Page 25 - Ben Eisen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Provided by Dow Jones By Ben Eisen Wells Fargo & Co. said earnings soared in the first three months of the year after the bank released some of the money it put aside for bad loans earlier in the pandemic. The San Francisco-based lender on Wednesday posted a profit of $4.74 billion for the first quarter, up from $653 million a year earlier. A year ago, Wells Fargo and other big banks set aside billions of dollars to prepare for a coronavirus recession, hammering their profits at the time. Per-share earnings were $1.05, beating the 71 cents forecast in a Fa...

By Peter Rudegeair, Orla McCaffrey and Ben Eisen A stock-market boom fueled by Reddit-reading individual investors and a burst of companies entering the public markets produced record quarterly profits at Wall Street's biggest banks. Goldman Sachs Group Inc. posted records in quarterly revenue and profit. JPMorgan Chase & Co. notched its highest quarterly profit on record, driven by record revenue from trading stocks. Even Wells Fargo & Co., a minnow on Wall Street, enjoyed its best-ever quarterly profit in corporate and investment banking. The party showed no signs of endin...

Provided by Dow Jones By Ben Eisen Bank of America Corp. said its profit doubled in the first three months of the year after it released money that it had set aside for bad loans. The Charlotte, N.C.-based lender on Thursday posted earnings of $8.05 billion for the first quarter. That compared with $4.01 billion a year earlier, when banks took big hits to their earnings to begin stockpiling rainy-day reserves at the beginning of the pandemic. Bank of America made 86 cents a share, beating the 66 cents forecast in a FactSet poll of analysts. Earnings ...

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POLITICO Get the Morning Money newsletter Email Sign Up By signing up you agree to receive email newsletters or updates from POLITICO and you agree to our privacy policy and terms of service. You can unsubscribe at any time and you can contact us here. This sign-up form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 04/14/2021 08:00 AM EDT Editor’s Note: Morning Money is a free version of POLITICO Pro Financial Services' morning newsletter, which is delivered to our subscribers each morning at 6 a.m. The POLITICO Pro platform combines the news you need w...