Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Take a look at some of the stocks on the
Speaker 1: move today. I'm Paul Sweeney alongside David Gerr and we're
Speaker 1: joined by Bloomberg's Lisa Matteo. Stocks on the Move? What
Speaker 1: you got for us? All right, we gotta go bank earnings, right,
Speaker 1: so I'm going to touch upon each of these. We
Speaker 1: only have a certain amount of time for this, Okay, JP,
Speaker 1: Morgan Chase or Tiger JPM, so they had to pick
Speaker 1: up right. Deal making underwriting crushed estimates for the third
Speaker 1: quarter trading investment banking fees. The firm says it was
Speaker 1: the busiest quarter for IPOs since twenty twenty one, which
Speaker 1: was really interesting. But here's the thing. The shares are lower.
Speaker 1: Jamie Diamond had this cautious tony when he's talking about
Speaker 1: the economy. He's saying, there continues to be this heightened
Speaker 1: degree of uncertainty coming from a few things, right, like
Speaker 1: complex geopolitical conditions, tariffs, trade uncertainty, the risk of sticky inflation.
Speaker 1: Now because of that the bank set aside eight hundred
Speaker 1: and ten million dollars for potentially soured loans, and that
Speaker 1: was more than analysts expected. So that's a big part
Speaker 1: of why those shares are lower this morning. Well, also
Speaker 1: here I'm just letting pointing out, nobody cares. That's it.
Speaker 2: I worked at JP's back in the day.
Speaker 1: Go ahead, there you go among among mental he's way
Speaker 1: to chime in. Okay, good good. Goldman Sachs ticker GS
Speaker 1: record third quarter revenue resurgence and dealmaking.
Speaker 2: Right.
Speaker 1: It pushed its investment banking hall past expectations. Here's the number.
Speaker 1: So they posted two point sixty six billion investment banking
Speaker 1: fees that top testimates. As a whole, it reported revenue
Speaker 1: of fifteen point eight one eight billion. That was the
Speaker 1: largest haul for that quarter in its history, its third
Speaker 1: highest overall for all quarters. In other news, and you
Speaker 1: had mentioned this, Paul David Solomon saying that role of
Speaker 1: AI driving down costs. So yeah, Goldman reported fourteen percent
Speaker 1: jumping employee compensation. City Group. Yes, yes, there you go,
Speaker 1: tick or C beat Wall Street revenue estimates. This was
Speaker 1: across all five of its major business lines. You had
Speaker 1: total revenue jump nine percent its markets, banking services, Wealth,
Speaker 1: the US retail divisions. They all set records for the
Speaker 1: third quarter. Traders and equities, fixed income products. They pushed
Speaker 1: pass forecasts. They pulled in a total of five point
Speaker 1: six billion dollars, or fifteen percent more than the year earlier.
Speaker 1: Expenses climbed about nine percent, and then the firm also
Speaker 1: pointed to higher spending on conversation and also on benefits too.
Speaker 1: Wells Fargo, Yes, Wells Bargo got its original broker dealer
Speaker 1: license in the nineties from my firm week first securities
Speaker 1: in Richmond, Virginia.
Speaker 2: That was original. Wow, that's when they could start trading
Speaker 2: securities way back in the day.
Speaker 1: Oh look at that. Okay, take your WFC. So they
Speaker 1: raise their key profitability metric made the first major update
Speaker 1: about the bank's next growth target, the removal of those
Speaker 1: regular tory restraints. But this is all coming as a
Speaker 1: firm reported net interest income slightly missed analysts estimates. And
Speaker 1: why not end after all that banking stuff? Okay, well,
Speaker 1: end with Domino's pizza a little reward reward, Yes, yes,
Speaker 1: reported earnings today. They were amongst them ticker DPZ better
Speaker 1: than expected quarterly results or shares of en up as
Speaker 1: much as seven percent. Two things that they said were
Speaker 1: due to it best deal ever, promotion that was the
Speaker 1: one thing, and their stuff.
Speaker 2: Cruss Pizza, the stock mover's report from Bloomberg Radio. Check
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Speaker 2: of companies making news on Wall Street and for the
Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch
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