Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Friday morning witnessed several exciting earnings calls. So, let’s look into the results, and how they compared to expectations.
Wells Fargo & Co (NYSE: WFC)’s was probably the most anticipated report of the day. The mega cap financial services and bank holding company delivered earnings of $1.03 per share, beating the Street’s consensus estimate by one cent. However, revenue of $21.586 billion fell slightly short of expectations, which called for a top line of $21.695 billion.
Another huge bank reporting its quarterly financial results on Friday morning was Citigroup Inc (NYSE: C). Earnings of $1.06 per share and revenue of $18.637 billion came in well above estimates of $1.04 per share and $17.8 billion. However, analysts are questioning the results, as a substantial number of one-time items prevented investors from getting a clear picture of what is really going on. Some analysts even argued that, “if you strip out gains on the sale of unwanted assets, Citi missed expectations by some distance” (CNBC).
Next up is BlackRock, Inc. (NYSE: BLK), which retrieved earnings of $4.75 per share, well below the Street’s consensus of $4.82 per share, on revenue $2.863 billion, marginally above expectations.
Fastenal Company (NASDAQ: FAST)’s results were also quite disappointing. Earnings of $0.39 per share came in one cent below consensus, while sales of $922.79 million fell almost $1 million short of expectations.
Back to financial companies, there’s U.S. Bancorp (NYSE: USB), which delivered a small top and bottom line beat. EPS of $0.80 surpassed analysts’ consensus by 1 cent, while revenue of $5.211 billion were over $100 million higher than anticipated.
Finally, there’s PNC Financial Services Group Inc (NYSE: PNC), which reported earnings of $1.87 per share on revenue of $3.853 billion, well above the Street’s consensus of $1.80 per share and $3.793 billion.
Interestingly, all of the stocks in this article tumbled on Friday trading.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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