JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected.Here’s what the company reported:Earnings: $4.37 a share vs. $4.01 a share LSEG estimateRevenue: $43.32 billion, vs. $41.63 billion estimateJPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6% to $43.32 billion. Net interest income rose 3% to $23.5 billion, exceeding the $22.73 billion StreetAccount estimate, on gains from investments in securities and loan growth in its credit card business.CEO Jamie Dimon touted the firm’s quarterly results in a statement, while also addressing regulators’…
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In a notable performance, Liberty All Star Equity Closed Fund (USA) stock has reached a 52-week high, trading at $7.24. This peak reflects a significant uptrend for the fund, which has seen an impressive 1-year change, boasting a 22.34% increase. Investors have shown increased confidence in the fund’s strategy and portfolio management, contributing to its strong market position. The 52-week high serves as a testament to the fund’s resilience and growth potential amidst fluctuating market conditions. In other recent news, Americas Gold and Silver Corporation is set to fully acquire the Galena Complex, one of North America’s largest high-grade, underground…
Key Takeaways Tesla shares sank Friday, the morning after its “Cybercab” robotaxi was unveiled at its “We, Robot” event.The electric vehicle maker also revealed a larger “Robovan” and showcased its Optimus humanoid robot.Analysts had said prior to the event that they expected Tesla could announce a lower-cost vehicle to be released next year, but the company did not mention one. Tesla (TSLA) shares stumbled Friday morning as markets appeared to be initially unimpressed with the electric vehicle (EV) maker’s “We, Robot” event last night, which included the unveiling of autonomous taxi and van models. The autonomous taxi, called the “Cybercab,”…
In order to justify the effort of selecting individual stocks, it’s worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, you risk returning less than the market. We regret to report that long term Compass Diversified (NYSE:CODI) shareholders have had that experience, with the share price dropping 32% in three years, versus a market return of about 24%.Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they’ve been consistent with returns. View our latest analysis for Compass…
Are Trump’s Proposed Corporate Tax Cuts The Key To Unleashing A Stock Market Boom? Here’s What History Tells Us About Similar MovesFormer President Donald Trump is again turning heads with his push to slash the federal corporate tax rate. The 2024 GOP presidential nominee proposes lowering it from 21% to 15%, which has stirred up much debate. Some see it as the key to supercharging the U.S. economy and stock market. Others, however, aren’t so sure.Don’t Miss:Supporters of Trump’s plan point to past economic gains when taxes were lowered. According to the Tax Foundation, dropping the corporate tax rate to…
On Friday, TD Cowen made an adjustment to the price target on Sony (NYSE:) shares, lowering it significantly to $23 from the previous $107. The firm maintained a Buy rating on the stock despite the change. The revision in the price target was attributed to two main factors: the recent 5-for-1 stock split executed by the company and the prevailing exchange rate. The stock split, which has now taken effect, means that shareholders received five shares for every one they held, adjusting the price to reflect the increased share count. This corporate action typically aims to make shares more accessible…
With private equity poised to unleash a flood of institutional funds across pro sports, individual billionaires, CEOs, and Hollywood and sports celebrities are racing against them, time, and each other to cash in on the next gold rush in sports: U.S. soccer. For decades, U.S. soccer franchises had taken a backseat to other major league teams. That’s all changing with Major League Soccer (MLS) becoming America’s fastest-growing pro sports league. The six key growth indicators powering MLS’ remarkable rapid rise are: Booming attendance: The MLS is averaging 23,00 fans per game, more than the National Basketball Association, National Hockey League, and…
By John O’Donnell and Francesco Canepa LONDON/FRANKFURT (Reuters) – Germany is working to frustrate a possible takeover of one of its biggest banks by an Italian rival, a stance that pits Berlin against Rome and Europe’s regulators, several people familiar with government and regulators’ thinking told Reuters. Berlin was taken aback by UniCredit’s swoop to build a large stake in state-backed Commerzbank (ETR:), a move the Italian bank says could lead to a merger. Officials are now bracing for a potential hostile bid that could tie Berlin’s fortunes to those of Italy, whose debt load dwarfs Germany’s. Combining the banks…
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Profits at JPMorgan Chase (JPM) fell in the third quarter as it set aside more money to cover future loan losses, but its Wall Street operations beat expectations.Net income was $12.9 billion, which fell 2% from the year-ago period, as its provisions for credit losses rose to $3.1 billion, up 125% from the year-ago period.But JPMorgan’s investment banking operations performed better than analysts expected, as that revenue grew 29% from a year ago to $2.4 billion.That should reinforce a conviction across Wall Street that dealmaking is on its way back after a two-year-long drought.There were other positive signs from JPMorgan’s…