{"id":65922,"date":"2023-01-17T08:59:38","date_gmt":"2023-01-17T13:59:38","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65922"},"modified":"2023-01-17T08:59:38","modified_gmt":"2023-01-17T13:59:38","slug":"coffee-with-greta-more-big-bank-earnings","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/01\/17\/coffee-with-greta-more-big-bank-earnings\/","title":{"rendered":"Coffee With Greta: More Big Bank Earnings"},"content":{"rendered":"<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">-114 (-0.3%)<\/span><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">-8 (-0.2%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">-28 (-0.3%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Good morning friends!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Futures are lower as Q4 earnings season continues.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Morgan Stanley Jumps After Earnings Beat<\/span><\/h2>\n<p><b>Morgan Stanley <\/b><span style=\"font-weight: 400;\">(MS) shares are up 2.2% ahead of the open after beating Q4 expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the bank\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPS: $1.26 vs $1.25 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $12.75 billion vs $12.64 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Morgan Stanley\u2019s wealth management division posted record net revenues of $6.63 billion, up 6% year over year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chairman and CEO James Gorman said, \u201cWe reported solid fourth quarter results amidst a difficult market environment. Overall, 2022 was a strong year for the Firm as our clear strategy and balanced business model enabled us to deliver an ROTCE of 16% despite the complex macro backdrop.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But Morgan Stanley\u2019s investment banking saw a big slowdown as IPOs collapsed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investment banking revenue came in at $1.25 billion, down 49% compared to a year ago.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Goldman Sachs Falls On Earnings Miss<\/span><\/h2>\n<p><b>Goldman Sachs <\/b><span style=\"font-weight: 400;\">(GS) shares are falling 2.8% in premarket trade after missing Q4 expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPS: $3.32 vs $5.48 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $10.59 billion vs $10.83 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It was the biggest profit miss since October 2011 as earnings plunged 66% year over year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Revenue was down 16% from a year ago.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Operating expenses jumped 11% year over year to $8.09 billion, about $800 million higher than analysts were expecting.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Activist Investor Takes Stake In Alibaba<\/span><\/h2>\n<p><b>Alibaba <\/b><span style=\"font-weight: 400;\">(BABA) shares are up 0.2% ahead of the open following reports activist investor Ryan Cohen bought a large stake in the company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.wsj.com\/articles\/activist-investor-ryan-cohen-takes-stake-in-alibaba-and-pushes-for-more-stock-buybacks-11673886440\"><span style=\"font-weight: 400;\">Wall Street Journal<\/span><\/a><span style=\"font-weight: 400;\"> reported Cohen has built a stake in the Chinese e-commerce giant worth hundreds of millions of dollars.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He\u2019s reportedly pushing the company to accelerate and expand its share-repurchase program.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alibaba had repurchased roughly $18 billion worth of its shares as of November 16.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cohen has reportedly told the board the current share buyback plan could be boosted by $20 billion, to roughly $60 billion.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Housing Market In Focus This Week<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The majority of economic data set to come out this week will be focused on the housing market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The National Association of Homebuilders releases its January sentiment index Wednesday morning at 10:00 a.m. ET.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then the Commerce Department reports housing starts and building permits for December at 8:30 a.m. ET on Thursday.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And on Friday, the National Association of Realtors reports existing home sales at 10:00 a.m. ET.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This week also includes more inflation data with the December PPI and retail sales both set to be released at 8:30 a.m. ET on Wednesday.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Key Earnings After The Close<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are the companies set to report earnings after the market close today:\u00a0<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>United Airlines <\/b><span style=\"font-weight: 400;\">(UAL)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DJIA Futures: -114 (-0.3%) SPX Futures: -8 (-0.2%) NASDAQ Futures: -28 (-0.3%) Good morning friends! Futures are lower as Q4 earnings season continues.\u00a0 Let\u2019s get right to it! Morgan Stanley Jumps After Earnings Beat Morgan Stanley (MS) shares are up 2.2% ahead of the open after beating Q4 expectations.\u00a0 Here\u2019s how the bank\u2019s results compared to analysts\u2019 expectations:\u00a0 EPS: $1.26 vs $1.25 expected Revenue: $12.75 billion vs $12.64 billion expected Morgan Stanley\u2019s wealth management division posted record net revenues of $6.63 billion, up 6% year over year.\u00a0 Chairman and CEO James Gorman said, \u201cWe reported solid fourth quarter results amidst a difficult market environment. Overall, 2022 was a strong year for the Firm as our clear strategy and balanced business model enabled us to deliver an ROTCE of 16% despite the complex macro backdrop.\u201d But Morgan Stanley\u2019s investment banking saw a big slowdown as IPOs collapsed.\u00a0 Investment banking revenue came in at $1.25 billion, down 49% compared to a year ago.\u00a0 Goldman Sachs Falls On Earnings Miss Goldman Sachs (GS) shares are falling 2.8% in premarket trade after missing Q4 expectations.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 expectations:\u00a0 EPS: $3.32 vs $5.48 expected Revenue: $10.59 billion vs $10.83 billion expected It was the biggest profit miss since October 2011 as earnings plunged 66% year over year.\u00a0 Revenue was down 16% from a year ago.\u00a0 Operating expenses jumped 11% year over year to $8.09 billion, about $800 million higher than analysts were expecting.\u00a0 Activist Investor Takes Stake In Alibaba Alibaba (BABA) shares are up 0.2% ahead of the open following reports activist investor Ryan Cohen bought a large stake in the company.\u00a0 The Wall Street Journal reported Cohen has built a stake in the Chinese e-commerce giant worth hundreds of millions of dollars. He\u2019s reportedly pushing the company to accelerate and expand its share-repurchase program.\u00a0 Alibaba had repurchased roughly $18 billion worth of its shares as of November 16.\u00a0 Cohen has reportedly told the board the current share buyback plan could be boosted by $20 billion, to roughly $60 billion.\u00a0 Housing Market In Focus This Week The majority of economic data set to come out this week will be focused on the housing market.\u00a0 The National Association of Homebuilders releases its January sentiment index Wednesday morning at 10:00 a.m. ET.\u00a0 Then the Commerce Department reports housing starts and building permits for December at 8:30 a.m. ET on Thursday.\u00a0 And on Friday, the National Association of Realtors reports existing home sales at 10:00 a.m. ET.\u00a0 This week also includes more inflation data with the December PPI and retail sales both set to be released at 8:30 a.m. ET on Wednesday.\u00a0 Key Earnings After The Close Here are the companies set to report earnings after the market close today:\u00a0 United Airlines (UAL)<\/p>\n","protected":false},"author":41,"featured_media":65924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=65922"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65922\/revisions"}],"predecessor-version":[{"id":65927,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65922\/revisions\/65927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65924"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}