this Friday to next Friday is crucial…

[ARYA]

Just now, futureofandhra said:

Inflation will slowly come down as it went up at the same pace 

[dallas_ear_rings]

23 minutes ago, ARYA said:

Payiki velledi edaina kindiki raakapodu ani kavi baavam.. ex:SrNTR returned as Devansh

[dasari4kntr]

Banking giant JPMorgan Chase (JPM) said first quarter net income and revenue rose from a year ago while its deposits fell, demonstrating the resiliency of the nation’s largest lender as well as the challenges that tested its entire industry in March.

JPMorgan earnings of $12.6 billion were up 52% from the first quarter of 2022. Revenue of $38.3 billion was up 25% from the year-ago period.

JPMorgan kicks off a closely-watched earnings season for the nation’s biggest banks. Citigroup (C), Wells Fargo (WFC) and PNC (PNC) also report results today.

Banks of all sizes will be scrambling over the coming weeks to show investors how they are better positioned than rivals to weather any future turmoil.

JPMorgan shares were up 5.7% in the pre-market following Friday’s earnings release.

JPMorgan wasn’t totally immune from the chaos surrounding the failures of Silicon Valley Bank and Signature Bank. Its deposits fell 7% from a year ago but were up 1.5% from the fourth quarter of 2022.

Even before the turmoil in March, lenders big and small had been losing depositors to money market funds that were willing to offer higher yields as the Federal Reserve boosted interest rates. The outflow of deposits from all of the nation’s banks reached nearly $500 billion last month through March 29, according to recent Fed data.

JPMorgan, because of its size and diversity of its businesses, is better positioned than smaller rivals to weather such periods of uncertainty. Regulators also require it to maintain greater buffers to absorb losses and demonstrate that it has enough liquidity to withstand unexpected economic turmoil.

Its net interest income was up 48% compared to the year-ago quarter because the bank was able to charge more for loans as interest rates rose. Total loans were also up roughly 5% from a year ago, although down slightly from the fourth quarter.

Investors are looking for any signs that banks are making fewer new loans, which would affect the larger economy by reducing the flow of credit to businesses and consumers. Lending across the industry fell by nearly $105 billion during the two weeks ending March 29, according to the Fed, due mostly to a pullback by smaller institutions.

One lending business has clearly slowed at JPMorgan: mortgages. There is not as much demand for new borrowings now that interest rates are much higher than they were a year ago. Home Lending revenue was $720 million, down 38%.

JPMorgan is preparing for the possibility that credit conditions worsen. It increased its provision for credit losses by 56% compared to a year ago, a sign that it expects more debt to go bad as the economy slows.

JPMorgan CEO Jamie Dimon said in a release that "the U.S. economy continues to be on generally healthy footings—consumers are still spending and have strong balance sheets, and businesses are in good shape. However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks.”

The recent banking turmoil triggered by the March failures of Silicon Valley Bank and Signature Bank, he said, “is distinct” from the 2008 financial crisis “as it has involved far fewer financial players and fewer issues that need to be resolved, but financial conditions will likely tighten as lenders become more conservative, and we do not know if this will slow consumer spending.”

 

[Pahelwan2]

2 minutes ago, dasari4kntr said:

Banking giant JPMorgan Chase (JPM) said first quarter net income and revenue rose from a year ago while its deposits fell, demonstrating the resiliency of the nation’s largest lender as well as the challenges that tested its entire industry in March.

JPMorgan earnings of $12.6 billion were up 52% from the first quarter of 2022. Revenue of $38.3 billion was up 25% from the year-ago period.

JPMorgan kicks off a closely-watched earnings season for the nation’s biggest banks. Citigroup (C), Wells Fargo (WFC) and PNC (PNC) also report results today.

Banks of all sizes will be scrambling over the coming weeks to show investors how they are better positioned than rivals to weather any future turmoil.

JPMorgan shares were up 5.7% in the pre-market following Friday’s earnings release.

JPMorgan wasn’t totally immune from the chaos surrounding the failures of Silicon Valley Bank and Signature Bank. Its deposits fell 7% from a year ago but were up 1.5% from the fourth quarter of 2022.

Even before the turmoil in March, lenders big and small had been losing depositors to money market funds that were willing to offer higher yields as the Federal Reserve boosted interest rates. The outflow of deposits from all of the nation’s banks reached nearly $500 billion last month through March 29, according to recent Fed data.

