Business

JPMorgan Chase, Goldman Sachs, Conagra Brands and more

Pedestrians pass in front of an automated teller machine (ATM) kiosk of the JPMorgan & Chase bank branch in downtown Chicago, Illinois.

Christopher Dilts | Bloomberg | beautiful pictures

Check out the companies that make headlines in midday trading.

JPMorgan Chase Shares of JPMorgan Chase fell 3.49% and hit a 52-week low after the bank reported quarterly earnings that missed analysts’ expectations, as the bank built up provisions for bad loans. CEO Jamie Dimon said that high inflation, declining consumer confidence and geopolitical tensions have the potential to hurt the global economy in the future. The bank also announced that it would suspend share buybacks.

Goldman Sachs Shares of Goldman Sachs fell 2.95% after disappointing earnings from JPMorgan and Morgan Stanley. The bank is expected to report its own quarterly earnings on Monday.

Brand Conagra Food stocks fell 7.25% after Conagra’s quarterly results revealed the company’s sales slump. In other words, revenue growth comes from a combination of sales and price increases. Conagra’s earnings and revenue last quarter came close to analyst expectations.

Bank of the First Republic – Shares rose 1.77% after the bank reported earnings that beat expectations at top and bottom profits. First Republic Bank posted earnings of $2.16 per share on revenue of $1.5 billion. Analysts had expected earnings of $2.09 per share on revenue of $1.47 billion, according to consensus estimates from FactSet.

Cisco – Shares of Cisco fell nearly 1% after JPMorgan downgraded the stock to neutral on optimism. The bank also recommended that investors pivot to a “more diversified provider” like rival Juniper Networks.

Energy Stocks – The energy sector led the decline in the S&P 500, sliding more than 3%. Shares of Halliburton, Diamondback Energy, Marathon Oil, Coterra Energy and Chevron both closed lower.

Costco – Shares of retailer Costco jumped 4% after Deutsche Bank upgraded the stock to buy and raised its price target to $575 from $525. Deutsche said Costco is “one of the most consistent operators in our group, and steady traffic and high membership renewal rates serve as key differentiators in an increasingly competitive landscape.” uncertain.”

– CNBC’s Sarah Min and Jesse Pound contributed reporting

Source link

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button