Morgan Stanley’s 30% Profit Drop Sends Stock Price Down
The Wall Street firm reported lower fees and weaker revenue from trading stocks in the third quarter.
Citigroup Quarterly Profit Falls 25%
The bank reported a 25 percent decline in profit in the third quarter, versus last year, in part because of “very challenging markets.”
JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit on some investments.
Posted inBanking and Financial Institutions Citigroup Inc Company Reports Consumer Behavior Credit and Debt Dimon, James Fraser, Jane (1967- ) Gorman, James P JPMorgan Chase & Company Morgan Stanley Scharf, Charles W United States Economy Wells Fargo & Company
JPMorgan, Citigroup and Other Big Banks See Profits Drop
Lenders foresee economic “headwinds,” but household spending is mostly holding up, buffering profits from turmoil in financial markets.