{"id":35732,"date":"2023-07-14T14:37:49","date_gmt":"2023-07-14T18:37:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/jpmorgan-citigroup-state-street-unitedhealth-att-and-more-market-movers\/"},"modified":"2023-07-14T14:37:52","modified_gmt":"2023-07-14T18:37:52","slug":"jpmorgan-citigroup-state-street-unitedhealth-att-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35732","title":{"rendered":"JPMorgan, Citigroup, State Street, UnitedHealth, AT&T, and More Market Movers"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Stocks traded mostly higher after some of the largest U.S. banks on Friday reported second-quarter earnings that topped Wall Street forecasts. The
\n S&P 500
\n pared earlier gains but was set to close the week higher. <\/p>\n

These stocks were making moves Friday:\u00a0<\/p>\n

\n

\n JPMorgan Chase
\n (ticker: JPM) rose 0.4% after the banking giant posted second-quarter earnings and revenue that beat Wall Street\u2019s forecasts. It saw a surge in profit in the period thanks to higher interest rates and its acquisition of
\n First Republic Bank
\n in May. <\/p>\n

\n Citigroup
\n (C) slid 3.4% after the bank posted second-quarter earnings and revenue that slightly beat expectations. <\/p>\n

\n Wells Fargo
\n (WFC) was falling 0.3% after the bank posted better-than-expected earnings and revenue for its second quarter. Net interest income of $13.2 billion benefited from higher interest rates.<\/p>\n

\n BlackRock
\n (BLK) beat second-quarter earnings expectations but net inflows for the asset manager fell short of expectations. The stock was falling 1.6%.<\/p>\n

U.S.-listed shares of
\n Ericsson
\n (ERIC) were tumbling 11% after the Swedish telecommunications giant reported second-quarter adjusted operating profit that fell 62% from a year earlier on a sharp decline in networking-equipment sales.<\/p>\n

American depositary receipts of Finnish telecommunications company
\n Nokia
\n (NOK) dropped 9.2% after the company cut its 2023 sales forecast,
\n Nokia
\n (NOK) cut its sales outlook and narrowed its margin guidance on Friday, citing a weaker demand outlook in the second half of the year. <\/p>\n

Networking gear makers
\n Juniper Networks
\n (JNPR) and
\n Cisco Systems
\n (CSCO) declined on the Ericcson and
\n Nokia
\n news, falling 5.8% and 2.3%, respectively.<\/p>\n

\n State Street
\n (STT) tumbled 10% after the financial-services company posted second-quarter net interest income that rose from a year earlier but missed analysts\u2019 expectations. Revenue also came up short. The stock was the worst performer in the
\n S&P 500.<\/span>\n <\/p>\n

\n UnitedHealth
\n (UNH) was rising 7.1% after posting second-quarter earnings that beat analysts\u2019 estimates and raising its 2023 earnings outlook. <\/p>\n

\n Alcoa
\n (AA) declined 7% after the aluminum maker was downgraded to Neutral from Overweight at J.P. Morgan.<\/p>\n

\n AT&T
\n (T) fell 4.2% to $14.49 after the telecom company was downgraded to Neutral from Overweight at J.P. Morgan. It would be the lowest close since February 23, 1994 when it closed at $14.16, according to Dow Jones Market Data. Earlier this week, The Wall Street Journal published an article that said
\n AT&T,<\/span><\/p>\n

Verizon Communications
\n (VZ), and other telecom companies have network cables covered in potentially toxic lead across the U.S., some laid by predecessor companies. <\/p>\n

\n Eli Lilly
\n (LLY) rose 3.1% after it reached a deal to buy Versanis Bio, a privately held biotech that is testing a monoclonal antibody drug called bimagrumab as a new treatment for obesity. <\/p>\n

\n Nvidia
\n (NVDA) traded 0.7% higher to $463.09 after the price target on the chip maker\u2019s stock was raised to $545 from $470 at
\n Truist.<\/span>\n <\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks traded mostly higher after some of the largest U.S. banks on Friday reported second-quarter earnings that topped Wall Street forecasts. The S&P 500 pared earlier gains but was set to close the week higher. These stocks were making moves Friday:\u00a0 JPMorgan Chase (ticker: JPM) rose 0.4% after the banking giant posted second-quarter earnings and […]<\/p>\n","protected":false},"author":1,"featured_media":35733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-35732","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nJPMorgan, Citigroup, State Street, UnitedHealth, AT&T, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks traded mostly higher after some of the largest U.S. banks on Friday reported second-quarter earnings that topped Wall Street forecasts. 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