Beat the street: Bank of America; UnitedHealth; Johnson & Johnson; United Airlines
Bank of America’s Q1 profit and net interest income slid, but investment banking fees jumped 35%. Johnson & Johnson’s quarterly revenue comes in below analysts' estimates as Stelara sales disappoint.
Plus, UnitedHealth Q1 profit beats estimates. Jeremy Naylor looks at IG’s bespoke sentiment data to see how clients are positioned. IGTV’s Angeline Ong previews United Airlines results.
(AI Video Summary)
Bank of America’s Q1 profit decline
In today's edition of "Beat the street," key financial updates include Bank of America's Q1 profit decline, with net interest income down by 3% despite a 35% jump in investment banking fees. Johnson & Johnson reports lower-than-expected quarterly revenues, attributed to disappointing Stelara sales. UnitedHealth's shares rise after surpassing Q1 profit expectations, despite a significant data breach impact. The video also covers the slightly underwhelming building permits and housing starts data, unlikely to significantly sway Wall Street's movement.
Morgan Stanley's Q1 profit increase
Additionally, Morgan Stanley sees a profit increase in Q1, buoyed by strong revenues in equity underwriting. With geopolitical tensions and upcoming Fed speakers, financial markets remain attentive to potential shifts, especially regarding interest rates. The IG platform's sentiment analysis indicates a predominantly long position among its clients on various stocks. The video wraps with insights into the trading day's opening, pointing to a modestly higher start and stabilised volatility levels amidst ongoing geopolitical concerns and market anticipations.
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