1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The Stock Movers podcast 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:16,480 Speaker 1: harnessing the power of Bloomberg data. 4 00:00:17,920 --> 00:00:19,959 Speaker 2: Let's take a look at some stocks they're on the 5 00:00:20,000 --> 00:00:22,279 Speaker 2: move today. We're joined by Luci. 6 00:00:22,120 --> 00:00:25,160 Speaker 1: Mateo for the Stock Movers. 7 00:00:25,200 --> 00:00:27,120 Speaker 2: Good morning, Good morning. We have to start with bank 8 00:00:27,120 --> 00:00:29,120 Speaker 2: earnings because we've been talking about them so much. Of course, 9 00:00:29,120 --> 00:00:31,920 Speaker 2: it coming on the heels of JP Morgan, Chase, Goldman Sachs, 10 00:00:31,920 --> 00:00:34,760 Speaker 2: which reported earnings at beat estimates. So we'll start with 11 00:00:34,880 --> 00:00:38,520 Speaker 2: Bank of America stock Traders. They posted a record quarter 12 00:00:38,680 --> 00:00:42,680 Speaker 2: net interest income top estimates. Another specific, revenue from equity 13 00:00:42,720 --> 00:00:45,599 Speaker 2: trading rose seventeen percent to two point one eight billion. 14 00:00:46,000 --> 00:00:49,800 Speaker 2: Trading a fixed income, currencies, commodities came in close to expectations. 15 00:00:50,040 --> 00:00:51,600 Speaker 2: But a lot of people want to hear what the 16 00:00:51,720 --> 00:00:54,440 Speaker 2: CEOs want to say, right, So this is CEO Brian 17 00:00:54,560 --> 00:00:57,920 Speaker 2: moynihan said, it's business clients they've been performing well. Also, 18 00:00:58,000 --> 00:01:01,840 Speaker 2: consumers have shown resilient and that they're continuing to spend. 19 00:01:01,920 --> 00:01:04,319 Speaker 2: So that really suck out to a lot of folks. 20 00:01:04,360 --> 00:01:06,920 Speaker 2: A city group they inched a little bit closer to 21 00:01:07,000 --> 00:01:10,679 Speaker 2: key profitability target. First quarter, lifted its return tangible common 22 00:01:10,760 --> 00:01:13,520 Speaker 2: equity nine point one percent in the quarter, and that's 23 00:01:13,560 --> 00:01:16,440 Speaker 2: really big because CEO Jane Fraser, she set this target 24 00:01:16,480 --> 00:01:19,080 Speaker 2: for reaching ten to eleven percent by the end of 25 00:01:19,160 --> 00:01:22,000 Speaker 2: next year, so they're kind of inching closer to that. 26 00:01:22,800 --> 00:01:27,080 Speaker 2: Traders they surpass those expectations. Trading division generated six billion 27 00:01:27,120 --> 00:01:30,000 Speaker 2: in revenue. They also drew a record hall from its 28 00:01:30,040 --> 00:01:33,600 Speaker 2: wealth business, and this is really a key area under 29 00:01:33,640 --> 00:01:36,520 Speaker 2: Fraser saw twenty four percent revenue drump to a record 30 00:01:36,560 --> 00:01:39,720 Speaker 2: two point one billion. The only downfall the equity sall 31 00:01:39,760 --> 00:01:42,160 Speaker 2: a City Group lagged increases of more than forty percent 32 00:01:42,200 --> 00:01:46,760 Speaker 2: at rivals JP Morgan Chase and Morgan Stanley. And another 33 00:01:46,800 --> 00:01:49,880 Speaker 2: one we've been talking about company is Boeing. The shares 34 00:01:49,880 --> 00:01:52,120 Speaker 2: of slid as much as four percent this morning before 35 00:01:52,160 --> 00:01:54,880 Speaker 2: the bell. They're saying China has ordered its airlines not 36 00:01:54,960 --> 00:01:57,320 Speaker 2: to take any further deliveries for its jets. It also 37 00:01:57,320 --> 00:02:01,000 Speaker 2: has the Chinese carriers they stop any purchases of aircraft related 38 00:02:01,000 --> 00:02:04,880 Speaker 2: equipment parts from US companies. It's about ten Boeing seven 39 00:02:04,960 --> 00:02:07,760 Speaker 2: thirty seven Max aircraft. They're preparing to enter Chinese airline 40 00:02:07,800 --> 00:02:10,799 Speaker 2: fleets in case you're wondering how big is this significant? 