Big Bank earnings, March housing data: What to Watch

The first-quarter earnings season is in full swing, with major companies reporting their results throughout the day on Tuesday, April 16. Among them include Big Bank stocks Bank of America (BAC), Morgan Stanley (MS), and PNC Financial Services Group (PNC). Market Domination Overtime's Julie Hyman and Josh Lipton highlight the other companies also set to report earnings and the US housing starts print expected out tomorrow. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.

Profits surge at Goldman Sachs on Wall Street revival

Profits rose 28% for Goldman during the first quarter as the Wall Street giant recorded improvements in everything from investment banking to trading to wealth management.

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  Investment-Banking Fees Surge at Goldman Sachs

  The Wall Street Journal
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  Goldman Sachs’ CEO says AI is driving more companies to reinvent themselves: ‘We’re talking about a level of scale that is candidly unprecedented’

  Fortune

Mercantile Bank Corporation Announces Robust First Quarter Results

Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $21.6 million, or $1.34 per diluted share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023.

Mercantile Bank Corporation Declares Regular Cash Dividend

Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on April 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share, payable on June 19, 2024, to holders of record as of June 7, 2024. The $0.35 cash dividend is approximately 6 percent higher than the cash dividend paid during the second quarter of 2023.

Japan's Yen Hits a Fresh Three-Decade Low of 154

(Bloomberg) -- Japan’s finance minister stopped short of issuing his strongest warning on possible market intervention in comments that fueled renewed yen weakness after the currency slumped to a fresh 34-year low overnight.Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarApple Faces Worst iPhone Slump Since Covid as Rivals RiseIsrael Versus Iran — What All-Out War Could Look LikeTe

Bank of America Set to Report Earnings as High Interest Rates Cut Both Ways

Analysts polled by FactSet expected the bank to report earnings of $0.76 per share on revenue of $25.5 billion.

First Horizon Corporation Names Thomas Hung Chief Credit Officer, Susan Springfield Announces Retirement

First Horizon Corporation (NYSE: FHN or "First Horizon") today announced that Thomas Hung, Executive Vice President, Head of Franchise Finance, will be named Senior Executive Vice President, Chief Credit Officer, effective October 1, 2024. Hung will succeed Susan Springfield, Senior Executive Vice President, Chief Credit Officer, who has served in this role since 2013.

Why BNY Mellon (BK) Might Surprise This Earnings Season

BNY Mellon (BK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

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  Lower NII to Hurt BNY Mellon (BK) Q1 Earnings, Fee Income to Aid

  Zacks
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  Is a Surprise Coming for Bank of America (BAC) This Earnings Season?

  Zacks

Is a Surprise Coming for Bank of America (BAC) This Earnings Season?

Bank of America (BAC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

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  Should You Buy United Airlines (UAL) Ahead of Earnings?

  Zacks
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  Why BNY Mellon (BK) Might Surprise This Earnings Season

  Zacks