Top Midday Stories: Big Banks Kick Off Earnings Season; Johnson & Johnson to Spin Off Orthopedics Business

MT Newswires Live
Oct 14

JPMorgan Chase (JPM) reported Q3 earnings Tuesday of $5.07 per diluted share, up from $4.37 a year earlier and above the FactSet consensus estimate of $4.85. Q3 net revenue was $46.43 billion, up from $42.65 billion a year ago, which beat the $45.47 billion consensus of analysts surveyed by FactSet. JPMorgan shares were down 1.6% around midday.

Johnson & Johnson (JNJ) reported fiscal Q3 adjusted earnings Tuesday of $2.80 per diluted share, up from $2.42 a year earlier and above the FactSet consensus of $2.76. Fiscal Q3 reported sales were $23.99 billion, up from $22.47 billion a year ago and above the FactSet consensus estimate of $23.76 billion. For full-year 2025, the company raised its sales guidance to a range of $93.5 billion to $93.9 billion from $93.2 billion to $93.6 billion. Analysts polled by FactSet expect $93.48 billion. Johnson & Johnson also said it plans to separate its orthopedics business into a standalone company operating as DePuy Synthes. The separation is expected to be completed within 18 to 24 months, the company said. Johnson & Johnson shares were down 1.7%.

Wells Fargo (WFC) reported Q3 diluted EPS Tuesday of $1.66, up from $1.42 a year earlier and above the FactSet consensus of $1.55. Q3 total revenue was $21.44 billion, up from $20.37 billion a year ago and above the FactSet consensus estimate of $21.15 billion. The company also said it named Chief Executive Charlie Scharf as chairman of the board. Wells Fargo shares were up 6.4%.

Goldman Sachs (GS) reported Q3 diluted EPS Tuesday of $12.25, up from $8.40 a year earlier and above the FactSet consensus estimate of $11.03. Q3 net revenue was $15.18 billion, up from $12.70 billion a year ago and above the FactSet consensus of $14.12 billion. Goldman Sachs shares were down 2.8%.

BlackRock (BLK) reported Q3 adjusted diluted EPS Tuesday of $11.55, up from $11.46 a year earlier and above the FactSet consensus of $11.30. Q3 revenue was $6.51 billion, up from $5.92 billion a year ago and above the FactSet consensus of $6.27 billion. BlackRock shares were up 0.5%.

Citigroup (C) reported Q3 diluted EPS Tuesday of $1.86, up from $1.51 a year earlier and above the FactSet consensus of $1.73. Q3 total revenue was $22.09 billion, up from $20.21 billion a year ago and above the FactSet consensus of $21.09 billion. Citigroup shares were up 1.6%.

General Motors (GM) said Tuesday its board approved charges of $1.6 billion for GM North America in the quarter ended Sept. 30 based on a planned "strategic realignment" of its electric vehicle capacity and production footprint. General Motors shares were up 1.2%.

Boeing(BA) said Tuesday it delivered 160 commercial airplanes in Q3, a 37.9% increase from a year ago. The 737 airplane led the way with 121 deliveries, up 31.5% from a year earlier. Year to date, Boeing has delivered 440 aircraft, a 51.2% jump from the year-ago period. Boeing shares were up 0.2%.

Price: 302.23, Change: -5.75, Percent Change: -1.87

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