trending Market Intelligence /marketintelligence/en/news-insights/trending/mq7Mzcn7k5n4z5BGTmxjwg2 content
Log in to other products

Login to Market Intelligence Platform

 /

Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Strong earnings propel shares of JPMorgan, First Republic; Wells Fargo slides

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Strong earnings propel shares of JPMorgan, First Republic; Wells Fargo slides

The first day of 2019 fourth-quarter earnings saw stronger-than-expected results despite bleak earnings expectations for most large banks.

First Republic Bank, JPMorgan Chase & Co. and Citigroup Inc. all saw their stocks jump after reporting results that outperformed consensus analyst estimates. The market also punished Wells Fargo & Co. shares after the bank reported lower earnings due to legal issues, however.

First Republic reported 2019 fourth-quarter net income available to common shareholders of $235.6 million, or $1.39 per share. The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.28. The company's stock is up about 5.26% around 11:14 a.m. ET.

The "strong core beat" was due to robust loan and deposit growth and wealth management strength, improved efficiency and lower-than-expected provisions, Jefferies analysts wrote in a research note on the company's results.

JPMorgan reported net income applicable to common stockholders of $8.09 billion, or $2.57 per share, in the fourth quarter of 2019. The S&P Global Market Intelligence consensus GAAP EPS estimate for the fourth quarter of 2019 was $2.36. The company's stock was up about 2.16% around 11:14 a.m. ET.

The drivers of JPMorgan's EPS upside were better fee income performance and lower credit costs, Baird analyst David George wrote in a research note.

Citigroup posted 2019 fourth-quarter net income of $4.98 billion, or $2.15 per share. The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.81. The company's stock was up about 2.15% around 11:15 a.m. ET.

The results were primarily driven by interactive broker trading, higher costs and credit in-line with expectations, Jefferies analysts wrote.

Wells Fargo reported net income applicable to common stock of $2.55 billion, or 60 cents per share. The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.12.

The company's stock was down about 3.81% around 11:15 a.m. ET. In a research note, Jefferies analysts described Wells Fargo's 2019 fourth-quarter EPS, which was lower due to a big litigation reserve and other heightened expenses, as "messy."