JPMorgan Chase (JPM), the first of America’s mega-banks to post first-quarter results, beat expectations on earnings and revenue, posting earnings of $1.31 a share against analyst estimates of $1.165. Shares were down 0.5% in pre-market trade.
Wells Fargo (WFC) also beat expectations, reporting earnings of $0.75 per share on $21.6 billion in revenue. Analysts predicted that the bank would post earnings of $0.734 per share. Shares were down 1.1% ahead of the opening bell.
The Chinese economy grew at an annual pace of 8.1% in the first quarter, the country’s National Bureau of Statistics said toay, marking a deceleration from an 8.9% growth rate in the prior quarter.
European stocks were mixed in afternoon trading while Asian markets ended higher.
Coinstar (CSTR) shares were up 13% this morning after the company noted “stronger than anticipated consumer demand at Redbox” on Thursday and raised its earnings outlook for the year. Who doesn’t like Redbox? They were and are a great idea.
The national average price for gasoline is again down today, off 6-tenths of a cent to $3.901 per gallon. Yeah!
0830 ET Mar CPI expected +0.3% m/m and +2.7% y/y, Feb +0.4% m/m and +2.9% y/y. Mar CPI ex food & energy expected +0.2% m/m and +2.2% y/y, Feb +0.1% m/m and +2.2% y/y.
0955 ET Preliminary Apr U.S. University of Michigan consumer confidence expected unchanged at 76.2, Mar +0.9 to 76.2.