Saturday, January 28, 2023
No Result
View All Result
  • Home
  • Recent
  • Business
  • Economy
  • Investing
  • Markets
  • Personal Finance
  • Retirement
  • Tech
  • Startups
  • Insurance
  • Market Research
  • Crypto
  • Home
  • Recent
  • Business
  • Economy
  • Investing
  • Markets
  • Personal Finance
  • Retirement
  • Tech
  • Startups
  • Insurance
  • Market Research
  • Crypto
No Result
View All Result
Home Personal Finance

Making sense of the markets this week: July 17

Updates Finance by Updates Finance
July 15, 2022
in Personal Finance
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

[Limited Time] IHG Cards Offer Best-Ever Bonus

Why Separate Bank Accounts in Marriage Might Make Sense

Mortgage Delinquency Rates Record Low – Is This the Calm Before the Debt Storm?

JPMorgan (JPM/NYSE): Even “economic rockstar” and JPMorgan CEO Jamie Dimon wasn’t immune to the bank downturn. Earnings fell 28%, and earnings per share were $2.76, versus the predicted $2.88. The stock was down 5% in early trading after the earnings call, and is now down nearly 30% year to date.

Morgan Stanley (MS/NYSE): A 55% drop in investment banking revenues highlighted a rough quarterly report. Overall revenue came in at $13.13 billion, versus $13.48 billion predicted. And earnings per share were $1.39, versus $1.53 predicted.

Wells Fargo (WFC/NYSE): Second-quarter profit declined 48% from last year, but this decline was somewhat expected. Adjusted earnings per share were $0.82, versus $0.80 predicted, on revenues of $17.03 billion versus $17.53 billion predicted.

Citigroup (C/NYSE): Citigroup fared the best out of the U.S. banks that reported this week, as earnings per share were $2.19 versus $1.68 predicted. Revenues were $19.64 billion versus $18.22 billion predicted and shares were up over 3% in early trading.

While U.S. banks are seeing substantially lower revenues from investment banking, this was expected to some degree in year-over-year comparisons given how hot that market was in 2021. Given the dramatic differences in revenue models between Canadian banks and their U.S. counterparts, investors should be careful when making negative extrapolations and applying them to their Canada-based financials portfolio. While the threat of a recession clearly isn’t good news for banks anywhere in the world, they should receive some tailwinds in the form of increasing interest rates spreads going forward.

I still don’t believe this recession will be deep enough to represent any real threat to the Canadian banks in the long term. After all, we’re still in an incredibly hot labour market and the strengthening U.S. dollar can only continue to help our balance of trade numbers.

Cogeco earnings up as Quebec’s economy shows strength

While the Canadian earnings scene was mostly quiet this week, Cogeco Communications (CGO/TSX) posted an impressive 5% earnings raise for the quarter, with CAD$100.3 million in reported net profit. Revenue was up 16.6% over the period, and earnings-per-share went from $2.02 to $2.17 on a year-over-year basis. 

In response to the good news, shares of the company jumped 5% in early trading on Thursday morning. 



Source link

Tags: JulyMakingMarketssenseWeek
Share30Tweet19
Updates Finance

Updates Finance

Recommended For You

[Limited Time] IHG Cards Offer Best-Ever Bonus

by Updates Finance
January 27, 2023
0
[Limited Time] IHG Cards Offer Best-Ever Bonus

Who doesn't love a free hotel night? As of Jan. 26, 2023, both the IHG® Rewards Traveler Credit Card and the IHG® Rewards Premier Credit Card have upgraded...

Read more

Why Separate Bank Accounts in Marriage Might Make Sense

by Updates Finance
January 27, 2023
0

If you’re married or living with your significant other, there’s a lot you share. Your home. Your weekend plans. Perhaps even a kid or two. But just because...

Read more

Mortgage Delinquency Rates Record Low – Is This the Calm Before the Debt Storm?

by Updates Finance
January 27, 2023
0

The U.S. housing market partied hard in 2021 and early 2022, as record-low mortgage rates and pandemic-induced demand set off vicious bidding wars and sent home prices soaring. ...

Read more

Pay Off Debt or Invest? New Law Could Help Student Loan Borrowers Do Both

by Updates Finance
January 26, 2023
0

Student loan borrowers are facing unprecedented amounts of debt. On top of job uncertainty and high inflation, borrowers are left to figure out how to save for retirement...

Read more

What Does LLC Mean and Why Your Business Needs One

by Updates Finance
January 26, 2023
0

If you’ve ever considered starting your own business, then the thought has probably crossed your mind: What’s an LLC, and do I need one? LLC, which stands for...

Read more
Next Post

Former flight attendant wins $5.3 million from Southwest Airlines, union over anti-abortion messages

Related News

How digital innovation in insurance drives human connection | Insurance Blog

July 19, 2022

What It Means For Enterprise Technology Leaders

September 15, 2022

Open enrollment for 2023 health coverage through exchange ends Sunday

January 15, 2023

Browse by Category

  • Business
  • Cryptocurrency
  • Economy
  • Insurance
  • Investing
  • Latest updates
  • Market Research
  • Markets
  • Personal Finance
  • Retirement
  • Startups
  • Technology

Get the latest Financial news on updatesfinance.com. Business news, Economy news, Investing news, Personal Finance and more.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Insurance
  • Investing
  • Latest updates
  • Market Research
  • Markets
  • Personal Finance
  • Retirement
  • Startups
  • Technology

Recent News

  • Video shows Memphis police beating of Tyre Nichols
  • Nestle to invest $100 million in Colombia, says Colombia president By Reuters

Copyright © 2022 - Updates Finance..

No Result
View All Result
  • Home
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Updates Finance..

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?