JPMorgan’s 2nd-Quarter Profit Beats Expectations
Digest more
Citigroup's profit beat Wall Street estimates, rising 25% in the second quarter as its traders and investment bankers brought in windfalls. Shares jumped 3.3% after the bank announced it would buy back at least $4 billion in stock in the third quarter.
Doctors widely consider vaccines to be a money pit. Research shows that most pediatricians either break even or lose money on shots. One 2017 study found that nearly a quarter of family medicine providers and 12 percent of pediatricians stopped purchasing vaccines because of prohibitive costs.
The bank reported a second-quarter profit of $4.02 billion, or $1.96 a share, compared with $3.22 billion, or $1.52 a share, in the year-ago period. Analysts polled by FactSet expected $1.61 per share in earnings.
Citigroup, the third-largest U.S. bank by assets, reported second-quarter net income of $4 billion, up 25% from a year earlier. The bank said higher revenue drove the earnings jump, partially offset by increases in the cost of credit and expenses.
Stocks and bonds have whipsawed since April, when U.S. President Donald Trump stunned markets by announcing sweeping tariffs against major trading partners. Volatility tends to help Wall Street trading desks as clients rush to adjust their portfolios.
Explore more
FTSE 100 housebuilder Barratt Redrow tumbled on Tuesday, after legacy costs hit profits, and trouble in London saw completions fall short of forecast.
Area Choice steer price last week, packer margins will once again fall into the red this week. Feedlot margins gained nearly $100 per head last week with the gain in Choice steer prices pushing toward $737/head against an estimated breakeven price of $186/cwt.
BNY's assets under custody and administration rose 13% in the quarter ended June 30 to $55.8 trillion from a year earlier. The world's largest custodian bank said the increase reflected higher market values, client inflows and the favorable impact of the weaker U.S. dollar.
Chinese toymaker Pop Mart International Group Ltd. expects the soaring global popularity of its Labubu plush toys to drive a threefold increase in first-half revenue and an even bigger boost to