JPMorgan, because of its size and diversity of its businesses, is better positioned than smaller rivals to weather such periods of uncertainty. Regulators also require it to maintain greater buffers to absorb losses and demonstrate that it has enough liquidity to withstand unexpected economic turmoil.

Its net interest income was up 48% compared to the year-ago quarter because the bank was able to charge more for loans as interest rates rose. Total loans were also up roughly 5% from a year ago, although down slightly from the fourth quarter.

Investors are looking for any signs that banks are making fewer new loans, which would affect the larger economy by reducing the flow of credit to businesses and consumers. Lending across the industry fell by nearly $105 billion during the two weeks ending March 29, according to the Fed, due mostly to a pullback by smaller institutions.

One lending business has clearly slowed at JPMorgan: mortgages. There is not as much demand for new borrowings now that interest rates are much higher than they were a year ago. Home Lending revenue was $720 million, down 38%.

JPMorgan is preparing for the possibility that credit conditions worsen. It increased its provision for credit losses by 56% compared to a year ago, a sign that it expects more debt to go bad as the economy slows.

JPMorgan CEO Jamie Dimon said in a release that "the U.S. economy continues to be on generally healthy footings—consumers are still spending and have strong balance sheets, and businesses are in good shape. However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks.”

The recent banking turmoil triggered by the March failures of Silicon Valley Bank and Signature Bank, he said, “is distinct” from the 2008 financial crisis “as it has involved far fewer financial players and fewer issues that need to be resolved, but financial conditions will likely tighten as lenders become more conservative, and we do not know if this will slow consumer spending.”

 

Super bullish news

[dasari4kntr]

Wells Fargo WFC +1.20%  posted first-quarter earnings and revenue that beat analysts’ expectations and net interest income above consensus as a result of rising interest rates.

Wells Fargo (ticker: WFC) reported first-quarter earnings of $1.23 a share on revenue of $20.73 billion. Analysts surveyed by FactSet were expecting earnings of $1.13 a share on revenue of $20.1 billion.

Net interest income of $13.34 billion came in above Wall Street estimates of $13 billion, a result of the Federal Reserve’s continued increase of interest rates to fight historically high inflation. 

Loans for the quarter of $948.7 billion were lower than Wall Street estimates of $958 billion, but still a gain from the same quarter last year when loans were $911.8 billion. Deposits of $1.36 trillion were below analysts’ consensus of $1.38 trillion, and a decline that has come as people have spent savings built up during the pandemic, and higher yields available in money-market funds have encouraged consumers to move their money. 

“We are glad to have been in a strong position to help support the U.S. financial system during the recent events that impacted the banking industry,” Chief Executive Charlie Scharf said in the news release. 

Shares of Wells Fargo were up 2.7% in premarket trading Friday to $40.71.

Wells Fargo earnings are about to land, and investors want to know how the big bank held up—and how it sees the outlook for the sector— during a volatile time for financial companies.

The bank (ticker: WFC) is scheduled to report its first-quarter earnings before the markets open on Friday. Analysts are expecting the bank to post earnings of $1.13 a share from revenue of $20.1 billion. That compares with earnings of 88 cents a share from revenue of $17.6 billion in the same quarter last year.

“Bank earnings typically set the stage for how the rest of earnings season plays out and bank CEO commentary will be particularly important over the next week, as investors continue to gauge the probability of an upcoming recession,” David Trainer, chief executive of investment research firm New Constructs, wrote Thursday. 

“Bank lending is arguably the most important component of a strong economy, so insights from bank CEOs are critical right now, as investors keep an eye on the trajectory of bank lending after the recent crisis of confidence in the banking sector,” Trainer said.

The consensus forecast among analysts tracked by FactSet is for Wells Fargo to report loans of $958 billion, which is a jump from $911.8 billion in the first quarter of 2022, but would represent a slight slowing in the pace of loan growth from prior quarters. Deposits are expected to be $1.38 trillion, down from $1.48 trillion in the same quarter of last year, a decline that has come as people have spent savings built up during the pandemic, and higher yields available in money-market funds have encouraged consumers to move their money. 

“Realistically, the biggest banks should be in a better position than their smaller peers to continue to extend credit, considering that they could very well be awash in deposits,” Piper Sandler analyst Scott Siefers wrote in a research note Wednesday. He rates Wells Fargo at Neutral with a target of $41 for the price.

The logic is that big banks may have gained deposits as concerns about the financial soundness of smaller banks that followed the failures of Silicon Valley Bank and Signature Bankencouraged people to move their money. Many regional-bank customers pulled their deposits as these concerns intensified, though recent Federal Reserve data showed that deposits at small U.S. banks have since stabilized. 

