Stock Movers Citi and Bank of America Earnings; GM Trends Down; Boeing China Conerns
Apr 15, 2025
Bank of America sees a bump after reporting strong earnings, but faces potential economic shifts. General Motors takes a hit despite recent gains as President Trump hints at a pause in auto tariffs for adjustment. Meanwhile, Boeing struggles as China halts jet deliveries and tightens US equipment purchases, a move tied to the escalating trade war. Insights into how these factors are shaping the aviation and automotive sectors make for a compelling discussion.
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Bank of America's Record Quarter
- Bank of America reported a record quarter with strong net interest income and resilient consumer spending.
- CEO Brian Moynihan highlighted business clients' performance as a key driver of success.
Citigroup's Profitability Progress
- Citigroup is approaching its profitability target with a 9.1% return on tangible common equity this quarter.
- The wealth business saw record revenues, but equities trading lagged behind key rivals.
China Halts Boeing Deliveries
- China ordered airlines to stop accepting Boeing jet deliveries amid U.S.-China trade tensions.
- Boeing shares have declined about 10% this year as the trade war impacts aircraft sales and tariffs.