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Financial
Banking on Banks: Five hot bank stocks based on earnings to explore
July 28, 2021 11:34 AM PDT| By Team Kalkine MediaSummary Goldman Sachs (NYSE: GS) net income applicable to common stockholders in Q2 was US$ 5.35 billion, a vast 2614% up YOY. Citigroup, Inc. (NYSE: C) net income increased nearly 487% YOY. The stock price surged 33% in one year. Wells Fargo .....
Square, Paypal stocks on investors’ radar ahead of Q2 earnings
July 26, 2021 11:44 AM PDT| By Team Kalkine MediaFintech stocks are companies that use technology to provide financial services. For example, they use software and digital algorithms to help customers manage their finances. Fintech firms have created consumer-oriented technologies for ease of tra.....
Blackstone (BX) stock rallies as Q2 profit doubles
July 22, 2021 02:43 PM PDT| By Kiran MuraliSummary The asset management company’s stock rose over 4 percent on Thursday. Blackstone’s second-quarter net income more than doubled to US$1.31 billion. Total assets under management rose 21 percent year over year to US$684.0 bil.....
Wells Fargo (WFC) stock gains, BlackRock (BLK) declines after Q2 earnings
July 14, 2021 02:40 PM PDT| By Kiran MuraliSummary Wells Fargo posted US$6 billion profit as it released US$1.6 billion credit reserves. BlackRock’s assets under management soared to a record US$9.456 trillion in the second quarter. Wells Fargo stock returned 51% year to date, Bl.....
Top dividend paying financial stocks to consider
July 14, 2021 12:25 PM PDT| By Sanjeeb BaruahSummary Prospect Capital (NASDAQ: PSEC) has a dividend yield of 8.58% First Horizon’s (NYSE: FHN) current dividend yield is 3.55%, an increase of about 89% in one year. Valley Bancorp’s (NASDAQ: VLY) dividend yield is 3.3%, consoli.....
Citigroup (C), Bank of America (BAC) post strong Q2 profit growth
July 14, 2021 08:08 AM PDT| By Kiran MuraliCitigroup Inc. (NYSE: C) and Bank of America (NYSE: BAC) posted significant growth in their second-quarter profit on July 14. The American banks saw their earnings multiply despite the decline in revenue. Following the improving economic outlook, .....
Mastercard (NYSE: MA) rides high on Verizon partnership, stock up 2%
July 13, 2021 05:19 PM PDT| By Sanjeeb BaruahSummary Mastercard stock (NYSE: MA) was up 2.17% on Tuesday after Verizon pact. Mastercard and Verizon to provide “transformative” solutions in payment processing. In Q1 of 2021, its revenue was up 3.6% YoY to US$4.16 billion. Its .....
JP Morgan, Goldman Sachs start earnings season with strong Q2 results
July 13, 2021 07:09 AM PDT| By Kiran MuraliSummary JP Morgan attributed the net income growth to credit reserve releases of US$3 billion. Goldman Sachs’ investment bankers generated second-highest quarterly revenues of US$3.61 billion. JP Morgan stock returned around 25 percent y.....
Sentage (SNTG) IPO: Chinese stock skyrockets on NASDAQ debut
July 09, 2021 02:27 PM PDT| By Kiran MuraliSummary The financial service provider’s stock jumped 597 percent on its NASDAQ debut. Sentage priced its initial public offering at US$5 and raised US$20 million. The Chinese company’s ordinary shares traded as high as US$52 on Fr.....
Which are the major financial stocks in the US?
June 24, 2021 03:55 PM PDT| By Kiran MuraliThe financial sector comprises a wide variety of companies, including those involved in banking, asset management, insurance, and other financial services. This sector represents 8.73 percent of the S&P 500 Index’s total market capitalizati...
Fintech Company Marqeta To Debut on NASDAQ
June 08, 2021 03:00 PM PDT| By Kiran MuraliMarqeta, Inc. is expected to debut on Nasdaq Global Select Market on June 9, Wednesday, through an initial public offering. The startup will trade under the ticker MQ. The San Francisco-based company offers a card issuing platform. Marqeta’s.....
Wells Fargo Set To Launch Crypto Services For Wealthy Clients
May 24, 2021 10:19 AM PDT| By Team Kalkine MediaSummary The bank believes that digital coins have gained stability as an asset and they could be a viable alternative for investment. According to the bank, there are currently more than 9,000 cryptocurrencies, with a market cap of US$2.4 trill.....
Mastercard Outshines Visa In Revenue Growth Despite Similar Challenges
April 29, 2021 11:54 AM PDT| By Team Kalkine MediaSummary Mastercard’s net income rose 8% to US$1.8 billion (GAAP), compared to US$1.7 billion in the same period of 2020. Mastercard CEO Michael Miebach attributed this growth to increased domestic spending, smart deals, and close collabor.....
Blackstone Swings to Record Profit in Q1’21
April 22, 2021 06:04 PM PDT| By Team Kalkine MediaSummary The investment company posted a profit of US$1.75 billion against a loss of US$1.07 billion in the year-ago period. Total revenue during the quarter came in at US$5.30 billion, compared to the negative US$3.08 billion in the first quart.....
JP Morgan, Goldman Sachs, Wells Fargo Report Strong Q1’21 Earnings
April 15, 2021 07:00 AM PDT| By Team Kalkine MediaSource: Freedomz, Shutterstock Summary JP Morgan posted 399 percent year over year growth in its first quarter net income Wells Fargo’s net income during the quarter jumped to US$4.74 billion. Goldman Sachs saw its net income soar 464 p...
Banking Outage Hits Wells Fargo Customers Amid Stimulus Payment
March 19, 2021 07:27 PM PDT| By Team Kalkine MediaSource:GH Studio, Shutterstock Summary Some 150,000 checks, worth about US$442 million, were disbursed in the latest round. Banks to make 90 million payments in parcels as part of the third round of covid aid. Wells Fargo stocks (NYSE:WFC) we...
Three financial stocks that have racked up recent gains
February 15, 2021 07:31 AM PST| By Team Kalkine Mediap, Discover Financial Services and Willis Towers Watson Public Ltd. The S&P 500 Financials index consists of over 40 financial sector companies including banks, investment firms as well as asset management firms. While the banking sector for...
SoftBank Net Profit Swells to USD11 Billion as Vision Fund Rallies
February 09, 2021 11:24 AM PST| By Team Kalkine MediaSource:13_Phunkod, Shutterstock Summary SoftBank’s Vision Fund has invested in more than 160 companies across different geographies. The expectation of a positive Q3 earnings report pushed SoftBank’s stock (SFTBF: OTCPK) price up b...
A sneak peek at mega cap US banks
January 29, 2021 09:29 AM PST| By Team Kalkine Mediad continue provided that the US economy improve over the near term. The US mega cap banks have closed the 2020 books with elan, having largely performed beyond expectations in 4Q. It was a rocky road for financials last year owing to the pandemi...
Volatile Bitcoin Plunges 11%, Ethereum Reclaims US$-1200 Mark
January 22, 2021 06:51 AM PST| By Hina ChowdharyBitcoin continued displaying volatility, dipping by 10.8 per cent on Friday morning. The virtual token plunged to US$ 28,845.31, after opening at US$ 32340.44*. The fall came over increased regulation concerns on cryptocurrencies. This also reflec.....
