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MS

XLF

Morgan Stanley (NYSE:MS) reported Q4 earnings with a net profit of $1.5 billion, down from $2.2 billion Y/Y, but surpassed revenue estimates with $12.9 billion against a consensus of $12.75 billion. The Wealth Management division's revenue was flat Y/Y, while Investment Banking revenue grew by 5.3%. Fixed Income revenues slightly increased. The decline in net income was attributed to higher costs in Wealth Management and a $249 million regulatory settlement. The company declared an 85 cent quarterly dividend, and shares were down 3% at last check. James Gorman ended his tenure as CEO, with Ted Pick succeeding him. In comparison, the SPDR Select Sector Fund – Financial (NYSE:XLF) gained 4.8% last year, while MS shares lost 7.6%.

Portfolio Pulse from Anusuya Lahiri

January 16, 2024 | 2:58 pm

PNC

PNC Financial Services Group Inc (NYSE:PNC) reported a 7% Y/Y revenue decline in Q4 FY23 to $5.36 billion, slightly beating consensus estimates. Net interest income dropped 8% Y/Y, and noninterest income fell 6% Y/Y, primarily due to lower trading revenue. Average loans increased 1% Y/Y, while average deposits decreased 3% Y/Y. The company's provision for credit losses was $232 million, down from $408 million a year ago. Adjusted EPS was $3.16, above the consensus of $2.94. PNC declared a quarterly dividend of $1.55 per share and returned $0.7 billion to shareholders through dividends and share repurchases. For FY24, PNC expects revenue to be stable to 2%, with net interest income declining 4%-5% Y/Y. PNC shares fell 2.32% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 2:58 pm

GS

During a conference call, the CEO of Goldman Sachs expressed optimism about the current state of capital markets activity. He indicated that while the markets are not expected to return to 10-year averages immediately, there has been a material improvement.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:57 pm

ELAB

INMB

ELEVAI Labs' stock price has increased following the announcement of an exclusive, worldwide manufacturing and processing technology licensing agreement with INmune Bio.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:54 pm

GOLD

Barrick Gold Corp (NYSE:GOLD) shares fell after reporting Q4 2023 preliminary results with copper production at the lower end of guidance and gold production below guidance. Q4 saw the highest gold production of the year, but costs are expected to rise. Full results will be announced on Feb. 14. GOLD shares dropped 1.98% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 2:54 pm

DWAC

Shares of Digital World Acquisition Corp (DWAC) are trading higher following Donald Trump's victory in the Iowa GOP caucus. DWAC is set to merge with Trump Media & Technology Group, which is likely influencing the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:52 pm

GS

During a conference call, the CEO of Goldman Sachs expressed confidence in the firm's platform, indicating a stronger position for the company in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:50 pm

SEVN

Seven Hills Realty Trust (NASDAQ:SEVN) announced a quarterly dividend of 35 cents per share, with Thursday being the last day for investors to be eligible for the dividend. The stock will go ex-dividend on Friday, likely opening 35 cents lower. Eligible shareholders as of Thursday's close will receive the dividend on February 15, 2024.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 2:46 pm

DHC

Diversified Healthcare (NASDAQ:DHC) announced that shareholders as of Thursday's session will be eligible for a quarterly dividend of 1 cent per share, with the ex-dividend date being Friday. The stock is expected to open 1 cent lower on Friday to reflect the dividend payout. The dividend is scheduled to be paid on February 15, 2024.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 2:45 pm

SVC

Service Properties Trust (NASDAQ:SVC) announced a quarterly dividend of 20 cents per share, with the ex-dividend date set for Friday. Shareholders owning SVC stock by the end of Thursday are eligible for the payout, which will be distributed on February 15, 2024. The stock is expected to open 20 cents lower on the ex-dividend date to reflect the payout.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 2:45 pm