Breaking News: Investing

Goldman Sachs on Tuesday posted fourth-quarter results that topped analysts' expectations on better-than-expected asset and wealth management revenue.Here's what the company reported versus what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, expected:Earnings: $5.48 per share; it wasn't immediately clear if that was comparable to the $3.51 estimate of analysts surveyed by LSEG.Revenue: $11.32 billion vs. $10.8 billion expected, according to LSEGGoldman said earnings for the quarter jumped 51% to $2.01…

CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.Alex Wong | Getty ImagesCitigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank's results and stock price.About 20,000 employees will be let go over the "medium term," New York-based Citigroup said Friday in a slideshow tied to fourth-quarter earnings. While it wasn't immediately clear how long…

Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty ImagesCitigroup reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings: adjusted 84 cents a share, may not compare…

Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year.Here's what the bank reported ersus what Wall Street was expecting based on a survey of analysts by LSEG, formerly known as Refinitiv:·       Revenue: $20.48 billion vs. $20.30 billion expectedWells Fargo's stock fell 1% before the bell.Total revenue came in at $20.48 billion for the period. That's a 2% increase from the fourth quarter…

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings per share: $3.04, may not compare with expected $3.32…

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by the company's CFO just weeks ago.The bank said its fourth-quarter results, scheduled to be released Friday morning, were impacted by $880 million in currency conversion losses from the peso and $780 million in…

Tesla just published its fourth-quarter vehicle production and deliveries report for 2023. Here are the key numbers:Total deliveries Q4 2023: 484,507Total production Q4 2023: 494,989Total annual deliveries 2023: 1,808,581Total annual production 2023: 1,845,985In 2022, the Elon Musk-led automaker reported annual deliveries of 1.31 million and production of 1.37 million electric vehicles. The new numbers represent delivery growth of 38% year-over-year and production growth of 35% year-over-year. In 2022, the company…

A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016.Michael Nagle | Bloomberg | Getty ImagesCitigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank, CNBC has learned.The company decided to close its global distressed-debt group, according to people with direct knowledge of the move.Citigroup is exiting businesses with poor returns to bolster the bank's odds of…

Several Tesla electric vehicles are parked in front of a Tesla service center in the Kearny Mesa region, in San Diego, California, U.S., October 31, 2023. Abhirup Roy | ReutersMarko Sustic has bet big on Tesla this year.The investor, who also happens to work in the European auto industry, bought Tesla shares nearly every month in 2023 and has almost doubled the size of his position over the course of the year. Sustic has no other electric vehicle holdings out of a belief that competitors won't be able to beat Tesla's…

C.E.O. of Tesla, Chief Engineer of SpaceX and C.T.O. of X Elon Musk takes the stage during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesTesla is hiring a Nordic public policy expert as the U.S. electric vehicle giant's bitter dispute with labor unions across the region shows no sign of reaching a resolution.The company and members of Swedish trade union IF Metall have been embroiled in a standoff over Tesla's refusal to sign collective bargaining…