News Highlights: Top Company News of the Day - Friday at 9 AM ET
January 12 2024 - 9:15AM
Dow Jones News
JPMorgan Posts Record Annual Profit Despite Quarterly Slip
The biggest bank in the U.S. has benefited from higher interest
rates, which increased margins in its lending business.
Bank of America's stock slides 2% as earnings almost halve from a year ago
Bank of America's revenue came up short of estimates on Friday,
as it booked special charges and paid a $2.1 billion fee to the
FDIC.
Wells Fargo's stock falls as credit-loss provisions jump, profit was in line
Wells Fargo's stock dropped Friday, after the California-based
bank set aside a lot more money for potential losses on loans, and
reported fourth-quarter profit that rose just in line with
forecasts.
BlackRock to Buy Infrastructure Firm for $12.5 Billion
The acquisition of Global Infrastructure Partners, a
private-equity firm focused on infrastructure, would be BlackRock's
largest in 15 years.
Delta almost doubles Q4 profit, but shares slide on lowered earnings guidance
Delta sees aFor 2024, Delta expects earnings of $6 to $7 a
share, below the target of over $7 a share the company outlined at
an investor day in December 2022.
Apple Directors Al Gore, James Bell to Retire
The former U.S. vice president had been a board member since
2003.
Tesla Production in Europe Upended by Red Sea Conflict
The decision to halt production in Germany raises the specter of
a new supply-chain crisis for European manufacturers dependent on
parts from Asia.
Carta Competitors See Surge in Demand
Customers of Carta, spurred by the shuttering of its secondary
trading division and a loss of trust in the 14-year-old company,
are reaching out to competitors about potentially switching over to
their services.
Why Big Tech Is Still Minding Its Bills
Layoffs at Google and Amazon kick off a year that will see
higher AI spending but likely limited revenue impact.
Grayscale Faces New Risk-Management Challenge With Bitcoin ETF Approval
With the Securities and Exchange Commission's approval of U.S.
exchange-traded funds holding bitcoin, cryptocurrency asset manager
Grayscale Investments must focus more on managing risk and
communicating with participants, Chief Financial Officer Ed McGee
said.
(END) Dow Jones Newswires
January 12, 2024 09:00 ET (14:00 GMT)
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