Wells Fargo earnings climb as investment banking shines [Yahoo! Finance]
Summit Materials, Inc. Class A (SUM)
Last summit materials, inc. class a earnings: 4/29 06:00 am
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Source: Yahoo! Finance
The company's shares rose 3.1% to $73.40 in premarket trading. Wall Street was bolstered by a rebound in activity last year. Increasing confidence spurred companies to issue equity and debt. Corporations also struck deals, lifting volumes from a decade low in 2023. Bankers expect 2025 to be a much busier year for deals, buoyed by hopes of lower corporate taxes, easing regulations and a broadly pro-business stance under President-elect Donald Trump. Wells Fargo's investment banking fees jumped 59% to $725 million in the quarter compared with a year earlier. The bank advised building materials provider Quikrete on its $11.5 billion deal struck in November to acquire rival Summit Materials and also provided debt financing for the transaction. The bank was among the lead underwriters on software company ServiceTitan's $718.5 million IPO last month. Global investment banking revenue jumped 26% to $86.80 billion in 2024, with North America surging 33% compared with a year earli
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