JPMorgan Chase on Friday topped analysts’ expectations for third-quarter profit and revenue as the bank generated more interest income than expected, while credit costs were lower than expected. Here’s what the company reported: Earnings: $4.33 a shareRevenue: $40.69 billion, vs. $39.63 billion LSEG estimate The bank said profit surged 35% to $13.15 billion, or $4.33 a … Read more
A Now hiring sign at Taco Bell in Fullerton, CA, on Monday, Sept. 13, 2021. Jeff Gritchen | Medianews Group | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Lower-end consumers have shifted buying patterns to save money as their bank accounts dwindle in size, according to Citigroup CEO Jane Fraser. The third-largest U.S. bank by assets has been monitoring its credit card customers for signs of distress, Fraser told CNBC’s Sara Eisen on Friday in an interview. “We are paying attention to the … Read more
A view of a fuel station as fuel costs are on the highest degree from final yr in Virginia, on August 16, 2023. Celal Gunes | Anadolu Company | Getty Pictures This report is from at present’s CNBC Every day Open, our new, worldwide markets e-newsletter. CNBC Every day Open brings traders on top of … Read more
James Gorman stated Friday he plans to resign as Morgan Stanley’s CEO inside the 12 months, setting off a succession race atop one in every of Wall Road’s dominant companies. The financial institution’s board has narrowed its CEO search to 3 “very sturdy” inner candidates, Gorman informed shareholders on the New York-based agency’s annual assembly. … Read more