Goldman Sachs climbed on earnings results Wednesday, while Morgan Stanley and Bank of America eased after beating estimates. On Tuesday, JPMorgan, Wells Fargo and BlackRock backed away from record highs after reporting second-quarter earnings, while Citigroup jumped.
Bank Of America Earnings
Bank of America reported a 6-cent increase in earnings to 89 cents per share. Revenue rose 4% to $26.5 billion.
FactSet expected earnings of 86 cents per share on $26.75 billion in revenue.
Average deposits climbed 3% while average loans jumped 7%. Net interest income increased 7%.
Bank of America eased slightly Wednesday, reversing from an early move back to the 21-day line.
BAC stock fell 4.5% last week. Shares attempted to break out above a 47.98 buy point for a consolidation at the beginning of July but have fallen out of the buy zone. Investors could have used resistance above 45 as an early entry or eveen a proper handle.
Bank of America stock trades not too far below its November 2006 all-time peak of 55.08.
Morgan Stanley Earnings
Morgan Stanley reported a 17% increase in earnings to $2.13 per share. Revenue surged almost 12% to $16.78 billion.
FactSet predicted earnings of $1.99 per share on $16.07 billion in revenue.
Morgan Stanley saw revenue growth across its institutional securities, wealth management and investment management businesses.
Morgan Stanley slid 1.3% on results.
MS stock is trading below its July 7 peak of 145.16. Shares have advanced more than 11% so far this year.
Goldman Sachs Earnings
Goldman Sachs earnings increased more than 26% to $10.91 per share on 14.5% revenue growth to $14.58 billion.
Analysts anticipated earnings of $9.65 per share on on $13.51 billion in revenue.
Goldman Sachs saw global banking revenue spike 24%, which was offset by a 3% decline in asset and wealth management revenue.
Shares climbed less than 1% Wednesday.
GS stock has jumped 23% this year, consolidating at short-term support below a July 3 high.
JPMorgan Leads Tuesday Earnings
JPMorgan Chase reported earnings of $5.24 per share, down from $6.12 per share last year. Total revenue declined 11% to $44.9 billion.
FactSet analysts expected earnings of $4.48 per share on $43.9 billion in revenue.
Net interest income climbed 2% to $23.3 billion, but didn't meet Wall Street views for $23.6 billion.
Investment banking fees increased 7% from last year, while markets revenue increased 15%.
Average deposits were down 1% from last year. But average loans climbed 1% from a year ago.
CEO Jamie Dimon in the release noted that investment banking activity started to slow, but gained momentum as market sentiment improved.
"The U.S. economy remained resilient in the quarter," Dimon said in the release. "The finalization of tax reform and potential deregulation are positive for the economic outlook, however, significant risks persist — including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices."
JPMorgan earlier this month announced plans to increase its dividend to $1.50 per share from $1.40 per share starting in the third quarter.
JPMorgan shares ticked down Tuesday.
JPM stock is up almost 20% in 2025 and extended, up 13% from a breakout in May.
See The 5 Best Stocks To Buy And Watch Right Now
Wells Fargo, BlackRock Report
Wells Fargo reported earnings of $1.60 per share, up from $1.33 per share last year. Revenue increased slightly to $20.82 billion. Analysts polled by FactSet expected earnings of $1.41 per share on $20.75 billion in revenue.
Net interest income declined 2% to $11.7 billion, short of estimates for $11.9 billion, with Wells cutting its full-year NII target.
Consumer banking and lending revenue declined 3% for the quarter. Corporate and investment banking revenue increased 4% from last year. Wealth management revenue climbed 4%.
Wells Fargo shares fell 5.5% Tuesday.
WFC stock is up 12.3% so far this year, having retreated from the top of a three-month rally.
BlackRock reported a 16% increase in earnings to $12.05 per share adjusted. Revenue jumped 13% to $5.42 billion.
FactSet analysts expected earnings of $10.78 per share on $5.45 billion in revenue.
BlackRock's iShares ETFs saw a record first half of the year with $152 billion in year-to-date net inflows. Total net inflows for the quarter were $67.7 billion, down from $81.5 billion last year.
Total assets under management increased 18% to $12.53 trillion.
BLK shares retreated 5.9% Tuesday.
Prior to results, BlackRock stock was trending to fresh highs, but has pared its gains to just 2% on the year. BLK shares broke out from a cup-with-handle base in early June.
Citigroup reported earnings of $1.96 per share, up from $1.51 per share last year. Total revenue increased 8% to $21.67 billion.
FactSet expected earnings of $1.61 per share on $20.96 billion in revenue.
Citi stock swung 3.7% higher Tuesday.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
