Q4 Financial News

Andrew Shepherd (pictured), CEO of Brooks Macdonald

Steven Levin (pictured), CEO of Quilter

Michael Summersgill (pictured) is CEO of AJ Bell.

Investing.com-- China’s economy grew slightly less than expected in the fourth quarter amid consistent pressure from weak spending and a property market decline, although growth for 2023 managed to just edge past government targets.

Investing.com — Goldman Sachs (NYSE:GS) reported its Q4/23 results today, with EPS of $5.48 coming in better than the consensus estimate of $3.80. Following the results, Goldman Sachs’ shares rose more than 1% pre-market today.

Prateek Aggarwal, CFO and Ramachandran Sundararajan, Chief People Officer, HCL Tech, in conversation with ET Now. Prateek Aggarwal says: We continue to have a good margin story for the full year. September quarter was a great one and so was December. We look forward to close the year at a good clip. Ramachandran Sundararajan says: “We will continue the hiring trend for Q4 to support the growthwe have projected for Q4. Our lateral hiring will continue for Q4. In the case of fresher hiring, we continue to honour our commitments for on-boarding. We will see a fresher on-boarding happening in Q4 as well. So net-net, we expect Q4 to be a net addition to our headcount. But it is early to talk about FY25.” The company recorded a strong 32% growth in the P&P business. Want to understand that, was there any one-off or this was bunching up which actually fuelled the growth? Prateek Aggarwal: No, no one-off. Actually, that is the inherent seasonality that we have in the software business. It all depends on which customers and how many of them we are in touch with during that quarter. This business has 7,000-8,000 customers. So the seasonality is dependent on the number of customers that have their renewals coming up in this quarter.

Earnings season is set to kick off with results from some of America's biggest banks, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Citigroup (NYSE:C) — due tomorrow before the market opens.

SAN FRANCISCO — Wells Fargo & Co. announced that its fourth-quarter net income rose to $3.45 billion, marking an increase from the previous year's $3.16 billion. The bank, headquartered in San Francisco, also reported an adjusted earnings per share (EPS) of $1.29, surpassing EPS estimates. Despite the positive earnings report, the company's stock experienced a downturn, falling by 3.3% following the earnings announcement.

Discord announces workforce reduction of 17%, will layoff 170 employees During the last week of January, Citi is likely to announce more organisational changes. "Efforts to simplify its structure will be largely completed this quarter, saving $1 billion and eliminating about 5,000 mostly managerial roles," CEO Jane Fraser said. The job cuts could cost as much as $1.8 billion, Citigroup said but will save $2.5 billion a year by 2026.

Investing.com — JPMorgan Chase (NYSE:JPM) reported a remarkable Q4 earnings performance today, surpassing Wall Street expectations. The company's stock price saw a gain of more than 2% in pre-market trading following the announcement.

insurance fund and carry out a sweeping internal reorganization. The loss was also fueled by the bank stockpiling money to cover currency risks in Argentina and Russia. The third-largest U.S. lender by assets posted a loss of $1.16 per share for the three months ended Dec.

Bank of America (BAC) reported fourth-quarter revenue figures that trailed analyst estimates, causing shares to fall more than 4% in the premarket.

Investing.com — BlackRock (NYSE:BLK) has agreed to purchase Global Infrastructure Partners in a $12.5 billion cash-and-stock deal that will create a multi-asset class investing giant.

Investing.com — U.S. stock futures edged higher Thursday, adding to the previous session’s gains ahead of the release of key U.S. inflation numbers for December, which could play into how the Federal Reserve approaches potential interest rate reductions this year. 

Investing.com-- Samsung Electronics (KS:005930) said on Tuesday that its fourth-quarter operating profit likely fell by about 35%, as a sluggish recovery in demand for the firm’s key memory and smartphone chips dented revenue.

Quiver Quantitative — Large-Cap Insider Activity in Q4:

S&P 500 (SPX) lost 1.5% in the first trading week of 2024, this way ending the streak of nine consecutive weekly gains since late October. The rally ended near the 4800 with the bulls failing to post a new record high. Still, the SPX is just 2.1% away from its previous all-time high recorded on Jan. 3, 2022.

(Reuters) -Regeneron Pharmaceuticals on Monday reported eye drug Eylea's fourth-quarter preliminary U.S. sales below Wall Street expectations, as the company's blockbuster product faced pressure from a rival.

According to analysts at Bank of America, small-cap stocks stocks are still historically cheap despite the rally during the fourth quarter.

This month’s official report of US fourth-quarter economic activity, scheduled for release on Jan. 25, will likely confirm that output expanded at a moderate pace, according to a set of nowcasts compiled by CapitalSpectator.com.

Apple (NASDAQ:AAPL) shares are facing their fifth consecutive session of declines, marking a challenging start to 2024.