Shares of PNC Financial Services rose nearly 2 percent in premarket trading Friday after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC
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Check out which companies are making headlines before the bell: JPMorgan Chase – The bank earned $2.29 per share for the second quarter, beating forecasts by 7 cents a share. Revenue was also above forecasts, helped by what CEO Jamie Dimon called “open and active capital markets” that helped drive fee and markets revenue. Walt
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The bank has been under pressure for several quarters because of multiple probes into its sales practices. Two years ago, the scandal burst into the public eye when it was disclosed that retail bank employees had created fake accounts in customers’ names to meet sales targets. Sales issues later emerged in other businesses, such as
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Still, CEO Michael Corbat said in a statement that Citigroup “drove strong year-over-year revenue growth in many of our businesses – including our International Consumer franchise, Treasury and Trade Solutions, Equities, and the Private Bank. And we continue to support our clients as evidenced by solid loan growth that was balanced across businesses and geographies.”
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J.P. Morgan Chase, the biggest U.S. lender by assets, posted record second-quarter profit of $8.32 billion, exceeding estimates as it posted stronger-than-expected trading results. Profit surged 18 percent, clobbering analyst estimates for a 9.4 percent increase. Earnings per share were $2.29 in the quarter, beating the $2.22 estimate. It was the 14th straight quarter that
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Northrop Grumman chairman and CEO Wes Bush announced on Thursday he will step down as CEO effective Jan. 1, but will remain chairman through July 2019. Kathy Warden, who currently acts as company president and COO of the global security company, has been selected by the board to fill the role vacated by Bush in
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