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Market Data Table

Breakfast News: Trading Revenue Lifts JPMorgan

January 13, 2026

Monday's Markets
S&P 500 6,977 (+0.16%)
Nasdaq 23,734 (+0.26%)
Dow 49,590 (+0.17%)
Bitcoin $91,377 (+0.90%)

Chart showing JPMorgan Chase's quarterly revenue over the past three years, starting at about $55 billion in the first quarter of 2023 and rising to about $71.9 billion in the third quarter of 2025.

1) JPM, DAL, BK Kick Off Earnings Season

JPMorgan Chase (NYSE:JPM) nudged up 1% before the opening bell due to quarterly results beating expectations, with the trading division outperforming. Profit fell by 7%, mostly due to the $2.2 billion reserve linked to the Apple (NASDAQ:AAPL) Card takeover from Goldman Sachs (NYSE:GS). CEO Jamie Dimon noted, "The U.S. economy has remained resilient."

"Our consumer ... [is] investing and prioritizing spending on travel": Delta Air Lines (NYSE:DAL) stock fell by over 4% ahead of the market open, after results showed a 7% fall in main cabin ticket revenue, although CEO Ed Bastian struck an upbeat tone, as the business projects a double-digit percentage increase in earnings for the coming year.
Bespoke AI-enterprise platform Eliza creating stickier clients: The Bank of New York Mellon (NYSE:BK) dropped 0.5% in pre-market trading following a mixed bag of results, with fee revenue increasing only 5% versus the same period last year, although diluted earnings rose an impressive 31%, backing up the 26% jump in earnings last quarter.

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2) UBS CEO to Exit as Citi, BLK Cut Jobs

The Financial Times reports UBS (NYSE:UBS) CEO Sergio Ermotti is planning to step down in April 2027, the point at which the takeover of Credit Suisse should be completed, kicking off the battle for one of the biggest jobs in the banking world.

"These changes reflect adjustments we're making to ensure our staffing levels … align with current business needs": Citi (NYSE:C) is expected to cut about 1,000 jobs this week as part of a broader two-year plan to reduce headcount by 20,000 by the end of this year as it continues to undergo a multiyear revamp to catch up with U.S. peers.
"BlackRock has really been able to hold its own": BlackRock (NYSE:BLK) announced hundreds of job cuts, totaling around 1% of global headcount. Yet, in a competitive environment, Fool contributing analyst Dan Caplinger recently praised the business, adding that during bull markets it "not only gets more fees from those appreciated assets, but it also has new investors creating cash inflows into those funds. It's just this nice flywheel effect that really helps drive the business forward."

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3) ABBV Cuts Drug Prices for Tariff Relief

AbbVie (NYSE:ABBV) confirmed a three-year deal with the U.S. government to reduce the prices of its treatments in Medicaid in return for exemption from President Donald Trump's tariffs and potential future price mandates. The stock was unchanged in pre-market trading.

Commitment to invest $100 billion in the U.S. in the coming decade: The move comes with Trump's push for pharmaceutical companies to make changes and boost domestic investment, alongside his ramp-up in pressure on drugmakers over pricing.
"Allowing us to collectively move beyond policies that harm American innovation": AbbVie CEO Robert A. Michael hinted at the negative impact of tariffs, while noting the "complexity and access challenges in our healthcare system."

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4) Your Take

This morning, we're asking whether you'd rather start a position in Lemonade (NYSE:LMND) or Airbnb (NASDAQ:ABNB) today -- the first two Stock Advisor recommendations issued in 2021 by Team Hidden Gems and Team Rule Breakers, respectively -- and why? Debate with friends and family, or become a member to hear what your fellow Fools are saying!

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