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15.04.26 - 22:06
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Bank Earnings Clear Path for Stock Record Highs (Bloomberg)
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Morgan Stanley's stock traders joined the rest of Wall Street with a record-breaking first quarter.
The firm took in $5.15 billion from equity trading in the first three months of the year, according to a statement Wednesday. The 25% jump came in ahead of expectations and boosted total trading revenue to $8.51 billion. Morgan Stanley's closely watched wealth business pulled in $118.4 billion in net new assets, more than expected. As Bank of America Corp.'s stock-trading desk set a record, riding a wave of volatility that helped push the bank's earnings to the highest in nearly two decades. Bloomberg's Herman Chan joins to discuss these two big bank earnings. (Source: Bloomberg)...
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15.04.26 - 17:24
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Big US banks rake in near-$50bn profit as Iran war shakes markets (The Guardian)
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Six lenders, including Bank of America, Morgan Stanley and JP Morgan report jump in first-quarter earningsBusiness live – latest updatesBig US banks raked in nearly $50bn (£37bn) worth of profits in the first three months of the year, as they benefited from stock market turbulence triggered by the US-Israeli war on Iran.Wall Street's largest lenders have reported a jump in first-quarter earnings, reflecting the surge in demand for trading services as investors dumped risky stocks and bonds and sought safer havens for their cash. Continue reading......
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15.04.26 - 16:27
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Bank of America Jumps On Record Equity Trading Revenue, Net Interest Income Forecast Increase, Offset By FICC Miss (ZeroHedge)
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Bank of America Jumps On Record Equity Trading Revenue, Net Interest Income Forecast Increase, Offset By FICC Miss
Following stellar equity trading results from Goldman and JPMorgan, this morning Bank of America reported that its traders also pulled in the business's highest quarterly revenue in more than a decade, riding a wave of volatility that pushed the firm's stock-trading desk to an all-time record. Bank of America said Q1 profit rose 17% from a year earlier, while net income came in at $8.58 billion. That amounted to $1.11 a share, above analyst estimates of $1.01. Revenue was 7% higher at $30.27 billion, driven by solid net interest income, sales and trading and investment banking fees.
Revenue from equity trading climbed 30% to $2.8 billion in the first quarter, beating expectations, while fixed-income trading, which fell short of a consensus of analyst estimates, rose less than 1% to $3.5 billion, similar to Goldman's FICC miss. Bank have benetted from a volatile quarter, whe...
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15.04.26 - 14:57
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Futures Unchanged Just Shy Of All Time High On Peace Hopes, Solid Earnings (ZeroHedge)
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Futures Unchanged Just Shy Of All Time High On Peace Hopes, Solid Earnings
US equity futures are flat following yesterday's rally as market awaits news on the Iran war resolution and as we traverse earnings season. As of 8:15am ET, S&P 500 futures are little changed after the benchmark closed within a whisker of a record. Risk sentiment took a small knock in recent trade after Iran cautioned that it will not allow shipments to or from the Gulf if the US blockade remain.Nasdaq futures are fractionally in the green, and set for an 11th consecutive gain as the massive short squeeze/CTA forced buying continues: in premarket trading, Mag7 / Semis are mixed, Discretionary and Staples are both stronger, Fins / Indu are leading Cyclicals with weakness in Materials. Bank of America and Morgan Stanley rose in premarket trading as their equity traders posted strong revenue beats. Europe's Stoxx 600 traded flat, while China's mainland blue-chip index became the latest in Asia to recoup losses since...
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15.04.26 - 13:25
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Bank Of America Corporation Profit Climbs In Q1 (AFX)
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CHARLOTTE (dpa-AFX) - Bank of America Corporation (BAC) announced earnings for its first quarter that Increased, from last yearThe company's earnings came in at $8.15 billion, or $1.11 per share. ......
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15.04.26 - 13:25
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ROUNDUP: Bank Of America Q1 Net Profit Rises (AFX)
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CHARLOTTE (dpa-AFX) - Bank of America Corp. (BAC) reported Wednesday that net income applicable to common shareholders for the first quarter grew to $8.16 billion or $1.11 per share from $6.96 bil......
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