Earnings season opened with a heavy bank slate on Tuesday. CNBC reported that U.S. stocks fell as traders worked through third-quarter results from the largest lenders, alongside a steep overnight decline in South Korea that pressured memory-chip names.
JPMorgan's report drew the closest scrutiny: coverage of Jim Cramer's market rundown described a rare earnings-per-share miss at the country's largest bank, with fixed-income trading and expense growth as blemishes, even as the bank raised its net interest income outlook. Wells Fargo's net interest income was described as a little light for the quarter, while Citigroup beat on earnings and revenue.
Johnson & Johnson also reported: its drug business performed well, led by Tremfya, while medical devices and technology fell short, and management raised its full-year earnings guide.
On the insider-disclosure side, MarketBeat's earnings preview for Metropolitan Bank Holding notes SEC filings in which CFO Daniel Dougherty purchased 1,000 shares at an average $89.98, and director Robert Patent sold 10,000 shares at an average $92.29. Insider filings are public disclosures reported here as news. Nothing in this article is a tip or advice to buy or sell any security.
