Sunday, June 7, 2020

New York Financial Companies First Quarter 2020 Total Pretax Earnings Declined By a Massive 69% From the First Quarter 2019. These Horrible Earnings Are Not a Good Signal For Continuing Solid Real Fair Pay US Job Growth.

From a review of Company SEC filings and the Google Finance website, I found 77 New York Financial Companies with stock market caps above $1 bil recently.  One of them hasn't released its March 2020 quarterly earnings yet.  That leaves 76 Companies.

The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 for each of these 76 New York Financial Companies.
US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss) Better
First First (Worse)
New York Financial Companies Quarter Quarter %
Market Caps Above $1 Bil City HQs 2020 2019  Change
mils $ mils $
Investment-Related Activities Cos
Morgan Stanley New York             2,146             2,955
Goldman Sachs New York             1,348             2,719
BlackRock New York                613             1,358
Nasdaq Inc New York                273                313
Jefferies Financial Group New York                158                  49
MarketAxess Holdings New York                  92                  65
Lazard Ltd New York                  84                120
TradeWeb Markets New York                  78                  47
Alliance Bernstein Holding LP New York                  70                  53
INTL FCStone New York                  56                  31
Evercore New York                  49                  84
Focus Financial Partners New York                  46                  (4)
PJT Partners New York                  34                  (0)
BGC Partners New York                  30                117
Moelis & Co New York                  23                  12
Cohen & Steers New York                    9                  50
Prospect Capital New York              (186)                  89
Golub Capital BDC New York              (229)                  18
Ares Capital Corp New York              (612)                214
Icahn Enterprises LP New York           (2,486)              (658)
Apollo Global Mgt LLC New York           (2,580)                335
Blackstone Group Inc New York           (2,766)             1,114
KKR & Co LP New York           (4,589)             1,795
Banks
JPMorgan Chase New York             3,116           11,233
Citigroup New York             3,110             6,012
Bank of New York Mellon New York             1,227             1,193
M&T Bank Corp Buffalo                350                634
Signature Bank New York                152                202
New York Community Bancorp Westbury                115                129
Community Bank System DeWitt                  49                  51
NBT Bancorp Norwich                  12                  37
Tompkins Financial Ithaca                  10                  27
Sterling Bancorp Montebello                    6                130
Real Estate Investment Trusts (REITs)
SL Green Realty New York                127                  53
Kimco Realty New Hyde Park                  66                  92
Brixmor Property Group New York                  60                  63
Life Storage Williamsville                  37                  35
W.P. Carey Inc New York                  25                  67
Lexington Realty Trust New York                  19                  28
Getty Realty Jericho                  13                  11
Global Net Lease New York                  11                    9
Empire State Realty Trust New York                    8                    9
Outfront Media New York                    4                    4
Paramount Group New York                    4                    6
Ladder Capital Corp New York                (19)                  22
VICI Properties Inc New York                (22)                153
Blackstone Mortgage Trust New York                (53)                  77
Acadia Realty Trust Rye                (61)                    3
Arbor Realty Trust Uniondale                (83)                  30
Vornado Realty Trust New York                (92)                243
Apollo Commercial RE Finance New York              (128)                  68
Chimera Investment Corp New York              (371)                118
New York Mortgage Trust New York              (589)                  44
New Residential Investment New York           (1,774)                202
Annaly Capital Management New York           (3,667)              (847)
Insurance Cos
AXA Equitable Holdings New York             6,887              (924)
MetLife New York             5,643             1,744
American International Group New York             2,558             1,154
Marsh & McLennan New York             1,007                944
National General Holdings New York                129                108
Assurant New York                109                217
Voya Financial New York                  50                  93
Arch Capital Group Ltd New York                (61)                541
Assured Guaranty Ltd New York                (62)                  58
Alleghany New York              (466)                556
Loews Corp New York           (1,121)                508
FinTechs
Mastercard Purchase             1,987             2,203
Virtu Financial New York                466                (16)
E Trade Group New York                256                392
Other Financial Cos
S&P Global New York                877                566
Moody's Corp New York                564                412
American Express New York                452             1,958
Broadridge Financial Solutions Lake Success                211                224
MSCI Inc New York                163                128
Triton Intl Ltd Purchase                  83                101
Fortress Transportation & Infrastructure Investors New York                  (4)                (10)
Total 76 New York Financial Cos           13,051           41,971 -69%


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