earnings late Thursday of $1.23 per diluted share, up from $0.66 a year earlier and above the FactSet consensus analyst estimate of $0.76. First-quarter revenue was $12.25 billion, up from $10.54 billion a year ago and above the FactSet consensus of $12.18 billion. For Q2, the company said it expects EPS of $0.78 on revenue of $12.57 billion. Analysts polled by FactSet expect $0.84 and $12.64 billion, respectively. The company also said Chairman and Co-founder Reed Hastings said he will not stand for re-election to the board when his term expires in June. Netflix shares were down 9.4% around midday.Intel's (INTC) stock was up in morning trading Friday, touching $6.97 earlier, its highest level since August 2000. Intel shares were up 2.6%.Alcoa (AA) reported Q1 adjusted earnings late Thursday of $1.40 per share, down from $2.15 a year earlier and below the FactSet consensus of $1.53. First-quarter revenue was $3.19 billion, down from $3.37 billion a year ago and below the FactSet consensus of $3.28 billion. Alcoa shares were down 7.5%.Autoliv (ALV) reported Q1 adjusted earnings Friday of $2.05 per diluted share, down from $2.15 a year earlier but above the FactSet consensus of $1.83. First-quarter revenue was $2.75 billion, up from $2.58 billion a year ago and above the FactSet consensus of $2.62 billion. For full-year 2026, the company said it expects adjusted operating margin of about 10.5% to 11% and operating cash flow of around $1.2 billion. Autoliv shares were up 9.9%.Truist Financial (TFC) reported Q1 earnings Friday of $1.09 per diluted share, up from $0.87 a year earlier and above the FactSet consensus of $1.00. First-quarter revenue was $5.15 billion, up from $4.90 billion a year ago but below the FactSet consensus of $5.16 billion. Truist shares were up 1.8%.Fifth Third Bancorp (FITB) reported Q1 earnings Friday of $0.15 per diluted share, down from $0.71 a year earlier and compared to the FactSet consensus of a loss of $0.10. First-quarter revenue was $2.83 billion, up from $2.14 billion a year ago but below the FactSet consensus of $2.85 billion. For full-year 2026, Fifth Third said it expects net interest income of $8.7 billion to $8.8 billion and noninterest income of $4.0 billion to $4.2 billion. For Q2, the company said it expects net interest income of $2.20 billion to $2.25 billion and noninterest income of $1.00 billion to $1.06 billion. Fifth Third shares were up 1.8%.Price: $97.13, Change: $-10.66, Percent Change: -9.89%

$AA$ALV$FITB$INTC$NFLX$TFC

Asia Markets149d ago

Israel-Lebanon Ceasefire, S&P 500's Record Close Drive US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Friday as a 10-day ceasefire between Israel and Lebanon went into effect while the S&P 500 and Nasdaq Composite posted new all-time highs on Thursday.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.The halt of Israel's attacks on Lebanon has been an important condition for the resumption of US-Iran talks, which President Donald Trump said could occur "probably, maybe, next weekend" in remarks made outside the White House on Thursday. Trump also said that a deal with Iran could be finalized ideally before the US-Iran ceasefire ends on Tuesday, but he was willing to extend if necessary.The S&P 500 gained 0.3% to close at 7,041.28, while the Nasdaq advanced 0.4% to end at 24,102.70.Traders took note of results from two major banks, with Truist Financial (TFC) reporting higher Q1 earnings and revenue and Fifth Third Bancorp (FITB) posting lower Q1 earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.2% at $95.17 per barrel and US West Texas Intermediate crude 4.9% lower at $90.08 per barrel.Federal Reserve San Francisco President Mary Daly, Richmond President Thomas Barkin, and Governor Christopher Waller are scheduled to speak on Friday.In other world markets, Japan's Nikkei closed 1.8% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Netflix (NFLX) stock was down 9.5% after the company issued Q2 guidance late Thursday that fell short of analysts' consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June. Exelon (EXC) shares were 1.6% lower after the company's stock rating was downgraded by Mizuho, Barclays and BMO Capital.On the winning side, Eli Lilly (LLY) stock was up 1.9% after the company said its experimental drug Foundayo met its primary endpoint of a phase 3 clinical trial by showing a lower risk of severe cardiovascular incidents compared with insulin glargine in adults with type 2 diabetes. Oracle (ORCL) shares were up 2.6% after the company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon (AMZN) Web Services.

