I'll admit it. I'm a "whale watcher" - and by that I do not mean I watch 'Wheel of Fortune' well at least not on the weekends. The whales that I watch are the type that reside in London and what sort of impact that specific whale had on JP Morgan (JPM) earnings.
I see the basics of a 15% positive earnings surprise with healthy growth on the top line as well. The strength came from investment banking while loan growth was challenged.
Wells Fargo (WFC) beat by a penny and posted a sequential decline in revenue. The basic idea here was a mixed quarter with lots of margin pressure.
Finally we have Citigroup (C) beating earnings yesterday but today we have Vikram Pandit leaving as CEO and being replaced a 29-year bank veteran which could signal a return to the basics for the big bank.
The question is which is the biggest takeaway from this slate of three?
1) The whale losses were muted by investment banking
2) JPM sees a challenging loan growth environment
3) WFC sees margin pressure
4) CEO shuffle and what it signals
Which is the biggest takeaway from your perspective?