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What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
Bank of America Merrill Lynch and Wells Fargo beat Wall Street estimates for third-quarter earnings Friday.
BAML reported earnings of $0.48 per share, even with the second quarter, beating analysts estimates of $0.46. Investment banking feesincreased 1% to $1.5 billion, the best third-quarter performance since Bank of America acquired Merrill Lynch.
he disagrees with his colleagues about the need for more rate hikes, and why the Fed is keeping an eye on fintech.
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Elsewhere in Wall Street news, Goldman Sachs is reportedly exploring options for its stake in The Weinstein Company, and Deutsche Bank is hiring in credit trading.
Wall Street banks have realized they can't do it all themselves. And c
In investing news, Brevan Howard, an $11 billion hedge fund, is betting on volatility in the world's most important market.
Maverick Capital, a $10.5 billion hedge fund, is jumping on one of the hottest trends in investing. Two two protégés from billionaire Steve Cohen's investment firm are gearing up for a big hedge fund launch. A hedge fund started by a pioneering female investor has lost more than half its assets in two years.
And a star stock picker at Fidelity was reportedly fired after an allegation of sexual harassment.
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his man quit his job at Morgan Stanley to embrace his obsession with air miles — and he now flies first class for a living.
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