Earnings live: Bank of America stock rises on earnings beat, Wells Fargo stock dips

Banking giants Bank of America (BAC) and Wells Fargo (WFC) reported 4th fourth net and rising yearly profits connected Wednesday morning. Bank of America banal roseate astir 1%, portion Wells Fargo banal fell by the aforesaid amount.

Yahoo Finance's David Hollerith reports:

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Days aft President Trump projected capping recognition paper involvement rates astatine 10%, firm executives warned that the argumentation would person wide-ranging ramifications and perchance wounded consumers if enacted.

"If it happened the mode it was described, it would beryllium dramatic," JPMorgan Chase CEO Jamie Dimon said connected the company's net call. JPMorgan is the nation's apical recognition paper issuer, handling $1.34 cardinal successful acquisition volume.

The company's CFO, Jeremy Barnum, added that consumers would apt look work changes arsenic a result, peculiarly recognition paper users with subprime hazard profiles, who whitethorn look much fiscal instability.

"People volition suffer entree to credit, similar connected a very, precise extended and wide basis, particularly the radical who request it the most, ironically," Barnum said. "And truthful that's a beauteous severely antagonistic effect for consumers and, frankly, astir apt besides a antagonistic effect for the system arsenic a full close now."

It's unclear however Trump could instrumentality a one-year recognition paper APR bounds without authorities from Congress. To that end, connected Tuesday, US ‌House Speaker ‌Mike Johnson took up the contented and said helium would research the president's idea.

Johnson besides acknowledged determination could beryllium "unintended consequences" of specified a determination — a sentiment echoed by Delta Air Lines CEO Ed Bastian successful the company's net telephone connected Tuesday.

Delta offers a co-branded recognition paper with American Express (AXP) that contributes an estimated 13% of its yearly revenue. The concern continues to beryllium a lucrative 1 for Delta: Delta's gross from the paper grew 11% twelvemonth implicit twelvemonth to $8.2 cardinal successful 2025, the institution reported Tuesday.

"I deliberation 1 of the large issues and challenges with the imaginable bid is the information that it would really restrict the lower-end user from having entree to immoderate credit, not conscionable what the involvement complaint they're paying, which would upend the full recognition paper industry," Bastian said. "So from our standpoint, we'll beryllium moving intimately with American Express, but I don't spot immoderate mode we could adjacent statesman to contemplate however that would beryllium implemented."

Cardinal Health (CAH) banal roseate astir 4% earlier the doorbell connected Tuesday aft raising its 2026 nett forecast.

MT Newswires reports:

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US concern slope JPMorgan (JPM) posted 4th fourth results connected Tuesday that bushed gross estimates but missed net expectations, arsenic nett income was deed pursuing its woody to instrumentality implicit the Apple Card (AAPL) from Goldman Sachs (GS).

Yahoo Finance's elder newsman David Hollerith looks astatine the latest net merchandise from JPM.

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Delta Airlines' (DAL) banal sank 5% earlier the doorbell connected Tuesday contempt posting upbeat Q4 results, arsenic forecasts fell beneath estimates.

The hose institution said maturation successful the premium concern and deficiency of definite headwinds would propel its concern guardant successful 2026.

Yahoo Finance's elder newsman Pras Subramanian delves into the latest results from Delta.

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Investors are expecting a low-volatility net season, fixed softer enactment volumes implicit the past 2 weeks and balanced positioning, according to a Jan. 8 enactment connected tactical net trades from the Goldman Sachs Investment Research team.

The analysts estimated the mean implied net time banal determination — however overmuch the marketplace expects a banal to plaything pursuing firm results, based connected options information — is 4.5% successful either direction, beneath the semipermanent average.

"With little fearfulness priced in, it is much hard to spot alleviation rallies connected net days," they wrote.

Still, the Goldman Sachs squad noted that having vulnerability to stocks done their net events remains important for cardinal investors. Just 2 quarters ago, the existent moves connected net days for idiosyncratic stocks were astatine their highest level since 2009.

Where the squad does expect much volatility is successful utility, healthcare, materials, and concern stocks, which "have been making the astir unusually ample moves connected earnings-day successful caller quarters."

The large fiscal institutions are penciled successful to study 4th fourth results this week, including the nation's largest bank, JPMorgan Chase (JPM), which is expected to uncover different twelvemonth of grounds gross and 1 of its champion years successful profits.

Other large fiscal firms, including Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), and Morgan Stanley (MS), are besides expected to uncover conscionable however bully 2025 was for concern bankers.

Yahoo Finance's David Hollerith previews what to expect:

Read the afloat slope net preview here.

A slate of net reports from the large fiscal institutions marks the unofficial commencement of net season. But investors volition besides get an aboriginal work of the hose industry, chipmakers, and logistics operators from different firm net opening to travel this week.

Here's a look astatine the net calendar for the week of Jan. 12:

Tuesday: JPMorgan Chase (JPM), BNY Mellon (BK), Delta Air Lines (DAL), Concentrix Corporation (CNXC), Phoenix Education Partners (PXED)

Wednesday: Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), Infosys (INFY), Bitmine Immersion Technologies (BMNR), Home Bancshares (HOMB), Platinum Group Metals (PLG)

Thursday: Taiwan Semiconductor Manufacturing Company (TSM), Goldman Sachs (GS), Morgan Stanley (MS), BlackRock (BLK), JB Hunt Transport Services (JBHT), First Horizon Corporation (FHN)

Friday: PNC Financial (PNC), State Street (STT), M&T Bank (MTB), Wipro (WIT), Regions Financial (RF), BOK Financial (BOKF)