WEBVTT - Big Bank Earnings; Domino's Reports

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

0:00:16.480 --> 0:00:18.279
<v Speaker 1>Take a look at some of the stocks on the

0:00:18.320 --> 0:00:20.920
<v Speaker 1>move today. I'm Paul Sweeney alongside David Gerr and we're

0:00:20.960 --> 0:00:23.560
<v Speaker 1>joined by Bloomberg's Lisa Matteo. Stocks on the Move? What

0:00:23.640 --> 0:00:25.599
<v Speaker 1>you got for us? All right, we gotta go bank earnings, right,

0:00:25.680 --> 0:00:27.159
<v Speaker 1>so I'm going to touch upon each of these. We

0:00:27.200 --> 0:00:29.800
<v Speaker 1>only have a certain amount of time for this, Okay, JP,

0:00:29.920 --> 0:00:32.360
<v Speaker 1>Morgan Chase or Tiger JPM, so they had to pick

0:00:32.400 --> 0:00:35.760
<v Speaker 1>up right. Deal making underwriting crushed estimates for the third

0:00:35.840 --> 0:00:38.440
<v Speaker 1>quarter trading investment banking fees. The firm says it was

0:00:38.440 --> 0:00:42.320
<v Speaker 1>the busiest quarter for IPOs since twenty twenty one, which

0:00:42.400 --> 0:00:45.920
<v Speaker 1>was really interesting. But here's the thing. The shares are lower.

0:00:46.040 --> 0:00:49.120
<v Speaker 1>Jamie Diamond had this cautious tony when he's talking about

0:00:49.120 --> 0:00:51.400
<v Speaker 1>the economy. He's saying, there continues to be this heightened

0:00:51.400 --> 0:00:54.400
<v Speaker 1>degree of uncertainty coming from a few things, right, like

0:00:54.480 --> 0:00:59.800
<v Speaker 1>complex geopolitical conditions, tariffs, trade uncertainty, the risk of sticky inflation.

0:01:00.240 --> 0:01:02.640
<v Speaker 1>Now because of that the bank set aside eight hundred

0:01:02.680 --> 0:01:06.240
<v Speaker 1>and ten million dollars for potentially soured loans, and that

0:01:06.440 --> 0:01:09.240
<v Speaker 1>was more than analysts expected. So that's a big part

0:01:09.480 --> 0:01:13.240
<v Speaker 1>of why those shares are lower this morning. Well, also

0:01:13.280 --> 0:01:15.560
<v Speaker 1>here I'm just letting pointing out, nobody cares. That's it.

0:01:15.560 --> 0:01:17.320
<v Speaker 2>I worked at JP's back in the day.

0:01:17.480 --> 0:01:23.280
<v Speaker 1>Go ahead, there you go among among mental he's way

0:01:23.280 --> 0:01:28.200
<v Speaker 1>to chime in. Okay, good good. Goldman Sachs ticker GS

0:01:28.240 --> 0:01:31.319
<v Speaker 1>record third quarter revenue resurgence and dealmaking.

0:01:31.400 --> 0:01:31.520
<v Speaker 2>Right.

0:01:31.520 --> 0:01:35.199
<v Speaker 1>It pushed its investment banking hall past expectations. Here's the number.

0:01:35.240 --> 0:01:37.959
<v Speaker 1>So they posted two point sixty six billion investment banking

0:01:37.959 --> 0:01:41.720
<v Speaker 1>fees that top testimates. As a whole, it reported revenue

0:01:41.720 --> 0:01:44.840
<v Speaker 1>of fifteen point eight one eight billion. That was the

0:01:44.920 --> 0:01:47.840
<v Speaker 1>largest haul for that quarter in its history, its third

0:01:47.960 --> 0:01:51.760
<v Speaker 1>highest overall for all quarters. In other news, and you

0:01:51.800 --> 0:01:54.080
<v Speaker 1>had mentioned this, Paul David Solomon saying that role of

