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Friday, October 9, 2015

Big Banks Earnings particularly Wells Fargo's To Watch Next Week

Big Banks Earnings To Watch Next Week

TheStreet's Jim Cramer says he's particularly focused on Wells Fargo's (WFC) third quarter earnings results. Cramer say CEO John Stumpf told him that 'this time he's not going to let his interest rate margin go down just because they have to be stuck with that very low Fed funds rate, they are investing over the curve.' Cramer says that means 'they may actually produce a little more money with the money that they have.' He adds, that there was a nice note on Friday 'about how the buyback and dividends are shaping up. I think Wells Fargo is the cheapest. Notice the stock has not gone down unlike a lot of the other bank stocks, that's because I think the net interest margin is going to be very good.' 'Wells Fargo better than J.P. Morgan', says Cramer. Analysts polled by Reuters are expecting the bank to post earnings of $1.05 a share on revenue of $21.76 billion. Shares of Wells Fargo are down more than 4 percent year-to-date.

Thursday, October 8, 2015

Deutsche Bank Loss Threatens Bonuses and Dividends

October 8 -- Deutsche Bank AG co-Chief Executive Officer John Cryan may eliminate a dividend that’s stood since Germany’s postwar reconstruction as he tries to overhaul the firm without asking shareholders for more capital. Europe’s biggest investment bank said it’s writing down the value of its two largest divisions and boosting reserves for legal costs which will probably lead to a third-quarter loss of 6.2 billion euros ($7 billion) -- the largest quarterly loss in at least a decade. The shares rose as much as 3.1 percent and were 1 percent higher as of 10:33 a.m. in Frankfurt trading, erasing earlier losses of as much as 3.6 percent.

Gold Prices headed Higher?

Anthem Vault Founder Anthem Blanchard on the outlook for gold prices and the impact of Federal Reserve policy.
Watch Maria Bartiromo talk about Investing Basics and Precious Metals on Mornings With Maria.