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Bank of America's profit faltered by 14% in 2022Another big bank that reported its earnings on the past Friday is Bank of America. The bank generated $27.5 billion in net profit and $95 billion in revenue for the full-year 2022. Its net income decreased by 14%, and revenue rose by 6.6%. The net interest income jumped by 22%, and the noninterest income dropped by 8%. The Consumer Banking segment added over 1 million checking accounts and reached a record of 3.5 million consumer investment accounts. At the same time, it experienced net inflows from clients worth $28 billion and a jump in digital sales by 22% versus 2021. The Global Banking division experienced a 38% increase in revenue and saw a growth in average loans and leases of 14%. BofA’s Global Wealth and Investment Management segment gained more than 119 000 accounts and saw $87 billion in client inflows for the entire year. More importantly, it is on a streak of 51 consecutive quarters of average loan and lease growth. The Global Markets division saw the highest revenue and sales since 2010. In addition to that, its average loans grew by 28% year over year. Illustration 1.01 Illustration 1.01 shows the daily chart of Bank of America stock, which declined more than 26% in 2022. 2022 (full-year) vs. 2021 (full-year) Net income = $27.5 billion (vs. $32 billion in 2021; -14% YoY) Net interest income = $52.4 billion (vs. $42.9 billion in 2021; +22% YoY) Noninterest income = $42.5 billion (vs. $46.2 billion in 2021; -8% YoY) Revenue = $95 billion (vs. $89.1 billion in 2021; +6.6% YoY) Noninterest expenses = $61.4 billion (vs. $59.7 billion in 2021; +2.8% YoY) Provision for credit losses = $2.5 billion (vs. $-4.6 billion in 2021) 4Q 2022 vs. 4Q 2021 (year over year) Net income 4Q22 = $7.1 billion (vs. $7 billion in 4Q21; +1.4% YoY) Net revenue 4Q22 = $24.5 billion (vs. $22 billion in 4Q21; +11%. YoY) Net interest income 4Q22 = $14.7 billion (+48% YoY) Noninterest income 4Q22 = $9.8 billion (-8% YoY) Noninterest expenses 4Q22 = $15.5 billion ( +6% YoY) Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NYSE:BAC
by Tradersweekly
12
NYSE Composite Index WeeklyA breadth measure, the weekly has broken the down channel and survived a retest and is above the cloud. Similar pattern for SOX, XLF, and XLI. Keep a watch on the trend, it is a good tell for market direction. The NYSE Composite Index is a stock market index that includes all common stocks listed on the New York Stock Exchange (NYSE). It is calculated using a market capitalization weighted methodology, meaning that the weight of each stock in the index is based on its market capitalization, or total value of all outstanding shares. The NYSE Composite Index is considered a broad market benchmark, and is used to track the performance of the overall stock market. It is different from other stock market indices such as the Dow Jones Industrial Average or the S&P 500, which only include a subset of the stocks listed on the NYSE.
TVC:NYA
by UnknownUnicorn13101
Three stocks to watch during the ‘January Effect’ January has been historically a good month for stocks as some investors reenter the market after selling some of their holdings at the end of the year. The bullishness at the start of each year is dubbed the ‘January Effect’. On January 6, US stocks staged their first big rally of the year, with the Dow Jones Industrial Average closing 2.13%, the S&P 500 jumped 2.28% and the Nasdaq Composite gaining 2.6%. It marked the best day for the Dow and the S&P 500 since November 30, 2022, and for the Nasdaq since December 29, 2022. The rally could also be triggered by investors using their year-end cash bonuses to splurge into risky investments in January. With this in mind, we have rounded up three US stocks to watch in January: Amazon.com JP Morgan recently stated that Amazon remains its top internet pick, forecasting that the e-commerce giant will overcome macroeconomic headwinds by 2023. However, Amazon is no exception to the wave of layoffs in the tech space over the past year. The tech behemoth disclosed last week that is laying off 18,000 jobs, more than previously planned. “Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and organizations,” Amazon CEO Andy Jassy said in a blog post on January 5. But it is worth noting that Amazon remains the United States’ second-largest private employer next to Walmart. Amazon’s stock jumped 2.9% on Tuesday and 5.8% on Wednesday. Tesla Tesla