1 00:00:02,560 --> 00:00:10,480 Speaker 1: Bloomberg Audio Studios podcasts, radio news. The Stock Movers podcast, 2 00:00:10,840 --> 00:00:14,160 Speaker 1: your roundup of companies making moves in the stock market. 3 00:00:14,280 --> 00:00:16,760 Speaker 1: Harnessing the power of Bloomberg. 4 00:00:16,239 --> 00:00:18,599 Speaker 2: Data, we want to take a look at some of 5 00:00:18,640 --> 00:00:20,840 Speaker 2: the stocks on the move today. We're joined by Bloomberg's 6 00:00:21,079 --> 00:00:23,720 Speaker 2: pretty good dog, Critty. Thank you for joining us. It 7 00:00:23,800 --> 00:00:26,280 Speaker 2: is a huge day for bank earnings. They're coming out 8 00:00:26,320 --> 00:00:28,080 Speaker 2: fast and furious. We're heard from the likes of Wells 9 00:00:28,120 --> 00:00:30,000 Speaker 2: Fargo so far and JP Morgan. 10 00:00:30,160 --> 00:00:32,680 Speaker 3: What can you tell us by good morning, Lisa. Absolutely, 11 00:00:32,680 --> 00:00:35,280 Speaker 3: you are seeing JP Morgan's numbers just kind of blow 12 00:00:35,280 --> 00:00:37,440 Speaker 3: everyone away. With a hint of caution, it's kind of 13 00:00:37,440 --> 00:00:39,879 Speaker 3: a win win scenario for JP Morgan right now. Let 14 00:00:39,920 --> 00:00:42,040 Speaker 3: me walk you through it. A win when it comes 15 00:00:42,080 --> 00:00:44,159 Speaker 3: to equities, for sure. They're sales and trading revenue for 16 00:00:44,200 --> 00:00:47,120 Speaker 3: the first quarter coming in at about three point eight 17 00:00:47,240 --> 00:00:50,600 Speaker 3: one billion. The estimate there was three point one eight billion. 18 00:00:50,600 --> 00:00:52,120 Speaker 3: At first glance. That looks like a typo, but that 19 00:00:52,200 --> 00:00:54,840 Speaker 3: is actually the win for the equities team over at 20 00:00:54,920 --> 00:00:57,560 Speaker 3: JP Morgan. The FIIC revenue coming in a little bit 21 00:00:57,640 --> 00:00:59,400 Speaker 3: lower though, and that's where you see the pain point 22 00:00:59,400 --> 00:01:02,560 Speaker 3: this morning for JP Morgan a five point eight five billion. 23 00:01:02,680 --> 00:01:05,160 Speaker 3: The estimate was five point nine to nine billion. Nevertheless, 24 00:01:05,200 --> 00:01:08,319 Speaker 3: they are also announcing a first quarter net reserve build 25 00:01:08,400 --> 00:01:12,160 Speaker 3: of nine hundred and seventy three million dollars, something that 26 00:01:12,240 --> 00:01:15,480 Speaker 3: Jamie Diamond is saying is prudent to maintain excess capital 27 00:01:15,720 --> 00:01:18,920 Speaker 3: and ample liquidity. If you look at the initial commentary 28 00:01:18,959 --> 00:01:21,520 Speaker 3: on the street right now, it is nothing but positive, 29 00:01:21,600 --> 00:01:23,840 Speaker 3: not only because of this massive trading beat with the 30 00:01:23,920 --> 00:01:26,959 Speaker 3: volatility that always helps the trading houses, but also because 31 00:01:27,000 --> 00:01:29,160 Speaker 3: liquidity is your friend right now, and that is something 32 00:01:29,240 --> 00:01:31,840 Speaker 3: Jamie Diamond had said earlier in the week as well. 33 00:01:31,880 --> 00:01:35,240 Speaker 3: So JP Morgan stock JPM is your ticker training higher 34 00:01:35,280 --> 00:01:38,240 Speaker 3: by almost four percent this morning, two hundred and thirty 35 00:01:38,280 --> 00:01:41,360 Speaker 3: five dollars a share and change. It's not the only 36 00:01:41,400 --> 00:01:43,840 Speaker 3: one though. Leasa Wells Fargo also getting a bit of 37 00:01:43,840 --> 00:01:46,880 Speaker 3: a boost this morning. WFC is your ticker higher by 38 00:01:46,920 --> 00:01:50,200 Speaker 3: about three tenths of one percent. Now, their earnings did 39 00:01:50,200 --> 00:01:51,880 Speaker 3: fall a little bit short when it comes to the 40 00:01:51,920 --> 00:01:55,040 Speaker 3: net interest income front, but they're also talking about some 41 00:01:55,080 --> 00:01:57,760 Speaker 3: liquidity stories there as well. They are saying they're preparing 42 00:01:57,760 --> 00:02:00,760 Speaker 3: for a slower economic environment in twenty twenty talk about 43 00:02:00,760 --> 00:02:04,160 Speaker 3: continued volatility and uncertainty, so not seeing the massive rally 44 00:02:04,200 --> 00:02:07,840 Speaker 3: of JP Morgan, but still in positive territory. This morning, 45 00:02:07,880 --> 00:02:10,359 Speaker 3: we're looking at an interest income of eleven point five billion. 