Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Neil Sipes, Bloomberg Intelligence U.S Financials Analyst, discusses earnings from Morgan Stanley and BlackRock.

Morgan Stanley's stock traders set another quarterly record, with $6.3 billion from equity trading, a 69% jump from its previous all-time high. The firm pulled in $148.1 billion in net new assets in its wealth-management business, with over half related to IPOs, and net revenue at the wealth business was $8.86 billion.

BlackRock Inc.'s revenue jumped and the firm's assets hit a record $15.3 trillion, with the company taking in $192 billion across its business in the second quarter.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings.

JPMorgan Chase & Co. reported its highest quarterly profit ever, with a long-held Visa Inc. stake paying off to the tune of $4.6 billion.

Goldman Sachs Group Inc. posted $7.42 billion for a quarter with record results in its equities unit, driven by financing and taking profit in arranging bets.

Bank of America Corp.'s stock traders notched a record during the second quarter, benefiting from market volatility, while its investment bankers capitalized on a dealmaking resurgence.

Wells Fargo & Co. reported second-quarter earnings that beat Wall Street estimates on higher fees from wealth management and investment banking.

Citigroup Inc.'s key business lines surpassed Wall Street's expectations, although the bank's record haul in stock trading fell short of the growth posted by rivals.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. An AI-fueled stock rout in South Korea spilled over into the US market Monday, as SK Hynix Inc. American depositary shares fell as much as 9.3%. Taiwan Semiconductor Manufacturing Co. reported a 36% jump in quarterly sales, meeting elevated expectations while signaling global demand for AI computing remains intact.

-Tamlin Bason, Bloomberg Tech Litigation Analyst, discusses Apple filing a lawsuit against OpenAI, alleging that the company systematically stole its intellectual property by asking former Apple employees to bring information about unreleased products. Apple is seeking monetary damages and an order requiring OpenAI to halt the alleged conduct and destroy any proprietary materials, which could disrupt OpenAI's device ambitions and slow its recruiting pipeline.

-Ryan Fisher, Bloomberg BNEF EV Charging Team Leader, discusses how electric-vehicle charging companies are adjusting their merger and acquisition strategies as they strive for scale and profitability across Europe. The industry is still rife with competition, but cash-strapped companies are selling to survive, and some networks, such as Instavolt, are getting rid of assets in periphery markets while doubling down on their core ones.

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Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom.
On this episode:
Bloomberg's Katie Greifeld, David Gura, and Mandeep Singh join Scarlet Fu and Tom Keene on "Bloomberg Money." The discuss the US trading debut of SK Hynix, the rollout of Trump accounts, and the escalation seen this week in the US-Iran conflict.
Randy Kroszner, University of Chicago Booth School professor of economics and former Fed Governor, joins Scarlet Fu and Tom Keene on "Bloomberg Money."
Bloomberg's Nikki Waller joins Scarlet Fu and Tom Keene on "Bloomberg Money." Belle Burden’s blockbuster memoir, 'Strangers,' has riveted readers with the tale of her marriage’s sudden implosion and aftermath. They also discuss the rising popularity of prenups has been driven by changing financial dynamics of marriage.
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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Anthony Hughes, Bloomberg US Equity Capital Markets Reporter, discusses SK Hynix’s U.S listing. SK Hynix Inc.'s American depositary receipts surged above their offering price after the company raised $26.5 billion in the largest-ever US listing by a foreign company. The ADRs are trading at a premium over the closing price of the Seoul-listed common stock due to restrictions on exchanging the South Korean stock for the US instruments.

- George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses earnings from Delta Airlines. Delta Air Lines Inc. reaffirmed its full-year profit guidance, citing strong demand for premium, corporate and international travel. The airline's revenue rose 14% from a year earlier, with capacity increasing just 1%, and it earned an adjusted $1.56 a share in the second quarter.

-Beth Kowitt, Bloomberg Opinion Columnist, discusses her column: “Meta Ushers In the Era of the K-Shaped Company.” A new class divide is emerging in Big Tech, between those at the top of the artificial intelligence hierarchy and everyone else, with the former receiving high salaries and resources and the latter being viewed as disposable.

-Kevin Near, Bloomberg Intelligence Senior Equity Research Analyst, discusses how a fuller release slate is helping push domestic box office toward $10 billion this year or next. According to Bloomberg Intelligence: longer exclusive theatrical windows are broadening big-screen demand for AMC, Cinemark and other leading North American exhibitors.

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