Overview
- Morgan Stanley reported record revenue of $18.2 billion and net income of $4.6 billion as investment‑banking revenue jumped 44% and executives said the pipeline is at all‑time highs, sending shares up sharply.
- Wells Fargo posted $5.6 billion in net income and $1.66 in EPS on resilient consumer activity and improved credit metrics, and the bank finalized its leadership transition with Charlie Scharf becoming chairman.
- JPMorgan delivered $14.4 billion in net income, $5.07 EPS, and $47.12 billion in revenue, beating estimates as Jamie Dimon highlighted economic resilience but flagged ongoing geopolitical and inflation risks.
- Bank of America earned $8.5 billion on revenue of $28.1 billion, highlighted by record net interest income of $15.2 billion, with the stock rising 4.7% after results.
- Analysts raised price targets across several large banks as management teams pointed to robust M&A and IPO pipelines into the fourth quarter and into 2026 under supportive market and regulatory conditions.