The stock closed Thursday at $39.66, for a loss of 4% so far this year.

Wells Fargo’s net interest income is expected to be $13 billion, a 29% increase from this time last year, as a result of the Federal Reserve’s effort to fight inflation by aggressively raising interest rates. Higher rates generally widen the gap between the rates banks charge for loans and what they pay for deposits. 

 

The bank’s net interest margin, which measures that spread, is expected to come in at 31.%, compared with 2.2% in the same quarter of 2022.

  JPMorgan Chase JPM +0.38%  (JPM) and Citigroup C +0.81%  (C) also report earnings Friday. 

 

 

[dasari4kntr]

Just now, Pahelwan2 said:

Super bullish news

wells fargo kooda…good results..

[dasari4kntr]

Citigroup

Wall Street anticipates Citigroup earnings falling for the sixth straight quarter, tumbling 16.8% to $1.68 per share. The FactSet consensus projects revenue climbing 3.6% to $20 billion. Net interest income should jump 18% to $12.86 billion. But analysts expect drops in noninterest income and investment banking revenue to hurt results.

Analysts see total assets edging up 1.4% to $2.43 trillion while average loans inch down to $653.9 million and average deposits rise 3.5% to $1.37 billion.

C stock inched up to 47.31 Thursday, still below the 50-day and 200-day lines despite the 3.1% climb this week. Citi stock tumbled during the March bank panic, but is up roughly 4.6% year to date

 

 

PNC Financial

PNC Financial fared better than other major regionals in March. It topped earnings estimates for its Friday morning results but missed on revenue.

Results: Earnings leapt 23.2% to $3.98 per share while revenue rose 19.4% to $5.6 billion. FactSet guided a 14% jump in earnings to $3.67 per share on $5.62 billion in revenue.

Net interest income spiked 28% for the quarter to $3.6 billion, just under the FactSet forecast of $3.65 billion. Average deposits increased $1.3 billion to $436.2 billion while Wall Street expected a 4.3% slide to $433.5 billion. Average loans increased by $3.6 billion to $325.5 billion, just under estimates of $326.4 billion. Net interest margins dipped vs. Q4 amid higher funding costs. But PNC did cut its provision for credit losses.

PNC guided a 3% revenue decline for Q2 compared to its first-quarter results. Analysts forecast revenue at $5.66 billion.

 

 

[perugu_vada]

21 hours ago, Ravi860 said:

am expecting following uncles: 

One more rate hike in May 

something big will happen after that debt ceiling issue or another bank fasak 

officially recession will be here 

then fed starts to cut or pause rate hikes

inflation crashes in faster pace 

market bottoms here hopefully 

 

21 hours ago, Ravi860 said:

Only thing it will look very bad before elections year for Dems if this happens

Austin lo real estate padipotunda .. apudu konocha ani adugutuna @Netflixmovieguz @Sonu_Patel uncles

[8pm]

21 hours ago, dasari4kntr said:

banks quarterly after…SVB, FRC, CS..etc incidents ….

all eyes on …👀 

anno friday vachesindi

[dasari4kntr]

14 minutes ago, 8pm said:

anno friday vachesindi

yup..anduke...lifted...this thread..

[8pm]

5 minutes ago, dasari4kntr said:

yup..anduke...lifted...this thread..

JPMorgan Chase profits jump 52% amid banking turmoil

JPMorgan Chase posted a 52% jump in its first quarter profits, helped by higher interest rates which allowed the bank to charge customers more for loans

[8pm]

7 minutes ago, dasari4kntr said:

yup..anduke...lifted...this thread..

 

1 minute ago, 8pm said:

JPMorgan Chase profits jump 52% amid banking turmoil

JPMorgan Chase posted a 52% jump in its first quarter profits, helped by higher interest rates which allowed the bank to charge customers more for loans

helped by higher interest rates which allowed the bank to charge customers more for loans

 

mana paisale kada

[dasari4kntr]

2 minutes ago, 8pm said:

 

helped by higher interest rates which allowed the bank to charge customers more for loans

 

mana paisale kada

anthe gaa…

[ramudu]

13 minutes ago, dasari4kntr said:

yup..anduke...lifted...this thread..

Jpm Racha lepindi gaaa , same with other banks tooo , 4 large banks reported positive results 

[dasari4kntr]

7 minutes ago, ramudu said:

Jpm Racha lepindi gaaa , same with other banks tooo , 4 large banks reported positive results 

yup…