Earnings Parade: Citigroup And Goldman Sachs Kick Things Off With Mixed Results

Everybody loves a good comeback story, as golf fans might tell you following Tiger Woods’ unexpected victory at the Masters over the weekend. The markets have also staged quite a comeback since the end of 2018, and there was more evidence of that Friday when the S&P 500 Index closed above 2900 for the first time since last fall.

However, revenue of $8.81 billion came in under third-party consensus of $9.07. The lower than expected top line appeared to reflect weaker trading activity in the quarter, something many analysts had predicted going into bank earnings due in part to low volatility in the markets and investor shyness after stocks cratered in December.

The other big bank this morning is Citigroup, which also posted better than expected earnings per share at $1.87 vs. third-party consensus of $1.80. Revenue of $18.6 billion came in just a little under analysts’ expectations. Fixed income trading came in above where Wall Street had been looking, but equities trading slumped.

The Dow Jones Industrial Average had an even better day than the S&P on Friday, due in part to the performance of two of its components: Walt Disney and JP Morgan. The strength in JP Morgan was likely a function of earnings, as the company kicked off earnings season by topping the Street’s expectations on both top- and bottom-lines.

Speaking of higher, some analysts are now looking at the two bank earnings Friday—JPM and Wells Fargo—and wondering if current Q1 S&P 500 earnings estimates might be a bit too negative. One thing to consider is that it’s still very early to be talking about this. Another week or two of earnings from across multiple industries might help clarify whether the average analyst estimate for a low-to-mid single-digit year-over-year earnings decline is still in the cards.

Also remember that this is a shortened week, with U.S. markets closed Friday for the Good Friday holiday. That could potentially cause some heightened volatility Thursday ahead of the long weekend.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Here comes Goldman Sachs earnings...Goldman Sachs is scheduled to report first-quarter earnings on Monday. Check the results of a lottery. ..
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Goldman Sachs is set to report first-quarter earnings — here's what the Street expectsIt's only Goldman Sachs CEO David Solomon's second quarter running the bank, but analysts will have plenty of questions for him. Pocahontas ewarren is ready to bash the ‘greedy bankers’ regardless of earnings report numbers!
Källa: CNBC - 🏆 12. / 72 Läs mer »

Dow futures slightly higher with earnings season set to kick offU.S. stock index futures were slightly higher Friday morning, as market participants awaited the start of earnings season. Future generations will look at the absolute moronic investors of today & shake their heads at their absolute and complete brainwashed responses to the biggest, fattest, ugliest, most overvalued stock market in HISTORY. Suicide rates are going to skyrocket even further w/in 2 yrs
Källa: CNBC - 🏆 12. / 72 Läs mer »

Here's what to expect from Citigroup earningsCitigroup is scheduled to report quarterly results later on Monday.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & moreSome of the names on the move ahead of the open. The best deal will be $BA at open
Källa: CNBC - 🏆 12. / 72 Läs mer »