Markets Edge Lower As Retails Sales Slump 1.9% And Banks Report A Solid Quarter

Markets Edge Lower As Retails Sales Slump 1.9% And Banks Report A Solid Quarter

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Gulf
  • Date: 14-Jan-2022
  • Source: Forbes
  • Sector: Retail
  • Country: Gulf
  • Who else needs to know?

Markets Edge Lower As Retails Sales Slump 1.9% And Banks Report A Solid Quarter

Wells Fargo WFC (WFC) revenue came in at $20. 86 billion vs. consensus of $18. 79 billion. Last year was $18. 49. Wells Fargo beat estimated earnings by 23. 21% reporting an EPS of $1. 38 versus an estimate of $1. 12 surprising analysts. Pre-market shares are up less than . 05%. Citigroup C (C) fourth quarter adjusted EPS came in a $1. 46 versus a consensus estimate of 1. 37. This came in lower than last years' same quarter at $1. 92. Revenue came in at $17. 02 billion compared to estimates of $16. 85 billion. The same period last year was $16. 83 billion. Sales were reported at $17. 00 billion which beat estimates of $16. 77 billion. Same period last year was $16. 50 billion. Pre-market shares are down 3. 6%. Revenue for fixed income and for equity trading were lower than expectated. BlackRock BLK (BLK) beat estimated earnings by 2. 66%, reporting an EPS of $10. 42 versus an estimate of $10. 15 and $10. 02 in the year ago period. Assets under management (AUM) rose 15% to $10. 1 trillion. Shares traded premarket are down 3. 2%. First Republic Bank (FRC) beat estimated earnings by…

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