Here Are Thursday’s 4 Hottest Earnings Reports

It’s earnings season, and that means a torrent of information and surges in trading activity. To help make things easy, here’s a look at Thursday’s four hottest earnings and how they are moving stocks.

Citigroup (NYSE:C)

Shares of this financial services company were off as much as 3 percent in fairly heavy trading on Thursday morning. Citi reported fourth-quarter net income of $1.2 billion, or $0.38 per diluted share, a 25.5 percent increase year over year. However, it was the first bank to miss analyst estimates this season, falling short of expectations for income of $0.96 per share.

“Our bottom line earnings reflect an environment that remains challenging,” said CEO Michael Corbat. This was his first earnings announcement since taking the office in October… (Read more.)

Citigroup, Inc. Common Stock Stock Chart - C Interactive Chart - Yahoo! Finance

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Bank of America (NYSE:BAC)

Bank of America posted its first quarterly earnings since attaining what CEO Brian Moynihan calls a “fortress balance sheet.” But like Citigroup, the economic and business environment remains challenging. Shares were off as much as 3.5 percent after the bank reported that net income fell 65 percent to just $0.03 per diluted share.

This drop wasn’t entirely unexpected — analysts were looking for net income of just $0.02 per share — but the bank’s earnings revealed just how hard the new regulatory environment and billions in fees have hit the company… (Read more.)

Bank of America Corporation Com Stock Chart - BAC Interactive Chart - Yahoo! Finance

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BlackRock, Inc. (NYSE:BLK)

Breaking today’s financial trend, shares of this investment manager were trading as much as 4.7 percent higher after reporting its quarterly earnings. Net income grew 24.3 percent to $3.93 per diluted share, beating expectations of $3.73 per share.

The strong quarter comes after CEO Larry Fink quashed rumors that he might be running for Secretary of the Treasury… (Read more.)

BlackRock, Inc. Common Stock Stock Chart - BLK Interactive Chart - Yahoo! Finance

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BB&T Corp. (NYSE:BBT)

Shares of BB&T also traded up on Thursday after the financial holding company reported a 29.4 percent year-over-year increase in net income to $0.71 per share, beating expectations by a penny. Revenue did drop about 6.75 percent to $2.53 billion for the period, but still came in ahead of expectations for $2.46 billion.

BB&T Corporation Common Stock Stock Chart - BBT Interactive Chart - Yahoo! Finance

Investing Insights: Bank of America Earnings: Moving in the Right Direction?