Dow JonesNasdaq CompositeS&P 500$AMZN$EXC$FITB$LLY$NFLX$ORCL$TFC

Japan149d ago

Israel-Lebanon Truce, S&P 500's Record Close Drive US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Friday as a 10-day ceasefire between Israel and Lebanon went into effect while the S&P 500 and Nasdaq Composite posted new all-time highs on Thursday.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The halt of Israel's attacks on Lebanon has been an important condition for the resumption of US-Iran talks, which President Donald Trump said could occur "probably, maybe, next weekend" in remarks made outside the White House on Thursday. Trump also said that a deal with Iran could be finalized ideally before the US-Iran ceasefire ends on Tuesday, but he was willing to extend if necessary.The S&P 500 gained 0.3% to close at 7,041.28, while the Nasdaq advanced 0.4% to end at 24,102.70.Traders took note of results from two major banks, with Truist Financial (TFC) reporting higher Q1 earnings and revenue and Fifth Third Bancorp (FITB) posting lower Q1 earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.4% at $95.97 per barrel and US West Texas Intermediate crude 4.2% lower at $90.73 per barrel.Federal Reserve San Francisco President Mary Daly, Richmond President Thomas Barkin, and Governor Christopher Waller are scheduled to speak on Friday.

Dow JonesNasdaq CompositeS&P 500$FITB$TFC

US Markets149d ago

Stocks Rise Pre-Bell as President Trump Signals Optimism on Iran Deal Prospects

The benchmark US stock measures were pointing higher before the open Friday after President Donald Trump reportedly expressed optimism over prospects for a peace deal with Iran.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.4%. The indexes finished Thursday in the green, with the Nasdaq extending its winning streak to a 12th consecutive session."It's looking very good that we're going to make a deal with Iran, and it's going to be a good deal," Trump told reporters at the White House on Thursday, according to Bloomberg News. Talks between the US and Iran could resume on the weekend, Trump said.Treasury yields were down before the opening bell, with the two-year rate retreating 1.3 basis points to 3.77% and the 10-year rate off 1.4 basis points to 4.3%.On Thursday, Trump announced on social media that Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu agreed to formally begin a 10-day ceasefire. The ceasefire seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon, a key sticking point in peace negotiations between Washington and Tehran.West Texas Intermediate crude oil dropped 4.1% to $90.82 a barrel in premarket action, while Brent fell 4% to $87.54.Shares of Netflix (NFLX) slumped 9.8% pre-bell after the streaming giant's second-quarter outlook fell short of Wall Street's estimates. Advanced Micro Devices (AMD) edged down 0.4% after closing the previous trading session up 7.8%, while GE Aerospace (GE) rebounded 0.4% following a nearly 5% drop on Thursday.Truist Financial (TFC), Fifth Third Bancorp (FITB), State Street (STT), Regions Financial (RF), Ally Financial (ALLY) and Autoliv (ALV) report their latest financial results before the bell.Federal Reserve Bank of San Francisco President Mary Daly is scheduled to speak at 11:30 am ET, while Richmond Fed President Thomas Barkin speaks at 12:15 pm. Federal Reserve Governor Christopher Waller is slated to speak at 2 pm.Friday's thin economic calendar has the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold nudged 0.1% higher to $4,814 per troy ounce, while bitcoin slipped 0.1% to $75,132.

Dow JonesNasdaq CompositeS&P 500$ALLY$ALV$AMD$FITB$GE$NFLX$RF$STT$TFC

Research149d ago

Research Alert: Tfc: Q1 Earnings Beat But Credit Quality Disappoints

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TFC posted mixed Q1 2026 results with GAAP EPS of $1.09 vs. $0.87 in the prior year and $0.09 above consensus, while revenue of $5.2B met consensus but declined 2% Q/Q. Credit quality disappointed as net charge-offs rose 4 bps Q/Q to 0.61% and nonperforming assets increased 2 bps to 0.50%, an unfortunate turn contrasting with credit improvement seen at most peer banks reporting this quarter, in our view. Net interest income fell 3% Q/Q to $3.64B due to two fewer days and deposit client mix shifts, while net interest margin fell 5 bps Q/Q to 3.02% from loan repricing pressures partly offset by loan growth and lower deposit costs. Noninterest income remained stable at $1.55B with investment banking and trading income strength (+11.0% Q/Q to $372M) offsetting weakness elsewhere. Balance sheet growth showed positive momentum with average loans growing 0.7% Q/Q to $327B, led by commercial loan strength (+1.8% Q/Q) through C&I (+1.6% Q/Q) and CRE (+4.1% Q/Q) growth, while average deposits rose 0.7% Q/Q to $399B.

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