Commerce Bancshares continued growing its wealth management business in the first quarter, after announcing two quarters earlier that it was targeting that business. The trust fees portion of the wealth management business increased 11% year over year, driven by higher private client fees, the regional...
Turmoil can be challenging for everyday consumers but offer the sophisticated investor opportunity. Citigroup on Tuesday (April 15) announced its first quarter 2025 financial results, spotlighting a 23% bump in trading profits amid ongoing macro uncertainty. At the same time, Citi’s credit costs increased 15%...
PNC Financial Services Group is leveraging technology and its other strengths as it helps clients manage the uncertainty caused by tariffs, executives said Tuesday (April 15) during the bank’s quarterly earnings call. With this uncertainty roiling the markets and raising concerns of a potential recession,...
Consumers are still spending, Bank of America’s earnings showed Tuesday (April 15), despite the volatility of what CEO Brian Moynihan termed a “changing economy.” The supplementals revealed that credit and debit spend was up 4%, while the number of transactions gained 2%, to $228...
Luxury goods retailer LVMH Moët Hennessy Louis Vuitton said it is prepared to increase prices on its products and take other mitigation strategies if negotiations over tariffs during the 90-day suspension are unproductive. “We all need to stay very calm because we are in unknown...
Economic uncertainty is casting a long shadow over the year ahead. Bank leaders are framing 2025 as a year of “wait and see” marked by resilience, optionality and gradual acceleration. That was the story for Wells Fargo’s Q1 earnings call Friday (April 11), where CEO...
For J.P. Morgan, caution abounds as the bank increased loan loss provisions, designed to cover possible loan losses amid economic turbulence. Management discussed on a conference call Friday (April 11) discussing first-quarter earnings that at the moment, credit performance is in line with expectations, but...
CarMax’s digital capabilities now support over 80% of its used car sales, executives said Thursday (April 10) during a quarterly earnings call. The user car retailer and auto finance company saw increases in both omnichannel and online retail sales during the fourth quarter, which ended...
Delta Air Lines saw year-over-year revenue growth of 3.3% in the March quarter as it dealt with “broad economic uncertainty.” While the results were different from what the company expected at the beginning of the year, they remained “solid” in the current, uncertain environment, Delta...
