Jan 17, 2013|
What's Up On Wall Street - Seema Mody, CNBC
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Good morning and welcome to the financial -- very are strong in June night with you we're joined now by. -- Modi from CNBC seem a good morning welcome to the show. See you very good morning -- Good PC and I was watching CNBC this morning and I believe who's in the 7 o'clock hour or so -- -- Goldman Sachs earnings announcement. Wow that was a blow out number. Definitely a blunt ordered Google went back basically Lloyd Blankfein CEO is being that while the economic conditions remain challenging for months of last year. That rent of their business model in -- and -- couple -- at Bogut on disciplined management and basically help the company delivered solid performance. Also cost cutting out of banks' margins and that it. Overall black -- order from moment I think not right now trade at eighteen month high revenue and earnings both beating beaten and. -- and are they restricted on their dividend payout are they one of the banks it's not allowed to race their dividend by the Treasury Department. I I believe it or not but I don't expect on that and get back you. Okay. Let me ask. What about the other banks Morgan Stanley Smith -- Citibank Bank of America. Yeah -- they -- the big bad banks as the AC JPMorgan Chase. How are they all going to have seen because those earnings announcements are many of them are coming out this weekend and certainly by next week. Definitely a big week and and time for banks are now we did not JPMorgan Chase -- in better than expected -- earnings this morning up about it easily bring that. It is really talking about -- big market that didn't think you know Jamie -- compensation in half eleven. And a half million dollar only that investigation in the bank in nineteen billion dollar blend in Whalen leading -- -- -- diamond calling betrayed. You know once you get -- in eight. Adding that you respect -- or did somebody point out they America -- good. Reporting tomorrow from the bait in a massive settlement -- any me analyst at basically last profit estimate. You're just -- and -- stared that there could be a bright spot or the company including. It rare rise in net interest margin of about our analysts are watching European -- and last Leann -- and it will be looking where it nearly. They did EO did talk about that match aren't back yet pity about the thirteenth about that. And I'll be focusing on port eighty. It seems like certainly be they'd be settled a lot of their bad litigation they're nasty stuff. At the end of last year I think they -- like what ten billion dollars worth that a great -- Yeah I mean I think the market all of it play. Indian never like unfair and -- at the market wants badly and when you do get Agassi these -- the higher. Okay is it too late -- the financial stocks had a pretty good year in 2012. Is it too late to buy them in 2013 what are you hearing from the the financial and a. Greg amid the canyon on Wall Street banks not -- you know in financial very closely -- economy when we have. Good improving unemployment number at any lower recovery and how the inspector. All he's not good -- definitely helped bank stock outperformed the -- in the improvement in the US economy and thank god couldn't continue to move higher as you point out -- at the B financial bank and went from being a brick apartment back in 2011. The best of accurate and it doesn't well. All right well you know what it will be it'll be interesting to see how they perform. If they can't start paying the bad banks can't increase their dividend to fourteen is that correct like he even if DNA. Has some miraculous turnaround we're not gonna see of much of a dividend out of them this year. But the stated expecting yet -- what could very well thank you very much -- appreciate it thank you don't. Seem -- Modi CNBC giving it to us. Live and from the front down in New York City and the we announced that we're going to kind of mix up our. Contest and we have four tickets to watch use it the ski mountain out in. It's really near -- and will be giving those away during this hour of the program David do you have the sound effect that our listeners and it's -- to listen for. And you'll hear this you're here now to -- you know what we're gonna play. In and then later in the show calling now -- colonies they were saying. Okay that's a sound effect day. Think we can -- a little bit of advocates say this one is my opinion. June would they do when they hear that sound. We'll get a call 888205. 2263. He's going to be 25 caller. And you've got to know -- passport which is Deval Patrick you know why that's the answered because he's raising taxes he is and I'm telling yet. I I I've got sneaky feeling. That this is going to happen I think. -- Deval Patrick. Is going to raise our income tax rate from 525 to five point 66. Did you do it quietly during the next ninety days the because none of these guys have to run for election this year you know and I think he's gonna do it. If and when the patriots had to -- purple yeah. He would do that we are very long -- Super Bowl Sunday Brady if if they win this Sunday he'll do the whole thing during the two weeks after that before the Super Bowl in in there will be so caught up nobody has -- it was paying attention or paychecks and you'll get yet your second government to pay cut of the year is -- is an -- 68680. Is our text number like to know what your opinion is that it'll play hey I gotta -- on. Quite disenfranchised. An -- almost becoming despondent because I think it's gonna happen I I think we're gonna get a good present from happening any -- -- I would like to think that -- we could pretend I I would like to think June that you and I could prevent this from happening at the money you just go on into the kitchen get a whole. Pocket of Lipton Tea bags and head on down -- -- station and -- start my Tea Party jumping into the harbor are. -- I. If you own FaceBook stock or view Google's stock. You gonna wanna pay attention to this interview it's basically comparing the technologies FaceBook is going after Google we'll talk about that with David in the exit.