Here’s Why Big Bank Stocks Like JPMorgan Are Struggling Despite Solid Earnings
Shares of JPMorgan Chase, the largest U.S. bank by assets, lost nearly 6% on Friday, despite beating profit and revenue estimates.

The company’s net income fell 26% in the fourth quarter, with Citigroup blaming rising expenses for the sharp decline.The only major bank to report earnings and buck the trend on Friday was Wells Fargo, shares of which jumped nearly 3% after better-than-expected revenue and a large jump in profits.

 

The fourth-largest U.S. bank by assets, Wells Fargo said lending activity is picking up again, adding that the latest quarterly results were boosted by an $875 million reserve release, which had been set aside to shield against loan losses.

Read more: https://onlinemarketingscoops.com/heres-why-big-bank-stocks-like-jpmorgan-are-struggling-despite-solid-earnings/

YOUR REACTION?

Facebook Conversations

Disqus Conversations