Financial Earnings Winners & Losers (BLK, JPM, NITE, MER, WFC)

By Douglas A. McIntyre Updated Mar 26, 11:45AM EDT · Published Apr 16, 7:52AM EDT

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BlackRock, Inc. (NYSE: BLK) posted a 25% gain in earnings, but reported $1.90 EPS versus $2.00 estimates; Assets under management are now $1.364 Trillion. Shares are trading down by 2% pre-market.

JPMorgan Chase (NYSE: JPM) $0.69 EPS vs. $0.64 est.; $2.6 Billion markdowns; expect weakness to continue and expects capital market stress to continue; sees issues affecting results for remainder of 2008 or longer; shares are trading up over 2% in pre-market.

Knight Capital Group, Inc. (NASDAQ: NITE) $0.35 EPS vs. $0.30 estimates; trading volume surged in dollar terms and decreased in volume for march, noted de-leveraging of financial markets; stock trading up over 6% pre-market.

Merrill Lynch (NYSE: MER) is taking another $6.8 Billion in write-offs according to WSJ, although shares are up almost 1% pre-market.

Wells Fargo (NYSE: WFC) posted an 11% decrease in earnings but earnings were $0.60 EPS vs $0.57 est; setting aside $2.03 billion to cover delinquencies and defaults among mortgages and other loans; non-performing assets up 16% to $4.5 billion as of March 31, up from $3.87 billion at December 31, 2007; Shares are trading up over 7% in pre-market trading.

Jon C. Ogg
April 16, 2008

Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at [email protected] and he does not own securities in the companies he covers.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.