41 00:02:11,440 --> 00:02:13,640 Speaker 2: But it's the trade wars heating up. We've been talking 42 00:02:13,680 --> 00:02:16,400 Speaker 2: about it. President Trump right levy tariffs one hundred and 43 00:02:16,400 --> 00:02:19,600 Speaker 2: forty five percent on Chinese goods. Beijing then had those 44 00:02:19,639 --> 00:02:23,000 Speaker 2: retaliatory tariffs one hundred and twenty five and it changes. 45 00:02:23,240 --> 00:02:25,600 Speaker 2: And that's the whole thing is that even this can 46 00:02:25,680 --> 00:02:27,919 Speaker 2: change at any moment. So we don't know. We've already 47 00:02:27,919 --> 00:02:30,520 Speaker 2: seen President Trump kind of backtrack on some US levies 48 00:02:30,560 --> 00:02:34,000 Speaker 2: too from here, but it just just goes to show 49 00:02:34,040 --> 00:02:37,040 Speaker 2: you through Boeing, Oh through Monday, Boeing shares have declined 50 00:02:37,040 --> 00:02:40,120 Speaker 2: about ten percent this year, so we can have planes. 51 00:02:40,160 --> 00:02:42,239 Speaker 2: You had the auto industry too, we talked about this 52 00:02:42,280 --> 00:02:45,679 Speaker 2: morning because President Trump said they might temporarily exempt the 53 00:02:45,720 --> 00:02:48,880 Speaker 2: auto industry from tariffs that he previously imposed. That goes 54 00:02:49,080 --> 00:02:50,960 Speaker 2: back to the back and forth that we've been having. 55 00:02:51,800 --> 00:02:56,359 Speaker 2: So you have manufacturers like Toyota, Hondas, Zuki climbed over 56 00:02:56,480 --> 00:03:00,000 Speaker 2: five percent in Tokyo, Korea's Hyundai rose over five percent. 57 00:03:00,040 --> 00:03:03,239 Speaker 2: And then the European carmakers too on the flip side, 58 00:03:03,240 --> 00:03:05,800 Speaker 2: they're on the rise. If Stilantis jumped about six percent. 59 00:03:05,840 --> 00:03:09,360 Speaker 2: Volkswagen BMW both rose over two percent, General Motors and 60 00:03:09,400 --> 00:03:12,200 Speaker 2: Fourth though there they've been lower this morning, down about 61 00:03:12,520 --> 00:03:17,120 Speaker 2: one percent. For both of your head spinning, what's going on? 62 00:03:17,160 --> 00:03:19,760 Speaker 2: I enjoy it, but it's it's hard to keep track 63 00:03:19,800 --> 00:03:22,079 Speaker 2: because it just keeps changing. You know, we don't know 64 00:03:22,120 --> 00:03:23,120 Speaker 2: what's happening in the next hour. 65 00:03:23,760 --> 00:03:29,919 Speaker 1: Actually, the Stock Movers podcast from Bloomberg Radio. Check back 66 00:03:29,960 --> 00:03:32,360 Speaker 1: with us throughout the day for the latest roundup of 67 00:03:32,400 --> 00:03:35,600 Speaker 1: companies making news on Wall Street and for the latest 68 00:03:35,640 --> 00:03:39,800 Speaker 1: market moving headlines. Listen to Bloomberg Radio Live, catch us 69 00:03:39,840 --> 00:03:43,160 Speaker 1: on YouTube, Bloomberg dot com, and on Applecarplay and Android 70 00:03:43,200 --> 00:03:45,200 Speaker 1: Auto with the Bloomberg Business app.