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Wells Fargo on Friday reported third-quarter earnings that exceeded Wall Street expectations, causing its shares to rise.Here's what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Adjusted earnings per share: $1.52 vs. $1.28 expectedRevenue: $20.37 billion versus $20.42 billion expectedShares of the bank rose more than 4% in morning trading after the results. The better-than-expected earnings came even with a sizeable decline in net interest income, a key measure of what a bank makes on lending.The San Francisco-based lender posted $11.69 billion in net interest income, marking an 11% decrease from the same quarter last year and less than the FactSet estimate of $11.9 billion. Wells said the decline was due to higher funding costs amid...

JPMorgan Chase CEO and Chairman Jamie Dimon speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.Evelyn Hockstein | ReutersJPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia's invasion of Ukraine showing no signs of abating."We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon said Friday in the bank's third-quarter earnings release."There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the...

About 165 million Americans rely on employer-sponsored health insurance, and yet workers may still not get the coverage they want — particularly when it comes to drugs such as Novo Nordisk's weight-loss drug Wegovy and diabetes drug Ozempic.About 1 in 3 employees are looking for more resources to combat obesity, according to a recent report by consulting firm Gallagher. Glucagon-like peptide-1 treatments such as Wegovy and Ozempic, which mimic hormones produced in the gut to suppress a person's appetite, are considered game changers on this front.These blockbuster weight-loss drugs have skyrocketed in popularity in the U.S. but are still not universally covered — even though "Americans have higher rates of obesity and diabetes and more behavioral health conditions today than ever before," ...

Netflix is less than a week away from issuing its third-quarter results, and some analysts think the stock is poised for more upside ahead. The streaming giant's quarterly report is due next Thursday after the market close. The stock is having a strong 2024, surging nearly 50%. "We believe Netflix is the main beneficiary of industry rationalization and expect strong 3Q results," UBS analyst John Hodulik wrote in a Wednesday note to clients, adding that subscriber growth is anticipated to ease year over year but "remain solid." With a buy rating on the stock, Hodulik's target of $750 implies more than 2% upside from Thursday's close. "We expect 4Q commentary to suggest strong sub performance (last qtr net adds will be disclosed), helped by Squid Game 2 and two NFL games (UBSe 7.1M adds vs. ...

Horst Jicha discussing cryptocurrency.Source: Team Business Global | YouTubeA German national who was under home detention in New York City on a $5 million bond guaranteed by his domestic partner and children in a case in which he was charged with overseeing a $150 million cryptocurrency fraud is now a fugitive."There's a very active investigation underway to capture him," said John Marzulli, a spokesman for the Brooklyn U.S. attorney's office, on Friday, a day after the defendant, Horst Jicha, failed to appear in Brooklyn federal court as scheduled."We are going to forfeit the bond," Marzulli added, meaning that prosecutors will seek to obtain the $4 million portion of the bond that was personally guaranteed by Jicha's partner, children and three other people, all of whom live in Germany....