US Banks Report Good Earnings, But Warn Of Hit If No More Stimulus

Large US banks reported better-than-expected results Tuesday on an improving economy, but cautioned that the recovery could falter if Washington fails to enact new stimulus measures.

“It’s important and it needs to happen as quickly as possible,” said Citi Chief Financial Officer Mark Mason, who added that massive spending from Washington has helped avert a tidal wave of delinquencies so far.

JPMorgan Chase executives warned of a “double-dip” recession if there is not another package. That takes place when a second period of economic contraction follows an initial recovery.

“The people we need to help the most are small businesses and the unemployed,” said JPMorgan Chief Executive Jamie Dimon, who said Washington’s actions will determine whether it needs to take much higher reserves for bad loans.

“If the better outcomes happen” with a good a stimulus package, “we are over reserved by $10 billion,” he said. But if there is

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Delta Air’s Must-Hold Support Level After Earnings Miss

Delta Air Lines  (DAL) – Get Report shares are under pressure, down about 2% after the Atlanta carrier reported its quarterly results.

That is actually decent price action for the stock, considering what the company turned in.

Revenue plunged 76% in the third quarter and Delta reported a loss of $8.47 a share. That was only marginally better than the prior quarter.

The company posted an adjusted loss of $2.3 billion, “although that figure excluded around $4 billion of charges linked to the pandemic.” 

Also concerning is the fact that management said traffic would likely take at least two years to return to prepandemic levels.

Despite the poor results and the bad news, Delta stock isn’t getting crushed. That has my attention.

Trading Delta Stock

Daily chart of Delta stock.

Daily chart of Delta stock.

Given the current situation, Delta is doing the best it can. But these are

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JPMorgan trading surge boosts earnings

JPMorgan Chase & Co. reported third-quarter profit rose 4%, boosted by strong trading results as global markets recovered from their coronavirus-induced plunge.

The New York-based lender, the largest in the U.S., earned $9.44 billion, or $2.92 per share, outpacing the $2.23 that analysts surveyed by Refintive were expecting. Revenue slipped 0.2% to $29.94 billion, still higher than the $28.29 billion analysts anticipated.

Ticker Security Last Change Change %
JPM JP MORGAN CHASE & CO. 100.78 -1.66 -1.62%

The investment banking business “continues to be a big driver of firm performance with markets revenue up 30% and global investment banking fees up 9%,” JPMorgan CEO Jamie Dimon said in a statement.

CORONAVIRUS VACCINE MORE IMPORTANT FOR STOCKS THAN PRESIDENTIAL ELECTION WINNER: GOLDMAN SACHS

Markets revenue totaled $6.6 billion as equity trading grew 32% while

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Universal Insurance Holdings Announces Third Quarter 2020 Earnings Release and Conference Call Date


Universal Insurance Holdings, Inc. (NYSE: UVE) will issue a press release reporting its third quarter results after the close of trading on the NYSE on Tuesday, October 27, 2020. The company will host a conference call on Wednesday, October 28, 2020, at 9:00 a.m. Eastern Time (ET) to discuss its third quarter 2020 financial results.


Conference Call and Webcast


  • Wednesday, October 28, 2020 at 9:00 a.m. ET

  • U.S Dial-in Number: (855) 752-6647

  • International: (503) 343-6667

  • Participant code: 5317328

  • Listen to live webcast and view presentation: UniversalInsuranceHoldings.com

  • Replay of the call will be available on the UVE website and by phone at (855) 859-2056 or internationally at (404) 537-3406 using the participant code: 5317328 through November 12, 2020


About Universal Insurance Holdings, Inc.


Universal Insurance Holdings (UVE) is a holding company offering property

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AZZ Inc (AZZ) Q2 2021 Earnings Call Transcript

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

AZZ Inc (NYSE: AZZ)
Q2 2021 Earnings Call
Oct 13, 2020, 11:00 a.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good morning everyone and welcome to the AZZ Inc. Second Quarter of Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions].

At this time, I’d like to turn the conference call over to Mr. Joe Dorame, Lytham Partners. Sir, please go ahead.

