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Goldman Sachs Trumps 4Q Earnings Estimates

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 5:03
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This is this Imus in the morning.

-- on the phone -- Good morning everyone Goldman Sachs analyst earnings this morning -- fox business's Liz MacDonald lived in the newsroom.

Keeping track above the latest list looks like another -- here and other be here for Goldman Sachs coming in at five dollars and sixty cents -- dozens of three dollars and 78 cents.

You know -- the the big headline coming out of Goldman Sachs is essentially.

A strong -- -- performance across all of it's deaths.

And also we're seeing the annual compensation is still coming in pretty healthy vs -- firm's net revenues.

Coming in -- 38% that's trending in line with what it wasn't 111 went up.

But the big -- also coming out at JPMorgan Chase this -- and nice earnings beat on an adjusted basis of about thirty -- five verses estimates of a buck sixteen.

That's their stock is still.

Week in premarket trading now even though overall over the year it's up 32%.

JPMorgan Chase is not trending very nicely in premarket trading down a little bit.

And what's happening here is.

Analyst and Wall Street traders are looking at the bank's third quarter vs its fourth quarter performance some of those profiteers not coming in strong -- third quarter.

And even they'll look again across the board on an annualized basis for -- guarantees even -- the trading desks -- simply firing.

On all cylinders at its fixed income its currency commodity and equities desks.

The three quarter and -- -- -- is not -- so sweet and also Diane we're still seeing possible questions still hanging over the bank.

Over continuing regulatory probes.

Into the bank's trading losses six billion in trading losses of biggest trading loss ever last year JPMorgan Chase did -- the London whale issue.

All but still this -- the third straight year of record profits are JPMorgan Chase even taking into account.

That's six billion dollar trading loss JPMorgan chase not really laying off as many people as the other banks certainly not as many as -- Morgan Stanley.

Or Citigroup at -- or Bank of America.

But -- -- something still look good earnings mourning for bank in new York Mellon.

Goldman Sachs Sachs and JPMorgan Chase despite all the problems there JPMorgan back to you.

And -- on the JPMorgan but I know one of the things we were expecting at least was an internal report essentially criticizing the top executives there about their handling.

Of the loss in the aftermath of it is there any more news on the you know there's not too much detail in that internal report that's being released to the media this morning as expected but by the way this internal report.

Comes after -- -- big enforcement actions earlier in the week Diane.

Against JPMorgan Chase due to lax regulatory and internal controls.

And the risk management controls coming in -- the Federal Reserve also Office of the Comptroller of the Currency telling the bank ordering the bank to beef up its oversight activities.

And certainly with the chief risk officer there Jamie Dimon the headline coming up there he is taking a -- more than 50% cut in annual compensation down from 23 million.

Vs your primaries taking only eleven and a half I should say only but eleven and half million in compensation.

But at today's -- -- The company is the bank is essentially saying look they're lending activities -- credit -- -- -- Our play a familiar Vanilla activities.

And also are trading -- are coming in quite nicely Becky diamond.

All right Liz -- from the newsroom thankless -- And while investors are watching those bank earnings closely -- apparently even more concerned over these debt ceiling negotiations -- -- that he has more on that from our newsroom hi Lauren.

Hey -- and -- -- -- has been pretty resilient the -- coming into today up for the past five sessions in a -- we have some.

Solid indicators like the Dow transports hitting their highest level in history the Vicks index that's the fear gauge that's relatively low so.

There's a sense of complacency out there well this morning it seems like we're a little bit scared we do have a selloff here in the premarket stock certainly -- to open lower.

And one of the main issues that we're talking about now is this debt ceiling debate.

And according to a Bank of America Merrill Lynch survey that is -- most pressing.

Concern for investors right now after the debt ceiling they're worried about the European debt crisis and after that a hard landing for China.

You wonder when you get better than expected bank earnings for the most part why you see markets down there's an answer there.

Talk just about this good news for chipotle fans have to have -- -- we wanna cater it tried to outlay.

To -- -- Mexican -- testing this -- that beginning in Colorado that's where they're headquartered.

And that they're gonna do -- on Monday if it's successful they're gonna roll out nationwide in the next couple of months so this is a great idea for.

Party -- out there.

Harry -- big event -- and that it from the -- thank learned the F.

Let's take a look at futures now we've got a mixed market the S&P and Dow futures are down to the nasdaq's up commodities are in the Red Cross the border.

Imus in the morning continues right now on Fox Business.

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