US Banks Post Mixed Earnings Results

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Scarlet Fu  and Alexis Christoforous-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings.Goldman Sachs Group Inc.'s equities traders reported revenue of $6.44 billion for the three months through September, beating the expectations of analysts.JPMorgan Chase & Co. reported a surprise drop in fixed-income trading revenue in the third quarter, the first such decline in more than two years.Citigroup Inc.'s fixed-income traders had their best third quarter in at least a decade, with revenue of $4.4 billion.Wells Fargo & Co. reported third-quarter results that topped Wall Street estimates as consumers and businesses held steady, keeping loan losses in check.-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses earnings from Domino’s Pizza and his outlook for Jersey Mike’s. Domino’s Pizza Inc.’s US same-store sales grew 0.3% in the third quarter, below the 0.7% Wall Street had expected. The company faces an uphill battle as budget-conscious consumers eat out less and favor chicken amid the “proteinmaxxing” trend.Also, according to Bloomberg Intelligence: Jersey Mike's combination of strong sales growth, 10.4% in 1H, and a 99% franchised system is unique to the restaurant sector, positioning the company to outperform most quick-service peers on the top line and most fast-casual competitors on the bottom line amid inflation.-Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses LVMH earnings. Sales at LVMH's biggest division slumped as worsening economic conditions and a consumer backlash in China hit its key Louis Vuitton brand. Revenue at the fashion and leather goods unit slid 5% in the third quarter on an organic basis, a bigger decline than analysts had forecast. LVMH Chief Financial Officer Cecile Cabanis said the backlash from consumers over the Molly Tea case "had a negative impact, at least at the beginning of the quarter" on Louis Vuitton sales.-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest at Netflix. Netflix Inc. secured exclusive broadcasting rights in Spain and Andorra for the men’s FIFA World Cup in 2030. Terms of the deal that includes all 104 matches weren’t’ disclosed in the company’s press release. Also, according to Bloomberg Intelligence: Netflix's 3Q results may do little to quiet the engagement debate even if revenue lands near guidance. See omnystudio.com/listener for privacy information.