Joe DorameManaging Partner, Lytham Partners

Thank you, Jamie. Good morning and thank you for joining us today to review the financial results of AZZ Inc. for the second quarter of fiscal year 2021, ended March 31, 2020. Joining the call today are Tom Ferguson, Chief Executive Officer; Philip Schlom, Interim Chief Financial Officer; and David Nark, Senior Vice President, Marketing and Communications and Investor Relations. After the conclusion of today’s prepared remarks, we will open

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M&T Bank: A Cheap Valuation Sets Up The Stock To Bounce After Third Quarter Earnings (NYSE:MTB)

Investment Thesis

Headquartered in Buffalo, New York, M&T Bank Corporation (MTB) is a $140 billion asset holding company and parent to M&T Bank. MTB has offices located throughout the Northeastern United States. Specifically, the bank has 785 branches located in Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, and a few other states.

While MTB is more of your classical “loans and deposits” type community banks, relative to super regional peers, it does have a strong wealth management presence associated with its Wilmington Trust business. While most other banks focus on growth first, I believe MTB is more focused on sound credit quality above all else. As one can see from the charts below (under “Credit Analysis”), the bank did quite well during the last recession in terms of credit pain.

As one can see from the valuation chart below, the current valuation (in terms of Price to Tangible

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Q3 Bank Earnings Up Next, With Results Likely Bolstered By Busy Trading Environment

Key Takeaways:

  • Surging IPO and M&A business appears to be helping big banks
  • Morgan Stanley
    MS
    making acquisitions as it grows money management business
  • Strong trading activity could bolster Goldman Sachs
    GS
    , Morgan Stanley, Bank of America
    BAC

A week before earnings season, Morgan Stanley (MS) lit a spark under the banking sector with its $7 billion purchase of fund manager Eaton Vance
EV
(EV).

MS isn’t the only company wheeling and dealing as earnings approach. Initial public offerings (IPOs) and mergers and acquisitions (M&A) are accelerating here in the Q4 across multiple industries. The surge began around mid-year, and might be enough to help buttress Q3 earnings for MS and some of the other big banks reporting in coming days.

With fresh M&A accompanied by an upsurge in capital markets trading activity, it feels like things might finally be looking up the banking industry.

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Stock futures flat as investors await earnings season kickoff

U.S. stock futures were flat in overnight trading on Tuesday as investors awaited the first batch of corporate earnings and updates on a stimulus package.



People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City.


© Provided by CNBC
People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City.

Dow futures fell 5 points. S&P 500 futures and Nasdaq 100 futures gained 0.02% and 0.07%, respectively.

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Futures got a lift as Disney rallied more than 5% in after hours trading after announcing a major company reorganization with streaming at the forefront of its business. Disney said it centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.

Third-quarter earnings season kicks off on Tuesday with several major banks slated to report their results, including JPMorgan Chase, Citigroup and Delta Air Lines. Third quarter results are expected to decline significantly;

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M.D.C. Holdings: Strong Total Return, Buy This Under The Radar Company With Earnings Expected To Be Strong This Quarter (NYSE:MDC)

M.D.C. Holdings (MDC) is a buy for the total return and dividend income investor. M.D.C. Holdings is among the largest homebuilders in the United States and has an increasing owned backlog of over 17,000 lots to develop and options on another 7,000.

The company has steady growth and has the cash it uses to develop new properties and homes for the average home buyer. The lower interest rates give a tailwind to the company business. The Fed has indicated that they intend to keep interest rates low for at least a year or maybe two.

As I have said before in previous articles.

I use a set of guidelines that I codified over the last few years to review the companies in The Good Business Portfolio (my portfolio) and other companies that I am reviewing. For a complete set of guidelines, please see my article “The Good Business Portfolio: Update

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How Johnson & Johnson Can Break Out to New Highs on Earnings

Johnson & Johnson  (JNJ) – Get Report continues to trade well, bubbling just below its prior all-time high. 

That has investors wondering if the healthcare juggernaut can notch new records after reporting earnings on Tuesday before the stock market opens. In fact, the charts are looking pretty familiar.

Shares of J&J traded down into the 200-day moving average ahead of earnings in July. Then the stock began to climb higher in anticipation of the results. While the upside reaction wasn’t overwhelmingly bullish, it was still positive.

It’s what allowed shares of Johnson & Johnson to continue higher, ultimately making new highs in early September.

Will the stock repeat its actions?

Johnson & Johnson is a holding in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells JNJ? Learn more now.

Trading Johnson & Johnson

Daily chart of Johnson & Johnson stock.

Daily chart of Johnson &

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