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DAILY EARNINGS

Wells Fargo Net Climbs, JPMorgan Net Drops


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM ET January 14 2014

10:45 AM New York Commerce Bancshares fourth-quarter net fell 1.3% to $65.9 million. JPMorgan fourth-quarter net dropped 7% to $5.3 billion. Shaw Communications first-quarter net increased 4% to $245 million. Wells Fargo fourth-quarter net climbed 10% to $5.6 billion.

Earnings Review

Commerce Bancshares, Inc (CBSH), the bank said net interest income in the fourth-quarter ending in December slumped 4% to $154.9 million.

Net income in the quarter fell 1.3% to $65.9 million or 71 cents per diluted share compared to $66.8 million or 69 cents.

JPMorgan Chase & Co (JPM), the financial service provider reported net revenue in the fourth-quarter ending in December fell 2% to $23.2 billion.

Net income in the quarter dropped 7% to $5.28 billion or $1.30 per diluted share compared to $5.69 billion or $1.39.

GameStop Corporation (GME), the video game retailer said total global sales for the nine-week holiday period ended January 4, climbed 9.3% to $3.15 billion and comparable store sales soared 10.2%. U.S. comparable sales jumped 7.1% and international comparable sales surged 17.4%.

GameStop expects same store sales for the fourth-quarter to be at the high end of the current guidance range and fourth quarter earnings per share in the range of $1.85 to $1.95 and full-year earnings per share between $2.96 and $3.06.

Shaw Communications Inc (SJR), the diversified Canadian communications company said revenue in the first-quarter ending in November grew 3.3% to $1.36 billion.

Net income in the quarter increased 4.3% to $245 million or 51 cents per diluted share compared to $235 million or 49 cents.

The company said revenue in the cable division for the quarter jumped 4% to $844 million and satellite revenue rose 1.9% $218 million and media revenue increased 1.9% to $325 million in the same period last year.

Wells Fargo & Co (WFC), the brokerage company reported revenue in the fourth-quarter ending in December declined 6% to $20.7 billion.

Net income in the quarter climbed 10.2% to $5.61 billion or $1 per diluted share compared to $5.09 billion or 98 cents.

The company added loan and deposit growth for the quarter jumped to $825.8 billion and core loan portfolio increased to $39.9 billion.

Total core checking and savings deposits increased to $50.7 billion.

Non-performing assets dropped to $4.9 billion and net charge-offs declined to $963 million from $1.1 billion in the same quarter a year ago.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc