Wells Fargo reported better-than-expected quarterly results before the opening bell Friday. We were also happy to see that as of the end of 2023, management has officially delivered on its $10 billion multiyear cost-saving program. However, the stock came under pressure on weaker-than-expected guidance. Total revenue for the three months ended Dec. 30 advanced a … Read more
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
We’re making our first Bullpen update of 2024. The Bullpen is a collection of stocks identified by the CNBC Investing Club team as having the potential to join Jim Cramer’s Charitable Trust. We’re highlighting the four most interesting investment opportunities we found out of the handful of company CEOs Jim interviewed at this week’s JPMorgan … Read more
Bitcoin slid on Friday to end what should have been a momentous week for the cryptocurrency, with the launch of 11 bitcoin ETFs in the U.S. after a years long battle for institutional acceptance of the asset. The price of bitcoin dropped nearly 6% to $44,022.22, according to Coin Metrics, pulling most of the crypto … 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
The beer industry should prove resilient through looming supply chain challenges that look set to impact some markets, the chief executive of Budweiser owner AB InBev said Friday. Beer has a “characteristic as a category that is incredible, which is beer is local,” Michel Doukeris told CNBC’s Arabile Gumede. AB InBev is the world’s biggest … Read more
A Delta Airlines Boeing 737-700 seen lining up before departure at Princess Juliana airport. Fabrizio Gandolfo | Lightrocket | Getty Images Delta Air Lines shares slipped about 7% Friday after the company trimmed its 2024 earnings forecast. Delta forecast full-year earnings per share of $6 to $7, below its previous estimate of more than $7 … Read more
Larry Fink Cameron Costa | CNBC Bitcoin ETFs have arrived after a hard fought battle between the crypto industry and the Securities and Exchange Commission. Larry Fink, CEO of BlackRock — the biggest asset manager in the world — thinks it’s just the first step toward a new financial world. ETFs, or exchange-traded funds, were … 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
Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company’s full-year profit outlook was below a previous forecast, and the stock fell 5% in … Read more
