Business

Morgan Stanley on Tuesday posted results that topped analysts’ estimates for profit and revenue as wealth management, trading and investment banking exceeded expectations. Here’s what the company reported: Earnings: $2.02 a share, vs. $1.66 expected, according to LSEG Revenue: $15.14 billion, vs. expected $14.41 billion The bank said first-quarter profit rose 14% from a year

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Brendan Mcdermid | Reuters The benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday. Ever since the chaos of last year’s regional banking crisis that consumed three

A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022.  Carlo Allegri | Reuters Peloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into paid

The Freetrade logo on a smartphone screen. Rafael Henrique | Sopa Images | Lightrocket | Getty Images British stock trading app Freetrade hit eked out breakeven earlier this year, the company told CNBC, marking its first-ever move into the black after incurring full-year losses in 2023. Freetrade reported adjusted earnings before interest, tax, depreciation, and

David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday. Here’s what Wall Street expects: Earnings: $8.56 per share, according to LSEG Revenue:

Investors looking to weather a volatile market may want to opt for physical gold over gold stocks. That’s according to George Milling-Stanley, one of the world’s experts in gold and the chief gold strategist at State Street Global Advisors. “One of the reasons I own gold bar(s) is that I believe it offers me some

Illuminated trademark of the American athletic footwear and apparel corporation Nike, Inc. seen on the Nike Store window in Antwerp, Belgium. (Photo by Karol Serewis/SOPA Images/LightRocket via Getty Images) Karol Serewis | Lightrocket | Getty Images Nike CEO John Donahoe acknowledged Friday that the company moved too far away from wholesale partners like Macy’s and

Larry Swedroe, who is considered one of the market’s most esteemed researchers, thinks Warren Buffett’s investment style doesn’t work well anymore. He cites the number of professional Wall Street firms and hedge funds now participating in the market. “Warren Buffett was generally considered the greatest stock picker of all time. And, what we have learned

Shopping bags in front of the Macy’s Inc. flagship store in the Herald Square area of New York, US, on Monday, Nov. 13, 2023. US holiday sales will grow at a slower pace this year amid economic headwinds such as higher interest rates, the National Retail Federation said.  Bing Guan | Bloomberg | Getty Images

Wells Fargo on Friday reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income. Here’s how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.26 cents adjusted vs. $1.11 cents expected

StubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC. The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at in late 2021 during its latest round of private funding. The company has been working with JPMorgan and

Maskot | Maskot | Getty Images The bulk of Americans buying qualifying new electric vehicles are opting to receive an associated tax credit upfront from the car dealer instead of waiting until tax season, according to new Treasury Department data.   About 90% of consumers who qualify for a “new clean vehicle” tax credit —

Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023.  Patrick T. Fallon | AFP | Getty Images Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected results in the bank’s investment banking and trading operations. Here’s how the company performed,

Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC’s “Squawk Box” at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024. Adam Galici | CNBC JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Friday. Here’s what Wall Street expects: Earnings: $4.11 a share, according to

Jonathan Raa | Nurphoto | Getty Images Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Hi folks! Two competing cell therapies from Bristol Myers Squibb and Johnson & Johnson both got good news from the Food and Drug Administration last week.  But J&J’s drug is

Carey Halio, Goldman Sachs’ head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter.  Her new role, effective June 1, encompasses authority over the firm’s more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm’s liquidity, funding and capital. She will

A render of Sierra Space’s Velocity satellite bus Credit: Sierra Space Amid preparations for its spaceplane’s maiden flight and an initial public offering as soon as next year, Sierra Space is expanding its satellite offerings.   Ahead of the much-anticipated solar eclipse, the commercial space unicorn unveiled its aptly named Eclipse line of satellite buses