JPMorgan Chase beat Wall Street estimates for profit in the second quarter as trading revenue surged, while setting aside $10.5 billion to defaults.
Wells Fargo & Co swung to a second-quarter loss as the coronavirus set back the bank’s progress in recovering after a series of misselling scandals.
Citi beat analysts’ 2nd quarter estimates as its trading desks cashed in on volatility, allowing it to set aside $5.6 billion for possible defaults.
Dozens of planning and advisory firms soaked up millions in emergency federal aid. No shame there. The hard part is figuring out how to move forward.