As banks report earnings this quarter, investors a
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Posted On: 04/17/2017 11:29:51 AM
As banks report earnings this quarter, investors and the media seem anxious about their prospects.
They should be.
Even though JPMorgan Chase, Citigroup, and Wells Fargo beat analysts’ consensus estimates when they all reported yesterday, the headline numbers don’t tell the real story.
Banks themselves had steadily walked down analysts’ expectations for almost three weeks leading up to the start of earnings releases, so it shouldn’t have come as a surprise that they magically beat forecasts.
Still, all the bank’s stocks got hit while the market slump put pressure on them yesterday
They should be.
Even though JPMorgan Chase, Citigroup, and Wells Fargo beat analysts’ consensus estimates when they all reported yesterday, the headline numbers don’t tell the real story.
Banks themselves had steadily walked down analysts’ expectations for almost three weeks leading up to the start of earnings releases, so it shouldn’t have come as a surprise that they magically beat forecasts.
Still, all the bank’s stocks got hit while the market slump put pressure on them yesterday
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