recently applied to expand its Gigafactory in Texas with a $775.7 million investment, Reuters reported, citing filings with the Texas state department of licensing. The investment plan comes despite Tesla missing delivery estimates in the fourth quarter of 2022. The company delivered 405,278 electric vehicles in the three months ended December 31, up 40% from a year earlier, but missing Elon Musk’s 50% growth target. Tesla’s stock is also susceptible to its volatile CEO. The billionaire — who recently made it to the Guinness World Records for suffering the largest loss of personal fortune in history after shedding about $182 billion since November 2021 — has drawn attention from the federal government again after tweeting about disabling driver monitoring. The National Highway Traffic Safety Administration said the issue is now part of a wider investigation into accidents involving at least 14 Tesla vehicles while using the Autopilot driver assist system. Tesla rose 3.7% on Wednesday after falling by 1.6% on Tuesday. McDonald's McDonald's Corp. (NYSE: MCD) is another stock to watch in January after the largest fast-food company in the world announced that it is planning a restructuring that would result in corporate job cuts. The company told employees in a memo that it will “evaluate roles and staffing levels… and there will be difficult discussions and decisions ahead.” In the quarter ended September 30, 2022, McDonald’s net income fell 8% year over year to $1.98 billion, or $2.68 per share, as revenue slipped 5% to $5.87 billion. MCD closed up 0.6% on Tuesday but closed flat on Wednesday.
NASDAQ:NDX
by BlackBull_Markets
AMZN LONG expectation Instrument: AMZN Optimum technical indicator: OBV EMA 20 Current signal: LONG Technical indicator win-rate: 47% Days for backtesting: 2220 Timeframe for testing: 1D Forecast day price: 89,8700 Enter point: 90,000 Take-profit: 94,000 Current stop-loss: 86,6913 Multiple for stop-loss strategy ATR(14): 1,1 Average trades per month with optimum technical indicator: 3 Average time for 1 trade with optimum technical indicator: 7 Average profit per 1 trade: 1,76% Projected annual return w/o leverage: 30,2% Technical analysis applicability for 3325 technical strategies: 97% Technical analysis recommendations: Long: 36% Short: 59% Neutral: 5% Stable long-term profit for FOREX, CRYPTO, Equity based on backtesting optimization algorithm. Instant analysis of 3.2K technical strategies
NASDAQ:AMZNLong
by Trading_investing_2021
CRM Salesforce - Weekly Chart ConcernHello friends, today you can review the technical analysis idea on a 1W linear scale chart for Salesforce, Inc (CRM). The CRM price chart is self-explanatory. I posted about this stock in December 2021 and since that point, the price is down about 54%. It's not out of the water just yet as price has a possibility to head lower. There is a strong trend line where price may bounce from with historical support but that would mean price needs to come down another 29%. There is also a weekly Death Cross (50D and 200D SMA cross) that occurred recently, which may cause price to head lower. I have also included the Volume and RSI in this chart. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
NYSE:CRM
by MillionaireEconomics
LMT.NYS_Bullish Pullback Trade_LongENTRY: 480.62 SL: 445.54 TP: 494.93 - ADX>25 - Daily RS +ve - Daily FFI -ve - Weekly RS +ve - Weekly FFI +ve - Moving averages are aligned. - Breakout on 18 Oct 2022 from downtrend channel. - Looks ready to test ATH. Entry based on following: - Pivot Point: Pullback since 8 Nov 2022 peak to near pivot level (455.31) and reacted well with rebound. - TPB Daily VZ: Pullback from 11-16 Nov 2022 was within TPB Daily valuezone and breakout of it on 17 Nov 2022. - Stoch RSI: Crossing up 20.
NYSE:LMTLong
by TRADER-WANNA-BE
NYSE Index Bear Case.Good evening, This post is part of a series of requests i recently received. The request was: "What is your bearish projection on the US stonk market". --- Some may ask, what is the NYSE Index? 👇 The NYSE Composite is a stock market index covering all common stock listed on the New York Stock Exchange, including American depositary receipts, real estate investment trusts, tracking stocks, and foreign listings. --- My estimated top for the New York Stock Exchange Index sits at $15,546 ~ $18,545 High probability target = $16,600 --- My estimated bottom on this one is roughly between $12,293 ~ $10,064 High probability target = $11,319 --- 🔺
TVC:NYA
by notoriousbids