Motley Fool Money Big Banks, Big Opportunities, and What Did The Fed Chief Say?
Jan 14, 2022
Malcolm Ethridge, a Certified Financial Planner and host of the Tech Money Podcast, joins to discuss the latest earnings from major banks like JPMorgan Chase and Citi. He breaks down Fed Chair Jay Powell's recent comments on inflation and what that means for investors. The conversation pivots to exciting opportunities in the tech sector, with insights into Nvidia and Adyen. Ethridge also previews the upcoming season of his podcast while keeping an eye on real estate and healthcare investments.
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Bank Performance and Outlook
- 2022 is predicted to be a better year for banks, though 2021 wasn't bad, with JPMorgan Chase returning 28% and Wells Fargo 61%.
- JPMorgan lowered guidance for 2022 due to inflation and labor costs, while Wells Fargo continues to improve.
Take-Two Acquires Zynga
- Take-Two Interactive acquires Zynga for $12.7B, expanding in mobile gaming.
- Zynga, post-IPO, struggled due to dependence on Facebook, never regaining peak value.
Elastic Leadership Change
- Elastic CEO, Shea Bannon, steps down to CTO; Ashkel Carney becomes CEO.
- Despite market drop, this move positions Bannon in his area of passion and Carney as operator.