JPMorgan, Bank of America beat Q2 estimates; IBM plunges 17% on weak preliminary results

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3▲0 ▼4Impact / 5
Summary · why it matters

Several major companies made premarket moves following their latest quarterly results. JPMorgan Chase reported earnings of $6.14 per share on revenue of $58.02 billion, exceeding analyst expectations of $5.85 per share and $50.19 billion, though shares edged slightly lower. Bank of America posted earnings of $1.21 per share on revenue of $31.7 billion, topping the consensus estimates of $1.13 per share and $30.72 billion, but its stock was flat. Wells Fargo earned $2 per share on revenue of $22.62 billion, beating forecasts of $1.72 per share and $21.84 billion, yet shares fell 1%. Apple slipped about 1% after KeyBanc downgraded the stock to underweight with a $250 price target, citing consumer spending pressures. IBM plunged 17% after its preliminary second-quarter earnings of $2.93 per share missed the FactSet consensus of $3.01 per share. Ericsson dropped nearly 10% as revenue of SEK52.70 billion fell short of the SEK53.94 billion estimate, and its adjusted gross margin of 48.4% came in below expectations.

Impact on assets 10

Financials▲
Bank of America Corp
BAC
± MixedCapitalrelevance

Bank of America beat Q2 estimates but stock was flat; no clear directional impact from earnings beat alone.

Wells Fargo & Company
WFC
± MixedCapitalrelevance

Wells Fargo beat Q2 estimates but shares fell 1%; no clear directional impact.

Digital Finance & Tokenization▲
JPMorgan Chase & Co
JPM
± MixedCapitalrelevance

JPMorgan beat Q2 estimates but shares edged slightly lower; mixed market reaction.

Artificial Intelligence▼
Apple Inc.
AAPL
▼ NegativeCapitalrelevance

KeyBanc downgraded Apple to underweight with a $250 price target, citing consumer spending pressures.

Information Technology▼
Quantum Computing▼