Core Insights - Zacks Premium offers various tools to enhance investor confidence and market engagement, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores are designed to complement the Zacks Rank, providing additional metrics to help investors identify stocks likely to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum, with A being the highest score indicating a better chance of outperforming the market [3] - The Value Score focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales [4] - The Growth Score assesses a company's financial health and future growth potential through earnings and sales projections [5] - The Momentum Score identifies trends in stock prices and earnings estimates to optimize entry points for investments [6] - The VGM Score combines the three Style Scores to highlight stocks with the best overall value, growth, and momentum characteristics [6] Zacks Rank and Style Scores Interaction - The Zacks Rank utilizes earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.75% since 1988, significantly outperforming the S&P 500 [7] - With over 800 top-rated stocks available, the Style Scores assist investors in narrowing down their choices [8] - To maximize returns, investors should target stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B, while also considering the trend of earnings estimate revisions [9][10] Company Spotlight: Northern Trust Corporation - Northern Trust Corporation, based in Chicago, is a prominent provider of wealth management and banking solutions, serving a diverse clientele [11] - The company holds a Zacks Rank of 2 (Buy) and a VGM Score of B, indicating strong potential for growth [11] - Northern Trust is projected to achieve a year-over-year earnings growth of 10.9% for the current fiscal year, with upward revisions in earnings estimates from analysts [12] - The company has an average earnings surprise of +7.6%, making it a compelling option for growth investors [12]

Financial Data and Key Metrics Changes - The company reported total revenues of $759.1 million, an increase of 19.9% compared to $633.4 million in the previous year [11] - Adjusted EPS increased by 41% to $0.31 from $0.22, demonstrating strong operating leverage [7][14] - Adjusted EBITDA was $114 million, up 32.1% from $86.3 million, with an adjusted EBITDA margin improvement of 139 basis points to 15% [14] Business Line Data and Key Metrics Changes - Management services, servicing, and other revenues increased by 13.6%, driven by approximately 30% growth in valuation and advisory business [11] - Leasing revenues rose by 13.8%, led by double-digit growth in retail volumes and improving office activity in key markets [11] - Capital markets revenues increased by 37.9%, reflecting a 135% improvement in total debt volumes [12] Market Data and Key Metrics Changes - Newmark was ranked as the number one office broker in the U.S. for investment sales in the first half of 2025 [9] - The company improved to number three among global sales brokers across all property types based on preliminary figures [10] - The company gained market share in capital markets, with significant growth in data centers and higher office and multifamily activity [12] Company Strategy and Development Direction - The company is focused on expanding its occupier solutions and leasing footprint globally, providing comprehensive real estate solutions in nearly 100 countries [8] - Newmark is building out its international platform, particularly in Europe and Asia, with a strong emphasis on organic growth [25][29] - The company plans to pivot towards M&A opportunities in the second half of the year, particularly in management services [27][67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the capital markets activity, indicating a strong pipeline and potential for continued growth [25][56] - The company raised its full-year outlook, expecting total revenues between $3.05 billion and $3.25 billion, and adjusted EPS between $1.47 and $1.57 [17] - Management noted that New York City remains resilient despite potential political uncertainties, emphasizing the city's unique talent pool [58][59] Other Important Information - The company introduced a new reporting metric, adjusted free cash flow, which showed a significant year-over-year improvement of 121.4% to $228 million [16] - Total expenses for adjusted earnings increased by 18.4%, reflecting growth initiatives and higher pass-through costs [13] Q&A Session Summary Question: How has the opportunity in Germany been transpiring? - Management indicated that they launched operations in Germany about a year ago and signed 70 brokers, with a strong interest in their model [21][22] Question: Is capital markets activity sustainable? - Management believes there is a significant runway for growth in Europe and remains bullish on capital markets despite potential uncertainties [25] Question: What are the expectations for adjusted free cash flow in 2025? - Management indicated a conversion ratio of about 65% to 85% depending on investment levels, with a focus on hiring talent and potential M&A [62][63] Question: What are the growth rates expected in the second half? - Management expects management and leasing businesses to grow in the high single digits to low double digits, while capital markets may see mid to high teens growth [50] Question: Are there any impacts from the mayoral race in New York City? - Management stated it is too early to tell, but emphasized New York's resilience and strong talent pool [58][59]

