• The world's largest money manager is making a killing on the hottest investment product around

    1 month ago - By Business Insider

    BlackRock , the world's largest money manager with $5.69 trillion in assets under management, reported better-than-expected earnings on Wednesday , which sent its stock to a record high.
    And shares could go even higher, according to Credit Suisse. "Following 3Q17 results, BLK remains our top traditional asset manager Outperform as we forecast strong net flows in 2018/19 and EPS growth of 15-20%," analyst Craig Siegenthaler said in a note Thursday.
    The Swiss bank has raised its price target for shares of BlackRock to $612 from $597, 28% above the current stock price of $477.
    Most of the...
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  • Here are the key points from the memo JPMorgan's investment bank chief just sent to staff

    Here are the key points from the memo JPMorgan's investment bank chief just sent to staff

    1 month ago - By Business Insider

    The CEO of JPMorgan's corporate and investment bank sent a note out to employees on Thursday to highlight the firm's earnings report.
    JPMorgan Thursday morning posted earnings of $1.76 per share, above the $1.65 consensus, with the corporate and investment banking unit topping forecasts.
    "Last year's record third quarter somewhat overshadows year-over- year comparisons, but this quarter was quite good in its own right, with solid underlying performances across the businesses," Daniel Pinto, CEO of JPMorgan's corporate and investment bank, wrote in a memo seen by Business Insider.
    Trading...
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  • Bank stocks are climbing after the first batch of earnings beats

    Bank stocks are climbing after the first batch of earnings beats

    1 month ago - By Business Insider

    The first two of the big banks reported earnings on Thursday morning, and all of the major banks are rising following the reports.
    JPMorgan and Citi posted their third-quarter earnings beats and saw their stocks rise after the results.
    First, JPMorgan earned $1.76 per share, well above Wall Street's consensus estimate of $1.65 as revenue from fixed income trading plunged 27% from the same point last year.
    Then, Citigroup posted earnings of $1.42 per share and reported its fixed-income unit saw revenue fall 16% compared to a year ago.
    The rest of the major banks will report their earnings...
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  • Here are the key points from the memo JPMorgan's investment bank chief just sent to staff

    Here are the key points from the memo JPMorgan's investment bank chief just sent to staff

    1 month ago - By Business Insider

    The CEO of JPMorgan's corporate and investment bank sent a note out to employees on Thursday to highlight the firm's earnings report.
    JPMorgan Thursday morning posted earnings of $1.76 per share, above the $1.65 consensus, with the corporate and investment banking unit topping forecasts.
    "Last year's record third quarter somewhat overshadows year-over- year comparisons, but this quarter was quite good in its own right, with solid underlying performances across the businesses," Daniel Pinto, CEO of JPMorgan's corporate and investment bank, wrote in a memo seen by Business Insider.
    Trading...
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