Pawan Passi, former equities executive at Morgan Stanley, arrives at court in New York, US, on Friday, Jan. 12, 2024. Alex Kent | Bloomberg | Getty Images Morgan Stanley has agreed to pay a total of $249 million to settle a criminal investigation and a related Securities and Exchange Commission probe of the unauthorized disclosure … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. U.S. stocks were lower Friday as markets digested fourth-quarter earnings results and a fresh batch of economic data. The producer price index , a gauge of wholesale prices, declined … Read more
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results … Read more
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the U.S. economy, but we are confident … Read more
Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup reported fourth-quarter earnings before the opening bell Friday. Here’s what … Read more
Bank of America shares fell about 2% in premarketing trading on Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges. Here’s what the company reported compared with Wall Street expectations: Earnings per share: 70 cents adjusted vs. 68 cents per share expected, according to LSEG, formerly known as Refinitiv Revenue: $22 billion, … Read more
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase reported fourth-quarter earnings before the opening bell Friday. Here’s what the company … Read more
Consumers shop for groceries at a retail chain store in Rosemead, California, on December 12, 2023. Frederic J. Brown | AFP | 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 … Read more
Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. Dado Ruvic | Reuters 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. Like what … Read more
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than disclosed by the company’s CFO just … Read more
