Bank Earnings On Tap
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 14 April 2023
⏱️ 10 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Friday, April 14th, and I'm your host Julie Morgan. |
| 0:12.0 | Bank earnings are in focus today |
| 0:13.8 | as some of the big names like JP Morgan Chase, |
| 0:16.7 | Wells Fargo, and Citigroup report pre-market. |
| 0:20.1 | Adobe agrees to pay millions of dollars to settle kickback allegations. |
| 0:25.1 | And a deal has been reached for the sale of the Washington commanders NFL team. |
| 0:30.8 | Our top story, with concern over recent banking turmoil, investors will be keenly attuned to what the first big banks Q1 earnings revealed today. In the waning three weeks of the quarter, the failures of Silicon Valley Bank, Silvergate |
| 0:45.1 | Capital and Signature Bank had bank customers and investors nervous about the stability of the |
| 0:51.2 | financial system. |
| 0:52.6 | Chiefly analysts will hone in on deposit levels. |
| 0:56.3 | For the mega banks such as JP Morgan Chase and Wells Fargo, |
| 0:59.7 | deposits are expected to rise as the customers of some smaller, regional banks shift |
| 1:04.8 | uninsured deposits to larger institutions. Seeking Alpha has a full breakdown of |
| 1:10.5 | earnings expectations including the full bank earnings calendar. |
| 1:14.5 | I'll leave a link to that article in show notes. |
| 1:17.3 | On tap for today pre-market, J.P. Morgan Chase, Wells Fargo, Citigroup, PNC Financial, and Black Rock. |
| 1:25.0 | The New York Post is reporting that Wells Fargo Representatives are scheduled to meet with the staff |
| 1:31.0 | from the U.S. Office of the Comptroller of the Currency today. |
| 1:34.8 | The Federal Banking Regulator was said to have hit Wells Fargo with a number of matters requiring |
| 1:40.1 | attention, partly motivated by the bank failures in March that focused on concerns of |
| 1:45.2 | inadequate internal financial controls and oversight of equity and fixed income traders. |
... |
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