46 00:02:10,400 --> 00:02:13,960 Speaker 3: The estimate there was eleven point eight so as we speak, 47 00:02:13,960 --> 00:02:16,359 Speaker 3: I should mention some of those gains are getting paired 48 00:02:16,480 --> 00:02:19,239 Speaker 3: as well. Not a great sign in all the financials. 49 00:02:19,280 --> 00:02:22,520 Speaker 3: We should talk about Blackrock for a moment. BLK is 50 00:02:22,560 --> 00:02:24,600 Speaker 3: your ticker, trading at eight hundred and eighty one dollars 51 00:02:24,639 --> 00:02:28,000 Speaker 3: a share, down just shy of two percent this morning, Lisa. 52 00:02:28,040 --> 00:02:30,320 Speaker 3: It's hard to be down in today's market. The breath 53 00:02:30,440 --> 00:02:34,480 Speaker 3: on the upside is pretty large, but Blackrock has managed 54 00:02:34,520 --> 00:02:37,000 Speaker 3: that given that they are talking about fun flows that 55 00:02:37,040 --> 00:02:39,640 Speaker 3: fell short of those analyst estimates, so the market certainly 56 00:02:40,000 --> 00:02:42,760 Speaker 3: not rewarding that story either. There's a couple of other 57 00:02:42,760 --> 00:02:45,000 Speaker 3: stocks they want to bring to your attention on the downside, 58 00:02:45,080 --> 00:02:48,040 Speaker 3: because Texas Instruments is not one we talk about very often, 59 00:02:48,080 --> 00:02:51,160 Speaker 3: but it's one that demands everyone's attention. This morning. TXN 60 00:02:51,320 --> 00:02:54,440 Speaker 3: is your ticker, down about three percent, seeing some real 61 00:02:54,480 --> 00:02:58,000 Speaker 3: weakness when it comes to some of their production. They 62 00:02:58,040 --> 00:03:01,440 Speaker 3: are on pace for their largest person scent decrease since 63 00:03:01,520 --> 00:03:03,200 Speaker 3: March of twenty twenty when it comes to some of 64 00:03:03,240 --> 00:03:05,880 Speaker 3: their production. So seeing some pain already when it comes 65 00:03:05,960 --> 00:03:10,360 Speaker 3: to the tariff story and the demand for chips as well. Lisa, 66 00:03:10,400 --> 00:03:11,880 Speaker 3: as you know, I'm sitting here in London. There's a 67 00:03:11,880 --> 00:03:14,560 Speaker 3: stock here in London that got quite a beating so 68 00:03:14,639 --> 00:03:17,080 Speaker 3: far in the European session, and that is a BP 69 00:03:17,240 --> 00:03:20,680 Speaker 3: Bridge Petroleum. It is down about eight tenths of one 70 00:03:20,720 --> 00:03:23,960 Speaker 3: percent in the London session. But the usadrs are having 71 00:03:23,960 --> 00:03:26,000 Speaker 3: a moment in the sun hired by one point four percent, 72 00:03:26,040 --> 00:03:29,480 Speaker 3: same ticker BP for the US eight rs. They announced 73 00:03:29,480 --> 00:03:31,720 Speaker 3: some weak debt numbers. They're worried about some of their 74 00:03:31,720 --> 00:03:34,119 Speaker 3: oil production. Of course their natural gas as well. When 75 00:03:34,120 --> 00:03:36,520 Speaker 3: you see oil prices come down, this is a company 76 00:03:36,600 --> 00:03:38,680 Speaker 3: that does not do well. But see some real divergence 77 00:03:38,680 --> 00:03:41,200 Speaker 3: this morning between the London trade and the New York trade. 78 00:03:41,240 --> 00:03:46,640 Speaker 1: This morning the Stock Movers podcast from Bloomberg Radio. Check 79 00:03:46,680 --> 00:03:49,200 Speaker 1: back with us throughout the day for the latest roundup 80 00:03:49,240 --> 00:03:52,080 Speaker 1: of companies making news on Wall Street and for the 81 00:03:52,160 --> 00:03:56,560 Speaker 1: latest market moving headlines. Listen to Bloomberg Radio Live. Catch 82 00:03:56,640 --> 00:03:59,680 Speaker 1: us on YouTube, Bloomberg Dot com and on Applecarplay, and 83 00:03:59,680 --> 00:04:02,120 Speaker 1: Andrew rod Auto with the Bloomberg Business app 84 00:04:07,080 --> 00:04:07,440 Speaker 3: MHM.