For the first time in recent memory, financials investors are judging bank earnings by Main Street borrowing versus Wall Street trading.» Read More
"People are starting to increase inventory to build for a better economy and a better outlook in quarters three and four," Richard Davis, chief executive of U.S. Bancorp, said after the bank reported earnings on Wednesday. U.S. Bancorp reported a 12.4 percent rise in commercial loans by volume for the quarter.
MINNEAPOLIS— U.S. Bancorp on Wednesday reported earnings that rose by 1.6 percent in its second quarter, and beat analysts' expectations. The Minneapolis- based bank reported net income after dividends on preferred stock of $1.43 billion, or 78 cents per share, compared with $1.41 billion, or 76 cents per share, in the same quarter a year ago.
For some of Wall Street's biggest names, quarterly results are expected to be weak, while the future is pockmarked with uncertainty.
WASHINGTON, July 1- Creditors to Puerto Rico's electricity provider were given a slight respite on Tuesday when the bonds' trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority will soon use a new bankruptcy-like process to restructure its debts.
WASHINGTON, July 1- Creditors to Puerto Rico's troubled electricity provider were given a slight respite on Tuesday when the bonds' trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority will soon use a new bankruptcy-like process to restructure its debts.
WASHINGTON, July 1- Moody's pushed its rating on Puerto Rico's debt deeper into junk territory on Tuesday and prices of the island's troubled electric authority's bonds plunged as investors awaited word on whether they would receive a scheduled payment on the securities.
June 30- U.S. Bank, a part of U.S. Bancorp, will pay $200 million to resolve allegations that it certified home loans for government insurance even though they did not meet regulatory requirements, the U.S. Justice Department said.
Banks looking to get in on a booming market for financing new-car sales have run into a formidable competitor: the auto manufacturers themselves.
Looking at the price action in Bank of America on Tuesday, Jim Cramer thinks financials may be coming back into favor on Wall Street.
Here's how the wealthiest people may manage their fortunes in 25 years.
It's Talking Squawk, the official "Squawk Box" blog, this week with Bill Miller on bitcoin, a truce between eBay and Carl Icahn, and Sam Zell on taxes.
Reacting to an article suggesting Warren Buffett has lost his touch, CNBC's Jim Cramer looks at Berkshire Hathaway's stocks and likes what he sees.
Take a look at some of Thursday's midday movers:
Some of the names on the move ahead of the open.
Paychex and Citigroup are in the news after the bell Wednesday
Only Zions Bancorporation, a Salt Lake City, Utah- based lender with $56.0 billion in assets, would be left with a regulatory capital ratio beneath the Fed's 5.0 percent minimum under the exercise. M&T Bank Corp 5.9 Bank of America Corp 6.0. Morgan Stanley 6.1 Ally Financial Inc 6.3.
Government bonds were little changed after the US government's auction of three-year Treasury notes, the first of three debt auctions this week.
The "Fast Money" traders share their final trades of the day.
Eight of the nation's largest banks will begin using their own models and systems to calculate the amount of capital they need to set aside.
A new report finds that financial institutions are doing a much better job than retailers when it comes to credit card security.