Bradley Keoun covers markets and finance for TheStreet.
A former reporter and editor for Bloomberg News in New York and Mexico City, he covered the financial crisis of 2008 and has written about U.S. banks, the energy industry and emerging markets.
Keoun, who previously worked for the Gainesville (Fla.) Sun and Chicago Tribune, has a master's in journalism from the University of Florida and a bachelor's in electrical engineering from Duke University. You can reach him at firstname.lastname@example.org and follow him on Twitter @liqquidity.
The private-equity firm says the conversion will allow investors to buy its shares without creating the need for a Schedule K-1, an Internal Revenue Service tax form that's used to report earnings from partnerships.
Citigroup produced the best trading results during the first quarter, with the least-bad performance during a period marred by lackluster client activity, the prolonged U.S. government shutdown and nagging uncertainties about the trajectory of the global economy. The 2018 leader, Goldman Sachs, slipped to last place.
Morgan Stanley says first-quarter profit falls 9% from a year earlier as revenue tumbles in the New York-based investment bank's trading business. But the results still exceed the expectations of Wall Street analysts.
BlackRock continues to steal market share from mutual-fund competitors with its suite of exchange-traded funds. Analysts say investors' increasing preference for ETFs shows no sign of abating. But because of the low fees charged by ETFs, profit margins are shrinking.
Bank of America says that lending income would grow just 3% this year, down from about 6% in 2018, as the economy slows and the Federal Reserve halts its three-year campaign to boost official U.S. interest rates.
Bank of America's first-quarter revenue didn't grow from a year earlier, but the bank led by CEO Brian Moynihan cut costs by 4%, helping to push earnings per share to 70 cents. That level beat analysts' average estimate of 66 cents.
BlackRock continues to devour mutual-fund competitors with its suite of popular exchange-traded funds, but profit fell 3% in the first quarter due to the market swoon in late 2018, reducing average asset levels and thus lowering the base for calculating fees.
Citigroup posts better-than-expected results for the first quarter as a cut in the U.S. bank's effective corporate tax rate helps to offset a fall in stock-trading revenue.
Citigroup CEO Michael Corbat says he has no immediate plans to name a new president to replace Jamie Forese, who is retiring.
Goldman Sachs, the Wall Street firm, says first-quarter profit falls less than expected. But the stock declines after analysts say the outperformance was driven by accounting decisions that might not be repeated in future quarters, including a low tax rate and less-than-estimated compensation expenses.
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