C - Citigroup Inc.
UBS Group AG analyst Erika Najarian says Goldman Sachs Group Inc. may have the tallest order when it comes to demonstrating earnings prowess this week, while investors may be focused on more on succession at JPMorgan Chase & Co. She previews Wall Street bank earnings on "Bloomberg Surveillance." -------- More on Bloomberg Television and Markets Like this video?
US banks could deliver broad earnings beats as strong capital markets activity, resilient economic conditions and improving wealth management flows support second-half 2026 and fiscal 2027 earnings revisions, Bank of America analysts wrote in a note ahead of the sector's upcoming earnings reports. The firm wrote that it expects all eight major banks it covers, including JPMorgan Chase & Co (NYSE:JPM, XETRA:CMC), Citigroup Inc (NYSE:C), Wells Fargo & Co (NYSE:WFC, XETRA:NWT), Goldman Sachs Group Inc (NYSE:GS, XETRA:GOS), Morgan Stanley (NYSE:MS), Bank of New York Mellon Corp (NYSE:BK, XETRA:BN9), State Street Corp (NYSE:STT) and Northern Trust Corp (NASDAQ:NTRS), to exceed both Bank of America and consensus earnings-per-share estimates.
Pre-market futures are down at this hour, led by the tech sector on the Nasdaq, which has shed -372 points at this hour, -1.24%. The Dow is -97 points, -0.18%, the S&P 500 -33, -0.43%.
Earnings season ramps up in full gear this week kicked off by quarterly financial results from some of the biggest publicly traded U.S. banks Tuesday and Wednesday.
KBW CEO Tom Michaud joins CNBC's Squawk on the Street to discuss his expectations for bank earnings as major banks begin reporting second-quarter results on Tuesday, the outlook for regional banks, and more.
Big banks report earnings, and CPI brings us the latest Inflation Rate, Tuesday morning.
C heads into Q2 earnings release with rising revenue and EPS expectations, but restructuring costs and credit risks may shape the outlook.
Wall Street's biggest banks are heading into second-quarter earnings season with investor expectations running high. Strong trading activity, resilient consumer spending, healthy loan demand, good capital market activity and a pickup in artificial intelligence (AI)-driven capital markets activity have fueled optimism.
JPMorgan, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are set to report earnings early Tuesday, followed by Morgan Stanley on Wednesday Investment banking revenue could jump 26% and trading revenue could rise 14% from a year ago, per KBW's Chris McGratty.
Netflix and banks kick off earnings season, markets start the week shaky, and more
With the Federal Reserve holding rates higher for longer, net interest income is the swing factor for the biggest lenders. Credit-loss provisions will help show whether the American consumer is still holding up.
Among the largest U.S. banks, Citigroup is expected to show the greatest improvement by one important measure. But it still has a long way to go to reach its own performance target.
I expect an excellent Q2 earnings report from Citigroup. However, I believe this is already priced in to the share price. Citi's overall profitability metrics don't support too large of a P/E multiple or premium to book value.
NY-headquartered Citigroup has been the perennial laggard of Wall Street for years, burdened by the legacy of the global financial crisis and an unmanageable corporate structure. However, the narrative has flipped, with a renowned wealth manager, Josh Brown, recently calling Citi “one of the top bank stocks” to own – driven by a profound operational turnaround engineered by CEO Jane Fraser.
Big banks start reporting Q2 earnings next week. Strong results could fuel a fresh rally in financial ETFs like XLF, IYG, IYF and VFH.
On CNBC's “Halftime Report Final Trades,” Bryn Talkington, managing partner of Requisite Capital Management, named CBRE Group, Inc. (NYSE:CBRE) as her final trade.
NEW YORK--(BUSINESS WIRE)--The Siam Commercial Bank (SCB) and Citi announce SCB as the first financial institution client globally to go live with Citi's newly integrated 24/7 USD Clearing and Citi Token Services solution. With this, Citi is enabling near real-time, round-the-clock, cross-border USD payments for its corporate and institutional clients. This collaboration is a demonstration of both institutions' commitment to digital innovation as a driver of commercial growth. For The Siam Comm.
Citigroup said it completed its first instant international payment in dollars with a partner bank, Thailand's Siam Commercial Bank.
Total Q2 earnings for the S&P 500 index are currently expected to be up +24.0% from the same period last year on +11.3% higher revenues, with expectations steadily increasing over recent months.
Financial sector stocks are ripping into their second quarter earnings reports. Wall Street analysts think the strength is justified.