Survival of the fittest? Big banks report mixed earnings results — what to watch now $XLF $JPM $WFC (via TradingNation)
Aperture Investors Chairman and CEO Peter Kraus wondered if one of JPMorgan's main catalysts this quarter could last:
"Wells Fargo's a long-term ... turnaround story. We'll have to see how the management team can now go from reconstructing and really not having any expectation on what they do this year to what they build towards in earnings power as we go into next year. Cutting the dividend to where it is gives them a little bit of wiggle room, so, this provides a base [and] gets their yield down to about where the market is.
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