Core Insights - Zacks Premium offers tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to complement the Zacks Rank, helping investors identify stocks likely to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum characteristics, with A being the highest score [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Analyzes projected and historical earnings, sales, and cash flow to find stocks with sustainable growth potential [4] Momentum Score - Targets stocks with upward or downward price trends, utilizing factors like one-week price change and monthly earnings estimate changes [5] VGM Score - Combines all three Style Scores to provide a comprehensive indicator for stock selection based on value, growth, and momentum [6] Zacks Rank Integration - The Zacks Rank uses earnings estimate revisions to help investors build winning portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +23.75% since 1988 [7] - There are over 800 stocks rated 1 or 2, making it essential to use Style Scores for effective stock selection [8] Stock Highlight: Regions Financial Corporation - Regions Financial is a financial holding company based in Birmingham, AL, offering various banking and financial services [11] - It holds a 2 (Buy) rating on the Zacks Rank and has a VGM Score of B, with a Momentum Style Score of A [11][12] - The stock has increased by 8.4% in the past four weeks, with 12 analysts raising earnings estimates for fiscal 2025 [12]

Core Viewpoint - Bank of America is set to report its second quarter 2025 financial results on July 16, 2025, with a subsequent investor conference call scheduled for the same day [1]. Group 1: Financial Reporting - The financial results will be released at approximately 6:45 a.m. ET on July 16 [1]. - An investor conference call will follow at 8 a.m. ET, providing an opportunity for investors to engage with the company's financial updates [1]. Group 2: Access to Information - The news release, supplemental filing, and investor presentation will be available on Bank of America's Investor Relations website [2]. - A Form 8-K containing the financial results will also be accessible on the U.S. Securities and Exchange Commission's website [2]. Group 3: Conference Call Details - Investors can join the conference call by dialing 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), with a conference ID of 79795 [3]. - It is recommended that investors dial in 10 minutes prior to the start of the call to ensure connection [3]. Group 4: Replay Information - Replays of the conference call will be available from noon on July 16 through 11:59 p.m. ET on July 25 [4]. - Investors can access the replay by visiting the Investor Relations website or by calling designated numbers for U.S. and international access [4]. Group 5: Company Overview - Bank of America is a leading financial institution, serving approximately 69 million consumer and small business clients through around 3,700 retail financial centers and approximately 15,000 ATMs [5]. - The company boasts approximately 59 million verified digital users and is a global leader in wealth management, corporate and investment banking [5]. - Bank of America operates in the U.S. and more than 35 countries, providing a full range of banking, investing, asset management, and risk management products and services [5].

Core Insights - Bank of America has contributed over $3.5 million in fire relief efforts to support clients, employees, and communities affected by the January wildfires in Los Angeles [1][2]. Group 1: Financial Contributions and Support - The latest round of grants includes more than $1 million directed to local nonprofits for various recovery resources, including assistance for small businesses and families [1]. - Bank of America has focused on small business relief, allocating $400,000 to support small businesses through local Community Development Financial Institutions (CDFIs) [4]. - The bank has also provided direct grants to impacted small businesses and support to chambers of commerce and other business support entities [4]. Group 2: Recovery Efforts and Community Engagement - Bank of America has opened a temporary mobile financial center in response to the destruction of two of its financial centers due to the fires and is committed to rebuilding permanent centers [5]. - The company has successfully reunited over 2,000 clients with their safe deposit box possessions from the destroyed locations [5]. - Bank of America is collaborating with government officials to address insurance challenges and rebuilding needs for impacted homeowners and communities [6]. Group 3: Leadership and Strategic Focus - The recovery efforts are led by Bank of America Business Banking president Raul A. Anaya, who has been appointed to focus on these initiatives full-time [2][3]. - The bank aims to leverage its expertise and connections to assist in the rebuilding process for the Los Angeles community [3].

Core Viewpoint - Bank of America announced plans to increase its quarterly common stock dividend to $0.28 per share starting in Q3 2025, following positive results from the Federal Reserve's 2025 Comprehensive Capital Analysis and Review (CCAR) [1][4]. Group 1: Capital Analysis and Stress Test Results - The 2025 stress test results showed an improvement in Bank of America's modeled capital depletion by 100 basis points (bps) to 170 bps, indicating stronger capital resilience [2]. - As a result of the stress test, Bank of America's preliminary stress capital buffer (SCB) would improve by 70 bps to 2.5%, with a CET1 minimum requirement of 10.0%, effective October 1, 2025 [2]. - If proposed modifications to the SCB calculation are adopted, the SCB would increase to 2.7%, raising the CET1 minimum ratio to 10.2%, effective January 1, 2026 [3]. Group 2: Financial Position - As of March 31, 2025, Bank of America reported $201 billion in regulatory CET1 capital and a CET1 ratio of 11.8%, which exceeds the current minimum requirement [3]. Group 3: Company Overview - Bank of America is a leading financial institution, serving approximately 69 million consumer and small business clients through around 3,700 retail financial centers and approximately 15,000 ATMs [7]. - The company is recognized for its digital banking services, with approximately 59 million verified digital users, and provides a full range of banking, investing, asset management, and risk management products [7]. - Bank of America operates globally, serving clients in the U.S., its territories, and over 35 countries, and is listed on the New York Stock Exchange (NYSE: BAC) [7].