0:01:54.160 --> 0:01:57.800
<v Speaker 1>AI driving down costs. So yeah, Goldman reported fourteen percent

0:01:57.880 --> 0:02:02.400
<v Speaker 1>jumping employee compensation. City Group. Yes, yes, there you go,

0:02:02.600 --> 0:02:05.840
<v Speaker 1>tick or C beat Wall Street revenue estimates. This was

0:02:05.880 --> 0:02:09.280
<v Speaker 1>across all five of its major business lines. You had

0:02:09.360 --> 0:02:13.480
<v Speaker 1>total revenue jump nine percent its markets, banking services, Wealth,

0:02:13.520 --> 0:02:16.120
<v Speaker 1>the US retail divisions. They all set records for the

0:02:16.160 --> 0:02:20.079
<v Speaker 1>third quarter. Traders and equities, fixed income products. They pushed

0:02:20.120 --> 0:02:22.640
<v Speaker 1>pass forecasts. They pulled in a total of five point

0:02:22.680 --> 0:02:27.320
<v Speaker 1>six billion dollars, or fifteen percent more than the year earlier.

0:02:27.960 --> 0:02:30.520
<v Speaker 1>Expenses climbed about nine percent, and then the firm also

0:02:30.600 --> 0:02:34.040
<v Speaker 1>pointed to higher spending on conversation and also on benefits too.

0:02:34.919 --> 0:02:38.880
<v Speaker 1>Wells Fargo, Yes, Wells Bargo got its original broker dealer

0:02:39.040 --> 0:02:43.840
<v Speaker 1>license in the nineties from my firm week first securities

0:02:43.840 --> 0:02:44.800
<v Speaker 1>in Richmond, Virginia.

0:02:45.200 --> 0:02:47.600
<v Speaker 2>That was original. Wow, that's when they could start trading

0:02:47.600 --> 0:02:49.399
<v Speaker 2>securities way back in the day.

0:02:49.760 --> 0:02:53.519
<v Speaker 1>Oh look at that. Okay, take your WFC. So they

0:02:53.639 --> 0:02:56.959
<v Speaker 1>raise their key profitability metric made the first major update

0:02:56.960 --> 0:02:59.679
<v Speaker 1>about the bank's next growth target, the removal of those

0:02:59.680 --> 0:03:01.840
<v Speaker 1>regular tory restraints. But this is all coming as a

0:03:01.840 --> 0:03:07.120
<v Speaker 1>firm reported net interest income slightly missed analysts estimates. And

0:03:07.280 --> 0:03:10.000
<v Speaker 1>why not end after all that banking stuff? Okay, well,

0:03:10.040 --> 0:03:15.720
<v Speaker 1>end with Domino's pizza a little reward reward, Yes, yes,

0:03:16.320 --> 0:03:20.880
<v Speaker 1>reported earnings today. They were amongst them ticker DPZ better

0:03:20.880 --> 0:03:23.240
<v Speaker 1>than expected quarterly results or shares of en up as

0:03:23.280 --> 0:03:26.680
<v Speaker 1>much as seven percent. Two things that they said were

0:03:26.800 --> 0:03:29.639
<v Speaker 1>due to it best deal ever, promotion that was the

0:03:29.680 --> 0:03:31.800
<v Speaker 1>one thing, and their stuff.

0:03:31.600 --> 0:03:37.080
<v Speaker 2>Cruss Pizza, the stock mover's report from Bloomberg Radio. Check

0:03:37.120 --> 0:03:39.480
<v Speaker 2>back with us throughout the day for the latest roundup

0:03:39.480 --> 0:03:42.440
<v Speaker 2>of companies making news on Wall Street and for the

0:03:42.520 --> 0:03:46.960
<v Speaker 2>latest market moving headlines. Listen to Bloomberg Radio Live, catch

0:03:47.040 --> 0:03:50.520
<v Speaker 2>us on YouTube, Bloomberg dot com, and on Applecarplay and

0:03:50.520 --> 0:03:52.920
<v Speaker 2>Android Auto with the Bloomberg Business app.