All three major U.S. indices were solidly in the green Wednesday. The Dow Jones Industrial Average was up more than 200 points.
Goldman and Bank of America Earnings
Goldman Sachs Group Inc. (GS) put earnings estimates to shame Wednesday morning, and reported a net interest income increase of 10% year-over-year for the quarter, and 28% year-over-year for the full year. This comes even with higher interest rates, which hurts loan demand.
Goldman Sachs, RealMoney's stock of the day, has a not-so-bad 2019 outlook, as M&A activity looks to be an area of strength for the investment banking giant.
Bank of America Corp. (BAC) also beat earnings estimates, reporting a 7.3% increase year-over-year in net interest income for the quarter. The same metric rose more than 5% for the full year of 2018.
Netflix Inc. (NFLX) reports earnings Thursday, Jan. 17, after the closing bell. The movie streaming giant just raised prices on several of its subscription plans, which helped the stock rally Wednesday. Watch for forward-looking subscription guidance as a result of the price increases.
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Goldman Sachs is a holding in Jim Cramer's Action Alerts PLUS member club. Members of Cramer's Action Alerts Plus club can watch Cramer's exclusive call on Thursday, Nov. 17.