Economic Impact - The 2024 Bank of America Chicago Marathon contributed a record-breaking $683 million to the Chicago Metropolitan Area economy, marking a 22% increase in total economic impact over 2023 [1][2] - The tourism industry experienced over $177 million in economic activity directly resulting from the race [2] Participation and Job Creation - Nearly 53,000 participants took part in the race, with out-of-state participation more than doubling, showing a 130% increase in participants and visitors from outside Illinois and the Midwest since 2023 [2] - The marathon supported 4,589 full-time jobs in 2024, a 24% increase over the previous year, generating $229 million in wages and salary income [3] Community and Charitable Contributions - Runners raised a record-breaking $36 million for worldwide charities, highlighting the event's community engagement [4] - The marathon serves as a vital event for bolstering tourism and showcasing Chicago, with significant economic benefits felt across the country [4] Future Events - The 47th Bank of America Chicago Marathon is scheduled for October 12, 2025, and will welcome thousands of participants from over 100 countries [6]

Core Insights - Zacks Premium offers tools for investors to enhance their stock market engagement and confidence through daily updates, research reports, and stock screens [1] - The Zacks Style Scores provide a framework for evaluating stocks based on value, growth, and momentum, aiding in identifying securities likely to outperform the market [2] Zacks Style Scores Overview - Stocks are rated A, B, C, D, or F based on their value, growth, and momentum characteristics, with higher scores indicating a better chance of outperforming [3] - The Value Score identifies attractive stocks using ratios like P/E, PEG, and Price/Sales, appealing to value investors [4] - The Growth Score focuses on a company's financial health and future outlook, assessing projected and historical earnings, sales, and cash flow [5] - The Momentum Score leverages price trends and earnings estimate changes to identify favorable investment opportunities [6] - The VGM Score combines value, growth, and momentum scores to highlight stocks with the best overall potential [6] Zacks Rank and Style Scores Interaction - The Zacks Rank is a proprietary model based on earnings estimate revisions, which has shown a strong historical performance with 1 (Strong Buy) stocks averaging a +25.41% annual return since 1988 [7][8] - To maximize returns, investors should consider stocks with a Zacks Rank of 1 or 2 alongside Style Scores of A or B [9] - Stocks with lower ranks but high Style Scores may still face downward price pressure due to negative earnings outlooks [10] Company Spotlight: Regions Financial - Regions Financial Corporation is a financial holding company based in Birmingham, AL, offering a range of banking and financial services [11] - The company holds a Zacks Rank of 3 (Hold) and a VGM Score of A, indicating solid performance potential [11] - Regions Financial has a Value Style Score of B, supported by a forward P/E ratio of 9.67, making it attractive to value investors [12] - Recent earnings estimates for fiscal 2025 have been revised upward, with the Zacks Consensus Estimate increasing to $2.24 per share, alongside an average earnings surprise of 6.7% [12]

Group 1 - PNC Financial Services Group, Inc. plans to issue its 2026 quarterly earnings releases before the market opens on specified dates [1] - The scheduled dates for the earnings releases are April 15, July 15, October 15, and January 15 of the following year [4] - A live audio webcast, presentation slides, earnings release, and supplementary financial information will be available on PNC's investor events website [1][2] Group 2 - PNC is one of the largest diversified financial services institutions in the United States, focusing on strong relationships and local delivery of services [2] - The company offers a full range of retail and business banking products, including lending, corporate banking, real estate finance, and asset-based lending [2] - PNC also provides wealth management and asset management services [2]

Core Insights - Bank of America has appointed Paul Keifer as the president of Bank of America Grand Rapids, succeeding Renee Tabben, who led the market since 2016 [1][3] - Paul Keifer will focus on growing market share by fostering local connections and enhancing client relationships across the bank's eight lines of business [2][3] - Keifer is also responsible for the Operations and Strategic Partnerships team, which aims to fulfill the company's five-year, $15 billion Community Homeownership Commitment [3][4] Company Overview - Bank of America is a leading financial institution serving approximately 69 million consumer and small business clients through around 3,700 retail financial centers and approximately 15,000 ATMs [6] - The company is recognized for its digital banking services, with approximately 59 million verified digital users [6] - Bank of America operates globally, serving clients in the U.S., its territories, and over 35 countries, and is listed on the New York Stock Exchange under the ticker symbol BAC [6]